Harmony Gold Mining CoHGMCF 92 Gross Margin % is 41.24% as of Dec. 2025, which is 225% above its 10-year median of 12.67. GuruFocus rates HGMCF with a GF Score™ of 92/100 and a GF Value™ of $19.12 (Fairly Valued). Among 729 Metals & Mining companies, Harmony Gold Mining Co ranks better than 61.18% on this metric.
HGMCF's Gross Margin % is ranked better than 61.18% of 729
companies
in the Metals & Mining industry
Industry Median: 26.2
vs HGMCF: 37.63
Harmony Gold Mining Co had a gross margin of 41.24% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Harmony Gold Mining Co was 29.50% per year.
Harmony Gold Mining Co (OTCPK:HGMCF) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Harmony Gold Mining Co had a gross margin of 41.24% for the quarter that ended in Dec. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Harmony Gold Mining Co Gross Margin % Related Terms
Harmony Gold Mining Co Gross Margin % Historical Data
* Premium members only.
The historical data trend for Harmony Gold Mining Co's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Harmony Gold Mining Co's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Harmony Gold Mining Co Gross Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Harmony Gold Mining Co's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Harmony Gold Mining Co's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Harmony Gold Mining Co (HGMCF) has a Gross Margin % of 41.24% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Harmony Gold Mining Co and its competitors. This is 225% above median its historical median of 12.67. According to the industry distribution chart, Harmony Gold Mining Co ranks #283 out of 729 companies in the Metals & Mining industry, placing it in the top 38.8%.
Is Harmony Gold Mining Co's Gross Margin % too high?
Harmony Gold Mining Co's current Gross Margin % of 41.24% is 225% above median its 10-year median of 12.67. The Metals & Mining industry median Gross Margin % is 26.20. Harmony Gold Mining Co's value of 41.24% is 57.4% above this industry median. Based on the distribution chart, Harmony Gold Mining Co ranks #283 out of 729 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Harmony Gold Mining Co has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Harmony Gold Mining Co's Gross Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Harmony Gold Mining Co ranks #283 out of 729 companies for Gross Margin %. This puts Harmony Gold Mining Co in the upper half of its industry. The industry median Gross Margin % is 26.20. Harmony Gold Mining Co's value of 41.24% is 57.4% above this benchmark. While the company's 10-year median is 12.67 vs. the industry median of 26.20, Harmony Gold Mining Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Metals & Mining company?
The median Gross Margin % among Metals & Mining companies is 26.20, based on 729 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Harmony Gold Mining Co's current Gross Margin % of 41.24% is 57.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Harmony Gold Mining Co and its competitors. For the Metals & Mining industry, the median Gross Margin % is 26.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmony Gold Mining Co's current Gross Margin % is 41.24%, which is 225% above median its own 10-year median of 12.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmony Gold Mining Co stock overvalued right now?
Based on GuruFocus' analysis, Harmony Gold Mining Co (HGMCF) is currently considered Fairly Valued. The stock's GF Value™ is $19.12, compared to a current price of $17.45 — trading 8.7% below its estimated fair value. The current Gross Margin % is 41.24%, which is 225% above median its 10-year median of 12.67 and 57.4% above the Metals & Mining industry median of 26.20. Harmony Gold Mining Co's overall GF Score™ is 92/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Harmony Gold Mining Co (HGMCF), the current Gross Margin % is 41.24% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Harmony Gold Mining Co (HGMCF) Overvalued in 2026?
Based on GuruFocus' analysis, Harmony Gold Mining Co stock appears to be undervalued.
The current stock price of $17.45 is trading 8.7% below its estimated GF Value™ of $19.12.
GuruFocus considers Harmony Gold Mining Co to be Fairly Valued.
Key valuation signals for HGMCF:
Gross Margin %: 41.24% (225% above median its 10-year median of 12.67)
GF Value™: $19.12 vs. price of $17.45 (8.7% below fair value)
Industry Position: 57.4% above the Metals & Mining median (#283 of 729)
No single metric tells the full story. See the HGMCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmony Gold Mining Co Ltd is engaged in gold mining and related activities, including exploration, extraction, and processing. The group's primary product is gold bullion, produced at operations in South Africa and Papua New Guinea. Gold byproducts include uranium and silver. Strategic projects such as the Wafi-Golpu Project in the New Guinea Mobile Belt, the Eva Copper Project in the Mt Isa Inlier, Queensland, Australia, and the MAC Copper acquisition position the company as a gold-copper producer. The company operates across South Africa, Papua New Guinea, and Australia.
92GF Score
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