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Harmony Gold Mining CoHGMCF 93 3-Year ROIIC % is 65.08 as of Jun. 2025, which is 89% above its 10-year median of 34.48. GuruFocus rates HGMCF with a GF Score™ of 93/100 and a GF Value™ of $20.23 (Modestly Undervalued). Among 2,308 Metals & Mining companies, Harmony Gold Mining Co ranks better than 85.18% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Harmony Gold Mining Co's 3-Year ROIIC % for the quarter that ended in Jun. 2025 was 65.08%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Harmony Gold Mining Co's 3-Year ROIIC % or its related term are showing as below:
HGMCF's 3-Year ROIIC % is ranked better than 85.18% of 2308
companies
in the Metals & Mining industry
Industry Median: -2.53
vs HGMCF: 65.08
Harmony Gold Mining Co (OTCPK:HGMCF) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Harmony Gold Mining Co 3-Year ROIIC % Related Terms
Harmony Gold Mining Co 3-Year ROIIC % Historical Data
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The historical data trend for Harmony Gold Mining Co's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Harmony Gold Mining Co's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Harmony Gold Mining Co's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Harmony Gold Mining Co (HGMCF) has a 3-Year ROIIC % of 65.08 as of Jun. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Harmony Gold Mining Co and its competitors. This is 89% above median its historical median of 34.48. According to the industry distribution chart, Harmony Gold Mining Co ranks #342 out of 2308 companies in the Metals & Mining industry, placing it in the top 14.8%.
Is Harmony Gold Mining Co's 3-Year ROIIC % too high?
Harmony Gold Mining Co's current 3-Year ROIIC % of 65.08 is 89% above median its 10-year median of 34.48. Based on the distribution chart, Harmony Gold Mining Co ranks #342 out of 2308 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Harmony Gold Mining Co has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Harmony Gold Mining Co's 3-Year ROIIC % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Harmony Gold Mining Co ranks #342 out of 2308 companies for 3-Year ROIIC %. This places Harmony Gold Mining Co in the top 15% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Metals & Mining company?
A good 3-Year ROIIC % depends on the Metals & Mining industry context. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Harmony Gold Mining Co and its competitors. Harmony Gold Mining Co's current 3-Year ROIIC % is 65.08, which is 89% above median its own 10-year median of 34.48. 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 Modestly Undervalued. The stock's GF Value™ is $20.23, compared to a current price of $17.45 — trading 13.7% below its estimated fair value. The current 3-Year ROIIC % is 65.08, which is 89% above median its 10-year median of 34.48. Harmony Gold Mining Co's overall GF Score™ is 93/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Harmony Gold Mining Co (HGMCF), the current 3-Year ROIIC % is 65.08 as of Jun. 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 13.7% below its estimated GF Value™ of $20.23.
GuruFocus considers Harmony Gold Mining Co to be Modestly Undervalued.
Key valuation signals for HGMCF:
3-Year ROIIC %: 65.08 (89% above median its 10-year median of 34.48)
GF Value™: $20.23 vs. price of $17.45 (13.7% below fair value)
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.
93GF Score
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