As of 2026-05-10, the Intrinsic Value of Harmony Gold Mining Company Ltd (HAR.JO) is 16,403.98 ZAR. This HAR.JO valuation is based on the model Discounted Cash Flows (Growth Exit 5Y). With the current market price of 28,853.00 ZAR, the upside of Harmony Gold Mining Company Ltd is -43.10%.
The range of the Intrinsic Value is 14,751.94 - 18,541.03 ZAR
Based on its market price of 28,853.00 ZAR and our intrinsic valuation, Harmony Gold Mining Company Ltd (HAR.JO) is overvalued by 43.10%.
| Range | Selected | Upside | |
| a | |||
| DCF (Growth 5y) | 14,751.94 - 18,541.03 | 16,403.98 | -43.1% |
| DCF (Growth 10y) | 18,627.71 - 23,226.06 | 20,655.30 | -28.4% |
| DCF (EBITDA 5y) | 29,987.80 - 49,395.20 | 39,125.78 | 35.6% |
| DCF (EBITDA 10y) | 26,412.93 - 41,541.88 | 33,180.92 | 15.0% |
| Fair Value | 70,647.75 - 70,647.75 | 70,647.75 | 144.85% |
| P/E | 32,272.01 - 39,348.90 | 35,378.11 | 22.6% |
| EV/EBITDA | 31,857.75 - 53,190.97 | 44,592.42 | 54.6% |
| EPV | 5,532.21 - 6,551.33 | 6,041.77 | -79.1% |
| DDM - Stable | 8,193.11 - 13,736.77 | 10,964.94 | -62.0% |
| DDM - Multi | 13,592.20 - 17,630.86 | 15,347.72 | -46.8% |
| Market Cap (mil) | 166,180.00 |
| Beta | 2.05 |
| Outstanding shares (mil) | 5.76 |
| Enterprise Value (mil) | 171,724.00 |
| Market risk premium | 9.50% |
| Cost of Equity | 24.83% |
| Cost of Debt | 9.63% |
| WACC | 24.58% |