Company data sheet · Harmony Gold Mining
Harmony Gold Mining: three lost years, and the economy wasn't the reason.
- Industry
- Gold and Silver Ores
- Headquarters
- South Africa
- Ticker
- HMY (NYSE)
- Sources
- SEC filings (2002–2026), Stratrix's verified Decision Cases, market data and official economic statistics for South Africa
- Data as of
- October 18, 2026
- From profit to three straight losses. Harmony Gold Mining earned ZAR 0.4 billion in fiscal 2016–2017. Then it lost money every year from fiscal 2018 to 2020: ZAR 8 billion in all. Fiscal 2021 was its first profit in four years: ZAR 5.1 billion.
- It outgrew its own economy many times over. Revenue rose from ZAR 1.3 billion in fiscal 2016 to ZAR 78.4 billion in fiscal 2025: 62.0 times as much. South Africa's economy, counted the same way in money terms, grew about 61%. Whatever drove it, the economy around it does not account for growth of that size.
- It wasn't the cycle. The losses began in fiscal 2018 (mostly calendar 2018), a year South Africa economy grew 1.6%. When a company falls while its economy grows, look inside the company first.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | ZAR 1.3 billion | ZAR 0.1 billion | |
| 2017 | ZAR 19.5 billion | ZAR 0.4 billion | |
| 2018 | ZAR 20.5 billion | −ZAR 4.5 billion | |
| 2019 | ZAR 26.9 billion | −ZAR 2.6 billion | |
| 2020 | ZAR 30.6 billion | −ZAR 0.9 billion | |
| 2021 | ZAR 43.6 billion | ZAR 5.1 billion | |
| 2022 | ZAR 42.6 billion | −ZAR 1.1 billion | |
| 2023 | ZAR 49.3 billion | ZAR 4.8 billion | |
| 2024 | ZAR 62.3 billion | ZAR 8.6 billion | |
| 2025 | ZAR 78.4 billion | ZAR 14.4 billion |
As reported in its annual filings, in ZAR. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Economic context: 5 measures for South Africa, every year since 2016, from the official sources.
- Peer comparison: against 175 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
The full data sheet downloads with the Data Plan. To see exactly what you get first, open the Boeing sample PDF or Excel.