SBSWNYSEGold and Silver OresFiscal year ends December 31Also trades as SBYSF
Sibanye Stillwater Ltd
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 24, 2026
$9.77−0.34 (-3.36%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2016 to 2024
Gross margin
6.2%−7.0 pts over 5 years
Net margin
-6.5%−6.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.4% | -13.3% | +9.0% | – | |
| Gross profit | -50.3% | -52.1% | -6.4% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 0.2% | -15.7% | |
| Return on assets | – | 0.1% | -5.2% | |
| Current ratio | – | 1.83 | 2.32 | |
| Debt to equity | – | 0.80 | 0.95 | |
| Inventory turnover | – | 6.1× | 4.1× | |
| Capex to revenue | – | 10.6% | 19.2% | |
| Diluted shares | – | 2.58B | 2.83B |
Where the cash went
Fiscal 2020 to 2024, five years combined
Sibanye Stillwater generated 92.16B ZAR from operations and spent 125.64B ZAR on capital expenditure, dividends and share buybacks. 65% of that went back into the business.
Generated
92.16B ZAR
Used
125.64B ZAR
Capital expenditure82.24B ZAR65%Dividends34.82B ZAR28%Share buybacks8.59B ZAR7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.5%
×Asset turnover0.80×
×Equity multiplier3.03×
=Return on equity, FY2024-15.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -6.5% | 0.80× | 3.03× | -15.7% |
| FY2023 | -33.2% | 0.73× | 2.26× | -55.2% |
| FY2022 | 13.3% | 0.87× | 1.91× | 22.0% |
| FY2021 | 19.2% | 1.20× | 1.95× | 44.9% |
| FY2020 | 23.0% | 1.08× | 2.41× | 60.1% |
| FY2019 | 0.1% | 0.78× | 3.48× | 0.2% |
| FY2018 | -4.9% | 0.63× | 3.37× | -10.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
6of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-7.30B ZAR
- Cash generatingOperating cash flow above zero10.11B ZAR
- Return on assets improvedROA up on the prior year-22.7% → -5.1%
- Earnings backed by cashOperating cash flow above net income10.11B ZAR vs -7.30B ZAR
- Less leverageLong-term debt to assets fell17.5% → 29.8%
- Better liquidityCurrent ratio rose1.70 → 2.32
- No dilutionShare count did not rise2.83B → 2.83B
- Gross margin improvedGross margin up on the prior year12.24% → 6.17%
- More efficientAsset turnover rose0.68 → 0.78