West African Resources Limited (ASX:WAF)

West African Resources Financials Overview

Financials in millions AUD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	2,528	1,543	730	661.23	608.23	712.14
Revenue Growth	63.86%	111.37%	10.40%	8.71%	-14.59%	128.86%
Gross Profit Gross Profit Growth	1,495	880	352.3	270.35	283.55	405.34
Operating Income Operating Income Growth	1,313	819.5	329.9	236.42	258.72	387.42
Net Income Net Income Growth	639.5	473.9	223.8	146.87	164.44	188.96
Earnings Per Share EPS Growth	0.56	0.41	0.21	0.14	0.16	0.21
EPS Growth	34.65%	100.48%	45.07%	-10.69%	-23.19%	104.95%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Other Other Growth	3.5	5.2	3.4	0.38	0.13	0.01
Mining Operations Mining Operations Growth	-	1,538	726.6	660.81	608.06	712.13
Total Total Growth	2,528	1,543	730	661.23	608.23	712.14

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	876.3	584.1	391.7	135.08	173.39	183.41
Total Debt Total Debt Growth	411.2	453.1	426	149.15	22.18	87.72
Net Cash (Debt) Net Cash Growth	465.1	131	-34.3	-14.07	151.21	95.69
Net Cash Growth	255.04%	-	-	-	58.02%	-
Net Cash Per Share Net Cash Per Share Growth	0.40	0.11	-0.03	-0.01	0.15	0.10

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	1,320	789.7	251.6	208.61	184.1	349.66
Capital Expenditures CapEx Growth	-385.3	-431.3	-487.3	-228.34	-180.79	-107.96
Free Cash Flow Free Cash Flow Growth	934.7	358.4	-235.7	-19.73	3.31	241.7
Free Cash Flow Growth	160.80%	-	-	-	-98.63%	686.60%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	59.13%	57.03%	48.26%	40.89%	46.62%	56.92%
Operating Margin	51.94%	53.11%	45.19%	35.75%	42.54%	54.40%
Pretax Margin	47.32%	52.36%	46.86%	36.46%	42.35%	45.15%
Profit Margin	25.29%	30.71%	30.66%	22.21%	27.04%	26.53%
FCF Margin	36.97%	23.23%	-32.29%	-2.98%	0.54%	33.94%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 16, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	6.83	7.23	7.31	6.60	7.31	7.13
Forward PE	5.44	3.09	5.10	8.06	7.23	7.06
P/FCF Ratio	4.65	9.56	-	-	362.98	5.58
PS Ratio	1.72	2.22	2.24	1.47	1.98	1.89

Data Source: S&P Global Market Intelligence Last updated: Sep 9, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Sep 16, 2026

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