Merafe Resources Ratios and Metrics

Market cap in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 27, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	2,824	2,724	3,499	3,249	3,284	2,999
Market Cap Growth	0%	-22.14%	7.69%	-1.06%	9.49%	184.40%
Enterprise Value	1,672	1,588	1,789	1,656	2,283	2,219
Last Close Price	1.13	1.01	1.17	0.82	0.64	0.47
PE Ratio	19.82	19.10	5.24	1.85	2.33	1.79
Forward PE	11.30	3.33	3.66	2.75	3.18	2.78
PS Ratio	0.48	0.47	0.41	0.35	0.41	0.37
PB Ratio	0.60	0.58	0.72	0.62	0.76	0.80
P/TBV Ratio	0.60	0.58	0.72	0.62	0.76	0.80
P/FCF Ratio	17.30	16.68	3.23	2.69	2.71	4.51
P/OCF Ratio	4.63	4.47	2.01	1.73	1.93	2.59
PEG Ratio	-	1.40	1.40	1.40	1.40	1.40
EV/Sales Ratio	0.29	0.27	0.21	0.18	0.29	0.28
EV/EBITDA Ratio	2.35	2.28	1.07	0.76	1.11	0.96
EV/EBIT Ratio	3.28	3.20	1.36	0.85	1.23	1.00
EV/FCF Ratio	10.24	9.72	1.65	1.37	1.88	3.33
Debt / Equity Ratio	0.00	0.00	0.00	0.00	0.03	0.02
Debt / EBITDA Ratio	0.01	0.01	0.00	0.00	0.07	0.03
Debt / FCF Ratio	0.03	0.03	0.01	0.01	0.11	0.11
Net Debt / Equity Ratio	-0.24	-0.24	-0.29	-0.31	-0.26	-0.24
Net Debt / EBITDA Ratio	-1.65	-1.65	-0.86	-0.75	-0.55	-0.39
Net Debt / FCF Ratio	-7.05	-7.05	-1.32	-1.36	-0.93	-1.35
Asset Turnover	0.96	0.96	1.32	1.50	1.49	2.00
Quick Ratio	2.52	2.52	2.94	3.32	2.29	2.83
Current Ratio	4.90	4.90	5.27	5.27	4.84	4.68
Return on Equity (ROE)	2.97%	2.97%	13.17%	36.56%	34.81%	55.35%
Return on Assets (ROA)	5.09%	5.09%	12.83%	19.71%	21.80%	34.38%
Return on Invested Capital (ROIC)	10.46%	10.64%	28.03%	42.60%	44.17%	64.77%
Return on Capital Employed (ROCE)	9.80%	9.80%	25.20%	34.30%	39.00%	54.70%
Earnings Yield	5.05%	5.23%	19.07%	53.96%	42.94%	55.81%
FCF Yield	5.78%	5.99%	30.92%	37.18%	36.96%	22.20%
Dividend Yield	10.62%	11.82%	23.92%	51.51%	39.17%	62.13%
Payout Ratio	210.42%	210.42%	157.32%	47.05%	60.26%	10.45%
Buyback Yield / Dilution	-	-	-	-	0.28%	0.18%
Total Shareholder Return	10.62%	11.82%	23.92%	51.51%	39.45%	62.31%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.