Saturday 17 October 2026 Export CMCL’s income statement to Excel — free account

Caledonia Mining Corporation PLC

Caledonia Mining Corporation PLC’s revenue for fiscal 2025 (year ended December 2025) was $267.7 million, up 46.2% from fiscal 2024. In the quarter to June 2026, revenue grew 35.1%, EPS grew 202.2%, free cash flow grew 267.9% and total debt rose 332.8%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

23.61 0.09 −0.38%

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Market cap: $458.2M
P/E: 5.9×
Fwd P/E: 8.4×
Dividend yield: 2.37%
F-score: 8/9
Altman Z: 3.83
Beneish M: −2.59
Dividend safety: 86/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.08

Total sells 0.34

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	1	1	—	1	—	—
Sell	—	—	—	—	—	—	1	—	—	—	—	—

Insider Ownership 17.56%

Capital & Financial Ratios $m

Market Cap 458.24

Revenue 279.10

Net Income 71.69

Free Cash Flow 51.71

Net Debt (58.93)

Current Ratio 5.73

Debt/Equity 0.36

P/E ratio 5.92

Fwd P/E 8.35

P/S ratio 1.48

P/B ratio 1.28

Past 5Y EPS Growth 10.34%

This Y EPS Growth 8.39%

Next Y EPS Growth (2.32%)

Next Y revenue growth 17.01%

Next 5Y EPS Growth 6.91%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 22.06%

10-year low 10-year high

P/S against its own 10 years 63.18%

10-year low 10-year high

P/B against its own 10 years 76.70%

10-year low 10-year high

EV/Sales against its own 10 years 51.90%

10-year low 10-year high

EV/FCF against its own 10 years 3.00%

10-year low 10-year high

Dividends

Payout Ratio 0.14

Annual Dividend Rate 0.56

Annual Dividend Yield 2.37%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.51	0.14 0.14 0.14
2025	0.56	0.14 0.14 0.14 0.14
2024	0.56	0.14 0.14 0.14 0.14
2023	0.56	0.14 0.14 0.14 0.14
2022	0.70	0.14 0.14 0.14 0.14 0.14
2021	0.50	0.11 0.12 0.13 0.14
2020	0.34	0.08 0.08 0.09 0.10
2019	0.28	0.07 0.07 0.07 0.07
2018	0.34	0.07 0.07 0.07 0.07 0.07
2017	0.41	0.07 0.07 0.07 0.07 0.07 0.07
2016	0.38	0.06 0.01 0.07 0.06 0.07 0.05 0.07

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	7	4	42	174
Receivables	11	13	12	8
Inventory	20	24	27	28
Other	14	14	—	—
	54	61	95	226

	2023	2024	2025	Q'26
Payables	21	27	32	28
ST’ Debt	18	14	19	6
Other	1	1	1	1
	40	45	60	39

Compound Annual Growth %

	10y	5y	3y
Sales	18.51%	21.76%	23.50%
Cash Flow	27.21%	19.75%	21.39%
Earnings	27.57%	21.86%	44.96%
Book Value	18.86%	12.40%	13.59%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	66	76	—	—	—
’25	56	65	71	—	268
’24	39	50	47	48	183
’23	29	37	41	39	146
’22	35	37	36	34	142
’21	26	30	33	32	121
’20	24	23	25	28	100

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	19	29	—	—	—
’25	13	28	14	—	76
’24	5	19	5	13	42
’23	(1)	(2)	14	3	15
’22	10	17	9	7	43
’21	2	13	7	9	31
’20	10	4	5	12	31

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	12	18	—	—	—
’25	5	16	6	—	40
’24	1	11	(2)	1	11
’23	(6)	(8)	4	(6)	(16)
’22	0	3	(2)	(3)	(1)
’21	(5)	5	(2)	(5)	(7)
’20	5	1	(3)	0	3

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.80	1.36	—	—	—
’25	0.45	1.06	0.77	—	2.83
’24	0.11	0.43	0.12	0.30	0.91
’23	(0.30)	(0.01)	0.15	(0.31)	(0.24)
’22	0.45	0.88	0.64	(0.63)	1.35
’21	0.37	0.21	0.57	0.33	1.48
’20	0.71	0.43	0.37	0.24	1.73

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.70	5.17	5.01	5.01	6.51	10.65	8.75	9.48	8.91	8.81	Analyst estimates 2026–2028 Powerpack
	High	9.20	7.96	9.94	8.68	29.39	18.58	18.23	17.58	16.95	38.75
People
People	Employees	782	1,429	1,465	1,586	1,718	1,949	2,147	2,332	2,204	2,357
	Revenue/emp, $m	0.08	0.05	0.05	0.05	0.06	0.06	0.07	0.06	0.08	0.11
Income, $m
Income, $m	Revenue	62	70	68	76	100	121	142	146	183	268
	Gross margin, %	37.90	37.73	31.56	41.07	46.66	44.57	43.51	28.35	42.07	51.23
	EBT	19	21	21	61	40	38	40	8	41	107
	EBT margin, %	30.33	29.51	31.00	80.04	40.43	31.32	27.90	5.45	22.15	39.81
	Net income	11	21	21	61	41	38	40	11	44	110
	Depreciation	3	4	4	4	5	8	10	14	16	16
Per share, $
Per share, $	Revenue	5.93	6.58	6.45	7.15	8.54	9.97	11.07	7.86	9.53	13.89
	Earnings	0.80	0.86	0.99	3.82	1.73	1.49	1.36	(0.24)	0.91	2.83
	Cash flow	2.20	2.31	1.67	1.70	2.65	2.54	3.32	0.79	2.19	3.95
	Capex	(1.90)	(2.04)	(1.90)	(1.89)	(2.38)	(3.11)	(3.44)	(1.63)	(1.63)	(1.87)
	Free cash flow	0.30	0.27	(0.24)	(0.19)	0.27	(0.57)	(0.11)	(0.84)	0.55	2.08
	Book value	5.67	6.52	7.43	11.76	13.50	14.84	15.08	12.04	12.21	14.71
	Shares, m	10	11	11	11	12	12	13	19	19	19
Valuation, ×
Valuation, ×	P/E	7.25	9.02	5.36	2.20	9.07	7.88	9.38	0.00	9.80	10.14
	P/S	0.98	1.15	0.81	1.18	1.86	1.17	1.15	1.59	0.99	2.14
	P/B	1.02	1.16	0.71	0.72	1.18	0.79	0.85	1.04	0.77	1.81
	EV/Sales	0.80	1.00	0.80	1.09	1.66	1.04	1.14	1.71	1.10	2.07
	EV/FCF	15.76	24.18	(21.68)	(42.14)	53.23	(18.19)	(109.72)	(16.03)	18.84	18.26
Cash, $m
Cash, $m	Operating cash flow	23	25	18	18	31	31	43	15	42	76
	Capex	(20)	(22)	(20)	(20)	(28)	(38)	(44)	(30)	(31)	(36)
	Free cash flow	3	3	(3)	(2)	3	(7)	(1)	(16)	11	40
Balance, $m
Balance, $m	Working capital	16	12	16	20	35	35	6	14	16	35
	Total debt	3	2	6	3	1	1	5	24	24	25
	Net debt	(11)	(11)	(5)	(7)	(20)	(16)	(2)	17	20	(17)
	Shareholders’ equity	59	69	79	125	158	181	193	224	234	284
Returns, %
Returns, %	ROA	10.43	9.35	9.13	31.21	12.63	9.30	8.03	(2.88)	5.18	14.35
	ROIC	24.73	22.24	18.20	32.20	18.52	14.56	13.13	2.83	10.73	25.72
	ROE	15.55	14.60	14.55	41.29	14.35	10.68	9.57	(3.89)	7.64	21.05

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
DC Dakota Gold Corp.	$740.6M	— (loss-making)	—	—	n/m	−71.27% (below 0%: shrinking)	0.00%	0.00%	Compare
GROY Gold Royalty Corp.	$681.2M	745×	47.2×	+76.09% (above 0%: growing)	n/m	+246.00% (above 0%: growing)	69.31%	32.26%	Compare
NFGC New Found Gold Corp.	$608.6M	— (loss-making)	—	—	n/m	−108.07% (below 0%: shrinking)	12.96%	(109.76%)	Compare
THM International Tower Hill Mines Ltd	$573.0M	— (loss-making)	—	—	n/m	−36.56% (below 0%: shrinking)	0.00%	0.00%	Compare
GAU Galiano Gold Inc.	$572.9M	8.1×	3.4×	+116.69% (above 0%: growing)	+242.86% (above 0%: growing)	−414.66% (below 0%: shrinking)	70.07%	49.18%	Compare
CTGO Contango Silver & Gold Inc.	$506.6M	— (loss-making)	—	—	−88.89% (below 0%: shrinking)	−209.25% (below 0%: shrinking)	0.00%	0.00%	Compare
CMCL Caledonia Mining Corporation PLC	$458.2M	5.9×	8.4×	+35.13% (above 0%: growing)	+202.22% (above 0%: growing)	+267.89% (above 0%: growing)	51.61%	54.94%
TRX TRX Gold Corporation	$348.0M	— (loss-making)	16.5×	+163.33% (above 0%: growing)	n/m	+88.08% (above 0%: growing)	59.21%	47.81%	Compare
IDR Idaho Strategic Resources, Inc.	$339.6M	14.9×	21.4×	+13.25% (above 0%: growing)	+15.00% (above 0%: growing)	−294.99% (below 0%: shrinking)	56.20%	34.13%	Compare
Median of peers	$572.9M	14.9×	19.0×	+96.39%	+15.00%	−89.67%	34.58%	16.13%

All 37 Gold stocks →

Caledonia Mining Corporation PLC (CMCL) key facts

Strength: Caledonia Mining Corporation PLC’s revenue for fiscal 2025 (year ended December 2025) was $267.7 million, up 46.2% from fiscal 2024.
Caledonia Mining Corporation PLC (CMCL) is a Gold company in the Basic Materials sector, traded in the US as an ADR.
As of October 16, 2026, CMCL traded at $23.61, a market capitalization of $458.2 million.
Caledonia Mining Corporation PLC pays an annual dividend of $0.56 per share, a yield of 2.37%, with a payout ratio of 14.0%.
Return on equity was 21.1% and debt-to-equity 0.36.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 3.83 (safe zone) for fiscal 2025.