DRDGOLD Limited
DRD Basic Materials Gold
DRDGOLD Limited’s revenue for fiscal 2026 (year ended June 2026) was $660.6 million, up 52.2% from fiscal 2025. Revenue growth for three consecutive years, operating cash flow growth for three.
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DRDGOLD Limited (DRD) Altman Z-score
DRDGOLD Limited's Altman Z-score for fiscal 2026 is 6.41, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 6.41 | 0.82 |
| FY2025 | 5.58 | 0.94 |
| FY2024 | 4.64 | (2.15) |
| FY2023 | 6.80 | 2.39 |
| FY2022 | 4.40 | (3.08) |
| FY2021 | 7.48 | (0.51) |
| FY2020 | 7.99 | 6.87 |
| FY2019 | 1.12 | 0.69 |
| FY2018 | 0.43 | (0.05) |
| FY2017 | 0.48 | (1.10) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.16 | — | 0.19 | |
| Retained earnings / total assets | 0.37 | — | 0.52 | |
| EBIT / total assets | 0.33 | — | 1.09 | |
| Market value of equity / total liabilities | 6.63 | — | 3.98 | |
| Sales / total assets | 0.64 | — | 0.64 | |
| Altman Z-score | Safe zone | 6.41 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.30 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| DRD DRDGOLD Limited | 6.4× |
| FSM Fortuna Mining Corp. compare | 4.4× |
| ARIS Aris Mining Corporation compare | 2.6× |
| AAUC Allied Gold Corporation compare | 1.8× |
| IAUX i-80 Gold Corp. compare | 0.2× |
| OGG Osisko Gold Group Inc. compare | 0.0× |
| HYMC Hycroft Mining Holding Corporation compare | −3.4× |
| NG Novagold Resources Inc. compare | — |
| CNL Collective Mining Ltd. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets