Gold Fields Limited
GFI Basic Materials Gold
Gold Fields Limited’s revenue for fiscal 2025 (year ended December 2025) was $8.8 billion, up 68.2% from fiscal 2024. Revenue growth for five consecutive years; insiders bought in the last twelve months.
Follow GFI
Gold Fields Limited (GFI) Altman Z-score
Gold Fields Limited's Altman Z-score for fiscal 2025 is 5.81, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.81 | 2.58 |
| FY2024 | 3.24 | (0.60) |
| FY2023 | 3.84 | (0.02) |
| FY2022 | 3.86 | 0.25 |
| FY2021 | 3.61 | 0.63 |
| FY2020 | 2.98 | 1.06 |
| FY2019 | 1.93 | 0.54 |
| FY2018 | 1.39 | (0.26) |
| FY2017 | 1.65 | 0.14 |
| FY2016 | 1.51 | 0.07 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.09 | — | 0.11 | |
| Retained earnings / total assets | 0.44 | — | 0.61 | |
| EBIT / total assets | 0.29 | — | 0.94 | |
| Market value of equity / total liabilities | 5.96 | — | 3.58 | |
| Sales / total assets | 0.57 | — | 0.57 | |
| Altman Z-score | Safe zone | 5.81 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.32 | ||
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 |
|---|---|
| WPM Wheaton Precious Metals Corp. compare | 75.2× |
| FNV Franco-Nevada Corporation compare | 40.7× |
| AU AngloGold Ashanti PLC compare | 7.5× |
| GFI Gold Fields Limited | 5.8× |
| CDE Coeur Mining, Inc. compare | 5.0× |
| RGLD Royal Gold, Inc. compare | 4.5× |
| HMY Harmony Gold Mining Company Limited compare | 4.1× |
| NEM Newmont Corporation compare | 4.1× |
| EQX Equinox Gold Corp. compare | 1.6× |
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