Sibanye Gold Limited
SBSW Basic Materials Other Precious Metals & Mining
Sibanye Gold Limited’s revenue for fiscal 2025 (year ended December 2025) was $7.3 billion, up 18.6% from fiscal 2024. Insiders bought in the last twelve months.
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Sibanye Gold Limited (SBSW) Altman Z-score
Sibanye Gold Limited's Altman Z-score for fiscal 2025 is 2.58, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.58 | 1.22 |
| FY2024 | 1.36 | (0.35) |
| FY2023 | 1.71 | (1.39) |
| FY2022 | 3.10 | (1.10) |
| FY2021 | 4.20 | 0.10 |
| FY2020 | 4.10 | 2.38 |
| FY2019 | 1.72 | 1.08 |
| FY2018 | 0.65 | (0.31) |
| FY2017 | 0.96 | (0.63) |
| FY2016 | 1.59 | 0.27 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.18 | — | 0.21 | |
| Retained earnings / total assets | (0.13) | — | −0.18 | |
| EBIT / total assets | 0.20 | — | 0.66 | |
| Market value of equity / total liabilities | 1.71 | — | 1.02 | |
| Sales / total assets | 0.87 | — | 0.87 | |
| Altman Z-score | Grey zone | 2.58 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.52 | ||
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 |
|---|---|
| TFPM Triple Flag Precious Metals Corp. compare | 60.2× |
| MTA Metalla Royalty & Streaming Ltd. compare | 22.3× |
| ASM Avino Silver compare | 13.3× |
| HL Hecla Mining Company compare | 8.7× |
| BVN Buenaventura Mining Company Inc. compare | 3.8× |
| SBSW Sibanye Gold Limited | 2.6× |
| MUX McEwen Inc. compare | 0.3× |
| PPTA Perpetua Resources Corp. compare | — |
| SLSR Solaris Resources Inc. 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