DRDGOLD Limited (DRDGF)
OvervaluedFundamental
68
मूल्य
$4050.00
मार्केट कैप
$36.43B
भाग 1 · कंपनी का मूल्य कितना है
अवलोकन
DRDGOLD does not mine new gold ore. It reprocesses old surface tailings — the crushed waste rock left behind by a century of deep-level gold mining around Johannesburg, South Africa — to extract the small amounts of gold that earlier, cruder processing technology left behind. Its two operations, Ergo and Far West Gold Recoveries, run large-scale surface plants around the clock rather than underground shafts, which means lower safety risk and lower cost per ounce than conventional gold mining.
यह पैसा कैसे कमाती है
Revenue is simply tonnes of old tailings processed multiplied by the tiny amount of gold recovered per tonne, sold at the prevailing gold price. Because the company does not control the gold price, profitability depends on keeping processing costs and volumes efficient: it earns more by moving more material through its plants at low unit cost than by any pricing power. A rising gold price flows almost directly to profit, since the tailings feedstock itself is largely a sunk cost from decades ago.
सेगमेंट के अनुसार राजस्व
The original, larger surface tailings operation on Johannesburg's East Rand, still the majority of group production and revenue.
A newer operation reprocessing tailings from the West Rand, gaining ground as more dumps are brought into production.
प्रतिस्पर्धी बढ़त (Moat)
लागत लाभ · संकीर्णReprocessing tailings that were already mined and crushed decades ago avoids the drilling, blasting and underground labour costs of conventional gold mining, giving DRDGOLD a lower cost structure than most primary producers. The advantage is site-specific, however: it depends on a finite, non-renewable supply of Witwatersrand-era tailings dumps that will eventually be exhausted.
मांग को क्या चलाता है
चक्रीयRevenue moves almost one-for-one with the gold price and with the exchange rate between the US dollar and the South African rand, since gold is priced in dollars but most of the company's costs are in rand. A stronger rand against the dollar therefore erodes profitability even if the tonnage processed and the dollar gold price stay unchanged.
प्रमुख जोखिम
- Gold price dependence — A drop in the gold price directly reduces revenue and could affect the company's ability to pay dividends and fund capital expenditure, since DRDGOLD has no ability to influence the price it is paid.
- Rand-dollar exchange rate — Gold is sold in US dollars but most operating costs are incurred in South African rand; a sustained strengthening of the rand against the dollar reduces reported profitability even at an unchanged gold price.
- Regulatory and licensing risk — Adverse changes to South African mining, water or environmental regulation, or difficulty maintaining the governmental approvals the operations depend on, could disrupt production or raise compliance costs.
- Operational disruption at key facilities — A major disruption at either the Ergo or Far West Gold Recoveries processing plants — mechanical failure, power supply issues or labour action — would have an outsized effect given the company's concentration in two operations.
खरीदने के पक्ष में तर्क
Buyers argue that reprocessing already-mined tailings gives DRDGOLD structurally lower costs and lower operational risk than conventional underground gold mining, and that a rising gold price flows through to profit almost directly since the feedstock itself is largely a sunk cost.
बेचने के पक्ष में तर्क
Sellers worry that the business depends entirely on a gold price and a rand-dollar exchange rate it cannot control, that its tailings feedstock is a depleting, non-renewable resource, and that South Africa's power supply and regulatory environment add operational risk conventional miners in more stable jurisdictions do not face.
Written by the editors, published on 18 अगस्त 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18 सितंबर 2026 with claude-haiku-4-5 — shared with all users
Harmony's Mine Waste Solutions reclaims gold from historical tailings dams near Klerksdorp and the company is expanding surface retreatment in the Free State and West Wits, the same business of re-mining old dumps that DRDGOLD runs at Ergo and Far West Gold Recoveries.
Pan African runs the Elikhulu and Barberton tailings retreatment plants, producing gold by reprocessing historical South African mine dumps exactly as DRDGOLD does, and competes for the same tailings resources, permits and water allocations.
Gold Fields mines gold in the same Witwatersrand basin through South Deep, selling identical bullion into the same market and competing with DRDGOLD for South African mining permits, skilled labour and investor capital.
AngloGold Ashanti is a large international gold producer that built and formerly owned the Mine Waste Solutions retreatment business, and it sells the same product to the same refiners and bullion buyers as DRDGOLD.
बैलेंस शीट और तरलता
राजस्व
$16.12B
अंतिम प्रकाशित तिमाही तक के पिछले 12 महीने — प्रति शेयर मेट्रिक्स से अनुमानित
शुद्ध आय
$6.15B
अंतिम प्रकाशित तिमाही तक के पिछले 12 महीने — प्रति शेयर मेट्रिक्स से अनुमानित
Free Cash Flow
$2.14B
कुल इक्विटी
$12.75B
कुल देनदारियाँ
$4.69B
Current Ratio
3.62
Interest Coverage
57.32
Debt/EBITDA
0.00
Earnings Per Share
राजस्व और शुद्ध आय
Free Cash Flow
आय विवरण
ऐतिहासिक विवरण
समय के साथ मार्जिन
समय के साथ ऋण
ऋण कितना भारी है
वृद्धि तालिका
वृद्धि — राजस्व
Fair Value अनुमान
Fair Value
$2285.66
वर्तमान मूल्य
$4050.00
Margin of Safety
-77.2%
Fair Value सीमा
$1485.68 - $3085.64
इस्तेमाल किए गए valuation methods के बीच का फैलाव, कोई सांख्यिकीय रूप से calibrated confidence interval नहीं।
अनुमान विधियाँ
मूल्यांकन मेट्रिक्स
P/E Ratio
562.59
ROE
33.4%
P/B Ratio
272.18
P/FCF
1691.28
Gross Margin
52.0%
ROIC
27.6%
लाभप्रदता Radar
मूल्य सृजन (प्रतिस्पर्धी बढ़त)
ROIC
27.6%
WACC
15.8%
ROIC − WACC
+11.8 pp
ROIC पूंजी की लागत से अधिक है — कंपनी शेयरधारकों के लिए मूल्य सृजित कर रही है।
Fundamental विश्लेषण मानदंड
पास (15)
- EPS shows upward trend
- EPS CAGR 55.37%
- Price CAGR 18.74%
- ROIC 27.6%
- Gross Margin 52.0%
- Debt/Equity ratio
- Operating Margin 49.8%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- ROE 52.6%
- Revenue Growth 5Y 16.2%
- PEG Ratio 0.24
- Earnings Quality (OCF/NI) 1.33
फेल (8)
- P/FCF 1691.28
- P/B Ratio 272.18
- CapEx intensity
- Price below Graham Number
- DCF valuation (Overvalued)
- Analyst Consensus 13% Buy
- Earnings Surprise avg -156.2%
- Piotroski F-Score 3/9
अनुपलब्ध (5)
- Dividend Payout NaN%
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
- Net Margin Trend (invalid data)
Piotroski F-Score
गंभीर वित्तीय चिंताएं
Earnings गुणवत्ता
उच्च गुणवत्ता: earnings नकदी द्वारा समर्थित
शेयर Dilution
शेयर वापस खरीद रही है। शेयरधारक अनुकूल
संस्थागत होल्डिंग
इस कंपनी के लिए कोई संस्थागत घोषणा उपलब्ध नहीं है।
प्रशासन
कार्यकारी टीम
| नाम | पद | आयु |
|---|---|---|
| Mr. Daniel Johannes Pretorius B.Proc., L.L.M., LLB | CEO & Executive Director | 58 |
| Mr. Wilhelm Jacobus Schoeman BTech Ana | Chief Operating Officer | 51 |
| Ms. Henriette Hooijer B.Com., C.A. | CFO & Executive Director | 44 |
| Ms. Refiloe Vengeni B.Com., L.L.B. | Legal Counsel | 36 |
| Mr. Kevin Peter Kruger M.D., P., P.M.B. | Head of Technical Services | 57 |
| Mr. Henry Gouws MDP | Head of Operations | 56 |
| Ms. Kgomotso Mbanyele | Company Secretary | 44 |
Audit जोखिम
5
बोर्ड जोखिम
10
मुआवजा जोखिम
9
शेयरधारक अधिकार जोखिम
8
भाग 2 · कीमत और खरीदने का समय
यह हिस्सा यह नहीं बताता कि कंपनी अच्छी है या नहीं: यह तय करने में मदद करता है कि उसे कब खरीदें, जब फंडामेंटल आपको आश्वस्त कर चुके हों। इसमें: तकनीकी विश्लेषण, संभावना, ऐतिहासिक गिरावट, गामा एक्सपोज़र।
Latest News
Recent headlines for DRDGF, sourced from Markets Gazette.