Harmony Gold Mining Company (HMY) Cash Flow: Operating & Free Cash Flow

Harmony Gold Mining Company (HMY) Cash Flow Statement

In fiscal 2026 (fiscal year ended Jun 30, 2026), Harmony Gold Mining Company generated ZAR 33.61B of operating cash flow and spent ZAR 17.84B on capital expenditures. That left free cash flow of ZAR 15.77B, up 46.1% from ZAR 10.79B a year earlier, or 15.9% of revenue. It paid ZAR 4.29B in dividends.

Harmony Gold Mining Company Cash Flow Statement Analysis

Values in billions ZAR

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Harmony Gold Mining Company Limited (HMY) - Annual data in billions ZAR
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jun 2026	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019	Jun 2018	Jun 2017
Operating Activities
Net Income	28.23	14.38	8.59	6.61	-1.06	6.38	-0.60	-2.75	-4.68	-0.26
Depreciation & Amortization	7.15	4.84	4.64	3.45	3.68	3.88	3.51	4.05	2.76	2.41
Deferred Income Tax	0.00	0.00	0.00	-10.50	-3.07	-11.57	-2.39	-1.90	6.11	1.86
Stock Based Compensation	0.76	0.70	0.25	0.11	0.15	0.16	0.18	0.23	0.39	0.38
Change in Working Capital	-0.93	-1.52	0.02	-0.32	-0.16	0.59	-0.55	0.00	-0.14	-0.26
Change in Accounts Receivable	-1.81	-1.24	-0.26	-0.63	0.00	-0.34	-0.02	0.03	-0.11	-0.39
Change in Inventory	-0.27	-0.27	-0.05	-0.31	-0.23	-0.04	-0.15	-0.09	-0.43	0.03
Change in Accounts Payable	1.15	0.00	0.33	0.62	0.05	0.97	-0.05	0.05	0.40	0.10
Change in Other Working Capital	0.00	0.00	0.99	9.95	0.02	9.18	-0.33	0.00	0.00	0.00
Other Operating Activities	-2.12	4.24	0.99	0.73	7.38	-1.27	0.12	5.05	-0.26	-0.48
Net Cash from Operating Activities	33.61	22.65	15.65	9.95	6.92	9.18	0.27	4.68	4.18	3.64
Investing Activities
Capital Expenditures	-17.85	-11.86	-8.40	-7.64	-6.21	-5.14	-0.21	-5.04	-4.91	-3.72
Acquisitions	0.07	0.00	-0.11	-3.00	0.02	-3.36	0.06	0.03	-4.14	0.43
Purchases of Investments	-0.03	0.00	-0.02	-0.14	-0.13	0.04	-0.02	-0.02	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	0.12	0.06	0.05	0.04	0.06	0.22	0.00	0.00
Other Investing Activities	-18.83	-0.10	-0.07	-0.01	0.07	-0.01	-0.10	-0.01	-0.03	0.05
Net Cash from Investing Activities	-37.39	-11.96	-8.36	-10.60	-6.20	-8.46	-0.20	-4.81	-9.08	-3.24
Financing Activities
Debt Repayment	4.36	-0.12	-4.29	-2.07	-0.72	-3.49	0.00	0.17	0.21	-0.01
Common Stock Issued	0.00	0.00	0.00	0.00	0.00	0.00	3.47	0.21	1.00	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	0.00	0.00	-2.88	0.00	0.00	0.00
Dividends Paid	-4.29	-2.06	-1.44	-0.15	-0.43	-0.68	0.00	0.00	-0.17	-0.43
Other Financing Activities	-0.10	-0.04	0.00	-0.02	-0.01	-0.12	0.25	0.00	3.67	0.42
Net Cash from Financing Activities	-0.34	-2.22	-5.44	1.19	-1.15	-4.30	0.25	0.38	4.42	-0.38
Summary
Effect of Forex Changes on Cash	0.53	-0.07	-0.03	-0.13	0.06	0.05	-0.01	0.01	-0.12	0.10
Net Change in Cash	-4.48	8.41	1.83	0.42	-0.37	-3.54	0.30	0.27	-0.61	0.13
Cash at Beginning of Period	12.03	4.69	2.87	2.45	2.82	6.36	0.07	0.72	1.31	1.11
Cash at End of Period	8.60	13.10	4.69	2.87	2.45	2.82	0.37	0.99	0.70	1.24
Free Cash Flow	15.77	10.79	7.25	2.31	0.71	4.04	0.06	-0.35	-0.73	-0.08
Supplemental Disclosures
Interest Paid	-	0.26	0.51	0.36	0.32	0.23	-	-	-	-
Income Taxes Paid	-	4.29	2.39	0.52	0.30	0.58	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Harmony Gold Mining Company Cash Flow

What is Harmony Gold Mining Company's free cash flow?

Harmony Gold Mining Company generated free cash flow of ZAR 15.77B in fiscal 2026 (fiscal year ended Jun 30, 2026), operating cash flow of ZAR 33.61B minus ZAR 17.84B of capital expenditures. That was up 46.1% from ZAR 10.79B a year earlier. Free cash flow equaled 15.9% of revenue.

How much does Harmony Gold Mining Company spend on capital expenditures?

Harmony Gold Mining Company spent ZAR 17.84B on capital expenditures in fiscal 2026, compared with ZAR 11.86B a year earlier. That equals 53.1% of operating cash flow.

Does Harmony Gold Mining Company pay dividends or buy back shares?

Yes. In fiscal 2026 Harmony Gold Mining Company returned ZAR 4.29B in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition