AngloGold Ashanti Limited
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
12.7514.0223.7730.23
Price/Sales ratio
3.613.623.563.69
Earnings per Share (EPS)
$4.10$3.72$2.2$1.73

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-47.9393.8170.0630.1424.2325.679.4214.3635.30-32.5727.4624.23
Price/Sales ratio
0.710.721.041.281.562.652.072.181.821.671.512.65
Price/Book Value ratio
1.241.191.621.641.973.542.552.182.032.062.371.97
Price/Cash Flow ratio
2.902.553.724.386.108.925.626.954.567.884.278.92
Price/Free Cash Flow ratio
9.436.129.2913.5718.5627.6510.1638.8632.01-107.8016.7827.65
Price/Earnings Growth ratio
0.49-0.660.710.220.490.380.05-0.37-0.560.160.390.39
Dividend Yield
0.47%0.17%0.33%0.89%0.45%0.28%0.39%2.72%2.46%1.39%1.76%0.45%
Profitability Indicator Ratios
Gross Profit Margin
20.27%18.23%19.79%23.36%22.66%25.61%38.47%29.08%25.34%22.41%28.90%22.66%
Operating Profit Margin
15.04%10.06%12.88%15.96%14.77%17.30%32.12%20.12%17.97%15.21%14.71%17.30%
Pretax Profit Margin
3.43%6.40%6.36%9.66%13.33%17.56%35.40%23.55%10.48%1.37%14.97%13.33%
Net Profit Margin
-1.49%0.77%1.49%4.27%6.47%10.32%21.95%15.23%5.17%-5.12%4.62%10.32%
Effective Tax Rate
132.35%82.10%70.26%49.69%47.64%40.38%38.41%32.77%46.82%452.38%69.39%47.64%
Return on Assets
-0.81%0.42%0.88%2.00%3.25%5.30%13.09%7.66%2.90%-2.87%4.05%3.25%
Return On Equity
-2.60%1.27%2.32%5.44%8.14%13.78%27.06%15.17%5.76%-6.33%9.05%8.14%
Return on Capital Employed
9.14%6.14%8.50%8.51%8.42%11.83%21.87%11.29%11.34%10%15.36%8.42%
Liquidity Ratios
Current Ratio
1.671.901.531.331.541.372.43N/AN/AN/A1.931.54
Quick Ratio
0.770.990.650.940.720.781.661.731.551.111.340.72
Cash ratio
0.470.680.280.230.410.261.381.391.250.80.870.41
Days of Sales Outstanding
4.793.093.022.903.614.864.444.521.621.9930.843.61
Days of Inventory outstanding
82.0971.8272.4195.8492.2487.9794.6389.8183.9785.1155.3687.97
Operating Cycle
86.8874.9175.4498.7495.8592.8499.0894.3485.5987.1086.2192.84
Days of Payables Outstanding
36.7034.0241.0550.2349.5150.8152.0351.8642.4747.6354.7049.51
Cash Conversion Cycle
50.1840.8934.3848.5146.3342.0347.0542.4743.1139.4631.5142.03
Debt Ratios
Debt Ratio
0.400.370.300.300.300.290.250.230.240.270.240.29
Debt Equity Ratio
1.301.120.80.820.770.770.510.470.490.600.510.77
Long-term Debt to Capitalization
0.550.520.440.440.410.320.320.310.320.350.310.32
Total Debt to Capitalization
0.560.520.440.450.430.430.340.320.320.370.340.43
Interest Coverage Ratio
3.0641523.543.182.954.699.59N/AN/AN/A9.152.95
Cash Flow to Debt Ratio
0.320.410.540.450.410.510.870.660.900.431.060.41
Company Equity Multiplier
3.212.992.632.712.502.592.061.971.982.202.132.59
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.240.280.280.290.250.290.360.310.400.210.290.25
Free Cash Flow / Operating Cash Flow Ratio
0.300.410.400.320.320.320.550.170.14-0.070.300.32
Cash Flow Coverage Ratio
0.320.410.540.450.410.510.870.660.900.431.060.41
Short Term Coverage Ratio
5.4711.3942.3526.236.161.4211.9124.8690.24.4911.056.16
Dividend Payout Ratio
-22.97%16.12%23.80%26.89%11.11%7.41%3.76%39.08%87.12%-45.53%58.90%11.11%