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Gold Fields Limited

GFI.JO
76
Gold · Basic Materials
Price
75935.00 ZAc
+3430.00 (+4.73%)
Market Cap
679.64B ZAc
Exchange
Johannesburg Stock Exchange
Winston Score
76
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Exceptional
Growth
Strong
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Strong
Dividends
Exceptional

Winston Score History

The full picture

Gold Fields Limited is a major gold mining company based in South Africa. It digs gold out of the ground at mines located across multiple continents and sells that gold to refiners, central banks, jewelers, and industrial buyers around the world. Gold Fields is one of the largest gold producers globally, with a portfolio of mines spanning South Africa, Ghana, Australia, Peru, and Chile.

The company makes money by selling the gold it produces, so its revenue rises and falls with the global price of gold. With a gross margin near 59% and strong returns on invested capital, Gold Fields has shown it can run its mines efficiently compared to many peers. It operates at significant scale, producing millions of ounces of gold per year. The key growth driver is the Salares Norte mine in Chile, which reached full production recently and is expected to meaningfully boost output — though falling gold prices or rising mining costs remain the primary risks to profitability.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+78.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+218.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.1%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$2.0B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Gold Fields Limited grew revenue 79% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 893.5M (2021) → 897.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
56.7%
Premium pricing power — 56.7% gross margin
Profit after running costs
Operating Margin
51.3%
Excellent — 51.3% operating margin
Return on the money invested
ROCE
41.8%
Exceptional — 41.8% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+72.6%
Fast-growing sales (+72.6% YoY)
Profit growth
EPS YoY
+201.5%
Earnings growing fast (+201.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
123%
Turns 123% of profit into real cash
Spare cash per sale
FCF Margin
34.6%
Converts sales into free cash efficiently (34.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.38
Conservative — low debt load (0.38)
Covers its interest
Interest Cover
65.35x
Comfortably covers interest (65.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.6x
Attractive valuation — P/E 11.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+3.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (11.6 → 8.5)

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Dividends

Dividend
Dividend Yield
4.45%
Healthy income — 4.45% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+168.5%
Dividend growing fast (168.5% YoY)

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