Harmony Gold Mining Co. Ltd. (HAR) — Capital Reinvestment Ratio
Harmony Gold Mining Co. Ltd. (HAR) has a Capital Reinvestment Ratio of 0.59x as of December 2025, meaning it reinvests 1% of its operating cash flow (ZAC13.85 Billion) in capital expenditures (ZAC8.12 Billion). Check tangible equity quality of Harmony Gold Mining Co. Ltd. to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Harmony Gold Mining Co. Ltd. Capital Reinvestment Ratio (1998–2025)
This chart tracks Harmony Gold Mining Co. Ltd.'s Capital Reinvestment Ratio across 26 annual periods. For the full cash flow conversion analysis, see Harmony Gold Mining Co. Ltd. (HAR) cash conversion ratio.
Annual Capital Reinvestment Ratio for Harmony Gold Mining Co. Ltd. (1998–2025)
Year-by-year Capital Reinvestment Ratio for Harmony Gold Mining Co. Ltd. from 1998 to 2025. See Harmony Gold Mining Co. Ltd. free cash flow efficiency to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (ZAC) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.52x | ZAC22.65 Billion | ZAC11.86 Billion | ▼ -2.4% |
| 2024 | 0.54x | ZAC15.65 Billion | ZAC8.40 Billion | ▼ -30.1% |
| 2023 | 0.77x | ZAC9.95 Billion | ZAC7.64 Billion | ▼ -14.4% |
| 2022 | 0.90x | ZAC6.92 Billion | ZAC6.21 Billion | ▲ +60.2% |
| 2021 | 0.56x | ZAC9.18 Billion | ZAC5.14 Billion | ▼ -26.7% |
| 2020 | 0.76x | ZAC272.08 Million | ZAC207.96 Million | ▼ -28.9% |
| 2019 | 1.08x | ZAC4.68 Billion | ZAC5.04 Billion | ▼ -8.4% |
| 2018 | 1.17x | ZAC4.18 Billion | ZAC4.91 Billion | ▲ +15.0% |
| 2017 | 1.02x | ZAC3.64 Billion | ZAC3.72 Billion | ▲ +89.1% |
| 2016 | 0.54x | ZAC4.60 Billion | ZAC2.48 Billion | ▼ -61.7% |
| 2015 | 1.41x | ZAC24.61 Billion | ZAC34.68 Billion | ▲ +20.1% |
| 2014 | 1.17x | ZAC2.32 Billion | ZAC2.73 Billion | ▼ -10.5% |
| 2013 | 1.31x | ZAC3.26 Billion | ZAC4.27 Billion | ▲ +72.2% |
| 2012 | 0.76x | ZAC4.45 Billion | ZAC3.39 Billion | ▼ -42.5% |
| 2011 | 1.32x | ZAC2.32 Billion | ZAC3.07 Billion | ▼ -40.0% |
| 2010 | 2.21x | ZAC1.58 Billion | ZAC3.49 Billion | ▲ +89.9% |
| 2009 | 1.16x | ZAC2.29 Billion | ZAC2.66 Billion | ▼ -50.6% |
| 2008 | 2.35x | ZAC1.84 Billion | ZAC4.33 Billion | ▲ +0.9% |
| 2007 | 2.33x | ZAC1.16 Billion | ZAC2.71 Billion | ▼ -55.6% |
| 2006 | 5.25x | ZAC370.27 Million | ZAC1.94 Billion | ▲ +594.1% |
| 2003 | 0.76x | ZAC1.32 Billion | ZAC995.51 Million | ▲ +134.2% |
| 2002 | 0.32x | ZAC2.28 Billion | ZAC734.85 Million | ▼ -69.9% |
| 2001 | 1.07x | ZAC394.85 Million | ZAC423.05 Million | ▲ +95.6% |
| 2000 | 0.55x | ZAC287.34 Million | ZAC157.38 Million | ▲ +58.8% |
| 1999 | 0.34x | ZAC505.58 Million | ZAC174.36 Million | ▼ -97.0% |
| 1998 | 11.67x | ZAC3.53 Million | ZAC41.23 Million | — |