Harmony Gold Mining Co. Ltd. (HAR) — Cash Flow-to-Debt Ratio
Harmony Gold Mining Co. Ltd. (HAR) has a Cash Flow-to-Debt Ratio of 0.22x as of December 2025, meaning its operating cash flow of ZAC13.85 Billion could theoretically repay 0% of its total liabilities (ZAC62.42 Billion) in one year. See Harmony Gold Mining Co. Ltd. (HAR) flexibility index to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Harmony Gold Mining Co. Ltd. Cash Flow-to-Debt Ratio (1998–2025)
Historical debt coverage capacity for Harmony Gold Mining Co. Ltd. across 28 annual periods. For the full cash flow conversion analysis, see how efficiently does Harmony Gold Mining Co. Ltd. generate cash.
Annual Cash Flow-to-Debt Ratio for Harmony Gold Mining Co. Ltd. (1998–2025)
Year-by-year debt coverage analysis for Harmony Gold Mining Co. Ltd.. Check Harmony Gold Mining Co. Ltd. (HAR) cash earnings ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (ZAC) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.78x | ZAC22.65 Billion | ZAC28.99 Billion | ▼ -2.6% |
| 2024 | 0.80x | ZAC15.65 Billion | ZAC19.51 Billion | ▲ +80.3% |
| 2023 | 0.44x | ZAC9.95 Billion | ZAC22.36 Billion | ▲ +7.2% |
| 2022 | 0.41x | ZAC6.92 Billion | ZAC16.69 Billion | ▼ -19.5% |
| 2021 | 0.52x | ZAC9.18 Billion | ZAC17.82 Billion | ▲ +3936.2% |
| 2020 | 0.01x | ZAC272.08 Million | ZAC21.32 Billion | ▼ -96.1% |
| 2019 | 0.33x | ZAC4.68 Billion | ZAC14.19 Billion | ▲ +11.9% |
| 2018 | 0.30x | ZAC4.18 Billion | ZAC14.17 Billion | ▼ -22.9% |
| 2017 | 0.38x | ZAC3.64 Billion | ZAC9.53 Billion | ▼ -26.1% |
| 2016 | 0.52x | ZAC4.60 Billion | ZAC8.89 Billion | ▼ -80.1% |
| 2015 | 2.60x | ZAC24.61 Billion | ZAC9.47 Billion | ▲ +999.9% |
| 2014 | 0.24x | ZAC2.32 Billion | ZAC9.84 Billion | ▼ -28.6% |
| 2013 | 0.33x | ZAC3.26 Billion | ZAC9.85 Billion | ▼ -32.6% |
| 2012 | 0.49x | ZAC4.45 Billion | ZAC9.08 Billion | ▲ +106.3% |
| 2011 | 0.24x | ZAC2.32 Billion | ZAC9.76 Billion | ▲ +22.1% |
| 2010 | 0.19x | ZAC1.58 Billion | ZAC8.13 Billion | ▼ -85.1% |
| 2009 | 1.31x | ZAC2.29 Billion | ZAC1.75 Billion | ▲ +753.3% |
| 2008 | 0.15x | ZAC1.84 Billion | ZAC12.01 Billion | ▲ +91.1% |
| 2007 | 0.08x | ZAC1.16 Billion | ZAC14.46 Billion | ▲ +138.1% |
| 2006 | 0.03x | ZAC370.27 Million | ZAC10.98 Billion | ▲ +124.9% |
| 2005 | -0.14x | ZAC-1.40 Billion | ZAC10.38 Billion | ▼ -225.4% |
| 2004 | -0.04x | ZAC-380.48 Million | ZAC9.16 Billion | ▼ -120.4% |
| 2003 | 0.20x | ZAC1.32 Billion | ZAC6.46 Billion | ▼ -44.8% |
| 2002 | 0.37x | ZAC2.28 Billion | ZAC6.16 Billion | ▲ +243.5% |
| 2001 | 0.11x | ZAC394.85 Million | ZAC3.67 Billion | ▼ -13.8% |
| 2000 | 0.12x | ZAC287.34 Million | ZAC2.30 Billion | ▼ -77.2% |
| 1999 | 0.55x | ZAC505.58 Million | ZAC921.27 Million | ▲ +8881.8% |
| 1998 | 0.01x | ZAC3.53 Million | ZAC578.45 Million | — |