Harmony Gold Mining Co. Ltd. (HAR) — Free Cash Flow Generation Index
Harmony Gold Mining Co. Ltd. (HAR) has a Free Cash Flow Generation Index of 0.41x as of December 2025. Free cash flow of ZAC5.73 Billion represents 0% of operating cash flow (ZAC13.85 Billion). Explore reinvestment intensity of Harmony Gold Mining Co. Ltd. to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Harmony Gold Mining Co. Ltd. Free Cash Flow Generation Index (1998–2025)
Historical FCF Generation Index trend for Harmony Gold Mining Co. Ltd. across 26 annual periods. For the full cash flow conversion analysis, see HAR operating cash flow.
Annual Free Cash Flow Generation for Harmony Gold Mining Co. Ltd. (1998–2025)
Year-by-year Free Cash Flow Generation Index for Harmony Gold Mining Co. Ltd.. Check Harmony Gold Mining Co. Ltd. total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (ZAC) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.48x | ZAC10.79 Billion | ZAC22.65 Billion | ZAC11.86 Billion | ▲ +2.8% |
| 2024 | 0.46x | ZAC7.25 Billion | ZAC15.65 Billion | ZAC8.40 Billion | ▲ +99.7% |
| 2023 | 0.23x | ZAC2.31 Billion | ZAC9.95 Billion | ZAC7.64 Billion | ▲ +126.3% |
| 2022 | 0.10x | ZAC710.00 Million | ZAC6.92 Billion | ZAC6.21 Billion | ▼ -76.7% |
| 2021 | 0.44x | ZAC4.04 Billion | ZAC9.18 Billion | ZAC5.14 Billion | ▲ +86.6% |
| 2020 | 0.24x | ZAC64.12 Million | ZAC272.08 Million | ZAC207.96 Million | ▲ +411.1% |
| 2019 | -0.08x | ZAC-354.70 Million | ZAC4.68 Billion | ZAC5.04 Billion | ▲ +56.7% |
| 2018 | -0.17x | ZAC-731.24 Million | ZAC4.18 Billion | ZAC4.91 Billion | ▼ -716.3% |
| 2017 | -0.02x | ZAC-78.09 Million | ZAC3.64 Billion | ZAC3.72 Billion | ▼ -104.7% |
| 2016 | 0.46x | ZAC2.11 Billion | ZAC4.60 Billion | ZAC2.48 Billion | ▲ +212.3% |
| 2015 | -0.41x | ZAC-10.07 Billion | ZAC24.61 Billion | ZAC34.68 Billion | ▼ -135.9% |
| 2014 | -0.17x | ZAC-403.31 Million | ZAC2.32 Billion | ZAC2.73 Billion | ▲ +44.2% |
| 2013 | -0.31x | ZAC-1.01 Billion | ZAC3.26 Billion | ZAC4.27 Billion | ▼ -230.4% |
| 2012 | 0.24x | ZAC1.06 Billion | ZAC4.45 Billion | ZAC3.39 Billion | ▲ +173.7% |
| 2011 | -0.32x | ZAC-751.06 Million | ZAC2.32 Billion | ZAC3.07 Billion | ▲ +73.2% |
| 2010 | -1.21x | ZAC-1.91 Billion | ZAC1.58 Billion | ZAC3.49 Billion | ▼ -645.1% |
| 2009 | -0.16x | ZAC-370.17 Million | ZAC2.29 Billion | ZAC2.66 Billion | ▲ +88.0% |
| 2008 | -1.35x | ZAC-2.49 Billion | ZAC1.84 Billion | ZAC4.33 Billion | ▼ -1.5% |
| 2007 | -1.33x | ZAC-1.54 Billion | ZAC1.16 Billion | ZAC2.71 Billion | ▲ +68.6% |
| 2006 | -4.25x | ZAC-1.57 Billion | ZAC370.27 Million | ZAC1.94 Billion | ▼ -1837.5% |
| 2003 | 0.24x | ZAC321.86 Million | ZAC1.32 Billion | ZAC995.51 Million | ▼ -63.9% |
| 2002 | 0.68x | ZAC1.54 Billion | ZAC2.28 Billion | ZAC734.85 Million | ▲ +1048.0% |
| 2001 | -0.07x | ZAC-28.21 Million | ZAC394.85 Million | ZAC423.05 Million | ▼ -115.8% |
| 2000 | 0.45x | ZAC129.96 Million | ZAC287.34 Million | ZAC157.38 Million | ▼ -31.0% |
| 1999 | 0.66x | ZAC331.22 Million | ZAC505.58 Million | ZAC174.36 Million | ▲ +106.1% |
| 1998 | -10.67x | ZAC-37.70 Million | ZAC3.53 Million | ZAC41.23 Million | — |