Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Namib Minerals files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
65.1
85.9
82.6
Cost of revenue
36.7
38.7
37
Gross profit
22.5
38.8
34.2
General and administrative
8.99
20.1
23.4
Interest expense
2.42
1.52
1.95
Pre-tax income
8.88
14.5
109
Income tax
5.25
10.9
7.33
Net income
3.63
3.59
101
EPS, basic
0.07
0.07
1.96
EPS, diluted
0.07
0.07
1.84
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
0.28
-0.32
1.89
Receivables
3.75
5.51
Inventory
3.19
3.91
Total current assets
8.95
16.2
Property, plant and equipment
37
41
Total assets
51
62.8
Accounts payable
31.5
37.9
Short-term debt
1.14
3.18
Total current liabilities
46
53.6
Total liabilities
82
102
Total debt
2.41
2.52
5.18
Shareholders' equity
-30.9
70.5
Total equity
-28.3
-30.9
-39.3
Total liabilities and equity
51
62.8
Cash flow statement
FY2023
FY2025
FY2025
Net income
3.63
3.59
101
Depreciation and amortization
2.71
4.14
7.27
Cash from operations
14.9
19.1
13.8
Capital expenditures
-6.21
-7.7
-11.3
Cash from investing
-5.63
-10.1
-12.4
Debt issued
4.06
2.57
3
Debt repaid
-5.21
-3.2
-3.21
Dividends paid
-7.92
-9.02
Cash from financing
-9.07
-9.65
0.8
Exchange rate effect
-0.01
-0.01
0.01
Net change in cash
0.23
-0.59
2.19
Free cash flow
8.72
11.4
2.53
Interest paid
1.02
0.53
0.86
Income taxes paid
0.94
7.75
10.4
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.15 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
41.4%
Gross profit / revenue.
Pre-tax margin
131.4%
Pre-tax income / revenue.
Net margin
122.5%
Net income / revenue.
FCF margin
3.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
16.7%
Cash from operations / revenue.
Effective tax rate
6.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
511.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
177.8%
Net income / average total assets.
Capex / revenue
13.6%
Capital expenditures / revenue.
D&A / revenue
8.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-3.8%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-11.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
2,720.0%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
2,529.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-27.9%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-77.9%
Free cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
23.0%
Total assets vs the same period a year earlier. Only from a positive base.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.30x
Current assets / current liabilities.
Quick ratio
0.14x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.04x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.07x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
8.3%
Total debt / total assets.
Liabilities / assets
162.5%
Total liabilities / total assets.
Net debt
$3.3M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
FCF conversion
2.5%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
81.6%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.84
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$1.96
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$64.0M
Share price x shares outstanding.
Enterprise value
$67.2M
Market cap + total debt - cash - short-term investments.
P/E
0.63x
Market cap / net income. Only when net income is positive.
P/S
0.77x
Market cap / revenue.
P/B
0.91x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.91x
Market cap / tangible book value, when positive.
P/FCF
25.3x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
4.64x
Market cap / cash from operations, when positive.
EV/Sales
0.81x
Enterprise value / revenue.
EV/FCF
26.6x
Enterprise value / free cash flow, when both are positive.
FCF yield
4.0%
Free cash flow / market cap.
Earnings yield
158.2%
Net income / market cap (the inverse of P/E).
What was Namib Minerals's revenue in fiscal 2025?
Namib Minerals reported revenue of $82.6M for fiscal 2025, 3.8% lower than the year before.
Was Namib Minerals profitable in fiscal 2025?
Yes. Net income was $101.2M, a net margin of 122.5%.
How much free cash flow did Namib Minerals generate in fiscal 2025?
Cash from operations of $13.8M minus capital expenditures of $11.3M left free cash flow of $2.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.