Kumba Iron Ore Ltd KIROY

MaterialsMetals & MiningSouth Africa

Last close 4.39 USD on Nov 2, 2026, −33.5% year to date

Quant rating

Quant rating D Rank 196 of 220 in Materials

Growth D 189 of 220
Valuation B 38 of 220
Quality D 165 of 220
Revisions D 193 of 220
Momentum D 163 of 220

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.2B
Enterprise value: 4.5B
52-week range: 4.36 – 8.47
3-year range: 4.36 – 11.15
Dividend yield: 10.76%
Beta (5 years): 0.88
Shares outstanding: 322M
Next earnings: –

About the company

Kumba Iron Ore Limited is a supplier of iron ore to the global steel industry. The Company is engaged in exploration, extraction, beneficiation, marketing, sale and shipping of iron ore. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province. The Company's segments include Sishen mine, Kolomela mine, Logistics and Shipping operations and Others. It operates primarily in South Africa, with mining operations in the Northern Cape Province and a port operation in Saldanha Bay, Western Cape. It has approximately 75.37% interest in Sishen Iron Ore Company Proprietary Limited (SIOC). Its Sishen mine is near the town of Kathu in the Northern Cape Province. Its Kolomela mine is near Postmasburg in the Northern Cape Province. Its logistics processes and infrastructure serve as the link between its operations and its clients. Its Northern Cape operations are serviced by a dedicated iron ore rail link. Its product range includes hematite (Fe2O3) and magnetite (Fe3O4).

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2015	2014	2013	2012	2011	5Y avg
Revenue (mil)	4,231	3,635	4,717	4,354	6,384	–
Revenue growth	16.4%	−22.9%	8.3%	−31.8%	17.1%	−5.0%
EPS (basic, normalized)	–	1.03	1.53	1.42	0.81	–
EPS growth	–	−32.7%	7.7%	74.7%	–	–
Gross margin	86.4%	82.6%	90.1%	95.2%	92.2%	89.3%
Net margin	20.8%	21.4%	26.4%	20.2%	32.6%	24.3%
ROE	27.1%	28.0%	48.8%	34.9%	72.3%	42.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2015 actual	4,231	+16.4%	1.1x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2016	–	–	–	–	–	–	–	–
2017	–	–	–	–	–	–	–	–
2018	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
KIROY Kumba Iron Ore Ltd	4.2B	–	20.8%	1.30x	–	–	–	–
NUE Nucor Corporation	63.0B	1.14x	5.3%	2.76x	14.1x	12.6x	8.6x	8.1x
VALE Vale S.A.	50.6B	0.91x	6.5%	–	7.0x	7.0x	4.2x	4.2x
STLD Steel Dynamics Inc	35.8B	1.49x	6.5%	3.65x	14.4x	11.5x	9.5x	8.0x
RS Reliance, Inc.	22.8B	1.06x	5.2%	2.96x	16.8x	17.4x	11.1x	11.7x
X United States Steel Corp	12.4B	2.73x	−8.1%	–	–	–	–	–
Mean		1.47x	6.0%	2.66x	13.1x	12.1x	8.3x	8.0x
Median		1.14x	5.9%	2.86x	14.3x	12.1x	9.1x	8.0x

Technical analysis

1M−2.9%
3M−15.7%
1Y−29.7%
3Y−36.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Kumba Iron Ore Ltd, fiscal years, most recent first
	2015	2014	2013	2012	2011	2010
Total revenue	4,231	3,635	4,717	4,354	6,384	5,454
Cost of revenue	575	632	468	210	497	701
Gross profit	3,656	3,003	4,249	4,144	5,887	4,753
Selling, general & administrative expenses	536	443	445	415	632	581
Research & development	–	–	–	–	–	–
Depreciation/amortization	372	303	274	295	316	338
Interest expense (income), operating	13.8	−18.6	−35.2	−12.3	13.4	12.5
Unusual expense (income)	−42.7	−201	3.7	323	−0.6	1.3
Other operating expenses	1,222	1,078	1,335	1,543	1,205	1,039
Operating income	1,555	1,398	2,226	1,581	3,721	2,780
Net interest income (expense)	38.2	21.7	5.7	−0.2	37.8	31.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−9.6	−6.4	−3.4	−6.1	−6.9	−6.5
Net income before taxes	1,584	1,414	2,229	1,574	3,752	2,805
Provision for taxes	427	391	599	419	1,022	774
Minority interest	−274	−243	−387	−276	−650	−481
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	882	780	1,243	880	2,080	1,551
Extraordinary items	–	–	–	–	–	–
Net income	882	780	1,243	880	2,080	1,551
EBIT, normalized	1,526	1,179	2,195	1,891	3,734	2,794
EBITDA, normalized	1,898	1,482	2,469	2,186	4,050	3,133
Basic EPS, normalized	–	1.03	1.53	1.42	0.81	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Kumba Iron Ore Ltd, fiscal years, most recent first
	2015	2014	2013	2012	2011	2010
Assets
Cash & short-term investments	913	897	969	966	1,121	1,546
Receivables	395	308	540	333	487	583
Total inventory	585	510	623	502	424	399
Prepaid expenses	34.6	28.5	28.1	15.3	22.8	13.3
Other current assets	0	0	0	0	0	0
Total current assets	1,927	1,743	2,161	1,816	2,055	2,541
Property, plant & equipment	3,634	2,981	2,689	2,548	2,730	2,768
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	74.2	53.7	49.3	49.8	52.8	44.7
Note receivable	8.8	3.6	2.7	3.4	3.9	4.8
Other long-term assets	617	457	499	444	279	260
Total assets	6,262	5,238	5,400	4,861	5,120	5,618
Liabilities
Accounts payable	557	369	356	357	452	315
Payable/accrued	–	–	–	–	–	–
Accrued expenses	64.4	53.1	70.5	25.3	24.8	24.8
Short-term debt	0	106	227	399	0	0
Current portion of long-term debt	5.7	6.5	9.6	8.6	9.1	12.2
Other current liabilities	157	106	144	118	141	179
Total current liabilities	784	641	807	909	627	531
Long-term debt	6.6	3.7	9.8	9.2	17.2	22.8
Minority interest	1,031	875	886	751	865	1,004
Other liabilities	1,123	918	851	778	820	830
Total liabilities	2,944	2,437	2,555	2,447	2,330	2,388
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	22.2	19.5	20.1	21.6	22.9	25.0
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	3,166	2,629	2,668	2,271	2,670	3,140
Treasury stock	−41.5	−29.5	−32.8	−36.3	−34.8	−33.0
Other equity	171	182	190	158	132	98.2
Total equity	3,317	2,802	2,845	2,414	2,790	3,230
Total liabilities & shareholders' equity	6,262	5,238	5,400	4,861	5,120	5,618

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Kumba Iron Ore Ltd, fiscal years, most recent first
	2015	2014	2013	2012	2011	2010
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	1,636	1,552	1,603	1,634	3,061	–
Cash from operations	1,636	1,552	1,603	1,634	3,061	–
Investing activities
Capital expenditures	−606	−513	−539	−652	−391	–
Other investing cash flows	8.5	2.7	0.7	1.4	−1.0	–
Cash from investing	−597	−510	−539	−650	−392	–
Financing activities
Financing cash flow items	−227	−228	−213	−348	−718	–
Cash dividends paid	−710	−734	−685	−1,121	−2,296	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−147	−135	−163	372	−22.4	–
Cash from financing	−1,084	−1,097	−1,061	−1,098	−3,037	–
Foreign exchange effects	−63.8	12.6	68.3	25.6	69.4	–
Net change in cash	−108	−42.9	71.0	−88.3	−299	–
Free cash flow	1,031	1,039	1,063	983	2,670	–

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.