Sector: Copper mining
COMM_KGH
Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.
Shares: connector/market_inputs
Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.
| Date | Period | Status | RevenueM USD | Operating profitM USD | D&AM USD | EBITDAM USD | Net profitM USD | Operating CFM USD | Capex + M&AM USD | AssetsM USD | EquityM USD | ROE (annualized) | Net debtM USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | OK | 3488.9 y/y 51.8% | 562.8 y/y 110.5% | 148.1 y/y -0.2% | 710.9 y/y 71.0% | 557.1 y/y 738.5% | 509.8 | -214.9 | 17470.0 y/y 16.2% | 10541.6 y/y 19.1% | 21.8% | 1241.6 | Yahoo Finance |
| 2026-03-31 | Q1 2026 (3M) | OK | 3247.4 y/y — | 1113.8 y/y — | 133.5 y/y — | 1247.3 y/y — | 965.3 y/y — | 186.0 | -226.2 | 17011.2 y/y — | 9903.2 y/y — | 40.6% | 1542.5 | Yahoo Finance |
| 2025-12-31 | Q4 2025 (3M) | OK | 2883.4 y/y — | 284.1 y/y — | 183.5 y/y — | 467.6 y/y — | 734.9 y/y — | 371.7 | -354.4 | 16212.5 y/y 23.8% | 9138.4 y/y 21.3% | 10.9% | 1306.7 | Yahoo Finance |
| 2025-09-30 | Q3 2025 (3M) | OK | 2281.2 y/y — | 238.4 y/y — | 187.7 y/y — | 426.1 y/y — | 118.8 y/y — | 237.0 | -273.5 | 15153.6 y/y — | 8884.7 y/y — | 1.8% | 1515.7 | Yahoo Finance |
| 2025-06-30 | Q2 2025 (3M) | OK | 2298.3 y/y — | 267.3 y/y — | 148.3 y/y — | 415.7 y/y — | 66.4 y/y — | 110.7 | -190.8 | 15030.3 y/y — | 8853.5 y/y — | 3.2% | 1499.0 | Yahoo Finance |
| 2024-12-31 | FY 2024 (12M) | OK | 8841.3 y/y 10.3% | 929.2 y/y — | 502.1 y/y -9.3% | 1431.3 y/y 592.6% | 717.9 y/y — | 1174.0 | -1378.3 | 13096.8 y/y 0.1% | 7531.2 y/y 3.5% | 9.7% | 1153.6 | Yahoo Finance |
| 2023-12-31 | FY 2023 (12M) | OK | 8014.3 y/y — | -346.8 y/y — | 553.4 y/y — | 206.7 y/y — | -885.6 y/y — | 1449.0 | -1149.0 | 13084.2 y/y — | 7273.8 y/y — | — | 836.5 | Yahoo Finance |
| Short-term debt (incl. ST leases) | 363 |
| Long-term debt (incl. LT leases) | 1 201 |
| − Cash & equivalents | 323 |
| Net debt | 1 242 |
|---|
Net debt / LTM EBITDA: 0.4x
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Our earnings breakdowns and investment notes on this issuer.
Current 14 620spot vs LTM +19%
Target market cap from conservative EBITDA and the historical EV/EBITDA
Upside: +5.1% ▼ -3.5 pp 1d
Main driver: Copper +20% vs LTM; revenue ×1.14 vs costs ×1.11; EBITDA 3 977→3 530; at 5.6× EV/EBITDA → +5%.
Product prices — moves vs the LTM average
| Commodity | Share | Spot | LTM | 3-yr | vs LTM, $ | 3y vs LTM |
|---|---|---|---|---|---|---|
| Copper (rev) | +72% | 14 619.97 | 12 225.59 | 11 150.96 | +20% | -9% |
| Silver (rev) | +18% | 60.34 | 62.30 | 44.22 | -3% | -29% |
| US Diesel Index (cost) (input cost) (cost) | -10% | 6.38 | 4.21 | 4.19 | +51% | -1% |
| Electricity Spot (input cost) (cost) | -5% | 117.40 | 77.92 | 62.56 | +51% | -20% |
| Gold (rev) | +4% | 4 154.46 | 4 242.24 | 3 346.28 | -2% | -21% |
| Molybdenum (rev) | +2% | 35.90 | 28.39 | 26.13 | +26% | -8% |
How it is calculated — revenue → costs → EBITDA → target market cap
| 1 · Reported baseline (LTM) | |
| LTM revenue | 11 901 |
| LTM EBITDA | 3 977 |
| LTM cash costs (revenue − EBITDA) | 7 924 |
| 2 · Revenue projection | |
| Revenue multiplier — spot | ×1.140 (+14%) |
| = Spot revenue | 13 565 |
| Revenue multiplier — 3y price | ×0.874 (-13%) |
| = 3-year-price revenue | 10 406 |
| 3 · Costs projection | |
| Cost multiplier — spot | ×1.111 (+11%) |
| = Spot cash costs | 8 801 |
| Cost multiplier — 3y price | ×1.024 (+2%) |
| = 3-year-price cash costs | 8 111 |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 4 763 |
| = 3-year-price EBITDA | 2 296 |
| Conservative EBITDA = min(spot, avg) | 3 530 |
| 5 · Valuation → target market cap | |
| Historical EV/EBITDA (75th pct) | 5.6x |
| Target EV = EV/EBITDA × conservative EBITDA | 19 731 |
| Net debt | 1 242 |
| Target market cap = EV − net debt | 18 422 |
| Current market cap | 17 524 |
Upside = target market cap ÷ current − 1 = +5.1%
Current 4.7x · 3-year 75th pct 5.6x
| Date | Per share | Details | Status | Source |
|---|---|---|---|---|
| 2026-06-24 | 1.5 PLN | Ex-dividend: 1.5 PLN per share | Paid | Yahoo Finance (ex-div) |
| 2024-06-27 | 3 PLN | Ex-dividend: 3 PLN per share | Paid | Yahoo Finance (ex-div) |
| 2023-07-26 | 1 PLN | Ex-dividend: 1 PLN per share | Paid | Yahoo Finance (ex-div) |
| 2022-07-06 | 3 PLN | Ex-dividend: 3 PLN per share | Paid | Yahoo Finance (ex-div) |
KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).
Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)
Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of KGHM Polska Miedz — from primary filings.
See also: The Cheapest Metals & Mining Stocks (2026): Copper, Steel, Silver by Valuation · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map