
Sector: Copper & gold mining
COMM_ZIJIN
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 B 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 | RevenueB USD | Operating profitB USD | D&AB USD | EBITDAB USD | Net profitB USD | Operating CFB USD | Capex + M&AB USD | AssetsB USD | EquityB USD | ROE (annualized) | Net debtB USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | PARTIAL | 14.0 y/y 14.0% | 4.6 y/y 89.5% | 0.2 y/y -50.9% | 4.8 y/y 66.7% | 2.8 y/y 53.9% | — | -0.8 | 79.8 y/y 30.0% | 30.3 y/y 53.0% | 37.7% | 6.9 | Yahoo Finance |
| 2026-03-31 | Q1 2026 (3M) | PARTIAL | 14.2 y/y 30.8% | 4.2 y/y 124.0% | 0.5 y/y 75.5% | 4.7 y/y 118.2% | 2.9 y/y 107.0% | — | -1.9 | 79.7 y/y 40.4% | 29.0 y/y 44.4% | 41.7% | 8.0 | Yahoo Finance |
| 2025-12-31 | Q4 2025 (3M) | OK | 13.4 y/y — | 3.8 y/y — | — y/y 61.5% | 3.7 y/y — | 2.0 y/y — | — | -1.3 | 73.1 y/y 34.6% | 26.5 y/y 38.4% | 31.2% | 10.4 | Yahoo Finance |
| 2025-06-30 | Q2 2025 (3M) | PARTIAL | 12.3 y/y — | 2.4 y/y — | 0.5 y/y — | 2.9 y/y — | 1.8 y/y — | — | -3.0 | 61.4 y/y — | 19.8 y/y — | 36.5% | 15.5 | Yahoo Finance |
| 2025-03-31 | Q1 2025 (3M) | PARTIAL | 10.9 y/y — | 1.9 y/y — | 0.3 y/y — | 2.2 y/y — | 1.4 y/y — | — | -1.1 | 56.8 y/y — | 20.1 y/y — | 28.5% | 12.7 | Yahoo Finance |
| 2024-12-31 | FY 2024 (12M) | OK | 42.2 y/y 1.8% | 6.5 y/y 42.3% | 1.4 y/y 0.2% | 7.9 y/y 32.4% | 4.5 y/y 49.3% | 6.8 | -4.5 | 54.3 y/y 12.5% | 19.2 y/y 26.6% | 26.0% | 13.4 | Yahoo Finance |
| 2023-12-31 | FY 2023 (12M) | OK | 41.4 y/y — | 4.5 y/y — | 1.4 y/y — | 5.9 y/y — | 3.0 y/y — | 5.2 | -4.8 | 48.3 y/y — | 15.1 y/y — | — | 14.7 | Yahoo Finance |
| Short-term debt (incl. ST leases) | 4 882 |
| Long-term debt (incl. LT leases) | 15 505 |
| − Cash & equivalents | 13 458 |
| Net debt | 6 930 |
|---|
Net debt / LTM EBITDA: 0.5x
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Our earnings breakdowns and investment notes on this issuer.
Current 4 154spot vs LTM -2%
Target market cap from conservative EBITDA and the historical EV/EBITDA
Upside: -4.4% ▼ -1.1 pp 1d
Main driver: Gold -2% vs LTM; revenue ×1.06 vs costs ×1.11; EBITDA 16 017→11 975; at 9.3× EV/EBITDA → -4%.
Product prices — moves vs the LTM average
| Commodity | Share | Spot | LTM | 3-yr | vs LTM, $ | 3y vs LTM |
|---|---|---|---|---|---|---|
| Gold (rev) | +40% | 4 154.46 | 4 242.24 | 3 346.28 | -2% | -21% |
| Copper (rev) | +32% | 14 619.97 | 12 225.59 | 11 150.96 | +20% | -9% |
| US Diesel Index (cost) (input cost) (cost) | -10% | 6.38 | 4.21 | 4.19 | +51% | -1% |
| Zinc (rev) | +5% | 3 826.50 | 3 149.59 | 3 062.03 | +21% | -3% |
| Electricity Spot (input cost) (cost) | -5% | 117.40 | 77.92 | 62.56 | +51% | -20% |
| Silver (rev) | +2% | 60.34 | 62.30 | 44.22 | -3% | -29% |
How it is calculated — revenue → costs → EBITDA → target market cap
| 1 · Reported baseline (LTM) | |
| LTM revenue | 53 967 |
| LTM EBITDA | 16 017 |
| LTM cash costs (revenue − EBITDA) | 37 950 |
| 2 · Revenue projection | |
| Revenue multiplier — spot | ×1.065 (+6%) |
| = Spot revenue | 57 449 |
| Revenue multiplier — 3y price | ×0.880 (-12%) |
| = 3-year-price revenue | 47 502 |
| 3 · Costs projection | |
| Cost multiplier — spot | ×1.111 (+11%) |
| = Spot cash costs | 42 154 |
| Cost multiplier — 3y price | ×1.024 (+2%) |
| = 3-year-price cash costs | 38 845 |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 15 295 |
| = 3-year-price EBITDA | 8 656 |
| Conservative EBITDA = min(spot, avg) | 11 975 |
| 5 · Valuation → target market cap | |
| Historical EV/projected-EBITDA (75th pct) | 9.3x |
| Target EV = EV/EBITDA × conservative EBITDA | 111 372 |
| Net debt | 6 930 |
| Target market cap = EV − net debt | 104 442 |
| Current market cap | 109 281 |
Upside = target market cap ÷ current − 1 = -4.4%
Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.
| Period | Act. rev | Model rev | Δ rev | Act. EBITDA | Model EBITDA | Δ EBITDA |
|---|---|---|---|---|---|---|
| 2023 FY | 41 427 | 40 563 | +2.1% | 6 475 | 7 112 | -9.0% |
| 2024 FY | 42 166 | 46 849 | -10.0% | 8 674 | 10 936 | -20.7% |
| 2025 FY | 48 696 | 51 991 | -6.3% | 14 045 | 16 734 | -16.1% |
Projected EV/EBITDA 7.1x · target 75th pct (3y) 9.3x · LTM avg 11.0x
| Date | Per share | Details | Status | Source |
|---|---|---|---|---|
| 2026-07-23 | 0.484 HKD | Ex-dividend: 0.484 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2026-06-09 | 0.4367 HKD | Ex-dividend: 0.4367 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2025-09-10 | 0.2411 HKD | Ex-dividend: 0.2411 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2025-05-21 | 0.3033 HKD | Ex-dividend: 0.3033 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2024-08-01 | 0.1095 HKD | Ex-dividend: 0.1095 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2024-05-21 | 0.2199 HKD | Ex-dividend: 0.2199 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2023-12-12 | 0.0549 HKD | Ex-dividend: 0.0549 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2023-05-30 | 0.2227 HKD | Ex-dividend: 0.2227 HKD per share | Paid | Yahoo Finance (ex-div) |
| 2022-05-19 | 0.2326 HKD | Ex-dividend: 0.2326 HKD 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 Zijin Mining — from primary filings.
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