What is Valterra Platinum's P/E ratio?

Valterra Platinum trades at a P/E of 23.9x (price to trailing 12-month earnings).

What is Valterra Platinum's EV/EBITDA?

Valterra Platinum trades at 10.3x EV/EBITDA.

What is Valterra Platinum's P/B ratio?

Valterra Platinum trades at a P/B of 3.7x.

What is Valterra Platinum's dividend yield?

Valterra Platinum's trailing 12-month dividend yield is 6.8%.

What is Valterra Platinum's return on equity (ROE)?

Valterra Platinum's ROE is 30.0%.

What is Valterra Platinum's market capitalization?

Valterra Platinum's market cap is 367.8 bn ZAR.

Valterra Platinum (VAL) Stock — Financials, Valuation & Dividends

Price chart

1 393.87 ZARDay 1.81%

Key metrics

Market

Price

1 393.87 ZAR · 1.81%

Market cap

367.8 bn ZAR

Growth

Δ revenue y/y

30.3%

Δ EBITDA y/y

161.4%

Multiples

P/E (LTM)

23.9x

P/B (FY)

3.7x

P/E (ann.)

12.4x

EV/EBITDA (LTM)

10.3x

EV/EBITDA (ann.)

7.0x

Cash return

Dividend yield

6.8%

FCF yield (LTM)

-1.1%

Value creation

to target market cap (spot commodity model)

Upside (potential)

-48.1%

↓ details

Liquidity

Daily turnover (listing)

1.4 bln ZAR

Shares: yahoo_fundamentals_timeseries/VAL.JO

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B ZAR, 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 ZAR	Operating profitB ZAR	D&AB ZAR	EBITDAB ZAR	Net profitB ZAR	Operating CFB ZAR	Capex + M&AB ZAR	AssetsB ZAR	EquityB ZAR	ROE (annualized)	Net debtB ZAR	Source
2025-12-31	H2 2025 (6M)	OK	74.0 y/y 6.7% y/y 30.3%	23.3 y/y 59.7% y/y 289.3%	4.2 y/y 4.6% y/y -1.7%	27.6 y/y 41.9% y/y 167.7%	14.8 y/y 118.4% y/y 1910.2%	25.8	-9.3	170.7 y/y -0.2%	98.5 y/y -3.1%	16.7%	-12.1	—
2025-06-30	H1 2025 (6M)	OK	42.3 y/y -18.9% y/y -18.9%	2.9 y/y -71.9% y/y -71.9%	4.0 y/y 12.3% y/y 12.3%	6.9 y/y -50.7% y/y -50.7%	0.6 y/y -90.7% y/y -90.7%	3.1	-8.0	163.1 y/y -8.9%	85.7 y/y -17.2%	1.2%	1.7	Link
2024-12-31	H2 2024 (6M)	OK	56.8 y/y -12.5% y/y -5.2%	6.0 y/y -13.3% y/y -33.7%	4.3 y/y 23.8% y/y 25.4%	10.3 y/y -4.0% y/y -17.5%	0.7 y/y -45.9% y/y -86.1%	15.8	-10.4	170.9 y/y 1.0%	101.7 y/y 2.1%	6.9%	-18.5	—
2024-06-30	H1 2024 (6M)	OK	52.2 y/y -19.3% y/y -19.3%	10.5 y/y 5.4% y/y 5.4%	3.5 y/y 21.9% y/y 21.9%	14.0 y/y 9.1% y/y 9.1%	6.3 y/y -18.3% y/y -18.3%	11.0	-8.6	179.0 y/y 1.3%	103.5 y/y 5.5%	12.4%	≈ -16.0	Link
2023-12-31	H2 2023 (6M)	OK	59.9 y/y — y/y —	9.1 y/y — y/y —	3.4 y/y — y/y —	12.5 y/y — y/y —	5.3 y/y — y/y —	6.7	-12.6	169.2 y/y —	99.6 y/y —	13.2%	-16.0	—
2023-06-30	H1 2023 (6M)	OK	64.7 y/y — y/y —	9.9 y/y — y/y —	2.9 y/y — y/y —	12.8 y/y — y/y —	7.7 y/y — y/y —	9.8	-8.3	176.7 y/y —	98.1 y/y —	—	—	Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values (ZAR mln)

Year-over-year change

Cash flow

FCF (ZAR mln)

Net debt / cash (ZAR mln)

Profit and cash

Profit is cash-backed

In a typical year of 2022–2025 operating cash flow came to 1.57x of reported net profit; after capex, 0.66x.

year	2022	2023	2024	2025
cash flow / profit	0.92x	1.27x	3.80x	1.87x
accruals, % of assets	2.1%	-2.1%	-11.6%	-7.9%

Last twelve months (to 2025-12-31): 1.87x of profit came back as operating cash flow.

net debt / EBITDA -0.4x · capex 2.6x of depreciation

Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Key-commodity price — Platinum

Current 1 896spot vs LTM +23%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -48.1%

Main driver: Platinum +46% vs LTM; revenue ×1.23 vs costs ×1.04; EBITDA 31 663→36 612; at 4.8× EV/EBITDA → -48%.

Product prices — moves vs the LTM average

Commodity	Share	Spot	LTM	3-yr	vs LTM, $	vs LTM, ZAR	3y vs LTM
Platinum (rev)	+45%	1 896.30	1 301.45	1 325.27	+46%	+31%	+2%
Palladium (rev)	+30%	1 403.00	1 174.67	1 210.15	+19%	+7%	+3%
Rhodium (rev)	+25%	8 850.00	6 280.75	6 441.54	+41%	+26%	+3%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue	116 330
LTM EBITDA	31 663
LTM cash costs (revenue − EBITDA)	84 667
2 · Revenue projection
Revenue multiplier — spot	×1.225 (+23%)
= Spot revenue	142 534
Revenue multiplier — 3y price	×0.918 (-8%)
= 3-year-price revenue	106 797
3 · Costs projection
Cost multiplier — spot	×1.040 (+4%)
= Spot cash costs	88 054
Cost multiplier — 3y price	×1.040 (+4%)
= 3-year-price cash costs	88 054
4 · EBITDA projection (revenue − costs)
= Spot EBITDA	54 480
= 3-year-price EBITDA	18 744
Conservative EBITDA = min(spot, avg)	36 612
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)	4.8x
Target EV = EV/EBITDA × conservative EBITDA	175 386
Net debt	-12 093
Target market cap = EV − net debt	187 479
Current market cap	361 295

Upside = target market cap ÷ current − 1 = -48.1%

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
2024 H1	52 213	51 751	+0.9%	13 990	482	—
2024 H2	56 774	56 233	+1.0%	10 302	11 981	-14.0%
2025 H1	42 337	57 801	-26.8%	6 902	14 187	-51.3%
2025 H2	73 993	73 768	+0.3%	24 761	31 585	-21.6%

Revenue growth & acceleration

Growth accelerating ▲

Last-year revenue growth +7% vs -13% the year before — a +19.3 pp move. 3-year CAGR -11%.

revenue growth by year: 2023 -24% · 2024 -13% · 2025 +7%

The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 7.3x · target 75th pct (3y) 18.4x · LTM avg 11.9x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

Date	Per share	Details	Status	Source
2026-08-19	5 700 ZAR	Ex-dividend: 5 700 ZAR per share	Paid	Yahoo Finance (ex-div)
2026-03-25	4 300 ZAR	Ex-dividend: 4 300 ZAR per share	Paid	Yahoo Finance (ex-div)
2025-08-20	200 ZAR	Ex-dividend: 200 ZAR per share	Paid	Yahoo Finance (ex-div)
2025-04-23	6 200 ZAR	Ex-dividend: 6 200 ZAR per share	Paid	Yahoo Finance (ex-div)
2024-08-21	975 ZAR	Ex-dividend: 975 ZAR per share	Paid	Yahoo Finance (ex-div)
2024-03-26	930 ZAR	Ex-dividend: 930 ZAR per share	Paid	Yahoo Finance (ex-div)
2023-08-23	1 200 ZAR	Ex-dividend: 1 200 ZAR per share	Paid	Yahoo Finance (ex-div)
2023-03-29	3 400 ZAR	Ex-dividend: 3 400 ZAR per share	Paid	Yahoo Finance (ex-div)
2022-08-10	8 100 ZAR	Ex-dividend: 8 100 ZAR per share	Paid	Yahoo Finance (ex-div)
2022-03-09	12 500 ZAR	Ex-dividend: 12 500 ZAR 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 Valterra Platinum — from primary filings.

Valterra Platinum (formerly Anglo American Platinum) is one of the largest global primary producers of platinum group metals, operating the Mogalakwena, Amandelbult and Mototolo mines and smelting/refining complexes in South Africa.

Valterra Platinum ZAR