Sibanye Stillwater

Key Performance Metrics

  • The review of Net Profit Margin witnessed a mixed trend. The Net Profit Margin improved from 0.59% in 2018 to 13.72% in 2022.
  • The average ROCE Margin for the period under analysis was 15.25% with 2019 and 2020 performing the worst and best, respectively.
  • In the current year, Sibanye Stillwater ICR was 26.59 – compared to 2018 when it was -0.53.
  • The Asset turnover stood at 0.87 times in 2022 from 0.91 in 2018, implying a low performance or Assets of the business in relation to revenue.


  • The revenue of Sibanye Stillwater has fluctuated year on year. The revenue increased by 0% between 2018 and 2019 and a further 74.69% increase was recorded between 2019 and 2020. There also occurred an increase of 19.69% between 2021 and 2022 (the current period). 
  • Sibanye Stillwater performance in profitability looks good as the return on capital employed also recorded good performance during the period of analysis.


  • The company’s result in liquidity looks good, as current ratio/acid test increase from 04:1/0.68:1 to 3.01:1/1.7:1 on the last year. Which implies that the company have enough assets to settle its current liabilities regardless.

Capital Structure

  • Sibanye Stillwater is both equity and debt financed.
  • The debt-to-equity (D/E) ratio has been falling year on year. The gearing position of the company appears to be low as it stood at 0.83 in the current year.

Source: Sibanye Stillwater Annual Report

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