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Gold Fields Ltd (GFI) Fair Value & Analysis

Basic Materials · ZA · Market cap 477B ZAC

GF Gold Fields Ltd GFI · JSE
PriceR758.44
Fair ValueR1,004
Upside+32.4%
Quality75/100

Strengths

Trades 24% below our fair value of R1,004
Highly profitable · 40.8% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Mixed Growth (revenue 5y +19.2 %/yr)
!Weak on dividend: 4 out of 100
Mixed Growth (revenue 5y +19.2 %/yr)
Highly profitable · 40.8% net margin
Low debt · generates free cash flow
Ranks above peers (9/15)
Wide moat 83/100
Evidence: High Range R622.83 – R1,375 Share as image

Fair value as of: Aug 20, 2026

From 26 valuation models · updated 5 days ago

Fair value updated Aug 20, 2026, revised from R61.18 to R1,004 (+1,541.8%) since Aug 13, 2026. Share price +38.2% over the past month.

A strong business, trading 24% below our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (R622.83 to R1,375) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

R915.73 R101.03 Fair Value R1,004 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range R101.03 – R915.73 · fair‑value band R622.83 – R1,375 · the R758.44 price screens below the R1,004 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Gold Fields Ltd (GFI) currently trades at R758.44, while our model-based Fair Value estimate is R1,004, implying the stock looks roughly 32.4% undervalued today. The Quality Score stands at 75/100 (high quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Gold Fields Ltd generated revenue of 8.8B ZAR at a net margin of 40.8%. Revenue grew 71.4% year over year. It earns a return on equity of 51.9%. Net debt stands at 1.8B ZAR. Fundamentals as of Aug 20, 2026

Our scenario range runs from R622.83 (bear case) to R1,375 (bull case); at R758.44, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Basic Materials peers we cover trades at -9% fair-value upside, at 32%, GFI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (R6.28 to R117.86). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF R47.77 R83.07 R144.57 80
Residual Income R40.01 R67.07 R1,344 76
Rev-Margin DCF R21.83 R32.03 R44.84 74
All 26 models by family
DCF Models
FCF DCF R47.50 R83.92 R147.12 38
Owner Earnings R47.23 R83.45 R146.31 31
5Y Revenue Exit R21.83 R31.56 R43.57 39
5Y EBITDA Exit R43.98 R75.60 R114.05 41
5Y P/E Exit R48.42 R84.43 R124.31 38
10Y Revenue Exit R29.60 R41.36 R57.01 36
10Y EBITDA Exit R44.78 R73.70 R115.30 37
10Y P/E Exit R47.74 R80.19 R123.78 35
Earnings-Based
Graham-Dodd R29.09 R117.86 R160.37 54
Lynch FV R29.46 R42.09 R54.72 50
PEG = 1.0 R29.46 R42.09 R54.72 46
EPV R31.16 R36.81 R41.84 59
Dividend Discount
Gordon GGM R8.16 R17.82 R29.99 70
DDM Multi-Stage R8.16 R14.60 R18.57 61
Multiples
P/E Multiple R54.54 R72.72 R90.90 63
P/S Multiple R11.80 R15.74 R19.67 58
P/B Multiple R21.09 R28.12 R35.15 55
EV/EBIT R53.52 R71.66 R89.79 53
EV/EBITDA R46.52 R62.32 R78.12 54
EV/Revenue R10.13 R14.86 R19.58 43
Asset-Based
NCAV (Graham) R4.69 R6.28 R9.37 50
Growth DCF
Growth DCF R47.77 R83.07 R144.57 80
Rev-Margin DCF R21.83 R32.03 R44.84 74
Economic Profit
Residual Income R40.01 R67.07 R1,344 76
ROIC Compounder R34.59 R45.49 R58.88 72
Growth Earnings
Growth-Adj P/E R45.58 R65.12 R84.65 68

Widest divergence: DCF Models (R75.60) versus Asset-Based (R6.28). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 11.6
P/S ratio 61.0 TTM
Net margin 40.8% TTM
Return on equity 51.9% TTM
Return on assets 21.4% TTM
Operating margin 51.8% TTM
More key figures
Profitability
EPS (TTM) R65.33
Growth
Revenue (TTM) 8.8B ZAC TTM
Revenue growth (YoY) +71.4% 3y avg +29.9%
EPS growth (YoY) +196%
Balance sheet & cash flow
Free cash flow 3.3B ZAC FY2025
Net debt 1.8B ZAC FY2025 · ≈ 0.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 74 · Market factors (momentum, volatility) 56

Profitability 80
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 7
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 76
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Gold Fields Limited operates as a gold producer with reserves and resources in South Africa, Ghana, Australia, Peru, Canada, and Chile. It also explores for gold, copper and silver deposits. Gold Fields Limited was founded in 1887 and is based in Sandton, South Africa.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gold Fields Ltd reported revenue of R9.4B in FY2025 versus R4.2B in FY2021, a compound +22.3%/yr. Reported net income was R3.8B in FY2025, compounding +48.4%/yr from FY2021.

Growth Quality 92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
9.4B ZAR
Latest YoY
+80.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+29.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.2%
Avg. revenue growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+39.3% (39.3 + 0.0)
Revenue +22.3%/yr
FY21 R4.2B
FY22 R4.3B
FY23 R4.5B
FY24 R5.2B
FY25 R9.4B
Net income +48.4%/yr
FY21 R789M
FY22 R711M
FY23 R703M
FY24 R1.2B
FY25 R3.8B

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Cite: Fair Value Calculator (2026). "Gold Fields Ltd Fair Value". https://www.fairvalue-calculator.com/stock/GFI

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Gold · 246 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 75 · Top 25%
Fair Value upside +32% · Top 25%
Return on equity (TTM) 52% · Top 25%
Return on assets 21% · Top 25%
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 52% · Top 25%
Revenue growth 71% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.31× · Higher than 75% of peers

Valuation Multiples vs Gold median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than median
P/B 3.55× · Pricier than median
P/S (TTM) 3.40× · Pricier than median
P/FCF 8.9× · Cheaper than median
EV/EBITDA 5.9× · Pricier than median
PEG 11.29× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE77 · sector 0
FUTURE100 · sector 100
PAST100 · sector 1
HEALTH85 · sector 98
DIVIDEND4 · sector 18

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Gold stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Newmont Corporation NEMCL $112.00 $112.82 +1%
Zijin Mining Group 601899 ¥32.21 ¥39.42 +22%
Agnico Eagle Mines Limited AEM C$257.82 C$154.33 -40%
Barrick Mining Corporation B $41.23 $50.66 +23%
Wheaton Precious Metals Corp WPM C$187.84 C$52.47 -72%
Franco-Nevada Corporation FNV C$346.87 C$118.53 -66%
AngloGold Ashanti plc AU $97.92 $88.63 -9%
Zijin Gold International Company 2259 HK$160.30 HK$96.81 -40%
Kinross Gold Corporation KGC $27.48 $34.62 +26%
Northern Star Resources Limited NST A$23.19 A$15.98 -31%

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Frequently asked questions

Is Gold Fields Ltd (GFI) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of R1,004 versus a price of R758.44, about +32% (undervalued).
What is the fair value of GFI?
Our model-based fair value for Gold Fields Ltd is R1,004 (as of Aug 20, 2026), built from audited fundamentals. The current price: R758.44.
What is the quality score of GFI?
Gold Fields Ltd has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Gold Fields Ltd (GFI)?
Gold Fields Ltd reported trailing-twelve-month revenue of about 8.8B ZAR (latest available figure, as of Aug 20, 2026).
What is the net profit margin of GFI?
The net profit margin of Gold Fields Ltd is about 40.8%, meaning it keeps roughly 40.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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