Gold Fields Ltd (GFI) fair value: what the stock is really worth
We calculate from audited financials what Gold Fields Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Basic Materials · ZA · Market cap 477B ZAC · ISIN ZAE000018123
At a glance
GFGold Fields LtdGFI · JSE
PriceR770.80
Fair ValueR973.97
Upside+26.4%
Quality75/100
A strong business, trading 21% below our fair value of R973.97.
As of Sep 6, 2026, the fair value of Gold Fields Ltd is R973.97 per share against a price of R770.80, so the fair value sits 26% above the price. A model estimate from reported figures, not an analyst target.
!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
!Weak on dividend: 3 out of 100
Evidence: HighRange R608.73 to R1,321
Fair value as of: Sep 6, 2026
From 26 valuation models · updated 3 days ago
Fair value updated Sep 6, 2026, revised from R1,004 to R973.97 (−3.0%) since Aug 20, 2026. Share price +16.2% over the past month.
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69 individual criteria per stock, every one traceable See the method →
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 (R608.73 to R1,321) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.
How to read this chart
60‑month range R101.03 – R915.73 · fair‑value band R608.73 – R1,321 · the R770.80 price screens below the R973.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 6, 2026.
Gold Fields Ltd (GFI) currently trades at R770.80, while our model-based Fair Value estimate is R973.97, implying the stock looks roughly 20.9% undervalued today. The Quality Score stands at 75/100 (high quality), in the Basic Materials sector. How firm this estimate is: it rests on 26 models at a data quality of 92/100, which puts the evidence level at high.
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 Sep 6, 2026
Scenario range: R608.73 (bear) to R1,321 (bull), the price of R770.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. For context, the median of 10 Basic Materials peers we cover trades at −12% fair-value upside, at 26%, GFI screens cheaper than that median.
Fair Value models
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
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 R114.35). Read the values as a conservative anchor, not as a price target.
ModelBear ⓘ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
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Key figures & financial health
P/E ratio11.8
P/S ratio4.81P/E × margin
EPS (TTM)R65.33price ÷ EPS = P/E 11.8
Dividend yield0.1%payout 1.7%
Net margin40.8%FY2025
Return on equity51.9%TTM
More key figures
Profitability
Return on assets (EBIT)22.2%avg 5y
Operating margin51.8%TTM
Growth
Revenue (TTM)8.8B ZARTTM
Revenue growth (YoY)+71.4%3y avg +29.9%
EPS growth (YoY)+196%
Balance sheet & cash flow
Free cash flow3.3B ZACFY2025
Net debt1.8B ZACFY2025 · ≈ 0.5 yrs of FCF
Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality75/100
Of which business quality 74
· Market factors (momentum, volatility) 60
Profitability80
Margins and returns on capital today
Quality Growth100
Are margins and returns improving?
Cashflow77
Earnings quality: real cash, not paper profit
Fin. Strength81
Balance sheet, leverage, solvency risk
Investment7
Disciplined investing over empire-building
Low Volatility53
Calm price path (market factor)
Momentum60
Price trend over the last 3–12 months (market factor)
52W Momentum68
Distance to the 52-week high (market factor)
Net Issuance80
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 $9.4B in FY2025 versus $4.2B in FY2021, a compound +22.3%/yr. Reported net income was $3.8B in FY2025, compounding +48.4%/yr from FY2021.
Growth Quality 80/100
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.
≈ +39.4%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+39.3%
Dividend yield0.1%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 39.3% vs 10Y 35.7%, picking up
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.38.8% (2020) → 49.4% (2025) · rising
Worst earnings drop247% (2018) (loss year, drop beyond 100%) · in ZAR
⚠ Final year 2025 sits 436% above trend (one-off), rate approximate
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
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.
Valuation
Quality Score75 · Top 25%
Fair Value upside+31% · Top 25%
Profitability
Return on equity (TTM)52% · Top 25%
Return on assets21% · Top 25%
Net margin (TTM)41% · Top 25%
Operating margin (TTM)52% · Top 25%
Growth and dividend
Revenue growth71% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.31× · Highest 25%
Valuation Multiples vs Gold median · lower = cheaper
P/E (TTM)11.8× · Cheaper than median
P/B3.57× · Pricier than median
P/S (TTM)3.42× · Pricier than median
P/FCF9.0× · Cheaper than median
EV/EBITDA5.9× · Pricier than median
PEG11.29× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Gold Fields Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+46.3 % per year
Achieved revenue growth, 5 years+19.2 % p.a.
Sector median revenue growth+3.4 %
FCF yield on price0.48 %
Discount rate (WACC) in the models11.9 %
The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →
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.
This stockSector peers
VALUE69· sector 0
FUTURE100· sector 100
PAST100· sector 1
HEALTH85· sector 98
DIVIDEND3· sector 21
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 Sep 6, 2026).
Is Gold Fields Ltd (GFI) overvalued or undervalued?
As of Sep 6, 2026, our model estimates a fair value of R973.97 versus a price of R770.80, about +26% upside (undervalued).
What is the fair value of GFI?
Our model-based fair value for Gold Fields Ltd is R973.97 (as of Sep 6, 2026), built from audited fundamentals. The current price: R770.80.
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 price target for Gold Fields Ltd (GFI)?
Our model-based price target is the fair value of R973.97 (as of Sep 6, 2026) from 26 valuation models. Cautious scenario R608.73, optimistic scenario R1,321. It is a calculation from audited fundamentals, not an analyst target.
What is the Gold Fields Ltd stock forecast for 2026?
Our models put fair value at R973.97, about +26% upside versus a price of R770.80 (undervalued). Cautious scenario R608.73, optimistic scenario R1,321. The calculation is refreshed regularly with new filings.
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 Sep 6, 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.
Does Gold Fields Ltd pay a dividend?
Gold Fields Ltd currently shows a dividend yield of about 0.14% relative to its recent price (as of Sep 6, 2026).
What growth is priced into Gold Fields Ltd (GFI)?
For today's price to be fair in a discounted-cash-flow model, Gold Fields Ltd would have to grow free cash flow by +46.3 % per year for ten years (discount rate 11.9 %, then 2 % perpetual growth). Over the last 5 years revenue grew +19.2 % per year. As of Sep 6, 2026.
What discount rate (WACC) does the fair value of GFI use?
Our models discount Gold Fields Ltd at 11.9 %: a base by market capitalisation, damped by beta 0.51, country premium for South Africa. The same rate applies in all 26 models.
What is the intrinsic value of Gold Fields Ltd (GFI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gold Fields Ltd it is R973.97 per share (as of Sep 6, 2026), against a price of R770.80. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Gold Fields Ltd stock overvalued or undervalued in 2026?
As of Sep 6, 2026, GFI trades below its calculated fair value: price R770.80, fair value R973.97, a gap of about +26% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GFI?
No. The price is what the market pays today (R770.80); the fair value is what the company's own numbers justify (R973.97). For Gold Fields Ltd the two are R203.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is Gold Fields Ltd worth?
The market values Gold Fields Ltd at about 477B ZAC (market capitalisation, as of Sep 6, 2026). Per share that is R770.80; our models calculate a fair value of R973.97 per share.
What do the bullish and bearish scenarios say about GFI?
Our models span a range for Gold Fields Ltd: cautious scenario R608.73, base R973.97, optimistic R1,321 per share (as of Sep 6, 2026, price R770.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GFI?
Gold Fields Ltd trades at a price-to-earnings ratio of 11.8 (as of Sep 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of R973.97 is built from several models across several years. Other multiples: PEG 11.3, P/B 3.6, P/S 3.4, EV/EBITDA 5.9.
What is the PEG ratio of GFI?
The PEG ratio of Gold Fields Ltd is 11.29 (P/E divided by earnings growth, as of Sep 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Gold Fields Ltd (GFI)?
Balance-sheet figures for Gold Fields Ltd (as of Sep 6, 2026): return on equity 51.9%, debt of 0.31 per unit of equity. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
Which stocks are comparable to Gold Fields Ltd?
From the same area (Basic Materials) we also value Newmont Corporation, Zijin Mining Group, Agnico Eagle Mines Limited, Barrick Mining Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Gold Fields Ltd stock attractive at the current price?
The data as of Sep 6, 2026: price R770.80, calculated fair value R973.97 (+26%), Quality Score 75/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GFI calculated?
We run Gold Fields Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R973.97, with the spread shown as a cautious and an optimistic scenario.
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