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Northam Platinum Holdings (NPH) Fair Value & Analysis

Basic Materials · ZA · Market cap 98.3B ZAC

NP Northam Platinum Holdings NPH · JSE
PriceR243.22
Fair ValueR64.28
Upside-73.6%
Quality95/100
Evidence: High Range R48.21 – R80.35

Fair value as of: Jun 26, 2026

From 16 valuation models · updated 4 days ago

Fair value updated Jun 26, 2026 — revised from R78.26 to R64.28 (−17.9%) since Jun 24, 2026. Share price −25.2% over the past month.

Price vs Fair Value (12 months)

R466.50 R192.27 Fair Value R64.28 Jun 2025 Jun 2026

12‑month range R192.27 – R466.50 · fair‑value band R48.21 – R80.35 · the R243.22 price screens above the R64.28 fair value. As of Jun 26, 2026.

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Analysis

Northam Platinum Holdings (NPH) currently trades at R243.22, while our model-based Fair Value estimate is R64.28 — implying the stock looks roughly 73.6% overvalued today. We read business quality at 95/100 (high quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Northam Platinum Holdings generated revenue of 41.6B ZAR at a net margin of 22.0%. Revenue grew 60.0% year over year. It earns a return on equity of 26.3%. Net debt stands at 5.5B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 41.6B ZAC
Revenue growth (YoY) +60.0%
Net margin 22.0%
Return on equity 26.3%
Free cash flow −231M ZAC FY2025
P/E ratio 10.9
More key figures
Operating margin 24.9%
EPS (TTM) R22.95
Dividend yield 0.0%
EPS growth (YoY) +3,194%
Net debt 5.5B ZAC FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Northam Platinum Holdings Limited, through its subsidiary, Northam Platinum Limited, engages in the production and sale of platinum group metals. It operates through four segments: Zondereinde mine, Booysendal mine, Eland mine, and the US recycling operations. The company explores for platinum, palladium, rhodium, gold, iridium, ruthenium, silver, nickel, copper, cobalt, and chrome deposits. It holds interests in the Booysendal mine located on the eastern limb of the Bushveld complex; the Zondereinde mine located in the northern end of the western limb of the Bushveld complex; and the Eland mine located in the south-eastern portion of the western limb of the Bushveld complex. The company also offers recycling services. Northam Platinum Holdings Limited was incorporated in 2020 and is based in Johannesburg, South Africa.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Northam Platinum Holdings reported revenue of R32.9B in FY2025 versus R32.6B in FY2021, a compound +0.2%/yr. Reported net income was R1.5B in FY2025, compounding −36.9%/yr from FY2021.

Revenue +0.2%/yr
FY21 R32.6B
FY22 R34.1B
FY23 R39.5B
FY24 R30.8B
FY25 R32.9B
Net income −36.9%/yr
FY21 R9.4B
FY22 R9.8B
FY23 R2.6B
FY24 R1.8B
FY25 R1.5B

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Similar stocks

6 more Other Precious Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

Stock Price Fair Value vs Fair Value
Fresnillo plc FRES 750.00 MXN 32.56 MXN -96%
Valterra Platinum Limited ANGPY $11.60 $8.73 -25%
Hecla Mining Company HCL €15.15 €10.13 -33%
Impala Platinum Holdings IMPUY $12.07 $1.57 -87%
Compañía de Minas Buenaventura S.A. BVN $32.41 $28.79 -11%
Sibanye Stillwater Limited SBYSF $2.54 $6.06 +139%

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Frequently asked questions

Is Northam Platinum Holdings (NPH) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R64.28 versus a price of R243.22 — about −74% (overvalued). Model-based estimate, not financial advice.
What is the fair value of NPH?
Our 21-model fair value for Northam Platinum Holdings is R64.28 (as of Jun 26, 2026), built from audited fundamentals. The current price is R243.22.
What is the quality score of NPH?
Northam Platinum Holdings has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Northam Platinum Holdings (NPH)?
Northam Platinum Holdings reported trailing-twelve-month revenue of about 41.6B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of NPH?
The net profit margin of Northam Platinum Holdings is about 22.0%, meaning it keeps roughly 22.0% of revenue as net income. Based on the latest reported figures.
Does Northam Platinum Holdings pay a dividend?
Northam Platinum Holdings currently shows a dividend yield of about 0.03% relative to its recent price (as of Jun 26, 2026).

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.