Tharisa Plc

Tharisa Plc

115.50
GBX
-5.50
(-4.55%)
33.63BMarket Cap
Nov 30Next Earn
Tharisa Plc
LSE:THS
(London Stock Exchange)

Recent

price

115.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
USD
0.22
0.89
0.97
0.97
0.86
1.36
1.56
1.3
1.52
2.22
2.4
2.17
2.41
2.26
- -
Revenue per Share
-0.11
-0.2
-0.2
0.02
0.05
0.22
0.19
0.04
0.16
0.37
0.54
0.27
0.28
0.27
- -
Basic EPS, GAAP
-0.82
-0.11
-0.01
0.07
0.04
0.19
0.19
0.1
0.01
0.38
0.24
0.26
0.01
-0.09
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.01
0.07
0.03
- -
0.08
0.08
0.07
0.04
0.05
- -
Dividend per Share
0.15
-0.15
0.93
0.85
0.92
1.14
1.25
1.21
1.31
1.64
1.86
2.05
2.45
2.69
2.82
Book Value per Share
0.15
-0.15
0.92
0.84
0.92
1.14
1.24
1.21
1.3
1.63
1.86
2.05
2.42
2.64
2.76
Tangible Book Value per Share
242
242
248
255
256
257
260
263
267
269
286
300
299
296
295
Basic Weighted Avg Shares
54
215
241
247
220
349
406
343
406
596
686
650
721
670
- -
Sales/Revenue/Turnover
-62.2
-0.31
2.43
7.44
14.93
27.58
17.3
6.82
23.83
27.53
28.42
15.27
16.57
18.72
- -
Operating Margin (%)
5
12
11
10
10
17
30
27
28
36
39
39
55
65
- -
Depreciation Expense
-26
-48
-49
5
14
58
48
11
43
100
154
82
83
79
- -
Net Income, GAAP
- -
- -
- -
37.55
28.1
25.63
21.56
24.91
27.46
28.99
24.1
24.11
29.77
31.23
- -
Effective Tax Rate (%)
-48.28
-22.44
-20.35
1.87
6.29
16.48
11.92
3.1
10.66
16.85
22.43
12.65
11.49
11.81
- -
Profit Margin (%)
-164
-267
-1
-10
1
63
92
67
92
169
207
248
184
190
237
Working Capital
121
85
64
36
22
4
27
20
16
21
23
76
50
31
88
LT Debt
33
-54
210
179
202
272
298
289
321
451
620
675
780
848
889
Total Equity
- -
- -
- -
4.13
9.03
25.04
16.27
4.91
16.69
28.61
23.86
9.55
9.83
9.3
- -
Return on Invested Capital (%)
- -
- -
- -
3.84
7.94
18.24
15.46
5.28
9.65
16.46
24.62
11.09
10.76
9.16
- -
Return on Capital (%)
- -
- -
- -
2.04
6.09
21.59
15.58
3.28
12.84
25.25
30.67
14
12.39
10.45
- -
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Mar'25
Sep'25
Mar'26
ST Debt
77
74
42
LT Borrowings
28
30
86
LT Finance Leases
1
2
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
295
294
296
Market Capitalization
236
408
445

Working Capital

USD

•

in mil. unless spec.
Mar'25
Sep'25
Mar'26
Total Current Assets
347
374
420
Cash, Cash Equivalents & STI
188
173
184
Accounts Receivable, Net
67
81
115
Inventories
52
70
65
Total Current Liabilities
209
184
183
Payables & Accruals
- -
- -
- -
ST Debt
77
74
42
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.63%
22.24%
8.76%
Free Cash Flow
411.86%
779.93%
-785.8%
Net Income, GAAP
86.46%
26.98%
-4.54%
Sales/Revenue/Turnover
12.77%
12.11%
-7.09%
Total Cash Common Dividend
- -
613.47%
27.63%

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
721
2025
- -
- -
670
2026
- -
- -
- -

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.28
2025
- -
- -
0.27
2026
- -
- -
- -

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.04
2025
- -
- -
0.05
2026
- -
- -
- -
Business
Tharisa plc is a Cyprus-headquartered integrated resource group focused on mining, processing, beneficiation, marketing, sales and logistics of platinum group metals (PGMs) including platinum, palladium, rhodium, ruthenium, iridium and gold, and chrome concentrates; it also provides trading services and manufactures mining equipment. Founded in 2008 with principal operations at the multi-generational Tharisa Mine in the south-western limb of South Africa's Bushveld Complex, the company generates revenue primarily from chrome (about 60%), PGMs (30%), agency and trading (9%) and manufacturing (1%), with sales distributed across South Africa, China, Singapore, Hong Kong, the United Arab Emirates and other markets. Tharisa maintains operational flexibility through innovation and technology, targeting a 30% carbon emissions reduction by 2030 and net carbon neutrality by 2050, while developing the Karo Platinum Project on Zimbabwe's Great Dyke. Recent developments include a phased transition to underground mining at Tharisa Mine with a US$547 million commitment over ten years to extend life beyond 2034 and first ore expected in Q2 2026; a US$130 million debt facility with Société Générale and Absa in March 2025; pilot mining at Karo in August 2025; acquisition of remaining 26% in Tharisa Minerals in February 2025; cold commissioning of the Vulcan fine chrome recovery plant; a share repurchase programme initiated in 2024 and ongoing into 2025; and extension of bond funding on the Victoria Falls Stock Exchange.

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