Zijin Mining Group Company Limited

2899.HK · Basic Materials · Gold · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

89.50B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

87.99B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

88.26B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

88.59B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

107.61B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.82×

the ratio the screener ranks by

Margin of Safety

-21.5%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 89.50B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)68.51B USD
−②Net Debt Today8.96B USD
+③Growth Value29.96B USD
=Value89.50B USD

EPV of the Operations (NOPAT over WACC)

68.51B USD

Net debt today

-8.96B USD

Growth Value

+29.96B USD

Value

89.50B USD

①EPV (Earnings Power Value)

68.51B USD

②Net Debt Today

8.96B USD

③Growth Value

29.96B USD

Market value

Market Cap107.61B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-20.2%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 87.99B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE62.51B USD
+②Equity at Year 15, Today25.49B USD
=Value87.99B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

62.51B USD

②Equity at Year 15, Today

25.49B USD

Market value

Market Cap107.61B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-22.3%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 88.26B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF67.94B USD
+②Invested Capital at Year 15, Today29.28B USD
−③Net Debt Today8.96B USD
=Value88.26B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

67.94B USD

②Invested Capital at Year 15, Today

29.28B USD

③Net Debt Today

8.96B USD

Market value

Market Cap107.61B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-21.9%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 8.88%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.00×Market Risk Premium 6.00%= 10.51%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 2.42B USDPretax Income 11.55B USD= 20.97%

The tax the interest saves.

Interest Expense =EBIT 12,085.11M USD−Pretax Income 11,554.05M USD= 531.06M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 531.06M USDTotal Debt 24.41B USD×(1 − Tax Rate for WACC 20.97%)= 1.72%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 24.41B USDMarket Cap + Total Debt 107.61B USD + 24.41B USD= 18.49%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 81.51%×Cost of Equity 10.51%+Debt Weight 18.49%×Cost of Debt 1.72%= 8.88%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 79.77B USD − Total Liabilities 39.53B USD = Book Value Today 40.24B USD

Total Debt 24.41B USD − Cash and Short-Term Investments 15.45B USD = Net Debt Today 8.96B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 11.0%at most 5%passes26,590,714,622 / 26,326,571,240
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets4.2%at least -10.0%passes(10.79B USD − 7.41B USD) ÷ 79.77B USD
Price to bookMarket Cap ÷ Book Value Today2.67×at most 3×passes107.61B USD ÷ 40.24B USD
Operating marginOperating Income ÷ Revenue21.7%above 10.0%passes10.83B USD ÷ 49.95B USD
Revenue growthRevenue ÷ Revenue a Year Before − 119.9%above 10.0%passes49.95B USD / 41.65B USD
Net cash(Cash − Total Debt) ÷ Market Cap-10.2%above -30%passes(13.46B USD − 24.41B USD) ÷ 107.61B USD
Operating efficiencyOperating Income ÷ Gross Profit78.2%above 25.0%passes10.83B USD ÷ 13.85B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

31.73 HKD

Enterprise value

964.73B HKD

the provider's own figure

EV / EBITDA

7.87×

Price / book

3.50×

the provider's book

Price / earnings

11.08×

Return on equity

36.6%

the provider's figure, not this page's

Profit margin

18.0%

Revenue growth

7.8%

Analyst target, mean

51.40 HKD

Analysts

13

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

38.86B41.32B41.65B49.95B

Gross profit

6.12B6.53B8.49B13.85B

Operating income

4.41B4.54B6.39B10.83B

EBITDA

operating income before depreciation and amortisation

6.18B6.46B8.57B14.41B

Pretax income

4.31B4.41B6.59B11.55B

Net income

2.88B2.97B4.40B7.41B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

2.93B3.05B4.37B6.98B

R&D

177.05M220.69M217.03M245.36M
Balance sheet, year end (USD)2022202320242025

Total assets

44.00B48.31B54.40B73.26B

Total liabilities

26.10B28.82B30.02B37.77B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

12.79B15.14B19.17B26.55B

Total debt

17.71B19.84B20.30B23.54B

Cash and equivalents

2.91B2.60B4.35B9.38B

Net PP&E

fixed assets after depreciation

22.05B24.80B26.23B34.22B

Working capital

current assets less current liabilities

1.22B-923.10M-115.94M2.68B
Cash flow (USD)2022202320242025

Operating cash flow

4.12B5.19B6.70B10.79B

Capital expenditure

paid out, so below zero

-3.56B-4.29B-3.40B-4.43B

Depreciation and amortisation

1.41B1.39B1.38B2.32B

Free cash flow

operating cash flow plus capital expenditure

558.38M905.84M3.30B6.36B