Sibanye-Stillwater (SBSW)

NYSE: SBSW · Gold and Silver Ores · Weltevreden Park, ZA · filing with the SEC since 2019

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Grade3.9

◀ Past 5.1● Present 3.6▶ Future 2.4

1 est.

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The grade of Sibanye-Stillwater

Nine metrics read from its own filings, by tense

Headline grade

3.9/10

◀ Past5.140% of the headline

● Present3.635% of the headline

▶ Future2.425% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.1/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.0/10

Has it survived what it has been through?

No warning events in its filings since 2019.

weight 45% of this tense · 60th percentile among 73 sector filers · read for itself

From the record

Sibanye-Stillwater's filings since 2019 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.4/10

What has it actually done, year after year?

+13.6% a year over 8 filed years; profitable in 4 of 8.

weight 33% of this tense · 34th percentile among 44 sector filers · read for its customers

From the record

Sibanye-Stillwater's 8 filed years say what it did: revenue went from ZAR 46 billion in fiscal 2017 to ZAR 112 billion in fiscal 2024, up 13.6% a year; it rose in 4 of 7 years; the deepest fall was 35% from fiscal 2021 to fiscal 2024; net income was positive in 4 of 8 of those years (its annual reports).

What it rests on

revenue growth over the filed span13.6%bottom 36% of its family
the share of years revenue rosebottom 31% of its family
the share of filed years with a profitbottom 47% of its family
the deepest fall from a revenue peak34.8%bottom 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

5.7/10

How has it treated the people who own it?

Share count shrank 1.1% a year. 0% of cash flow returned. Insiders: 0 sales, 8 purchases.

weight 22% of this tense · 57th percentile among 38 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2024-12-31, Sibanye-Stillwater's diluted share count shrank about 1.1% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 8 purchases of their own stock on the open market in the year to 2026-09-30, buying about $3 million (their Form 4 filings).

What it rests on

the share count over the yearstop 6% of its family
cash returned against operating cash flowbottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.6/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.0/10

Is it financially healthy right now?

ROE -12%: lost 12¢ per shareholder dollar. Leverage 65%: owes 65¢ per asset dollar.

weight 45% of this tense · 40th percentile among 62 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, Sibanye-Stillwater lost about 12 cents for every dollar of shareholders' money, and gross profitability: its products earned about 5 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count was unchanged over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 18% of its family
return on equitybottom 29% of its family
gross profit against assetsbottom 22% of its family
the share count against the year beforetop 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

2.1/10

How strong is its position in its industry?

bottom 21% of 44 in its family; net margin -5.1%.

weight 33% of this tense · 21st percentile among 44 sector filers · read for its customers

From the record

Sibanye-Stillwater's standing among 44 graded names in its industry family: revenue of ZAR 112 billion in fiscal 2024 is not ranked by size, since the family reports in another currency; a net margin of -5.1% ranks in the bottom 30%; revenue growth of -13.3% a year over the last 3 filed years ranks in the bottom 13% (its annual reports).

What it rests on

net margin-5.1%bottom 30% of its family
three-year revenue growth-13.3%bottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 16 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 16 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 16 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Sibanye-Stillwater's leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 16 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

2.4/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

0.9/10

How much room does it have to grow?

bottom 9% of 42 in its family for room to expand.

weight 22% of this tense · 9th percentile among 42 sector filers · read for itself

From the record

Sibanye-Stillwater's room to grow, from the newest filed statements (fiscal 2024): cash of ZAR 16 billion against debt of ZAR 42 billion leaves -18.6% of its assets as net cash, bottom 2% of its family; cash from operations less capital spending is -10.2% of revenue (bottom 16%); a gross margin of 6.3% (bottom 9%) (its annual report).

What it rests on

cash less debt against assets-18.6%bottom 2% of its family
cash from operations less capital spending against revenue-10.2%bottom 16% of its family
gross margin6.3%bottom 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

2.9/10

What could actually drive growth from here?

bottom 29% of 41 in its family for growth drivers.

weight 33% of this tense · 29th percentile among 41 sector filers · read for its customers

From the record

Sibanye-Stillwater's growth drivers, from the filed years to fiscal 2024: revenue grew -13.3% a year over the last three filed years against 13.6% over all 8, slowing (bottom 11% of its family); the newest year grew -2.2% (bottom 11%); capital spending grew 19.2% a year (top 36%) (its annual reports). Sibanye-Stillwater tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-26.9 points a yearbottom 11% of its family
the newest year's revenue growth-2.2%bottom 11% of its family
three-year growth of capital spending19.2%top 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

2.8/10

Did its newest year beat what its own record pointed to?

bottom 28% of 38 in its family for expectations against reality.

weight 45% of this tense · 28th percentile among 38 sector filers · read for its shareholders

From the record

Sibanye-Stillwater's newest year against its own record: revenue of ZAR 112 billion in fiscal 2024 came in 19.8% above the ZAR 94 billion its prior three years' pace pointed to (top 46% of its family); net income of ZAR 5.7 billion against a prior three-year average of ZAR 5.1 billion (bottom 13%); a net margin of -5.1% against 0.3% before (bottom 17%) (its annual reports).

What it rests on

revenue against the prior three years' pace19.8%top 46% of its family
net income against the prior three years' average-212%bottom 13% of its family
net margin against its prior average-5.3 pointsbottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SBSW · research, not advice