West African Resources Limited

ASX:WAF Stock Report

Market Cap: AU$2.6b

West African Resources Past Earnings Performance

Past criteria checks 4/6

West African Resources has been growing earnings at an average annual rate of 24%, while the Metals and Mining industry saw earnings growing at 20.1% annually. Revenues have been growing at an average rate of 25% per year. West African Resources's return on equity is 18.7%, and it has net margins of 30.7%.

Key information

24.0%

Earnings growth rate

20.5%

EPS growth rate

Metals and Mining Industry Growth22.3%
Revenue growth rate25.0%
Return on equity18.7%
Net Margin30.7%
Last Earnings Update31 Dec 2024

Recent past performance updates

Recent updates

West African Resources (ASX:WAF) Seems To Use Debt Quite Sensibly

Mar 06
West African Resources (ASX:WAF) Seems To Use Debt Quite Sensibly

Investors Still Aren't Entirely Convinced By West African Resources Limited's (ASX:WAF) Earnings Despite 26% Price Jump

Mar 06
Investors Still Aren't Entirely Convinced By West African Resources Limited's (ASX:WAF) Earnings Despite 26% Price Jump
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Kiaka Project Will Begin Gold Production In Q3 2025

Jan 27 Completion and production ramp-up of the Kiaka project are set to significantly boost revenue and increase gold production efficiency.

The Market Lifts West African Resources Limited (ASX:WAF) Shares 28% But It Can Do More

Nov 06
The Market Lifts West African Resources Limited (ASX:WAF) Shares 28% But It Can Do More

Market Cool On West African Resources Limited's (ASX:WAF) Earnings

Sep 18
Market Cool On West African Resources Limited's (ASX:WAF) Earnings

A Look At The Fair Value Of West African Resources Limited (ASX:WAF)

Jun 28
A Look At The Fair Value Of West African Resources Limited (ASX:WAF)

Is West African Resources (ASX:WAF) A Risky Investment?

May 03
Is West African Resources (ASX:WAF) A Risky Investment?

West African Resources Limited's (ASX:WAF) Shares Leap 35% Yet They're Still Not Telling The Full Story

Apr 10
West African Resources Limited's (ASX:WAF) Shares Leap 35% Yet They're Still Not Telling The Full Story

Sentiment Still Eluding West African Resources Limited (ASX:WAF)

Feb 05
Sentiment Still Eluding West African Resources Limited (ASX:WAF)

West African Resources Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Aug 30
West African Resources Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Here's Why West African Resources (ASX:WAF) Can Manage Its Debt Responsibly

Apr 14
Here's Why West African Resources (ASX:WAF) Can Manage Its Debt Responsibly

With EPS Growth And More, West African Resources (ASX:WAF) Makes An Interesting Case

Jan 13
With EPS Growth And More, West African Resources (ASX:WAF) Makes An Interesting Case

We Think West African Resources (ASX:WAF) Can Stay On Top Of Its Debt

Dec 08
We Think West African Resources (ASX:WAF) Can Stay On Top Of Its Debt

Do West African Resources' (ASX:WAF) Earnings Warrant Your Attention?

Aug 29
Do West African Resources' (ASX:WAF) Earnings Warrant Your Attention?

There's No Escaping West African Resources Limited's (ASX:WAF) Muted Earnings

Jul 29
There's No Escaping West African Resources Limited's (ASX:WAF) Muted Earnings

Should You Be Adding West African Resources (ASX:WAF) To Your Watchlist Today?

May 25
Should You Be Adding West African Resources (ASX:WAF) To Your Watchlist Today?

Is Now The Time To Put West African Resources (ASX:WAF) On Your Watchlist?

Feb 23
Is Now The Time To Put West African Resources (ASX:WAF) On Your Watchlist?

Is West African Resources (ASX:WAF) Using Too Much Debt?

Dec 16
Is West African Resources (ASX:WAF) Using Too Much Debt?

A Look At The Intrinsic Value Of West African Resources Limited (ASX:WAF)

Oct 31
A Look At The Intrinsic Value Of West African Resources Limited (ASX:WAF)

Should You Be Adding West African Resources (ASX:WAF) To Your Watchlist Today?

Sep 21
Should You Be Adding West African Resources (ASX:WAF) To Your Watchlist Today?

Revenue & Expenses Breakdown

How West African Resources makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

ASX:WAF Revenue, expenses and earnings (AUD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Dec 24730224170
30 Sep 24713189170
30 Jun 24696155170
31 Mar 24679151170
31 Dec 23661147160
30 Sep 23628145150
30 Jun 23596144140
31 Mar 23602154140
31 Dec 22608164150
30 Sep 22688191151
30 Jun 22768219151
31 Mar 22740204131
31 Dec 21712189111
30 Sep 21616170101
30 Jun 21519152100
31 Mar 21415121100
31 Dec 2031189100
30 Sep 201854690
30 Jun 2059280
31 Mar 2030-180
31 Dec 191-470
31 Dec 181-770
30 Sep 181-22230
30 Jun 180-25260
31 Mar 180-23230
31 Dec 170-22200
30 Sep 170-16160
30 Jun 170-14140
31 Mar 170-13130
31 Dec 160-10100
30 Sep 160-990
30 Jun 160-870
31 Mar 160-760
31 Dec 150-760
30 Sep 150-880
30 Jun 150-880
31 Mar 150-880
31 Dec 140-15160
30 Sep 140-14130
30 Jun 140-14140

Quality Earnings: WAF has a high level of non-cash earnings.

Growing Profit Margin: WAF's current net profit margins (30.7%) are higher than last year (22.2%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: WAF has become profitable over the past 5 years, growing earnings by 24% per year.

Accelerating Growth: WAF's earnings growth over the past year (52.4%) exceeds its 5-year average (24% per year).

Earnings vs Industry: WAF earnings growth over the past year (52.4%) exceeded the Metals and Mining industry 0.7%.

Return on Equity

High ROE: WAF's Return on Equity (18.7%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/01 14:52
End of Day Share Price 2025/04/01 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

West African Resources Limited is covered by 15 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Dale KoendersBarrenjoey Markets Pty Limited
Nicholas McGarrigleBarrenjoey Markets Pty Limited
Taylor GuyotBarrenjoey Markets Pty Limited