Impala Platinum Holdings Past Earnings Performance
Past criteria checks 2/6
Impala Platinum Holdings's earnings have been declining at an average annual rate of -56.8%, while the Metals and Mining industry saw earnings declining at 12% annually. Revenues have been declining at an average rate of 7.5% per year. Impala Platinum Holdings's return on equity is 8.2%, and it has net margins of 7.9%.
Key information
-56.81%
Earnings growth rate
-58.16%
EPS growth rate
| Metals and Mining Industry Growth | 36.20% |
| Revenue growth rate | -7.50% |
| Return on equity | 8.19% |
| Net Margin | 7.90% |
| Next Earnings Update | 03 Sep 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 17
IMP: Stable 6E Volumes And Margins Will Support Future Share Price
Analysts have kept their ZAR price target for Impala Platinum Holdings broadly unchanged at around ZAR522.52, citing only slight adjustments to assumptions for the discount rate, revenue growth, profit margin and forward P/E in their valuation work. What’s in the News for Impala Platinum Holdings Impala Platinum Holdings reported 6E Group production of 762,000 oz for the third quarter ended March 31, 2026, compared with 766,000 oz for the same quarter a year earlier.Narrative Update • Jun 02
IMP: Strong Production Volumes And Firm Margins Will Support Future Share Price
Analysts have slightly revised their valuation model for Impala Platinum Holdings, trimming the ZAR fair value estimate from about ZAR529.29 to ZAR522.52. Updated assumptions on revenue growth, profit margins, the discount rate and the future P/E have resulted in a lower price target.
Narrative Update • May 19
IMP: Future Returns Will Reflect Stable 6E Output And Stronger Earnings Visibility
Analysts have inched their price target for Impala Platinum Holdings slightly lower to ZAR353.56 from ZAR354.90. This reflects updated views on revenue growth, profit margin expectations, the applied discount rate, and the assumed future P/E multiple.Narrative Update • Apr 29
IMP: Strong Earnings Outlook And Higher P/E Multiple Will Support Share Price
Analysts have raised their price target on Impala Platinum Holdings to around ZAR 529 from about ZAR 310, citing updated expectations that reflect higher modelled revenue growth, a revised assumed profit margin profile, and a higher future P/E multiple in their valuation work. What's in the News Management issued earnings guidance for the six months ended 31 December 2025, indicating headline earnings and headline earnings per share are expected to be higher by a little over 4x compared with the prior period.Narrative Update • Apr 14
IMP: Future Returns Will Reflect Stronger Earnings Guidance And Recent Broker Upgrades
Analysts have trimmed their 12 month price target for Impala Platinum Holdings to about ZAR355 from roughly ZAR372, as higher discount rate assumptions offset slightly stronger views on revenue growth, profit margins and the future P/E multiple, with recent research upgrades cited as support for the updated outlook. Analyst Commentary Recent research has shifted more positively, with price target revisions and upgrades reflecting a mix of confidence in the business and caution around execution risks.
Narrative Update • Mar 31
IMP: Recent Upgrades Will Test Execution And Profitability Assumptions Going Forward
Analysts have trimmed their ZAR fair value estimate for Impala Platinum Holdings from ZAR246.17 to ZAR225.00, reflecting updated assumptions on revenue growth, profitability and future P/E following recent upgrades from major firms that have reassessed the stock's long term risk and return profile. Analyst Commentary The recent fair value trim to ZAR225.00 comes as several major houses revisit their assumptions on revenue, margins and the sustainability of current P/E levels for Impala Platinum Holdings.Narrative Update • Mar 17
IMP: Future Returns Will Reflect Upgraded Outlook After Recent Broker Upgrades
Narrative Update: Impala Platinum Holdings Analysts have lifted their ZAR price target on Impala Platinum Holdings to ZAR372.02, citing recent broker upgrades and updated assumptions that include slightly higher revenue growth expectations, a modestly higher discount rate, a small adjustment to profit margin forecasts, and a lower future P/E multiple. Analyst Commentary Recent Street research on Impala Platinum Holdings has focused on the implications of the revised assumptions behind the ZAR372.02 price target, particularly around revenue growth, discount rates, profit margins, and the future P/E multiple.Narrative Update • Mar 03
IMP: Future Returns Will Reflect Upgraded Earnings Outlook And Execution Risks
The analyst price target for Impala Platinum Holdings has increased from ZAR227.02 to ZAR372.02. Analysts cite updated assumptions on revenue growth, profit margins and future P/E, along with recent upgrades from major banks, as the key drivers of this change.Narrative Update • Feb 17
IMP: Broker Upgrades Will Likely Prove Vulnerable To Execution Risks
Analysts have raised their ZAR price target on Impala Platinum Holdings to ZAR246.17, based on research that incorporates slightly firmer revenue growth and profit margin assumptions, a modestly lower future P/E, and a small adjustment to the discount rate. Analyst Commentary Even with a higher ZAR price target, not every analyst is enthusiastic.Analysis Article • Feb 03
This Just In: Analysts Are Boosting Their Impala Platinum Holdings Limited (JSE:IMP) Outlook for This Year
Impala Platinum Holdings Limited ( JSE:IMP ) shareholders will have a reason to smile today, with the analysts making...Narrative Update • Feb 02
IMP: Upbeat Broker Upgrades Will Likely Leave Shares Exposed To Execution Setbacks
Analysts have raised their price target for Impala Platinum Holdings from R180.00 to approximately R246.17. They cite updated assumptions for revenue growth, higher profit margins, and a lower future P/E ratio, supported by recent upgrades from major research houses.Narrative Update • Jan 19
IMP: Higher Production Assumptions Will Likely Leave Shares Vulnerable To Future Compression
Analysts have lifted their price target for Impala Platinum Holdings from R130.00 to R180.00, citing updated assumptions for revenue growth, profit margins and future P/E that they state support a higher fair value under a slightly higher discount rate. What's in the News Reported 6E Group production of 882,000 oz for the first quarter ended 30 September 2025, compared with 928,000 oz for the same quarter a year earlier (Key Developments).Narrative Update • Jan 05
IMP: Higher Margins And Solid 6E Sales Will Support Share Price Rebound
Analysts kept their price target for Impala Platinum Holdings steady at R310.00, citing small adjustments to the discount rate, expected revenue growth, profit margin assumptions, and a slightly lower future P/E as the reasons for maintaining their view. What's in the News Impala Platinum Holdings reported 6E Group production of 882,000 oz for the first quarter ended 30 September 2025, compared with 928,000 oz in the same quarter a year earlier (company announcement).Narrative Update • Dec 18
IMP: Higher Margins Are Expected To Drive Strong Share Price Rebound
Analysts have lifted their price target on Impala Platinum Holdings from R200.00 to R310.00, citing expectations for faster revenue growth, stronger profit margins, and a modestly lower future price-to-earnings multiple that together support a higher fair value estimate despite a slightly increased discount rate. What's in the News Reported first quarter 2025 6E group production of 882,000 oz, down from 928,000 oz in the prior year period, highlighting some operational headwinds (company announcement).Analysis Article • Dec 18
What Impala Platinum Holdings Limited's (JSE:IMP) 28% Share Price Gain Is Not Telling You
The Impala Platinum Holdings Limited ( JSE:IMP ) share price has done very well over the last month, posting an...Narrative Update • Dec 04
IMP: Future Returns Will Reflect Mixed Production Trends And Improving Margins
Analysts have slightly lowered their price target for Impala Platinum Holdings to R227.02 from R227.65, citing a marginally higher discount rate and slightly softer revenue growth expectations, partly offset by an improved profit margin outlook and a near unchanged future P/E assumption. What's in the News Reported first quarter 2025 6E group production of 882,000 oz, down from 928,000 oz in the prior year period, highlighting modest operational pressure (company announcement).Narrative Update • Nov 20
IMP: Rising Profit Margins Will Drive Improved Returns in Coming Year
Analysts have increased their price target for Impala Platinum Holdings from R219.52 to R227.65, citing improved profit margin expectations and stronger projected revenue growth. What's in the News Impala Platinum Holdings announced operating results for Q1 2025, reporting 6E Group production of 882,000 oz, down from 928,000 oz a year ago (Key Developments).Narrative Update • Nov 03
IMP: Rising Earnings Guidance Will Drive Renewed Optimism Despite 79% EPS Decline
Analysts have raised their price target for Impala Platinum Holdings from $210.88 to $219.52, citing moderate improvements in fair value estimates as well as future earnings multiples. What's in the News Impala Platinum Holdings issued new earnings guidance for the year ending 30 June 2025 (Key Developments).Narrative Update • Oct 20
PGM Supply Challenges And Operational Resilience Will Define Future Prospects
Impala Platinum Holdings has seen its analyst price target rise from R196.67 to R210.88. This reflects analysts' optimism driven by modest improvements in forecast revenue growth and market valuation multiples.Analysis Article • Oct 15
Is Impala Platinum Holdings (JSE:IMP) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Narrative Update • Oct 05
PGM Supply Challenges And Operational Resilience Will Define Future Prospects
Analysts have raised their price target for Impala Platinum Holdings from R170.83 to R196.67. They cite improved revenue growth expectations and higher anticipated profit margins as key drivers for the upward revision.Analysis Article • Sep 24
After Leaping 26% Impala Platinum Holdings Limited (JSE:IMP) Shares Are Not Flying Under The Radar
Impala Platinum Holdings Limited ( JSE:IMP ) shares have continued their recent momentum with a 26% gain in the last...Narrative Update • Sep 20
PGM Supply Challenges And Operational Resilience Will Define Future Prospects
The upward revision in the analyst price target for Impala Platinum Holdings reflects an increase in consensus revenue growth forecasts, partially offset by a slight decline in net profit margin, resulting in a modest increase in fair value from ZAR167.50 to ZAR170.83. What's in the News Impala Platinum expects basic earnings per share (EPS) for FY2025 to improve compared to the prior year’s loss, but headline earnings per share (HEPS) are projected to decrease by 63% to 79%, mainly due to lower sales volumes and inflationary pressures.Analysis Article • Sep 04
Impala Platinum Holdings' (JSE:IMP) Solid Earnings May Rest On Weak Foundations
The market for Impala Platinum Holdings Limited's ( JSE:IMP ) stock was strong after it released a healthy earnings...Narrative Update • Aug 29
New Smelter And Refinery Upgrades Will Expand Platinum Production Capacity By 20%
Impala Platinum Holdings’ consensus price target has been revised upward to ZAR167.50, as a higher future P/E multiple offsets a decline in net profit margin. What's in the News The company expects to report improved basic EPS for FY2025 compared to a basic loss per share in FY2024, mainly due to the prior period’s significant impairments.Analysis Article • Jul 20
Revenues Not Telling The Story For Impala Platinum Holdings Limited (JSE:IMP) After Shares Rise 26%
Impala Platinum Holdings Limited ( JSE:IMP ) shares have continued their recent momentum with a 26% gain in the last...
New Narrative • Feb 09
Completion Of Key Projects Will Increase PGM Production Capacity And Reduce Costs
Expansion and optimization initiatives are projected to boost capacity, efficiency, and margins, positively influencing revenue and profitability.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Impala Platinum Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 103,952 | 8,210 | 185 | 0 |
| 30 Sep 25 | 94,706 | 4,486 | 199 | 0 |
| 30 Jun 25 | 85,459 | 761 | 212 | 0 |
| 31 Mar 25 | 85,356 | -8,149 | 224 | 0 |
| 31 Dec 24 | 85,253 | -17,060 | 236 | 0 |
| 30 Sep 24 | 85,826 | -17,186 | 264 | 0 |
| 30 Jun 24 | 86,398 | -17,313 | 291 | 0 |
| 31 Mar 24 | 89,310 | -12,383 | 301 | 0 |
| 31 Dec 23 | 92,222 | -7,454 | 311 | 0 |
| 30 Sep 23 | 99,408 | -1,274 | 309 | 0 |
| 30 Jun 23 | 106,594 | 4,905 | 307 | 0 |
| 31 Mar 23 | 113,552 | 18,545 | 235 | 0 |
| 31 Dec 22 | 120,509 | 32,184 | 162 | 0 |
| 30 Sep 22 | 119,421 | 32,117 | 161 | 0 |
| 30 Jun 22 | 118,332 | 32,049 | 159 | 0 |
| 31 Mar 22 | 122,703 | 33,921 | 242 | 0 |
| 31 Dec 21 | 127,074 | 35,792 | 324 | 0 |
| 30 Sep 21 | 128,325 | 41,412 | 321 | 0 |
| 30 Jun 21 | 129,575 | 47,032 | 318 | 0 |
| 31 Mar 21 | 114,764 | 42,381 | 352 | 0 |
| 31 Dec 20 | 99,953 | 37,730 | 386 | 0 |
| 30 Sep 20 | 84,902 | 26,893 | 345 | 0 |
| 30 Jun 20 | 69,851 | 16,055 | 304 | 0 |
| 31 Mar 20 | 61,489 | 9,312 | 168 | 0 |
| 31 Dec 19 | 53,127 | 2,568 | 31 | 0 |
| 30 Sep 19 | 50,878 | 2,020 | 66 | 0 |
| 30 Jun 19 | 48,629 | 1,471 | 101 | 0 |
| 31 Mar 19 | 45,362 | -3,369 | 139 | 0 |
| 31 Dec 18 | 42,095 | -8,210 | 176 | 0 |
| 30 Sep 18 | 38,975 | -9,444 | 118 | 0 |
| 30 Jun 18 | 35,854 | -10,679 | 59 | 0 |
| 31 Mar 18 | 35,746 | -9,345 | 36 | 0 |
| 31 Dec 17 | 35,637 | -8,012 | 13 | 0 |
| 30 Sep 17 | 36,239 | -8,116 | 13 | 0 |
| 30 Jun 17 | 36,841 | -8,220 | 13 | 0 |
| 31 Mar 17 | 37,225 | -4,405 | 16 | 0 |
| 31 Dec 16 | 37,609 | -590 | 19 | 0 |
| 30 Sep 16 | 36,771 | -330 | 19 | 0 |
| 30 Jun 16 | 35,932 | -70 | 19 | 0 |
| 31 Mar 16 | 34,657 | -1,916 | 29 | 0 |
| 31 Dec 15 | 33,381 | -3,763 | 38 | 0 |
| 30 Sep 15 | 32,929 | -3,713 | 38 | 0 |
| 30 Jun 15 | 32,477 | -3,663 | 38 | 0 |
Quality Earnings: IMP has high quality earnings.
Growing Profit Margin: IMP became profitable in the past.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: IMP's earnings have declined by 56.8% per year over the past 5 years.
Accelerating Growth: IMP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: IMP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Metals and Mining industry (98%).
Return on Equity
High ROE: IMP's Return on Equity (8.2%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/18 16:57 |
| End of Day Share Price | 2026/06/17 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/06/30 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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
Impala Platinum Holdings Limited is covered by 20 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gerhard Engelbrecht | Absa Bank Limited |
| Richard Hart | Arqaam Capital Research Offshore S.A.L. |
| Sebastian Bell | Avior Capital Markets |