Fact based stock research
Thungela Resources (JSE:TGA)

ZAE000296554

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Thungela Resources stock research in summary

thungela.com

ANALYSIS: With an Obermatt Combined Rank of 71 (better than 71% compared with investment alternatives), Thungela Resources (Coal & Consumable Fuels, South Africa) shares have above-average financial characteristics compared with similar stocks. Shares of Thungela Resources are a good value (attractively priced) with a consolidated Value Rank of 94 (better than 94% of alternatives), are safely financed (Safety Rank of 96, which means low debt burdens), but show below-average growth (Growth Rank of 3). ...read more

RECOMMENDATION: A Combined Rank of 71, is a buy recommendation based on Thungela Resources's financial characteristics. As the company Thungela Resources's key financial metrics exhibit good value (Obermatt Value Rank of 94) but low growth (Obermatt Growth Rank of 3) while being safely financed (Obermatt Safety Rank of 96), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 94% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	94
Growth Rank	3
Safety Rank	96
Combined Rank	71

Country	South Africa
Industry	Coal & Consumable Fuels
Index	JSE All Shares
Size class	Medium

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Thungela Resources

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	93	82	91	94
GROWTH
GROWTH	83	13	21	3
SAFETY
SAFETY	63	98	96	96
SENTIMENT
SENTIMENT	72	18	96	^new
360° VIEW
360° VIEW	97	50	96	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Thungela Resources is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	93	82	91	94
GROWTH
GROWTH	83	13	21	3
SAFETY
SAFETY	63	98	96	96
COMBINED
COMBINED	96	75	84	71

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Thungela Resources the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 94 (better than 94% compared with alternatives) for 2025, Thungela Resources shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Thungela Resources. Price-to-Sales is 80 which means that the stock price compared with what market professionals expect for future sales is lower than for 80% of comparable companies, indicating a good value for Thungela Resources's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 79% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 91. Compared with other companies in the same industry, dividend yields of Thungela Resources are expected to be higher than for 89% of all competitors (a Dividend Yield rank of 89). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 94, is a buy recommendation based on Thungela Resources's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Thungela Resources based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	82	67	72	80
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	100	95	81	79
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	66	75	82	91
DIVIDEND YIELD
DIVIDEND YIELD	100	63	87	89
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	93	82	91	94

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Thungela Resources; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 3 (better than 3% compared with alternatives), Thungela Resources shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with all four metrics below average for Thungela Resources. Sales Growth has a rank of 14, which means that currently professionals expect the company to grow less than 86% of its competitors. The same is valid for Profit Growth, with a rank of 7, and Capital Growth with 11. In addition, Stock Returns have a below market rank of 25, which means that the stock returns have recently been below 75% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 3, is a sell recommendation for growth and momentum investors. These are all bad growth momentum indicators. These are negative signals for investors interested in growth companies. Value is likely good for this company, as investors may have left this stock in the cold. If that is the case, investors should look at the company's outlook, especially Sentiment performance, because it may be a turnaround situation that could entail above-average stock returns in the future. But it remains a risky bet, as no growth signals are in the green zone yet. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	47	75	35	14
PROFIT GROWTH
PROFIT GROWTH	19	16	20	7
CAPITAL GROWTH
CAPITAL GROWTH	82	11	17	11
STOCK RETURNS
STOCK RETURNS	100	17	69	25
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	83	13	21	3

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Thungela Resources.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 96 (better than 96% compared with alternatives) for 2025, the company Thungela Resources has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Thungela Resources is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for Thungela Resources. Leverage is at 98, meaning the company has a below-average debt-to-equity ratio. It has less debt than 98% of its competitors. Refinancing is at a rank of 89, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 89% of its competitors. Finally, Liquidity is also good at a rank of 80, which means that the company generates more profit to service its debt than 80% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 96 (better than 96% compared with alternatives), Thungela Resources has a financing structure that is significantly safer than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with Thungela Resources but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	72	94	96	98
REFINANCING
REFINANCING	91	95	83	89
LIQUIDITY
LIQUIDITY	12	92	84	80
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	63	98	96	96

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Thungela Resources and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	16	95	^new
OPINIONS CHANGE
OPINIONS CHANGE	18	50	91	^new
PRO HOLDINGS
PRO HOLDINGS	90	40	67	^new
MARKET PULSE
MARKET PULSE	22	17	59	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	72	18	96	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Thungela Resources.
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