AU
AngloGold Ashanti Plc
AU's fundamentals are strong and it looks cheap: trading at 12x earnings, below its usual 18x. Analysts expect earnings to hold roughly steady.
AU Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AU's revenue, profitability, cash flow and balance sheet are all currently healthy.
AU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $87.60 | — |
| Cheap | 11x | $85.42 | -2.5% |
| Current | 12x | $87.60 | — |
| Fair | 18x | $135 | +54% |
| Expensive | 168x | $1,257 | +1335% |
Historical ranges are pointers, not guarantees.
AU's PE is in its cheap range at 12x. On analysts' estimates for next year's earnings, today's price would be 10x.
AU Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect AU's profitability to improve, with its earnings and revenue holding steady.
AU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.42 | +12% |
| Q2 2026 | $7.49 | +99% |
| Q1 2026 | $6.85 | +144% |
| Q4 2025 | $5.19 | +123% |
| Q3 2025 | $4.54 | +598% |
| Q2 2023 | $0.10 | -92% |
| Q4 2022 | $0.71 | -64% |
AU earned $7.49 per share over the past year, up 99% from the year before.
AU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $3.1B | +27% |
| Q1 2026 | $3.2B | +65% |
| Q4 2025 | $3.1B | +75% |
| Q3 2025 | $2.4B | +62% |
| Q2 2025 | $2.4B | +109% |
| Q1 2025 | $2B | +42% |
| Q4 2024 | $1.8B | -27% |
| Q2 2024 | $1.2B | -46% |
AU's revenue has grown year over year for six quarters in a row: $3.1B last quarter, up 27% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 51% | +10 points |
| Q1 2026 | 57% | +19 points |
| Q4 2025 | 49% | +12 points |
| Q3 2025 | 42% | +15 points |
| Q2 2025 | 41% | +27 points |
| Q1 2025 | 38% | +13 points |
| Q4 2024 | 37% | +22 points |
| Q3 2024 | 27% | +23 points |
AU's operating margin was 51% last quarter, up 10 points from the same quarter a year ago, near the top of its range since 2015.
AU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $926.2M | +33% |
| Q1 2026 | $1.3B | +205% |
| Q4 2025 | $916.7M | +157% |
| Q3 2025 | $1.1B | +225% |
| Q2 2025 | $694.5M | +288% |
| Q1 2025 | $422M | +13967% |
| Q4 2024 | $357M | +257% |
| Q2 2024 | $179M | +$339M |
AU generated $4.2B in free cash flow over the past year, up 134% from the year before.
AU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +6.3M shares |
| 1 year | +0.9% | +4.4M shares |
| 3 years | +21% | +90.4M shares |
| 5 years | +23% | +94.1M shares |
| Available history | +25% | +104M shares |
AU has 511M diluted shares, up 0.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
AU hasn't bought back shares in the past year.
AU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.2x | Very low |
| Q4 2024 | 0.3x | Very low |
| Q3 2024 | 0.5x | Very low |
AU has more cash than debt.
AU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.7 | Neutral |
| Stochastic | 22.1 | Neutral |
AU's weekly RSI is 47 (neutral) and its Stochastic is 22 (neutral).
AU PE vs Basic Materials Sector
| Metric | AU | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 19x | 37% below |
| PE % | 18 | 40 | 22 pts below |
AU is trading at 12x earnings, a 37% discount to the Basic Materials sector's median of 19x.
AU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $90.6 | 3.3% below |
| 20 week MA | $93.6 | 6.4% below |
| 50 week MA | $95.2 | 7.9% below |
| 100 week MA | $71.6 | 22% above |
| 200 week MA | $47.1 | 86% above |
AU has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 86% above its 200-week average.
AU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.0 | $22.9 | +4.4% |
| 2021 | $22.9 | $20.1 | -12% |
| 2022 | $20.1 | $19.4 | -3.4% |
| 2023 | $19.4 | $18.7 | -3.8% |
| 2024 | $18.7 | $23.3 | +25% |
| 2025 | $23.3 | $91.3 | +292% |
| 2026 YTD | $91.3 | $87.6 | -4% |
AU has finished lower in three of the last six years. It's down 4% so far in 2026.