Fact based stock research
Exxaro (JSE:EXX)

ZAE000084992

How to read the free ranks

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.

Exxaro stock research in summary

exxaro.com

ANALYSIS: With an Obermatt Combined Rank of 91 (better than 91% compared with investment alternatives), Exxaro (Coal & Consumable Fuels, South Africa) shares have much better financial characteristics than comparable stocks. Shares of Exxaro are a good value (attractively priced) with a consolidated Value Rank of 90 (better than 90% of alternatives), are safely financed (Safety Rank of 77, which means low debt burdens), but show below-average growth (Growth Rank of 47). ...read more

RECOMMENDATION: A Combined Rank of 91, is a strong buy recommendation based on Exxaro's financial characteristics. As the company Exxaro's key financial metrics exhibit good value (Obermatt Value Rank of 90) but low growth (Obermatt Growth Rank of 47) while being safely financed (Obermatt Safety Rank of 77), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 90% 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	90
Growth Rank	47
Safety Rank	77
Combined Rank	91

Country	South Africa
Industry	Coal & Consumable Fuels
Index	Low Emissions, Energy Efficient, Water Efficiency, 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: Exxaro

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	81	64	84	90
GROWTH
GROWTH	89	63	59	47
SAFETY
SAFETY	49	70	72	77
SENTIMENT
SENTIMENT	86	62	24	^new
360° VIEW
360° VIEW	95	79	73	^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 Exxaro is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	81	64	84	90
GROWTH
GROWTH	89	63	59	47
SAFETY
SAFETY	49	70	72	77
COMBINED
COMBINED	90	79	86	91

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

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 90 (better than 90% compared with alternatives) for 2025, Exxaro shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Exxaro. Price-to-Profit (also referred to as price to earnings, P/E ratio) is 91 which means that the stock price compared with what market professionals expect for future profits is lower than for 91% of comparable companies, indicating a good value concerning Exxaro's profit levels. The same is valid for the expected Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 89, and for Dividend Yield with a Dividend Yield Rank of 96. But, compared with other companies in the same industry, the stock price is higher than average as regards expected revenues; only 52% of all competitors have an even higher stock price as regards to sales revenues (a Price-to-Sales Rank of 48). Profits, the level of invested capital, and dividend policy suggest that this stock is attractively priced. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 90, is a buy recommendation based on Exxaro's stock price compared with the company's operational size and dividend yields. Since it is on the expensive side for Price-to-Sales, it may mean that Exxaro has pricing power in its distribution market because it can charge higher prices than its competitors. If this is the case, all four value indicators are positive signals for purchasing Exxaro shares. 9. 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)	34	27	39	48
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	93	86	88	91
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	67	57	71	89
DIVIDEND YIELD
DIVIDEND YIELD	92	98	96	96
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	81	64	84	90

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

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 47 (better than 47% compared with alternatives), Exxaro shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for Exxaro. Only Capital Growth has a good rank of 86, which means that currently professionals expect the company to grow its invested capital more than 33% of its competitors. The other three indicators are pointing South: Sales Growth has a rank of 44 which means that currently professionals expect the company to grow less than 56% of its competitors. Profit Growth with a rank of 33 and Stock Returns with a rank of 31 are also low (below 69% of alternative investments). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 47, is a hold recommendation for growth and momentum investors. The good news from the invested capital side is surprising. A company with disappointing revenues, profits, and disappointed shareholders typically doesn't invest above average. Overall, the growth momentum for Exxaro is thus negative. As it is intriguing to see that company executives are optimistic about their investment policy, it is worthwhile looking into the details of the capital investment projects. They may indicate future growth and profits and thus if accompanied by a good value, a sign of good timing to invest in the stock. 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 limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	70	51	46	44
PROFIT GROWTH
PROFIT GROWTH	52	39	27	33
CAPITAL GROWTH
CAPITAL GROWTH	87	63	90	86
STOCK RETURNS
STOCK RETURNS	67	53	55	31
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	89	63	59	47

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

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 77 (better than 77% compared with alternatives) for 2025, the company Exxaro has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Exxaro 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 two out of three are above average for Exxaro.Leverage is at 74, meaning the company has a below-average debt-to-equity ratio. It has less debt than 74% of its competitors.Refinancing is at a rank of 75, meaning that the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 75% of its competitors. Liquidity is at 46, meaning that the company generates less profit to service its debt than 54% of its competitors. This indicates that the company is on the riskier side regarding debt service. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 77 (better than 77% compared with alternatives), Exxaro has a financing structure that is significantly safer than that of its competitors. Low leverage and low refinancing risk mean a safer financing situation. However, low liquidity means that current company cash flows are low in relation to the level of debt. This is a sign of caution in case it is expected for profits to remain low. Investors should compare Obermatt’s Value, Growth, and Sentiment Ranks before deciding. They may also want to investigate why cash flows are expected to be low, making debt service for Exxaro more challenging. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	60	70	76	74
REFINANCING
REFINANCING	39	71	69	75
LIQUIDITY
LIQUIDITY	50	60	55	46
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	49	70	72	77

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Exxaro 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	36	68	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	13	^new
PRO HOLDINGS
PRO HOLDINGS	84	48	58	^new
MARKET PULSE
MARKET PULSE	56	75	17	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	86	62	24	^new

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