Stock fact sheet · data as of
Sibanye Stillwater Limited (SBSW): fair value, margin of safety and Wheel Score
Ticker symbol SBSW · Basic Materials · Other Precious Metals · South Africa · ADR · Blend Income
SBSW is an American depositary share (ADR): the US listing of Sibanye Stillwater Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is SBSW undervalued?
SBSW has a margin of safety of 46%: the stock closed at 9.38 on 5 Nov 2026 against a GLS average fair value of 17.22. 6 of the 8 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between GLS Growth (3.98) and 10 Cap (48.13). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for SBSW, so the nightly engine files it under Blend (value score 68, growth score 50, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for SBSW
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 10.05 | +7% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 21.28 | +127% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5.28 | -44% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 3.98 | -58% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 48.13 | +413% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 22.47 | +140% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 11.93 | +27% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 14.66 | +56% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -3.86 | -141% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 14.25 | +52% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Sibanye Stillwater Limited scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. On durability SBSW scores 5.5/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are thin or negative - ROIC -6.2%, ROE -13.1%, ROA -3.5% - with debt at 1.11 times equity and a free-cash-flow yield of 11.8%.
The dividend yield is high at 8.64% (payout ratio 2%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Pgm Mining Activities 36%, Gold Mining Activities 25%, Platinum Mining Activities 13% (fiscal year FY2025).
Institutional ownership scores 2/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | -6.2% |
|---|---|---|---|
| GLS Moat | 5.5 / 10 | ROE | -13.1% |
| Debt / equity | 1.11 | ROA | -3.5% |
| Free-cash-flow yield | 11.8% | Payout ratio | 2% |
| Institutions | 2 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 86: Prime
With a Wheel Score of 86, Sibanye Stillwater Limited sits in the Prime band. It passes every Wheel Trade Filter - busy options, a real business, below fair value, healthy accounts, debt it can repay, no serious red flags, a premium worth selling, enough size and price - and ranks near the top on the parts: value strong, premium strong, moat fair, health good, red flags strong, option trading good, stability good. A high score is a ranking, not a signal: it says nothing about timing, the earnings date or your position size.
Implied volatility is 53% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. The option chain is deep: 75,153 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 8.3M shares a day on a market cap of $6.6B, with a beta of 0.92; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 46% below fair value | |
| Premium | Strong | implied volatility 53% | |
| Moat | Fair | moat 5.5/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Good | 2,748 contracts a day, 75,153 open interest | |
| Stability | Good | beta 0.92, $6.6B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for SBSW in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Other Precious Metals
The 12 companies below are the closest to Sibanye Stillwater Limited by market cap within the Other Precious Metals industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| TFPM Triple Flag Precious Metals Corp. | 30.14 | 36.08 | +16% | 70Good | $6.2B |
| BVN Compañía de Minas Buenaventura S.A.A. | 28.80 | 84.55 | +66% | 82Good | $7.3B |
| OICT Oicintra, Inc. | 11.25 | - | - | 16No options | $5.1B |
| HL Hecla Mining Company | 14.95 | 13.14 | -14% | 41Weak | $10.0B |
| PPTA Perpetua Resources Corp. | 16.35 | 8.32 | -97% | 18Weak | $2.0B |
| SIND Sinda Ltd. | 11.97 | 0.0539 | -22101% | 12No options | $1.9B |
| SSMR Sunshine Silver Mining & Refining Company | 12.71 | 0.1873 | -6687% | 21Weak | $1.8B |
| SLSR Solaris Resources Inc | 7.27 | 1.17 | -519% | 18Weak | $1.2B |
| TMC TMC the metals company inc. | 2.31 | 0.2076 | -1013% | 14Weak | $1.0B |
| MUX McEwen Mining Inc. | 14.93 | 38.08 | +61% | 42Weak | $892M |
| ASM Avino Silver & Gold Mines Ltd. | 4.74 | 5.18 | +9% | 28Weak | $805M |
| MTA Metalla Royalty & Streaming Ltd. | 7.88 | 0.8525 | -824% | 26Weak | $737M |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about SBSW
Is SBSW undervalued right now?
By the GLS models, yes: at 9.38 the stock is 46% below the average fair value of 17.22 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of SBSW and what does it mean?
SBSW scores 86 out of 100 (Prime). The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for SBSW?
17.22 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Sibanye Stillwater Limited report earnings next?
No upcoming earnings date is recorded for SBSW in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does SBSW have listed options, and how liquid are they?
Yes. The nightly snapshot found 42 listed contracts with 75,153 open interest across all expiries and implied volatility of 53% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is SBSW an ADR?
Yes. SBSW is an American depositary share (ADR): the US listing of Sibanye Stillwater Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.