HMY vs. IP: Harmony Gold Mining vs. International Paper Stock Comparison

November 11, 2026

How do Harmony Gold Mining (HMY) and International Paper (IP) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Harmony Gold Mining (HMY) and International Paper (IP) both fall under the Materials industry group, but HMY is classified in Metals & Mining while IP is classified in Containers & Packaging.

International Paper (IP) trades as ordinary local shares, while Harmony Gold Mining (HMY) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Harmony Gold Mining (HMY) and International Paper (IP)
Profile Item	HMY	IP
Name	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)	International Paper Co.
Country/Region	South Africa	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Containers & Packaging
GICS Sub-Industry	Gold	Paper & Plastic Packaging Products & Materials
Market Capitalization	10.77 billion USD	18.29 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 1994	January 2, 1962
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

HMY

GSPC

Harmony Gold Mining (HMY) vs. International Paper (IP), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Harmony Gold Mining (HMY) and International Paper (IP). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Harmony Gold Mining (HMY) and International Paper (IP). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Total Return (1Y)	10.98%	-2.70%
Total Return (3Y, Annualized)	60.07%	6.64%
Total Return (5Y, Annualized)	39.44%	-2.14%

Risk Profile

Drawdown History

HMY

GSPC

Harmony Gold Mining (HMY) vs. International Paper (IP), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Harmony Gold Mining (HMY) and International Paper (IP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Volatility (1Y, Annualized)	63.56%	42.71%
Beta (5Y)	1.08	0.96
Max Drawdown (5Y)	-62.48%	-48.61%
Avg. Volume (3M)	3.68M	5.09M

Risk-Adjusted Performance

Risk-Return Positioning

HMY and IP are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Sharpe Ratio (1Y)	0.11	-0.16
Sortino Ratio (1Y)	0.15	-0.24

Profitability

ROE (TTM)

International Paper (IP) reports a negative ROE of -22.30%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Harmony Gold Mining (HMY) reports 48.05%, ranking against industry peers normally.

HMY

Materials industry group

48.05%

Max: 52.88%
HMY: 48.05%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

IP

Materials industry group

-22.30%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
IP: -22.30%
Min: -32.81%

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

International Paper (IP) reports a negative net margin of -14.32%, usually indicating a net loss over the period. Meanwhile Harmony Gold Mining (HMY) reports 29.57%, ranking against industry peers normally.

HMY

Materials industry group

29.57%

Max: 38.66%
HMY: 29.57%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

IP

Materials industry group

-14.32%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
IP: -14.32%
Min: -20.40%

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Harmony Gold Mining (HMY) at 47.18% operates in the top operating margin quartile, ahead of International Paper (IP) at 5.89%, which runs around its industry’s norm.

HMY

Materials industry group

47.18%

Max: 66.70%
HMY: 47.18%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

IP

Materials industry group

5.89%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
IP: 5.89%
Q1: 3.28%
Min: -14.07%

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
ROE (TTM)	48.05%	-22.30%
ROA (TTM)	25.06%	1.60%
Net Margin (TTM)	29.57%	-14.32%
Operating Margin (TTM)	47.18%	5.89%
Gross Margin (TTM)	49.62%	29.78%

Growth

Revenue Growth

Only one side can be read here: International Paper (IP) reports revenue growth of 49.25%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: International Paper (IP) reports EPS growth of -542.68%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Revenue Growth (YoY)	--	49.25%
Revenue Growth (3Y CAGR)	26.28%	3.75%
EPS Growth (YoY)	--	-542.68%
EPS Growth (3Y CAGR)	81.32%	--

Financial Strength

Current Ratio (MRQ)

Both Harmony Gold Mining (HMY) at 0.84 and International Paper (IP) at 0.99 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

HMY

Materials industry group

0.84

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
HMY: 0.84
Min: 0.16

IP

Materials industry group

0.99

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
IP: 0.99
Min: 0.16

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Harmony Gold Mining (HMY) at 0.13 keeps leverage in the lower industry quartile, while International Paper (IP) at 0.79 runs a more typical debt-to-equity mix.

HMY

Materials industry group

0.13

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
HMY: 0.13
Min: 0.00

IP

Materials industry group

0.79

Max: 1.98
Q3: 0.89
IP: 0.79
Median: 0.47
Q1: 0.13
Min: 0.00

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Current Ratio (MRQ)	0.84	0.99
Debt / Equity (MRQ)	0.13	0.79
Net Debt / EBITDA	0.02	2.40

Dividends

Dividend Yield (TTM)

Both Harmony Gold Mining (HMY) at 75.74% and International Paper (IP) at 5.40% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

HMY

Materials industry group

75.74%

HMY: 75.74%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

IP

Materials industry group

5.40%

IP: 5.40%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

International Paper (IP) reports payout ratio above 100% at 402.17%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Harmony Gold Mining (HMY) reports 15.28%, ranking against industry peers normally.

HMY

Materials industry group

15.28%

Max: 83.62%
Q3: 41.37%
HMY: 15.28%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

IP

Materials industry group

402.17%

IP: 402.17%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
Dividend Yield (TTM)	75.74%	5.40%
Dividend Payout Ratio (TTM)	15.28%	402.17%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Harmony Gold Mining (HMY) trades at 6.27 times trailing earnings, ranked against its peers, while International Paper (IP) has no P/E ratio this period.

HMY

Materials industry group

6.27

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
HMY: 6.27
Min: 3.93

IP

Materials industry group

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93
IP: --

Harmony Gold Mining (HMY) vs. International Paper (IP): IP does not report P/E ratio, so it has no value marker; HMY is benchmarked against the Materials industry group.

P/S Ratio (TTM)

Harmony Gold Mining (HMY) at 0.11 sits in the cheaper P/S ratio quartile while International Paper (IP) at 0.76 prices around its industry’s middle — HMY costs less per dollar of sales, though read it alongside growth and margins.

HMY

Materials industry group

0.11

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
HMY: 0.11
Min: 0.00

IP

Materials industry group

0.76

Max: 9.62
Q3: 4.34
Median: 1.87
IP: 0.76
Q1: 0.73
Min: 0.00

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Harmony Gold Mining (HMY) at 2.34 and International Paper (IP) at 1.39 are valued close to their industries’ norm against book — neither stands out from peers.

HMY

Materials industry group

2.34

Max: 6.59
Q3: 3.55
HMY: 2.34
Median: 2.08
Q1: 1.26
Min: -0.17

IP

Materials industry group

1.39

Max: 6.59
Q3: 3.55
Median: 2.08
IP: 1.39
Q1: 1.26
Min: -0.17

Harmony Gold Mining (HMY) vs. International Paper (IP): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Harmony Gold Mining (HMY) and International Paper (IP)
Metric	HMY	IP
P/E Ratio (TTM)	6.27	--
P/S Ratio (TTM)	0.11	0.76
P/B Ratio (MRQ)	2.34	1.39
Free Cash Flow Yield (TTM)	91.49%	12.53%