HMY vs. SHW: Harmony Gold Mining vs. Sherwin-Williams Stock Comparison

November 11, 2026

How do Harmony Gold Mining (HMY) and Sherwin-Williams (SHW) 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 Sherwin-Williams (SHW) both fall under the Materials industry group, but HMY is classified in Metals & Mining while SHW is classified in Chemicals.

Sherwin-Williams (SHW) 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 Sherwin-Williams (SHW)
Profile Item	HMY	SHW
Name	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)	The Sherwin-Williams Company
Country/Region	South Africa	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Chemicals
GICS Sub-Industry	Gold	Specialty Chemicals
Market Capitalization	10.77 billion USD	83.13 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 1994	March 17, 1980
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

HMY

SHW

GSPC

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Harmony Gold Mining (HMY) and Sherwin-Williams (SHW). 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 Sherwin-Williams (SHW)
Metric	HMY	SHW
Total Return (1Y)	10.98%	5.74%
Total Return (3Y, Annualized)	60.07%	13.18%
Total Return (5Y, Annualized)	39.44%	2.84%

Risk Profile

Drawdown History

HMY

SHW

GSPC

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). 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 Sherwin-Williams (SHW)
Metric	HMY	SHW
Volatility (1Y, Annualized)	63.56%	29.59%
Beta (5Y)	1.08	1.02
Max Drawdown (5Y)	-62.48%	-42.46%
Avg. Volume (3M)	3.68M	1.72M

Risk-Adjusted Performance

Risk-Return Positioning

HMY and SHW 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 Sherwin-Williams (SHW)
Metric	HMY	SHW
Sharpe Ratio (1Y)	0.11	0.05
Sortino Ratio (1Y)	0.15	0.08

Profitability

ROE (TTM)

Both companies show strong equity returns, but Sherwin-Williams (SHW) at 63.70% is the standout with ROE above its industry range; Harmony Gold Mining (HMY) at 48.05% also sits in the top quartile.

HMY

Materials industry group

48.05%

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

SHW

Materials industry group

63.70%

SHW: 63.70%
Max: 52.88%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Harmony Gold Mining (HMY) at 29.57% retains a top-quartile share of revenue as profit, ahead of Sherwin-Williams (SHW) at 10.74%, which keeps about the industry-typical share.

HMY

Materials industry group

29.57%

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

SHW

Materials industry group

10.74%

Max: 38.66%
Q3: 15.98%
SHW: 10.74%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): 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 Sherwin-Williams (SHW) at 17.56%, 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%

SHW

Materials industry group

17.56%

Max: 66.70%
Q3: 28.92%
SHW: 17.56%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Harmony Gold Mining (HMY) and Sherwin-Williams (SHW)
Metric	HMY	SHW
ROE (TTM)	48.05%	63.70%
ROA (TTM)	25.06%	9.48%
Net Margin (TTM)	29.57%	10.74%
Operating Margin (TTM)	47.18%	17.56%
Gross Margin (TTM)	49.62%	48.60%

Growth

Revenue Growth

Only one side can be read here: Sherwin-Williams (SHW) reports revenue growth of 2.06%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Sherwin-Williams (SHW) reports EPS growth of -2.75%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Harmony Gold Mining (HMY) and Sherwin-Williams (SHW)
Metric	HMY	SHW
Revenue Growth (YoY)	--	2.06%
Revenue Growth (3Y CAGR)	26.28%	2.10%
EPS Growth (YoY)	--	-2.75%
EPS Growth (3Y CAGR)	81.32%	9.95%

Financial Strength

Current Ratio (MRQ)

Both Harmony Gold Mining (HMY) at 0.84 and Sherwin-Williams (SHW) at 0.71 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

SHW

Materials industry group

0.71

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
SHW: 0.71
Min: 0.16

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): 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 quartile, while Sherwin-Williams (SHW) at 3.72 is above its industry debt-to-equity ratio range.

HMY

Materials industry group

0.13

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

SHW

Materials industry group

3.72

SHW: 3.72
Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): 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 Sherwin-Williams (SHW)
Metric	HMY	SHW
Current Ratio (MRQ)	0.84	0.71
Debt / Equity (MRQ)	0.13	3.72
Net Debt / EBITDA	0.02	3.04

Dividends

Dividend Yield (TTM)

Sherwin-Williams (SHW) at 0.91% pays an industry-typical yield; Harmony Gold Mining (HMY) at 75.74% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

HMY

Materials industry group

75.74%

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

SHW

Materials industry group

0.91%

Max: 4.52%
Q3: 1.85%
SHW: 0.91%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Harmony Gold Mining (HMY) at 15.28% and Sherwin-Williams (SHW) at 29.35% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

HMY

Materials industry group

15.28%

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

SHW

Materials industry group

29.35%

Max: 83.62%
Q3: 41.37%
SHW: 29.35%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Harmony Gold Mining (HMY) and Sherwin-Williams (SHW)
Metric	HMY	SHW
Dividend Yield (TTM)	75.74%	0.91%
Dividend Payout Ratio (TTM)	15.28%	29.35%

Valuation

P/E Ratio (TTM)

Harmony Gold Mining (HMY) at 6.27 sits in the cheaper P/E ratio quartile, while Sherwin-Williams (SHW) at 31.66 is closer to its industry’s usual earnings multiple — a discount for HMY, though growth and earnings durability still matter.

HMY

Materials industry group

6.27

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

SHW

Materials industry group

31.66

Max: 59.00
Q3: 32.93
SHW: 31.66
Median: 18.82
Q1: 11.96
Min: 3.93

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Harmony Gold Mining (HMY) at 0.11 sits in the cheaper P/S ratio quartile while Sherwin-Williams (SHW) at 3.34 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

SHW

Materials industry group

3.34

Max: 9.62
Q3: 4.34
SHW: 3.34
Median: 1.87
Q1: 0.73
Min: 0.00

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Harmony Gold Mining (HMY) at 2.34 sits near its industry’s typical P/B ratio, while Sherwin-Williams (SHW) at 20.78 prices above its benchmark range — SHW looks rich relative to book.

HMY

Materials industry group

2.34

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

SHW

Materials industry group

20.78

SHW: 20.78
Max: 6.59
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Harmony Gold Mining (HMY) vs. Sherwin-Williams (SHW): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Harmony Gold Mining (HMY) and Sherwin-Williams (SHW)
Metric	HMY	SHW
P/E Ratio (TTM)	6.27	31.66
P/S Ratio (TTM)	0.11	3.34
P/B Ratio (MRQ)	2.34	20.78
Free Cash Flow Yield (TTM)	91.49%	2.98%