Pgm Operations was Sibanye Stillwater’s largest segment in fiscal 2025, bringing in $65.10B of $129.68B (50%).
| Segments [axis] | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Us Pgm Operations | — | — | — | — | ||||
| Pgm Operations | — | — | $48.31B | $65.10B | ||||
| Sa Pgm Operations | — | — | — | — | ||||
| Recycling | — | — | — | — | ||||
| Marikana | $32.75B | $27.28B | $25.31B | $28.34B | ||||
| Total Sa Gold | $17.84B | $29.14B | — | — | ||||
| Sa Gold Operations | — | — | — | — | ||||
| Rustenburg Operation | $29.10B | $22.72B | $17.47B | $29.71B | ||||
| Rustenburg Operations | — | — | — | — | ||||
| Us Pgm, Sa Pgm & Sandouville Nickel Refinery | $18.14B | — | — | — | ||||
| Columbus | — | $13.32B | — | — | ||||
| Us Pgm | — | $10.49B | — | $6.72B | ||||
| Underground | $13.82B | — | — | — | ||||
| Kroondal | $8.37B | $4.56B | — | — | ||||
| Driefontein | — | — | $9.76B | — | ||||
| Drdgold | $5.27B | — | — | — | ||||
| Beatrix | $2.68B | — | $5.31B | — | ||||
| Mimosa | $4.27B | — | — | — | ||||
| Kloof | — | — | $5.97B | — | ||||
| Sandouville Nickel Refinery | $3.14B | $3.02B | — | — | ||||
| Century Zinc Retreatment Operation | — | $2.25B | — | — | ||||
| Cooke | $915.00M | — | — | — | ||||
| Platinum Mile | $1.44B | $1.03B | — | $334.00M | ||||
| Material Reconciling Items | — | -$139.00M | — | -$520.00M | ||||
| Total | $137.75B | $113.68B | $112.13B | $129.68B |
Sibanye Stillwater brought in $129.68B from its six segments in fiscal 2025, the year ended December 31, 2025. Sibanye Stillwater regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $112.13B. Pgm Operations was the largest at $65.10B (50.2%), ahead of Rustenburg Operation at $29.71B (22.9%) and Marikana at $28.34B (21.9%). The other two segments brought in $7.05B combined.
Compared with fiscal 2024, Rustenburg Operation grew fastest, up 70.0% to $29.71B. Every segment above 2% of revenue grew.
Sibanye Stillwater began breaking out Pgm Operations in fiscal 2024, Us Pgm in fiscal 2023 and Material Reconciling Items in fiscal 2023. Sibanye Stillwater stopped reporting Total Sa Gold ($29.14B in fiscal 2023), Us Pgm, Sa Pgm & Sandouville Nickel Refinery ($18.14B in fiscal 2022), Underground ($13.82B in fiscal 2022) and 10 others as separate segments. The total is net of Material Reconciling Items, which took $520.00M off revenue in fiscal 2025.
Gold was Sibanye Stillwater’s largest revenue line in fiscal 2025, bringing in $47.69B of $129.68B (37%).
| Products and services [axis] | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Palladium | $42.28B | $25.27B | $19.92B | $19.11B | ||||
| Gold | $18.81B | $30.26B | $37.14B | $47.69B | ||||
| Rhodium | $47.17B | $21.99B | $14.75B | $17.97B | ||||
| Platinum | $17.83B | $19.78B | $20.57B | $25.83B | ||||
| Zinc | — | $2.13B | $3.77B | $4.33B | ||||
| Chrome | $3.48B | $5.17B | $6.07B | $4.82B | ||||
| Nickel | $4.31B | $4.33B | $3.63B | $1.33B | ||||
| Iridium | $2.48B | $2.88B | $2.82B | $3.78B | ||||
| Ruthenium | $1.32B | $1.17B | $1.48B | $2.25B | ||||
| Silver | $20.00M | $152.00M | $1.01B | $2.15B | ||||
| Other | $600.00M | $560.00M | $976.00M | $413.00M | ||||
| Other Products | — | — | — | — | ||||
| Other Product | — | — | — | — | ||||
| Total | $138.29B | $113.68B | $112.13B | $129.68B |
Sibanye Stillwater brought in $129.68B from its 11 revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 15.6% from $112.13B in fiscal 2024. Gold was the largest at $47.69B (36.8%), ahead of Platinum at $25.83B (19.9%) and Palladium at $19.11B (14.7%). The other eight revenue lines brought in $37.04B combined.
Compared with fiscal 2024, Iridium grew fastest, up 33.9% to $3.78B, while Chrome fell the most, down 20.5% to $4.82B.
Sibanye Stillwater began breaking out Zinc in fiscal 2023, when it brought in $2.13B.
Southern Africa (Sa) was Sibanye Stillwater’s largest region in fiscal 2025, bringing in $97.94B of $129.68B (76%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Southern Africa (Sa) | $89.51B | $84.74B | $82.40B | $97.94B | |||||
| Southern Africa | — | — | — | — | |||||
| South Africa Region | — | — | — | — | |||||
| United States | $45.64B | — | — | — | |||||
| Us Region/ Stillwater | — | $23.81B | $23.09B | $27.11B | |||||
| Australia | — | $2.25B | $3.98B | $4.67B | |||||
| Europe (Eu) | $3.14B | $3.02B | $2.78B | $518.00M | |||||
| Material Reconciling Items | — | -$139.00M | -$127.00M | -$569.00M | |||||
| Total | $138.29B | $113.68B | $112.13B | $129.68B |
Sibanye Stillwater brought in $129.68B from its five regions in fiscal 2025, the year ended December 31, 2025. That was up 15.6% from $112.13B in fiscal 2024. Southern Africa (Sa) was the largest at $97.94B (75.5%), ahead of Us Region/ Stillwater at $27.11B (20.9%) and Australia at $4.67B (3.6%). The remaining region, Europe (Eu), brought in $518.00M.
Compared with fiscal 2024, Southern Africa (Sa) grew fastest, up 18.9% to $97.94B. Every region above 2% of revenue grew.
Sibanye Stillwater began breaking out Us Region/ Stillwater in fiscal 2023, Australia in fiscal 2023 and Material Reconciling Items in fiscal 2023. Sibanye Stillwater stopped reporting United States as a separate region after fiscal 2022, when it brought in $45.64B. The total is net of Material Reconciling Items, which took $569.00M off revenue in fiscal 2025.
Sibanye Stillwater (SBSW) reports its revenue by segments [axis], by products and services [axis] and by geography. In fiscal 2025, Pgm Operations was its largest segment, bringing in $65.10B (50.2% of the total), followed by Rustenburg Operation at $29.71B (22.9%).
Pgm Operations was Sibanye Stillwater's largest segment in fiscal 2025, bringing in $65.10B, or 50.2% of the $129.68B total across its six segments.
Gold was Sibanye Stillwater's largest revenue line in fiscal 2025, bringing in $47.69B, or 36.8% of the $129.68B total across its 11 revenue lines.
Southern Africa (Sa) was Sibanye Stillwater's largest region in fiscal 2025, bringing in $97.94B, or 75.5% of the $129.68B total across its five regions.
Among Sibanye Stillwater's revenue lines that make up at least 2% of revenue, Iridium grew fastest in fiscal 2025, up 33.9% from $2.82B to $3.78B.
Every figure comes from Sibanye Stillwater's annual financial filings, as reported. Each line keeps the name Sibanye Stillwater gives it, and years follow its fiscal calendar.
Sibanye Stillwater's revenue by segments [axis] goes back to fiscal 2017, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.