Newmont Corporation

NEM · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$108,963	$42,373	$47,702	$37,464	$49,457	$47,758	$34,649	$18,457	$20,011	$18,083	$9,519	$9,413	$11,469	$23,034	$29,645	$30,224	$23,040	$18,478	$22,071	$20,318	$23,816	$19,674	$19,947	$10,644	$3,694	$3,412	$4,032	$2,907	$4,567	$5,406	$4,123	$2,714	$3,947	$2,830	$2,748	$2,770	$3,203	$2,231	$2,265	$1,249	$916
Enterprise value	$106,609	$47,886	$54,291	$40,018	$50,476	$49,467	$40,028	$20,236	$21,739	$21,008	$16,082	$16,570	$19,735	$30,860	$34,979	$32,867	$26,488	$22,943	$25,167	$22,054	$24,766	$20,325	$19,913	$12,400	$5,147	$4,742	$5,141	$4,169	$5,838	$6,432	$4,784	$3,242	$4,176	$2,896	$3,037	$3,123	$4,395	$3,398	$3,906	$1,298	$1,181
P/E (TTM) at period end	15.38×	12.66×	–	–	42.42×	16.88×	12.35×	54.13×	–	–	46.21×	18.53×	–	12.78×	89.29×	13.27×	17.76×	22.24×	–	25.69×	66.16×	40.15×	41.99×	67.34×	–	–	162.59×	–	66.77×	63.52×	36.61×	35.66×	29.63×	35.82×	29.14×	8.09×	25.44×	12.75×	6.71×	18.42×	57.23×
P/S (TTM) at period end	4.81×	2.27×	4.04×	3.14×	4.05×	4.15×	3.56×	2.54×	2.71×	2.69×	1.56×	1.38×	1.36×	2.31×	2.84×	3.17×	3.07×	2.96×	3.97×	4.07×	5.47×	4.46×	6.21×	3.88×	2.23×	2.18×	2.88×	2.00×	2.90×	7.03×	6.48×	4.54×	6.22×	4.62×	4.41×	4.05×	5.50×	4.46×	4.41×	3.28×	1.33×
P/B at period end	3.22×	1.42×	1.64×	1.94×	2.25×	2.08×	1.62×	1.76×	1.90×	1.70×	0.84×	0.92×	1.15×	1.68×	2.30×	2.26×	2.15×	2.53×	2.92×	2.18×	2.84×	2.48×	2.70×	1.96×	2.49×	2.33×	2.78×	2.02×	2.87×	5.27×	5.55×	4.03×	6.27×	5.35×	13.65×	25.28×	–	–	–	0.86×	0.65×
EV / EBITDA (TTM)	7.87×	5.75×	19.68×	10.51×	11.91×	9.40×	11.49×	8.44×	8.70×	9.79×	9.92×	8.26×	9.40×	7.64×	6.90×	6.75×	7.13×	10.29×	12.12×	11.22×	15.55×	10.96×	16.16×	14.64×	14.10×	8.53×	10.01×	–	8.80×	37.46×	47.41×	27.64×	21.74×	14.30×	12.82×	12.80×	23.07×	–	–	–	–
EV / Sales (TTM)	4.70×	2.56×	4.60×	3.36×	4.13×	4.30×	4.11×	2.79×	2.95×	3.13×	2.64×	2.43×	2.35×	3.10×	3.35×	3.45×	3.52×	3.67×	4.53×	4.42×	5.69×	4.61×	6.20×	4.52×	3.11×	3.03×	3.67×	2.87×	3.71×	8.37×	7.52×	5.43×	6.58×	4.72×	4.88×	4.57×	7.55×	6.79×	7.60×	3.41×	1.72×
Returns
Return on equity	20.9%	11.2%	(8.6%)	(2.2%)	5.3%	12.3%	13.1%	3.2%	(1.1%)	(5.9%)	1.8%	4.9%	(25.4%)	13.2%	2.6%	17.1%	12.1%	11.4%	(25.1%)	8.5%	4.3%	6.2%	6.4%	2.9%	(1.6%)	(1.3%)	1.7%	(27.3%)	4.3%	8.3%	15.2%	11.3%	21.1%	14.9%	46.8%	312.6%	–	–	–	4.7%	1.1%
Return on invested capital	20.4%	11.3%	1.8%	7.1%	0.1%	9.2%	4.4%	4.6%	–	6.8%	–	3.3%	3.2%	10.0%	13.0%	19.2%	14.7%	11.3%	12.7%	8.8%	6.7%	8.9%	7.3%	3.7%	0.2%	–	5.4%	(10.0%)	12.0%	2.3%	(0.4%)	2.2%	8.0%	16.9%	22.5%	24.1%	10.2%	10.2%	11.4%	3.1%	–
Dividend yield	1.0%	2.7%	3.0%	4.7%	3.6%	1.7%	2.6%	1.6%	0.7%	0.4%	0.5%	1.2%	5.3%	3.0%	1.7%	0.8%	0.9%	1.0%	0.8%	0.9%	0.8%	0.7%	0.4%	0.6%	0.8%	0.6%	0.5%	0.7%	1.2%	0.9%	1.3%	2.1%	1.5%	1.4%	1.5%	1.5%	1.3%	–	–	–	–
Financial health
Current ratio	2.29×	1.63×	1.25×	2.23×	2.90×	2.52×	2.63×	2.95×	3.62×	2.68×	3.52×	2.47×	1.78×	1.89×	1.37×	2.64×	2.51×	1.46×	1.78×	1.52×	2.25×	2.47×	2.83×	1.61×	1.46×	1.76×	1.95×	2.42×	1.63×	2.03×	1.49×	2.42×	2.08×	1.68×	0.80×	1.03×	0.58×	0.32×	0.93×	2.01×	1.49×
Debt / equity	0.15×	0.28×	0.31×	0.29×	0.26×	0.26×	0.29×	0.39×	0.38×	0.43×	0.52×	0.65×	0.67×	0.46×	0.33×	0.33×	0.45×	0.44×	0.39×	0.20×	0.23×	0.20×	0.15×	0.34×	0.87×	0.69×	0.71×	0.87×	0.78×	0.63×	0.86×	0.90×	0.33×	0.52×	1.17×	3.85×	(5.76×)	(4.11×)	(4.21×)	0.15×	0.24×
Effective tax rate	40.5%	30.5%	(25.9%)	(892.2%)	99.1%	22.4%	22.5%	52.3%	105.1%	(263.2%)	143.0%	24.8%	20.9%	28.1%	41.3%	21.4%	28.1%	11.0%	(48.8%)	26.1%	29.5%	29.3%	22.4%	11.7%	69.7%	1468.8%	36.7%	33.4%	(13.1%)	(29.5%)	13.1%	(62.6%)	16.4%	3.0%	22.8%	29.9%	16.8%	33.4%	24.8%	40.2%	138.6%
Share count
Diluted shares outstanding	1,108	1,148	841	795	801	806	737	535	535	532	516	499	498	499	504	500	487	455	452	452	449	447	414	376	193	190	165	159	155	121	86	75	85	86	85	85	84	84	80	76	73

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	–	$22,669	$18,682	$11,812	$11,915	$12,222	$11,497	$9,740	$7,253	$7,379	$6,711	$6,085	$6,819	$8,414	$9,964	$10,441	$9,540	$7,517	$6,246	$5,561	$4,987	$4,352	$4,411	$3,214	$2,745	$1,656	$1,567	$1,399	$1,454	$1,573	$768	$636	$597	$634	$613	$623	$684	$582	$500	$514	$381	$686
Cost of revenue	–	($8,085)	($8,963)	($6,699)	($6,468)	($5,435)	($5,014)	($5,195)	($4,093)	($4,062)	($3,738)	($3,578)	($3,919)	($5,299)	($4,334)	($3,890)	($3,484)	($4,071)	($4,228)	($3,921)	($3,399)	($3,075)	($2,984)	($1,816)	($1,661)	($1,148)	($909)	($775)	($852)	($745)	($476)	($371)	($326)	($339)	($323)	($302)	($357)	($323)	($280)	($233)	($205)	($633)
Gross profit	–	$14,584	$9,719	$5,113	$5,447	$6,787	$6,483	$4,545	$3,160	$3,317	$2,973	$2,507	$2,900	$3,115	$5,630	$6,468	$6,056	$3,446	$2,018	$1,640	$1,588	$1,277	$1,427	$1,398	$1,084	$508	$658	$624	$602	$828	$292	$266	$271	$295	$290	$321	$326	$260	$220	$281	$176	$53
Operating expenses
Research and development	($193)	($166)	($197)	($200)	($229)	($154)	($122)	($150)	($153)	($143)	($134)	($126)	($159)	($222)	($348)	($373)	($216)	($135)	($166)	($62)	($94)	($73)	($192)	($115)	–	–	–	–	–	($98)	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($326)	($382)	($442)	($299)	($276)	($259)	($269)	($313)	($244)	($237)	($233)	($241)	($237)	($203)	($212)	($198)	($178)	($159)	($144)	($142)	($149)	($134)	($116)	($130)	($145)	($73)	($119)	($110)	($665)	($66)	($121)	($165)	($154)	($103)	($87)	($84)	($82)	($69)	($45)	($32)	($28)	($26)
Total operating expenses	–	($3,561)	($3,971)	($4,463)	($3,826)	($4,871)	($3,519)	($3,021)	($1,978)	($2,079)	($2,041)	($2,007)	($2,122)	($2,377)	($2,622)	($2,432)	($2,134)	($539)	($527)	($249)	($258)	($319)	($229)	($694)	($780)	($492)	($517)	($407)	($1,006)	($486)	($246)	($272)	($245)	($213)	($186)	($178)	($167)	($138)	($86)	($102)	($99)	($102)
Total costs and expenses	–	($11,646)	($12,934)	($11,162)	($10,294)	($10,306)	($8,533)	($8,216)	($6,071)	($6,141)	($5,779)	($5,585)	($6,041)	($7,676)	($6,956)	($6,405)	($5,618)	($4,610)	($4,755)	($4,170)	($3,657)	($3,394)	($3,213)	($2,510)	($2,441)	($1,640)	($1,426)	($1,182)	($1,858)	($1,231)	($722)	($642)	($571)	($552)	($510)	($480)	($524)	($461)	($365)	($335)	($304)	($734)
Operating income	–	$11,023	$5,748	$650	$1,621	$1,916	$2,964	$1,524	$1,182	$1,238	$932	$500	$778	$738	$3,008	$4,036	$3,922	$2,907	$1,491	$1,391	$1,330	$958	$1,198	$704	$304	$16	$141	$217	($404)	$342	$47	($6)	$26	$82	$104	$143	$159	$121	$135	$179	$77	($48)
Earnings
EBITDA	–	$13,544	$8,324	$2,758	$3,806	$4,239	$5,264	$3,484	$2,397	$2,499	$2,145	$1,621	$2,007	$2,100	$4,040	$5,072	$4,867	$3,713	$2,229	$2,076	$1,966	$1,593	$1,854	$1,232	$847	$365	$556	$514	($62)	$663	$172	$101	$117	$192	$202	$237	$244	$190	–	–	–	–
Interest income	–	$214	$152	$148	$78	$18	$24	$57	$56	$28	$11	$6	$4	$13	$12	$11	$11	$16	$29	$97	$67	$59	$23	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($76)	($229)	($385)	($248)	($227)	($274)	($308)	($301)	($207)	($241)	($273)	($297)	($330)	($303)	($249)	($244)	($279)	($120)	($135)	($118)	($97)	($97)	($98)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$14,038	$11,342	$4,577	($2,031)	($51)	$1,108	$3,143	$3,693	$738	$1,072	($220)	$270	$821	($3,606)	$3,114	$1,810	$3,997	$2,954	$1,294	($389)	$1,627	$1,050	$1,111	$925	$170	($76)	$1	$39	($541)	$60	$66	$130	$47	$113	$93	$122	$240	$156	$138	$449	$115	($39)
Income tax expense	($3,587)	($4,596)	($1,397)	($526)	($455)	($1,098)	($704)	($832)	($386)	($1,127)	($579)	($386)	($204)	$755	($876)	($747)	($856)	($829)	($142)	($190)	($424)	($310)	($325)	($207)	($20)	$53	($11)	($14)	$181	$8	$19	($17)	$29	($19)	($3)	($28)	($72)	($26)	($46)	($112)	($46)	$54
Net income	$9,240	$7,085	$3,348	($2,494)	($429)	$1,166	$2,829	$2,805	$341	($114)	($629)	$206	$508	($2,534)	$1,802	$332	$2,277	$1,297	$831	($1,895)	$791	$360	$490	$475	$158	($23)	($19)	$25	($393)	$68	$85	$113	$76	$133	$79	$94	$343	$126	$175	$338	$68	$16
Per share
Diluted EPS (GAAP)	$8.62	$6.39	$2.92	($2.97)	($0.54)	$1.46	$3.51	$3.81	$0.64	($0.21)	($1.18)	$0.40	$1.02	($5.09)	$3.61	$0.66	$4.55	$2.66	$1.83	($4.17)	$1.75	$0.80	$1.10	$1.15	$0.41	($0.12)	($0.0996)	($0.62)	($2.47)	$0.44	$0.63	$0.95	$0.80	$2.02	$0.90	$1.11	$4.05	$1.50	$3.05	$4.21	$0.36	$0.22
Basic EPS (GAAP)	$8.64	$6.41	$2.92	($2.97)	($0.54)	$1.46	$3.52	$3.82	$0.64	($0.21)	($1.19)	$0.40	$1.02	($5.09)	$3.64	$0.67	$4.63	$2.66	$1.83	($4.17)	$1.76	$0.81	$1.11	$1.16	$0.42	($0.12)	($0.0996)	($0.62)	($2.47)	$0.44	$0.63	$0.95	$0.80	$2.02	$0.90	$1.11	$4.05	$1.50	$3.05	$4.21	$0.36	$0.22
Basic shares outstanding	1,076	1,106	1,146	841	794	799	804	735	533	533	530	516	499	498	496	494	492	487	454	452	450	446	443	410	367	193	190	165	159	155	121	86	75	85	86	85	85	84	84	80	76	73
Margins
Gross margin	–	64.3%	52.0%	43.3%	45.7%	55.5%	56.4%	46.7%	43.6%	45.0%	44.3%	41.2%	42.5%	37.0%	56.5%	61.9%	63.5%	45.8%	32.3%	29.5%	31.8%	29.3%	32.4%	43.5%	39.5%	30.7%	42.0%	44.6%	41.4%	52.6%	38.0%	41.7%	45.4%	46.5%	47.3%	51.5%	47.8%	44.6%	44.0%	54.7%	46.2%	7.8%
Operating margin	–	48.6%	30.8%	5.5%	13.6%	15.7%	25.8%	15.6%	16.3%	16.8%	13.9%	8.2%	11.4%	8.8%	30.2%	38.7%	41.1%	38.7%	23.9%	25.0%	26.7%	22.0%	27.2%	21.9%	11.1%	1.0%	9.0%	15.5%	(27.8%)	21.8%	6.1%	(0.9%)	4.4%	12.9%	16.9%	22.9%	23.3%	20.8%	26.9%	34.9%	20.1%	(7.1%)
Net margin	–	31.3%	17.9%	(21.1%)	(3.6%)	9.5%	24.6%	28.8%	4.7%	(1.5%)	(9.4%)	3.4%	7.4%	(30.1%)	18.1%	3.2%	23.9%	17.3%	13.3%	(34.1%)	15.9%	8.3%	11.1%	14.8%	5.8%	(1.4%)	(1.2%)	1.8%	(27.1%)	4.3%	11.1%	17.7%	12.7%	21.0%	12.9%	15.1%	50.1%	21.6%	35.0%	65.7%	17.8%	2.3%

Analyst consensus

Buy37 analysts

Bearish · 0 · Hold · 9 · Bullish · 28

Earnings history

	EPS	Estimate
Q4 2024	$1.40	$1.11	Beat
Q1 2025	$1.25	$0.92	Beat
Q2 2025	$1.43	$0.91	Beat
Q3 2025	$1.71	$1.44	Beat
Q4 2025	$2.52	$2.07	Beat
Q1 2026	$2.90	$2.07	Beat
Q2 2026	$2.10	$1.99	Beat
Q3 2026	$2.20	$1.96	Beat

Peers

Company overview

IPO dateMar 17, 1980

CEONatascha Viljoen

Employees17,500

SectorBasic Materials

IndustryGold

CountryUS

ExchangeNew York Stock Exchange

Websitewww.newmont.com

Newmont Corporation is primarily involved in the mining and exploration of gold resources. Additionally, the company undertakes prospecting for other base and precious metals, including copper, silver, zinc, and lead. Its operations and assets are geographically widespread, located across various countries such as the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of the close of 2021 (December 31st), Newmont reported substantial proven and probable gold reserves, totaling 92.8 million ounces, and managed a vast land portfolio covering 62,800 square kilometers. Founded in 1916, the company's corporate headquarters are situated in Denver, Colorado.

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