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Gold · Basic Materials · Fiscal year ends Dec 31
Centerra Gold reported revenue of $1.1B in the fiscal year ended Dec 2023, up 28.8% from the year before. Operating income was $18M, an operating margin of 1.6%, and net income was −$81M. Operating cash flow of $246M less capital expenditure of $85M left free cash flow of $160M. It held more cash than debt (net cash $613M).
Ranks among the 26 gold companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 |
|---|---|---|---|---|
| Revenue | 721 | 900 | 850 | 1,095 |
| Gross profit | 215 | 292 | 179 | 264 |
| Operating income | 43.9 | 334 | −36.8 | 17.8 |
| Interest expense | 3.6 | 0.1 | 9.5 | 15.3 |
| Pre-tax income | 23.8 | 403 | −44.4 | 13.6 |
| Income tax | 7.7 | −44.0 | 32.8 | 94.9 |
| Net income | 409 | −382 | −77.2 | −81.3 |
| Diluted EPS | 1.37 | −1.29 | −0.31 | −0.38 |
| Diluted shares | 296 | 297 | 266 | 218 |
| Fiscal year | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 |
|---|---|---|---|---|
| Cash & equivalents | 545 | 947 | 532 | 613 |
| Receivables | 66.1 | 76.8 | 92.2 | 70.8 |
| Inventory | 581 | 221 | 317 | 257 |
| Current assets | 1,373 | 1,271 | 991 | 966 |
| Net PP&E | 1,686 | 1,272 | 1,273 | – |
| Total assets | 3,136 | 2,677 | 2,336 | 2,281 |
| Payables | 233 | 187 | 199 | 202 |
| Deferred revenue | 48.9 | 64.2 | 53.7 | 53.8 |
| Current liabilities | 258 | 227 | 275 | 297 |
| Long-term debt | – | 0.0 | 0.0 | 0.0 |
| Total liabilities | 670 | 633 | 526 | 607 |
| Shareholders' equity | 2,466 | 2,044 | 1,810 | 1,674 |
| Fiscal year | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 |
|---|---|---|---|---|
| Operating cash flow | 930 | 415 | −2.0 | 246 |
| Capital expenditure | 104 | 92.5 | 80.9 | 85.3 |
| Free cash flow | 826 | 322 | −82.9 | 160 |
| Depreciation & amortisation | 95.8 | 121 | 97.1 | 125 |
| Stock-based compensation | 22.0 | 1.4 | 0.8 | 10.0 |
| Share buybacks | – | 0.0 | 104 | – |
| Dividends paid | 39.8 | 45.0 | 47.7 | 44.9 |
| Fiscal year | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 24.8% | −5.5% | 28.8% |
| Operating income growth (YoY) | – | 660.4% | −111.0% | – |
| EPS growth (YoY) | – | −194.2% | – | – |
| Gross margin | 29.9% | 32.4% | 21.0% | 24.1% |
| Operating margin | 6.1% | 37.1% | −4.3% | 1.6% |
| Net margin | 56.6% | −42.4% | −9.1% | −7.4% |
| Return on equityBlank when equity is negative | 16.6% | −18.7% | −4.3% | −4.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 1.5% | 13.6% | −1.8% | 0.9% |
| Free cash flow margin | 114.6% | 35.8% | −9.8% | 14.6% |
| Cash conversion (CFO ÷ net income) | 2.28x | −1.09x | 0.03x | −3.02x |
| Receivable days | 33 | 31 | 40 | 24 |
| Inventory days | 419 | 133 | 172 | 113 |
| Payable days | 168 | 112 | 108 | 89 |
| Interest cover | 12.2x | 6071x | −3.86x | 1.16x |
| Debt ÷ equity | – | 0.00x | 0.00x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −947 | −532 | −613 |
| Current ratio | 5.32x | 5.59x | 3.60x | 3.25x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.