Kinross Gold
KGC · NYSEGold and Silver Ores · Fiscal year ends Dec 31
Net income was $2.5B. Operating cash flow of $3.8B less capital expenditure of $1.2B left free cash flow of $2.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cost of revenue | $2.1B | $2.9B | $3.1B | $3.3B | $3.3B |
| Gross profit | $541M | $515M | $1.2B | $1.9B | $3.7B |
| Selling, general & admin | $114M | $130M | $109M | $126M | $140M |
| Operating income | $72M | $118M | $801M | $1.5B | $3.3B |
| Interest expense | $72M | $68M | $69M | $51M | $82M |
| Pre-tax income | $84M | $107M | $709M | $1.5B | $3.2B |
| Income tax | $115M | $76M | $293M | $487M | $725M |
| Net income | $219M | −$606M | $415M | $994M | $2.5B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $532M | $418M | $352M | $612M | $1.7B |
| Receivables | $215M | $318M | $59M | $53M | $31M |
| Inventory | $1.2B | $1.1B | $1.2B | $1.2B | $1.4B |
| Current assets | $1.9B | $1.9B | $1.8B | $2.1B | $3.3B |
| Net PP&E | $7.6B | $7.7B | $8B | $8B | $8.3B |
| Goodwill | $159M | – | – | – | – |
| Total assets | $10.4B | $10.4B | $10.5B | $10.9B | $12.4B |
| Payables | $493M | $550M | $532M | $543M | $716M |
| Current liabilities | $741M | $752M | $686M | $1.1B | $1.4B |
| Total liabilities | $3.8B | $4.5B | $4.4B | $3.9B | $3.7B |
| Shareholders' equity | $6.6B | $5.8B | $6.1B | $6.9B | $8.6B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.1B | – | $1.6B | $2.4B | $3.8B |
| Capital expenditure | $822M | $764M | $1.1B | $1.1B | $1.2B |
| Free cash flow | $314M | – | $507M | $1.4B | $2.6B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating income growth (YoY) | – | 63.2% | 580.9% | 92.2% | 112.8% |
| Return on equityBlank when equity is negative | 3.3% | −10.4% | 6.8% | 14.5% | 28.8% |
| ROCEEBIT ÷ (assets − current liabilities) | 0.7% | 1.2% | 8.1% | 15.7% | 29.8% |
| Cash conversion (CFO ÷ net income) | 5.19x | – | 3.86x | 2.46x | 1.52x |
| Inventory days | 204 | 133 | 137 | 139 | 150 |
| Payable days | 87 | 68 | 63 | 61 | 78 |
| Interest cover | 1.01x | 1.73x | 11.6x | 30.5x | 40.1x |
| Current ratio | 2.63x | 2.47x | 2.63x | 2.01x | 2.35x |
Recent filings
More in Gold And Silver Ores
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.