Newmont
NEM · NYSEGold and Silver Ores · Fiscal year ends Dec 31
Newmont reported revenue of $22.7B in the fiscal year ended Dec 2025, up 21.3% from the year before. Net income was $7.1B. Operating cash flow of $10.3B less capital expenditure of $3B left free cash flow of $7.3B. It held more cash than debt (net cash $2.5B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $12.2B | $11.9B | $11.8B | $18.7B | $22.7B |
| Research & development | $154M | $229M | $200M | $197M | $166M |
| Pre-tax income | $1.1B | −$51M | −$2B | $4.6B | $11.3B |
| Income tax | $1.1B | $455M | $526M | $1.4B | $4.6B |
| Net income | $1.2B | −$429M | −$2.5B | $3.3B | $7.1B |
| Diluted EPS | 1.46 | −0.54 | −2.97 | 2.92 | 6.39 |
| Diluted shares | 801M | 795M | 841M | 1,148M | 1,108M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $5B | $2.9B | $3B | $3.6B | $7.6B |
| Receivables | $337M | $366M | $734M | $1.1B | $1.1B |
| Current assets | $7.7B | $6.5B | $7.5B | $12.3B | $13.1B |
| Net PP&E | $24.1B | $24.1B | $37.6B | $33.5B | – |
| Goodwill | $2.8B | $2B | $3B | $2.7B | $2.7B |
| Total assets | $40.6B | $38.5B | $55.5B | $56.3B | $57.1B |
| Payables | $518M | $633M | $960M | $843M | $816M |
| Current liabilities | $2.7B | $2.9B | $6B | $7.5B | $5.7B |
| Short-term debt | $87M | $0 | $1.9B | $924M | $0 |
| Long-term debt | $5.6B | $5.6B | $7B | $7.6B | $5.1B |
| Total liabilities | $18.7B | $18.9B | $26.3B | $26.2B | $23.1B |
| Shareholders' equity | $22B | $19.4B | $29B | $29.9B | $33.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $4.3B | $3.2B | $2.8B | $6.4B | $10.3B |
| Capital expenditure | $1.7B | $2.1B | $2.7B | $3.4B | $3B |
| Free cash flow | $2.6B | $1.1B | $97M | $3B | $7.3B |
| Depreciation & amortisation | $2.3B | $2.2B | $2.1B | $2.6B | $2.5B |
| Stock-based compensation | $72M | $76M | $80M | $89M | $99M |
| Acquisitions | $328M | $15M | −$668M | $0 | $0 |
| Share buybacks | $525M | $0 | $0 | $1.2B | $2.3B |
| Dividends paid | $1.8B | $1.7B | $1.4B | $1.1B | $1.1B |
| Dividend per share | 2.20 | 2.20 | 1.60 | 1.00 | 1.00 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −2.5% | −0.9% | 58.2% | 21.3% |
| EPS growth (YoY) | – | −137.0% | – | – | 118.8% |
| Net margin | 9.5% | −3.6% | −21.1% | 17.9% | 31.3% |
| Return on equityBlank when equity is negative | 5.3% | −2.2% | −8.6% | 11.2% | 20.9% |
| Free cash flow margin | 21.5% | 9.1% | 0.8% | 15.8% | 32.2% |
| Cash conversion (CFO ÷ net income) | 3.67x | −7.51x | −1.11x | 1.90x | 1.46x |
| Receivable days | 10 | 11 | 23 | 21 | 17 |
| Debt ÷ equity | 0.26x | 0.29x | 0.31x | 0.28x | 0.15x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $660M | $2.7B | $5.9B | $4.9B | −$2.5B |
| Current ratio | 2.90x | 2.23x | 1.25x | 1.63x | 2.29x |
Recent filings
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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.