Gold
26 companies · $102B combined revenue · $50.1B operating profit
The typical US-listed gold company grew revenue 45.1% and earnings 134% in its latest year, at a 40% operating margin, and 16 of 26 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
45.1%Median revenue growth
134%Median earnings growth
26.9%Median revenue growth, 3 yrs
71.6%Median earnings growth, 3 yrs
40%Median operating margin
17.2%Median ROCE
Fastest revenue growthFirst Majestic Silver AG124%Fastest earnings growthOR Royalties OR1167%Highest ROCEGold Fields GFI40.3%Biggest margin gainFirst Majestic Silver AG+32.3 pts
Growth engines: the 4 Cylinders
All four working: 65% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more100%
- Operating leverage · Operating income growing faster than a growing revenue87%
- Margin expansion · Operating margin up 1 point or more88%
- Debt reduction · Debt down 5% or more, or net cash75%
Combined revenue · 23 companies reporting in US dollars
Combined operating margin
All 26 companies
| Median | – | 45.1% | 134% | 40% | 17.2% | 0.15x |
| NEMNewmont | $22.7B | 21.3%▼ | 112%▼ | 48.4%▲ | 21.3%▲ | 0.15x▲ |
| AEMAgnico Eagle Mines | $11.9B | 43.7%▼ | 135%▲ | 57.1%▲ | 21.2%▲ | 0.01x▲ |
| BBarrick Mining | $17.0B | 31.2%▼ | 132%▼ | 54.3%▲ | 19.2%▲ | 0.18x▼ |
| WPMWheaton Precious Metals | $2.3B | 80.2%▲ | 178%▲ | 68.3%▲ | 17.6%▲ | – |
| FNVFranco Nevada | $1.8B | 63.7%▲ | 101%▼ | 74.3%▲ | 16.7%▼ | – |
| AUAngloGold Ashanti | $9.9B | 70.8%▲ | 203%▲ | 44.4%▲ | 32.6%▲ | 0.25x▼ |
| GFIGold Fields | $8.8B | 68.2%▲ | 182%▲ | 62.3%▲ | 40.3%▲ | 0.32x▼ |
| KGCKinross Gold | $7.1B | 36.9%▼ | 148%▲ | 46.5%▲ | 29.8%▲ | 0.09x▲ |
| PAASPan American Silver | $3.6B | 28.4%▼ | 767%▲ | 34.1%▼ | 13.8%▼ | 0.10x▲ |
| CDECoeur Mining | $2.1B | 96.4%▲ | 895%▲ | 34.2%▼ | 16.4%▼ | – |
| AGIAlamos Gold | $1.8B | 34.3%▼ | 212%▲ | 60.7%▲ | 18.9%▲ | 0.04x▲ |
| EQXEquinox Gold | $1.8B | 99.1%▲ | -34.7%▼ | 23.8%▼ | 4.7%▼ | 0.27x▼ |
| HMYHarmony Gold Mining | ZAR 73.9B | 20.4%▼ | 67.4%▼ | 27.5%▼ | 31.3%▲ | 0.04x▲ |
| IAGIamgold | $2.9B | 74.7%▲ | -13.6%▼ | 38.3%▼ | 20.5%▲ | 0.16x▼ |
| EGOEldorado Gold | $1.8B | 37.5%▼ | 75.7%▼ | 40% | 12.2%▼ | 0.30x▼ |
| AGFirst Majestic Silver | $1.3B | 124%▲ | – | 31.6%▼ | 9.4%▼ | 0.11x▲ |
| OROR Royalties | $277M | 45.1% | 1167%▲ | 70.9%▲ | 12.8%▼ | 0.00x▲ |
| CGAUCenterra Gold | $1.1B | 28.8%▼ | – | 1.6%▼ | 0.9%▼ | 0.00x▲ |
| ARISAris Mining | $928M | 81.7%▲ | 241%▲ | 38.7%▼ | 16.3%▼ | 0.36x▼ |
| FSMFortuna Mining | $947M | 39.8%▼ | 119%▼ | 43.1%▲ | 19.4%▲ | – |
| TGBTrekor Metals | CAD 673M | 10.7%▼ | – | 3%▼ | 0.9%▼ | 0.96x▼ |
| NGNovagold Resources | $0M | – | – | – | -14.3%▼ | 1.02x▼ |
| AAUCAllied Gold | $1.3B | 82.3%▲ | – | 19.8%▼ | 23.2%▲ | 0.38x▼ |
| EXKEndeavour Silver | $468M | 115%▲ | – | 7.6%▼ | 3.7%▼ | 0.02x▲ |
| DRDDrdgold | ZAR 11.2B | 41.6%▼ | 89.7%▼ | 51.4%▲ | 35%▲ | – |
| SVMSilvercorp Metals | $438M | 46.6%▲ | -58.2%▼ | 18.7%▼ | 6.1%▼ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).