Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023.
It is a $124B materials company. Revenue grew 25.2% over the last year, it keeps 33¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 14.4× earnings — in the cheapest third of its own history.
- Website
- newmont.com
- Location
- Denver, CO
- Employees
- 17 500
- Sector
- Basic Materials
- Founded
- 1921
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, growth, profitability, health and quality; Moat lags behind.
Valuation85
- P/E vs own history32th pct · 20/25
- FCF yield7.8% · 20/25
- P/S4.8x · 20/25
- EV/EBITDA7.7x · 25/25
Growth85
- Revenue CAGR16.7% · 20/25
- Net income CAGR57.0% · 25/25
- EPS CAGR ~5Y12.7% · 20/25
- Fwd implied growth15.4% · 20/25
Profitability95
- ROIC23.0% · 20/25
- ROE25.1% · 25/25
- Net margin33.4% · 25/25
- Operating margin51.0% · 25/25
Health100
- Altman Z4.40 · 25/25
- Current ratio2.55 · 25/25
- Interest coverage184.1x · 25/25
- Net cash / debtNet cash · 25/25
Quality81
- Piotroski F9/9 · 25/25
- Beneish M-2.77 · 25/25
- FCF conversion113% · 25/25
- Margin stabilityσ 15.2% · 6/25
Moat25
- ROIC >12% years1/7 yrs · 0/25
- Median gross margin13.1% · 0/25
- FCF-positive years9/9 yrs · 25/25
- Worst-year net marginworst -21.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$7.08B net income
- 2025AcquisitionNewmont completed the integration of Newcrest Mining following its US$17 billion acquisition finalized in…
- FY2024FinancialTurned profitable$3.35B net income after a loss year
- 2023AcquisitionNewmont acquired Newcrest Mining for US$16.8 billion
- FY2020FinancialRevenue crossed $10B$11.5B for the year
- FY2019FinancialRevenue crossed $1B$9.74B for the year
- FY2019FinancialPositive free cash flow every year since7-year streak
- 2019AcquisitionThe Newmont Corporation bought Canadian mining company Goldcorp in 2019 for US$10 billion
- FY2018FinancialBecame debt-freecash now exceeds total debt
- 2011AcquisitionThe company acquired Canada's Fronteer Gold Inc. for CA$2.3 billion
- 2009AcquisitionNewmont purchased the remaining one-third interest in Boddington Gold Mine from AngloGold Ashanti, bringing…
- 2002AcquisitionNewmont completed the acquisition of Normandy Mining and Franco-Nevada
- Jun 21, 2000AcquisitionNewmont announced a merger with Battle Mountain Gold
- 1929MilestoneNewmont became a mining company with its first gold product by acquiring California's Empire Star Mine
- 1925AcquisitionBeginning in 1925, Newmont acquired interests in a Texas oil field
- 1921FoundedIncorporated in 1921, it holds ownership of gold mines in the United States, Canada, Mexico, the Dominican Republic,…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (68.9%)
- Strongly profitable — 33.4% net margin
- Revenue growing 25.2% year over year
- Strong cash conversion — FCF is 37.8% of revenue
- Net cash position after subtracting debt from cash
Watch-outs
- Loss-making in 4 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+25.2% YoY
- Profitable — makes more than it spends$8.60B TTM
- Profit growing — earnings are higher than last year+12.8% YoY
- Generates cash — cash left after running and investing$9.73B TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$124B market cap
- Not printing shares — share count not ballooning — you keep your slice+37.5% shares over ~5y
- Proven track record — years of profitability behind it5/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 4.4 — safe
- Pays a dividend — returns cash to shareholdersyield 0.89%
- Valuation not extreme — price not wildly above earningsP/E 14.4
Peer comparisonNewmont Corporation vs 6 largest basic materials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| NEM this company | $124.2B | 14.4 | +25.2% | 33.4% | Strong |
| LIN Linde plc Ordinary Share | $223.2B | 30.8 | +6.6% | 20.4% | Solid |
| SCCO Southern Copper Corporation | $176.8B | 31.2 | +32.8% | 35.9% | Strong |
| FCX Freeport-McMoran Inc. | $105.8B | 35.9 | +0.2% | 11.4% | Strong |
| AEM Agnico Eagle Mines Ltd. | $95.8B | 15.9 | +43.7% | 37.5% | Strong |
| B Barrick Mining Corporation | $67.5B | 10.1 | +9.2% | 31.6% | Strong |
| WPM Wheaton Precious Metals Corp. | $63.0B | 30.2 | +80.2% | 63.6% | Solid |
Head-to-head: NEM vs LIN · NEM vs SCCO · NEM vs FCX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/NEM
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Deeper analysis of NEM on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $117.85 · market cap $124B.