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Newmont Corporation (NEM) USD

Newmont Corporation is a gold mining company that also explores for copper, silver, lead, and zinc. It operates mines and projects across multiple countries, including the United States, Australia, and Ghana.

At a glance: strengths & risks
✓Revenue growing (+15% y/y, Q2 2026)✓Net cash balance sheet✗Margins compressing (70%→59%, Q2 2026)

Sector: Gold mining

Geography: USA, Canada, Australia, Ghana

COMM_NEM

Price chart

128.09 USDDay -1.79%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
128.09 USD · -1.79%
Market cap
139.5 bn USD

Growth

Δ revenue y/y
15.1%
Δ EBITDA y/y
0.6%

Multiples

P/E (LTM)
16.2x
3y avg: 17.0x
P/B (FY)
4.1x
P/E (ann.)
15.8x
EV/EBITDA (LTM)
8.5x
3y avg: 8.6x
EV/EBITDA (ann.)
9.0x

Cash return

Dividend yield
0.8%
FCF yield (LTM)
5.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-6.3%
↓ details

Liquidity

Daily turnover (listing)
721.7 mln USD

Shares: yahoo_fundamentals_timeseries/NEM

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK6.1
y/y 15.1%
3.2
y/y 1.2%
0.6
y/y -2.6%
3.8
y/y 0.6%
2.2
y/y 6.8%
2.9-0.757.6
y/y 4.5%
35.2
y/y 9.8%
25.1%-3.9Yahoo Finance
2026-03-31Q1 2026 (3M)OK7.3
y/y 45.8%
4.6
y/y 85.5%
0.6
y/y 6.6%
5.2
y/y 70.2%
3.3
y/y 72.5%
3.8-0.657.7
y/y 3.9%
34.9
y/y 11.8%
37.9%-3.7Link
2025-12-31Q4 2025 (3M)OK6.8
y/y 20.6%
3.2
y/y 58.0%
0.7
y/y -3.5%
3.9
y/y 42.6%
1.3
y/y -7.3%
3.6-0.857.1
y/y 1.4%
33.9
y/y 13.2%
21.1%-3.1Link
2025-09-30Q3 2025 (3M)OK5.5
y/y 20.0%
2.5
y/y 136.7%
0.6
y/y 1.9%
3.1
y/y 86.4%
1.8
y/y 98.7%
2.3-0.754.7
y/y -2.6%
33.2
y/y 11.8%
7.5%-0.8Link
2025-06-30Q2 2025 (3M)OK5.3
y/y 20.8%
3.1
y/y 201.0%
0.6
y/y 3.0%
3.7
y/y 128.2%
2.1
y/y 141.6%
2.4-0.755.2
y/y -0.9%
32.1
y/y 9.3%
26.0%0.5Link
2025-03-31Q1 2025 (3M)OK5.0
y/y 24.5%
2.5
y/y 477.3%
0.6
y/y -9.3%
3.1
y/y 183.2%
1.9
y/y 1012.4%
2.0-0.855.5
y/y 0.3%
31.2
y/y 8.2%
24.7%2.8Link
2024-12-31Q4 2024 (3M)OK5.7
y/y 42.8%
2.1
y/y 166.2%
0.7
y/y 1.2%
2.7
y/y 213.3%
1.4
y/y 144.4%
2.5-0.956.3
y/y 1.5%
29.9
y/y 3.1%
11.2%4.8Link
2024-09-30Q3 2024 (3M)OK4.6
y/y 84.7%
1.1
y/y 356.5%
0.6
y/y 31.5%
1.7
y/y 137.4%
0.9
y/y 483.5%
1.6-0.956.2
y/y 47.5%
29.7
y/y 55.8%
4.2%5.5Link
2024-06-30Q2 2024 (3M)OK4.4
y/y 64.1%
1.0
y/y 245.3%
0.6
y/y 23.9%
1.6
y/y 108.4%
0.9
y/y 450.3%
1.4-0.855.7
y/y 46.0%
29.4
y/y 52.8%
11.7%6.0Link
2024-03-31Q1 2024 (3M)OK4.0
y/y 50.2%
0.4
y/y -20.6%
0.7
y/y 41.9%
1.1
y/y 8.2%
0.2
y/y -51.6%
0.8-0.855.3
y/y 44.2%
28.9
y/y 49.1%
2.3%6.6Link
2023-12-31Q4 2023 (3M)OK4.0
y/y —
-3.1
y/y —
0.7
y/y —
-2.4
y/y —
-3.2
y/y —
0.6-0.955.5
y/y —
29.0
y/y —
-10.4%5.8Link
2023-09-30Q3 2023 (3M)OK2.5
y/y —
0.2
y/y —
0.5
y/y —
0.7
y/y —
0.2
y/y —
1.0-0.638.1
y/y —
19.1
y/y —
1.1%2.4Link
2023-06-30Q2 2023 (3M)OK2.7
y/y —
0.3
y/y —
0.5
y/y —
0.8
y/y —
0.2
y/y —
0.7-0.638.1
y/y —
19.2
y/y —
3.2%2.3Link
2023-03-31Q1 2023 (3M)OK2.7
y/y —
0.5
y/y —
0.5
y/y —
1.0
y/y —
0.4
y/y —
0.5-0.538.4
y/y —
19.4
y/y —
—2.1Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Long-term debt (incl. LT leases)5 083
− Cash & equivalents9 009
Net debt-3 926

Net debt / LTM EBITDA: -0.2x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02 0004 0006 0008 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%50%100%150%200%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-1 00001 0002 0003 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-5 000-2 50002 5005 0007 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2023–2025 operating cash flow came to 1.68x of reported net profit; after capex, 0.96x. Loss years (2023) are left out of the ratio.
year202320242025
cash flow / profit—1.90x1.46x
accruals, % of assets-9.5%-5.3%-5.7%
Last twelve months (to 2026-06-30): 1.47x of profit came back as operating cash flow.
net debt / EBITDA -0.2x · capex 1.3x of depreciation · dividends 35% of free cash flow · share count +14.8% a year
● Diluted share count grew 14.8% a year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Gold

Proved reserves
158 mln ounces
2021
Reserve life (R/P)
40.6 yrs
reserves ÷ annual output
Annual production
3.89 mln ounces
2025

Production, mln ounces

5.2420215.2820224.4420236.0720243.892025

Proved reserves

YearReserves, mln ounces
2021158
2020159

Production

YearProduction, mln ouncesper day, mln ounces
20253.89
−35.8%		0.01
20246.07
+36.6%		0.02
20234.44
−15.9%		0.01
20225.28
+0.8%		0.01
20215.240.01
20201.50 * (4M)0.01

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Gold

Current 4 429spot vs LTM +4%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -6.3% ▲ +0.0 pp 1d

Main driver: Gold +4% vs LTM; revenue ×1.05 vs costs ×1.15; EBITDA 16 578→13 399; at 9.1× EV/EBITDA → -6%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, AUD3y vs LTM
Gold (rev)+93%4 428.954 242.243 291.98+4%-4%-22%
US Diesel Index (EIA) (cost)-15%5.604.214.15+33%+22%-1%
Electricity Spot (cost)-10%57.8062.1952.40-7%-15%-16%
Silver (rev)+3%65.9962.3043.27+6%-3%-31%
Copper (rev)+2%14 686.7312 225.5911 004.25+20%+10%-10%
Zinc (rev)+1%3 927.753 149.593 030.85+25%+15%-4%
Lead (rev)+1%1 907.631 989.602 097.44-4%-12%+5%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue25 767
LTM EBITDA16 578
LTM cash costs (revenue − EBITDA)9 189
2 · Revenue projection
Revenue multiplier — spot×1.050 (+5%)
= Spot revenue27 057
Revenue multiplier — 3y price×0.782 (-22%)
= 3-year-price revenue20 143
3 · Costs projection
Cost multiplier — spot×1.148 (+15%)
= Spot cash costs10 553
Cost multiplier — 3y price×1.072 (+7%)
= 3-year-price cash costs9 849
4 · EBITDA projection (revenue − costs)
= Spot EBITDA16 503
= 3-year-price EBITDA10 294
Conservative EBITDA = min(spot, avg)13 399
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct)9.1x
Target EV = EV/EBITDA × conservative EBITDA122 330
Net debt-4 179
Target market cap = EV − net debt126 509
Current market cap134 967

Upside = target market cap ÷ current − 1 = -6.3%

Life of mine: 23 yrs

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q14 0233 138+28.2%1 082251+331.2%
2024 Q24 4023 857+14.1%1 638644+154.4%
2024 Q34 6054 411+4.4%1 6901 076+57.1%
2024 Q45 6525 065+11.6%2 7271 410+93.3%
2025 Q15 0105 535-9.5%3 0642 612+17.3%
2025 Q25 3176 170-13.8%3 7383 282+13.9%
2025 Q35 5246 270-11.9%3 1503 573-11.8%
2025 Q46 8187 250-6.0%4 5754 713-2.9%
2026 Q17 3078 006-8.7%5 2155 665-7.9%
2026 Q26 1187 207-15.1%3 6384 927-26.2%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +21% vs +58% the year before — a -36.8 pp move. 3-year CAGR —.
revenue growth by year: 2024 +58% · 2025 +21%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.6x · target 75th pct (3y) 12.2x · LTM avg 9.1x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-030.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2026-05-270.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2026-03-030.26 USDEx-dividend: 0.26 USD per sharePaidYahoo Finance (ex-div)
2025-11-260.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2025-09-040.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2025-05-270.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2025-03-040.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-11-270.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-09-050.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-06-040.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2024-03-040.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2023-11-290.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2023-09-060.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2023-05-310.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2023-03-080.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2022-12-070.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)
2022-09-070.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)
2022-06-010.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)
2022-03-090.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)
2021-12-080.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)
2021-09-080.55 USDEx-dividend: 0.55 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Newmont Corporation (NEM) — from primary filings.

Frequently asked questions

What is Newmont Corporation (NEM)'s P/E ratio?
Newmont Corporation (NEM) trades at a P/E of 16.2x (price to trailing 12-month earnings).
What is Newmont Corporation (NEM)'s EV/EBITDA?
Newmont Corporation (NEM) trades at 8.5x EV/EBITDA.
What is Newmont Corporation (NEM)'s P/B ratio?
Newmont Corporation (NEM) trades at a P/B of 4.1x.
What is Newmont Corporation (NEM)'s dividend yield?
Newmont Corporation (NEM)'s trailing 12-month dividend yield is 0.8%.
What is Newmont Corporation (NEM)'s return on equity (ROE)?
Newmont Corporation (NEM)'s ROE is 25.1%.
What is Newmont Corporation (NEM)'s market capitalization?
Newmont Corporation (NEM)'s market cap is 139.5 bn USD.

See also: Gold Mining Stocks: The Cheapest Gold Miners by Valuation (2026) · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map