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(dollars in millions, except per share, per ounce and per pound amounts) Introduction Newmont Corporation was incorporated in 1921 and is primarily a gold producer with significant operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada. At December 31, 2025, Newmont had attributable pro…
$111.61
+$3.97 (+3.69%)
Price from 8 days ago
Margins and capital returns are both well above average: 48.35% operating margin, ROIC at 16.21%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 21.3% YoY with margins expanding 24.1pp.
Even for strong businesses, today's 17x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
17.5x earnings, 16.9x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$22.67B
▲ +21.3% YoY
Net Income (TTM)
$7.08B
▲ +111.6% YoY
Op. Margin
48.35%
▲ +24.1pp YoY
ROIC
16.21%
▲ +8.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$7.30B
▲ +146.5% YoY
Op. Cash Flow (TTM)
$10.33B
▲ +62.4% YoY
Net Debt
-$2.54B
Net Cash Position
Cash & Equiv.
$8.24B
5Y CAGR: +14.5%
5Y CAGR: +15.3%
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