Revenue scaled to $1.0 billion in 2026Q1 as operational efficiencies pushed gross margins to 55.4%, reflecting the successful commercial ramp-up of the Côté Gold project.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 3.42B | 2.9B | 1.63B | 987.1M | 958.8M | 875.5M | 1.24B | 1.07B | 1.11B | 1.09B | 987.1M | 917M | 1.01B | 1.15B | 1.67B | 1.67B | 1.17B | 914.34M | 869.64M | 678.13M | 303.35M | 129.77M | 121.87M | 101.11M | 89.82M | 81.66M | 57.98M | 63.52M | 60.28M | 49.6M | 72.97K |
| Revenue Growth % | 93.23% | 77.75% | 65.43% | 2.95% | 9.51% | -29.49% | 16.56% | -4.11% | 1.47% | 10.92% | 7.64% | -9.02% | -12.13% | -31.31% | -0.19% | 43.34% | 27.66% | 5.14% | 28.24% | 123.55% | 133.75% | 6.48% | 20.53% | 12.57% | 10% | 40.83% | -8.73% | 5.39% | 21.53% | 67873.8% | - |
| Cost of Goods Sold | 1.78B | 1.71B | 1.08B | 863M | 810.9M | 813.3M | 991.4M | 995.7M | 974.1M | 942M | 884.9M | 971.6M | 892.9M | 807M | 948M | 988.14M | 616.62M | 486.58M | 451.83M | 454.93M | 168.9M | 88.29M | 77.15M | 63.2M | 55.11M | 47.18M | 29.71M | 35.32M | 29.27M | 27.28M | 1.61M |
| COGS % of Revenue | - | 58.78% | 66.33% | 87.43% | 84.57% | 92.9% | 79.84% | 93.47% | 87.68% | 86.04% | 89.65% | 105.95% | 88.59% | 70.35% | 56.77% | 59.06% | 52.83% | 53.22% | 51.96% | 67.09% | 55.68% | 68.03% | 63.3% | 62.51% | 61.36% | 57.78% | 51.24% | 55.6% | 48.55% | 55.01% | 2200% |
| Gross Profit | 1.64B | 1.2B | 549.9M | 124.1M | 147.9M | 62.2M | 250.3M | 69.6M | 136.9M | 152.9M | 102.2M | -54.6M | 115M | 340.1M | 722M | 685.04M | 550.63M | 427.76M | 417.81M | 223.2M | 134.45M | 41.48M | 44.73M | 37.91M | 34.71M | 34.48M | 28.27M | 28.2M | 31.01M | 22.32M | -1.53M |
| Gross Margin % | 47.85% | 41.22% | 33.67% | 12.57% | 15.43% | 7.1% | 20.16% | 6.53% | 12.32% | 13.96% | 10.35% | -5.95% | 11.41% | 29.65% | 43.23% | 40.94% | 47.17% | 46.78% | 48.04% | 32.91% | 44.32% | 31.97% | 36.7% | 37.49% | 38.64% | 42.22% | 48.76% | 44.4% | 51.45% | 44.99% | -2100% |
| Gross Profit Growth % | - | 117.58% | 343.11% | -16.09% | 137.78% | -75.15% | 259.63% | -49.16% | -10.46% | 49.61% | 287.18% | -147.48% | -66.19% | -52.89% | 5.39% | 24.41% | 28.72% | 2.38% | 87.19% | 66.01% | 224.08% | -7.25% | 17.98% | 9.22% | 0.68% | 21.94% | 0.25% | -9.05% | 38.96% | 1556.35% | - |
| Operating Expenses | 103.99M | 67.16M | -394.1M | 124.4M | 106.6M | 166.8M | 104.9M | 407.7M | 94M | 78.7M | 70.5M | 75.1M | 142.6M | 122.2M | 175.8M | 56.88M | 123.05M | 166.96M | 169.63M | 151.09M | 68.64M | 36.07M | 45.54M | 33.18M | 26.98M | 18.12M | 16.48M | 14.31M | 14.79M | 13.85M | 3.21M |
| OpEx % of Revenue | - | 2.31% | -24.13% | 12.6% | 11.12% | 19.05% | 8.45% | 38.27% | 8.46% | 7.19% | 7.14% | 8.19% | 14.15% | 10.65% | 10.53% | 3.4% | 10.54% | 18.26% | 19.51% | 22.28% | 22.63% | 27.8% | 37.37% | 32.81% | 30.04% | 22.2% | 28.42% | 22.52% | 24.54% | 27.93% | 4400% |
| Selling, General & Admin | 66.33M | 59.02M | 42.3M | 46.9M | 51.1M | 39.6M | 44.9M | 47.1M | 41.7M | 40.3M | 38.8M | 32.6M | 40.6M | 47.4M | 55.9M | 54.25M | 46.85M | 49.15M | 42.03M | 33.51M | 18.98M | 9.73M | 19.73M | 6.63M | 6.39M | 2.52M | 4.28M | 2.42M | 2.97M | 3.92M | 2.99M |
| SG&A % of Revenue | - | 2.03% | 2.59% | 4.75% | 5.33% | 4.52% | 3.62% | 4.42% | 3.75% | 3.68% | 3.93% | 3.56% | 4.03% | 4.13% | 3.35% | 3.24% | 4.01% | 5.38% | 4.83% | 4.94% | 6.26% | 7.5% | 16.19% | 6.55% | 7.12% | 3.08% | 7.38% | 3.81% | 4.93% | 7.9% | 4100% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.94% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 8.14M | -436.4M | 77.5M | 55.5M | 127.2M | 60M | 360.6M | 52.3M | -18.3M | 800K | 42.5M | 102M | 74.8M | 119.9M | 73.33M | 0 | 3.73M | 0 | 117.58M | 49.66M | 26.34M | 25.81M | 26.55M | 20.59M | 15.61M | 12.2M | 11.89M | 11.82M | 9.93M | 218.9K |
| Operating Income | 1.53B | 1.13B | 944M | -300K | 41.3M | -104.6M | 145.4M | -338.1M | 34.1M | 580M | 32.5M | -762M | -42.6M | -670.2M | 546.2M | 628.16M | 427.58M | 162.73M | 248.18M | 72.1M | 65.8M | 5.41M | -1.22M | 3.75M | 7.73M | 16.35M | 11.8M | 13.89M | 16.22M | 8.46M | -4.74M |
| Operating Margin % | 44.82% | 38.91% | 57.81% | -0.03% | 4.31% | -11.95% | 11.71% | -31.74% | 3.07% | 52.97% | 3.29% | -83.1% | -4.23% | -58.43% | 32.71% | 37.54% | 36.63% | 17.8% | 28.54% | 10.63% | 21.69% | 4.17% | -1% | 3.7% | 8.6% | 20.02% | 20.35% | 21.87% | 26.9% | 17.07% | -6500.01% |
| Operating Income Growth % | - | 19.63% | 314766.67% | -100.73% | 139.48% | -171.94% | 143% | -1091.5% | -94.12% | 1684.62% | 104.27% | -1688.73% | 93.64% | -222.7% | -13.05% | 46.91% | 162.75% | -34.43% | 244.19% | 9.58% | 1116.06% | 542.44% | -132.65% | -51.52% | -52.74% | 38.6% | -15.09% | -14.32% | 91.57% | 278.47% | - |
| EBITDA | 1.99B | 1.56B | 1.22B | 221.4M | 283.3M | 168.9M | 413.4M | -61.5M | 287.86M | 856.5M | 293.42M | -497.8M | 188.6M | -495M | 710.1M | 784.96M | 560.27M | 306.11M | 399.93M | 154.75M | 104.72M | 31.86M | 24.59M | 30.39M | 28.35M | 31.99M | 23.99M | 25.78M | 28.04M | 18.4M | -4.52M |
| EBITDA Margin % | 58.27% | 53.85% | 74.65% | 22.43% | 29.55% | 19.29% | 33.29% | -5.77% | 25.91% | 78.23% | 29.73% | -54.29% | 18.71% | -43.15% | 42.52% | 46.91% | 48% | 33.48% | 45.99% | 22.82% | 34.52% | 24.55% | 20.18% | 30.06% | 31.57% | 39.17% | 41.38% | 40.59% | 46.52% | 37.09% | -6200.01% |
| EBITDA Growth % | 67.76% | 28.22% | 450.59% | -21.85% | 67.73% | -59.14% | 772.2% | -121.36% | -66.39% | 191.9% | 158.94% | -363.94% | 138.1% | -169.71% | -9.54% | 40.1% | 83.03% | -23.46% | 158.44% | 47.78% | 228.73% | 29.54% | -19.09% | 7.19% | -11.36% | 33.31% | -6.94% | -8.04% | 52.4% | 506.69% | - |
| D&A (Non-Cash Add-back) | 460.52M | 433.66M | 275M | 221.7M | 242M | 273.5M | 268M | 276.6M | 253.76M | 276.5M | 260.92M | 264.2M | 231.2M | 175.2M | 163.9M | 156.8M | 132.69M | 143.38M | 151.75M | 82.65M | 38.92M | 26.45M | 25.81M | 26.65M | 20.63M | 15.64M | 12.2M | 11.89M | 11.82M | 9.93M | 218.9K |
| EBIT | 1.51B | 1.13B | 974.6M | 93.7M | 31.6M | -54.5M | 107.9M | -320.2M | 22.97M | 615.2M | 118.2M | -750.3M | -123.6M | -908M | 575.9M | 649M | 377.4M | 223.64M | 59.18M | 626K | 65.8M | 5.41M | -447K | 10.28M | 9.31M | 16.35M | 11.8M | 14.84M | 16.22M | 8.32M | -4.74M |
| Net Interest Income | -65.24M | -100.53M | 17.2M | 27.8M | 8.5M | 3.7M | -5.26M | -1.13M | 4.5M | -621.58K | -21.04M | -32.33M | -22.12M | -18.72M | -13.85M | -5.3M | 25.52M | 35.36M | 1.7M | -1.31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 7.47M | 8.24M | 17.2M | 27.8M | 8.5M | 3.7M | 9.37M | 12.89M | 13.3M | 9.74M | 3.26M | 2.21M | 953.55K | 3.3M | 3.01M | 37.64M | 56.7M | 860K | 2.37M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 72.7M | 108.77M | 0 | 0 | 0 | 0 | 14.63M | 14.02M | 2.7M | 10.36M | 24.3M | 34.54M | 23.08M | 22.01M | 16.87M | 7.13M | 3.56M | 680K | 675K | 202.83M | 0 | 0 | 0 | 0 | 0 | 2.27M | 1.8M | 0 | 0 | 0 | 0 |
| Other Income/Expense | -107.94M | -142.55M | 33.2M | 128.5M | 400K | 50.1M | -46.6M | 9.8M | -19M | 26.5M | 62.7M | -35.7M | -101.1M | -410.6M | 24.4M | 20.8M | 17.73M | -22.41M | -189.67M | -70.93M | 31.36M | 16.74M | 12.6M | 11.49M | 2.08M | -1.17M | -818.77K | 915.88K | 387.62K | 629.59K | 1.31M |
| Pretax Income | 1.43B | 986.78M | 977.2M | 128.2M | 41.7M | -54.5M | 98.8M | -328.3M | 18.3M | 608.1M | 95.2M | -783.8M | -143.7M | -869.8M | 570.6M | 648.99M | 433.42M | 222.1M | 58.51M | -683K | 97.16M | 22.15M | 11.38M | 15.24M | 7.7M | 15.18M | 10.98M | 15.76M | 16.6M | 8.95M | -3.43M |
| Pretax Margin % | 41.66% | 33.99% | 59.84% | 12.99% | 4.35% | -6.22% | 7.96% | -30.82% | 1.65% | 55.54% | 9.64% | -85.47% | -14.26% | -75.83% | 34.17% | 38.79% | 37.13% | 24.29% | 6.73% | -0.1% | 32.03% | 17.07% | 9.33% | 15.07% | 8.57% | 18.59% | 18.94% | 24.81% | 27.55% | 18.05% | -4700.01% |
| Income Tax | 315.85M | 241.66M | 129.4M | 30.7M | 78.1M | 33.4M | 44.1M | 30.4M | 38M | 97.6M | 33.4M | 11.5M | 117.9M | -9.2M | 199.4M | 221M | 135.41M | 107.98M | 68.42M | 41.38M | 24.77M | 1.66M | -234K | 202K | 2.16M | 4.23M | 104.68K | -1.18M | 7.04M | 5.46M | -2.12M |
| Effective Tax Rate % | 22.15% | 24.49% | 13.24% | 23.95% | 187.29% | -61.28% | 44.64% | -9.26% | 207.65% | 16.05% | 35.08% | -1.47% | -82.05% | 1.06% | 34.95% | 34.05% | 31.24% | 48.62% | 116.95% | -6058.13% | 25.49% | 7.48% | -2.06% | 1.33% | 28.07% | 27.88% | 0.95% | -7.46% | 42.41% | 60.94% | 61.7% |
| Net Income | 1.01B | 676.03M | 819.6M | 94.3M | -70.1M | -254.4M | 42.6M | -412.6M | -28.2M | 501.6M | 52.6M | -755.3M | -206.8M | -832.5M | 334.7M | 806.66M | 279.79M | 114.12M | -9.92M | -42.06M | 72.48M | 20.49M | 11.61M | 15.04M | 5.54M | 10.95M | 10.87M | 13.2M | 8.79M | 2.52M | -3.94M |
| Net Margin % | 29.53% | 23.29% | 50.19% | 9.55% | -7.31% | -29.06% | 3.43% | -38.73% | -2.54% | 45.81% | 5.33% | -82.37% | -20.52% | -72.57% | 20.04% | 48.21% | 23.97% | 12.48% | -1.14% | -6.2% | 23.89% | 15.79% | 9.53% | 14.87% | 6.16% | 13.41% | 18.75% | 20.78% | 14.58% | 5.08% | -5400.01% |
| Net Income Growth % | 25.62% | -17.52% | 769.14% | 234.52% | 72.45% | -697.18% | 110.32% | -1363.12% | -105.62% | 853.61% | 106.96% | -265.23% | 75.16% | -348.73% | -58.51% | 188.31% | 145.17% | 1250.9% | 76.42% | -158.03% | 253.67% | 76.54% | -22.81% | 171.71% | -49.44% | 0.68% | -17.64% | 50.27% | 248.88% | 163.92% | - |
| Net Income (Continuing) | 1.11B | 745.12M | 847.8M | 97.5M | -36.4M | -87.9M | 54.7M | -358.7M | -22.9M | 510.5M | 61.8M | -795.3M | -261.6M | -890.7M | 371.2M | 428M | 233.13M | 114.12M | -9.92M | -42.06M | 72.39M | 20.49M | 11.61M | 20.02M | 6.32M | 10.95M | 10.87M | 14.12M | 8.79M | 2.52M | -3.94M |
| Discontinued Operations | 0 | 0 | 0 | 6.3M | -16.4M | -167.2M | 4.1M | -39.3M | 3.04M | 0 | 0 | 56.61M | 59.79M | 95.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 92.2M | 54.4M | 64M | 58.1M | 76M | 77.2M | 87.3M | 72.7M | 60M | 55.2M | 49.4M | 42.1M | 45.1M | 41.3M | 76.7M | 54.38M | 57.87M | 23.11M | 14.39M | 8.58M | 3.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.70 | 1.16 | 1.50 | 0.19 | -0.15 | -0.53 | 0.09 | -0.77 | -0.06 | 1.07 | 0.12 | -1.94 | -0.55 | -2.21 | 0.89 | 2.14 | 0.75 | 0.32 | -0.03 | -0.14 | 0.39 | 0.14 | 0.08 | 0.14 | 0.07 | 0.15 | -0.21 | -0.28 | -0.18 | 0.04 | -0.06 |
| EPS Growth % | 22.84% | -22.67% | 689.47% | 226.67% | 71.7% | -688.89% | 111.69% | -1172.73% | -105.65% | 791.67% | 106.19% | -252.73% | 75.11% | -348.31% | -58.41% | 185.33% | 134.38% | 1052.38% | 76% | -135.9% | 178.57% | 75% | -42.86% | 100% | -53.33% | 171.43% | 25% | -55.56% | -528.57% | 171.92% | - |
| EPS (Basic) | - | 1.18 | 1.52 | 0.19 | -0.15 | -0.53 | 0.09 | -0.77 | -0.06 | 1.08 | 0.13 | -1.94 | -0.55 | -2.21 | 0.89 | 2.15 | 0.75 | 0.32 | -0.03 | -0.14 | 0.39 | 0.14 | 0.08 | 0.14 | 0.07 | 0.15 | -0.21 | -0.28 | -0.18 | 0.04 | -0.06 |
| Diluted Shares Outstanding | 594M | 581.7M | 545.9M | 484.6M | 478.6M | 476.5M | 478M | 468M | 466.5M | 467.5M | 423.9M | 389.9M | 376.8M | 376.6M | 376.9M | 376.52M | 373.25M | 354.63M | 295.43M | 293.28M | 187.66M | 147.89M | 145.67M | 142.98M | 90.27M | 72.99M | 72.65M | 75M | 67.5M | 60M | 67.5M |
| Basic Shares Outstanding | 587.6M | 575.1M | 539.8M | 480.6M | 478.6M | 476.5M | 472.6M | 468M | 466.5M | 463M | 420.8M | 389.9M | 376.8M | 376.6M | 376.2M | 374.95M | 371.39M | 352.75M | 295.43M | 293.28M | 186.49M | 146.65M | 145.11M | 142.98M | 90.27M | 72.99M | 72.65M | 75M | 67.5M | 60M | 67.5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 31.94% | 9.65% | 11.32% | 16.91% | - | - | 11.93% | 36.83% | 62.92% | 16.75% | 41.66% | - | - | - | - | - | - |
Geopolitical and operational concentration
As reported in recent financial statements, IAMGOLD achieved a significant revenue growth trajectory, reaching $1.0 billion in 2026Q1, which represents a 115.9% year-over-year increase, largely driven by the successful commercial production ramp-up at the Côté Gold project and favorable gold price environments during this period.
The acceleration in top-line performance suggests a successful transition from a development-heavy profile to a production-oriented model. Investors should monitor whether this growth rate remains sustainable as the Côté Gold asset reaches its full nameplate capacity and the company faces potential depletion at legacy sites.
Based on the company's latest quarterly filings, gross margins have expanded significantly to 55.4% in 2026Q1, reflecting improved operational efficiencies and the realization of economies of scale as the Côté Gold project contributes a larger share of total production relative to higher-cost legacy assets.
This margin expansion appears to indicate a fundamental shift in the company's cost structure, moving away from the thin margins observed in 2023. However, the sustainability of these margins remains contingent on the company's ability to manage inflationary pressures on key inputs like energy and labor.
According to the provided income statement data, operating income has scaled rapidly to $544.7 million in 2026Q1, demonstrating strong operating leverage as SG&A expenses remained tightly controlled at $15.4 million, effectively allowing a greater portion of gross profit to flow directly to the bottom line.
The ability to maintain low overhead while revenue grows suggests disciplined management of corporate costs during a period of intense capital activity. This efficiency warrants further investigation to determine if such lean SG&A levels are sustainable as the company manages a more complex, multi-asset production portfolio.
Analysis of historical income statements reveals that net income has experienced significant volatility, including a notable spike in 2024Q3 to $594.1 million, which appears to be influenced by non-operating items such as asset divestments rather than purely recurring operational performance from core mining activities.
Investors should exercise caution when evaluating EPS trends, as the impact of one-time gains from the sale of non-core assets like Rosebel can obscure the underlying earnings power of the business. A normalized view of earnings is necessary to assess the true cash-generating capability of the current asset base.
While current figures show strong profitability, a critical counter-analysis suggests that the reliance on the Côté Gold ramp-up and the unpredictable security environment in Burkina Faso pose significant risks to margin stability, potentially leading to earnings volatility if operational disruptions occur at these key sites.
Short-term margin gains may be vulnerable to seismic challenges at the Westwood mine or regional instability impacting the Essakane operation. The market may be overestimating the consistency of these margins without fully accounting for the potential for cost overruns or production delays in the coming quarters.
Quick answers to the most common questions about buying IAG stock.
For fiscal year 2025, IAMGOLD Corporation (IAG) reported total revenue of $2.90B. This represents a 3978108.7% increase compared to $0.1M in 1996.
IAMGOLD Corporation (IAG) is profitable, generating $676.0M in net income for the fiscal year ending 2025 with a net profit margin of 23.3%.
IAMGOLD Corporation (IAG) reported an operating income of $1.13B, resulting in an operating profit margin of 38.9%. This margin reflects the operational efficiency of the business before interest and taxes.
IAMGOLD Corporation (IAG) generated $1.20B in gross profit for the year, representing a gross profit margin of 41.2%. This demonstrates the company's core pricing power and production efficiency.