Newmont Corporation (NEM) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Gold
EV/EBITDA
↓
8.66
+8% vs avg
5yr avg: 8.01
30Y Low5.6·High36.6
P/FCF
↓
16.55
↓-81% vs avg
5yr avg: 88.36
30Y Low11.0·High37.9
P/B Ratio
↑
3.55
↑+76% vs avg
5yr avg: 2.01
30Y Low0.6·High4.8
ROE
↑
22.1%
↓+326% vs avg
5yr avg: 5.2%
30Y Low-24%·High22%
Debt/EBITDA
↓
0.04
↓-97% vs avg
5yr avg: 1.12
30Y Low0.0·High6.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NEM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Newmont Corporation trades at 17.0x earnings, 28% below its 5-year average of 23.7x, sitting at the 25th percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a discount of 24%. On a free-cash-flow basis, the stock trades at 16.5x P/FCF, 81% below the 5-year average of 88.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $120.8B | $110.6B | $42.7B | $34.8B | $37.5B | $49.7B | $48.3B | $32.0B | $18.5B | $20.1B | $18.1B |
| Enterprise Value | $113.6B | $103.5B | $48.1B | $41.2B | $40.8B | $51.0B | $49.4B | $36.7B | $19.4B | $20.9B | $20.0B |
| P/E Ratio → | 17.01 | 15.58 | 13.01 | — | — | 42.48 | 17.06 | 11.42 | 54.14 | — | — |
| P/S Ratio | 5.47 | 5.01 | 2.30 | 2.96 | 3.14 | 4.08 | 4.23 | 3.29 | 2.55 | 2.73 | 2.70 |
| P/B Ratio | 3.55 | 3.25 | 1.42 | 1.19 | 1.92 | 2.27 | 2.02 | 1.43 | 1.61 | 1.74 | 1.52 |
| P/FCF | 16.55 | 15.16 | 14.43 | 358.86 | 34.46 | 18.92 | 13.48 | 22.82 | 23.32 | 15.96 | 10.95 |
| P/OCF | 11.69 | 10.71 | 6.72 | 12.60 | 11.65 | 11.61 | 9.89 | 11.17 | 10.15 | 9.45 | 6.50 |
P/E links to full P/E history page with 30-year chart
NEM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Newmont Corporation's enterprise value stands at 8.7x EBITDA, 8% above its 5-year average of 8.0x. The Basic Materials sector median is 11.0x, placing the stock at a 21% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.68 | 2.59 | 3.50 | 3.41 | 4.18 | 4.33 | 3.77 | 2.67 | 2.84 | 2.98 |
| EV / EBITDA | 8.66 | 7.88 | 5.56 | 9.61 | 8.63 | 8.38 | 8.78 | 9.75 | 7.58 | 7.76 | 8.56 |
| EV / EBIT | 10.97 | 9.99 | 9.69 | — | 231.70 | 37.11 | 14.40 | 9.16 | 20.75 | 16.02 | 767.78 |
| EV / FCF | — | 14.17 | 16.24 | 425.19 | 37.45 | 19.42 | 13.81 | 26.15 | 24.40 | 16.60 | 12.08 |
NEM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Newmont Corporation earns an operating margin of 46.9%, significantly above the Basic Materials sector average of 9.2%. Operating margins have expanded from 5.5% to 46.9% over the past 3 years, signaling improving operational efficiency. ROE of 22.1% indicates solid capital efficiency. ROIC of 24.9% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.8% | 49.8% | 34.6% | 9.9% | 17.9% | 19.5% | 31.1% | 20.8% | 21.9% | 22.2% | 19.6% |
| Operating Margin | 46.9% | 46.9% | 31.0% | 5.5% | 13.6% | 15.7% | 26.0% | 15.7% | 16.3% | 16.8% | 13.9% |
| Net Profit Margin | 32.1% | 32.1% | 18.0% | -21.4% | -3.8% | 9.6% | 24.8% | 28.8% | 4.7% | -1.6% | -0.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.1% | 22.1% | 11.3% | -10.3% | -2.2% | 5.1% | 12.2% | 16.5% | 3.0% | -1.0% | -0.2% |
| ROA | 12.5% | 12.5% | 6.0% | -5.4% | -1.2% | 2.8% | 7.0% | 9.2% | 1.6% | -0.5% | -0.1% |
| ROIC | 24.9% | 24.9% | 12.1% | 1.7% | 5.3% | 6.0% | 8.5% | 5.8% | 7.2% | 7.1% | 4.5% |
| ROCE | 20.7% | 20.7% | 11.7% | 1.5% | 4.4% | 5.0% | 7.8% | 5.4% | 6.2% | 6.4% | 4.3% |
NEM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Newmont Corporation carries a Debt/EBITDA ratio of 0.0x, which is very conservative (99% below the sector average of 2.5x). The company holds a net cash position — cash of $7.6B exceeds total debt of $474M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 34.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.30 | 0.32 | 0.31 | 0.29 | 0.28 | 0.31 | 0.37 | 0.35 | 0.39 |
| Debt / EBITDA | 0.04 | 0.04 | 1.04 | 2.20 | 1.30 | 1.04 | 1.19 | 1.84 | 1.66 | 1.51 | 1.98 |
| Net Debt / Equity | — | -0.21 | 0.18 | 0.22 | 0.17 | 0.06 | 0.05 | 0.21 | 0.08 | 0.07 | 0.16 |
| Net Debt / EBITDA | -0.55 | -0.55 | 0.62 | 1.50 | 0.69 | 0.22 | 0.21 | 1.24 | 0.34 | 0.30 | 0.80 |
| Debt / FCF | — | -0.98 | 1.81 | 66.33 | 2.99 | 0.50 | 0.32 | 3.33 | 1.09 | 0.64 | 1.12 |
| Interest Coverage | 34.40 | 34.40 | 12.89 | -7.19 | 0.78 | 5.17 | 11.80 | 12.84 | 4.75 | 5.64 | 0.11 |
Net cash position: cash ($7.6B) exceeds total debt ($474M)
NEM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.72x means Newmont Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.25x to 1.72x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.72 | 1.72 | 1.63 | 1.25 | 2.23 | 2.90 | 2.52 | 2.63 | 2.95 | 3.62 | 2.67 |
| Quick Ratio | 1.46 | 1.46 | 1.34 | 0.81 | 1.63 | 2.23 | 1.99 | 1.86 | 2.21 | 2.65 | 1.88 |
| Cash Ratio | 1.34 | 1.34 | 0.48 | 0.50 | 1.28 | 1.91 | 1.73 | 1.04 | 1.93 | 2.38 | 1.61 |
| Asset Turnover | — | 0.39 | 0.33 | 0.21 | 0.31 | 0.30 | 0.28 | 0.24 | 0.35 | 0.36 | 0.32 |
| Inventory Turnover | 7.34 | 7.34 | 5.56 | 4.01 | 5.59 | 5.49 | 4.40 | 4.22 | 4.28 | 4.22 | 3.90 |
| Days Sales Outstanding | — | 11.20 | 20.77 | 38.03 | 21.08 | 10.09 | 14.35 | 14.00 | 17.39 | 11.76 | 18.71 |
NEM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Newmont Corporation returns 2.8% to shareholders annually — split between a 0.9% dividend yield and 1.9% buyback yield. The payout ratio of 15.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.0% | 2.7% | 4.1% | 4.7% | 3.5% | 1.7% | 2.8% | 1.6% | 0.7% | 0.4% |
| Payout Ratio | 15.6% | 15.6% | 34.2% | — | — | 150.7% | 29.5% | 31.7% | 88.3% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.9% | 6.4% | 7.7% | — | — | 2.4% | 5.9% | 8.8% | 1.8% | — | — |
| FCF Yield | 6.0% | 6.6% | 6.9% | 0.3% | 2.9% | 5.3% | 7.4% | 4.4% | 4.3% | 6.3% | 9.1% |
| Buyback Yield | 1.9% | 2.1% | 2.9% | 0.0% | 0.0% | 1.1% | 1.1% | 1.5% | 0.5% | 0.1% | 0.0% |
| Total Shareholder Yield | 2.8% | 3.1% | 5.6% | 4.1% | 4.7% | 4.6% | 2.8% | 4.3% | 2.2% | 0.7% | 0.4% |
| Shares Outstanding | — | $1.1B | $1.1B | $841M | $795M | $801M | $806M | $737M | $535M | $535M | $531M |
Peer Comparison
Compare NEM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NEMYou | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 AEM | $89B | 20.1 | 10.9 | 20.9 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 KGC | $35B | 14.5 | 7.8 | 13.4 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 AU | $46B | 17.5 | 8.3 | 14.8 | 46.5% | 45.1% | 28.6% | 35.9% | 0.4 |
 GFI | $37B | 30.3 | 14.5 | 52.7 | 42.5% | 40.2% | 24.9% | 24.0% | 1.1 |
 WPM | $57B | 38.1 | 28.9 | 99.1 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 FNV | $43B | 38.4 | 26.4 | — | 73.9% | 71.0% | 16.6% | 16.8% | 0.0 |
 RGLD | $19B | 33.8 | 24.2 | 27.1 | — | 61.9% | 9.0% | 8.9% | 1.1 |
 EGO | $6B | 11.7 | 6.0 | — | 44.9% | 41.5% | 12.6% | 13.3% | 1.2 |
 IAG | $10B | 14.0 | 6.4 | 12.4 | 41.2% | 38.9% | 17.7% | 19.1% | 0.5 |
 HL | $11B | 34.8 | 16.3 | 36.9 | 41.1% | 37.5% | 13.9% | 15.3% | 0.4 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full NEM Stock Analysis
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Start ComparisonNEM — Frequently Asked Questions
Quick answers to the most common questions about buying NEM stock.
What is Newmont Corporation's P/E ratio?
Newmont Corporation's current P/E ratio is 17.0x. The historical average is 37.3x. This places it at the 25th percentile of its historical range.
What is Newmont Corporation's EV/EBITDA?
Newmont Corporation's current EV/EBITDA is 8.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
What is Newmont Corporation's ROE?
Newmont Corporation's return on equity (ROE) is 22.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 3.2%.
Is NEM stock overvalued?
Based on historical data, Newmont Corporation is trading at a P/E of 17.0x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Newmont Corporation's dividend yield?
Newmont Corporation's current dividend yield is 0.92% with a payout ratio of 15.6%.
What are Newmont Corporation's profit margins?
Newmont Corporation has 49.8% gross margin and 46.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Newmont Corporation have?
Newmont Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.