New Gold Inc. (NGD) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Cash from Operations | 326.8M | 280.77M | 165.5M | 107.5M | 106.04M | 111.36M | 100.4M | 54.7M | 70.6M | 83.61M | 56.4M | 60.6M | 33.04M | 35.75M | 34.28M | 67.8M | 105.7M | 54.3M | 110.3M | 53.3M |
| Operating CF Margin % | 65.87% | 62.55% | 53.66% | 51.41% | 40.44% | 44.19% | 46.01% | 28.47% | 35.44% | 41.53% | 30.59% | 30.06% | 20.29% | 23.64% | 29.63% | 38.81% | 52.17% | 30.2% | 55.65% | 32.32% |
| Operating CF Growth % | 208.2% | 152.11% | 64.84% | 96.53% | 50.19% | 33.19% | 78.01% | -9.74% | 113.7% | 133.89% | 64.54% | -10.62% | -68.74% | -34.17% | -68.92% | 27.2% | 17.07% | -37.5% | 108.9% | 3.9% |
| Net Income | 663.7M | 140.72M | 69.73M | -16.65M | 53.55M | 38.2M | 53.1M | -43.5M | -27.4M | -2.67M | -2.6M | -31.8M | -16.93M | -3.96M | -37.58M | -7.8M | 150.9M | -11.3M | -15.8M | 15.1M |
| Depreciation & Amortization | 44M | 70.31M | 68.41M | 58.52M | 56.17M | 60.28M | 70M | 62.7M | 0 | 59.73M | 0 | 56.4M | 53.48M | 53.33M | 40.15M | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | -700K | 0 | 0 | 6M | 0 | 0 | 100K | 100K | 200K | 0 | 200K | 300K | 0 | 0 | 0 | 400K | 500K | 300K | 500K | 200K |
| Deferred Taxes | 22.6M | 25.87M | 1.93M | 2.8M | 8.04M | -2.51M | -30.1M | 3M | -3.4M | 6.74M | 800K | 300K | 10.66M | -12.43M | -986.29K | 500K | 5.9M | 6.4M | 5.2M | 3.9M |
| Other Non-Cash Items | -446.9M | 39.69M | 23.69M | 39.33M | 3.61M | 7.46M | -2.7M | 50.2M | 95.5M | 7.49M | 66.8M | 50.5M | -2.56M | -10.64M | 22.8M | 73.3M | -64.4M | 85.9M | 94.8M | 44.5M |
| Working Capital Changes | 44.1M | 4.16M | 1.74M | 17.5M | -15.33M | 7.93M | 10M | -17.8M | 5.7M | 12.31M | -8.8M | -15.1M | -11.61M | 9.46M | 9.88M | 1.4M | 12.8M | -27M | 25.6M | -10.4M |
| Change in Receivables | 16.7M | -3.41M | -14.65M | 13.9M | -8.57M | -803.24K | -2.4M | 3.4M | -3.6M | 2.78M | -2.7M | -600.04K | -9.61M | 3.09M | 8.96M | -5.8M | 9.4M | -300K | 5.2M | -4.8M |
| Change in Inventory | -11.4M | -17.15M | -6.28M | 3.5M | 777.3K | -3.01M | 7.6M | -2.6M | 3.4M | 2.49M | -7.5M | -4.9M | -8.74M | 5.82M | -17.66M | 4.5M | 3.8M | -8.7M | 1.8M | -1.7M |
| Change in Payables | 0 | 23.01M | 20.03M | -8.57M | 4.42M | 11.45M | 0 | 0 | 0 | 13.09M | 0 | -9.3M | 7.83M | -962.99K | 15.22M | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -66.1M | -68.18M | -383.72M | -74.1M | -72.55M | -62.76M | -70.2M | -59M | -58.8M | -69.92M | -68.6M | -37.9M | -71.36M | -53.76M | -75.67M | -81.5M | 240.9M | -15.6M | -90.7M | -77.1M |
| Capital Expenditures | -67.5M | -74.71M | -383.72M | -75.2M | -73.22M | -62.76M | -72.2M | -61.1M | -60.6M | -69.91M | -71.6M | -63.1M | -71.56M | -66.04M | -75.45M | -78.2M | -58.1M | -55.4M | -80M | -53.8M |
| CapEx % of Revenue | 13.61% | 16.64% | 124.42% | 35.96% | 27.93% | 24.91% | 33.09% | 31.81% | 30.42% | 34.73% | 38.83% | 31.3% | 43.95% | 43.68% | 65.21% | 44.76% | 28.68% | 30.81% | 40.36% | 32.63% |
| Acquisitions | 0 | 0 | 0 | 0 | 667.96K | 11 | 0 | 0 | 0 | -16.88K | 0 | 23.4M | -2.48M | 466.8K | 296.64K | 0 | 0 | 39.4M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 1.4M | 0 | 0 | 1.1M | 0 | 0 | 2M | 2.1M | 1.9M | 0 | 2.8M | 1.8M | 177.93K | 14.26M | -10.38K | 300K | 300.7M | -39M | 400K | 200K |
| Cash from Financing | -54.3M | -315.92M | 228.3M | 74.3M | -58.64M | -100.71M | -2.3M | -24.1M | -6.4M | -7.82M | -10.9M | -25.9M | -9.9M | -8.48M | -108.9M | -36.8M | -15.7M | -25.6M | -13.1M | -32.1M |
| Debt Issued (Net) | -1.1M | -151.77M | 155.26M | 101.2M | -47.21M | -50.2M | 99.5M | -1.3M | -1.6M | -1.4M | -3.9M | -2.4M | -1.41M | -825.7K | -100.33M | -2.5M | -2.4M | -2.6M | -2.7M | -2.7M |
| Equity Issued (Net) | 0 | -29.5M | 104.23M | 99.7K | 2.54M | 611.32K | 164.6M | 0 | 3.5M | 98.15K | 0 | 0 | 12.51K | 7.31K | 692.04K | 200K | 100K | 0 | 100K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -53.2M | -134.65M | -31.18M | -27M | -13.98M | -51.12M | -266.4M | -22.8M | -8.3M | -6.52M | -7M | -23.5M | -8.5M | -7.66M | -9.27M | -34.5M | -13.4M | -23M | -10.5M | -29.4M |
| Net Change in Cash | 206.8M | -103.12M | 13.49M | 107.6M | -27.25M | -51.98M | 27.7M | -28.8M | 6.1M | 4.44M | -22.9M | -3.5M | -44.53M | -32.4M | -153.1M | -50M | 330.6M | 12.5M | 7.2M | -55.1M |
| Free Cash Flow | 259.3M | 206.05M | -218.22M | 32.3M | 32.81M | 48.6M | 28.2M | -6.4M | 10M | 13.7M | -15.2M | -2.5M | -38.52M | -30.29M | -41.17M | -10.4M | 47.6M | -1.1M | 30.3M | -500K |
| FCF Margin % | 52.27% | 45.91% | -70.76% | 15.45% | 12.51% | 19.29% | 12.92% | -3.33% | 5.02% | 6.81% | -8.24% | -1.24% | -23.66% | -20.03% | -35.59% | -5.95% | 23.49% | -0.61% | 15.29% | -0.3% |
| FCF Growth % | 690.22% | 323.98% | -873.82% | 604.69% | 228.14% | 254.67% | 285.53% | -156% | 125.96% | 145.24% | 63.08% | 75.96% | -180.92% | -2653.55% | -235.89% | -1980% | 302.38% | -103.91% | 1065.38% | 96.43% |
| FCF per Share | 0.33 | 0.26 | -0.27 | 0.04 | 0.04 | 0.06 | 0.04 | -0.01 | 0.01 | 0.02 | -0.02 | -0.00 | -0.06 | -0.04 | -0.06 | -0.02 | 0.07 | -0.00 | 0.04 | -0.00 |
| FCF Conversion (FCF/Net Income) | 0.49x | 2.00x | 2.41x | -6.44x | 1.92x | 2.94x | 1.89x | -1.26x | -2.58x | -30.97x | -21.69x | -1.91x | -1.95x | -8.51x | -0.90x | -8.69x | 0.70x | -4.81x | -6.98x | 3.53x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |