Newmont CorporationNEM
NYSE•Basic Materials•Gold
Newmont Corporation operates as a gold producer. It also explores for copper, silver, lead, zinc, and other metals. It has operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada. The company was founded in 1916 and is headquartered in Denver, Colorado.
Newmont Corporation (NEM) reported trailing twelve months revenue of $24.97B as of March 2026, a 26.9% increase year-over-year. Quarterly revenue reached $7.31B, reflecting continued top-line momentum.
Newmont Corporation generated $8.46B in TTM net income, with quarterly EBITDA of $5.21B. The operating margin expanded from 49.3% to 62.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (62.7%) and net margin (44.6%) indicates significant non-operating expenses or interest burden. Net margin has improved from 37.7% a year ago, signaling stronger bottom-line efficiency.
NEM trades at a P/E of 13.9x (below the broader market average) and a P/S of 4.7x. The price-to-book ratio of 3.4x reflects a moderate premium to book value.
The company generated $3.14B in free cash flow over the trailing twelve months, a 160.9% increase year-over-year, indicating cash generation ability. The balance sheet shows $57.67B in total assets with $5.08B in long-term debt against $35.10B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~43.3%, suggesting durable pricing power and cost discipline.
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~67.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~53.6% — no sign of cost or pricing stress.
FCF covers net income by 1.0x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 5.9% — net buybacks are reducing shares outstanding and boosting per-share value.