# Newmont Corporation (NEM) — Stock CV

Newmont Corporation is a $124B materials company. Revenue grew 25.2% over the last year, it keeps 33¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 14.4× earnings — in the cheapest third of its own history.

> Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023.

## Identity

- **Ticker**: NEM
- **Sector**: Basic Materials
- **Industry**: Gold And Silver Ores
- **Headquarters**: DENVER, CO
- **Employees**: 17 500
- **Website**: https://www.newmont.com
- **Market cap**: $124B
- **Last price**: $117.85
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $25.8B
- **Net income**: $8.60B
- **Free cash flow**: $9.73B
- **Net cash**: $3.13B
- **P/E**: 14.4
- **Revenue growth (YoY)**: 25.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 85 |
| Growth | 85 |
| Profitability | 95 |
| Health | 100 |
| Quality | 81 |
| Moat | 25 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +25.2% YoY
- [x] Profitable — $8.60B TTM
- [x] Profit growing — +12.8% YoY
- [x] Generates cash — $9.73B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $124B market cap
- [ ] Not printing shares — +37.5% shares over ~5y
- [x] Proven track record — 5/10 profitable years
- [x] Financially stable — Altman Z 4.4 — safe
- [x] Pays a dividend — yield 0.89%
- [x] Valuation not extreme — P/E 14.4

## Experience (career milestones)

- **FY2025** — Best year on record: $7.08B net income
- **2025** — Newmont completed the integration of Newcrest Mining following its US$17 billion acquisition finalized in…
- **FY2024** — Turned profitable: $3.35B net income after a loss year
- **2023** — Newmont acquired Newcrest Mining for US$16.8 billion
- **FY2020** — Revenue crossed $10B: $11.5B for the year
- **FY2019** — Revenue crossed $1B: $9.74B for the year
- **FY2019** — Positive free cash flow every year since: 7-year streak
- **2019** — The Newmont Corporation bought Canadian mining company Goldcorp in 2019 for US$10 billion
- **FY2018** — Became debt-free: cash now exceeds total debt
- **2011** — The company acquired Canada's Fronteer Gold Inc. for CA$2.3 billion
- **2009** — Newmont purchased the remaining one-third interest in Boddington Gold Mine from AngloGold Ashanti, bringing…
- **2002** — Newmont completed the acquisition of Normandy Mining and Franco-Nevada
- **Jun 21, 2000** — Newmont announced a merger with Battle Mountain Gold
- **1929** — Newmont became a mining company with its first gold product by acquiring California's Empire Star Mine
- **1925** — Beginning in 1925, Newmont acquired interests in a Texas oil field
- **1921** — Incorporated in 1921, it holds ownership of gold mines in the United States, Canada, Mexico, the Dominican Republic,…

## Strengths

- High gross margin (68.9%)
- Strongly profitable — 33.4% net margin
- Revenue growing 25.2% year over year
- Strong cash conversion — FCF is 37.8% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.2B | $1.17B | $2.63B |
| FY2022 | $11.9B | -$429M | $1.09B |
| FY2023 | $11.8B | -$2.49B | $97.0M |
| FY2024 | $18.7B | $3.35B | $2.96B |
| FY2025 | $22.7B | $7.08B | $7.30B |

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Source: https://stockcv.com/NEM — derived from company filings; may be delayed or incomplete. Information, not investment advice.