Company Overview
Newmont Corporation is a metals and mining company focused on producing gold. Its operations center on extracting and selling mined output, translating production into commodity-linked revenue. The company operates at large scale, with a market value that places it among the bigger names in its space. For investors, the business is ultimately anchored in the durability of its asset base and the discipline required to keep replacing what gets mined.
Analysis of recent data
FundamentalsFor 2025, reported in USD, revenue reached about USD 22.7 billion, alongside net income of roughly USD 7.2 billion. Over the same period, revenue grew 21.3% year over year, with trailing profitability showing a 64.33% gross margin, a 47.91% operating margin, and a 31.25% net margin.
Spending and reinvestment remained meaningful, with depreciation and amortization of about USD 2.5 billion and capital expenditures of around USD 3.0 billion. The balance-sheet cash position stood at roughly USD 7.6 billion, while trailing ROE came in at 21.72%.
Valuation
DCF / MultiplesThe current price of USD 102.10 sits below the DCF-derived fair value range, even under a weaker outcome, and remains below the central and stronger outcomes as well. Against that valuation setup, headline multiples like 15.68x trailing earnings and 8.12x EV/EBITDA indicate a market price that reflects caution about the durability of current economics.
Conclusion
TakeawayThe price looks like it’s discounting fragile durability. The case works if margins and reinvestment discipline hold up. It also needs cash to stay available for ongoing asset spending. The main risk is that profits fade faster than spending can adjust. If durability proves better than feared, the stock looks mispriced.