Stock Analysis on Net
Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Common-Size Balance Sheet: Assets

Newmont Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents 5.41 7.48 12.31 13.39 5.61
Time deposits and other investments 0.04 2.29 0.20 0.70 0.59
Trade receivables 1.32 0.95 0.83 1.09 0.93
Inventories 3.00 2.54 2.29 2.33 2.54
Stockpiles and ore on leach pads 1.76 2.01 2.11 2.00 2.03
Other receivables 0.89 0.84 0.00 0.00 0.00
Derivative assets 0.36 0.03 0.00 0.00 0.00
Other current assets 0.76 0.79 1.23 1.05 1.43
Current assets held for sale 0.00 0.00 0.00 0.00 2.56
Current assets 13.53% 16.93% 18.97% 20.56% 15.69%
Property, plant and mine development, net 67.67 62.56 59.47 58.69 63.23
Investments 7.46 8.52 7.99 7.73 8.00
Stockpiles and ore on leach pads 3.49 4.46 4.38 4.12 3.71
Deferred income tax assets 0.48 0.45 0.66 0.81 1.37
Goodwill 5.41 5.12 6.83 6.70 6.69
Derivative assets 0.80 0.51 0.00 0.00 0.00
Other non-current assets 1.15 1.46 1.69 1.39 1.30
Non-current assets 86.47% 83.07% 81.03% 79.44% 84.31%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

The asset composition of the organization demonstrates a strategic shift toward increased capital intensity and a reduction in liquid reserves over the five-year period ending December 31, 2023. While current assets peaked in 2020, there has been a consistent downward trend in liquidity, coinciding with a steady increase in the proportion of non-current assets.

Liquidity and Current Asset Trends
Current assets as a percentage of total assets peaked at 20.56% in 2020 before declining to 13.53% by 2023, the lowest level in the analyzed period. This decline is primarily driven by cash and cash equivalents, which surged to 13.39% in 2020 and 12.31% in 2021, only to retreat to 5.41% by 2023. This pattern suggests a period of significant liquidity accumulation followed by a phase of capital deployment or debt reduction.
Fixed Asset Concentration
Property, plant and mine development, net, represents the largest component of the balance sheet. After a decline to 58.69% in 2020, this item has grown consistently, reaching 67.67% of total assets by 2023. This upward trajectory indicates an increasing concentration of value in long-term operational infrastructure and mining development.
Non-Current Asset Evolution
Total non-current assets have increased from 84.31% in 2019 to 86.47% in 2023. While goodwill has seen a gradual reduction from 6.69% to 5.41%, the overall growth in non-current assets is sustained by the expansion of fixed assets. Investments have remained relatively stable, fluctuating within a narrow band between 7.46% and 8.52% of total assets.
Operational Asset Stability
Inventories and stockpiles have remained remarkably stable as a percentage of total assets. Inventories fluctuated between 2.29% and 3.00%, while stockpiles and ore on leach pads—combined across current and non-current classifications—consistently represent approximately 5% to 6% of the total asset base, suggesting a consistent operational cycle relative to the total size of the company.

Overall, the balance sheet reflects a transition from a highly liquid position in 2020-2021 to a more asset-heavy structure by 2023, characterized by a higher reliance on long-term mining infrastructure and a leaner cash position.

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