Current Ratio
since 2005
Calculation
Newmont Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1.25 | = | 7,512) | ÷ | 5,998) |
| Dec 31, 2022 | 2.23 | = | 6,515) | ÷ | 2,926) |
| Dec 31, 2021 | 2.90 | = | 7,696) | ÷ | 2,654) |
| Dec 31, 2020 | 2.52 | = | 8,505) | ÷ | 3,369) |
| Dec 31, 2019 | 2.63 | = | 6,272) | ÷ | 2,385) |
| Dec 31, 2018 | 2.95 | = | 5,277) | ÷ | 1,787) |
| Dec 31, 2017 | 3.63 | = | 5,066) | ÷ | 1,395) |
| Dec 31, 2016 | 2.67 | = | 4,677) | ÷ | 1,750) |
| Dec 31, 2015 | 3.52 | = | 4,983) | ÷ | 1,416) |
| Dec 31, 2014 | 2.47 | = | 5,439) | ÷ | 2,198) |
| Dec 31, 2013 | 1.78 | = | 4,874) | ÷ | 2,740) |
| Dec 31, 2012 | 1.89 | = | 5,945) | ÷ | 3,141) |
| Dec 31, 2011 | 1.37 | = | 5,388) | ÷ | 3,940) |
| Dec 31, 2010 | 2.64 | = | 7,253) | ÷ | 2,747) |
| Dec 31, 2009 | 2.51 | = | 5,822) | ÷ | 2,320) |
| Dec 31, 2008 | 1.48 | = | 2,361) | ÷ | 1,596) |
| Dec 31, 2007 | 1.78 | = | 2,672) | ÷ | 1,500) |
| Dec 31, 2006 | 1.52 | = | 2,642) | ÷ | 1,739) |
| Dec 31, 2005 | 2.25 | = | 3,036) | ÷ | 1,350) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile from 2005 to 2023 is characterized by significant volatility, although the current ratio remained above 1.0 throughout the entire period. The trajectory of short-term solvency suggests three distinct phases: an initial period of fluctuation, a prolonged era of high liquidity, and a recent sharp compression of the ratio.
- Asset and Liability Dynamics
- Current assets exhibited a general upward trend, increasing from 3,036 million USD in 2005 to a peak of 8,505 million USD in 2020. Current liabilities remained relatively stable, fluctuating between 1,350 million USD and 3,940 million USD for the majority of the period, until a substantial increase occurred in 2023, where liabilities reached a period high of 5,998 million USD.
- Liquidity Peaks and Trends
- The current ratio reached its highest levels between 2014 and 2017, peaking at 3.63 in 2017. This indicates a period of significant liquidity surplus where short-term assets substantially exceeded short-term obligations. A secondary peak occurred in 2010 at 2.64, following a period of relative instability between 2006 and 2008.
- Recent Solvency Contraction
- A marked decline in the current ratio is observed in 2023, dropping to 1.25. This represents the lowest liquidity level since 2011. The contraction is attributed to the sharp rise in current liabilities to 5,998 million USD, which offset the available current assets of 7,512 million USD, thereby narrowing the margin of safety for short-term debt coverage.
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Comparison to Competitors
Newmont Corp., current ratio, long-term trends, comparison to competitors
| Newmont Corp. | Freeport-McMoRan Inc. | |
|---|---|---|
| Dec 31, 2023 | 1.25 | 2.42 |
| Dec 31, 2022 | 2.23 | 2.46 |
| Dec 31, 2021 | 2.90 | 2.52 |
| Dec 31, 2020 | 2.52 | 2.72 |
| Dec 31, 2019 | 2.63 | 2.47 |
| Dec 31, 2018 | 2.95 | 3.22 |
| Dec 31, 2017 | 3.63 | 2.14 |
| Dec 31, 2016 | 2.67 | 2.45 |
| Dec 31, 2015 | 3.52 | 1.73 |
| Dec 31, 2014 | 2.47 | 1.75 |
| Dec 31, 2013 | 1.78 | 2.09 |
| Dec 31, 2012 | 1.89 | 3.08 |
| Dec 31, 2011 | 1.37 | 3.42 |
| Dec 31, 2010 | 2.64 | 2.62 |
| Dec 31, 2009 | 2.51 | 2.48 |
| Dec 31, 2008 | 1.48 | 1.66 |
| Dec 31, 2007 | 1.78 | 1.53 |
| Dec 31, 2006 | 1.52 | 2.21 |
| Dec 31, 2005 | 2.25 | 1.48 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Newmont Corp., current ratio, long-term trends, comparison to industry (materials)
| Newmont Corp. | Materials | |
|---|---|---|
| Dec 31, 2023 | 1.25 | 1.14 |
| Dec 31, 2022 | 2.23 | 1.20 |
| Dec 31, 2021 | 2.90 | 1.19 |
| Dec 31, 2020 | 2.52 | 1.14 |
| Dec 31, 2019 | 2.63 | 1.15 |
| Dec 31, 2018 | 2.95 | 1.57 |
| Dec 31, 2017 | 3.63 | 1.50 |
| Dec 31, 2016 | 2.67 | 1.77 |
| Dec 31, 2015 | 3.52 | 1.53 |
| Dec 31, 2014 | 2.47 | 1.40 |
| Dec 31, 2013 | 1.78 | 1.61 |
| Dec 31, 2012 | 1.89 | 2.11 |
| Dec 31, 2011 | 1.37 | 1.95 |
| Dec 31, 2010 | 2.64 | 1.82 |
| Dec 31, 2009 | 2.51 | 1.84 |
| Dec 31, 2008 | 1.48 | 1.17 |
| Dec 31, 2007 | 1.78 | 1.20 |
| Dec 31, 2006 | 1.52 | 1.39 |
| Dec 31, 2005 | 2.25 | 1.23 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).