Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

$22.49

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

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Newmont Corp., debt to equity, long-term trends, calculation

Microsoft Excel

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


Debt, finance lease and other financing obligations
The debt level exhibited a general increasing trend from 2005 through 2013, rising from $1,929 million to a peak of $6,740 million in 2013. After this peak, debt decreased steadily until 2017, reaching $4,065 million. Subsequently, debt increased again, reaching $6,834 million in 2019 despite a slight dip in 2018. From 2019 to 2022, debt gradually declined from $6,834 million to $6,132 million. However, in 2023, there was a notable surge, with debt rising sharply to $9,436 million, marking the highest value over the entire period.
Newmont stockholders’ equity
Stockholders’ equity experienced fluctuations with an initial rise from $8,376 million in 2005 to $13,345 million in 2010, followed by a period of decline and volatility between 2010 and 2014, decreasing to approximately $10,141 million in 2013. Between 2014 and 2018, equity remained relatively stable around the $10,000-$11,000 million range. A pronounced increase occurred from 2018 onwards, with stockholders’ equity more than doubling to a peak of $23,008 million in 2020. This was followed by a modest decline in 2021 and 2022, with equity around $19,354 million in 2022, before rising again sharply to $29,027 million in 2023, the highest level recorded.
Debt to equity ratio
The debt to equity ratio displayed considerable variability over the period. It began at a low of 0.20 in 2006, increased sharply to peak values of 0.66 and 0.65 in 2013 and 2014 respectively, indicating a period of higher leverage. Following these peaks, the ratio declined steadily to a low of 0.29 in 2020 and 2021, suggesting deleveraging alongside equity growth. Despite these lower levels, the ratio remained relatively stable around 0.30 from 2018 through 2022. In 2023, despite the increase in debt and equity, the ratio rose slightly to 0.33, indicating a modest increase in leverage but remaining below earlier peaks.
Summary
Overall, the financial data reflects cycles of debt accumulation and reduction, coupled with equity fluctuations. The period from 2005 to around 2013 saw escalating debt and equity growth with increasing leverage. From 2014 to 2018, the firm reduced leverage and maintained stable equity levels. Post-2018 data points to significant growth in equity accompanied by increased debt levels, culminating in the highest values of both debt and equity in 2023. Despite these increases, the debt to equity ratio remains moderate, suggesting a balanced approach to financing with an emphasis on equity growth to support higher debt levels.

Comparison to Competitors


Comparison to Industry (Materials)