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.

Total Asset Turnover
since 2005

Microsoft Excel

Calculation

Newmont Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Sales1 ÷ Total assets1
Dec 31, 2023 0.21 = 11,812 ÷ 55,506
Dec 31, 2022 0.31 = 11,915 ÷ 38,482
Dec 31, 2021 0.30 = 12,222 ÷ 40,564
Dec 31, 2020 0.28 = 11,497 ÷ 41,369
Dec 31, 2019 0.24 = 9,740 ÷ 39,974
Dec 31, 2018 0.35 = 7,253 ÷ 20,715
Dec 31, 2017 0.36 = 7,348 ÷ 20,563
Dec 31, 2016 0.32 = 6,711 ÷ 21,031
Dec 31, 2015 0.31 = 7,729 ÷ 25,182
Dec 31, 2014 0.29 = 7,292 ÷ 24,916
Dec 31, 2013 0.34 = 8,322 ÷ 24,764
Dec 31, 2012 0.33 = 9,868 ÷ 29,650
Dec 31, 2011 0.38 = 10,358 ÷ 27,474
Dec 31, 2010 0.37 = 9,540 ÷ 25,663
Dec 31, 2009 0.35 = 7,705 ÷ 22,299
Dec 31, 2008 0.39 = 6,199 ÷ 15,839
Dec 31, 2007 0.35 = 5,526 ÷ 15,598
Dec 31, 2006 0.32 = 4,987 ÷ 15,601
Dec 31, 2005 0.31 = 4,406 ÷ 13,992

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 total asset turnover ratio exhibits a long-term trend of declining efficiency in asset utilization, characterized by periodic fluctuations and sharp contractions following significant expansions of the asset base.

Initial Phase of Efficiency Gains (2005–2011)
An upward trend in asset productivity is observed during this period, with the turnover ratio increasing from 0.31 in 2005 to a peak of 0.39 in 2008. This improvement was driven by sales growth that outpaced the expansion of total assets, suggesting an optimized use of resources to generate revenue.
Period of Moderate Volatility (2012–2018)
The ratio remained relatively stable but volatile, fluctuating between 0.29 and 0.36. A notable dip to 0.29 occurred in 2014, correlating with a period of declining sales. However, the ratio recovered to 0.36 by 2017, indicating a temporary realignment between the company's asset scale and its revenue-generating capacity.
Impact of Large-Scale Asset Expansion (2019–2023)
A significant deterioration in the turnover ratio is evident starting in 2019, coinciding with a sharp increase in total assets from approximately 20.7 billion to 39.9 billion. This expansion led to a drop in the ratio to 0.24. Although a recovery to 0.31 was achieved by 2022, a further substantial increase in total assets to 55.5 billion in 2023 resulted in a record low turnover ratio of 0.21. This pattern demonstrates that recent asset growth has significantly outstripped revenue growth, leading to reduced operational efficiency per unit of asset.

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Comparison to Competitors

Newmont Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Newmont Corp. Freeport-McMoRan Inc.
Dec 31, 2023 0.21 0.44
Dec 31, 2022 0.31 0.45
Dec 31, 2021 0.30 0.48
Dec 31, 2020 0.28 0.34
Dec 31, 2019 0.24 0.35
Dec 31, 2018 0.35 0.44
Dec 31, 2017 0.36 0.44
Dec 31, 2016 0.32 0.40
Dec 31, 2015 0.31 0.34
Dec 31, 2014 0.29 0.36
Dec 31, 2013 0.34 0.33
Dec 31, 2012 0.33 0.51
Dec 31, 2011 0.38 0.65
Dec 31, 2010 0.37 0.65
Dec 31, 2009 0.35 0.58
Dec 31, 2008 0.39 0.76
Dec 31, 2007 0.35 0.42
Dec 31, 2006 0.32 1.07
Dec 31, 2005 0.31 0.75

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., total asset turnover, long-term trends, comparison to industry (materials)

Microsoft Excel
Newmont Corp. Materials
Dec 31, 2023 0.21 0.50
Dec 31, 2022 0.31 0.51
Dec 31, 2021 0.30 0.49
Dec 31, 2020 0.28 0.40
Dec 31, 2019 0.24 0.41
Dec 31, 2018 0.35 0.33
Dec 31, 2017 0.36 0.55
Dec 31, 2016 0.32 0.59
Dec 31, 2015 0.31 0.54
Dec 31, 2014 0.29 0.53
Dec 31, 2013 0.34 0.48
Dec 31, 2012 0.33 0.65
Dec 31, 2011 0.38 0.76
Dec 31, 2010 0.37 0.74
Dec 31, 2009 0.35 0.70
Dec 31, 2008 0.39 0.90
Dec 31, 2007 0.35 0.58
Dec 31, 2006 0.32 1.02
Dec 31, 2005 0.31 0.93

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).