Stock Analysis on Net
Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

This company was transferred to the archive: financial data is no longer updated!

Analysis of Solvency Ratios

Microsoft Excel LibreOffice Calc

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

Newmont Corp., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Debt Ratios
Debt to equity 0.29 0.32 0.41 0.38 0.43
Debt to equity (including operating lease liability) 0.30 0.32 0.41 0.38 0.43
Debt to capital 0.23 0.24 0.29 0.28 0.30
Debt to capital (including operating lease liability) 0.23 0.24 0.29 0.28 0.30
Debt to assets 0.16 0.17 0.21 0.20 0.22
Debt to assets (including operating lease liability) 0.16 0.17 0.21 0.20 0.22
Financial leverage 1.80 1.87 1.97 1.94 1.96
Coverage Ratios
Interest coverage 11.82 13.58 4.41 5.46 0.17
Fixed charge coverage 11.13 12.73 3.73 4.79 0.28

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Newmont Corp.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Newmont Corp.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Newmont Corp.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Newmont Corp.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Newmont Corp.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Newmont Corp.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Newmont Corp.’s financial leverage ratio decreased from 2018 to 2019 and from 2019 to 2020.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Newmont Corp.’s interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Newmont Corp.’s fixed charge coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Debt to Equity

Newmont Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
 
Total Newmont stockholders’ equity 23,008  21,420  10,502  10,609  10,721 
Solvency Ratio
Debt to equity1 0.29 0.32 0.41 0.38 0.43
Benchmarks
Debt to Equity, Industry
Materials 0.55 0.47 0.50 1.55 1.32

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to equity = Total debt ÷ Total Newmont stockholders’ equity
= 6,702 ÷ 23,008 = 0.29

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Newmont Corp.’s debt to equity ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Equity (including Operating Lease Liability)

Newmont Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
Current operating leases 17  28  —  —  — 
Non-current operating leases 91  47  —  —  — 
Total debt (including operating lease liability) 6,810  6,909  4,261  4,065  4,615 
 
Total Newmont stockholders’ equity 23,008  21,420  10,502  10,609  10,721 
Solvency Ratio
Debt to equity (including operating lease liability)1 0.30 0.32 0.41 0.38 0.43
Benchmarks
Debt to Equity (including Operating Lease Liability), Industry
Materials 0.60 0.52 0.50 1.55 1.32

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Newmont stockholders’ equity
= 6,810 ÷ 23,008 = 0.30

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Newmont Corp.’s debt to equity ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Debt to Capital

Newmont Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
Total Newmont stockholders’ equity 23,008  21,420  10,502  10,609  10,721 
Total capital 29,710  28,254  14,763  14,674  15,336 
Solvency Ratio
Debt to capital1 0.23 0.24 0.29 0.28 0.30
Benchmarks
Debt to Capital, Industry
Materials 0.35 0.32 0.33 0.61 0.57

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,702 ÷ 29,710 = 0.23

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Newmont Corp.’s debt to capital ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Capital (including Operating Lease Liability)

Newmont Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
Current operating leases 17  28  —  —  — 
Non-current operating leases 91  47  —  —  — 
Total debt (including operating lease liability) 6,810  6,909  4,261  4,065  4,615 
Total Newmont stockholders’ equity 23,008  21,420  10,502  10,609  10,721 
Total capital (including operating lease liability) 29,818  28,329  14,763  14,674  15,336 
Solvency Ratio
Debt to capital (including operating lease liability)1 0.23 0.24 0.29 0.28 0.30
Benchmarks
Debt to Capital (including Operating Lease Liability), Industry
Materials 0.38 0.34 0.33 0.61 0.57

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 6,810 ÷ 29,818 = 0.23

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Newmont Corp.’s debt to capital ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets

Newmont Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
 
Total assets 41,369  39,974  20,715  20,563  21,031 
Solvency Ratio
Debt to assets1 0.16 0.17 0.21 0.20 0.22
Benchmarks
Debt to Assets, Industry
Materials 0.25 0.23 0.24 0.44 0.41

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 6,702 ÷ 41,369 = 0.16

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Newmont Corp.’s debt to assets ratio improved from 2018 to 2019 and from 2019 to 2020.

Debt to Assets (including Operating Lease Liability)

Newmont Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Current lease and other financing obligations 106  100  27  4  — 
Current debt 551  —  626  —  566 
Non-current debt 5,480  6,138  3,418  4,040  4,049 
Non-current lease and other financing obligations 565  596  190  21  — 
Total debt 6,702  6,834  4,261  4,065  4,615 
Current operating leases 17  28  —  —  — 
Non-current operating leases 91  47  —  —  — 
Total debt (including operating lease liability) 6,810  6,909  4,261  4,065  4,615 
 
Total assets 41,369  39,974  20,715  20,563  21,031 
Solvency Ratio
Debt to assets (including operating lease liability)1 0.16 0.17 0.21 0.20 0.22
Benchmarks
Debt to Assets (including Operating Lease Liability), Industry
Materials 0.27 0.25 0.24 0.44 0.41

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 6,810 ÷ 41,369 = 0.16

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Newmont Corp.’s debt to assets ratio (including operating lease liability) improved from 2018 to 2019 and from 2019 to 2020.

Financial Leverage

Newmont Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Total assets 41,369  39,974  20,715  20,563  21,031 
Total Newmont stockholders’ equity 23,008  21,420  10,502  10,609  10,721 
Solvency Ratio
Financial leverage1 1.80 1.87 1.97 1.94 1.96
Benchmarks
Financial Leverage, Industry
Materials 2.22 2.07 2.09 3.48 3.22

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Financial leverage = Total assets ÷ Total Newmont stockholders’ equity
= 41,369 ÷ 23,008 = 1.80

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Newmont Corp.’s financial leverage ratio decreased from 2018 to 2019 and from 2019 to 2020.

Interest Coverage

Newmont Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Newmont stockholders 2,829  2,805  341  (98) (627)
Add: Net income attributable to noncontrolling interest (38) 79  39  11  (296)
Less: Net income (loss) from discontinued operations 163  (72) 61  (38) (133)
Add: Income tax expense 704  832  386  1,125  563 
Add: Interest expense, net of capitalized interest 308  301  207  241  273 
Earnings before interest and tax (EBIT) 3,640  4,089  912  1,317  46 
Solvency Ratio
Interest coverage1 11.82 13.58 4.41 5.46 0.17
Benchmarks
Interest Coverage, Industry
Materials 9.77 10.69 10.33 8.60 9.47

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Interest coverage = EBIT ÷ Interest expense
= 3,640 ÷ 308 = 11.82

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Newmont Corp.’s interest coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.

Fixed Charge Coverage

Newmont Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Newmont stockholders 2,829  2,805  341  (98) (627)
Add: Net income attributable to noncontrolling interest (38) 79  39  11  (296)
Less: Net income (loss) from discontinued operations 163  (72) 61  (38) (133)
Add: Income tax expense 704  832  386  1,125  563 
Add: Interest expense, net of capitalized interest 308  301  207  241  273 
Earnings before interest and tax (EBIT) 3,640  4,089  912  1,317  46 
Add: Operating lease cost 21  22  51  43  43 
Earnings before fixed charges and tax 3,661  4,111  963  1,360  89 
 
Interest expense, net of capitalized interest 308  301  207  241  273 
Operating lease cost 21  22  51  43  43 
Fixed charges 329  323  258  284  316 
Solvency Ratio
Fixed charge coverage1 11.13 12.73 3.73 4.79 0.28
Benchmarks
Fixed Charge Coverage, Industry
Materials 4.96 4.95 5.49 4.54 4.79

Based on: 10-K (filing date: 2021-02-18), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-21).

1 2020 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 3,661 ÷ 329 = 11.13

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Newmont Corp.’s fixed charge coverage ratio improved from 2018 to 2019 but then slightly deteriorated from 2019 to 2020.