Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

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Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Newmont Corp., solvency ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Newmont Corp. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
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. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Newmont Corp. debt to capital ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
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. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Newmont Corp. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
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. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Newmont Corp. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Newmont Corp. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Newmont Corp. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Equity

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
 
Total Newmont stockholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Freeport-McMoRan Inc.
Debt to Equity, Sector
Metals & Mining
Debt to Equity, Industry
Materials

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).

1 2023 Calculation
Debt to equity = Total debt ÷ Total Newmont stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Newmont Corp. debt to equity ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Equity (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
Current operating lease obligations
Non-current operating lease obligations
Total debt (including operating lease liability)
 
Total Newmont stockholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Freeport-McMoRan Inc.
Debt to Equity (including Operating Lease Liability), Sector
Metals & Mining
Debt to Equity (including Operating Lease Liability), Industry
Materials

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).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Newmont stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

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. debt to equity ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Capital

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
Total Newmont stockholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Freeport-McMoRan Inc.
Debt to Capital, Sector
Metals & Mining
Debt to Capital, Industry
Materials

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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

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. debt to capital ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
Current operating lease obligations
Non-current operating lease obligations
Total debt (including operating lease liability)
Total Newmont stockholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Freeport-McMoRan Inc.
Debt to Capital (including Operating Lease Liability), Sector
Metals & Mining
Debt to Capital (including Operating Lease Liability), Industry
Materials

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).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

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. debt to capital ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Assets

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Freeport-McMoRan Inc.
Debt to Assets, Sector
Metals & Mining
Debt to Assets, Industry
Materials

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).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Newmont Corp. debt to assets ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Debt to Assets (including Operating Lease Liability)

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current finance lease and other financing obligations
Current debt
Non-current debt
Non-current finance lease and other financing obligations
Total debt
Current operating lease obligations
Non-current operating lease obligations
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Freeport-McMoRan Inc.
Debt to Assets (including Operating Lease Liability), Sector
Metals & Mining
Debt to Assets (including Operating Lease Liability), Industry
Materials

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).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

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. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 and from 2022 to 2023.

Financial Leverage

Newmont Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Total assets
Total Newmont stockholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Freeport-McMoRan Inc.
Financial Leverage, Sector
Metals & Mining
Financial Leverage, Industry
Materials

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).

1 2023 Calculation
Financial leverage = Total assets ÷ Total Newmont stockholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Newmont Corp. financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Interest Coverage

Newmont Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Newmont stockholders
Add: Net income attributable to noncontrolling interest
Less: Net income (loss) from discontinued operations
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Freeport-McMoRan Inc.
Interest Coverage, Sector
Metals & Mining
Interest Coverage, Industry
Materials

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).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Newmont Corp. interest coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Fixed Charge Coverage

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

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Newmont stockholders
Add: Net income attributable to noncontrolling interest
Less: Net income (loss) from discontinued operations
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense, net of capitalized interest
Operating lease cost
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Freeport-McMoRan Inc.
Fixed Charge Coverage, Sector
Metals & Mining
Fixed Charge Coverage, Industry
Materials

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).

1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

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. fixed charge coverage ratio deteriorated from 2021 to 2022 and from 2022 to 2023.