Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Newmont Corp., profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Gross Profit Margin
- The gross profit margin initially shows a rising trend from the first available data point in March 2020, increasing from approximately 23.67% to a peak of 37.03% in the third quarter of 2021. Following this peak, the margin declines steadily, dropping to 12.46% by the first quarter of 2024. This suggests an initial improvement in cost management or pricing power that later deteriorates significantly.
- Operating Profit Margin
- Operating profit margin follows a similar upward trend from March 2020, improving from around 13.11% to a high of 29.91% in the third quarter of 2021. After this period, a notable decline occurs, with margins turning negative in the first quarter of 2023 and continuing downward to approximately -13.72% by the first quarter of 2024. This decline points to increasing operating expenses or declining revenues impacting profitability.
- Net Profit Margin
- The net profit margin shows strong values in 2020 and early 2021, peaking near 36.79% in the third quarter of 2020. However, it declines gradually thereafter, turning negative starting in the first quarter of 2023 and reaching a low of -20.33% in the first quarter of 2024. This indicates reduced overall profitability, potentially affected by increased costs, non-operating expenses, or other adverse financial factors.
- Return on Equity (ROE)
- Return on equity trends upward initially, moving from 13.1% in March 2020 to a peak of 17.76% in September 2020, before gradually decreasing to negative territory by early 2023. By the first quarter of 2024, ROE reaches approximately -9.26%, reflecting that the company is generating losses relative to shareholder equity in the most recent periods.
- Return on Assets (ROA)
- Return on assets follows a pattern consistent with other profitability metrics, rising from 7.02% in March 2020 to a peak of 9.8% in September 2020, then declining steadily to -4.83% by March 2024. Negative ROA in recent quarters indicates the company’s assets are not currently generating positive returns.
- Overall Analysis
- Between 2020 and late 2021, all profitability measures demonstrate a period of improvement, reaching their respective peaks. From late 2021 onwards, a marked and sustained deterioration occurs across all key metrics, resulting in negative returns and margins by 2023 and early 2024. This significant reversal suggests challenges impacting business operations, expense management, or external market conditions adversely affecting financial performance.
Return on Sales
Return on Investment
Gross Profit Margin
Newmont Corp., gross profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Gross profit | 1,165) | (262) | 476) | 588) | 670) | 91) | 528) | 742) | 980) | (415) | 841) | 1,166) | 1,026) | 1,161) | 1,271) | 739) | 646) | 780) | 711) | 331) | 483) | |||||||
| Sales | 4,023) | 3,957) | 2,493) | 2,683) | 2,679) | 3,200) | 2,634) | 3,058) | 3,023) | 3,390) | 2,895) | 3,065) | 2,872) | 3,381) | 3,170) | 2,365) | 2,581) | 2,967) | 2,713) | 2,257) | 1,803) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Gross profit margin1 | 14.95% | 12.46% | 16.51% | 16.76% | 17.55% | 19.65% | 15.16% | 17.37% | 20.79% | 21.42% | 34.34% | 37.03% | 35.60% | 33.20% | 31.00% | 27.07% | 23.46% | 23.67% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 30.34% | 31.33% | 30.56% | 28.81% | 30.38% | 33.76% | 36.22% | 40.49% | 41.20% | 38.59% | 36.85% | 33.01% | 27.67% | 17.91% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Gross profit margin = 100
× (Gross profitQ1 2024
+ Gross profitQ4 2023
+ Gross profitQ3 2023
+ Gross profitQ2 2023)
÷ (SalesQ1 2024
+ SalesQ4 2023
+ SalesQ3 2023
+ SalesQ2 2023)
= 100 × (1,165 + -262 + 476 + 588)
÷ (4,023 + 3,957 + 2,493 + 2,683)
= 14.95%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals fluctuations in the company's sales, gross profit, and gross profit margin over the observed periods.
- Sales Trends
- Sales figures demonstrate variability across quarters, ranging from a low of approximately 1,803 million US dollars in March 2019 to a peak exceeding 4,000 million US dollars in the first quarter of 2024. Notably, sales showed a general increasing trend with some fluctuations, including a dip in late 2022 and early 2023, followed by a pronounced increase in early 2024. This pattern indicates periods of expansion interspersed with occasional contractions in revenue generation.
- Gross Profit Patterns
- Gross profit exhibits more pronounced volatility compared to sales. Early periods show moderate profit levels around 300 to 800 million US dollars. A significant surge occurred during late 2020, reaching above 1,200 million US dollars. However, a remarkable decline to negative gross profits was observed in the fourth quarter of 2021 (-415 million US dollars) and again in the fourth quarter of 2023 (-262 million US dollars), indicating potential operational challenges or cost pressures during those periods. Despite these setbacks, the gross profit reverted to positive values in subsequent quarters, suggesting partial recovery.
- Gross Profit Margin Dynamics
- The gross profit margin, expressed as a percentage, displays cyclical trends. The margin improved steadily from early 2020, reaching a high of around 37% in the third quarter of 2021, reflecting enhanced profitability relative to sales. Post this peak, a declining trend is evident, with margins falling to approximately 12.46% by the first quarter of 2024. This downward movement, combined with negative gross profits in certain quarters, may point to increasing costs or decreasing pricing power despite growing sales, thereby exerting pressure on profitability.
In summary, while sales generally experienced growth with some volatility, gross profit and gross profit margin demonstrated more significant fluctuations, including periods of negative profitability. The data suggests operational or market challenges impacting cost efficiency or pricing effectiveness during specific quarters, warranting further investigation into underlying causes to support sustained financial performance.
Operating Profit Margin
Newmont Corp., operating profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Operating income (loss) | 400) | (2,809) | 238) | 366) | 505) | (1,431) | 295) | 540) | 799) | (626) | 66) | 961) | 856) | 920) | 998) | 431) | 457) | 519) | 458) | 12) | 288) | |||||||
| Sales | 4,023) | 3,957) | 2,493) | 2,683) | 2,679) | 3,200) | 2,634) | 3,058) | 3,023) | 3,390) | 2,895) | 3,065) | 2,872) | 3,381) | 3,170) | 2,365) | 2,581) | 2,967) | 2,713) | 2,257) | 1,803) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Operating profit margin1 | -13.72% | -14.39% | -2.91% | -2.37% | -0.79% | 1.70% | 8.33% | 6.30% | 9.70% | 10.28% | 22.95% | 29.91% | 27.19% | 24.41% | 21.70% | 17.55% | 13.75% | 13.11% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 26.31% | 27.24% | 26.57% | 25.14% | 27.03% | 30.89% | 33.69% | 38.37% | 39.20% | 36.62% | 36.69% | 32.66% | 27.34% | 17.16% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Operating profit margin = 100
× (Operating income (loss)Q1 2024
+ Operating income (loss)Q4 2023
+ Operating income (loss)Q3 2023
+ Operating income (loss)Q2 2023)
÷ (SalesQ1 2024
+ SalesQ4 2023
+ SalesQ3 2023
+ SalesQ2 2023)
= 100 × (400 + -2,809 + 238 + 366)
÷ (4,023 + 3,957 + 2,493 + 2,683)
= -13.72%
2 Click competitor name to see calculations.
The financial data indicate fluctuating performance across multiple quarters, with notable volatility in operating income and profit margins despite generally stable sales figures. The analysis of key metrics follows.
- Operating Income (Loss)
- The operating income demonstrates significant variability, with values ranging from a peak of 998 million USD in September 2020 to a substantial loss of -2809 million USD by December 2023. Early periods show positive operating income with some fluctuations, but starting from the end of 2021, the company experiences several quarters of negative operating income, indicating operational challenges or increased costs affecting profitability.
- Sales
- Sales figures exhibit a generally steady pattern with minor fluctuations. Sales start at 1,803 million USD in March 2019 and grow to a peak of 4,023 million USD by March 2024, suggesting an overall growth trend. However, some quarters show declines or stagnation, for example, quarter-to-quarter dips in 2022 and early 2023, before sales rebound significantly in late 2023 and early 2024.
- Operating Profit Margin
- The operating profit margin shows strong improvement throughout 2019 and much of 2020, increasing from approximately 13% to nearly 30%. This indicates increasing efficiency or profitability relative to sales during that period. After peaking in late 2021, margins decline sharply, turning negative starting mid-2022, and reaching deeply negative values beyond -14% by late 2023 and early 2024, reflecting poor operational profitability and potential increased operational costs or reduced revenue quality despite rising sales.
In summary, the data reflects a company experiencing growth in revenue but facing deteriorating profitability in recent periods. The volatility in operating income coupled with declining profit margins suggests operational or market challenges impacting earnings. The sharp negative margins in the latest quarters warrant attention to cost management, operational efficiency, or other underlying factors contributing to losses despite increasing top-line revenue.
Net Profit Margin
Newmont Corp., net profit margin calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Newmont stockholders | 170) | (3,158) | 158) | 155) | 351) | (1,477) | 213) | 387) | 448) | (46) | 3) | 650) | 559) | 824) | 839) | 344) | 822) | 565) | 2,178) | (25) | 87) | |||||||
| Sales | 4,023) | 3,957) | 2,493) | 2,683) | 2,679) | 3,200) | 2,634) | 3,058) | 3,023) | 3,390) | 2,895) | 3,065) | 2,872) | 3,381) | 3,170) | 2,365) | 2,581) | 2,967) | 2,713) | 2,257) | 1,803) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| Net profit margin1 | -20.33% | -21.11% | -7.35% | -6.77% | -4.55% | -3.60% | 8.28% | 6.40% | 8.53% | 9.54% | 16.67% | 23.00% | 21.77% | 24.61% | 23.19% | 36.79% | 33.66% | 28.80% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | ||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 6.97% | 8.09% | 9.50% | 9.63% | 12.07% | 15.22% | 16.72% | 20.08% | 20.79% | 18.85% | 18.45% | 14.98% | 11.13% | 4.22% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Net profit margin = 100
× (Net income (loss) attributable to Newmont stockholdersQ1 2024
+ Net income (loss) attributable to Newmont stockholdersQ4 2023
+ Net income (loss) attributable to Newmont stockholdersQ3 2023
+ Net income (loss) attributable to Newmont stockholdersQ2 2023)
÷ (SalesQ1 2024
+ SalesQ4 2023
+ SalesQ3 2023
+ SalesQ2 2023)
= 100 × (170 + -3,158 + 158 + 155)
÷ (4,023 + 3,957 + 2,493 + 2,683)
= -20.33%
2 Click competitor name to see calculations.
The financial data over the reported quarterly periods reveals varying performance trends in key areas such as net income, sales, and net profit margin.
- Net income attributable to stockholders (US$ in millions)
- Net income values demonstrate significant volatility throughout the periods. The figures range from positive peaks, such as 2,178 million in September 2019, to notable losses, including -1,477 million in December 2022 and a substantial drop to -3,158 million in March 2024. Periods of profitability are interspersed with negative results, indicating instability in net earnings over time.
- Sales (US$ in millions)
- Sales exhibit an overall upward trajectory with fluctuations but generally demonstrate growth across the years. Initial sales in the early periods were around 1,803 million in March 2019, rising to over 4,000 million by March 2024. Despite some quarter-to-quarter variability, particularly in 2022 and early 2023, the longer-term trend reflects increasing revenue generation capacity.
- Net profit margin (%)
- The net profit margin shows a declining trend over the timeline covered. Initial recorded margins were strong, with values above 20% in 2019 and early 2020. This margin gradually decreased in subsequent periods, dropping to negative figures starting late 2022 and continuing with worsening negative margins into 2024, reaching approximately -20% by the last quarter. This decline indicates pressure on profitability despite increasing sales figures.
In summary, while sales have generally increased over the observed quarters, profitability metrics such as net income and net profit margin have shown considerable volatility and deterioration, particularly from late 2022 onward. This suggests challenges in cost management, market conditions, or other operational factors impacting net earnings adversely despite revenue growth.
Return on Equity (ROE)
Newmont Corp., ROE calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Newmont stockholders | 170) | (3,158) | 158) | 155) | 351) | (1,477) | 213) | 387) | 448) | (46) | 3) | 650) | 559) | 824) | 839) | 344) | 822) | 565) | 2,178) | (25) | 87) | |||||||
| Total Newmont stockholders’ equity | 28,890) | 29,027) | 19,074) | 19,225) | 19,377) | 19,354) | 21,219) | 21,421) | 21,449) | 22,022) | 22,712) | 23,239) | 23,127) | 23,008) | 22,661) | 22,004) | 21,806) | 21,420) | 21,430) | 19,354) | 10,499) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROE1 | -9.26% | -8.59% | -4.26% | -3.94% | -2.71% | -2.22% | 4.72% | 3.70% | 4.92% | 5.29% | 8.96% | 12.36% | 11.10% | 12.30% | 11.34% | 17.76% | 16.23% | 13.10% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROE, Competitors2 | ||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 9.77% | 11.07% | 13.11% | 13.00% | 16.22% | 22.30% | 25.93% | 32.72% | 34.41% | 30.80% | 29.27% | 23.63% | 16.56% | 5.89% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
ROE = 100
× (Net income (loss) attributable to Newmont stockholdersQ1 2024
+ Net income (loss) attributable to Newmont stockholdersQ4 2023
+ Net income (loss) attributable to Newmont stockholdersQ3 2023
+ Net income (loss) attributable to Newmont stockholdersQ2 2023)
÷ Total Newmont stockholders’ equity
= 100 × (170 + -3,158 + 158 + 155)
÷ 28,890 = -9.26%
2 Click competitor name to see calculations.
The net income attributable to stockholders exhibits considerable volatility across the observed periods. Initially, fluctuations are evident with positive and negative values alternating in the early years. A peak is observed around the third quarter of 2019, followed by moderate positive income through 2020 and most of 2021. However, starting from late 2021 and into 2023, the net income increasingly trends downward, culminating in significant negative figures by the end of 2023 and early 2024.
Total stockholders’ equity shows a general upward trend from the beginning of the period until early 2021, reaching a peak slightly above 23,000 million USD. Thereafter, a gradual decline occurs from 2021 through 2023, dipping below the initial highs before sharply increasing again around the first quarter of 2024 to nearly 29,000 million USD, indicating a substantial equity infusion or revaluation effect during that time.
Return on equity (ROE) values, available from late 2019 onwards, demonstrate fluctuating profitability. The ROE peaks in mid-2020 with values exceeding 17%, reflecting strong profitability relative to equity. Post-2020, a decreasing trend in ROE is noted, progressively declining through 2022. From early 2023 onwards, ROE enters negative territory and further declines, reaching lows around -9% by the first quarter of 2024. This negative return aligns with the observed net losses in recent quarters, signaling challenges in generating positive returns on shareholder equity.
- Summary of Observations
- - The company experienced significant fluctuations in net income, with strong gains in 2019 and 2020, followed by a weakening performance and notable losses in 2023 and early 2024.
- - Stockholders’ equity generally grew through 2020 and early 2021, with a decline spanning the subsequent two years, and a sharp increase at the start of 2024.
- - Return on equity mirrored net income trends, rising substantially in 2020, then transitioning into consistent negative returns in recent quarters.
- - The decline in profitability and negative ROE in the most recent periods suggest operational or market difficulties impacting overall financial performance.
- - The spike in stockholders’ equity at the start of 2024 may indicate capital restructuring, significant retained earnings adjustments, or other equity-related transactions that could warrant further investigation.
Return on Assets (ROA)
Newmont Corp., ROA calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to Newmont stockholders | 170) | (3,158) | 158) | 155) | 351) | (1,477) | 213) | 387) | 448) | (46) | 3) | 650) | 559) | 824) | 839) | 344) | 822) | 565) | 2,178) | (25) | 87) | |||||||
| Total assets | 55,335) | 55,506) | 38,084) | 38,133) | 38,374) | 38,482) | 39,143) | 39,690) | 39,913) | 40,564) | 39,865) | 40,677) | 41,063) | 41,369) | 40,551) | 39,885) | 39,699) | 39,974) | 40,763) | 36,987) | 20,880) | |||||||
| Profitability Ratio | ||||||||||||||||||||||||||||
| ROA1 | -4.83% | -4.49% | -2.13% | -1.99% | -1.37% | -1.11% | 2.56% | 2.00% | 2.64% | 2.87% | 5.11% | 7.06% | 6.25% | 6.84% | 6.34% | 9.80% | 8.92% | 7.02% | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| ROA, Competitors2 | ||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 3.06% | 3.52% | 4.18% | 4.14% | 5.12% | 6.79% | 7.77% | 9.72% | 10.47% | 8.97% | 8.33% | 6.25% | 4.14% | 1.42% | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
ROA = 100
× (Net income (loss) attributable to Newmont stockholdersQ1 2024
+ Net income (loss) attributable to Newmont stockholdersQ4 2023
+ Net income (loss) attributable to Newmont stockholdersQ3 2023
+ Net income (loss) attributable to Newmont stockholdersQ2 2023)
÷ Total assets
= 100 × (170 + -3,158 + 158 + 155)
÷ 55,335 = -4.83%
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The financial data reveals fluctuations in profitability and asset base over the analyzed quarters. Net income attributable to stockholders exhibits notable volatility, with several peaks and troughs across the periods. A significant profit was recorded in the third quarter of 2019, followed by relatively stable positive earnings through 2020 and early 2021, ranging between moderate gains. However, there is a transition to lower and even negative earnings from late 2021 onwards, including pronounced losses in the fourth quarter of 2022 and the first quarter of 2024.
Total assets generally remained stable with slight fluctuations, maintaining a range mostly between approximately 38,000 to 41,500 million USD throughout the majority of the periods. An exception is observed in the first quarter of 2024, where assets increased sharply to over 55,000 million USD, suggesting either a significant acquisition, asset revaluation, or other major balance sheet event.
Return on assets (ROA) shows a declining trend over time. Initial ROA values were strong, peaking near 9.8% in the third quarter of 2020. This is followed by a gradual reduction through 2021 and 2022, descending into negative territory by early 2023. The negative ROA persists and worsens into 2024, indicating decreasing efficiency in asset utilization to generate earnings and pointing towards operational or market challenges during the latest observed periods.
- Net Income
- Exhibits considerable volatility with high gross profit in late 2019 and early 2020, followed by intermittent positive income that declines sharply from late 2021. Significant losses evident in the last quarter of 2022 and the first quarter of 2024 signal potential operational or market difficulties impacting profitability.
- Total Assets
- Remain relatively stable through 2019 to 2023, with minor fluctuations suggesting steady asset management. A substantial increase in early 2024 implies a material change in asset composition or scale, which may affect future financial performance and risk profile.
- Return on Assets (ROA)
- Peaks in mid-2020, reflecting strong profitability against asset base, but thereafter follows a consistent downward trajectory. Negative ROA from early 2023 through 2024 indicates deteriorating profitability and possibly inefficient asset usage.