Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

Newmont Corp., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Turnover Ratios
Inventory turnover 4.03 6.61 5.84 5.21 5.12
Receivables turnover 16.09 32.55 36.27 25.61 26.11
Payables turnover 6.98 10.22 10.49 10.17 9.64
Working capital turnover 7.80 3.32 2.42 2.24 2.51
Average No. Days
Average inventory processing period 91 55 62 70 71
Add: Average receivable collection period 23 11 10 14 14
Operating cycle 114 66 72 84 85
Less: Average payables payment period 52 36 35 36 38
Cash conversion cycle 62 30 37 48 47

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Newmont Corp. inventory turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. Newmont Corp. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Newmont Corp. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Newmont Corp. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Newmont Corp. number of days of inventory outstanding improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Newmont Corp. number of days of receivables outstanding deteriorated from 2021 to 2022 and from 2022 to 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Newmont Corp. operating cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Newmont Corp. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Newmont Corp. cash conversion cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Inventory Turnover

Newmont Corp., inventory turnover 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)
Costs applicable to sales 6,699 6,468 5,435 5,014 5,195
Inventories 1,663 979 930 963 1,014
Short-term Activity Ratio
Inventory turnover1 4.03 6.61 5.84 5.21 5.12
Benchmarks
Inventory Turnover, Competitors2
Freeport-McMoRan Inc. 2.59 2.91 3.12 2.99 3.22
Inventory Turnover, Sector
Metals & Mining 2.90 3.50 3.59 3.43 3.60
Inventory Turnover, Industry
Materials 4.05 5.04 5.17 4.87 5.15

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
Inventory turnover = Costs applicable to sales ÷ Inventories
= 6,699 ÷ 1,663 = 4.03

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Newmont Corp. inventory turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Receivables Turnover

Newmont Corp., receivables turnover 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)
Sales 11,812 11,915 12,222 11,497 9,740
Trade receivables 734 366 337 449 373
Short-term Activity Ratio
Receivables turnover1 16.09 32.55 36.27 25.61 26.11
Benchmarks
Receivables Turnover, Competitors2
Freeport-McMoRan Inc. 18.90 17.05 19.56 15.92 19.44
Receivables Turnover, Sector
Metals & Mining 17.84 20.38 23.30 19.16 21.67
Receivables Turnover, Industry
Materials 10.14 10.87 10.97 9.61 9.63

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
Receivables turnover = Sales ÷ Trade receivables
= 11,812 ÷ 734 = 16.09

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Newmont Corp. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Payables Turnover

Newmont Corp., payables turnover 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)
Costs applicable to sales 6,699 6,468 5,435 5,014 5,195
Accounts payable 960 633 518 493 539
Short-term Activity Ratio
Payables turnover1 6.98 10.22 10.49 10.17 9.64
Benchmarks
Payables Turnover, Competitors2
Freeport-McMoRan Inc. 6.36 5.59 6.89 7.91 7.92
Payables Turnover, Sector
Metals & Mining 6.54 6.47 7.62 8.48 8.34
Payables Turnover, Industry
Materials 6.19 6.48 6.11 6.33 6.40

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
Payables turnover = Costs applicable to sales ÷ Accounts payable
= 6,699 ÷ 960 = 6.98

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Newmont Corp. payables turnover ratio decreased from 2021 to 2022 and from 2022 to 2023.

Working Capital Turnover

Newmont Corp., working capital turnover 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 assets 7,512 6,515 7,696 8,505 6,272
Less: Current liabilities 5,998 2,926 2,654 3,369 2,385
Working capital 1,514 3,589 5,042 5,136 3,887
 
Sales 11,812 11,915 12,222 11,497 9,740
Short-term Activity Ratio
Working capital turnover1 7.80 3.32 2.42 2.24 2.51
Benchmarks
Working Capital Turnover, Competitors2
Freeport-McMoRan Inc. 2.77 2.46 2.56 2.41 3.06
Working Capital Turnover, Sector
Metals & Mining 3.55 2.70 2.51 2.33 2.81
Working Capital Turnover, Industry
Materials 10.13 7.22 6.27 6.45 7.72

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
Working capital turnover = Sales ÷ Working capital
= 11,812 ÷ 1,514 = 7.80

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Newmont Corp. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Average Inventory Processing Period

Newmont Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Inventory turnover 4.03 6.61 5.84 5.21 5.12
Short-term Activity Ratio (no. days)
Average inventory processing period1 91 55 62 70 71
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Freeport-McMoRan Inc. 141 125 117 122 113
Average Inventory Processing Period, Sector
Metals & Mining 126 104 102 106 101
Average Inventory Processing Period, Industry
Materials 90 72 71 75 71

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.03 = 91

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Newmont Corp. number of days of inventory outstanding improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Average Receivable Collection Period

Newmont Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Receivables turnover 16.09 32.55 36.27 25.61 26.11
Short-term Activity Ratio (no. days)
Average receivable collection period1 23 11 10 14 14
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Freeport-McMoRan Inc. 19 21 19 23 19
Average Receivable Collection Period, Sector
Metals & Mining 20 18 16 19 17
Average Receivable Collection Period, Industry
Materials 36 34 33 38 38

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 16.09 = 23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Newmont Corp. number of days of receivables outstanding deteriorated from 2021 to 2022 and from 2022 to 2023.

Operating Cycle

Newmont Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 91 55 62 70 71
Average receivable collection period 23 11 10 14 14
Short-term Activity Ratio
Operating cycle1 114 66 72 84 85
Benchmarks
Operating Cycle, Competitors2
Freeport-McMoRan Inc. 160 146 136 145 132
Operating Cycle, Sector
Metals & Mining 146 122 118 125 118
Operating Cycle, Industry
Materials 126 106 104 113 109

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 91 + 23 = 114

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Newmont Corp. operating cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Average Payables Payment Period

Newmont Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Payables turnover 6.98 10.22 10.49 10.17 9.64
Short-term Activity Ratio (no. days)
Average payables payment period1 52 36 35 36 38
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Freeport-McMoRan Inc. 57 65 53 46 46
Average Payables Payment Period, Sector
Metals & Mining 56 56 48 43 44
Average Payables Payment Period, Industry
Materials 59 56 60 58 57

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.98 = 52

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Newmont Corp. number of days of payables outstanding increased from 2021 to 2022 and from 2022 to 2023.

Cash Conversion Cycle

Newmont Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data
Average inventory processing period 91 55 62 70 71
Average receivable collection period 23 11 10 14 14
Average payables payment period 52 36 35 36 38
Short-term Activity Ratio
Cash conversion cycle1 62 30 37 48 47
Benchmarks
Cash Conversion Cycle, Competitors2
Freeport-McMoRan Inc. 103 81 83 99 86
Cash Conversion Cycle, Sector
Metals & Mining 90 66 70 82 74
Cash Conversion Cycle, Industry
Materials 67 50 44 55 52

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 91 + 2352 = 62

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Newmont Corp. cash conversion cycle improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.