Newmont (NEM) FY2020 results: revenue $11.5 billion, up 18.0% on the year
Newmont Corp. (NEM) reported revenue of $11.5 billion for fiscal 2020, the year ended 31 December 2020, up 18.0% on the year before. Net income was $2.8 billion, up 0.9%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$11.5 billion
+18.0% on the year
FY2013FY2020
Operating margin
24.4%
13.1% a year earlier
FY2013FY2020
Net income
$2.8 billion
+0.9% on the year
FY2013FY2020
Diluted EPS
$3.51
-7.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,497
9,740
7,253
+18.0%
Cost of revenue
5,014
5,195
4,093
-3.5%
Gross profit
6,483
4,545
3,160
+42.6%
Gross margin
56.4%
46.7%
43.6%
Research and development
122
150
153
-18.7%
Operating income
2,806
1,277
790
+119.7%
Operating margin
24.4%
13.1%
10.9%
Interest expense
308
301
207
+2.3%
Pre-tax income
3,143
3,693
738
-14.9%
Income tax
704
832
386
-15.4%
Effective tax rate
22.4%
22.5%
52.3%
Net income
2,829
2,805
341
+0.9%
Net margin
24.6%
28.8%
4.7%
Diluted EPS
$3.51
$3.81
$0.64
-7.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,882
2,866
1,827
+70.3%
Capital expenditure
1,302
1,463
1,032
-11.0%
Free cash flow
3,580
1,403
795
+155.2%
Free cash flow margin
31.1%
14.4%
11.0%
Cash from investing
91.0
-1,226
-1,177
Cash from financing
-1,680
-2,777
-455
Depreciation and amortisation
2,300
1,960
1,215
+17.3%
Share-based compensation
84.0
121
76.0
-30.6%
Buybacks
521
479
98.0
+8.8%
Dividends paid
834
889
301
-6.2%
Dividend per share
$1.04
$0.56
$0.56
+85.7%
Diluted shares, weighted
806m
737m
535m
+9.4%
Shares outstanding at period end
800m
808m
533m
-1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
23,008
21,420
10,502
+7.4%
Non-controlling interest
837
950
963
-11.9%
Redeemable equity
34.0
47.0
47.0
-27.7%
Debt
6,080
6,166
4,044
-1.4%
Operating lease liabilities
91.0
47.0
n/a
+93.6%
Other liabilities
11,319
11,344
5,159
-0.2%
Total liabilities and equity
41,369
39,974
20,715
+3.5%
Fixed assets
24,281
25,276
12,258
-3.9%
Goodwill
2,771
2,674
58.0
+3.6%
Intangible assets
n/a
n/a
97.0
Investments
3,487
3,436
319
+1.5%
Cash and equivalents
5,540
2,243
3,397
+147.0%
Receivables
449
373
254
+20.4%
Other assets
4,841
5,972
4,332
-18.9%
Total assets
41,369
39,974
20,715
+3.5%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.