KGC vs NEM: Kinross Gold and Newmont Goldcorp compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Newmont Goldcorp is the larger company, worth $116.2B, about 4.7 times Kinross Gold.
- Kinross Gold grew revenue faster over the last year (+37.0% vs +15.1%).
- Newmont Goldcorp keeps more of each dollar of revenue as operating profit (51.2% vs 46.5%).
- On earnings, Kinross Gold is the cheaper stock (12.2x vs 14.1x).
- Newmont Goldcorp's price assumes faster free cash flow growth: about 2% a year, against -5% for Kinross Gold (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | KGC | NEM |
|---|---|---|
| Market cap | $24.9B | $116.2B |
| Share price | $23.74 | $117.84 |
| Revenue (last fiscal year) | $7.1B | $22.7B |
| Free cash flow (last fiscal year) | $2.6B | $7.3B |
| Revenue growth, last year | +37.0% | +15.1% |
| Revenue growth per year, last 5 fiscal years | +28.3% | +16.7% |
| Operating margin | 46.5% | 51.2% |
| Net margin | 33.9% | 33.4% |
| Return on equity | 27.9% | 24.4% |
| P/E (trailing) | 12.2x | 14.1x |
| Price / free cash flow | 9.69x | 15.9x |
| EV / EBITDA | 6.47x | 7.56x |
| FCF growth the price implies | -4.6% | 2.0% |
| Dividend yield | 0.67% | 0.95% |
| Debt / equity | 0.43x | 0.63x |
| Fundamental grade | A | B |
| Superinvestors holding it | 5 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Kinross Gold
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.6B | $314M | 2.8% |
| 2022 | $3.5B | — | 3.4% |
| 2023 | $4.2B | $507M | 18.9% |
| 2024 | $5.1B | $1.4B | 29.9% |
| 2025 | $7.1B | $2.6B | 46.5% |
Newmont Goldcorp
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.2B | $2.6B | 10.3% |
| 2022 | $11.9B | $1.1B | 1.7% |
| 2023 | $11.8B | $97M | -14.4% |
| 2024 | $18.7B | $3.0B | 24.2% |
| 2025 | $22.7B | $7.3B | 48.4% |
Where the revenue comes from
Kinross Gold · by segments, 2025
Paracatu$2.1B29%
Tasiast$1.7B24%
Fort Knox$1.4B20%
La Coipa$825M12%
Bald Mountain$604M9%
Round Mountain$490M7%
Newmont Goldcorp · by segments, 2024
NGM$2.5B13%
Peñasquito$2.3B12%
Ahafo South$1.9B10%
Cadia$1.9B10%
Boddington$1.7B9%
Lihir$1.5B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open KGC in InvestinglyQuestions
Which is bigger, Kinross Gold or Newmont Goldcorp?
Newmont Goldcorp (NEM), at $116.2B against $24.9B.
Is KGC or NEM cheaper?
By trailing P/E, Kinross Gold (12.2x) is cheaper than Newmont Goldcorp (14.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, KGC or NEM?
Kinross Gold: revenue grew +37.0% over the last year, against +15.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.