Forensic Analysis · Materials / Mining & Chemicals · as of Aug 9, 2026
Newmont Corp /De/ (NEM)
A forensic read on Newmont Corp /De/ built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
A · High-quality compounder
Forensic grade
Safe
Financial health
7.8
Distress distance
Clean
Earnings quality
5
Forensic signals
12.9
P / E (ttm)
20.9%
ROE
$119.0B
Market cap
0.99%
Dividend yield
21.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Newmont Corp /De/ earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 7.8, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+11.7%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +39% over the last 3 years to FY2025 (+11.7%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~11.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~28%.
38d
FY2013→FY2014
Inventory days.Days inventory outstanding moved from 33 to 38 FY2013→FY2014 (against revenue (COGS not disclosed); inventory -2% vs -19% in revenue). Inventory is building a little faster than sales — watch for markdowns.
0.4% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.4% of revenue and 1% of free cash flow in FY2025 — about $0.09 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 12.9% a year and is falling.
$2.6B
FY2022–FY2023
Goodwill impairments.Took $2.6B of goodwill writedowns across 2 years (FY2022 ($800M), FY2023 ($1.8B)). Writedowns mean past acquisitions underperformed what was paid for them.
-81%
FY2013→FY2014
Dividend — cut.The payout was CUT ~81% in FY2014 (from FY2013) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Key fundamentals
Latest Revenue$22.67B
Revenue Growth YoY+21.3%
Revenue CAGR (3yr)+23.9%
Net Margin31.3%
Free Cash Flow$7.30B
Return on Equity20.9%
Debt / Equity0.15x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Newmont Corp /De/'s actual 10-K/10-Q/8-K filings?