# Newmont (NEM) Forecast Calculator

Interactive five-year financial forecast and DCF for Newmont. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/newmont/forecast
- Industry: Materials
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 9740000000 | 1403000000 | 5653000000 | 2805000000 |
| 2022 | 11497000000 | 3580000000 | 5443000000 | 2829000000 |
| 2023 | 12222000000 | 2626000000 | 3431000000 | 1166000000 |
| 2024 | 11915000000 | 1089000000 | 2134000000 | -429000000 |
| 2025 | 11812000000 | 97000000 | 77000000 | -2494000000 |

## Frequently asked questions

### What does Newmont Corporation do?

Newmont Corporation is the world's leading gold company, also producing copper, silver, zinc, and lead. It operates a global portfolio of assets, recently streamlining its business by divesting non-core assets to focus on its Tier 1 operations.

### What are the primary revenue drivers for Newmont?

Newmont's revenue is primarily driven by metal price cycles, mine sequencing, and the volume of metals extracted from its operations. The company's strategic focus on its Tier 1 portfolio after recent divestitures will also influence future revenue generation.

### What is a key assumption for capital expenditure in the Newmont financial model?

The financial model assumes Capex as a percentage of revenue is approximately 16.07%. Historically, Newmont's capital expenditure typically ranges between 15% to 25% of revenue, with sustaining capital making up about 60% of this total.

### How does the Newmont financial model assist in valuation?

The Newmont financial model is designed as a comprehensive equity valuation and scenario planning tool. It enables analysts to forecast free cash flow and net asset value (NAV) based on factors like metal price cycles and mine sequencing.

### What is Newmont's approach to mergers and acquisitions?

Newmont has a history as a transformational acquirer, notably acquiring Goldcorp in 2019 and Newcrest in 2023. These acquisitions are often followed by periods of portfolio rationalisation and debt reduction, with acquisition multiples typically based on Net Asset Value (NAV).

### Can I download an Excel model for Newmont, and what is its forecast horizon?

Yes, an Excel model for Newmont is available for download. This model provides a forecast horizon spanning from Fiscal Year 2026 through Fiscal Year 2030.