NYSE : KGC
Kinross Gold Corporation — Financial statements
Materials · Gold · Canada
Last price 20.13 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 23.68B
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Financial statements
Kinross Gold Corporation (KGC) reported revenue of 8.44B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 8.44B | 7.05B | 5.15B | 4.24B | 3.46B | 2.60B |
| Cost of Revenue | 2.65B | 2.35B | 2.20B | 2.09B | 1.91B | 1.31B |
| Gross Profit | 5.79B | 4.70B | 2.95B | 2.15B | 1.54B | 1.29B |
| Selling, General & Admin | 154.40M | 139.90M | 126.20M | 108.70M | 116.80M | 114.40M |
| Other Operating Expenses | 128.00M | 143.40M | 54.90M | 101.50M | 139.30M | 256.20M |
| Operating Expenses | 1.49B | 1.59B | 1.53B | 1.38B | 1.19B | 1.15B |
| Operating Income | 4.30B | 3.11B | 1.43B | 764.40M | 348.40M | 131.60M |
| Interest Expense | -43.70M | -81.80M | -50.50M | -69.00M | -68.20M | -71.60M |
| Interest & Investment Income | 76.90M | 73.00M | 18.20M | 40.50M | 18.30M | 10.80M |
| Currency Exchange Gain (Loss) | -1.10M | |||||
| Other Non Operating Income (Expenses) | -34.60M | -24.60M | 14.30M | -27.30M | 2.30M | |
| EBT Excluding Unusual Items | 4.30B | 3.08B | 1.41B | 708.60M | 297.40M | 73.10M |
| Merger & Restructuring Charges | -13.00M | |||||
| Gain (Loss) on Sale of Assets | -14.30M | -9.80M | ||||
| Asset Writedown | 116.10M | 116.10M | 74.10M | -243.20M | -49.30M | |
| Other Unusual Items | -20.80M | |||||
| Pretax Income | 4.42B | 3.19B | 1.48B | 708.60M | 106.70M | 84.30M |
| Income Tax Expense | 1.21B | 724.70M | 487.40M | 293.20M | 76.10M | 115.00M |
| Earnings From Continuing Operations | 3.21B | 2.47B | 994.00M | 415.40M | 30.60M | -30.70M |
| Earnings From Discontinued Operations | -636.30M | 249.40M | ||||
| Net Income to Company | 3.21B | 2.47B | 994.00M | 415.40M | -605.70M | 218.70M |
| Minority Interest in Earnings | -33.20M | -79.90M | -45.20M | 900.00K | 500.00K | 2.50M |
| Net Income | 3.18B | 2.39B | 948.80M | 416.30M | -605.20M | 221.20M |
| Net Income to Common | 3.18B | 2.39B | 948.80M | 416.30M | -605.20M | 221.20M |
| Shares Outstanding (Basic) | 1.20B | 1.22B | 1.23B | 1.23B | 1.28B | 1.26B |
| Shares Outstanding (Diluted) | 1.20B | 1.22B | 1.23B | 1.24B | 1.29B | 1.26B |
| EPS (Basic) | 2.66 | 1.96 | 0.77 | 0.34 | -0.47 | 0.18 |
| EPS (Diluted) | 2.64 | 1.95 | 0.77 | 0.34 | -0.47 | 0.18 |
| Free Cash Flow | 2.61B | 2.55B | 1.28B | 392.90M | 242.20M | 265.70M |
| Free Cash Flow Per Share | 2.18 | 2.08 | 1.03 | 0.32 | 0.19 | 0.21 |
| Dividend Per Share | 0.16 | 0.14 | 0.12 | 0.12 | 0.12 | 0.12 |
| Gross Margin | 68.61% | 66.72% | 57.33% | 50.63% | 44.65% | 49.47% |
| Operating Margin | 50.98% | 44.14% | 27.68% | 18.03% | 10.08% | 5.06% |
| Profit Margin | 37.62% | 33.90% | 18.43% | 9.82% | -17.52% | 8.51% |
| Free Cash Flow Margin | 30.92% | 36.12% | 24.83% | 9.27% | 7.01% | 10.22% |
| EBITDA | 5.33B | 4.20B | 2.56B | 1.77B | 1.14B | 805.70M |
| EBITDA Margin | 63.10% | 59.63% | 49.72% | 41.84% | 32.93% | 30.99% |
| D&A For EBITDA | 1.02B | 1.09B | 1.13B | 1.01B | 789.40M | 674.10M |
| EBIT | 4.30B | 3.11B | 1.43B | 764.40M | 348.40M | 131.60M |
| EBIT Margin | 50.98% | 44.14% | 27.68% | 18.03% | 10.08% | 5.06% |
| Effective Tax Rate | 27.36% | 22.68% | 32.90% | 41.38% | 71.32% | 136.42% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.64B | 1.74B | 611.50M | 352.40M | 418.10M | 531.50M |
| Short-Term Investments | 19.40M | 16.70M | 14.50M | 7.90M | 16.60M | |
| Cash & Short-Term Investments | 2.64B | 1.76B | 628.20M | 366.90M | 426.00M | 548.10M |
| Accounts Receivable | 148.20M | 30.50M | 52.60M | 58.50M | ||
| Other Receivables | 53.70M | 144.60M | 156.00M | 225.20M | 89.70M | |
| Receivables | 148.20M | 84.20M | 197.20M | 214.50M | 225.20M | 89.70M |
| Inventory | 1.49B | 1.37B | 1.24B | 1.15B | 1.07B | 1.15B |
| Prepaid Expenses | 42.20M | 43.40M | 43.10M | 33.80M | 31.90M | |
| Restricted Cash | 16.90M | 13.50M | 10.20M | 9.80M | 10.10M | 11.40M |
| Other Current Assets | 74.40M | 16.60M | 4.50M | 15.00M | 85.30M | 116.50M |
| Total Current Assets | 4.36B | 3.29B | 2.13B | 1.80B | 1.85B | 1.95B |
| Property, Plant & Equipment | 8.63B | 8.29B | 7.97B | 7.96B | 7.74B | 7.62B |
| Long-Term Investments | 128.90M | 148.90M | 65.60M | 61.20M | 123.00M | 105.30M |
| Goodwill | 158.80M | |||||
| Long-Term Deferred Tax Assets | 5.10M | 25.00M | 5.30M | 12.50M | 4.60M | 6.50M |
| Long-Term Deferred Charges | 7.30M | |||||
| Other Long-Term Assets | 814.70M | 659.30M | 699.40M | 704.10M | 674.80M | 583.60M |
| Total Assets | 13.94B | 12.41B | 10.87B | 10.54B | 10.40B | 10.43B |
| Accounts Payable | 670.60M | 129.60M | 83.90M | 113.70M | 119.10M | 87.80M |
| Accrued Expenses | 62.90M | 577.50M | 459.10M | 417.80M | 430.90M | 404.90M |
| Current Portion of Long-Term Debt | 199.90M | 36.00M | 40.00M | |||
| Current Portion of Leases | 22.60M | 24.50M | 19.70M | |||
| Current Income Taxes Payable | 691.90M | 595.70M | 236.70M | 92.90M | 89.40M | 95.00M |
| Other Current Liabilities | 94.00M | 74.20M | 80.50M | 61.10M | 51.60M | 94.00M |
| Total Current Liabilities | 1.52B | 1.40B | 1.06B | 685.50M | 751.50M | 741.40M |
| Long-Term Debt | 739.20M | 738.20M | 1.24B | 2.23B | 2.56B | 1.59B |
| Long-Term Leases | 15.00M | 28.60M | 51.40M | 70.80M | 23.10M | 35.10M |
| Long-Term Deferred Tax Liabilities | 569.20M | 537.80M | 549.00M | 449.70M | 301.50M | 436.80M |
| Other Long-Term Liabilities | 1.00B | 1.01B | 969.00M | 919.00M | 881.20M | 975.30M |
| Total Liabilities | 3.84B | 3.72B | 3.87B | 4.36B | 4.51B | 3.78B |
| Common Stock | 4.31B | 4.38B | 4.49B | 4.48B | 4.45B | 4.43B |
| Additional Paid-In Capital | 9.46B | 10.14B | 10.64B | 10.65B | 10.67B | 10.66B |
| Retained Earnings | -3.82B | -5.94B | -8.18B | -8.98B | -9.25B | -8.49B |
| Comprehensive Income & Other | 23.40M | -300.00K | -87.40M | -61.30M | -41.70M | -18.80M |
| Total Common Equity | 9.97B | 8.58B | 6.86B | 6.08B | 5.82B | 6.58B |
| Minority Interest | 127.40M | 118.10M | 139.00M | 102.00M | 58.50M | 68.70M |
| Shareholders' Equity | 10.10B | 8.69B | 7.00B | 6.19B | 5.88B | 6.65B |
| Total Liabilities & Equity | 13.94B | 12.41B | 10.87B | 10.54B | 10.40B | 10.43B |
| Total Debt | 754.20M | 789.40M | 1.49B | 2.30B | 2.64B | 1.68B |
| Net Cash (Debt) | 1.88B | 972.30M | -858.60M | -1.94B | -2.21B | -1.14B |
| Net Cash Per Share | 1.57 | 0.79 | -0.70 | -1.57 | -1.71 | -0.90 |
| Filing Date Shares Outstanding | 1.17B | 1.20B | 1.23B | 1.23B | 1.22B | 1.24B |
| Total Common Shares Outstanding | 1.18B | 1.20B | 1.23B | 1.23B | 1.22B | 1.24B |
| Working Capital | 2.84B | 1.89B | 1.07B | 1.12B | 1.10B | 1.21B |
| Book Value Per Share | 8.46 | 7.15 | 5.58 | 4.95 | 4.77 | 5.29 |
| Tangible Book Value | 9.97B | 8.58B | 6.86B | 6.08B | 5.82B | 6.42B |
| Tangible Book Value Per Share | 8.46 | 7.15 | 5.58 | 4.95 | 4.77 | 5.16 |
| Land | 10.77B | 10.31B | 9.60B | 9.18B | 10.12B | |
| Construction In Progress | 330.50M | 276.30M | 542.00M | 338.40M | 399.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.18B | 2.39B | 948.80M | 416.30M | -605.20M | 221.20M |
| Depreciation & Amortization | 1.04B | 1.10B | 1.15B | 1.02B | 809.50M | 706.30M |
| Asset Writedown & Restructuring Costs | -116.10M | -116.10M | -74.10M | 243.20M | 49.30M | |
| Loss (Gain) From Sale of Investments | -63.00M | |||||
| Stock-Based Compensation | 15.80M | 13.10M | 9.00M | 6.70M | 9.30M | 10.80M |
| Other Operating Activities | 154.50M | 391.70M | 347.40M | 85.70M | 659.00M | -213.60M |
| Change in Accounts Receivable | -7.20M | 9.50M | 27.50M | 68.70M | 17.90M | -70.10M |
| Change in Inventory | -87.40M | -83.90M | 14.30M | -91.40M | -261.60M | -125.00M |
| Change in Accounts Payable | -36.40M | 114.10M | 26.00M | 95.50M | 130.40M | 116.20M |
| Operating Cash Flow | 4.14B | 3.76B | 2.45B | 1.61B | 1.05B | 1.14B |
| Capital Expenditures | -1.53B | -1.21B | -1.17B | -1.21B | -807.90M | -869.50M |
| Cash Acquisitions | -1.03B | |||||
| Investment in Securities | 5.80M | 117.70M | -38.40M | 1.70M | -67.20M | -66.30M |
| Other Investing Activities | 76.00M | 92.90M | 26.60M | 88.50M | 300.80M | -256.80M |
| Investing Cash Flow | -1.44B | -1.00B | -1.18B | -1.12B | -1.60B | -1.19B |
| Long-Term Debt Issued | 588.10M | 1.30B | 200.00M | |||
| Long-Term Debt Repaid | -707.20M | -812.10M | -990.20M | -363.20M | -533.80M | |
| Lease Payments | -8.50M | -7.20M | -12.10M | -30.20M | -23.20M | -33.80M |
| Net Debt Issued (Repaid) | -508.50M | -707.20M | -812.10M | -402.10M | 934.40M | -333.80M |
| Repurchase of Common Stock | -1.01B | -600.30M | -300.80M | -100.20M | ||
| Common Dividends Paid | -184.90M | -152.10M | -147.50M | -147.30M | -154.00M | -151.10M |
| Other Financing Activities | -71.10M | -168.40M | -46.30M | 400.00K | -42.10M | -38.10M |
| Financing Cash Flow | -1.78B | -1.63B | -1.01B | -549.00M | 437.50M | -623.20M |
| Foreign Exchange Rate Adjustments | 1.40M | 1.70M | -1.50M | 200.00K | 800.00K | 1.20M |
| Net Cash Flow | 916.70M | 1.13B | 259.10M | -65.70M | -113.40M | -679.40M |
| Free Cash Flow | 2.61B | 2.55B | 1.28B | 392.90M | 242.20M | 265.70M |
| Free Cash Flow Margin | 30.92% | 36.12% | 24.83% | 9.27% | 7.01% | 10.22% |
| Free Cash Flow Per Share | 2.18 | 2.08 | 1.03 | 0.32 | 0.19 | 0.21 |
| Levered Free Cash Flow | 2.46B | 2.38B | 992.85M | 254.72M | 177.43M | -431.50M |
| Unlevered Free Cash Flow | 2.49B | 2.43B | 1.02B | 297.85M | 220.05M | -386.75M |
| Free Cash Flow After Leases | 2.60B | 2.54B | 1.27B | 362.70M | 219.00M | 231.90M |
| Cash Interest Paid | 36.90M | 65.20M | 35.60M | 53.20M | 52.40M | 46.90M |
| Cash Income Tax Paid | 999.40M | 418.40M | 178.20M | 137.40M | 140.70M | 158.10M |
| Change in Working Capital | -131.00M | 39.70M | 67.80M | 72.80M | -113.30M | -78.90M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 24.13B | 34.04B | 11.40B | 7.46B | 5.12B | 7.27B |
| Enterprise Value | 22.35B | 33.59B | 12.68B | 9.59B | 7.27B | 8.17B |
| Last Close Price | 20.56 | 28.05 | 9.16 | 5.89 | 3.88 | 5.36 |
| PE Ratio | 7.66 | 14.24 | 12.02 | 17.91 | 32.87 | |
| PS Ratio | 2.86 | 4.83 | 2.21 | 1.76 | 1.48 | 2.80 |
| PB Ratio | 2.39 | 3.92 | 1.63 | 1.21 | 0.87 | 1.09 |
| P/TBV Ratio | 2.42 | 3.97 | 1.66 | 1.23 | 0.88 | 1.13 |
| P/FCF Ratio | 9.24 | 13.37 | 8.92 | 18.98 | 21.15 | 27.37 |
| P/OCF Ratio | 5.83 | 9.05 | 4.66 | 4.64 | 4.88 | 6.41 |
| EV/Sales Ratio | 2.65 | 4.76 | 2.46 | 2.26 | 2.10 | 3.14 |
| EV/EBITDA Ratio | 4.19 | 7.99 | 4.95 | 5.41 | 6.38 | 10.14 |
| EV/EBIT Ratio | 5.19 | 10.79 | 8.90 | 12.54 | 20.85 | 62.07 |
| EV/FCF Ratio | 8.56 | 13.19 | 9.92 | 24.41 | 30.00 | 30.74 |
| Debt / Equity Ratio | 0.07 | 0.09 | 0.21 | 0.37 | 0.45 | 0.25 |
| Debt / EBITDA Ratio | 0.14 | 0.19 | 0.58 | 1.29 | 2.28 | 2.01 |
| Debt / FCF Ratio | 0.29 | 0.31 | 1.16 | 5.86 | 10.90 | 6.34 |
| Net Debt / Equity Ratio | -0.19 | -0.11 | 0.12 | 0.31 | 0.38 | 0.17 |
| Net Debt / EBITDA Ratio | -0.35 | -0.23 | 0.34 | 1.09 | 1.95 | 1.41 |
| Net Debt / FCF Ratio | -0.72 | -0.38 | 0.67 | 4.93 | 9.14 | 4.28 |
| Asset Turnover | 0.65 | 0.61 | 0.48 | 0.41 | 0.33 | 0.24 |
| Inventory Turnover | 1.85 | 1.80 | 1.83 | 1.88 | 1.72 | 1.18 |
| Quick Ratio | 1.83 | 1.32 | 0.78 | 0.85 | 0.87 | 0.86 |
| Current Ratio | 2.87 | 2.35 | 2.01 | 2.63 | 2.46 | 2.63 |
| Return on Equity (ROE) | 35.31% | 31.48% | 15.08% | 6.88% | 0.49% | -0.46% |
| Return on Assets (ROA) | 20.64% | 16.71% | 8.32% | 4.56% | 2.09% | 0.77% |
| Return on Invested Capital (ROIC) | 38.87% | 30.89% | 11.97% | 5.53% | 1.26% | -0.63% |
| Return on Capital Employed (ROCE) | 34.60% | 28.30% | 14.50% | 7.80% | 3.60% | 1.40% |
| Earnings Yield | 13.05% | 7.02% | 8.32% | 5.58% | -11.81% | 3.04% |
| FCF Yield | 10.82% | 7.48% | 11.21% | 5.27% | 4.73% | 3.65% |
| Dividend Yield | 0.78% | 0.48% | 1.29% | 1.98% | 2.86% | 2.05% |
| Payout Ratio | 5.96% | 6.36% | 15.55% | 35.38% | 68.31% | |
| Buyback Yield / Dilution | 2.53% | 0.80% | 0.18% | 4.34% | -2.68% | 0.70% |
| Total Shareholder Return | 3.30% | 1.28% | 1.47% | 6.32% | 0.18% | 2.76% |