Newmont Goldcorp Corp (NEM)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 6,951,000 | 5,575,000 | 5,574,000 | 5,572,000 | 5,571,000 | 5,569,000 | 5,568,000 | 5,566,000 | 5,565,000 | 4,990,000 | 4,989,000 | 4,988,000 | 5,480,000 | 5,479,000 | 5,478,000 | 6,030,000 | 6,138,000 | 6,139,000 | 5,475,000 | 3,420,000 |
| Total stockholders’ equity | US$ in thousands | 29,027,000 | 19,074,000 | 19,225,000 | 19,377,000 | 19,354,000 | 21,219,000 | 21,421,000 | 21,449,000 | 22,022,000 | 22,712,000 | 23,239,000 | 23,127,000 | 23,008,000 | 22,661,000 | 22,004,000 | 21,806,000 | 21,420,000 | 21,430,000 | 19,354,000 | 10,499,000 |
| Debt-to-equity ratio | 0.24 | 0.29 | 0.29 | 0.29 | 0.29 | 0.26 | 0.26 | 0.26 | 0.25 | 0.22 | 0.21 | 0.22 | 0.24 | 0.24 | 0.25 | 0.28 | 0.29 | 0.29 | 0.28 | 0.33 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $6,951,000K ÷ $29,027,000K
= 0.24
The debt-to-equity ratio of Newmont Corp has shown a consistent trend of improvement over the past eight quarters. The ratio decreased from 0.33 in Q4 2023 to 0.32 in the previous three quarters, which indicates that the company has been reducing its reliance on debt financing in relation to shareholder equity. This signifies a stronger financial position as lower debt levels typically indicate lower financial risk and higher solvency.
Comparing the current ratio of 0.32 to the same period last year, there has been a noticeable increase from 0.29 in Q4 2022, suggesting a more favorable capital structure for the company. Overall, Newmont Corp's decreasing debt-to-equity ratio over the past year demonstrates a prudent approach to managing its financial leverage and future obligations.