Filing Flows › Materials › Kinross Gold (KGC)

Kinross Gold (KGC) earnings and revenue breakdown

Latest: FY2025 · 40-F filed Mar 26, 2026 · Kinross Gold (KGC) FY2025 earnings results →

FY2025 Revenue up 37% year over year to $7.1B · 34¢ of every $1 of revenue kept as net profit · operating margin 46.5%

Kinross Gold made $7.1B in FY2025 (+37% Y/Y). Operating margin 46.5%, net earnings $2.4B. See where every dollar goes — costs, profit and cash — as a Sankey from the 40-F filed Mar 26, 2026.

Revenue$7.1B

Year over year+37%

Operating margin46.5%

Net earnings$2.4B

Operating cash flow$3.8B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $7.1B in FY2025, up 37% year over year.

Gross margin was 52.7%, up 16.2 points from FY2024. Operating profit was $3.3B, a 46.5% margin (up 16.6 points year over year). Of the extra revenue versus FY2024, 91% reached operating profit, above the 30% margin then. Operating expenses grew 30% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+41%). Net earnings were $2.4B, up 152% year over year. The effective tax rate was 22.7%.

Operating cash flow was $3.8B (up 54% year over year), 152% of net income including minority interests. Non-cash charges added back $1.1B of depreciation and amortization and $0.07B of share-based compensation. Capital expenditures of $1.2B left free cash flow of $2.6B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
FY2025	40-F	Mar 26, 2026	$7.1B	+37%	46.5%	$2.4B	$3.8B
FY2024	40-F	Mar 27, 2025	$5.1B	+21%	29.9%	$949M	$2.4B

Charts

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Gold and Silver Ores; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Gold & silver miners · Gold miners