Filing Flows › Newmont (NEM) › Q4 2025
Newmont (NEM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Newmont (NEM) reported revenue of $6.8B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +23% from the quarter before. Operating margin was 45.0%, net earnings $1.3B (19.1% of revenue).
Newmont, Q4 2025: revenue $6.8B (+21% year over year), operating margin 45.0%, net earnings $1.3B, operating cash flow $3.6B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.8B | +23% | +21% |
| Operating profit | $3.1B | +19% | +57% |
| Net earnings | $1.3B | -29% | -7% |
| Operating cash flow | $3.6B | +58% | +44% |
| Free cash flow | $2.8B | +79% | +72% |
What changed
Revenue was $6.8B in Q4 2025, up 21% year over year and up 23% from the previous quarter. Gold Dore was the largest line at 65% of revenue.
Operating profit was $3.1B, a 45.0% margin (up 10.3 points year over year). Of the extra revenue versus a year earlier, 95% reached operating profit, above the 35% margin then. Total costs grew 2% against revenue growth of 21%. The fastest-growing cost line was Other operating costs (+41%). Net earnings were $1.3B, down 7% year over year. The effective tax rate was 60.6%.
Operating cash flow was $3.6B (up 44% year over year), 269% of net income including minority interests. Non-cash charges added back $0.67B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $1.6B. Capital expenditures of $0.81B left free cash flow of $2.8B.
Questions
What was Newmont's revenue in the fourth quarter 2025?
Newmont (NEM) reported revenue of $6.8B for the fourth quarter 2025 (Q4 2025), +21% from a year earlier and +23% from the quarter before.
Was Newmont profitable in the fourth quarter 2025?
Operating profit was $3.1B (45.0% of revenue) and net earnings $1.3B.
Source: Newmont 10-K on SEC EDGAR.