Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Newmont Corp., liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.25 | 2.23 | 2.90 | 2.52 | 2.63 | |
| Quick ratio | 0.71 | 1.52 | 2.04 | 1.86 | 1.20 | |
| Cash ratio | 0.50 | 1.28 | 1.91 | 1.73 | 1.04 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Newmont Corp. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Newmont Corp. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Newmont Corp. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Current Ratio
Newmont Corp., current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 7,512) | 6,515) | 7,696) | 8,505) | 6,272) | |
| Current liabilities | 5,998) | 2,926) | 2,654) | 3,369) | 2,385) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.25 | 2.23 | 2.90 | 2.52 | 2.63 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 2.42 | 2.46 | 2.52 | 2.72 | 2.47 | |
| Current Ratio, Industry | ||||||
| Materials | 1.14 | 1.20 | 1.19 | 1.14 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 7,512 ÷ 5,998 = 1.25
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Newmont Corp. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Quick Ratio
Newmont Corp., quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,002) | 2,877) | 4,992) | 5,540) | 2,243) | |
| Time deposits and other investments | 23) | 880) | 82) | 290) | 237) | |
| Trade receivables | 734) | 366) | 337) | 449) | 373) | |
| Other receivables | 493) | 324) | —) | —) | —) | |
| Total quick assets | 4,252) | 4,447) | 5,411) | 6,279) | 2,853) | |
| Current liabilities | 5,998) | 2,926) | 2,654) | 3,369) | 2,385) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.71 | 1.52 | 2.04 | 1.86 | 1.20 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 1.31 | 1.58 | 1.66 | 1.48 | 0.99 | |
| Quick Ratio, Industry | ||||||
| Materials | 0.71 | 0.80 | 0.78 | 0.71 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 4,252 ÷ 5,998 = 0.71
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Newmont Corp. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Cash Ratio
Newmont Corp., cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,002) | 2,877) | 4,992) | 5,540) | 2,243) | |
| Time deposits and other investments | 23) | 880) | 82) | 290) | 237) | |
| Total cash assets | 3,025) | 3,757) | 5,074) | 5,830) | 2,480) | |
| Current liabilities | 5,998) | 2,926) | 2,654) | 3,369) | 2,385) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.50 | 1.28 | 1.91 | 1.73 | 1.04 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 1.03 | 1.30 | 1.37 | 1.07 | 0.63 | |
| Cash Ratio, Industry | ||||||
| Materials | 0.39 | 0.48 | 0.44 | 0.35 | — | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,025 ÷ 5,998 = 0.50
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Newmont Corp. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |