Is the business good?
How good a business is KGC?
Kinross Gold Corporation earns 39% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
39%
Return on invested capital · cost of capital 9.0% · 30 points above what the capital costs: growth creates value
- Operating margin
- 46%
Operating margin · Gold median 39% · fiscal year to FY2025
- Cash conversion
- 1.07×
Cash conversion · 1.45× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.80%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 45% |
| FY2021 | 2.8% |
| FY2022 | 3.4% |
| FY2023 | 19% |
| FY2024 | 30% |
| FY2025 | 46% |
Details›
- Gross marginfiscal year to FY2025
- 53%
- Operating marginfiscal year to FY2025
- 46%
- Net marginfiscal year to FY2025
- 34%
- Free cash flow margin
- 36%
- Revenue, trailing twelve months
- $7.05B
- Free cash flow, trailing twelve months
- $2.57B
- Net income, trailing twelve months
- $2.39B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 39%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.