Kinross Gold Financials
Kinross Gold (KGC) reported $7.1B in revenue for fiscal year 2025, up 36.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Kinross’s recent operating model is capital-heavy but increasingly cash-rich, with a similar asset base producing much more spendable cash.
Free cash flow scaling accelerated because operating cash generation outpaced reinvestment: operating cash flow rose from$1.61B in FY2023 to$3.76B in FY2025. With capital spending still near$1.19B , free cash flow reached$2.57B , which says the business was extracting more cash from existing operations rather than merely spending more to expand.
Liquidity improved even while money left the financing line: cash ended FY2025 at
Profitability improved faster than the balance sheet grew: return on assets climbed from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kinross Gold's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Kinross Gold, and counted as zero in the overall score.
Kinross Gold's revenue surged 36.9% year-over-year to $7.1B, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Kinross Gold carries a low D/E ratio of 0.08, meaning only $0.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.35, Kinross Gold holds $2.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.
Kinross Gold converts 36.4% of revenue into free cash flow ($2.6B). This strong cash generation earns a score of 94/100.
Not available for Kinross Gold, and counted as zero in the overall score.
Kinross Gold passes 8 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Kinross Gold generates $1.52 in operating cash flow ($3.8B OCF vs $2.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Kinross Gold generated $7.1B in revenue in fiscal year 2025. This represents an increase of 36.9% from the prior year.
Kinross Gold reported $2.5B in net income in fiscal year 2025. This represents an increase of 148.5% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Kinross Gold generated $2.6B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 87.2% from the prior year.
Kinross Gold held $1.7B in cash against $738.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Kinross Gold's net profit margin was 35.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.7 percentage points from the prior year.
Kinross Gold's ROE was 28.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 14.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Kinross Gold invested $1.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 11.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
KGC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1B+36.9% | $5.1B+21.4% | $4.2B+22.7% | $3.5B+32.9% | $2.6B-38.3% | $4.2B+20.5% | $3.5B+8.9% | $3.2B-2.7% | $3.3B | N/A |
| Income Tax | $724.7M+48.7% | $487.4M+66.2% | $293.2M+285.3% | $76.1M-33.8% | $115.0M-73.9% | $439.8M+78.3% | $246.7M+77.7% | $138.8M+698.3% | -$23.2M-146.8% | $49.6M |
| Net Income | $2.5B+148.5% | $994.0M+139.3% | $415.4M+168.6% | -$605.7M-377.0% | $218.7M-83.9% | $1.4B+89.5% | $717.1M+2901.2% | -$25.6M-105.8% | $442.2M+505.3% | -$109.1M |
| EPS (Diluted) | N/A | N/A | $0.34+1600.0% | $0.02+200.0% | -$0.02 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense.
KGC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.4B+14.2% | $10.9B+3.1% | $10.5B+1.4% | $10.4B-0.3% | $10.4B-4.6% | $10.9B+20.5% | $9.1B+12.6% | $8.1B-1.1% | $8.2B+2.2% | $8.0B |
| Current Assets | $3.3B+54.6% | $2.1B+18.0% | $1.8B-2.7% | $1.9B-4.9% | $1.9B-20.4% | $2.4B+34.3% | $1.8B+14.2% | $1.6B-30.1% | $2.3B+9.8% | $2.1B |
| Cash & Equivalents | $1.7B+184.9% | $611.5M+73.5% | $352.4M-15.7% | $418.1M-21.3% | $531.5M-56.1% | $1.2B+110.6% | $575.1M+64.8% | $349.0M-66.0% | $1.0B+24.0% | $827.0M |
| Inventory | $1.4B+10.2% | $1.2B+7.8% | $1.2B+7.5% | $1.1B-6.9% | $1.2B+7.3% | $1.1B+1.8% | $1.1B+0.2% | $1.1B-3.9% | $1.1B+10.9% | $986.8M |
| Accounts Receivable | $30.5M-42.0% | $52.6M-10.1% | $58.5M-81.6% | $318.2M+48.3% | $214.5M+85.2% | $115.8M-15.7% | $137.4M+35.5% | $101.4M+11.1% | $91.3M-28.3% | $127.3M |
| Goodwill | N/A | N/A | N/A | N/A | $158.8M0.0% | $158.8M0.0% | $158.8M-2.4% | $162.7M0.0% | $162.7M0.0% | $162.7M |
| Total Liabilities | $3.7B-3.8% | $3.9B-11.3% | $4.4B-3.5% | $4.5B+19.5% | $3.8B-11.5% | $4.3B+14.1% | $3.7B+5.9% | $3.5B0.0% | $3.5B-6.8% | $3.8B |
| Current Liabilities | $1.4B+32.0% | $1.1B+54.6% | $685.5M-8.8% | $751.5M+1.4% | $741.4M-45.0% | $1.3B+119.1% | $615.5M+0.5% | $612.4M+4.6% | $585.3M-8.2% | $637.7M |
| Long-Term Debt | $738.2M-48.6% | $1.4B+8102.3% | $17.5M-24.2% | $23.1M-34.2% | $35.1M-24.2% | $46.3M+19.0% | $38.9M+9.3% | $35.6M-97.9% | $1.7B0.0% | $1.7B |
| Total Equity | $8.7B+24.2% | $7.0B+13.2% | $6.2B+5.2% | $5.9B-11.5% | $6.6B-0.2% | $6.7B+24.9% | $5.3B+17.8% | $4.5B-2.0% | $4.6B+10.4% | $4.2B |
| Retained Earnings | -$5.9B+27.4% | -$8.2B+8.9% | -$9.0B+2.9% | -$9.3B-8.9% | -$8.5B+0.8% | -$8.6B+12.9% | -$9.8B+6.8% | -$10.5B+0.3% | -$10.6B+4.0% | -$11.0B |
KGC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.8B+53.7% | $2.4B+52.4% | $1.6B | N/A | $1.1B-42.0% | $2.0B+59.8% | $1.2B+55.3% | $788.7M-17.1% | $951.6M-13.4% | $1.1B |
| Capital Expenditures | $1.2B+11.0% | $1.1B-2.1% | $1.1B+43.7% | $764.2M-7.0% | $821.7M-10.3% | $916.1M-13.6% | $1.1B+1.6% | $1.0B+16.2% | $897.6M+41.6% | $633.8M |
| Free Cash Flow | $2.6B+87.2% | $1.4B+170.4% | $507.0M | N/A | $313.5M-69.9% | $1.0B+532.4% | $164.7M+164.7% | -$254.7M-571.7% | $54.0M-88.4% | $465.4M |
| Investing Cash Flow | N/A | N/A | N/A | N/A | -$1.2B+4.5% | -$1.2B-21.7% | -$1.0B+26.0% | -$1.4B-101.8% | -$687.2M+45.9% | -$1.3B |
| Financing Cash Flow | -$1.6B-61.8% | -$1.0B-83.2% | -$549.0M | N/A | -$623.2M-820.5% | -$67.7M-369.7% | $25.1M+134.6% | -$72.6M-5.2% | -$69.0M-42.9% | -$48.3M |
| Dividends Paid | $152.1M+3.1% | $147.5M+0.1% | $147.3M-4.4% | $154.0M+1.9% | $151.1M+100.1% | $75.5M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
KGC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 35.0%+15.7pp | 19.3%+9.5pp | 9.8%+27.3pp | -17.5%-25.9pp | 8.4%-23.8pp | 32.3%+11.8pp | 20.5%+21.3pp | -0.8%-14.2pp | 13.4% | N/A |
| Return on Equity | 28.4%+14.2pp | 14.2%+7.5pp | 6.7%+17.0pp | -10.3%-13.6pp | 3.3%-17.1pp | 20.4%+6.9pp | 13.5%+14.0pp | -0.6%-10.1pp | 9.6%+12.2pp | -2.6% |
| Return on Assets | 19.9%+10.8pp | 9.2%+5.2pp | 3.9%+9.8pp | -5.8%-7.9pp | 2.1%-10.3pp | 12.4%+4.5pp | 7.9%+8.2pp | -0.3%-5.7pp | 5.4%+6.8pp | -1.4% |
| Current Ratio | 2.35+0.3x | 2.01-0.6x | 2.63+0.2x | 2.47-0.2x | 2.63+0.8x | 1.82-1.1x | 2.96+0.4x | 2.61-1.3x | 3.90+0.6x | 3.26 |
| Debt-to-Equity | 0.08-0.1x | 0.20+0.2x | 0.000.0x | 0.000.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.01-0.4x | 0.380.0x | 0.41 |
| FCF Margin | 36.4%+9.8pp | 26.6%+14.7pp | 12.0% | N/A | 12.1%-12.7pp | 24.7%+20.0pp | 4.7%+12.6pp | -7.9%-9.6pp | 1.6% | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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Where Kinross Gold Ranks
Frequently Asked Questions
What is Kinross Gold's annual revenue?
Kinross Gold (KGC) reported $7.1B in total revenue for fiscal year 2025. This represents a 36.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kinross Gold's revenue growing?
Kinross Gold (KGC) revenue grew by 36.9% year-over-year, from $5.1B to $7.1B in fiscal year 2025.
Is Kinross Gold profitable?
Yes, Kinross Gold (KGC) reported a net income of $2.5B in fiscal year 2025, with a net profit margin of 35.0%.
How much debt does Kinross Gold have?
As of fiscal year 2025, Kinross Gold (KGC) had $1.7B in cash and equivalents against $738.2M in long-term debt.
What is Kinross Gold's net profit margin?
Kinross Gold (KGC) had a net profit margin of 35.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Kinross Gold's return on equity (ROE)?
Kinross Gold (KGC) has a return on equity of 28.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kinross Gold's free cash flow?
Kinross Gold (KGC) generated $2.6B in free cash flow during fiscal year 2025. This represents a 87.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kinross Gold's operating cash flow?
Kinross Gold (KGC) generated $3.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kinross Gold's total assets?
Kinross Gold (KGC) had $12.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kinross Gold's capital expenditures?
Kinross Gold (KGC) invested $1.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Kinross Gold's current ratio?
Kinross Gold (KGC) had a current ratio of 2.35 as of fiscal year 2025, which is generally considered healthy.
What is Kinross Gold's debt-to-equity ratio?
Kinross Gold (KGC) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kinross Gold's return on assets (ROA)?
Kinross Gold (KGC) had a return on assets of 19.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kinross Gold's Piotroski F-Score?
Kinross Gold (KGC) has a Piotroski F-Score of 8 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kinross Gold's earnings high quality?
Kinross Gold (KGC) has an earnings quality ratio of 1.52x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Kinross Gold?
Kinross Gold (KGC) scores 55 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.