New Gold Inc. (NGD) Financials
Newest figures come from the 10-K for FY2024, filed Feb 24, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NGD SEC filings page.
New Gold Inc. (NGD) reported $924.5M in revenue for fiscal year 2024, up 17.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
The business is converting recovery into cash, but heavy reinvestment and a thinner short-term cushion make earnings only part of the story.
Cash generation in FY2024 reached$392.8M , nearly four times net income of$102.6M , so reported profit understates the cash produced. The$248.1M depreciation charge alongside$263.4M of investing outflows shows that cash generation is shaped heavily by non-cash charges and continued asset investment, not earnings alone.
The balance sheet became less liability-heavy: total liabilities fell from
Top-line recovery was substantial, with revenue rising from
Financial Health Signals
New Gold Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
New Gold Inc. passes 6 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), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, New Gold Inc. generates $3.83 in operating cash flow ($392.8M OCF vs $102.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2024.
Cash & Balance Sheet
New Gold Inc. held $105.2M in cash against $2.0M in long-term debt as of Q4 2024, with $196.6M of liabilities due within a year.
Not reported for Q4 2024.
Not reported for Q4 2024.
Margins & Returns
None of these metrics is reported for Q4 2024.
Capital Allocation
None of these metrics is reported for Q4 2024.
NGD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
NGD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K | Q4'1710-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B-12.3% | $2.3B+1.9% | $2.2B-9.4% | $2.5B+10.1% | $2.3B+4.2% | $2.2B-0.5% | $2.2B-46.0% | $4.0B+2.1% |
| Current Assets | $274.1M-22.1% | $351.8M-6.8% | $377.5M-45.0% | $686.3M+63.9% | $418.8M+82.7% | $229.2M-21.1% | $290.4M-36.2% | $455.0M+11.0% |
| Cash & Equivalents | $105.2M-43.3% | $185.5M-7.6% | $200.8M-58.3% | $481.5M+158.5% | $186.3M+123.4% | $83.4M-19.6% | $103.7M-52.0% | $216.2M+16.3% |
| Inventory | $118.7M-6.3% | $126.7M+9.5% | $115.7M+14.6% | $101.0M+8.3% | $93.3M-15.2% | $110.0M-22.4% | $141.8M-26.6% | $193.2M+28.5% |
| Accounts Receivable | $26.2M+60.7% | $16.3M+15.6% | $14.1M-46.6% | $26.4M-65.8% | $77.1M+225.3% | $23.7M-34.0% | $35.9M+32.5% | $27.1M-27.0% |
| Total Liabilities | $951.5M-36.4% | $1.5B+16.6% | $1.3B-15.6% | $1.5B+4.1% | $1.5B+22.0% | $1.2B-2.3% | $1.2B-34.8% | $1.9B+1.0% |
| Current Liabilities | $196.6M-14.1% | $229.0M+33.8% | $171.2M-1.0% | $172.9M+8.9% | $158.7M-7.7% | $171.9M+31.3% | $130.9M-27.8% | $181.2M+3.3% |
| Non-Current Liabilities | $754.9M-40.5% | $1.3B+13.9% | $1.1B-17.4% | $1.3B+3.5% | $1.3B+27.0% | $1.0B-6.3% | $1.1B-35.5% | $1.7B+0.7% |
| Long-Term Debt | $2.0M-23.1% | $2.6M+100.0% | $1.3M-87.9% | $10.7M-45.1% | $19.5M-18.4% | $23.9M+168.5% | $8.9M-99.5% | $1.8B+10.5% |
| Total Equity | $1.1B+33.3% | $789.2M-17.7% | $959.5M+0.4% | $955.9M+21.1% | $789.3M-17.9% | $961.3M+1.8% | $944.5M-55.9% | $2.1B+3.2% |
| Retained Earnings | -$2.4B-0.5% | -$2.3B-2.8% | -$2.3B-3.0% | -$2.2B+6.0% | -$2.4B-3.5% | -$2.3B-3.3% | -$2.2B-129.0% | -$961.3M-12.7% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill.
NGD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
NGD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| New Gold Inc. NGD | FY2024 | $924.5M | $102.6M | 11.1% | $7.2B | — |
| IAMGold Corporation IAG | FY2025 | $2.9B | $732.3M | 25.7% | $10.7B | 43/100 |
| Eldorado Gold Corporation EGO | FY2025 | $1.8B | $504.3M | 27.7% | $9.8B | 39/100 |
| SSR Mining Inc. SSRM | FY2025 | $1.6B | $395.8M | 24.3% | $7.2B | 55/100 |
| B2Gold Corp. BTG | FY2025 | N/A | $426.7M | N/A | $6.9B | — |
| Equinox Gold Corp. EQX | FY2025 | $1.8B | $221.5M | 12.2% | $13.3B | 35/100 |
Where New Gold Inc. Ranks
Frequently Asked Questions
What is New Gold Inc.'s annual revenue?
New Gold Inc. (NGD) reported $924.5M in total revenue for fiscal year 2024. This represents a 17.5% 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 New Gold Inc.'s revenue growing?
New Gold Inc. (NGD) revenue grew by 17.5% year-over-year, from $786.5M to $924.5M in fiscal year 2024.
Is New Gold Inc. profitable?
Yes, New Gold Inc. (NGD) reported a net income of $102.6M in fiscal year 2024, with a net profit margin of 11.1%.
How much debt does New Gold Inc. have?
As of fiscal year 2024, New Gold Inc. (NGD) had $105.2M in cash and equivalents against $2.0M in long-term debt.
What is New Gold Inc.'s net profit margin?
New Gold Inc. (NGD) had a net profit margin of 11.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is New Gold Inc.'s return on equity (ROE)?
New Gold Inc. (NGD) has a return on equity of 9.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is New Gold Inc.'s operating cash flow?
New Gold Inc. (NGD) generated $392.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are New Gold Inc.'s total assets?
New Gold Inc. (NGD) had $2.0B in total assets as of fiscal year 2024, including both current and long-term assets.
What is New Gold Inc.'s current ratio?
New Gold Inc. (NGD) had a current ratio of 1.39 as of fiscal year 2024, which is considered adequate.
What is New Gold Inc.'s debt-to-equity ratio?
New Gold Inc. (NGD) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is New Gold Inc.'s return on assets (ROA)?
New Gold Inc. (NGD) had a return on assets of 5.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is New Gold Inc.'s Piotroski F-Score?
New Gold Inc. (NGD) has a Piotroski F-Score of 6 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 New Gold Inc.'s earnings high quality?
New Gold Inc. (NGD) has an earnings quality ratio of 3.83x, 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.