KINROSS GOLD CORP
KGC, KGCRF · Gold and Silver Ores · EDGAR filings ↗
Grade
B83Kinross is a high-return gold miner with exceptional FY2025 returns and cash generation, but commodity cyclicality caps the moat.
Strengths
- Top-decile ROA (19.9%, 97th pct), ROE 28% (87th pct), ROIC 27% and FCF at the 100th pct
- Strong margins (operating 46%, 84th pct), 148% net income growth, low debt and 40x interest coverage
Risks
- Gold-price-driven results — no durable pricing moat; returns swing with the commodity cycle
- Geopolitical/jurisdictional exposure (Mauritania, Brazil, Chile) and reserve-replacement risk
Notable findings
- Strong balance sheetStrong balance sheet — $1.7B cash & investments
Key metrics
Gross margin
52.7%
Operating margin
46.5%
Net margin
35.0%
Return on equity
28.4%
Return on assets
19.9%
ROIC
27.5%
Revenue growth (QoQ)
36.9%
Net-income growth
148.5%
Debt / equity
0.1×
Interest coverage
40.1×
Current ratio
2.3×
Free cash flow
$2.6B
Tangible book value
$8.7B
Cash & investments
$1.7B
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-26 | 2025-12-31 | 0001104659-26-035268 ↗ |
| 40-F | 2025-03-27 | 2024-12-31 | 0001104659-25-028819 ↗ |
| 40-F | 2024-03-27 | 2023-12-31 | 0001104659-24-039723 ↗ |
| 40-F | 2023-03-31 | 2022-12-31 | 0001104659-23-040149 ↗ |
| 40-F | 2022-03-31 | 2021-12-31 | 0001104659-22-041156 ↗ |
| 40-F | 2021-03-30 | 2020-12-31 | 0001104659-21-043926 ↗ |
| 40-F | 2020-03-30 | 2019-12-31 | 0001104659-20-039814 ↗ |
| 40-F | 2019-03-29 | 2018-12-31 | 0001104659-19-018715 ↗ |
| 40-F | 2018-03-29 | 2017-12-31 | 0001104659-18-021288 ↗ |
| 40-F | 2017-04-03 | 2016-12-31 | 0001104659-17-020750 ↗ |
| 40-F | 2016-03-30 | 2015-12-31 | 0001104659-16-108516 ↗ |
| 40-F | 2015-03-31 | 2014-12-31 | 0001104659-15-024688 ↗ |