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KINROSS GOLD CORP (K.CA) Stock Fundamental Analysis

TSX:K - Toronto Stock Exchange - CA4969024047 - Common Stock - Currency: CAD

16.21  -1.18 (-6.79%)

Fundamental Rating

6

Overall K gets a fundamental rating of 6 out of 10. We evaluated K against 818 industry peers in the Metals & Mining industry. While K has a great profitability rating, there are some minor concerns on its financial health. K is valued quite cheap, but it does not seem to be growing. This makes K very considerable for value investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

K had positive earnings in the past year.
In the past year K had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: K reported negative net income in multiple years.
K had a positive operating cash flow in 4 of the past 5 years.
K.CA Yearly Net Income VS EBIT VS OCF VS FCFK.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M 1B 1.5B

1.2 Ratios

The Return On Assets of K (6.87%) is better than 92.26% of its industry peers.
K has a better Return On Equity (11.11%) than 92.93% of its industry peers.
With an excellent Return On Invested Capital value of 9.08%, K belongs to the best of the industry, outperforming 94.97% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for K is significantly below the industry average of 11.89%.
The last Return On Invested Capital (9.08%) for K is above the 3 year average (5.57%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.87%
ROE 11.11%
ROIC 9.08%
ROA(3y)0.08%
ROA(5y)4.09%
ROE(3y)-0.06%
ROE(5y)6.73%
ROIC(3y)5.57%
ROIC(5y)6.45%
K.CA Yearly ROA, ROE, ROICK.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 -20

1.3 Margins

K's Profit Margin of 15.23% is amongst the best of the industry. K outperforms 94.97% of its industry peers.
In the last couple of years the Profit Margin of K has declined.
The Operating Margin of K (24.70%) is better than 94.84% of its industry peers.
K's Operating Margin has improved in the last couple of years.
K has a Gross Margin of 31.95%. This is amongst the best in the industry. K outperforms 91.98% of its industry peers.
In the last couple of years the Gross Margin of K has grown nicely.
Industry RankSector Rank
OM 24.7%
PM (TTM) 15.23%
GM 31.95%
OM growth 3Y-14.17%
OM growth 5Y26%
PM growth 3Y-32.45%
PM growth 5YN/A
GM growth 3Y-10.21%
GM growth 5Y9.39%
K.CA Yearly Profit, Operating, Gross MarginsK.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20

6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), K is destroying value.
There is no outstanding debt for K. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
K.CA Yearly Shares OutstandingK.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B
K.CA Yearly Total Debt VS Total AssetsK.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

An Altman-Z score of 1.99 indicates that K is not a great score, but indicates only limited risk for bankruptcy at the moment.
K's Altman-Z score of 1.99 is in line compared to the rest of the industry. K outperforms 53.26% of its industry peers.
The Debt to FCF ratio of K is 1.67, which is an excellent value as it means it would take K, only 1.67 years of fcf income to pay off all of its debts.
K has a Debt to FCF ratio of 1.67. This is amongst the best in the industry. K outperforms 93.48% of its industry peers.
K has a Debt/Equity ratio of 0.19. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.19, K is doing worse than 71.88% of the companies in the same industry.
Even though the debt/equity ratio score it not favorable for K, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 1.67
Altman-Z 1.99
ROIC/WACC0.99
WACC9.21%
K.CA Yearly LT Debt VS Equity VS FCFK.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B

2.3 Liquidity

A Current Ratio of 1.61 indicates that K should not have too much problems paying its short term obligations.
K has a Current ratio (1.61) which is comparable to the rest of the industry.
A Quick Ratio of 0.63 indicates that K may have some problems paying its short term obligations.
K has a Quick ratio of 0.63. This is in the lower half of the industry: K underperforms 68.89% of its industry peers.
The current and quick ratio evaluation for K is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 1.61
Quick Ratio 0.63
K.CA Yearly Current Assets VS Current LiabilitesK.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

1

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 54.20% over the past year.
Measured over the past 5 years, K shows a small growth in Earnings Per Share. The EPS has been growing by 7.14% on average per year.
EPS 1Y (TTM)54.2%
EPS 3Y4.55%
EPS 5Y7.14%
EPS Q2Q%81.82%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%26.9%

3.2 Future

The Earnings Per Share is expected to decrease by -18.27% on average over the next years. This is quite bad
Based on estimates for the next years, K will show a decrease in Revenue. The Revenue will decrease by -9.15% on average per year.
EPS Next Y96.88%
EPS Next 2Y35.53%
EPS Next 3Y16.74%
EPS Next 5Y-18.27%
Revenue Next Year5.17%
Revenue Next 2Y1.81%
Revenue Next 3Y-0.81%
Revenue Next 5Y-9.15%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
K.CA Yearly Revenue VS EstimatesK.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B 5B
K.CA Yearly EPS VS EstimatesK.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.2 0.4 0.6 0.8

8

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 16.71 indicates a correct valuation of K.
Based on the Price/Earnings ratio, K is valued cheaper than 90.76% of the companies in the same industry.
K's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.27.
With a Price/Forward Earnings ratio of 11.99, the valuation of K can be described as very reasonable.
K's Price/Forward Earnings ratio is rather cheap when compared to the industry. K is cheaper than 90.76% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 96.48, K is valued rather cheaply.
Industry RankSector Rank
PE 16.71
Fwd PE 11.99
K.CA Price Earnings VS Forward Price EarningsK.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, K is valued cheaper than 92.66% of the companies in the same industry.
94.70% of the companies in the same industry are more expensive than K, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 13.7
EV/EBITDA 6.85
K.CA Per share dataK.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

K's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
K has an outstanding profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as K's earnings are expected to grow with 16.74% in the coming years.
PEG (NY)0.17
PEG (5Y)2.34
EPS Next 2Y35.53%
EPS Next 3Y16.74%

5

5. Dividend

5.1 Amount

K has a yearly dividend return of 0.96%, which is pretty low.
K's Dividend Yield is rather good when compared to the industry average which is at 7.63. K pays more dividend than 95.52% of the companies in the same industry.
With a Dividend Yield of 0.96, K pays less dividend than the S&P500 average, which is at 2.31.
Industry RankSector Rank
Dividend Yield 0.96%

5.2 History

The dividend of K is nicely growing with an annual growth rate of 8.50%!
K has paid a dividend for at least 10 years, which is a reliable track record.
K has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)8.5%
Div Incr Years0
Div Non Decr Years4
K.CA Yearly Dividends per shareK.CA Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 0.02 0.04 0.06 0.08 0.1

5.3 Sustainability

19.96% of the earnings are spent on dividend by K. This is a low number and sustainable payout ratio.
DP19.96%
EPS Next 2Y35.53%
EPS Next 3Y16.74%
K.CA Yearly Income VS Free CF VS DividendK.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M 1B
K.CA Dividend Payout.K.CA Dividend Payout, showing the Payout Ratio.K.CA Dividend Payout.PayoutRetained Earnings

KINROSS GOLD CORP

TSX:K (2/13/2025, 7:00:00 PM)

16.21

-1.18 (-6.79%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-05 2024-11-05/amc
Earnings (Next)02-12 2025-02-12/amc
Inst Owners65.21%
Inst Owner ChangeN/A
Ins Owners0.35%
Ins Owner ChangeN/A
Market Cap19.92B
Analysts81.33
Price Target18.47 (13.94%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.96%
Yearly Dividend0.12
Dividend Growth(5Y)8.5%
DP19.96%
Div Incr Years0
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)13.85%
Min EPS beat(2)1.8%
Max EPS beat(2)25.89%
EPS beat(4)4
Avg EPS beat(4)24.57%
Min EPS beat(4)1.8%
Max EPS beat(4)57.06%
EPS beat(8)8
Avg EPS beat(8)34.17%
EPS beat(12)9
Avg EPS beat(12)17.01%
EPS beat(16)11
Avg EPS beat(16)15.06%
Revenue beat(2)2
Avg Revenue beat(2)15.47%
Min Revenue beat(2)12.29%
Max Revenue beat(2)18.64%
Revenue beat(4)4
Avg Revenue beat(4)15.38%
Min Revenue beat(4)12.29%
Max Revenue beat(4)18.64%
Revenue beat(8)7
Avg Revenue beat(8)8.77%
Revenue beat(12)7
Avg Revenue beat(12)-0.78%
Revenue beat(16)8
Avg Revenue beat(16)-3.81%
PT rev (1m)0%
PT rev (3m)14.44%
EPS NQ rev (1m)0.23%
EPS NQ rev (3m)152.65%
EPS NY rev (1m)2.59%
EPS NY rev (3m)14.42%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)5.33%
Valuation
Industry RankSector Rank
PE 16.71
Fwd PE 11.99
P/S 2.87
P/FCF 13.7
P/OCF 6.56
P/B 2.1
P/tB 2.1
EV/EBITDA 6.85
EPS(TTM)0.97
EY5.98%
EPS(NY)1.35
Fwd EY8.34%
FCF(TTM)1.18
FCFY7.3%
OCF(TTM)2.47
OCFY15.24%
SpS5.64
BVpS7.73
TBVpS7.73
PEG (NY)0.17
PEG (5Y)2.34
Profitability
Industry RankSector Rank
ROA 6.87%
ROE 11.11%
ROCE 12.61%
ROIC 9.08%
ROICexc 9.56%
ROICexgc 9.56%
OM 24.7%
PM (TTM) 15.23%
GM 31.95%
FCFM 20.97%
ROA(3y)0.08%
ROA(5y)4.09%
ROE(3y)-0.06%
ROE(5y)6.73%
ROIC(3y)5.57%
ROIC(5y)6.45%
ROICexc(3y)5.83%
ROICexc(5y)6.97%
ROICexgc(3y)5.87%
ROICexgc(5y)7.06%
ROCE(3y)7.73%
ROCE(5y)8.95%
ROICexcg growth 3Y-18.08%
ROICexcg growth 5Y25.07%
ROICexc growth 3Y-17.55%
ROICexc growth 5Y25.65%
OM growth 3Y-14.17%
OM growth 5Y26%
PM growth 3Y-32.45%
PM growth 5YN/A
GM growth 3Y-10.21%
GM growth 5Y9.39%
F-Score7
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 1.67
Debt/EBITDA 0.54
Cap/Depr 97.51%
Cap/Sales 22.81%
Interest Coverage 8.26
Cash Conversion 91.03%
Profit Quality 137.65%
Current Ratio 1.61
Quick Ratio 0.63
Altman-Z 1.99
F-Score7
WACC9.21%
ROIC/WACC0.99
Cap/Depr(3y)106.8%
Cap/Depr(5y)116.06%
Cap/Sales(3y)24.4%
Cap/Sales(5y)25.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)54.2%
EPS 3Y4.55%
EPS 5Y7.14%
EPS Q2Q%81.82%
EPS Next Y96.88%
EPS Next 2Y35.53%
EPS Next 3Y16.74%
EPS Next 5Y-18.27%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%26.9%
Revenue Next Year5.17%
Revenue Next 2Y1.81%
Revenue Next 3Y-0.81%
Revenue Next 5Y-9.15%
EBIT growth 1Y31.67%
EBIT growth 3Y-14%
EBIT growth 5Y33.19%
EBIT Next Year221.63%
EBIT Next 3Y46.68%
EBIT Next 5Y6.63%
FCF growth 1Y2272.44%
FCF growth 3Y-21.33%
FCF growth 5YN/A
OCF growth 1Y174.55%
OCF growth 3Y-6.4%
OCF growth 5Y15.27%