Kinross Gold Corporation
NYSE: KGC · BASIC MATERIALS · GOLD
Updated 2026-06-12
Kinross Gold Corporation (KGC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $905.60M | $1.09B | $1.62B | $2.41B | $3.01B | $3.84B | $4.31B | $3.78B | $3.47B | $3.05B | $3.47B | $3.30B | $3.21B | $3.50B | $4.21B | $2.60B | $3.46B | $4.24B | $5.15B | $7.17B |
| Revenue growth (YoY) | — | +20.7% | +47.9% | +49.2% | +24.8% | +27.7% | +12.1% | -12.3% | -8.3% | -11.9% | +13.8% | -4.9% | -2.7% | +8.9% | +20.5% | -38.3% | +32.9% | +22.7% | +21.4% | +39.3% |
| Cost of revenue | $547.10M | $667.20M | $1.07B | $1.51B | $1.80B | $5.05B | $6.06B | $6.00B | $4.10B | $3.43B | $2.98B | $2.60B | $2.63B | $2.15B | $1.92B | $2.06B | $2.94B | $3.08B | $3.27B | $3.77B |
| Gross profit | $358.50M | $425.80M | $549.70M | $898.40M | $1.21B | $-1.21B | $-1.75B | $-2.22B | $-631.00M | $-379.30M | $493.60M | $704.70M | $579.70M | $1.35B | $2.30B | $541.10M | $515.40M | $1.16B | $1.88B | $3.40B |
| Gross margin | 39.6% | 39.0% | 34.0% | 37.2% | 40.2% | -31.4% | -40.6% | -58.8% | -18.2% | -12.4% | 14.2% | 21.3% | 18.0% | 38.6% | 54.5% | 20.8% | 14.9% | 27.4% | 36.5% | 47.5% |
| R&D | $39.40M | $47.30M | $59.00M | $72.50M | $142.70M | $136.40M | $234.90M | $147.10M | $105.60M | $108.00M | $94.30M | $106.00M | $109.20M | $113.50M | — | — | — | — | — | — |
| SG&A | $85.60M | $80.50M | $125.50M | $137.00M | $173.50M | $173.60M | $179.10M | $176.60M | $178.80M | $179.40M | $143.70M | $132.60M | $133.00M | $135.80M | $117.90M | $114.40M | $129.80M | $108.70M | $126.20M | $139.90M |
| Operating income | $201.50M | $226.90M | $-611.60M | $645.90M | $648.90M | $-1.58B | $-2.24B | $-2.64B | $-1.03B | $-742.90M | $46.30M | $336.50M | $200.50M | $991.10M | $1.90B | $72.10M | $117.70M | $801.40M | $1.54B | $3.10B |
| Operating margin | 22.3% | 20.8% | -37.8% | 26.8% | 21.6% | -41.0% | -52.0% | -69.7% | -29.6% | -24.3% | 1.3% | 10.2% | 6.2% | 28.3% | 45.1% | 2.8% | 3.4% | 18.9% | 29.9% | 43.2% |
| EBITDA | $309.80M | $356.20M | $-305.90M | $1.04B | $1.85B | $-927.40M | $-1.59B | $-2.09B | $-390.70M | $118.20M | $895.90M | $1.32B | $957.70M | $1.77B | $2.73B | $851.60M | $958.90M | $1.76B | $2.68B | $4.27B |
| EBITDA margin | 34.2% | 32.6% | -18.9% | 43.0% | 61.4% | -24.1% | -36.8% | -55.2% | -11.3% | 3.9% | 25.8% | 40.1% | 29.8% | 50.7% | 64.8% | 32.8% | 27.8% | 41.6% | 52.0% | 59.6% |
| EBIT | $201.50M | $226.90M | $-579.70M | $590.70M | $1.25B | $-1.49B | $-2.27B | $-2.91B | $-1.27B | $-779.50M | $40.90M | $505.50M | $185.30M | $1.04B | $1.89B | $155.90M | $174.90M | $777.60M | $1.53B | $3.10B |
| Interest expense | $15.70M | $362.90M | $74.60M | $19.10M | $48.50M | $44.50M | $24.80M | $25.10M | $52.00M | $68.20M | $100.40M | $86.50M | $72.10M | $76.90M | $89.60M | $71.60M | $68.20M | $69.00M | $50.50M | $83.23M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $165.80M | $334.80M | $-807.20M | $309.90M | $771.60M | $-2.07B | $-2.50B | $-3.74B | $-1.17B | $-984.50M | $-104.00M | $445.40M | $-23.60M | $718.60M | $1.34B | $221.20M | $-605.20M | $416.30M | $948.80M | $2.43B |
| Net income growth (YoY) | — | +101.9% | -341.1% | +138.4% | +149.0% | -368.7% | -20.8% | -49.4% | +68.8% | +15.6% | +89.4% | +528.3% | -105.3% | +3144.9% | +86.8% | -83.5% | -373.6% | +168.8% | +127.9% | +156.3% |
| Profit margin | 18.3% | 30.6% | -49.9% | 12.8% | 25.6% | -54.0% | -58.2% | -99.0% | -33.7% | -32.3% | -3.0% | 13.5% | -0.7% | 20.5% | 31.9% | 8.5% | -17.5% | 9.8% | 18.4% | 33.9% |
Frequently asked questions
What is Kinross Gold Corporation's revenue?
Kinross Gold Corporation's trailing twelve-month revenue is $7.96B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is KGC?
In its most recent fiscal year, KGC ran a gross margin of 47.45%, an operating margin of 43.19%, and a net margin of 33.90%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does KGC generate?
KGC produced $2.57B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is KGC's balance sheet healthy?
KGC holds $1.75B in cash and equivalents against $738.20M in long-term debt, on $8.56B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.