Barrick Mining Corp.
[B]
NYSE
MVPro™ Score: 73/100
Next Earnings: 06 May 2026
[B]
NYSE
MVPro™ Score: 73/100
Next Earnings: 06 May 2026
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| Capitalization (mln USD) | 69,596 |
| Revenue (mln USD) | 5,997 |
| EBITDA (mln USD) | 4,643 |
| Net Income (mln USD) | 2,406 |
| Net Margin | 40.12% |
| EPS Ratio (TTM, USD) | 2.98 |
| P/E Ratio (TTM) | 13.94 |
| P/S Ratio (TTM) | 4.53 |
| D/E Ratio | 0.59 |
| EV/EBITDA (TTM) | 7.82 |
| CAPEX (Q/Q) | 17.39% |
| Dividend Yield | 4.03% |
Revenue, EBITDA & Net Income
Company Overview
Barrick Gold Corporation, now know as Barrick Mining, was founded in 1983 and is headquartered in Toronto, Canada. Over the years, it has grown into one of the world’s leading mining companies, primarily engaged in the exploration, development, and production of gold and copper. The company operates a portfolio of high-quality assets across several continents, with key operations in North America, South America, Africa, and the Middle East.
Barrick’s main products are gold and copper, which are extracted from large-scale open-pit and underground mines. The company focuses on long-life mines with sustainable production profiles and strong margins. In addition to mining, Barrick invests in innovation and technology to improve efficiency and reduce environmental impact. Its business model emphasises responsible mining practices, operational excellence, and disciplined capital allocation.
The company is currently led by President and Chief Executive Officer Mark Bristow, who joined following the 2019 merger with Randgold Resources. Barrick’s mission is to be the world’s most valued gold and copper mining company by creating long-term value for all stakeholders. The company operates in both emerging and developed markets, and it places strong emphasis on ESG principles. Barrick publishes regular sustainability reports and is committed to reducing greenhouse gas emissions, protecting biodiversity.
🟡 P/E (Price to Earnings, TTM)
Price-to-earnings (P/E) ratio for the most recent quarter is 15.4, compared to 17.2 in the previous quarter, with a longer-term trend value of 28.5. This decline in the P/E ratio may indicate a shift in market sentiment, where investors are placing a lower premium on future earnings growth. A falling P/E ratio could be driven by slowing revenue growth, increased risk perception, or improved earnings performance that is outpacing stock price growth.
P/E Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (TTM)
P/E Ratio
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🟢 EPS (Earnings Per Share, TTM)
Barrick Mining's earnings per share (EPS) for the most recent quarter is 2.98 USD (+40.4%), compared to 2.12 USD in the previous quarter, with a longer-term trend value of 2.57 USD. This quarterly increase in EPS suggests improved profitability and operational efficiency.
EPS
Source: MarketVectors.Pro, Barrick Mining Financial Reports (TTM, USD)
EPS
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🟢 P/B (Price to Book)
Price-to-book (P/B) ratio for the most recent quarter stands at 2.89 (+18.0%), compared to 2.45 in the previous quarter, with a long-term trend value of 3.26. The rise in the P/B ratio suggests that investors are valuing the company’s assets at a higher multiple, potentially due to improved financial performance, asset appreciation, or heightened market optimism.
P/B Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports
P/B Ratio
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🟢 EBIT
EBIT for Barrick Mining in the most recent quarter is 3,000 million USD, compared to 2,085 million USD in the previous quarter, with a long-term trend value of 2,396 million USD. This increase reflects improved operational performance and higher profitability, aligning with the long-term growth trajectory.
EBIT
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
EBIT
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🟢 Risk Assessment
This assessment outlines the key risks that may impact the performance and strategic objectives of Barrick Mining in the context of its global operations.
Market Risk
Barrick Mining is exposed to fluctuations in global commodity prices, particularly gold and copper, which can significantly affect revenues and profitability. A slowdown in demand from major markets, such as China or the United States, may reduce commodity prices and impact earnings. Currency exchange rate volatility, especially in countries where Barrick operates, also poses a risk to financial results.
Financial Risk
The company is subject to interest rate changes that may affect borrowing costs and investment returns. Variability in cash flow due to operational disruptions or commodity price swings can impact Barrick’s ability to meet financial obligations. Although the company maintains a relatively strong balance sheet, reliance on external financing for growth and development projects increases exposure to credit market conditions.
Operational Risk
Mining operations are inherently hazardous and vulnerable to incidents such as equipment failure, geological issues, or environmental events. Disruptions at key mines, whether due to technical, labour-related, or natural factors, can lead to production shortfalls. Additionally, the company must manage complex supply chains and ensure health and safety compliance across diverse geographical regions.
Regulatory Risk
Barrick Mining operates in multiple jurisdictions, each with evolving environmental and mining regulations. Changes in tax regimes, permit requirements, or resource nationalism policies can affect project timelines and costs. Legal disputes, community opposition, or failure to meet ESG standards may result in fines, operational restrictions.
Overall Risk Assessment
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🟢 Piotroski F-Score Analysis
Piotroski F-Score analysis is a robust methodology designed to assess the financial strength and operational efficiency of companies, providing valuable insights for investment decision-making.
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
| Previous TTM | Current TTM | Score | |
| Net Income | 2,144 | 4,993 | 1 |
| ROA | 4.59% | 10.22% | 1 |
| Net Operating Cash Flow | -68 | 2,630 | 1 |
| OCF > Net Income | 2,347 | 2,696 | 1 |
| Long-Term Debt | 18,843 | 19,067 | 0 |
| Current Ratio | 2.89 | 2.92 | 1 |
| New Shares Issued (mln) | 1,751 | 1,675 | 1 |
| Gross Margin | 38.39% | 51.26% | 1 |
| Total Asset Turnover Ratio | 0.28 | 0.35 | 1 |
| Piotroski F-Score | 8/9 |
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🟢 Altman Z-Score Analysis
Altman Z-Score is a widely recognised financial metric used to evaluate the risk of bankruptcy for companies. It is particularly relevant for assessing the creditworthiness of manufacturing and industrial companies but has also been adapted for other industries.
Source: MarketVectors.Pro, Barrick Mining Financial Reports
| Q4 25 | |||
| Altman Z-Score (TTM) | 4 | ||
| 0 | Distress | 1.8 | Grey | 2.99 | Safe | 4 |
Source: MarketVectors.Pro, Barrick Mining Financial Reports
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🟡 Key Assets Components
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
As of last quarter the company reported total assets of 51,577 million USD, representing an increase of 8.3% compared to the previous year the same quarter 47,626 million USD. The largest contributor to this change in current assets was Cash & Short-Term Inv, which grew by 64.6% to 6,706 million USD from 4,074 million USD.
Assets
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
| Q4 24 | Q4 25 | Change (%) | |
| Cash & Short-Term Inv | 4,074 | 6,706 | 64.60% |
| Inventory | 1,942 | 2,068 | 6.49% |
| Receivables | 763 | 1,173 | 53.74% |
| Total Current Assets | 7,632 | 10,217 | 33.87% |
| Property and Equipment | 28,559 | 29,436 | 3.07% |
| Goodwill, Intangibles | 3,245 | 3,100 | -4.47% |
| Other Long-Term Assets | 1,295 | 3,243 | 150.42% |
| Total Assets | 47,626 | 51,577 | 8.30% |
Assets
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🔴 Key Liabilities & Equity
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Total current liabilities increased by 32.4%, indicating a potential growth in operational activities. This change may affect the company's ability to manage its working capital efficiently. Long-term debt increased by 7.7%, suggesting a rise in long-term obligations. This shift could have implications for the Barrick Mining's financing costs and overall debt strategy.
Liabilities & Equity
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
| Q4 24 | Q4 25 | Change (%) | |
| Accounts Payable | 1,613 | 646 | -59.95% |
| Accrued Expenses, Other | 875 | 303 | -65.37% |
| Total Current Liabilities | 2,642 | 3,497 | 32.36% |
| Long-term Lease | 59 | 12 | -79.66% |
| Long-term Debt | 4,705 | 5,065 | 7.65% |
| Total Liabilities | 14,370 | 15,661 | 8.98% |
| Shareholders’ Equity | 24,290 | 26,557 | 9.33% |
Liabilities & Equity
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🟡 Income Statement Analysis
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
As of Q4 25, Barrick Mining reported a revenue of 5,997 million USD, marking an increase of 64.5% compared to the previous year to 3,645 million USD. Operating expenses decreased to 285 million USD, down by 1.4% year-on-year from 289 million USD.
Revenue & Net Income
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
| Q4 24 | Q4 25 | Change (%) | |
| Revenue | 3,645 | 5,997 | 64.53% |
| Operating Expenses | 289 | 285 | -1.38% |
| Operating Income | 1,940 | 3,000 | 54.64% |
| Net Income | 996 | 2,406 | 141.57% |
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Revenue & Net Income
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🟡 Cash Flow Analysis
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
The company’s cash flow performance over the year demonstrates varied trends across key categories. Net operating cash flows increased by 95.8% from 1,392 million USD to 2,726 million USD, reflecting stronger cash generation from core business activities. Net investing cash flows increased by 135.7% from -778 million USD to 278 million USD, indicating reduced expenditure on investments, potentially related to strategic initiatives.
Operating Cash Flow
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
| Q4 24 | Q4 25 | Change (%) | |
| Net Operating Cash Flows | 1,392 | 2,726 | 95.83% |
| Net Investing Cash Flows | -778 | 278 | 135.73% |
| Net Financing Cash Flows | -762 | -1,368 | -79.53% |
| Net Cash Flow, Equivalents | -148 | 1,636 | 1205.41% |
Operating Cash Flow
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🟢 EBITDA
Barrick Mining's EBITDA for the most recent quarter is 4,643 milion USD (+57.9%), compared to 2,940 milion USD in the previous quarter, with a long-term trend value of 3,658 milion USD. This increase in EBITDA suggests improved operational efficiency and revenue growth, indicating stronger core business performance.
EBITDA
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
EBITDA
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🟢 Net Income
Net income for the most recent quarter is 2,406 milion USD (+84.8%), compared to 1,302 milion USD in the previous quarter, with a long-term trend value of 2,321 milion USD. This increase in net income reflects improved profitability, potentially driven by higher revenue growth, enhanced cost efficiency, or favorable market conditions.
Net Income
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Net Income
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🟢 ROE (Return on Equity, %) ★ Buffett's Key Metric
Barrick Mining's return on equity (ROE) for the most recent quarter is 18.8%, compared to 14.2% in the previous quarter, with a long-term trend value of 16.0%. This increase in ROE indicates improved profitability and more efficient use of shareholders' equity to generate earnings.
ROE Indicator
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
ROE Indicator
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🟢 ROA (Return on Assets, %)
Return on assets (ROA) for the most recent quarter is 9.7%, compared to 7.4% in the previous quarter, with a long-term trend value of 8.3%. This increase in ROA indicates improved efficiency in utilizing company assets to generate profits. The higher return suggests stronger operational performance and effective resource allocation.
ROA Indicator
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
ROA Indicator
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🟡 Operating Margin (%) ★ Buffett's Key Metric
Barrick Mining's operating margin for the most recent quarter is 50.0%, compared to 50.3% in the previous quarter, with a long-term trend value of 44.4%. This decline in operating margin may indicate increased production or operational costs, pricing pressures, or lower revenue retention. A reduction in margin suggests that certain cost components are weighing on profitability, potentially requiring adjustments in expense management.
Operating Margin
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
Operating Margin
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🟢 Net Margin (%) ★ Buffett's Key Metric
Net margin for the most recent quarter is 40.1%, compared to 31.4% in the previous quarter, with a long-term trend value of 41.2%. This increase in net margin suggests improved profitability, reflecting stronger cost control, enhanced operational efficiency, or higher revenue retention. The company appears to be effectively managing expenses while maintaining revenue growth, contributing to improved bottom-line performance.
Net Margin
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
Net Margin
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🟢 Long-Term Debt & EBITDA
The current long-term debt is 5,065 million USD, and EBITDA is 4,643 million USD. The long-term debt to EBITDA ratio for the most recent quarter is 109.1%, compared to 157.9% in the previous quarter, with a long-term trend value of 141.8%. This decline in the long-term debt to EBITDA ratio suggests an improvement in the company's ability to manage and service its long-term debt obligations. The lower ratio indicates stronger financial flexibility, potentially driven by higher earnings generation or reduced leverage.
Long-Term Debt to EBITDA Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
The current level remains within the safe range, reflecting a strong balance sheet and manageable debt levels. A declining trend in this ratio is typically a positive sign for investors, as it implies reduced financial risk and an improved capacity to meet long-term liabilities.
Long-Term Debt & EBITDA
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Long-Term Debt to EBITDA Ratio
The current level remains within the safe range, reflecting a strong balance sheet and manageable debt levels. A declining trend in this ratio is typically a positive sign for investors, as it implies reduced financial risk and an improved capacity to meet long-term liabilities.
Long-Term Debt & EBITDA
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🟢 Long-Term Debt & Assets
The current long-term debt is 5,065 million USD, and total assets are 51,577 million USD, resulting in a debt ratio of 9.8%. This increase in the long-term debt-to-assets ratio may indicate a higher dependency on long-term debt or a decrease in total assets, potentially leading to increased financial risk. A rising ratio suggests that Barrick Mining may be taking on additional liabilities or experiencing challenges in maintaining asset growth.
Long-Term Debt to Assets Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
The debt-to-assets ratio remains in the low-risk range <40%, which is a sign of a strong financial position. Investors and analysts will closely monitor future financial performance to determine whether this increase reflects temporary fluctuations or a more significant shift in the company's capital structure.
Long-Term Debt & Assets
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Long-Term Debt to Assets Ratio
The debt-to-assets ratio remains in the low-risk range <40%, which is a sign of a strong financial position. Investors and analysts will closely monitor future financial performance to determine whether this increase reflects temporary fluctuations or a more significant shift in the company's capital structure.
Long-Term Debt & Assets
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🟢 Long-Term Debt & Equity ★ Buffett's Key Metric
The current long-term debt is 5,065 million USD, while Total Equity stands at 26,557 million USD, resulting in a debt-to-equity ratio of 19.1%. This increase in the long-term debt-to-equity ratio may indicate a greater reliance on leverage, which could increase financial risk. A rising ratio suggests that Barrick Mining may be taking on additional debt obligations or experiencing challenges in equity growth, which could impact long-term financial stability.
Long-Term Debt to Equity Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
The debt-to-equity ratio remains within the optimal range <150%, suggesting a well-balanced capital structure. Investors and analysts will closely monitor upcoming financial reports to determine whether this increase reflects temporary fluctuations or a more significant shift in financial strategy.
Long-Term Debt & Equity
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Long-Term Debt to Equity Ratio
The debt-to-equity ratio remains within the optimal range <150%, suggesting a well-balanced capital structure. Investors and analysts will closely monitor upcoming financial reports to determine whether this increase reflects temporary fluctuations or a more significant shift in financial strategy.
Long-Term Debt & Equity
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🟢 Equity to Assets
The current equity is 26,557 million USD, while total assets stand at 51,577 million USD, resulting in an equity-to-assets ratio of 51.5%. This decline in the equity-to-assets ratio may signal increased financial leverage or a reduction in equity levels. A falling ratio suggests that Barrick Mining may be increasing its reliance on debt financing or facing equity dilution, which could affect long-term financial resilience.
Equity to Assets Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (%)
The equity-to-assets ratio remains in the healthy above the 40%, demonstrating a well-balanced financial structure. Investors and analysts will closely monitor future capital allocation strategies to determine whether this decrease is a short-term fluctuation or a longer-term structural change.
Equity & Assets
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Equity to Assets Ratio
The equity-to-assets ratio remains in the healthy above the 40%, demonstrating a well-balanced financial structure. Investors and analysts will closely monitor future capital allocation strategies to determine whether this decrease is a short-term fluctuation or a longer-term structural change.
Equity & Assets
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🟡 Quick Ratio
The quick ratio for Barrick Mining is 2.33, compared to 2.33 in the previous quarter, with a long-term trend value of 2.35. This increase in the quick ratio suggests improved short-term liquidity, indicating that the company has a stronger ability to cover its immediate liabilities with liquid assets. The current level is above 1.0, which is considered financially healthy, demonstrating that the company maintains a solid liquidity position.
Quick Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports
Quick Ratio
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🟢 Current Ratio
The current ratio for Barrick Mining is 2.92, compared to 2.94 in the previous quarter, with a long-term trend value of 2.95. This decline in the current ratio may indicate a higher reliance on short-term liabilities, reduced cash flow, or increased working capital constraints. The ratio remains above the 2.0, meaning liquidity is still strong, but capital efficiency should be optimized.
Current Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports
Current Ratio
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🟢 Net Working Capital
The net working capital (NWC) for Barrick Mining in the most recent quarter is 6,720 million USD, compared to 5,909 million USD in the previous quarter, with a long-term trend value of 6,958 million USD.
Net Working Capital
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Net Working Capital
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🟡 Inventory Turnover Ratio
The inventory turnover ratio for Barrick Mining in the most recent quarter is 4.00, compared to 3.65 in the previous quarter. This increase in inventory turnover indicates that Barrick Mining is selling goods more rapidly, suggesting strong demand, efficient inventory management, and optimized supply chain processes. Although turnover remains within the optimal range of 3.0–6.0, maintaining this balance is crucial for effective inventory management and supply chain stability.
Inventory Turnover Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports
Inventory Turnover Ratio
🔴 Asset Turnover Ratio
The assets turnover ratio for Barrick Mining in the most recent quarter is 0.33, compared to 0.30 in the previous quarter. This increase in the assets turnover ratio indicates that Barrick Mining is utilizing its assets more efficiently to generate revenue. A rising ratio often reflects improved sales performance, better assets utilization, or operational efficiency. The ratio has fallen below the 1.0, suggesting that Barrick Mining may have a high level of assets relative to revenue generation. This could indicate underutilized resources or the need for improved asset efficiency.
Assets Turnover Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports
Assets Turnover Ratio
🔴 Book Value / Share
The book value per share (BVPS) is a key valuation metric that represents the equity value per outstanding share. Calculated by dividing total book value by the number of shares, it helps assess whether a stock trades above or below its book value.
Source: MarketVectors.Pro, Barrick Mining Financial Reports (USD)
Book Value per Share Valuation
Source: MarketVectors.Pro, Barrick Mining Financial Reports (USD, generated on 3 April 2026)
| Q4 24 | Q4 25 | Change (%) | |
| Book Value / Share | 13.87 | 15.85 | 14.28 % |
Book Value per Share Valuation
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🟢 Graham Method
The intrinsic value of Barrick Mining’s stock is calculated using Benjamin Graham’s formula, which takes into account the current earnings per share (EPS) and an assumed growth rate (g), providing a simplified yet insightful perspective on a company’s value.
Benjamin Graham Valuation
Source: MarketVectors.Pro, Barrick Mining Financial Reports (USD, generated on 3 April 2026)
Benjamin Graham Valuation
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🟢 Discounted Cash Flow ★ Buffett's Key Metric
The discounted cash flow (DCF) method is used to estimate Barrick Mining’s intrinsic value by projecting future cash flows and discounting them to their present value. This approach considers the company’s potential to generate cash flows in the future, taking into account the time value of money and associated risks.
The terminal value represents the value of Barrick Mining’s cash flows beyond the five-year forecast horizon. It is calculated using the Gordon Growth Model, assuming a perpetual growth rate of 2.0% and WACC of 5.8%. The calculated terminal value is 193,464 million USD.
Total Intrinsic Value Calculations
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Assuming 1,675 million shares outstanding, the intrinsic value per share is approximately 100.67 USD. The current market price of Barrick Mining’s stock is 41.55 USD. Discounted cash flow valuation indicates that the stock is 58.7% undervalued, trading below its intrinsic value.
Discounted Cash Flow Valuation
Source: MarketVectors.Pro, Barrick Mining Financial Reports (USD, generated on 3 April 2026)
| Value | |
| Present Value of FCFs | 22,409 |
| Present Value of Terminal Value | 146,215 |
| Total Intrinsic Value | 168,624 |
Discounted Cash Flow Valuation
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🟡 Assets Correlation
The Pearson correlation analysis for Barrick Mining examines the relationship between share price and key financial indicators. Gross profit has a correlation of 0.89, which indicates a strong relationship, meaning profitability is a key driver of stock price movements. Operating income is correlated at 0.38, suggesting a weak relationship with share price fluctuations.
Source: MarketVectors.Pro, Barrick Mining Financial Reports
Current liabilities are correlated at 0.51, indicating a moderate connection with stock price dynamics. Total assets have a correlation of 0.59, highlighting a moderate influence on stock valuation.
Key Financial Indicators Growth Dynamics
Source: MarketVectors.Pro, Barrick Mining Financial Reports, Index=100 on Q2 11
| Pearson Correlation | |
| Share Price | 1 |
| Gross Profit | 0.89 |
| Operating Income | 0.38 |
| Current Liabilities | 0.51 |
| Total Assets | 0.59 |
Key Financial Indicators Growth Dynamics
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🟡 FCF Margin Scenarios
• Optimistic Scenario: 30%, driven by operational efficiencies and cost optimisation.
• Base Case: 23% of revenue, consistent with historical trends.
• Pessimistic Scenario: 16%, reflecting higher operating and labour costs. Impact of Changes in FCF Margin
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
An approximately 7-percentage-point increase in the FCF margin to 30%, results in an additional 1,219 milion USD in FCF, highlighting the critical role of operational efficiency. Conversely, a decrease to 16% reduces FCF by 1,155 milion USD, illustrating the significant impact of profitability on cash flow generation.
Projected FCF Margin Scenarios Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
• Base Case: 23% of revenue, consistent with historical trends.
• Pessimistic Scenario: 16%, reflecting higher operating and labour costs. Impact of Changes in FCF Margin
| FCF Margin (%) | Revenue TTM | FCF TTM | Difference | |
| Optimistic | 30% | 16,956 | 5,087 | 1,219 |
| Base Case | 23% | 16,956 | 3,868 | – |
| Pessimistic | 16% | 16,956 | 2,713 | -1,155 |
Projected FCF Margin Scenarios Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
🟡 Operating Costs Scenarios
• Optimistic Scenario: 52%, reflecting enhanced efficiency and lower costs.
• Base Case: 54% of revenue, aligned with historical trends and cost structures.
• Pessimistic Scenario: 55%, driven by rising wages and increased energy costs. Impact of Changes in FCF Margin
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Reducing operational costs to 52% of revenue leads to a 308 milion USD increase in operating profit, emphasising the significance of cost control in enhancing margins. Increasing costs to 55% of revenue results in a 201 milion USD decline in operating profit, highlighting the sensitivity of profitability to rising expenses.
Projected Operating Costs Scenarios Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
• Base Case: 54% of revenue, aligned with historical trends and cost structures.
• Pessimistic Scenario: 55%, driven by rising wages and increased energy costs. Impact of Changes in FCF Margin
| Operating Costs (%) | Revenue TTM | Operating Profit | Difference | |
| Optimistic | 52% | 16,956 | 8,139 | 308 |
| Base Case | 54% | 16,956 | 7,831 | – |
| Pessimistic | 55% | 16,956 | 7,630 | -201 |
Projected Operating Costs Scenarios Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
🟡 Revenue Growth Scenarios
Optimistic Scenario: Projected to grow by 7% annually, driven by:
• Robust macroeconomic conditions.
• Strong industry growth with minimal disruptions.
• Favorable regulatory and competitive environment. Base Case: Projected to grow by 6% annually, driven by: • Stable macroeconomic conditions.
• Balanced market growth with manageable risks.
• Limited external disruptions from regulation or supply chains. Pessimistic Scenario: Projected to grow by 5% annually, driven by: • Global economic uncertainty and potential downturn.
• Increased competition and rising operational costs.
• Regulatory and supply chain challenges impacting business operations.
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD, TTM)
The projected revenue for the next twelve months varies depending on the scenario. Under the optimistic scenario, revenue is expected to increase by 7% to 18,203 million USD, reflecting strong market growth and operational efficiency. In the base case scenario, revenue is forecasted to grow by 6% to 17,995 million USD, assuming stable economic conditions and consistent business expansion. However, under the pessimistic scenario, revenue is projected to increase by 5% to 17,787 million USD, reflecting potential economic slowdowns or adverse market conditions.
Projected Revenues Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
The variation between projected scenarios highlights the Barrick Mining's ability to perform across a range of market conditions. The growth even in the pessimistic case reflects a degree of resilience and suggests a strong underlying business model. This outlook supports confidence in management’s ability to navigate uncertainty while sustaining forward momentum. Scenario analysis enhances strategic visibility, helping stakeholders understand the potential bandwidth of future results.
• Strong industry growth with minimal disruptions.
• Favorable regulatory and competitive environment. Base Case: Projected to grow by 6% annually, driven by: • Stable macroeconomic conditions.
• Balanced market growth with manageable risks.
• Limited external disruptions from regulation or supply chains. Pessimistic Scenario: Projected to grow by 5% annually, driven by: • Global economic uncertainty and potential downturn.
• Increased competition and rising operational costs.
• Regulatory and supply chain challenges impacting business operations.
| Revenue | Net Income | Revenue (Next) | Net Income (Next) | |
| Optimistic | 16,956 | 4,993 | 18,203 | 5,360 |
| Base Case | 16,956 | 4,993 | 17,995 | 5,299 |
| Pessimistic | 16,956 | 4,993 | 17,787 | 5,238 |
Projected Revenues Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
The variation between projected scenarios highlights the Barrick Mining's ability to perform across a range of market conditions. The growth even in the pessimistic case reflects a degree of resilience and suggests a strong underlying business model. This outlook supports confidence in management’s ability to navigate uncertainty while sustaining forward momentum. Scenario analysis enhances strategic visibility, helping stakeholders understand the potential bandwidth of future results.
🟡 Net Income Growth Scenarios
The projected net income for the next twelve months varies depending on the scenario. Under the optimistic scenario, net income is expected to increase by 7% to 5,360 million USD, reflecting improved profitability and strong financial performance. In the base case scenario, net income is forecasted to grow by 6% to 5,299 million USD, assuming stable market conditions and effective cost management. However, under the pessimistic scenario, net income is projected to increase by 5% to 5,238 million USD, reflecting potential challenges such as higher operational costs or slowing revenue growth.
Projected Net Income Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
The projected resilience in net income across all scenarios suggests a stable underlying profitability profile. Even under adverse assumptions, the Barrick Mining is expected to maintain earnings growth, indicating effective cost controls and strong core operations. This consistency can help support valuation multiples and reduce perceived investment risk. Scenario modeling enhances transparency and strengthens the credibility of financial forecasting in the eyes of stakeholders.
Projected Net Income Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
The projected resilience in net income across all scenarios suggests a stable underlying profitability profile. Even under adverse assumptions, the Barrick Mining is expected to maintain earnings growth, indicating effective cost controls and strong core operations. This consistency can help support valuation multiples and reduce perceived investment risk. Scenario modeling enhances transparency and strengthens the credibility of financial forecasting in the eyes of stakeholders.
🟢 Financial Performance Overview
Barrick Mining demonstrated stronger financial performance in the most recent period, reflecting strong revenue growth, operational efficiency, and profitability improvements revenue increased by 64.5% year-over-year, reaching 5,997 million USD, supported by strong sales performance across all key markets. At the same time, EBITDA grew by 91.5% year-over-year, totaling 4,643 million USD, driven by cost optimization and higher-margin business segments.
Revenue & Net Income
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Notably, net income surged by 141.6% year-over-year, reaching 2,406 million USD, improving Barrick Mining's net margin, which expanded to 40.1%. This growth reflects effective expense control and revenue expansion, strengthening the company’s bottom-line performance.
Revenue & Net Income
Notably, net income surged by 141.6% year-over-year, reaching 2,406 million USD, improving Barrick Mining's net margin, which expanded to 40.1%. This growth reflects effective expense control and revenue expansion, strengthening the company’s bottom-line performance.
Key Performance Indicators (KPIs)
Source: MarketVectors.Pro, Barrick Mining Financial Reports (YoY)
Valuation & Market Position
Barrick Mining’s valuation metrics indicate a strengthened financial standing. The EV to EBITDA (TTM) ratio currently stands at 7.82, decreasing from 8.12, reflecting improved operating earnings (EBITDA), suggesting stronger fundamentals. A lower valuation may imply concerns about future earnings or market confidence.
EV to EBITDA Ratio
Source: MarketVectors.Pro, Barrick Mining Financial Reports (TTM)
The EV to EBITDA trendline illustrates Barrick Mining’s valuation trajectory, with an increasing enterprise value supported by improving earnings, suggesting healthy investor confidence.
Source: MarketVectors.Pro, Barrick Mining Financial Reports (TTM)
Meanwhile, the P/E (Price to Earnings) ratio has increased to 15.4, down from 14.4 a year ago, which may indicate heightened investor expectations for future profitability. The P/S (Price to Sales) ratio has risen to 4.53, compared to 2.51 a year ago, reinforcing Barrick Mining’s higher market capitalization relative to revenue.
| Change (%) | |
| Revenue Growth | 64.5% |
| EBITDA Growth | 91.5% |
| Net Income Growth | 141.6% |
| Net Margin | 40.1% |
| EPS | 143.4% |
EV to EBITDA Ratio
The EV to EBITDA trendline illustrates Barrick Mining’s valuation trajectory, with an increasing enterprise value supported by improving earnings, suggesting healthy investor confidence.
| Ratio (TTM) | |
| EV/EBITDA | 7.82 |
| P/E Ratio | 13.94 |
| P/S Ratio | 4.53 |
Cash Flow & Liquidity ★ Buffett's Key Metric
Barrick Mining maintains a strengthened cash flow position, highlighting improved liquidity and prudent financial management. The increase in cash flow suggests enhanced operational efficiency and a stronger ability to meet financial obligations.
• Free Cash Flow (FCF) – totaled 1,619 million USD, marking an improvement in liquidity.
• Net Operating Cash Flow – declined by 3967.6% year-over-year, reaching 2,630 million USD, suggesting weaker cash inflows from operating activities.
• Long-term debt – increased by 1.2%, which may lead to higher financial leverage and increased interest obligations.
Barrick Mining’s ability to generate substantial cash flow while increasing debt reinforces its financial flexibility, though ongoing financial management is essential to sustain long-term growth and strategic investments.
Free Cash Flow
Source: MarketVectors.Pro, Barrick Mining Financial Reports (million USD)
Barrick Mining's financial performance in the most recent quarter shows that EBITDA reached 4,643 million USD, reflecting improved operational efficiency and earnings growth. The company's return on equity (ROE) is 18.8%, suggesting enhanced capital utilization and stronger profitability. The long-term debt-to-equity ratio stands at 19.1%, which may reflect rising leverage and a shift toward debt-based financing. The quick ratio is 2.33, showing improved liquidity and better short-term risk coverage. The EV/EBITDA ratio is currently 7.82x, reflecting a balanced or attractive valuation level relative to earnings. Overall, Barrick Mining’s financial health remains strong, with consistent revenue expansion, rising operational costs, and strong liquidity. Meanwhile, the P/E ratio is declining, while Barrick Mining’s long-term prospects remain positive.
Free Cash Flow
Barrick Mining's financial performance in the most recent quarter shows that EBITDA reached 4,643 million USD, reflecting improved operational efficiency and earnings growth. The company's return on equity (ROE) is 18.8%, suggesting enhanced capital utilization and stronger profitability. The long-term debt-to-equity ratio stands at 19.1%, which may reflect rising leverage and a shift toward debt-based financing. The quick ratio is 2.33, showing improved liquidity and better short-term risk coverage. The EV/EBITDA ratio is currently 7.82x, reflecting a balanced or attractive valuation level relative to earnings. Overall, Barrick Mining’s financial health remains strong, with consistent revenue expansion, rising operational costs, and strong liquidity. Meanwhile, the P/E ratio is declining, while Barrick Mining’s long-term prospects remain positive.
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