---
title: "Newmont: Business Model & Revenue Engine"
description: "Newmont revenue by product line and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/newmont/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Newmont: Business Model & Revenue Engine

## Direct Answer

Newmont reports revenue across 2 product and service lines in its fiscal 2025 Form 10-K. Gold Dore is the largest, with $14.3 billion of revenue (63% of the total), followed by Sales From Concentrate and Other Production at $8.3 billion (37%).

## How Does Newmont Make Money?

Gold Dore supplies 63% of revenue, so Newmont's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Sales From Concentrate and Other Production grew fastest (+30.9%) and Gold Dore slowest (+16.4%), so the revenue mix tilts toward Sales From Concentrate and Other Production while that gap lasts.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Gold Dore | $14.3 billion | $12.3 billion | 63.2% | 16.4% |
| Sales From Concentrate and Other Production | $8.3 billion | $6.4 billion | 36.8% | 30.9% |

![Bar chart of Newmont revenue by product line for fiscal 2025: Gold Dore 63.2%, Sales From Concentrate and Other Production 36.8%.](https://www.getswoopr.com/images/charts/newmont-business-model-segment-mix.webp)
*Newmont revenue by product line as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Newmont's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United Kingdom | $13.1 billion | $11.0 billion | 57.6% | 19.2% |
| South Korea | $3.2 billion | $2.0 billion | 14.1% | 63.4% |
| Japan | $2.0 billion | $1.9 billion | 8.8% | 4.3% |
| China | $1.4 billion | $318 million | 6.2% | 343.7% |
| Other countries | $1.4 billion | $1.2 billion | 6.1% | 18.5% |
| Australia | $803 million | $409 million | 3.5% | 96.3% |
| Mexico | $639 million | $600 million | 2.8% | 6.5% |
| Switzerland | $89 million | $638 million | 0.4% | -86.1% |
| Philippines | $82 million | $709 million | 0.4% | -88.4% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Newmont's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Newmont reported in the segment note and revenue disclosures of its Form 10-K filed February 19, 2026 (accession 0001164727-26-000010), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Newmont's main products and services?

In its fiscal 2025 Form 10-K, Newmont reports revenue for Gold Dore and Sales From Concentrate and Other Production.

### Which part of Newmont brings in the most revenue?

Gold Dore, with $14.3 billion of revenue in fiscal 2025, or 63% of the total.

### Where does Newmont report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 19, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: NEWMONT Corp /DE/ Form 10-K filed February 19, 2026](https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm)
- [SEC EDGAR: NEWMONT Corp /DE/ annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1164727&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Newmont company dossier](https://www.getswoopr.com/stocks/companies/newmont/)
- [Newmont financial metrics](https://www.getswoopr.com/stocks/companies/newmont/metrics/)
- [Newmont financial risk indicators](https://www.getswoopr.com/stocks/companies/newmont/risks/)
- [Newmont peer comparison](https://www.getswoopr.com/stocks/companies/newmont/competitors/)
- [Newmont business model and revenue mix](https://www.getswoopr.com/stocks/companies/newmont/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).