BHP GROUP LIMITED vs NEWMONT CORPORATION, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Newmont earns 21.4% on equity and BHP 21.3%, a dead heat between gold's reference major and mining's, which strips the comparison to price: 12.5 times earnings for Newmont, 22.8 for BHP, ten turns of premium for diversification over concentration at identical capital returns. Newmont converts harder, an 8.8% free-cash yield against 4.5%, and nets more per revenue dollar, 30.1% against 21.7%. Both essentially debt-free with 1% dividends. The pair is as clean as sector relative value gets: same returns, same balance sheets, half the price for the single-metal version; the premium is entirely a bet that iron ore's cycle is safer than gold's, which history rates as roughly even.
Comparison updated 2026-07-10.
| Metric | BHP | NEM |
|---|---|---|
| Price | $81.00 | $96.09 |
| Market cap | $205.5B | $104.4B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +4.2% | — |
| P/E | 22.8 | 12.5 |
| P/B | 3.93 | 2.98 |
| P/S | 4.01 | 4.18 |
| EV/EBITDA | 7.7 | 39.4 |
| Revenue growth | -1.8% | +26.8% |
| Operating margin | 38.0% | — |
| Net margin | 21.7% | 30.1% |
| Return on equity | 21.3% | 21.4% |
| Return on assets | 10.2% | 13.0% |
| Return on invested capital | 22.6% | — |
| FCF yield | 4.5% | 8.8% |
| Dividend yield | — | 1.0% |
| Debt / equity | 0.00 | 0.14 |
| Current ratio | 1.46 | 2.44 |
| Altman Z (solvency) | 3.87 | 3.50 |
| Piotroski F (quality) | 6 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.