Barrick Mining Corporation (B) Cash Flow Statement
Where B’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $8.08B +80.0% vs 2024
- Capital expenditures
- $3.89B 22.9% of revenue
- Free cash flow
- $4.19B 24.7% margin
- Returned to shareholders
- $2.43B 58% of free cash flow
- Change in cash
- $2.43B cash at year-end $6.69B
Drawn to scale: where the cash came from and how it was used. Hover for values.
B operating cash flow, capex and free cash flow
B cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $2.64B2016 | $8.08B2025 | +13.2%/yr | |
| Capital expenditures | $1.13B2016 | $3.89B2025 | +14.8%/yr | |
| Free cash flow | $1.51B2016 | $4.19B2025 | +12.0%/yr | |
| Free cash flow margin | 17.7%2016 | 24.7%2025 | +7.0 pts | |
| Operating cash flow / net income | 3.072016 | 1.592025 | −1.48 | |
| Stock-based compensation | $82.0M2016 | $270.0M2025 | +14.2%/yr | |
| Dividends paid | $86.0M2016 | $905.6M2025 | +29.9%/yr | |
| Share buybacks (net) | $20.5M2016 | $1.53B2025 | +61.4%/yr | |
| Capex / revenue | 13.2%2016 | 22.9%2025 | +9.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
B cash flow by activity
B net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
B cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $5.08B | $3.09B | $1.95B | $432.0M | $3.29B | $3.61B | $4.57B | −$1.44B | $1.52B | $861.0M |
| Depreciation & amortization | $1.91B | $1.92B | $2.04B | $2.00B | $2.10B | $2.21B | $2.03B | $1.46B | $1.65B | $1.57B |
| Stock-based compensation | $270.0M | $65.0M | $66.0M | $55.0M | $81.0M | $87.0M | $71.0M | $33.0M | $80.0M | $82.0M |
| Change in working capital | −$23.4M | −$382.0M | −$404.7M | −$130.0M | −$273.0M | −$308.0M | −$357.0M | −$173.0M | −$728.0M | −$315.0M |
| Other non-cash items | $849.0M | −$195.0M | $74.0M | $1.13B | −$820.0M | −$184.0M | −$3.49B | $1.88B | −$450.0M | $438.0M |
| Cash from operating activities | $8.08B | $4.49B | $3.73B | $3.48B | $4.38B | $5.42B | $2.83B | $1.76B | $2.06B | $2.64B |
| Investing activities | ||||||||||
| Capital expenditures | −$3.89B | −$3.17B | −$3.09B | −$3.05B | −$2.44B | −$2.05B | −$1.70B | −$1.40B | −$1.40B | −$1.13B |
| Investments (net) | $43.0M | −$2.76B | −$2.82B | −$1.71B | −$1.90B | — | — | — | — | — |
| Acquisitions & other investing | $2.70B | $3.17B | $3.09B | $3.05B | $2.44B | $768.0M | $1.75B | −$94.0M | $1.06B | $714.0M |
| Cash from investing activities | −$1.15B | −$2.76B | −$2.82B | −$1.71B | −$1.90B | −$1.29B | $50.0M | −$1.49B | −$337.0M | −$412.0M |
| Financing activities | ||||||||||
| Dividends paid | −$905.6M | −$696.0M | −$700.0M | −$1.14B | −$628.4M | −$547.0M | −$560.7M | −$125.0M | −$125.0M | −$86.0M |
| Share repurchases & issuance (net) | −$1.53B | −$498.0M | $0 | −$424.0M | −$750.0M | −$15.6M | −$50.3M | −$138.3M | −$40.8M | −$20.5M |
| Net borrowing (repayment) | −$35.0M | $38.0M | $9.0M | −$218.0M | $88.0M | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.79B | −$639.0M | −$514.0M | −$819.0M | −$1.10B | −$1.69B | −$527.9M | −$661.7M | −$1.72B | −$2.19B |
| Cash from financing activities | −$4.26B | −$1.79B | −$1.21B | −$2.60B | −$2.39B | −$2.25B | −$1.14B | −$925.0M | −$1.89B | −$2.30B |
| Summary | ||||||||||
| Net change in cash | $2.43B | −$74.0M | −$292.7M | −$840.0M | $92.0M | $1.87B | $1.74B | −$663.0M | −$155.0M | −$66.0M |
| Cash at end of period | $6.69B | $4.07B | $4.15B | $4.44B | $5.28B | $5.19B | $3.31B | $1.57B | $2.23B | $2.39B |
| Free cash flow | $4.19B | $1.32B | $645.3M | $432.0M | $1.94B | $3.36B | $1.13B | $365.0M | $669.0M | $1.51B |
| Free cash flow margin | 24.7% | 10.2% | 5.7% | 3.9% | 16.2% | 26.7% | 11.6% | 5.0% | 8.0% | 17.7% |
| Capex / revenue | 22.9% | 24.6% | 27.1% | 27.7% | 20.3% | 16.3% | 17.5% | 19.3% | 16.7% | 13.2% |
| Operating cash flow / net income | 1.59 | 1.45 | 1.91 | 8.06 | 1.33 | 1.50 | 0.62 | — | 1.36 | 3.07 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $1.19B | $1.58B | $2.44B | $1.90B | $811.0M | $781.0M | $1.19B | $780.0M | $369.9M | $487.0M | $479.0M | $368.0M |
| Depreciation & amortization | $555.0M | $500.0M | $599.0M | $460.0M | $458.0M | $411.0M | $484.0M | $477.0M | $502.9M | $474.0M | $855.0M | $526.0M |
| Stock-based compensation | $24.0M | $38.0M | $103.0M | $98.0M | $27.0M | $42.0M | −$3.0M | $50.0M | $5.0M | $13.0M | $26.0M | $15.0M |
| Change in working capital | −$369.0M | −$297.1M | $27.5M | $184.0M | −$193.0M | −$105.0M | −$2.0M | −$251.0M | $109.4M | −$240.2M | −$145.0M | −$7.0M |
| Other non-cash items | $430.6M | $803.6M | −$300.0M | −$224.0M | $226.0M | $83.0M | −$274.0M | $124.0M | $171.8M | $27.0M | −$218.0M | $225.0M |
| Cash from operating activities | $1.83B | $2.62B | $2.87B | $2.42B | $1.33B | $1.21B | $1.39B | $1.18B | $1.16B | $760.8M | $997.0M | $1.13B |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.16B | −$963.0M | −$1.12B | −$943.0M | −$934.0M | −$837.0M | −$891.0M | −$736.0M | −$818.4M | −$724.7M | −$861.0M | −$768.0M |
| Investments (net) | $0 | $110.0M | $43.0M | −$861.0M | $86.0M | −$739.0M | −$778.0M | −$603.0M | −$703.0M | −$680.0M | — | — |
| Acquisitions & other investing | $188.9M | $260.8M | $1.40B | $943.0M | $934.0M | $837.0M | $942.8M | $736.0M | $818.4M | $728.0M | $95.0M | $79.0M |
| Cash from investing activities | −$968.8M | −$592.1M | $318.3M | −$861.0M | $86.0M | −$739.0M | −$726.2M | −$603.0M | −$703.0M | −$676.7M | −$766.0M | −$689.0M |
| Financing activities | ||||||||||||
| Dividends paid | −$282.4M | −$685.6M | −$298.8M | −$254.0M | −$170.0M | −$172.0M | −$172.0M | −$174.0M | −$175.0M | −$175.0M | −$176.0M | −$175.0M |
| Share repurchases & issuance (net) | −$1.17B | $0 | −$508.2M | −$589.0M | −$268.0M | −$143.0M | −$354.0M | −$95.0M | −$49.0M | $0 | — | — |
| Net borrowing (repayment) | −$20.0M | −$14.0M | −$13.0M | −$3.0M | −$3.0M | $1.0M | $49.0M | −$4.0M | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$548.7M | −$910.6M | −$706.8M | −$449.0M | −$280.0M | −$129.0M | −$337.0M | −$114.0M | −$143.0M | −$109.0M | −$166.0M | −$151.0M |
| Cash from financing activities | −$2.02B | −$1.61B | −$1.53B | −$1.29B | −$721.0M | −$443.0M | −$814.0M | −$387.0M | −$367.0M | −$284.0M | −$342.0M | −$326.0M |
| Summary | ||||||||||||
| Net change in cash | −$1.23B | $544.6M | $1.66B | $267.0M | $694.0M | $30.0M | −$151.2M | $189.0M | $89.0M | −$202.0M | −$113.0M | $111.0M |
| Cash at end of period | $5.92B | $7.14B | $6.69B | $5.07B | $4.80B | $4.10B | $4.07B | $4.22B | $4.04B | $3.94B | $4.15B | $4.26B |
| Free cash flow | $669.0M | $1.66B | $1.75B | $1.48B | $395.0M | $375.0M | $501.0M | $444.0M | $340.6M | $36.0M | $136.0M | $359.0M |
| Free cash flow margin | 12.6% | 31.8% | 29.1% | 35.7% | 10.7% | 12.0% | 13.7% | 13.2% | 10.8% | 1.3% | 4.4% | 12.5% |
| Capex / revenue | 21.9% | 18.5% | 18.8% | 22.7% | 25.4% | 26.7% | 24.4% | 21.9% | 25.9% | 26.4% | 28.1% | 26.8% |
| Operating cash flow / net income | 1.54 | 1.66 | 1.18 | 1.27 | 1.64 | 1.55 | 1.17 | 1.51 | 3.13 | 1.56 | 2.08 | 3.06 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
B cash generation
In fiscal 2025 (ended December 31, 2025), Barrick Mining generated $8.1 billion of cash from operations (up 80.0%) and spent $3.9 billion on capital expenditures, leaving free cash flow of $4.2 billion, 24.7% of revenue. It returned $2.4 billion to shareholders through dividends ($905.6 million) and net share buybacks ($1.5 billion). Cash and equivalents rose by $2.4 billion over the year.
Related: B income statement, B balance sheet, B dividend history. See the B stock overview for the latest quote and news.
B cash flow FAQ
What is Barrick Mining's free cash flow?
Barrick Mining's free cash flow was $4.2 billion in fiscal 2025: $8.1 billion of operating cash flow minus $3.9 billion of capital expenditures It was $1.3 billion a year earlier..
How much cash does Barrick Mining generate from operations?
Barrick Mining generated $8.1 billion of cash from operating activities in fiscal 2025, 1.59 times its net income of $5.1 billion.
How much does Barrick Mining spend on capital expenditures?
Barrick Mining spent $3.9 billion on capital expenditures in fiscal 2025, 22.9% of revenue, compared with $3.2 billion the year before.
How much stock does Barrick Mining buy back?
Barrick Mining spent $1.5 billion on net share repurchases in fiscal 2025.
How much does Barrick Mining pay in dividends?
Barrick Mining paid $905.6 million in dividends in fiscal 2025, 21.6% of free cash flow.