New Gold Inc.

NGD.TOTSXBasic Materials

$12.16

+$0.39(+3.31%)

Market Cap$9.6B

P/E Ratio—

52W High$18.62

52W Low$4.12

Avg Volume3.6M

Open$11.60

Beta1.83

Free Cash Flow Financials Revenue

New Gold Inc. (NGD.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NGD.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

NGD.TO · FCF · TTM · margin & CAGR

Free cash flow was $270.8M for FY2025 (fiscal year ending 2025-12-31), up 122.5% year-over-year The FCF margin was 18.1%. Five-year CAGR stands at +91.2%.

FY2025 Free Cash Flow$270.8M▲ +122.5% YoY

Trailing 12M (TTM)$294.0Mtrailing 4 quarters sum

FCF Margin18.1%$270.8M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGR+91.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NGD.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$873.8M(603M)$270.8M▲ +122.5%18.1%

FY2024$392.8M(271M)$121.7M▲ +460.8%13.2%

FY2023$287.6M(266M)$21.7M▲ +121.2%2.8%

FY2022$190.7M(293M)−$102.2M▼ 233.8%-16.9%

FY2021$323.7M(247M)$76.4M▲ +620.8%10.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NGD.TO · P/FCF · FCF yield · FCF per share

New Gold Inc. (NGD.TO) trades at a FCF yield of 3.89% and a price-to-free-cash-flow ratio of 32.9x. FCF per share stands at $0.37, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.89%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.37

TTM FCF ÷ Shares Outstanding

Price / FCF

x32.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x26.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

NGD.TO · cash flow statement · operating / investing / financing

For FY2025, New Gold Inc. generated $873.8M in operating cash flow and spent 603M in capital expenditures, yielding $270.8M in free cash flow.

Operating Activities

+$873.8M

Cash from core business operations

2025-12-31

Investing Activities

−$596.5M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$49.7M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($873.8M) − |CapEx| (603M) = FCF ($270.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Basic Materials)

NGD.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

New Gold Inc.YOU

NGD.TO

$270.8M+122.5%18.1%

Southern Copper Corporation

Basic Materials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

New Gold Inc. (NGD.TO) reported free cash flow of $270.8M for FY2025 (fiscal year ending 2025-12-31), up 122.5% year-over-year. The FCF margin was 18.1%.

Based on available data, New Gold Inc. has maintained positive free cash flow for at least 7 fiscal year(s). FCF peaked at $270.8M in FY2025. The 5-year CAGR stands at +91.2%.

New Gold Inc.'s FCF yield is 3.89% and price-to-FCF ratio is 32.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NGD.TO free cash flow · 8 questions

New Gold Inc. free cash flow was $270.8M for FY2025, up 122.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $294.0M.

NGD.TO free cash flowNGD.TO FCFNGD.TO FCF 2025NGD.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · New Gold Inc. · New Gold Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026