Kinross GoldMEX:KGCN -18.54%83 WACC % is 8.07% as of Jun. 25, 2026, which is 13% above its 10-year median of 7.17. GuruFocus rates MEX:KGCN with a GF Score™ of 83/100 and a GF Value™ of MXN282.64 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 2,670 Metals & Mining companies, Kinross Gold ranks worse than 64.49% on this metric.
As of today (2026-06-25), Kinross Gold's weighted average cost of capital is 8.07%%. Kinross Gold's ROIC % is 30.97% (calculated using TTM income statement data).
Kinross Gold generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
For a comprehensive WACC calculation, please access the WACC Calculator.
Kinross Gold (MEX:KGCN) WACC % Explanation
Because it costs money to raise capital. A firm that generates higher ROIC % than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Kinross Gold's weighted average cost of capital is 8.07%%. Kinross Gold's ROIC % is 30.97% (calculated using TTM income statement data).
Kinross Gold generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
Be Aware
1. GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together.
For companies that report quarterly, GuruFocus combines all of the most recent year's quarterly debt data from the beginning of the year to the year-end and calculates the average.
For companies that report semi-annually, GuruFocus combines all of the most recent year's semi-annual debt data from the start of the year to the year-end and calculates the average.
For companies that report annually, GuruFocus combines the beginning and ending annual debt data from the most recent year and then calculates the average.
2. The WACC formula discussed above does not include Preferred Stock. Please adjust if preferred stock is considered.
3. (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
4. GuruFocus uses the latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
Related Terms
Kinross Gold WACC % Historical Data
* Premium members only.
The historical data trend for Kinross Gold's WACC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Kinross Gold's WACC %, along with its competitors' market caps and WACC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kinross Gold WACC % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Kinross Gold's WACC % distribution charts can be found below:
* The bar in red indicates where Kinross Gold's WACC % falls into.
The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. The WACC is commonly referred to as the firm's cost of capital. Generally speaking, a company's assets are financed by debt and equity. WACC is the average of the costs of these sources of financing, each of which is weighted by its respective use in the given situation. By taking a weighted average, we can see how much interest the company has to pay for every dollar it finances.
WACC
=
E
/
(E + D)
*
Cost of Equity
+
D
/
(E + D)
*
Cost of Debt
*
(1 - Tax Rate)
1. Weights:
Generally speaking, a company's assets are financed by debt and equity. We need to calculate the weight of equity and the weight of debt.
The market value of equity (E) is also called "Market Cap". As of today, Kinross Gold's market capitalization (E) is MXN497270.151 Mil.
The market value of debt is typically difficult to calculate, therefore, GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding the latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together. As of Mar. 2026, Kinross Gold's latest one-year quarterly average Book Value of Debt (D) is MXN19572.722 Mil.
a) weight of equity = E / (E + D) = 497270.151 / (497270.151 + 19572.722) = 0.9621
b) weight of debt = D / (E + D) = 19572.722 / (497270.151 + 19572.722) = 0.0379
2. Cost of Equity:
GuruFocus uses Capital Asset Pricing Model (CAPM) to calculate the required rate of return. The formula is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
a) GuruFocus uses 10-Year Treasury Constant Maturity Rate as the risk-free rate. It is updated daily. The current risk-free rate is 3.5415%. Please go to Economic Indicators page for more information. Please note that we use the 10-Year Treasury Constant Maturity Rate of the country/region where the company is headquartered. If the data for that country/region is not available, then we will use the 10-Year Treasury Constant Maturity Rate of the United States as default.
b) Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. Kinross Gold's beta is 0.7780.
c) (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
Cost of Equity = 3.5415% + 0.7780 * 6% = 8.2095%
3. Cost of Debt:
GuruFocus uses latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
As of Mar. 2026, Kinross Gold's interest expense (positive number) was MXN1218.534 Mil. Its total Book Value of Debt (D) is MXN19572.722 Mil.
Cost of Debt = 1218.534 / 19572.722 = 6.2257%.
4. Multiply by one minus TTM Tax Rate:
GuruFocus uses the most recent TTM Tax Expense divided by the most recent TTM Pre-Tax Income to calculate the tax rate. The calculated TTM tax rate is limited to between 0% and 100%. If the calculated tax rate is higher than 100%, it is set to 100%. If the calculated tax rate is less than 0%, it is set to 0%.
The latest calculated TTM Tax Rate = 19193.733 / 72758.57 = 26.38%.
Kinross Gold's Weighted Average Cost Of Capital (WACC) for Today is calculated as:
WACC
=
E / (E + D)
*
Cost of Equity
+
D / (E + D)
*
Cost of Debt
*
(1 - Tax Rate)
=
0.9621
*
8.2095%
+
0.0379
*
6.2257%
*
(1 - 26.38%)
=
8.07%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kinross Gold (MEX:KGCN) has a WACC % of 8.07% as of Jun. 25, 2026. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on Kinross Gold and its competitors. This is 13% above median its historical median of 7.17. According to the industry distribution chart, Kinross Gold ranks #1722 out of 2670 companies in the Metals & Mining industry, placing it in the top 64.5%.
Is Kinross Gold's WACC % too high?
Kinross Gold's current WACC % of 8.07% is 13% above median its 10-year median of 7.17. The Metals & Mining industry median WACC % is 9.59. Kinross Gold's value of 8.07% is 15.8% below this industry median. Based on the distribution chart, Kinross Gold ranks #1722 out of 2670 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Kinross Gold has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kinross Gold's WACC % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Kinross Gold ranks #1722 out of 2670 companies for WACC %. This places Kinross Gold in the lower half of its industry. The industry median WACC % is 9.59. Kinross Gold's value of 8.07% is 15.8% below this benchmark. While the company's 10-year median is 7.17 vs. the industry median of 9.59, Kinross Gold has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good WACC % for a Metals & Mining company?
The median WACC % among Metals & Mining companies is 9.59, based on 2,670 companies in the industry. Companies in the top quartile (top 25%) have a WACC % significantly above this median, while those in the bottom quartile fall well below. However, WACC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kinross Gold's current WACC % of 8.07% is 15.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high WACC % mean?
A high WACC % can signal that a stock is expensive relative to its fundamentals. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on Kinross Gold and its competitors. For the Metals & Mining industry, the median WACC % is 9.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kinross Gold's current WACC % is 8.07%, which is 13% above median its own 10-year median of 7.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kinross Gold stock overvalued right now?
Based on GuruFocus' analysis, Kinross Gold (MEX:KGCN) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN282.64, compared to a current price of MXN413.00 — trading 46.1% above its estimated fair value. The current WACC % is 8.07%, which is 13% above median its 10-year median of 7.17 and 15.8% below the Metals & Mining industry median of 9.59. Kinross Gold's overall GF Score™ is 83/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is WACC % calculated?
WACC % is calculated from a company's financial statements. For Kinross Gold (MEX:KGCN), the current WACC % is 8.07% as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kinross Gold (MEX:KGCN) Overvalued in 2026?
Based on GuruFocus' analysis, Kinross Gold stock appears to be overvalued.
The current stock price of MXN413.00 is trading 46.1% above its estimated GF Value™ of MXN282.64.
GuruFocus considers Kinross Gold to be Significantly Overvalued.
Key valuation signals for MEX:KGCN:
WACC %: 8.07% (13% above median its 10-year median of 7.17)
GF Value™: MXN282.64 vs. price of MXN413.00 (46.1% above fair value)
Industry Position: 15.8% below the Metals & Mining median (#1722 of 2670)
No single metric tells the full story. See the MEX:KGCN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2025. The company had about a decade of gold reserves at the end of 2025. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. Kinross has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada. If developed as we think likely, it could produce an average of more than 500,000 ounces of gold per year for at least a decade, with its unit cash costs likely in the first quartile of the industry cost curve. Though Great Bear's production is likely to be replacement ounces for falling volumes at other mines.
83GF Score
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