Agnico Eagle Mines Limited (AEM) 10-Year Financial Performance & Capital Metrics

AEM • • Industrial / General

Basic MaterialsGoldMajor Gold ProducersGlobal Gold Majors

AboutAgnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexico, and Finland. It operates through Northern Business and Southern Business segments. The company primarily produces and sells gold deposits, as well as explores for silver, zinc, and copper deposits. Its flagship property is the LaRonde mine located in the Abitibi region of northwestern Quebec, Canada. As of December 31, 2021, the company's LaRonde mine had proven and probable mineral reserves of approximately 3.0 million ounces of gold. It is also involved in exploration activities in Europe, Latin America, and the United States. The company was incorporated in 1953 and is headquartered in Toronto, Canada.Show more

Revenue $8.29B +22.8%
EBITDA $4.66B +42.3%
Net Income $1.9B -4.1%
EPS (Diluted) 3.78 -4.5%
Gross Margin 44.48% +50.9%
EBITDA Margin 56.28% +15.9%
Operating Margin 38.01% +48.6%
Net Margin 22.88% -21.9%
ROE 9.42% -15.1%
ROIC 11.17% +64.7%
Debt/Equity 0.06 -40.4%
Interest Coverage 35.60 +104.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 31.4%
✓FCF machine: 25.7% free cash flow margin
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 26.5%

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.44%

5Y26.55%

3Y29.27%

TTM32.85%

Profit (Net Income) CAGR

10Y37.39%

5Y31.39%

3Y50.42%

TTM242.7%

EPS CAGR

10Y25.5%

5Y13.69%

3Y18.35%

TTM246.19%

ROCE

10Y Avg6.9%

5Y Avg9.68%

3Y Avg9%

Latest11.23%

Peer Comparison

Global Gold Majors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AEMAgnico Eagle Mines Limited	100.62B	200.42	53.02	22.78%	32.68%	14.56%	2.11%	0.06
KGCKinross Gold Corporation	40.14B	33.25	43.18	21.44%	27.28%	21.71%	3.42%	0.21
AUAngloGold Ashanti Plc	49.76B	98.55	42.30	26.43%	9%	7.27%	1.75%	0.25
BBarrick Mining Corporation	83.76B	49.64	40.69	13.38%	24.53%	10.56%	1.57%	0.16
NEMNewmont Corporation	124.63B	114.21	39.93	57.6%	33.82%	21.51%	2.38%	0.30

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.83B	2.11B	2.32B	2.08B	2.55B	3.3B	3.84B	5.51B	6.75B	8.29B
Revenue Growth %	0.01%	0.16%	0.1%	-0.1%	0.23%	0.29%	0.16%	0.44%	0.22%	0.23%
Cost of Goods Sold+	1.58B	1.77B	1.77B	1.76B	1.95B	2.29B	2.65B	3.87B	4.76B	4.6B
COGS % of Revenue	0.87%	0.84%	0.76%	0.85%	0.76%	0.69%	0.69%	0.7%	0.71%	0.56%
Gross Profit+	245.92M	338.25M	548.38M	315.22M	604.37M	1.02B	1.19B	1.65B	1.99B	3.69B
Gross Margin %	0.13%	0.16%	0.24%	0.15%	0.24%	0.31%	0.31%	0.3%	0.29%	0.44%
Gross Profit Growth %	-0.35%	0.38%	0.62%	-0.43%	0.92%	0.68%	0.17%	0.39%	0.21%	0.85%
Operating Expenses+	91.16M	105.55M	120.46M	132.19M	126.67M	151.43M	141.32M	222.11M	263.3M	536.17M
OpEx % of Revenue	0.05%	0.05%	0.05%	0.06%	0.05%	0.05%	0.04%	0.04%	0.04%	0.06%
Selling, General & Admin	207.33M	249.76M	115.06M	262.54M	225.77M	229.78M	294.52M	533.87M	471.62M	207.45M
SG&A % of Revenue	0.11%	0.12%	0.05%	0.13%	0.09%	0.07%	0.08%	0.1%	0.07%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-116.17M	-144.2M	142.67M	-130.35M	-99.1M	-78.35M	-153.19M	-311.76M	-208.33M	328.72M
Operating Income+	154.76M	232.7M	427.91M	183.03M	477.7M	865.46M	1.05B	1.43B	1.73B	3.15B
Operating Margin %	0.08%	0.11%	0.18%	0.09%	0.19%	0.26%	0.27%	0.26%	0.26%	0.38%
Operating Income Growth %	-0.4%	0.5%	0.84%	-0.57%	1.61%	0.81%	0.21%	0.36%	0.21%	0.83%
EBITDA+	719.13M	842.27M	960.37M	715.46M	1.04B	1.53B	1.79B	2.49B	3.28B	4.66B
EBITDA Margin %	0.39%	0.4%	0.41%	0.34%	0.41%	0.46%	0.47%	0.45%	0.49%	0.56%
EBITDA Growth %	0.06%	0.17%	0.14%	-0.26%	0.46%	0.47%	0.16%	0.4%	0.32%	0.42%
D&A (Non-Cash Add-back)	564.37M	609.57M	532.46M	532.43M	564.6M	668.13M	738.13M	1.07B	1.55B	1.51B
EBIT	141.55M	335.19M	427.84M	-160.94M	857.59M	904.59M	1.01B	1.14B	2.5B	2.91B
Net Interest Income+	-65.45M	-69.96M	-65.4M	-75.18M	-94.83M	-91.35M	-80.83M	-54.9M	-90.86M	-71.16M
Interest Income	0	0	10.94M	9.72M	6.84M	5.12M	3.9M	9.43M	8.1M	17.3M
Interest Expense	65.45M	69.96M	76.35M	84.9M	101.68M	96.47M	84.74M	64.33M	98.96M	88.46M
Other Income/Expense	-78.66M	32.53M	-76.42M	-428.87M	278.22M	-57.35M	-122.91M	-354.75M	676.62M	-327.87M
Pretax Income+	76.1M	265.23M	351.49M	-245.84M	755.92M	808.11M	924.52M	1.07B	2.4B	2.82B
Pretax Margin %	0.04%	0.13%	0.15%	-0.12%	0.3%	0.24%	0.24%	0.19%	0.36%	0.34%
Income Tax+	53.46M	108.32M	102.04M	64.2M	271.75M	269.48M	367.52M	427.54M	425.42M	925.97M
Effective Tax Rate %	0.3%	0.59%	0.71%	1.26%	0.64%	0.67%	0.6%	0.6%	0.82%	0.67%
Net Income+	22.64M	156.91M	249.45M	-310.04M	484.17M	538.63M	557M	643.69M	1.98B	1.9B
Net Margin %	0.01%	0.07%	0.11%	-0.15%	0.19%	0.16%	0.15%	0.12%	0.29%	0.23%
Net Income Growth %	-0.71%	5.93%	0.59%	-2.24%	2.56%	0.11%	0.03%	0.16%	2.07%	-0.04%
Net Income (Continuing)	22.64M	156.91M	249.45M	-310.04M	484.17M	538.63M	557M	643.69M	1.98B	1.9B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.11	0.70	1.05	-1.40	1.99	2.10	2.28	1.53	3.96	3.78
EPS Growth %	-0.72%	5.36%	0.5%	-2.33%	2.42%	0.06%	0.09%	-0.33%	1.59%	-0.05%
EPS (Basic)	0.11	0.71	1.06	-1.40	2.00	2.12	2.29	1.53	3.97	3.79
Diluted Shares Outstanding	217.1M	225.75M	232.46M	233.25M	238.23M	243.07M	244.73M	438.53M	489.91M	500.86M
Basic Shares Outstanding	216.17M	222.74M	230.25M	233.25M	236.93M	241.51M	243.71M	437.68M	488.72M	499.9M
Dividend Payout Ratio	2.63%	0.45%	0.3%	-	0.22%	0.35%	0.49%	0.95%	0.32%	0.35%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	829.42M	1.23B	1.46B	1.07B	1.1B	1.25B	1.3B	2.18B	2.19B	2.81B
Cash & Short-Term Investments	163.46M	640.71M	766.67M	384.44M	337.02M	406.46M	191.07M	668.52M	348.85M	933.74M
Cash Only	124.15M	539.97M	632.98M	301.83M	321.9M	402.53M	185.79M	658.63M	338.65M	926.43M
Short-Term Investments	39.31M	100.73M	133.69M	82.61M	15.12M	3.94M	5.29M	9.9M	10.2M	7.31M
Accounts Receivable	7.71M	8.19M	109.19M	121.15M	89.44M	83.19M	102.67M	143.83M	184.9M	189.63M
Days Sales Outstanding	1.54	1.41	17.15	21.27	12.79	9.19	9.77	9.52	10	8.35
Inventory	461.98M	443.71M	500.98M	494.15M	580.07M	630.47M	878.94M	1.21B	1.42B	1.51B
Days Inventory Outstanding	106.54	91.28	103.02	102.23	108.66	100.62	121.21	114.16	108.82	119.87
Other Current Assets	124.47M	90.16M	31.19M	17.56M	24.81M	54.56M	39.02M	47.98M	86.72M	46.64M
Total Non-Current Assets+	5.85B	5.88B	6.4B	6.78B	7.69B	8.37B	8.91B	21.31B	26.49B	27.18B
Property, Plant & Equipment	5.09B	5.11B	5.63B	6.23B	7B	7.33B	7.68B	18.46B	21.22B	21.47B
Fixed Asset Turnover	0.36x	0.41x	0.41x	0.33x	0.36x	0.45x	0.50x	0.30x	0.32x	0.39x
Goodwill	696.81M	696.81M	696.81M	407.79M	407.79M	407.79M	407.79M	2.04B	4.16B	4.16B
Intangible Assets	0	0	0	0	0	0	0	13.32M	0	0
Long-Term Investments	0	0	0	0	91.24M	375.1M	268.95M	315.35M	334.58M	571.53M
Other Non-Current Assets	67.98M	74.93M	80.71M	138.3M	184.87M	259.25M	427.94M	470.98M	726.12M	956.86M
Total Assets+	6.68B	7.11B	7.87B	7.85B	8.79B	9.61B	10.22B	23.49B	28.68B	29.99B
Asset Turnover	0.27x	0.30x	0.30x	0.26x	0.29x	0.34x	0.38x	0.23x	0.24x	0.28x
Asset Growth %	-0.02%	0.06%	0.11%	-0%	0.12%	0.09%	0.06%	1.3%	0.22%	0.05%
Total Current Liabilities+	311.52M	423.62M	333.82M	361.45M	775.64M	515.7M	761.81M	946.42M	1.05B	1.51B
Accounts Payable	121.63M	111.17M	144.13M	163.03M	158.32M	167.13M	189.07M	259M	317.89M	296M
Days Payables Outstanding	28.05	22.87	29.64	33.73	29.66	26.67	26.07	24.46	24.38	23.49
Short-Term Debt	14.45M	129.9M	0	0	360M	0	225M	100M	100M	90M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	99.7M	99.43M	119.14M	126.45M	164.87M	16.17M	29.64M	168.44M	197.03M	323.1M
Current Ratio	2.66x	2.90x	4.38x	2.97x	1.42x	2.42x	1.71x	2.30x	2.09x	1.86x
Quick Ratio	1.18x	1.86x	2.88x	1.60x	0.67x	1.20x	0.56x	1.03x	0.74x	0.86x
Cash Conversion Cycle	80.03	69.82	90.54	89.77	91.79	83.14	104.9	99.23	94.44	104.74
Total Non-Current Liabilities+	2.23B	2.19B	2.58B	2.94B	2.9B	3.42B	3.45B	6.31B	8.21B	7.64B
Long-Term Debt	1.12B	1.07B	1.37B	1.72B	1.36B	1.57B	1.34B	1.24B	1.74B	1.05B
Capital Lease Obligations	9.55M	6.32M	1.92M	0	102.14M	99.42M	98.44M	114.88M	115.15M	98.92M
Deferred Tax Liabilities	802.11M	0	827.34M	0	948.14M	1.04B	1.22B	3.98B	4.97B	5.16B
Other Non-Current Liabilities	300.79M	1.11B	383.68M	1.22B	488.35M	715.12M	-420.04M	954.26M	1.36B	1.29B
Total Liabilities	2.54B	2.62B	2.92B	3.3B	3.68B	3.93B	4.22B	7.25B	9.26B	9.15B
Total Debt+	1.15B	1.21B	1.38B	1.72B	1.84B	1.69B	1.7B	1.49B	2B	1.28B
Net Debt	1.03B	674.57M	744.2M	1.42B	1.52B	1.28B	1.51B	834.79M	1.67B	355.75M
Debt / Equity	0.28x	0.27x	0.28x	0.38x	0.36x	0.30x	0.28x	0.09x	0.10x	0.06x
Debt / EBITDA	1.60x	1.44x	1.43x	2.41x	1.77x	1.10x	0.95x	0.60x	0.61x	0.27x
Net Debt / EBITDA	1.43x	0.80x	0.77x	1.99x	1.46x	0.84x	0.85x	0.33x	0.51x	0.08x
Interest Coverage	2.36x	3.33x	5.60x	2.16x	4.70x	8.97x	12.36x	22.17x	17.44x	35.60x
Total Equity+	4.14B	4.49B	4.95B	4.55B	5.11B	5.68B	6B	16.24B	19.42B	20.83B
Equity Growth %	0.02%	0.08%	0.1%	-0.08%	0.12%	0.11%	0.06%	1.71%	0.2%	0.07%
Book Value per Share	19.07	19.90	21.28	19.51	21.46	23.38	24.52	37.04	39.65	41.59
Total Shareholders' Equity	4.14B	4.49B	4.95B	4.55B	5.11B	5.68B	6B	16.24B	19.42B	20.83B
Common Stock	4.71B	4.99B	5.29B	5.36B	5.59B	5.75B	5.86B	16.25B	18.33B	18.68B
Retained Earnings	-823.73M	-744.45M	-598.89M	-988.91M	-647.33M	-366.41M	-146.38M	-201.58M	963.17M	2.03B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	219.56M	211.98M	220.19M	139.5M	132.24M	260.89M	245.06M	168.35M	102.27M	-41.15M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	616.24M	778.62M	767.56M	605.65M	881.69M	1.19B	1.35B	2.1B	2.6B	3.96B
Operating CF Margin %	0.34%	0.37%	0.33%	0.29%	0.35%	0.36%	0.35%	0.38%	0.39%	0.48%
Operating CF Growth %	-0.08%	0.26%	-0.01%	-0.21%	0.46%	0.35%	0.13%	0.56%	0.24%	0.52%
Net Income	24.58M	158.82M	243.89M	-326.7M	473.17M	511.61M	561.95M	670.25M	1.94B	1.9B
Depreciation & Amortization	608.61M	613.16M	508.74M	553.93M	546.06M	631.1M	738.13M	1.09B	1.55B	1.51B
Stock-Based Compensation	35.82M	33.8M	43.67M	50.66M	54.26M	54.49M	57.8M	48.57M	80.6M	77.4M
Deferred Taxes	6.03M	7.52M	10.86M	-29.38M	152.59M	75.76M	187.3M	168.1M	52.04M	213.84M
Other Non-Cash Items	-15.02M	-99.12M	32.22M	397.03M	-359.12M	-60.81M	78.86M	133.5M	-772M	179.96M
Working Capital Changes	-43.79M	64.43M	-71.81M	-39.89M	14.73M	-20.08M	-278.73M	-18.47M	-253.02M	80.02M
Change in Receivables	52.02M	-471K	-3.81M	1.95M	1.74M	-3.55M	-1.68M	12.11M	7.59M	0
Change in Inventory	-40.55M	20.36M	-64.89M	-52.32M	-91.44M	-82.95M	-185.09M	-46.24M	-172.27M	-208.3M
Change in Payables	20.46M	-35.41M	44.69M	29.03M	84.84M	-5.52M	-75K	59.46M	2.83M	36.73M
Cash from Investing+	-374.52M	-553.49M	-1B	-1.2B	-873.88M	-808.81M	-1.26B	-710.46M	-2.76B	-2.01B
Capital Expenditures	-449.76M	-516.05M	-874.15M	-1.09B	-882.66M	-759.34M	-917.68M	-1.54B	-1.7B	-1.83B
CapEx % of Revenue	0.25%	0.24%	0.38%	0.52%	0.35%	0.23%	0.24%	0.28%	0.25%	0.22%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	48M	-130.97K	-24K	36.43M	-85.83K	936K	-112.8M	36.41M	58.54M	10.15M
Cash from Financing+	-280.76M	190.39M	329.17M	274.1M	10.61M	-302.82M	-297.24M	-914.85M	-163.96M	-1.36B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-59.51M	-71.38M	-76.08M	-83.96M	-105.41M	-190.25M	-275.16M	-608.31M	-638.64M	-671.65M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	4.08M	173.11M	16.01M	-2.31M	115.96M	49.44M	19.15M	62.11M	40.38M	194.99M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	166.48M	262.57M	-106.6M	-483.45M	-972K	432.71M	398.31M	558.4M	947.43M	2.13B
FCF Margin %	0.09%	0.12%	-0.05%	-0.23%	-0%	0.13%	0.1%	0.1%	0.14%	0.26%
FCF Growth %	-0.14%	0.58%	-1.41%	-3.54%	1%	446.18%	-0.08%	0.4%	0.7%	1.24%
FCF per Share	0.77	1.16	-0.46	-2.07	-0.00	1.78	1.63	1.27	1.93	4.25
FCF Conversion (FCF/Net Income)	27.22x	4.96x	3.08x	-1.95x	1.82x	2.21x	2.42x	3.26x	1.32x	2.09x
Interest Paid	69.41M	71.4M	78.89M	91.08M	101.52M	95.12M	85.11M	67.51M	104.84M	103.69M
Taxes Paid	81.11M	105.18M	127.92M	106.57M	90.69M	110.85M	246.08M	316.74M	290.52M	474.03M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	0.55%	3.64%	5.29%	-6.53%	10.02%	9.98%	9.54%	5.79%	11.09%	9.42%
Return on Invested Capital (ROIC)	2.22%	3.38%	5.91%	2.35%	5.69%	9.55%	10.85%	8.7%	6.78%	11.17%
Gross Margin	13.45%	16.01%	23.6%	15.16%	23.67%	30.78%	30.99%	29.89%	29.47%	44.48%
Net Margin	1.24%	7.43%	10.74%	-14.91%	18.97%	16.3%	14.52%	11.67%	29.29%	22.88%
Debt / Equity	0.28x	0.27x	0.28x	0.38x	0.36x	0.30x	0.28x	0.09x	0.10x	0.06x
Interest Coverage	2.36x	3.33x	5.60x	2.16x	4.70x	8.97x	12.36x	22.17x	17.44x	35.60x
FCF Conversion	27.22x	4.96x	3.08x	-1.95x	1.82x	2.21x	2.42x	3.26x	1.32x	2.09x
Revenue Growth	1.1%	15.53%	9.98%	-10.49%	22.77%	29.42%	16.09%	43.75%	22.39%	22.78%

Revenue by Segment

	2012	2013	2017	2018	2019	2020	2021	2022	2023	2024
Gold	-	1.5B	-	-	-	-	-	-	-	-
Gold Growth	-	-	-	-	-	-	-	-	-	-
Silver	140.22M	100.89M	-	-	-	-	-	-	-	-
Silver Growth	-	-28.05%	-	-	-	-	-	-	-	-
Copper	19.02M	20.65M	-	-	-	-	-	-	-	-
Copper Growth	-	8.59%	-	-	-	-	-	-	-	-
Zinc	45.8M	16.68M	-	-	-	-	-	-	-	-
Zinc Growth	-	-63.57%	-	-	-	-	-	-	-	-
Lead	-	900K	-	-	-	-	-	-	-	-
Lead Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2012	2013	2017	2018	2019	2020	2021	2022	2023	2024
Canada	-	-	-	-	-	-	-	4.35B	5.26B	6.91B
Canada Growth	-	-	-	-	-	-	-	-	20.99%	31.26%
Australia	-	-	-	-	-	-	-	645.37M	552.47M	545.15M
Australia Growth	-	-	-	-	-	-	-	-	-14.40%	-1.32%
Mexico	-	-	-	-	-	-	405.11M	339.52M	364.36M	311.16M
Mexico Growth	-	-	-	-	-	-	-	-16.19%	7.31%	-14.60%
Canada..	-	-	-	-	-	-	3B	-	-	-
Canada.. Growth	-	-	-	-	-	-	-	-	-	-
C	-	-	1.54B	1.5B	1.79B	2.3B	-	-	-	-
C Growth	-	-	-	-2.61%	19.36%	28.11%	-	-	-	-
M	-	-	451.65M	452.05M	441.88M	469.34M	-	-	-	-
M Growth	-	-	-	0.09%	-2.25%	6.22%	-	-	-	-
CANADA	1.18B	-	-	-	-	-	-	-	-	-
CANADA Growth	-	-	-	-	-	-	-	-	-	-
Latin America	450.66M	-	-	-	-	-	-	-	-	-
Latin America Growth	-	-	-	-	-	-	-	-	-	-
Europe	284.43M	-	-	-	-	-	-	-	-	-
Europe Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Agnico Eagle Mines Limited (AEM) has a price-to-earnings (P/E) ratio of 53.0x. This suggests investors expect higher future growth.

Growth & Financials

Agnico Eagle Mines Limited (AEM) reported $10.46B in revenue for fiscal year 2024. This represents a 491% increase from $1.77B in 2011.

Agnico Eagle Mines Limited (AEM) grew revenue by 22.8% over the past year. This is strong growth.

Yes, Agnico Eagle Mines Limited (AEM) is profitable, generating $3.42B in net income for fiscal year 2024 (22.9% net margin).

Dividend & Returns

Yes, Agnico Eagle Mines Limited (AEM) pays a dividend with a yield of 0.67%. This makes it attractive for income-focused investors.

Agnico Eagle Mines Limited (AEM) has a return on equity (ROE) of 9.4%. This is below average, suggesting room for improvement.

Agnico Eagle Mines Limited (AEM) generated $3.67B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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