Agnico Eagle Mines Limited (AEM) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Gold
EV/EBITDA
↑
11.47
↑+27% vs avg
5yr avg: 9.04
30Y Low8.1·High93.1
P/FCF
↓
22.06
↓-21% vs avg
5yr avg: 28.06
30Y Low18.4·High136.9
P/B Ratio
↑
3.82
↑+86% vs avg
5yr avg: 2.06
30Y Low1.2·High3.9
ROE
↑
19.6%
↓+77% vs avg
5yr avg: 11.1%
30Y Low-63%·High20%
Debt/EBITDA
↓
0.04
↓-92% vs avg
5yr avg: 0.50
30Y Low0.0·High17.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AEM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Agnico Eagle Mines Limited trades at 21.2x earnings, roughly in line with its 5-year average of 22.2x, sitting at the 17th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.4x, the stock trades at a discount of 9%. On a free-cash-flow basis, the stock trades at 22.1x P/FCF, 21% below the 5-year average of 28.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $94.0B | $85.3B | $39.2B | $26.9B | $22.8B | $13.0B | $17.1B | $14.7B | $9.4B | $10.7B | $9.5B |
| Enterprise Value | $91.5B | $82.8B | $39.5B | $28.5B | $23.6B | $14.5B | $18.4B | $16.2B | $10.8B | $11.5B | $10.2B |
| P/E Ratio → | 21.18 | 19.13 | 20.69 | 13.85 | 33.98 | 23.31 | 33.58 | 30.96 | — | 43.98 | 60.00 |
| P/S Ratio | 7.90 | 7.17 | 4.73 | 3.98 | 4.14 | 3.39 | 5.19 | 5.75 | 4.53 | 4.62 | 4.49 |
| P/B Ratio | 3.82 | 3.45 | 1.88 | 1.38 | 1.40 | 2.17 | 3.02 | 2.87 | 2.07 | 2.17 | 2.11 |
| P/FCF | 22.06 | 20.03 | 18.42 | 28.36 | 40.83 | 32.65 | 39.61 | — | — | — | 36.11 |
| P/OCF | 13.79 | 12.52 | 9.89 | 10.33 | 10.87 | 9.67 | 14.38 | 16.65 | 15.56 | 13.99 | 12.18 |
P/E links to full P/E history page with 30-year chart
AEM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Agnico Eagle Mines Limited's enterprise value stands at 11.5x EBITDA, 27% above its 5-year average of 9.0x. This is roughly in line with the Basic Materials sector median of 11.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.95 | 4.77 | 4.23 | 4.29 | 3.78 | 5.58 | 6.34 | 5.22 | 4.94 | 4.81 |
| EV / EBITDA | 11.47 | 10.39 | 8.48 | 8.70 | 9.48 | 8.13 | 12.01 | 15.54 | 15.16 | 11.95 | 12.06 |
| EV / EBIT | 14.46 | 12.30 | 13.59 | 11.41 | 20.81 | 14.38 | 20.37 | 18.89 | — | 26.83 | 30.30 |
| EV / FCF | — | 19.43 | 18.59 | 30.12 | 42.32 | 36.44 | 42.57 | — | — | — | 38.68 |
AEM Profitability
Margins and return-on-capital ratios measuring operating efficiency
Agnico Eagle Mines Limited earns an operating margin of 53.1%, significantly above the Basic Materials sector average of 10.2%. Operating margins have expanded from 25.6% to 53.1% over the past 3 years, signaling improving operational efficiency. ROE of 19.6% indicates solid capital efficiency. ROIC of 21.9% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.1% | 58.1% | 44.5% | 29.5% | 29.9% | 31.0% | 30.8% | 23.7% | 15.2% | 23.6% | 16.0% |
| Operating Margin | 53.1% | 53.1% | 38.0% | 25.6% | 25.9% | 27.3% | 26.2% | 18.7% | 8.8% | 18.4% | 11.0% |
| Net Profit Margin | 37.5% | 37.5% | 22.9% | 29.3% | 11.7% | 14.5% | 16.3% | 19.0% | -14.9% | 10.7% | 7.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.6% | 19.6% | 9.4% | 11.1% | 5.8% | 9.5% | 10.0% | 10.0% | -6.5% | 5.3% | 3.6% |
| ROA | 13.8% | 13.8% | 6.5% | 7.6% | 3.8% | 5.6% | 5.9% | 5.8% | -3.9% | 3.3% | 2.3% |
| ROIC | 21.9% | 21.9% | 11.2% | 6.8% | 8.7% | 10.9% | 9.5% | 5.7% | 2.4% | 5.9% | 3.4% |
| ROCE | 20.9% | 20.9% | 11.2% | 6.9% | 8.9% | 11.3% | 10.1% | 6.2% | 2.4% | 6.0% | 3.6% |
AEM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Agnico Eagle Mines Limited carries a Debt/EBITDA ratio of 0.0x, which is very conservative (98% below the sector average of 2.7x). The company holds a net cash position — cash of $2.9B exceeds total debt of $321M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 241.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.06 | 0.10 | 0.09 | 0.28 | 0.30 | 0.36 | 0.38 | 0.28 | 0.27 |
| Debt / EBITDA | 0.04 | 0.04 | 0.27 | 0.61 | 0.60 | 0.95 | 1.10 | 1.77 | 2.41 | 1.43 | 1.44 |
| Net Debt / Equity | — | -0.10 | 0.02 | 0.09 | 0.05 | 0.25 | 0.23 | 0.30 | 0.31 | 0.15 | 0.15 |
| Net Debt / EBITDA | -0.32 | -0.32 | 0.08 | 0.51 | 0.33 | 0.85 | 0.84 | 1.46 | 1.99 | 0.77 | 0.80 |
| Debt / FCF | — | -0.60 | 0.17 | 1.76 | 1.49 | 3.79 | 2.96 | — | — | — | 2.57 |
| Interest Coverage | 241.37 | 241.37 | 32.87 | 25.28 | 17.65 | 11.91 | 9.38 | 8.43 | -1.90 | 5.60 | 4.79 |
Net cash position: cash ($2.9B) exceeds total debt ($321M)
AEM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Agnico Eagle Mines Limited's current ratio of 2.02x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.33x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.09x to 2.02x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.02 | 2.02 | 1.86 | 2.09 | 2.30 | 1.71 | 2.42 | 1.42 | 2.97 | 4.38 | 2.90 |
| Quick Ratio | 1.33 | 1.33 | 0.86 | 0.74 | 1.03 | 0.56 | 1.20 | 0.67 | 1.60 | 2.88 | 1.86 |
| Cash Ratio | 1.16 | 1.16 | 0.62 | 0.33 | 0.71 | 0.25 | 0.79 | 0.43 | 1.06 | 2.30 | 1.51 |
| Asset Turnover | — | 0.35 | 0.28 | 0.24 | 0.23 | 0.38 | 0.34 | 0.29 | 0.26 | 0.30 | 0.30 |
| Inventory Turnover | 2.93 | 2.93 | 3.05 | 3.35 | 3.20 | 3.01 | 3.63 | 3.36 | 3.57 | 3.54 | 4.00 |
| Days Sales Outstanding | — | 6.34 | 8.35 | 10.00 | 9.52 | 9.77 | 9.19 | 12.79 | 21.27 | 17.15 | 1.41 |
AEM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Agnico Eagle Mines Limited returns 1.5% to shareholders annually — split between a 0.8% dividend yield and 0.7% buyback yield. The payout ratio of 16.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.9% | 1.7% | 2.4% | 2.7% | 2.1% | 1.1% | 0.7% | 0.9% | 0.7% | 0.8% |
| Payout Ratio | 16.3% | 16.3% | 35.4% | 32.3% | 94.5% | 49.4% | 35.3% | 21.8% | — | 30.5% | 45.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 5.2% | 4.8% | 7.2% | 2.9% | 4.3% | 3.0% | 3.2% | — | 2.3% | 1.7% |
| FCF Yield | 4.5% | 5.0% | 5.4% | 3.5% | 2.4% | 3.1% | 2.5% | — | — | — | 2.8% |
| Buyback Yield | 0.7% | 0.8% | 0.4% | 0.2% | 0.5% | 0.3% | 0.0% | 0.0% | 0.3% | 0.2% | 0.2% |
| Total Shareholder Yield | 1.5% | 1.7% | 2.1% | 2.6% | 3.2% | 2.4% | 1.1% | 0.7% | 1.2% | 0.9% | 0.9% |
| Shares Outstanding | — | $503M | $501M | $490M | $439M | $245M | $243M | $238M | $233M | $232M | $226M |
Peer Comparison
Compare AEM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AEMYou | $94B | 21.2 | 11.5 | 22.1 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 NEM | $126B | 17.7 | 9.0 | 17.2 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 WPM | $60B | 40.0 | 30.3 | 104.1 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 KGC | $36B | 15.3 | 8.3 | 14.2 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 AU | $51B | 19.3 | 9.1 | 16.3 | 46.5% | 45.1% | 28.6% | 35.9% | 0.4 |
 EGO | $7B | 13.2 | 6.7 | — | 44.9% | 41.5% | 12.6% | 13.3% | 1.2 |
 IAG | $11B | 15.8 | 7.2 | 14.0 | 41.2% | 38.9% | 17.7% | 19.1% | 0.5 |
 BTG | $7B | 17.7 | 3.7 | 100.2 | 50.0% | 45.9% | 12.1% | 30.0% | 0.3 |
 HL | $12B | 36.9 | 17.3 | 39.1 | 41.1% | 37.5% | 13.9% | 15.3% | 0.4 |
 CDE | $12B | 20.1 | 11.2 | 17.5 | 39.3% | 36.3% | 26.4% | 23.5% | 0.4 |
 AGI | $18B | 20.2 | 17.0 | 65.6 | 54.3% | 44.5% | 22.2% | 15.9% | 0.2 |
| Basic Materials Median | — | 23.4 | 11.2 | 28.0 | 31.6% | 10.2% | 1.0% | 4.4% | 2.7 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Full AEM Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See AEM's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs AEM Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare AEM vs NEM
Side-by-side business, growth, and profitability comparison vs Newmont Corporation.
Start ComparisonAEM — Frequently Asked Questions
Quick answers to the most common questions about buying AEM stock.
What is Agnico Eagle Mines Limited's P/E ratio?
Agnico Eagle Mines Limited's current P/E ratio is 21.2x. The historical average is 42.6x. This places it at the 17th percentile of its historical range.
What is Agnico Eagle Mines Limited's EV/EBITDA?
Agnico Eagle Mines Limited's current EV/EBITDA is 11.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.0x.
What is Agnico Eagle Mines Limited's ROE?
Agnico Eagle Mines Limited's return on equity (ROE) is 19.6%. The historical average is 1.0%.
Is AEM stock overvalued?
Based on historical data, Agnico Eagle Mines Limited is trading at a P/E of 21.2x. This is at the 17th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Agnico Eagle Mines Limited's dividend yield?
Agnico Eagle Mines Limited's current dividend yield is 0.77% with a payout ratio of 16.3%.
What are Agnico Eagle Mines Limited's profit margins?
Agnico Eagle Mines Limited has 58.1% gross margin and 53.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Agnico Eagle Mines Limited have?
Agnico Eagle Mines Limited's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.