Agnico Eagle Mines (Agnico Eagle Mines) Operating Income : $1,695 Mil (TTM As of Dec. 2023)

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What is Agnico Eagle Mines Operating Income?

Agnico Eagle Mines's Operating Income for the three months ended in Dec. 2023 was $418 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $1,695 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Agnico Eagle Mines's Operating Income for the three months ended in Dec. 2023 was $418 Mil. Agnico Eagle Mines's Revenue for the three months ended in Dec. 2023 was $1,757 Mil. Therefore, Agnico Eagle Mines's Operating Margin % for the quarter that ended in Dec. 2023 was 23.77%.

Good Sign:

Agnico Eagle Mines Ltd operating margin is expanding. Margin expansion is usually a good sign.

Agnico Eagle Mines's 5-Year average Growth Rate for Operating Margin % was 19.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Agnico Eagle Mines's annualized ROC % for the quarter that ended in Dec. 2023 was 7.08%. Agnico Eagle Mines's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -5.95%.

Agnico Eagle Mines Operating Income Historical Data

The historical data trend for Agnico Eagle Mines's Operating Income 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.

* Premium members only.

Agnico Eagle Mines Operating Income Chart

Agnico Eagle Mines Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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466.85

822.04

1,056.73

1,442.91

1,694.63

Agnico Eagle Mines Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															268.66	439.89	482.54	355.12	417.64

Agnico Eagle Mines Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,695 Mil.

Agnico Eagle Mines (NYSE:AEM) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Agnico Eagle Mines's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1670.552 * ( 1 - -17.57% )	/	( (27999.085	+	27490.274)	/ 2 )
=	1964.0679864	/	27744.6795
=	7.08 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	29225.681	-	861.733	-	( 364.863	-	max(0, 1103.06	-	2192.169	+	364.863	))
=	27999.085

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	28684.949	-	845.828	-	( 348.847	-	max(0, 1048.026	-	2191.152	+	348.847	))
=	27490.274

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Agnico Eagle Mines's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-1311.42	/	( ( (21426.291 + max(691.045, 0))	+	(21221.905 + max(763.918, 0)) )	/	2 )
=	-1311.42	/	( ( 22117.336	+	21985.823 )	/	2 )
=	-1311.42	/	22051.5795
=	-5.95 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.569	+	1403.677	+	234.097)	-	(861.733	+	0	+	92.565)
=	691.045

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(8.148	+	1418.941	+	238.461)	-	(845.828	+	0	+	55.804)
=	763.918

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Agnico Eagle Mines's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	417.638	/	1756.64
	=	23.77 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Agnico Eagle Mines Operating Income Related Terms

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Agnico Eagle Mines (Agnico Eagle Mines) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Agnico Eagle Mines Ltd (NYSE:AEM) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

AEM:Mexico AE9:Germany AE9:Germany AE9:Germany AEM:Canada AEM:Argentina

Address

145 King Street East, Suite 400, Toronto, ON, CAN, M5C 2Y7

Website

https://www.agnicoeagle.com

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.1 million gold ounces in 2022 and had about 15 years of gold reserves at end 2022. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.