Agnico Eagle Mines Beneish M-Score Historical Data
The historical data trend for Agnico Eagle Mines's Beneish M-Score 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.
|
Agnico Eagle Mines Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
-3.12 |
-2.60 |
-2.73 |
-2.01 |
-2.25 |
|
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 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.01 |
-2.67 |
-2.60 |
0.84 |
-2.25 |
Competitive Comparison
For the Gold subindustry, Agnico Eagle Mines's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.
Agnico Eagle Mines Beneish M-Score Distribution
For the Metals & Mining industry and Basic Materials sector, Agnico Eagle Mines's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Agnico Eagle Mines's Beneish M-Score falls into.
Agnico Eagle Mines Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Agnico Eagle Mines for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.1132 | + | 0.528 * 1.0501 | + | 0.404 * 1.5123 | + | 0.892 * 1.1543 | + | 0.115 * 0.8524 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8177 | + | 4.679 * -0.049272 | - | 0.327 * 1.0335 |
| = | -2.23 |
* 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.
| This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $185 Mil.
Revenue was 1756.64 + 1642.411 + 1718.197 + 1509.661 = $6,627 Mil.
Gross Profit was 587.629 + 468.006 + 593.682 + 552.558 = $2,202 Mil.
Total Current Assets was $2,191 Mil.
Total Assets was $28,685 Mil.
Property, Plant and Equipment(Net PPE) was $21,222 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,492 Mil.
Selling, General, & Admin. Expense(SGA) was $208 Mil.
Total Current Liabilities was $1,048 Mil.
Long-Term Debt & Capital Lease Obligation was $1,858 Mil.
Net Income was -381.011 + 178.606 + 326.821 + 1816.891 = $1,941 Mil.
Non Operating Income was -741.908 + -49.735 + 18.159 + 1526.585 = $753 Mil.
Cash Flow from Operations was 727.861 + 502.088 + 722 + 649.613 = $2,602 Mil.
|
Total Receivables was $144 Mil.
Revenue was 1384.719 + 1449.697 + 1581.058 + 1325.688 = $5,741 Mil.
Gross Profit was 432.172 + 509.138 + 653.531 + 408.309 = $2,003 Mil.
Total Current Assets was $2,180 Mil.
Total Assets was $23,495 Mil.
Property, Plant and Equipment(Net PPE) was $18,459 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,095 Mil.
Selling, General, & Admin. Expense(SGA) was $221 Mil.
Total Current Liabilities was $946 Mil.
Long-Term Debt & Capital Lease Obligation was $1,357 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (184.903 / 6626.909) | / | (143.9 / 5741.162) |
| = | 0.027902 | / | 0.025065 |
| | = | 1.1132 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (2003.15 / 5741.162) | / | (2201.875 / 6626.909) |
| = | 0.34891 | / | 0.332263 |
| | = | 1.0501 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (2191.152 + 21221.905) / 28684.949) | / | (1 - (2180.059 + 18459.4) / 23494.808) |
| = | 0.183786 | / | 0.121531 |
| | = | 1.5123 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 6626.909 | / | 5741.162 |
| | = | 1.1543 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (1094.691 / (1094.691 + 18459.4)) | / | (1491.771 / (1491.771 + 21221.905)) |
| = | 0.055983 | / | 0.065677 |
| | = | 0.8524 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (208.451 / 6626.909) | / | (220.861 / 5741.162) |
| = | 0.031455 | / | 0.03847 |
| | = | 0.8177 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((1858.24 + 1048.026) / 28684.949) | / | ((1356.946 + 946.422) / 23494.808) |
| = | 0.101317 | / | 0.098037 |
| | = | 1.0335 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (1941.307 - 753.101 | - | 2601.562) | / | 28684.949 |
| | = | -0.049272 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Agnico Eagle Mines has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
AEM has been successfully added to your