Agnico Eagle Mines (TSX:AEM) ROCE %: 31.36% (As of Mar. 2026)


TSX:AEM Agnico Eagle Mines Ltd TSX:AEM
98 GF Score
Price C$223.07
GF Value C$226.47
Valuation Fairly Valued
! 1 Warning Sign
View Full Analysis

What is Agnico Eagle Mines ROCE %?

Agnico Eagle Mines TSX:AEM +0.44% 98 ROCE % is 31.36% as of Mar. 2026. GuruFocus rates TSX:AEM with a GF Score™ of 98/100 and a GF Value™ of C$226.47 (Fairly Valued). The stock has 1 warning sign investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Agnico Eagle Mines's annualized ROCE % for the quarter that ended in Mar. 2026 was 31.36%.

Agnico Eagle Mines  (TSX:AEM) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Agnico Eagle Mines ROCE % Related Terms

Agnico Eagle Mines ROCE % Historical Data

* Premium members only.

The historical data trend for Agnico Eagle Mines's ROCE % 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 ROCE % Chart

Agnico Eagle Mines Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.87 7.48 9.71 10.67 21.94

Agnico Eagle Mines Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 16.90 21.63 21.26 29.06 31.36
TSX:AEM
98GF Score
Agnico Eagle Mines Ltd TSX:AEM
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Agnico Eagle Mines ROCE % Calculation

Agnico Eagle Mines's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=9294.178/( ( (42722.505 - 2154.097) + (47553.146 - 3410.408) )/ 2 )
=9294.178/( (40568.408+44142.738)/ 2 )
=9294.178/42355.573
=21.94 %

Agnico Eagle Mines's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=14133.684/( ( (47553.146 - 3410.408) + (48233.622 - 2235.43) )/ 2 )
=14133.684/( ( 44142.738 + 45998.192 )/ 2 )
=14133.684/45070.465
=31.36 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 31.36% mean?
Agnico Eagle Mines (TSX:AEM) has a ROCE % of 31.36% as of Mar. 2026.
Is Agnico Eagle Mines' ROCE % too high?
Agnico Eagle Mines' current ROCE % is 31.36%. Overall, Agnico Eagle Mines has a GF Score™ of 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Agnico Eagle Mines' ROCE % compare to NEM and AU?
Agnico Eagle Mines' ROCE % of 31.36% can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Metals & Mining company?
A good ROCE % depends on the Metals & Mining industry context. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. Agnico Eagle Mines's current ROCE % is 31.36%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Agnico Eagle Mines stock overvalued right now?
Based on GuruFocus' analysis, Agnico Eagle Mines (TSX:AEM) is currently considered Fairly Valued. The stock's GF Value™ is C$226.47, compared to a current price of C$223.07 — trading 1.5% below its estimated fair value. The current ROCE % is 31.36%. Agnico Eagle Mines' overall GF Score™ is 98/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Agnico Eagle Mines (TSX:AEM), the current ROCE % is 31.36% as of Mar. 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 Agnico Eagle Mines (TSX:AEM) Overvalued in 2026?

Based on GuruFocus' analysis, Agnico Eagle Mines stock appears to be undervalued. The current stock price of C$223.07 is trading 1.5% below its estimated GF Value™ of C$226.47. GuruFocus considers Agnico Eagle Mines to be Fairly Valued.

Key valuation signals for TSX:AEM:

  • ROCE %: 31.36%
  • GF Value™: C$226.47 vs. price of C$223.07 (1.5% below fair value)
  • GF Score™: 98/100 with 1 warning sign

No single metric tells the full story. See the TSX:AEM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Agnico Eagle Mines Business Description

Address 145 King Street East, Suite 400, Toronto, ON, CAN, M5C 2Y7
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 sold around 3.4 million gold ounces in 2025 and had about 15 years of gold reserves at end 2025. 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.
98GF Score

Get the complete analysis for TSX:AEM

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$223.07
Price
C$226.47
GF Value