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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Agnico Eagle Mines's Sloan Ratio for the quarter that ended in Jun. 2026 was 4.63%.
As of Jun. 2026, Agnico Eagle Mines has a Sloan Ratio of 4.63%, indicating the company is in the safe zone and there is no funny business with accruals.
Agnico Eagle Mines (NYSE:AEM) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Jun. 2026, Agnico Eagle Mines has a Sloan Ratio of 4.63%, indicating the company is in the safe zone and there is no funny business with accruals.
Agnico Eagle Mines Sloan Ratio % Related Terms
Agnico Eagle Mines Sloan Ratio % Historical Data
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The historical data trend for Agnico Eagle Mines's Sloan Ratio % 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.
For the Gold subindustry, Agnico Eagle Mines's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Agnico Eagle Mines's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Agnico Eagle Mines's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Agnico Eagle Mines's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Agnico Eagle Mines's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was 1054.958 (Sep. 2025 ) + 1523.061 (Dec. 2025 ) + 1695.461 (Mar. 2026 ) + 1600.453 (Jun. 2026 ) = $5,874 Mil.
Agnico Eagle Mines's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 1815.875 (Sep. 2025 ) + 2111.504 (Dec. 2025 ) + 1345.868 (Mar. 2026 ) + 2144.12 (Jun. 2026 ) = $7,417 Mil.
Agnico Eagle Mines's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was -288.064 (Sep. 2025 ) + -1049.355 (Dec. 2025 ) + -764.859 (Mar. 2026 ) + -1189.583 (Jun. 2026 ) = $-3,292 Mil.
* 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 (AEM) has a Sloan Ratio % of 4.63% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Agnico Eagle Mines and its competitors.
Is Agnico Eagle Mines' Sloan Ratio % too high?
Agnico Eagle Mines' current Sloan Ratio % is 4.63%. Overall, Agnico Eagle Mines has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Agnico Eagle Mines' Sloan Ratio % compare to NEM and AU?
Agnico Eagle Mines' Sloan Ratio % of 4.63% 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 Sloan Ratio % for a Metals & Mining company?
A good Sloan Ratio % depends on the Metals & Mining industry context. However, Sloan Ratio % 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 Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Agnico Eagle Mines and its competitors. Agnico Eagle Mines's current Sloan Ratio % is 4.63%. 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 (AEM) is currently considered Fairly Valued. The stock's GF Value™ is $171.92, compared to a current price of $165.45 — trading 3.8% below its estimated fair value. The current Sloan Ratio % is 4.63%. Agnico Eagle Mines' overall GF Score™ is 93/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Agnico Eagle Mines (AEM), the current Sloan Ratio % is 4.63% as of Jun. 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 (AEM) Overvalued in 2026?
Based on GuruFocus' analysis, Agnico Eagle Mines stock appears to be undervalued.
The current stock price of $165.45 is trading 3.8% below its estimated GF Value™ of $171.92.
GuruFocus considers Agnico Eagle Mines to be Fairly Valued.
Key valuation signals for AEM:
Sloan Ratio %: 4.63%
GF Value™: $171.92 vs. price of $165.45 (3.8% below fair value)
No single metric tells the full story. See the AEM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
93GF Score
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