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 Beneish M-Score Chart
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Agnico Eagle Mines Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.12 |
-2.60 |
-2.73 |
-2.01 |
-2.25 |
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Agnico Eagle Mines Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
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Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-2.59 |
0.84 |
-2.25 |
-2.47 |
-2.69 |
Competitive Comparison of Agnico Eagle Mines's Beneish M-Score
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's Beneish M-Score Distribution in the Metals & Mining Industry
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 * 0.8576 | + | 0.528 * 0.9396 | + | 0.404 * 0.9048 | + | 0.892 * 1.2051 | + | 0.115 * 0.8251 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8727 | + | 4.679 * -0.04936 | - | 0.327 * 0.9762 |
| = | -2.72 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was $179 Mil.
Revenue was 2076.621 + 1829.823 + 1756.64 + 1642.411 = $7,305 Mil.
Gross Profit was 926.248 + 689.013 + 587.629 + 468.006 = $2,671 Mil.
Total Current Assets was $2,712 Mil.
Total Assets was $29,291 Mil.
Property, Plant and Equipment(Net PPE) was $21,173 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,542 Mil.
Selling, General, & Admin. Expense(SGA) was $210 Mil.
Total Current Liabilities was $1,791 Mil.
Long-Term Debt & Capital Lease Obligation was $1,207 Mil.
Net Income was 472.016 + 347.192 + -381.011 + 178.606 = $617 Mil.
Non Operating Income was -67.607 + -54.584 + -741.821 + -47.845 = $-912 Mil.
Cash Flow from Operations was 961.336 + 783.175 + 727.861 + 502.088 = $2,974 Mil.
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Total Receivables was $173 Mil.
Revenue was 1718.197 + 1509.661 + 1384.719 + 1449.697 = $6,062 Mil.
Gross Profit was 588.63 + 552.558 + 432.172 + 509.138 = $2,082 Mil.
Total Current Assets was $2,109 Mil.
Total Assets was $29,312 Mil.
Property, Plant and Equipment(Net PPE) was $21,224 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,259 Mil.
Selling, General, & Admin. Expense(SGA) was $200 Mil.
Total Current Liabilities was $1,006 Mil.
Long-Term Debt & Capital Lease Obligation was $2,067 Mil.
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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) |
| = | (178.795 / 7305.495) | / | (173.003 / 6062.274) |
| = | 0.024474 | / | 0.028538 |
| | = | 0.8576 |
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) |
| = | (2082.498 / 6062.274) | / | (2670.896 / 7305.495) |
| = | 0.343518 | / | 0.365601 |
| | = | 0.9396 |
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 - (2712.334 + 21173.067) / 29291.206) | / | (1 - (2109.251 + 21223.554) / 29311.652) |
| = | 0.184554 | / | 0.203975 |
| | = | 0.9048 |
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 |
| = | 7305.495 | / | 6062.274 |
| | = | 1.2051 |
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)) |
| = | (1259.429 / (1259.429 + 21223.554)) | / | (1542.164 / (1542.164 + 21173.067)) |
| = | 0.056017 | / | 0.067891 |
| | = | 0.8251 |
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) |
| = | (209.867 / 7305.495) | / | (199.564 / 6062.274) |
| = | 0.028727 | / | 0.032919 |
| | = | 0.8727 |
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) |
| = | ((1207.032 + 1791.224) / 29291.206) | / | ((2067.479 + 1005.956) / 29311.652) |
| = | 0.10236 | / | 0.104854 |
| | = | 0.9762 |
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 |
| = | (616.803 - -911.857 | - | 2974.46) | / | 29291.206 |
| | = | -0.04936 |
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 -2.72 suggests that the company is unlikely to be a manipulator.
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