Agnico Eagle Mines Limited (AEM) Balance Sheet
AEM balance sheet, 2025
December 31, 2025 · U.S. dollars$34.47B assets = $9.73B liabilities + $24.74B equity
Both columns are drawn to the same scale: what AEM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AEM financial health
Descriptive bands, not a rating. Fiscal 2025.
AEM balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.11B2016 | $34.47B2025 | +19.2%/yr | |
| Total liabilities | $2.62B2016 | $9.73B2025 | +15.7%/yr | |
| Shareholders’ equity | $4.49B2016 | $24.74B2025 | +20.9%/yr | |
| Cash & short-term investments | $640.7M2016 | $2.87B2025 | +18.2%/yr | |
| Total debt | $1.21B2016 | $321.5M2025 | −13.7%/yr | |
| Net cash (debt) | −$573.8M2016 | $2.55B2025 | +$3.1B | |
| Working capital | $806.6M2016 | $2.52B2025 | +$1.7B | |
| Book value per share | $19.902016 | $49.152025 | +10.6%/yr | |
| Current ratio | 2.902016 | 2.022025 | −0.88 | |
| Debt / equity | 0.272016 | 0.012025 | −0.26 | |
| Shares outstanding | 225.8M2016 | 503.4M2025 | +9.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AEM assets
AEM liabilities and equity
AEM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AEM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.87B | $933.7M | $348.8M | $668.5M | $191.1M | $406.5M | $337.0M | $384.4M | $766.7M | $640.7M |
| Cash & equivalents | $2.87B | $926.4M | $338.6M | $658.6M | $185.8M | $402.5M | $321.9M | $301.8M | $633.0M | $540.0M |
| Short-term investments | $8.9M | $7.3M | $10.2M | $9.9M | $5.3M | $3.9M | $15.1M | $82.6M | $133.7M | $100.7M |
| Receivables | $206.8M | $189.6M | $184.0M | $143.8M | $13.5M | $11.9M | $89.4M | $121.2M | $25.6M | $8.2M |
| Inventory | $1.70B | $1.51B | $1.42B | $1.21B | $878.9M | $630.5M | $580.1M | $494.1M | $501.0M | $443.7M |
| Other current assets | $213.4M | $171.2M | $239.4M | $158.6M | $218.8M | $198.4M | $95.8M | $72.7M | $168.3M | $137.6M |
| Total current assets | $4.99B | $2.81B | $2.19B | $2.18B | $1.30B | $1.25B | $1.10B | $1.07B | $1.46B | $1.23B |
| Property, plant & equipment (net) | $22.85B | $21.47B | $21.22B | $18.46B | $7.68B | $7.33B | $7.00B | $6.23B | $5.63B | $5.11B |
| Goodwill & intangible assets | $4.16B | $4.16B | $4.16B | $2.06B | $407.8M | $407.8M | $407.8M | $407.8M | $1.39B | $1.39B |
| Long-term investments | $1.43B | $571.5M | $334.6M | $332.7M | $343.5M | $375.1M | $0 | $0 | $801,000 | $764,000 |
| Other non-current assets | $1.04B | $986.0M | $779.6M | $465.2M | $486.8M | $259.3M | $276.1M | $138.3M | $0 | $0 |
| Total assets | $34.47B | $29.99B | $28.68B | $23.49B | $10.22B | $9.61B | $8.79B | $7.85B | $7.87B | $7.11B |
| Liabilities | ||||||||||
| Accounts payable | $344.6M | $296.0M | $317.9M | $259.0M | $189.1M | $167.1M | $158.3M | $163.0M | $290.7M | $111.2M |
| Short-term debt | $30.5M | $130.3M | $146.4M | $136.5M | $258.0M | $20.9M | $374.7M | $1.9M | $3.4M | $135.4M |
| Deferred revenue | — | — | $80.8M | — | $67.1M | $130.1M | — | $40.6M | −$146.6M | −$1 |
| Total current liabilities | $2.47B | $1.51B | $1.05B | $946.4M | $761.8M | $515.7M | $775.6M | $361.4M | $333.8M | $423.6M |
| Long-term debt | $291.0M | $1.15B | $1.86B | $1.36B | $1.44B | $1.66B | $1.47B | $1.72B | $1.37B | $1.07B |
| Lease obligations | $125.2M | $139.2M | $161.5M | $151.3M | $131.4M | $120.3M | $116.8M | $1.9M | $5.3M | $11.9M |
| Other long-term liabilities | $6.97B | $6.49B | $6.36B | $4.95B | $2.02B | $1.75B | $1.44B | $1.22B | $1.21B | $1.12B |
| Total liabilities | $9.73B | $9.15B | $9.26B | $7.25B | $4.22B | $3.93B | $3.68B | $3.30B | $2.92B | $2.62B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $18.70B | $18.68B | $18.33B | $16.25B | $5.86B | $5.75B | $5.59B | $5.36B | $5.29B | $4.99B |
| Retained earnings (deficit) | $5.46B | $2.03B | $958.2M | −$201.6M | −$146.4M | −$366.4M | −$647.3M | −$988.9M | −$595.8M | −$744.5M |
| Accumulated other comprehensive income | $411.9M | −$41.1M | $102.3M | $168.3M | $245.1M | $260.9M | $132.2M | $139.5M | $30.3M | $212.0M |
| Total shareholders' equity | $24.74B | $20.83B | $19.42B | $16.24B | $6.00B | $5.68B | $5.11B | $4.55B | $4.95B | $4.49B |
| Key figures | ||||||||||
| Total debt | $321.5M | $1.28B | $2.00B | $1.49B | $1.70B | $1.69B | $1.84B | $1.72B | $1.38B | $1.21B |
| Net cash (debt) | $2.55B | −$348.4M | −$1.66B | −$824.9M | −$1.51B | −$1.28B | −$1.50B | −$1.34B | −$610.5M | −$573.8M |
| Working capital | $2.52B | $1.29B | $1.14B | $1.23B | $540.6M | $731.5M | $326.7M | $711.0M | $1.13B | $806.6M |
| Tangible book value | $20.58B | $16.68B | $15.27B | $14.18B | $5.59B | $5.28B | $4.70B | $4.14B | $3.55B | $3.10B |
| Book value per share | $49.15 | $41.52 | $39.65 | $37.04 | $24.52 | $23.38 | $21.46 | $19.51 | $21.28 | $19.90 |
| Shares outstanding | 503.4M | 501.7M | 489.9M | 438.5M | 244.7M | 243.1M | 238.2M | 233.3M | 232.5M | 225.8M |
| Current ratio | 2.02 | 1.86 | 2.09 | 2.30 | 1.71 | 2.42 | 1.42 | 2.97 | 4.38 | 2.90 |
| Quick ratio | 1.25 | 0.74 | 0.51 | 0.86 | 0.27 | 0.81 | 0.55 | 1.40 | 2.37 | 1.53 |
| Debt / equity | 0.01 | 0.06 | 0.10 | 0.09 | 0.28 | 0.30 | 0.36 | 0.38 | 0.28 | 0.27 |
| Equity / assets | 71.8% | 69.5% | 67.7% | 69.1% | 58.7% | 59.1% | 58.2% | 57.9% | 62.9% | 63.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $3.47B | $3.12B | $2.87B | $2.37B | $1.57B | $1.15B | $933.7M | $977.2M | $930.4M | $533.0M | $348.8M | $364.9M |
| Cash & equivalents | $3.46B | $3.11B | $2.87B | $2.35B | $1.56B | $1.14B | $926.4M | $977.2M | $922.0M | $524.6M | $338.6M | $355.5M |
| Short-term investments | $13.9M | $10.8M | $8.9M | $16.1M | $11.6M | $14.0M | $7.3M | $26.2M | $8.4M | $8.3M | $10.2M | $9.4M |
| Receivables | $185.9M | $192.1M | $206.8M | $156.7M | $155.6M | $167.6M | $189.6M | $164.1M | $178.8M | $169.9M | $184.9M | $188.6M |
| Inventory | $1.62B | $1.58B | $1.70B | $1.71B | $1.50B | $1.45B | $1.51B | $1.53B | $1.36B | $1.35B | $1.42B | $1.40B |
| Other current assets | $235.8M | $235.6M | $213.4M | $224.3M | $261.2M | $166.0M | $171.2M | $235.8M | $247.5M | $192.6M | $238.5M | $235.0M |
| Total current assets | $5.52B | $5.13B | $4.99B | $4.46B | $3.49B | $2.93B | $2.81B | $2.91B | $2.71B | $2.25B | $2.19B | $2.19B |
| Property, plant & equipment (net) | $25.70B | $23.03B | $22.85B | $22.15B | $22.01B | $21.65B | $21.47B | $21.39B | $21.17B | $21.19B | $21.22B | $21.43B |
| Goodwill & intangible assets | $4.15B | $4.16B | $4.16B | $4.15B | $4.16B | $4.16B | $4.16B | $4.16B | $4.16B | $4.16B | $4.16B | $4.58B |
| Long-term investments | $1.28B | $1.73B | $1.43B | $952.3M | $968.4M | $812.8M | $571.5M | $523.8M | $377.6M | $369.4M | $334.6M | $274.2M |
| Other non-current assets | $1.09B | $1.11B | $1.04B | $934.4M | $1.07B | $1.04B | $986.0M | $790.4M | $870.6M | $836.2M | $779.6M | $752.4M |
| Total assets | $37.75B | $35.16B | $34.47B | $32.66B | $31.69B | $30.59B | $29.99B | $29.77B | $29.29B | $28.80B | $28.68B | $29.23B |
| Liabilities | ||||||||||||
| Accounts payable | $1.28B | $1.09B | $344.6M | $1.06B | $893.0M | $731.3M | $296.0M | $880.6M | $770.8M | $696.9M | $317.9M | $756.1M |
| Short-term debt | $34.3M | $32.6M | $30.5M | $62.2M | $87.2M | $130.0M | $130.3M | $461.3M | $780.9M | $141.7M | $146.4M | $148.8M |
| Deferred revenue | — | — | — | — | — | — | — | $18.8M | $128.9M | $89.5M | $80.8M | $156.5M |
| Total current liabilities | $1.93B | $1.63B | $2.47B | $2.11B | $1.72B | $1.24B | $1.51B | $1.66B | $1.79B | $1.02B | $1.05B | $1.10B |
| Long-term debt | $196.8M | $196.5M | $291.0M | $295.9M | $646.4M | $1.15B | $1.15B | $1.15B | $1.10B | $1.74B | $1.74B | $1.96B |
| Lease obligations | $123.5M | $122.7M | $125.2M | $139.6M | $139.1M | $137.3M | $139.2M | $148.2M | $146.2M | $150.7M | $161.5M | $165.3M |
| Other long-term liabilities | $7.05B | $7.05B | $6.97B | $6.77B | $6.79B | $6.56B | $6.49B | $6.48B | $6.40B | $6.40B | $6.47B | $6.23B |
| Total liabilities | $9.18B | $8.88B | $9.73B | $9.17B | $9.15B | $8.95B | $9.15B | $9.31B | $9.29B | $9.16B | $9.26B | $9.29B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $20.12B | $18.76B | $18.70B | $18.79B | $18.79B | $18.77B | $18.68B | $18.66B | $18.52B | $18.40B | $18.33B | $18.28B |
| Retained earnings (deficit) | $8.12B | $6.81B | $5.46B | $4.36B | $3.41B | $2.60B | $2.03B | $1.72B | $1.37B | $1.11B | $963.2M | $1.54B |
| Accumulated other comprehensive income | $325.1M | $536.4M | $411.9M | $326.5M | $176.6M | $99.5M | −$41.1M | −$60.4M | −$93.6M | −$86.5M | $102.3M | $92.0M |
| Total shareholders' equity | $28.57B | $26.28B | $24.74B | $23.48B | $22.54B | $21.64B | $20.83B | $20.50B | $20.00B | $19.64B | $19.42B | $19.93B |
| Key figures | ||||||||||||
| Total debt | $320.0M | $319.2M | $321.5M | $357.8M | $733.7M | $1.28B | $1.28B | $1.62B | $1.99B | $1.99B | $2.00B | $2.11B |
| Net cash (debt) | $3.15B | $2.80B | $2.55B | $2.01B | $835.5M | −$128.4M | −$348.4M | −$638.2M | −$1.06B | −$1.46B | −$1.66B | −$1.74B |
| Working capital | $3.59B | $3.50B | $2.52B | $2.36B | $1.77B | $1.70B | $1.29B | $1.25B | $921.1M | $1.23B | $1.14B | $1.09B |
| Tangible book value | $24.42B | $22.12B | $20.58B | $19.33B | $18.38B | $17.48B | $16.68B | $16.35B | $15.84B | $15.48B | $15.27B | $15.35B |
| Book value per share | $56.81 | $52.37 | $49.22 | $46.64 | $44.70 | $43.05 | $41.52 | $40.84 | $39.96 | $39.38 | $39.07 | $40.16 |
| Shares outstanding | 502.9M | 501.7M | 502.7M | 503.5M | 504.4M | 502.7M | 501.7M | 502.1M | 500.4M | 498.8M | 497.1M | 496.4M |
| Current ratio | 2.86 | 3.15 | 2.02 | 2.12 | 2.03 | 2.37 | 1.86 | 1.75 | 1.51 | 2.21 | 2.09 | 1.99 |
| Quick ratio | 1.90 | 2.03 | 1.25 | 1.20 | 1.00 | 1.07 | 0.74 | 0.69 | 0.62 | 0.69 | 0.51 | 0.50 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.06 | 0.06 | 0.08 | 0.10 | 0.10 | 0.10 | 0.11 |
| Equity / assets | 75.7% | 74.7% | 71.8% | 71.9% | 71.1% | 70.7% | 69.5% | 68.9% | 68.3% | 68.2% | 67.7% | 68.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 19, 2026); data from EODHD.
AEM financial position
At the end of fiscal 2025 (December 31, 2025), Agnico Eagle Mines had total assets of $34.5 billion (up 15.0% from a year earlier), total liabilities of $9.7 billion and shareholders' equity of $24.7 billion. It held $2.9 billion in cash and short-term investments against $321.5 million of debt, a net cash position of $2.6 billion. Its current ratio was 2.02. In the latest quarter (ended June 30, 2026) total assets were $37.7 billion and equity $28.6 billion.
Related: AEM income statement, AEM cash flow statement, AEM key metrics. See the AEM stock overview for the latest quote and news.
AEM balance sheet FAQ
What are Agnico Eagle Mines's total assets?
Agnico Eagle Mines reported total assets of $34.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $30.0 billion a year earlier.
How much debt does Agnico Eagle Mines have?
Agnico Eagle Mines had $321.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Agnico Eagle Mines have?
Agnico Eagle Mines held $2.9 billion in cash and short-term investments at the end of fiscal 2025; with $321.5 million of debt that is net cash of $2.6 billion.
What is Agnico Eagle Mines's book value?
Agnico Eagle Mines's shareholders' equity (book value) was $24.7 billion at the end of fiscal 2025, or $49.15 per share.
What is Agnico Eagle Mines's current ratio?
Agnico Eagle Mines had current assets of $5.0 billion and current liabilities of $2.5 billion, a current ratio of 2.02 (it can cover its short-term obligations).
How much goodwill does Agnico Eagle Mines have?
Agnico Eagle Mines carried $4.2 billion of goodwill and intangible assets, 12.1% of total assets, at the end of fiscal 2025.