AEM vs NEM: Agnico Eagle Mines Limited and Newmont Goldcorp compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Newmont Goldcorp is the larger company, worth $116.2B, about 1.3 times Agnico Eagle Mines Limited.
- Agnico Eagle Mines Limited grew revenue faster over the last year (+43.7% vs +15.1%).
- On earnings, Newmont Goldcorp is the cheaper stock (14.1x vs 21.3x).
- Agnico Eagle Mines Limited's price assumes faster free cash flow growth: about 5% a year, against 2% for Newmont Goldcorp (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AEM | NEM |
|---|---|---|
| Market cap | $87.0B | $116.2B |
| Share price | $189.02 | $117.84 |
| Revenue (last fiscal year) | $11.9B | $22.7B |
| Free cash flow (last fiscal year) | $4.4B | $7.3B |
| Revenue growth, last year | +43.7% | +15.1% |
| Revenue growth per year, last 5 fiscal years | +32.4% | +16.7% |
| Operating margin | — | 51.2% |
| Net margin | 37.5% | 33.4% |
| Return on equity | 104.0% | 24.4% |
| P/E (trailing) | 21.3x | 14.1x |
| Price / free cash flow | 20.4x | 15.9x |
| EV / EBITDA | 9.65x | 7.56x |
| FCF growth the price implies | 4.8% | 2.0% |
| Dividend yield | 0.89% | 0.95% |
| Debt / equity | 0.56x | 0.63x |
| Fundamental grade | A | B |
| Superinvestors holding it | 7 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Agnico Eagle Mines Limited
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.9B | $448M | 50.2% |
| 2022 | $5.7B | $558M | 48.3% |
| 2023 | $6.6B | $947M | — |
| 2024 | $8.3B | $2.1B | — |
| 2025 | $11.9B | $4.4B | — |
Newmont Goldcorp
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.2B | $2.6B | 10.3% |
| 2022 | $11.9B | $1.1B | 1.7% |
| 2023 | $11.8B | $97M | -14.4% |
| 2024 | $18.7B | $3.0B | 24.2% |
| 2025 | $22.7B | $7.3B | 48.4% |
Where the revenue comes from
Agnico Eagle Mines Limited · by segments, 2025
Detour Lake$2.4B20%
Canadian Malartic$2.1B17%
Meadowbank$1.7B14%
Meliadine$1.3B11%
LaRonde mine$1.3B11%
Macassa$1.0B9%
Newmont Goldcorp · by segments, 2024
NGM$2.5B13%
Peñasquito$2.3B12%
Ahafo South$1.9B10%
Cadia$1.9B10%
Boddington$1.7B9%
Lihir$1.5B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AEM in InvestinglyQuestions
Which is bigger, Agnico Eagle Mines Limited or Newmont Goldcorp?
Newmont Goldcorp (NEM), at $116.2B against $87.0B.
Is AEM or NEM cheaper?
By trailing P/E, Newmont Goldcorp (14.1x) is cheaper than Agnico Eagle Mines Limited (21.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, AEM or NEM?
Agnico Eagle Mines Limited: revenue grew +43.7% over the last year, against +15.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.