Pan American Silver

US · PAAS #962 by market cap Listed 1970

44.35 -1.57 -3.42%

Live - 5344 symbols - heartbeat 235s ago · 2026-10-08 08:32

Pre-market 44.10 -0.56%

After-hours 44.30 -0.11%

Overnight 44.26 -0.20%

Market cap: 18.39B
P/E (TTM): 13.12
P/B: 2.50
EPS: 2.56
Div yield: 1.40%
52W pos: 32%

Reader sentiment Are you bullish or bearish on PAAS?

Anonymous reader poll. Unscientific, not investment advice.

✦ Quant Financial Health how this is computed

Good

Altman Z-Score is 4.88, above the 3.0 "safe zone" threshold.
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +28.38% YoY

Margins

Gross margin: 38.82%
Operating margin: 31.45%
Net margin: 27.02%

Key ratios & quality

Enterprise value: 17.84B
Altman Z-Score: 4.88

Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	784.50M	1.35B	1.34B	1.63B	1.49B	2.32B	2.82B	3.62B
Gross profit	100.90M	229.29M	360.18M	367.94M	48.40M	296.80M	549.00M	1.41B
Selling & admin expenses	22.65M	31.75M	36.38M	34.85M	29.00M	61.40M	70.00M	116.00M
Research & development	--	--	--	--	--	--	--	--
Operating profit	56.93M	147.35M	185.20M	281.68M	-66.30M	82.70M	350.00M	1.14B
Pretax profit	33.19M	182.51M	252.01M	244.99M	-301.00M	-58.80M	432.00M	1.24B
Tax	21.15M	71.27M	75.56M	146.43M	39.10M	46.10M	319.00M	258.00M
Net profit	12.04M	111.24M	176.46M	98.56M	-340.10M	-104.90M	113.00M	980.00M
Basic EPS	0	1	1	0	-2	0	0	3
Diluted EPS	0.07	0.55	0.85	0.46	-1.62	-0.32	0.31	2.56

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	773.00M	812.00M	854.60M	1.18B	1.15B	1.12B
Gross profit	251.00M	273.00M	313.00M	567.90M	608.00M	457.00M
Selling & admin expenses	25.00M	21.00M	31.40M	38.50M	39.00M	18.00M
Research & development	--	--	--	--	--	--
Operating profit	214.00M	234.00M	250.30M	453.30M	560.00M	427.00M
Pretax profit	214.00M	235.00M	249.10M	540.60M	641.00M	484.00M
Tax	45.00M	45.00M	79.90M	88.70M	185.00M	179.00M
Net profit	169.00M	190.00M	169.20M	451.90M	456.00M	305.00M
Basic EPS	0	1	0	1	1	1
Diluted EPS	0.47	0.52	0.44	1.07	1.08	0.72

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	548.37M	788.92M	856.92M	1.00B	804.40M	1.39B	1.72B	2.20B
Cash & ST investments	212.51M	238.34M	279.06M	335.27M	142.30M	440.90M	887.00M	1.32B
Inventory	214.47M	346.51M	406.19M	500.46M	471.60M	711.60M	606.00M	588.00M
Total assets	1.94B	3.46B	3.43B	3.52B	3.25B	7.21B	7.20B	9.74B
Total current liabilities	150.53M	271.67M	361.76M	387.68M	380.80M	624.20M	687.00M	817.00M
Short-term debt	5.36M	14.20M	12.83M	14.06M	27.30M	52.40M	48.00M	58.00M
Long-term debt	--	275.00M	--	11.90M	180.00M	697.00M	702.00M	709.00M
Total liabilities	424,127,000.00	993,836,000.00	828,036,000.00	882,576,000.00	1,046,900,000.00	2,440,600,000.00	2,486,000,000.00	2,741,000,000.00
Total equity	1.51B	2.47B	2.61B	2.64B	2.20B	4.77B	4.72B	7.00B
Retained earnings	-836.07M	-754.69M	-623.03M	-598.04M	-1.03B	-1.27B	-1.30B	-513.00M

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	1.76B	1.95B	1.77B	2.20B	2.55B	2.66B
Cash & ST investments	923.00M	1.11B	910.80M	1.32B	1.61B	1.71B
Inventory	594.60M	603.40M	587.20M	588.00M	650.00M	644.00M
Total assets	7.21B	7.36B	9.15B	9.74B	10.13B	10.16B
Total current liabilities	600.90M	637.90M	766.40M	817.00M	896.00M	906.00M
Short-term debt	47.20M	52.00M	59.60M	58.00M	55.00M	53.00M
Long-term debt	703.40M	704.80M	707.00M	709.00M	712.00M	714.00M
Total liabilities	2,375,300,000.00	2,386,700,000.00	2,524,400,000.00	2,741,000,000.00	2,777,000,000.00	2,797,000,000.00
Total equity	4.83B	4.97B	6.62B	7.00B	7.36B	7.36B
Retained earnings	-1.17B	-1.02B	-898.70M	-513.00M	-149.00M	-68.00M

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	154.98M	282.03M	462.32M	392.11M	31.80M	450.20M	724.00M	1.33B
Depreciation & amortization	147.29M	253.45M	272.44M	302.96M	316.00M	484.20M	571.00M	497.00M
Free cash flow	3.13M	74.68M	283.76M	148.63M	-242.90M	71.20M	401.00M	1.02B
Dividends paid	-21.28M	-29.33M	-46.22M	-71.50M	-94.70M	-130.40M	-145.00M	-175.00M
Stock buybacks / issuance	1.08M	2.78M	4.74M	619.00K	900.00K	0	-23.00M	-43.00M
Ending cash balance	138.51M	120.56M	167.11M	283.55M	107.00M	399.60M	863.00M	1.22B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	177.00M	294.00M	308.70M	556.10M	505.00M	320.00M
Depreciation & amortization	119.00M	123.00M	120.50M	134.70M	113.00M	120.00M
Free cash flow	109.00M	234.00M	217.60M	461.60M	400.00M	221.00M
Dividends paid	-36.00M	-36.00M	-43.40M	-59.20M	-76.00M	-76.00M
Stock buybacks / issuance	-19.00M	-10.00M	800.00K	-14.40M	-25.00M	-223.00M
Ending cash balance	900.00M	1.08B	870.20M	1.22B	1.50B	1.57B

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	0.68	5.58	7.02	3.72	-14.16	-2.98	2.36	16.72
ROA %	0.52	4.10	5.16	2.80	-10.10	-1.98	1.55	11.54
ROIC %	0.64	5.64	6.81	3.77	-13.28	-1.65	2.65	15.30
5-year avg ROE %	-5.71	1.23	5.80	5.06	0.57	-0.16	-0.81	1.13
EBIT margin %	7.26	14.76	19.51	15.23	-19.78	-0.32	17.00	35.73
FCF / sales %	0.40	5.53	21.19	9.10	--	3.07	14.22	28.16
Current ratio	3.64	2.90	2.37	2.58	2.11	2.23	2.50	2.69
Quick ratio	2.14	1.56	1.19	1.25	0.84	1.03	1.57	1.93
Debt / assets	0.34	9.13	0.98	1.30	6.98	11.11	11.16	8.75
LT debt / equity	0.09	12.26	0.80	1.21	9.09	15.74	16.07	11.35
Interest coverage	--	11.81	28.35	67.94	-55.66	-0.14	10.07	23.51
Revenue CAGR (3Y) %	5.15	20.36	17.90	27.68	3.43	20.05	19.97	34.28
Net income CAGR (3Y) %	--	3.43	13.71	111.53	--	--	4.76	--
FCF CAGR (3Y) %	--	83.21	65.93	262.12	--	-36.93	39.21	--

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	6.56	10.91	11.27	16.72	20.80	22.42
ROA %	4.36	7.25	7.78	11.54	14.60	15.77
ROIC %	6.24	9.88	10.35	15.30	18.97	20.38
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	23.06	27.36	29.91	35.73	43.10	45.78
FCF / sales %	17.83	21.81	22.92	28.16	32.75	30.08
Current ratio	2.93	3.05	2.31	2.69	2.84	2.94
Quick ratio	1.87	2.03	1.50	1.93	2.06	2.18
Debt / assets	11.16	11.15	9.37	8.75	8.34	8.28
LT debt / equity	15.72	15.50	12.05	11.35	10.74	10.71
Interest coverage	14.46	17.83	19.43	23.51	29.22	32.90
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Lead segment, long tail

Gold segment is the largest reported line at 63.43% of revenue, across 4 reported segments.
Silver segment follows at 49.38%, so the top line still matters most but isn’t the whole story.

Revenue breakdown most recent period

Business

Gold segment63.43%

Silver segment49.38%

Proportionate share of non-controlling interests0.27%

Quote time 2026-10-08 08:32:39 · For reference only, not investment advice and not tailored to your situation.