PAN AMERICAN SILVER CORP (PAAS.CA) Fundamental Analysis & Valuation
TSX:PAAS • CA6979001089
81.96 CAD
-2.46 (-2.91%)
Last: Mar 5, 2026, 07:00 PM
This PAAS.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
PAAS gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 816 industry peers in the Metals & Mining industry. While PAAS belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on PAAS. With these ratings, PAAS could be worth investigating further for value investing!.
1. PAAS.CA Profitability Analysis
1.1 Basic Checks
- In the past year PAAS was profitable.
- PAAS had a positive operating cash flow in the past year.
- The reported net income has been mixed in the past 5 years: PAAS reported negative net income in multiple years.
- In the past 5 years PAAS always reported a positive cash flow from operatings.
1.2 Ratios
- PAAS has a better Return On Assets (10.04%) than 92.03% of its industry peers.
- Looking at the Return On Equity, with a value of 13.98%, PAAS belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
- PAAS has a Return On Invested Capital of 6.86%. This is amongst the best in the industry. PAAS outperforms 91.79% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for PAAS is significantly below the industry average of 12.59%.
- The last Return On Invested Capital (6.86%) for PAAS is above the 3 year average (3.63%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.04% | ||
| ROE | 13.98% | ||
| ROIC | 6.86% |
ROA(3y)3.38%
ROA(5y)0.48%
ROE(3y)4.72%
ROE(5y)0.46%
ROIC(3y)3.63%
ROIC(5y)N/A
1.3 Margins
- Looking at the Profit Margin, with a value of 27.02%, PAAS belongs to the top of the industry, outperforming 95.10% of the companies in the same industry.
- In the last couple of years the Profit Margin of PAAS has grown nicely.
- Looking at the Operating Margin, with a value of 32.16%, PAAS belongs to the top of the industry, outperforming 94.49% of the companies in the same industry.
- In the last couple of years the Operating Margin of PAAS has grown nicely.
- The Gross Margin of PAAS (38.82%) is better than 92.40% of its industry peers.
- In the last couple of years the Gross Margin of PAAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 32.16% | ||
| PM (TTM) | 27.02% | ||
| GM | 38.82% |
OM growth 3YN/A
OM growth 5Y9.81%
PM growth 3YN/A
PM growth 5Y15.26%
GM growth 3Y128.94%
GM growth 5Y7.61%
2. PAAS.CA Health Analysis
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PAAS is destroying value.
- PAAS has more shares outstanding than it did 1 year ago.
- Compared to 5 years ago, PAAS has more shares outstanding
- The debt/assets ratio for PAAS has been reduced compared to a year ago.
2.2 Solvency
- An Altman-Z score of 6.42 indicates that PAAS is not in any danger for bankruptcy at the moment.
- PAAS's Altman-Z score of 6.42 is in line compared to the rest of the industry. PAAS outperforms 56.25% of its industry peers.
- PAAS has a debt to FCF ratio of 0.84. This is a very positive value and a sign of high solvency as it would only need 0.84 years to pay back of all of its debts.
- PAAS has a Debt to FCF ratio of 0.84. This is amongst the best in the industry. PAAS outperforms 94.36% of its industry peers.
- PAAS has a Debt/Equity ratio of 0.11. This is a healthy value indicating a solid balance between debt and equity.
- PAAS has a Debt to Equity ratio of 0.11. This is in the lower half of the industry: PAAS underperforms 63.24% of its industry peers.
- Even though the debt/equity ratio score it not favorable for PAAS, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.84 | ||
| Altman-Z | 6.42 |
ROIC/WACC0.69
WACC9.94%
2.3 Liquidity
- A Current Ratio of 2.69 indicates that PAAS has no problem at all paying its short term obligations.
- PAAS has a Current ratio of 2.69. This is comparable to the rest of the industry: PAAS outperforms 59.19% of its industry peers.
- A Quick Ratio of 1.97 indicates that PAAS should not have too much problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 1.97, PAAS is in line with its industry, outperforming 52.94% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.69 | ||
| Quick Ratio | 1.97 |
3. PAAS.CA Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an impressive 208.86% over the past year.
- Measured over the past years, PAAS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.24% on average per year.
- The Revenue has grown by 28.38% in the past year. This is a very strong growth!
- Measured over the past years, PAAS shows a very strong growth in Revenue. The Revenue has been growing by 22.00% on average per year.
EPS 1Y (TTM)208.86%
EPS 3Y200.41%
EPS 5Y16.24%
EPS Q2Q%217.14%
Revenue 1Y (TTM)28.38%
Revenue growth 3Y34.28%
Revenue growth 5Y22%
Sales Q2Q%44.64%
3.2 Future
- PAAS is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -18.89% yearly.
- Based on estimates for the next years, PAAS will show a small growth in Revenue. The Revenue will grow by 5.81% on average per year.
EPS Next Y35.56%
EPS Next 2Y18.06%
EPS Next 3Y17.59%
EPS Next 5Y-18.89%
Revenue Next Year25.19%
Revenue Next 2Y12.02%
Revenue Next 3Y5.81%
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. PAAS.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 24.69 indicates a rather expensive valuation of PAAS.
- PAAS's Price/Earnings ratio is rather cheap when compared to the industry. PAAS is cheaper than 91.42% of the companies in the same industry.
- PAAS is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.69, which is the current average of the S&P500 Index.
- The Price/Forward Earnings ratio is 18.19, which indicates a rather expensive current valuation of PAAS.
- Based on the Price/Forward Earnings ratio, PAAS is valued cheaply inside the industry as 90.69% of the companies are valued more expensively.
- PAAS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.79.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.69 | ||
| Fwd PE | 18.19 |
4.2 Price Multiples
- PAAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. PAAS is cheaper than 93.01% of the companies in the same industry.
- PAAS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. PAAS is cheaper than 95.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.91 | ||
| EV/EBITDA | 14.94 |
4.3 Compensation for Growth
- PAAS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- PAAS has an outstanding profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as PAAS's earnings are expected to grow with 17.59% in the coming years.
PEG (NY)0.69
PEG (5Y)1.52
EPS Next 2Y18.06%
EPS Next 3Y17.59%
5. PAAS.CA Dividend Analysis
5.1 Amount
- PAAS has a yearly dividend return of 0.62%, which is pretty low.
- PAAS's Dividend Yield is rather good when compared to the industry average which is at 0.38. PAAS pays more dividend than 96.57% of the companies in the same industry.
- With a Dividend Yield of 0.62, PAAS pays less dividend than the S&P500 average, which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.62% |
5.2 History
- On average, the dividend of PAAS grows each year by 15.17%, which is quite nice.
- PAAS has paid a dividend for at least 10 years, which is a reliable track record.
- The dividend of PAAS decreased recently.
Dividend Growth(5Y)15.17%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
- 17.89% of the earnings are spent on dividend by PAAS. This is a low number and sustainable payout ratio.
DP17.89%
EPS Next 2Y18.06%
EPS Next 3Y17.59%
PAAS.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:PAAS (3/5/2026, 7:00:00 PM)
81.96
-2.46 (-2.91%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-18 2026-02-18/amc
Earnings (Next)05-05 2026-05-05/amc
Inst Owners69.88%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap34.59B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target67.74 (-17.35%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.62% |
Yearly Dividend0.61
Dividend Growth(5Y)15.17%
DP17.89%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-02 2026-03-02 (0.18)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)17.04%
Min EPS beat(2)6.95%
Max EPS beat(2)27.13%
EPS beat(4)4
Avg EPS beat(4)46.89%
Min EPS beat(4)6.95%
Max EPS beat(4)128.76%
EPS beat(8)6
Avg EPS beat(8)42.64%
EPS beat(12)7
Avg EPS beat(12)25.55%
EPS beat(16)8
Avg EPS beat(16)4.37%
Revenue beat(2)1
Avg Revenue beat(2)4.19%
Min Revenue beat(2)-3.7%
Max Revenue beat(2)12.07%
Revenue beat(4)3
Avg Revenue beat(4)8.49%
Min Revenue beat(4)-3.7%
Max Revenue beat(4)13.63%
Revenue beat(8)3
Avg Revenue beat(8)0.84%
Revenue beat(12)4
Avg Revenue beat(12)-0.05%
Revenue beat(16)4
Avg Revenue beat(16)-2.24%
PT rev (1m)22.06%
PT rev (3m)27.1%
EPS NQ rev (1m)23.44%
EPS NQ rev (3m)10.26%
EPS NY rev (1m)0%
EPS NY rev (3m)21.72%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)3.71%
Revenue NY rev (3m)19.51%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.69 | ||
| Fwd PE | 18.19 | ||
| P/S | 7.01 | ||
| P/FCF | 24.91 | ||
| P/OCF | 19.04 | ||
| P/B | 3.63 | ||
| P/tB | 3.63 | ||
| EV/EBITDA | 14.94 |
EPS(TTM)3.32
EY4.05%
EPS(NY)4.51
Fwd EY5.5%
FCF(TTM)3.29
FCFY4.01%
OCF(TTM)4.3
OCFY5.25%
SpS11.68
BVpS22.59
TBVpS22.59
PEG (NY)0.69
PEG (5Y)1.52
Graham Number41.08
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.04% | ||
| ROE | 13.98% | ||
| ROCE | 13.04% | ||
| ROIC | 6.86% | ||
| ROICexc | 8.05% | ||
| ROICexgc | 8.05% | ||
| OM | 32.16% | ||
| PM (TTM) | 27.02% | ||
| GM | 38.82% | ||
| FCFM | 28.16% |
ROA(3y)3.38%
ROA(5y)0.48%
ROE(3y)4.72%
ROE(5y)0.46%
ROIC(3y)3.63%
ROIC(5y)N/A
ROICexc(3y)4.21%
ROICexc(5y)N/A
ROICexgc(3y)4.21%
ROICexgc(5y)N/A
ROCE(3y)6.89%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5Y8.26%
ROICexc growth 3YN/A
ROICexc growth 5Y8.3%
OM growth 3YN/A
OM growth 5Y9.81%
PM growth 3YN/A
PM growth 5Y15.26%
GM growth 3Y128.94%
GM growth 5Y7.61%
F-Score8
Asset Turnover0.37
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.84 | ||
| Debt/EBITDA | 0.48 | ||
| Cap/Depr | 63.18% | ||
| Cap/Sales | 8.68% | ||
| Interest Coverage | 30.62 | ||
| Cash Conversion | 80.27% | ||
| Profit Quality | 104.19% | ||
| Current Ratio | 2.69 | ||
| Quick Ratio | 1.97 | ||
| Altman-Z | 6.42 |
F-Score8
WACC9.94%
ROIC/WACC0.69
Cap/Depr(3y)66%
Cap/Depr(5y)73.06%
Cap/Sales(3y)12.17%
Cap/Sales(5y)13.96%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)208.86%
EPS 3Y200.41%
EPS 5Y16.24%
EPS Q2Q%217.14%
EPS Next Y35.56%
EPS Next 2Y18.06%
EPS Next 3Y17.59%
EPS Next 5Y-18.89%
Revenue 1Y (TTM)28.38%
Revenue growth 3Y34.28%
Revenue growth 5Y22%
Sales Q2Q%44.64%
Revenue Next Year25.19%
Revenue Next 2Y12.02%
Revenue Next 3Y5.81%
Revenue Next 5YN/A
EBIT growth 1Y213.24%
EBIT growth 3YN/A
EBIT growth 5Y33.97%
EBIT Next Year140.8%
EBIT Next 3Y28.76%
EBIT Next 5Y8.25%
FCF growth 1Y154.24%
FCF growth 3YN/A
FCF growth 5Y29.14%
OCF growth 1Y84.09%
OCF growth 3Y246.98%
OCF growth 5Y23.59%
PAN AMERICAN SILVER CORP / PAAS.CA FAQ
What is the ChartMill fundamental rating of PAN AMERICAN SILVER CORP (PAAS.CA) stock?
ChartMill assigns a fundamental rating of 7 / 10 to PAAS.CA.
What is the valuation status for PAAS stock?
ChartMill assigns a valuation rating of 7 / 10 to PAN AMERICAN SILVER CORP (PAAS.CA). This can be considered as Undervalued.
How profitable is PAN AMERICAN SILVER CORP (PAAS.CA) stock?
PAN AMERICAN SILVER CORP (PAAS.CA) has a profitability rating of 8 / 10.
What is the valuation of PAN AMERICAN SILVER CORP based on its PE and PB ratios?
The Price/Earnings (PE) ratio for PAN AMERICAN SILVER CORP (PAAS.CA) is 24.69 and the Price/Book (PB) ratio is 3.63.
Can you provide the dividend sustainability for PAAS stock?
The dividend rating of PAN AMERICAN SILVER CORP (PAAS.CA) is 5 / 10 and the dividend payout ratio is 17.89%.