PAN AMERICAN SILVER CORP (PAAS.CA) Stock Fundamental Analysis
Canada - TSX:PAAS - CA6979001089 - Common Stock
55.52 CAD
+1.62 (+3.01%)
We assign a fundamental rating of 7 out of 10 to PAAS. PAAS was compared to 810 industry peers in the Metals & Mining industry. PAAS has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. PAAS may be a bit undervalued, certainly considering the very reasonable score on growth These ratings could make PAAS a good candidate for value and quality investing.
1. Profitability
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.
PAAS had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
PAAS has a Return On Assets of 7.09%. This is amongst the best in the industry. PAAS outperforms 90.99% of its industry peers.
With an excellent Return On Equity value of 10.53%, PAAS belongs to the best of the industry, outperforming 91.48% of the companies in the same industry.
PAAS has a Return On Invested Capital of 7.56%. This is amongst the best in the industry. PAAS outperforms 92.72% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.09% | ||
| ROE | 10.53% | ||
| ROIC | 7.56% |
ROA(3y)-3.47%
ROA(5y)-0.49%
ROE(3y)-5.12%
ROE(5y)-0.97%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
PAAS's Profit Margin of 16.76% is amongst the best of the industry. PAAS outperforms 93.33% of its industry peers.
In the last couple of years the Profit Margin of PAAS has declined.
PAAS has a Operating Margin of 22.66%. This is amongst the best in the industry. PAAS outperforms 93.09% of its industry peers.
PAAS's Operating Margin has improved in the last couple of years.
PAAS has a Gross Margin of 28.26%. This is amongst the best in the industry. PAAS outperforms 90.49% of its industry peers.
In the last couple of years the Gross Margin of PAAS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.66% | ||
| PM (TTM) | 16.76% | ||
| GM | 28.26% |
OM growth 3Y-8.68%
OM growth 5Y3.07%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PAAS is destroying value.
The number of shares outstanding for PAAS has been reduced compared to 1 year ago.
PAAS has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, PAAS has a worse debt to assets ratio.
2.2 Solvency
PAAS has an Altman-Z score of 4.94. This indicates that PAAS is financially healthy and has little risk of bankruptcy at the moment.
PAAS's Altman-Z score of 4.94 is in line compared to the rest of the industry. PAAS outperforms 56.54% of its industry peers.
PAAS has a debt to FCF ratio of 1.21. This is a very positive value and a sign of high solvency as it would only need 1.21 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 1.21, PAAS belongs to the best of the industry, outperforming 93.95% of the companies in the same industry.
PAAS has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
With a Debt to Equity ratio value of 0.15, PAAS is not doing good in the industry: 65.56% of the companies in the same industry are doing better.
Although PAAS does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.15 | ||
| Debt/FCF | 1.21 | ||
| Altman-Z | 4.94 |
ROIC/WACC0.86
WACC8.81%
2.3 Liquidity
PAAS has a Current Ratio of 3.05. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 3.05, PAAS is in the better half of the industry, outperforming 60.49% of the companies in the same industry.
A Quick Ratio of 2.11 indicates that PAAS has no problem at all paying its short term obligations.
With a Quick ratio value of 2.11, PAAS perfoms like the industry average, outperforming 55.80% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.05 | ||
| Quick Ratio | 2.11 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 1588.89% over the past year.
PAAS shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.51% yearly.
The Revenue has grown by 21.09% in the past year. This is a very strong growth!
The Revenue has been growing by 15.85% on average over the past years. This is quite good.
EPS 1Y (TTM)1588.89%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%290.91%
Revenue 1Y (TTM)21.09%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%18.3%
3.2 Future
The Earnings Per Share is expected to grow by 1.88% on average over the next years.
The Revenue is expected to grow by 7.63% on average over the next years.
EPS Next Y137.38%
EPS Next 2Y70.71%
EPS Next 3Y39.27%
EPS Next 5Y1.88%
Revenue Next Year16.16%
Revenue Next 2Y10.75%
Revenue Next 3Y5.96%
Revenue Next 5Y7.63%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better 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. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 25.94, PAAS can be considered very expensive at the moment.
PAAS's Price/Earnings ratio is rather cheap when compared to the industry. PAAS is cheaper than 90.74% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.49. PAAS is around the same levels.
PAAS is valuated rather expensively with a Price/Forward Earnings ratio of 17.15.
90.37% of the companies in the same industry are more expensive than PAAS, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.99, PAAS is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.94 | ||
| Fwd PE | 17.15 |
4.2 Price Multiples
PAAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. PAAS is cheaper than 93.70% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, PAAS is valued cheaper than 95.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.51 | ||
| EV/EBITDA | 12.9 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of PAAS may justify a higher PE ratio.
A more expensive valuation may be justified as PAAS's earnings are expected to grow with 39.27% in the coming years.
PEG (NY)0.19
PEG (5Y)50.46
EPS Next 2Y70.71%
EPS Next 3Y39.27%
5. Dividend
5.1 Amount
PAAS has a Yearly Dividend Yield of 1.07%.
Compared to an average industry Dividend Yield of 12.86, PAAS pays a better dividend. On top of this PAAS pays more dividend than 96.91% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.43, PAAS's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.07% |
5.2 History
The dividend of PAAS is nicely growing with an annual growth rate of 19.89%!
PAAS has been paying a dividend for at least 10 years, so it has a reliable track record.
PAAS has decreased its dividend recently.
Dividend Growth(5Y)19.89%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
27.77% of the earnings are spent on dividend by PAAS. This is a low number and sustainable payout ratio.
The dividend of PAAS is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP27.77%
EPS Next 2Y70.71%
EPS Next 3Y39.27%
TSX:PAAS (10/14/2025, 7:00:00 PM)
55.52
+1.62 (+3.01%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners55.31%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap23.43B
Analysts80
Price Target41.28 (-25.65%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.07% |
Yearly Dividend0.56
Dividend Growth(5Y)19.89%
DP27.77%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)66.11%
Min EPS beat(2)3.45%
Max EPS beat(2)128.76%
EPS beat(4)3
Avg EPS beat(4)48.03%
Min EPS beat(4)-3.07%
Max EPS beat(4)128.76%
EPS beat(8)4
Avg EPS beat(8)7.71%
EPS beat(12)6
Avg EPS beat(12)14.41%
EPS beat(16)6
Avg EPS beat(16)-3.74%
Revenue beat(2)2
Avg Revenue beat(2)9.94%
Min Revenue beat(2)7.91%
Max Revenue beat(2)11.97%
Revenue beat(4)2
Avg Revenue beat(4)-0.18%
Min Revenue beat(4)-18.79%
Max Revenue beat(4)11.97%
Revenue beat(8)2
Avg Revenue beat(8)-2.92%
Revenue beat(12)3
Avg Revenue beat(12)-2.38%
Revenue beat(16)3
Avg Revenue beat(16)-3.88%
PT rev (1m)10.33%
PT rev (3m)12.64%
EPS NQ rev (1m)0%
EPS NQ rev (3m)21.76%
EPS NY rev (1m)3.68%
EPS NY rev (3m)49.72%
Revenue NQ rev (1m)18.69%
Revenue NQ rev (3m)18.69%
Revenue NY rev (1m)2.39%
Revenue NY rev (3m)10.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.94 | ||
| Fwd PE | 17.15 | ||
| P/S | 5.35 | ||
| P/FCF | 24.51 | ||
| P/OCF | 17.2 | ||
| P/B | 3.36 | ||
| P/tB | 3.36 | ||
| EV/EBITDA | 12.9 |
EPS(TTM)2.14
EY3.85%
EPS(NY)3.24
Fwd EY5.83%
FCF(TTM)2.27
FCFY4.08%
OCF(TTM)3.23
OCFY5.81%
SpS10.39
BVpS16.53
TBVpS16.53
PEG (NY)0.19
PEG (5Y)50.46
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.09% | ||
| ROE | 10.53% | ||
| ROCE | 10.51% | ||
| ROIC | 7.56% | ||
| ROICexc | 9.06% | ||
| ROICexgc | 9.06% | ||
| OM | 22.66% | ||
| PM (TTM) | 16.76% | ||
| GM | 28.26% | ||
| FCFM | 21.81% |
ROA(3y)-3.47%
ROA(5y)-0.49%
ROE(3y)-5.12%
ROE(5y)-0.97%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y-13.28%
ROICexcg growth 5Y4.91%
ROICexc growth 3Y-13.24%
ROICexc growth 5Y4.95%
OM growth 3Y-8.68%
OM growth 5Y3.07%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
F-Score9
Asset Turnover0.42
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.15 | ||
| Debt/FCF | 1.21 | ||
| Debt/EBITDA | 0.61 | ||
| Cap/Depr | 51.52% | ||
| Cap/Sales | 9.27% | ||
| Interest Coverage | 18.93 | ||
| Cash Conversion | 76.45% | ||
| Profit Quality | 130.14% | ||
| Current Ratio | 3.05 | ||
| Quick Ratio | 2.11 | ||
| Altman-Z | 4.94 |
F-Score9
WACC8.81%
ROIC/WACC0.86
Cap/Depr(3y)73.91%
Cap/Depr(5y)73.53%
Cap/Sales(3y)15.4%
Cap/Sales(5y)14.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1588.89%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%290.91%
EPS Next Y137.38%
EPS Next 2Y70.71%
EPS Next 3Y39.27%
EPS Next 5Y1.88%
Revenue 1Y (TTM)21.09%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%18.3%
Revenue Next Year16.16%
Revenue Next 2Y10.75%
Revenue Next 3Y5.96%
Revenue Next 5Y7.63%
EBIT growth 1Y326.96%
EBIT growth 3Y9.55%
EBIT growth 5Y19.41%
EBIT Next Year161.44%
EBIT Next 3Y44.83%
EBIT Next 5Y9.36%
FCF growth 1Y472.75%
FCF growth 3Y39.19%
FCF growth 5Y39.97%
OCF growth 1Y775.55%
OCF growth 3Y22.69%
OCF growth 5Y20.76%