PAN AMERICAN SILVER CORP (PAAS.CA) Stock Fundamental Analysis

TSX:PAAS • CA6979001089

81.31 CAD
+0.9 (+1.12%)
Last: Feb 11, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

7

Overall PAAS gets a fundamental rating of 7 out of 10. We evaluated PAAS against 812 industry peers in the Metals & Mining industry. PAAS has an excellent profitability rating, but there are some minor concerns on its financial health. PAAS is growing strongly while it also seems undervalued. This is an interesting combination These ratings would make PAAS suitable for value and growth investing!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • PAAS had positive earnings in the past year.
  • PAAS had a positive operating cash flow in the past year.
  • In multiple years PAAS reported negative net income over the last 5 years.
  • In the past 5 years PAAS always reported a positive cash flow from operatings.
PAAS.CA Yearly Net Income VS EBIT VS OCF VS FCFPAAS.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

1.2 Ratios

  • PAAS's Return On Assets of 6.93% is amongst the best of the industry. PAAS outperforms 90.64% of its industry peers.
  • The Return On Equity of PAAS (9.58%) is better than 90.52% of its industry peers.
  • The Return On Invested Capital of PAAS (7.04%) is better than 91.87% of its industry peers.
Industry RankSector Rank
ROA 6.93%
ROE 9.58%
ROIC 7.04%
ROA(3y)-3.47%
ROA(5y)-0.49%
ROE(3y)-5.12%
ROE(5y)-0.97%
ROIC(3y)N/A
ROIC(5y)N/A
PAAS.CA Yearly ROA, ROE, ROICPAAS.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10 -15

1.3 Margins

  • The Profit Margin of PAAS (19.48%) is better than 93.72% of its industry peers.
  • In the last couple of years the Profit Margin of PAAS has declined.
  • Looking at the Operating Margin, with a value of 25.17%, PAAS belongs to the top of the industry, outperforming 93.47% of the companies in the same industry.
  • In the last couple of years the Operating Margin of PAAS has grown nicely.
  • PAAS's Gross Margin of 31.40% is amongst the best of the industry. PAAS outperforms 91.01% of its industry peers.
  • PAAS's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 25.17%
PM (TTM) 19.48%
GM 31.4%
OM growth 3Y-8.68%
OM growth 5Y3.06%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
PAAS.CA Yearly Profit, Operating, Gross MarginsPAAS.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • PAAS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • PAAS has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, PAAS has more shares outstanding
  • The debt/assets ratio for PAAS is higher compared to a year ago.
PAAS.CA Yearly Shares OutstandingPAAS.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
PAAS.CA Yearly Total Debt VS Total AssetsPAAS.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • PAAS has an Altman-Z score of 6.66. This indicates that PAAS is financially healthy and has little risk of bankruptcy at the moment.
  • PAAS has a Altman-Z score (6.66) which is comparable to the rest of the industry.
  • PAAS has a debt to FCF ratio of 1.15. This is a very positive value and a sign of high solvency as it would only need 1.15 years to pay back of all of its debts.
  • With an excellent Debt to FCF ratio value of 1.15, PAAS belongs to the best of the industry, outperforming 93.60% of the companies in the same industry.
  • PAAS has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
  • PAAS's Debt to Equity ratio of 0.12 is on the low side compared to the rest of the industry. PAAS is outperformed by 63.92% 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 RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.15
Altman-Z 6.66
ROIC/WACC0.68
WACC10.35%
PAAS.CA Yearly LT Debt VS Equity VS FCFPAAS.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

2.3 Liquidity

  • PAAS has a Current Ratio of 2.31. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
  • PAAS has a Current ratio of 2.31. This is comparable to the rest of the industry: PAAS outperforms 54.56% of its industry peers.
  • A Quick Ratio of 1.55 indicates that PAAS should not have too much problems paying its short term obligations.
  • PAAS's Quick ratio of 1.55 is in line compared to the rest of the industry. PAAS outperforms 49.01% of its industry peers.
Industry RankSector Rank
Current Ratio 2.31
Quick Ratio 1.55
PAAS.CA Yearly Current Assets VS Current LiabilitesPAAS.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • PAAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 320.00%, which is quite impressive.
  • Measured over the past 5 years, PAAS shows a small growth in Earnings Per Share. The EPS has been growing by 0.51% on average per year.
  • PAAS shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.75%.
  • PAAS shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.85% yearly.
EPS 1Y (TTM)320%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%50%
Revenue 1Y (TTM)21.75%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%42.1%

3.2 Future

  • PAAS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.19% yearly.
  • The Revenue is expected to grow by 10.31% on average over the next years. This is quite good.
EPS Next Y173.17%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
EPS Next 5Y22.19%
Revenue Next Year24.67%
Revenue Next 2Y22.83%
Revenue Next 3Y15.71%
Revenue Next 5Y10.31%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
PAAS.CA Yearly Revenue VS EstimatesPAAS.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B 4B
PAAS.CA Yearly EPS VS EstimatesPAAS.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2 3

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 35.66, PAAS can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, PAAS is valued cheaper than 90.02% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.18. PAAS is valued slightly more expensive when compared to this.
  • PAAS is valuated rather expensively with a Price/Forward Earnings ratio of 18.13.
  • Based on the Price/Forward Earnings ratio, PAAS is valued cheaper than 90.76% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.01, PAAS is valued a bit cheaper.
Industry RankSector Rank
PE 35.66
Fwd PE 18.13
PAAS.CA Price Earnings VS Forward Price EarningsPAAS.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, PAAS is valued cheaper than 92.61% of the companies in the same industry.
  • 94.46% of the companies in the same industry are more expensive than PAAS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 33.91
EV/EBITDA 18.4
PAAS.CA Per share dataPAAS.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

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 a very decent 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 62.67% in the coming years.
PEG (NY)0.21
PEG (5Y)69.36
EPS Next 2Y104.62%
EPS Next 3Y62.67%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • With a yearly dividend of 0.80%, PAAS is not a good candidate for dividend investing.
  • PAAS's Dividend Yield is rather good when compared to the industry average which is at 0.40. PAAS pays more dividend than 96.55% of the companies in the same industry.
  • With a Dividend Yield of 0.80, PAAS pays less dividend than the S&P500 average, which is at 1.80.
Industry RankSector Rank
Dividend Yield 0.8%

5.2 History

  • On average, the dividend of PAAS grows each year by 19.86%, which is quite nice.
  • PAAS has been paying a dividend for at least 10 years, so it has a reliable track record.
  • The dividend of PAAS decreased recently.
Dividend Growth(5Y)19.86%
Div Incr Years1
Div Non Decr Years1
PAAS.CA Yearly Dividends per sharePAAS.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

  • PAAS pays out 23.99% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of PAAS is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP23.99%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
PAAS.CA Yearly Income VS Free CF VS DividendPAAS.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M
PAAS.CA Dividend Payout.PAAS.CA Dividend Payout, showing the Payout Ratio.PAAS.CA Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

PAN AMERICAN SILVER CORP

TSX:PAAS (2/11/2026, 7:00:00 PM)

81.31

+0.9 (+1.12%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-12
Earnings (Next)02-18
Inst Owners69.88%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap34.31B
Revenue(TTM)3.25B
Net Income(TTM)634.10M
Analysts80
Price Target58.81 (-27.67%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.8%
Yearly Dividend0.55
Dividend Growth(5Y)19.86%
DP23.99%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.84%
Min EPS beat(2)6.95%
Max EPS beat(2)24.72%
EPS beat(4)3
Avg EPS beat(4)39.34%
Min EPS beat(4)-3.07%
Max EPS beat(4)128.76%
EPS beat(8)5
Avg EPS beat(8)22.3%
EPS beat(12)6
Avg EPS beat(12)9.51%
EPS beat(16)7
Avg EPS beat(16)1.18%
Revenue beat(2)1
Avg Revenue beat(2)4.97%
Min Revenue beat(2)-3.7%
Max Revenue beat(2)13.63%
Revenue beat(4)2
Avg Revenue beat(4)5.02%
Min Revenue beat(4)-3.7%
Max Revenue beat(4)13.63%
Revenue beat(8)2
Avg Revenue beat(8)-0.95%
Revenue beat(12)3
Avg Revenue beat(12)-1.57%
Revenue beat(16)3
Avg Revenue beat(16)-3.46%
PT rev (1m)5.97%
PT rev (3m)30.31%
EPS NQ rev (1m)-7.23%
EPS NQ rev (3m)41.15%
EPS NY rev (1m)-2.5%
EPS NY rev (3m)8.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)40.13%
Revenue NY rev (1m)0%
Revenue NY rev (3m)4.73%
Valuation
Industry RankSector Rank
PE 35.66
Fwd PE 18.13
P/S 7.77
P/FCF 33.91
P/OCF 24.07
P/B 3.82
P/tB 3.82
EV/EBITDA 18.4
EPS(TTM)2.28
EY2.8%
EPS(NY)4.49
Fwd EY5.52%
FCF(TTM)2.4
FCFY2.95%
OCF(TTM)3.38
OCFY4.15%
SpS10.46
BVpS21.27
TBVpS21.27
PEG (NY)0.21
PEG (5Y)69.36
Graham Number33.03
Profitability
Industry RankSector Rank
ROA 6.93%
ROE 9.58%
ROCE 9.77%
ROIC 7.04%
ROICexc 7.9%
ROICexgc 7.9%
OM 25.17%
PM (TTM) 19.48%
GM 31.4%
FCFM 22.92%
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
ROICexgc growth 3Y-13.28%
ROICexgc growth 5Y4.03%
ROICexc growth 3Y-13.24%
ROICexc growth 5Y4.07%
OM growth 3Y-8.68%
OM growth 5Y3.06%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
F-Score8
Asset Turnover0.36
Health
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF 1.15
Debt/EBITDA 0.58
Cap/Depr 55.34%
Cap/Sales 9.37%
Interest Coverage 21.79
Cash Conversion 76.7%
Profit Quality 117.66%
Current Ratio 2.31
Quick Ratio 1.55
Altman-Z 6.66
F-Score8
WACC10.35%
ROIC/WACC0.68
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)320%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%50%
EPS Next Y173.17%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
EPS Next 5Y22.19%
Revenue 1Y (TTM)21.75%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%42.1%
Revenue Next Year24.67%
Revenue Next 2Y22.83%
Revenue Next 3Y15.71%
Revenue Next 5Y10.31%
EBIT growth 1Y182.68%
EBIT growth 3Y9.55%
EBIT growth 5Y19.4%
EBIT Next Year177.53%
EBIT Next 3Y64.1%
EBIT Next 5Y21.6%
FCF growth 1Y560.94%
FCF growth 3Y39.19%
FCF growth 5Y39.94%
OCF growth 1Y515.71%
OCF growth 3Y22.69%
OCF growth 5Y20.75%

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 7 / 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 35.66 and the Price/Book (PB) ratio is 3.82.


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 23.99%.