PAN AMERICAN SILVER CORP (PAAS.CA) Fundamental Analysis & Valuation

TSX:PAAS • CA6979001089

Current stock price

70.19 CAD
-5.16 (-6.85%)
Last:

This PAAS.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

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.
  • 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 2025 0 500M 1B

1.2 Ratios

  • PAAS has a better Return On Assets (10.04%) than 92.28% of its industry peers.
  • With an excellent Return On Equity value of 13.98%, PAAS belongs to the best of the industry, outperforming 91.53% of the companies in the same industry.
  • PAAS's Return On Invested Capital of 6.86% is amongst the best of the industry. PAAS outperforms 91.41% 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 13.35%.
  • The 3 year average ROIC (3.63%) for PAAS is below the current ROIC(6.86%), indicating increased profibility in the last year.
Industry RankSector 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
PAAS.CA Yearly ROA, ROE, ROICPAAS.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 -5 10 -10 -15

1.3 Margins

  • PAAS has a better Profit Margin (27.02%) than 94.65% of its industry peers.
  • PAAS's Profit Margin has improved in the last couple of years.
  • The Operating Margin of PAAS (32.16%) is better than 93.77% of its industry peers.
  • In the last couple of years the Operating Margin of PAAS has grown nicely.
  • With an excellent Gross Margin value of 38.82%, PAAS belongs to the best of the industry, outperforming 92.15% of the companies in the same industry.
  • In the last couple of years the Gross Margin of PAAS has grown nicely.
Industry RankSector 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%
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 2025 0 20 -20

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6

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.
  • Compared to 1 year ago, PAAS has more shares outstanding
  • PAAS has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, PAAS has an improved debt to assets ratio.
PAAS.CA Yearly Shares OutstandingPAAS.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
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 2025 2B 4B 6B 8B

2.2 Solvency

  • An Altman-Z score of 5.71 indicates that PAAS is not in any danger for bankruptcy at the moment.
  • With a Altman-Z score value of 5.71, PAAS perfoms like the industry average, outperforming 54.79% of the companies in the same industry.
  • The Debt to FCF ratio of PAAS is 0.84, which is an excellent value as it means it would take PAAS, only 0.84 years of fcf income to pay off all of its debts.
  • PAAS has a Debt to FCF ratio of 0.84. This is amongst the best in the industry. PAAS outperforms 93.65% 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.
  • Looking at the Debt to Equity ratio, with a value of 0.11, PAAS is doing worse than 64.51% of the companies in the same industry.
  • Although PAAS's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. 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 RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.84
Altman-Z 5.71
ROIC/WACC0.57
WACC11.95%
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 2025 0 2B 4B 6B

2.3 Liquidity

  • PAAS has a Current Ratio of 2.69. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
  • PAAS has a Current ratio of 2.69. This is comparable to the rest of the industry: PAAS outperforms 55.29% of its industry peers.
  • A Quick Ratio of 1.97 indicates that PAAS should not have too much problems paying its short term obligations.
  • PAAS has a Quick ratio (1.97) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 2.69
Quick Ratio 1.97
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 2025 500M 1B 1.5B 2B

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

6

3. PAAS.CA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 208.86% over the past year.
  • PAAS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.24% yearly.
  • Looking at the last year, PAAS shows a very strong growth in Revenue. The Revenue has grown by 28.38%.
  • PAAS shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 22.00% yearly.
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

  • The Earnings Per Share is expected to decrease by -18.89% on average over the next years. This is quite bad
  • The Revenue is expected to grow by 7.53% on average over the next years.
EPS Next Y76.2%
EPS Next 2Y40.12%
EPS Next 3Y18.63%
EPS Next 5Y-18.89%
Revenue Next Year36.89%
Revenue Next 2Y14.07%
Revenue Next 3Y7.53%
Revenue Next 5YN/A

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 decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last 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 4

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8

4. PAAS.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • PAAS is valuated rather expensively with a Price/Earnings ratio of 21.01.
  • Compared to the rest of the industry, the Price/Earnings ratio of PAAS indicates a rather cheap valuation: PAAS is cheaper than 90.54% of the companies listed in the same industry.
  • PAAS is valuated rather cheaply when we compare the Price/Earnings ratio to 26.54, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 11.94, which indicates a very decent valuation of PAAS.
  • PAAS's Price/Forward Earnings ratio is rather cheap when compared to the industry. PAAS is cheaper than 92.03% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 21.68. PAAS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 21.01
Fwd PE 11.94
PAAS.CA Price Earnings VS Forward Price EarningsPAAS.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 92.03% of the companies in the same industry are more expensive than PAAS, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, PAAS is valued cheaply inside the industry as 94.77% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 21.25
EV/EBITDA 12.96
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.
  • The excellent 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 18.63% in the coming years.
PEG (NY)0.28
PEG (5Y)1.29
EPS Next 2Y40.12%
EPS Next 3Y18.63%

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5

5. PAAS.CA Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.76%, 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 0.85. PAAS pays more dividend than 96.26% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, PAAS's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.76%

5.2 History

  • The dividend of PAAS is nicely growing with an annual growth rate of 15.17%!
  • PAAS has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)15.17%
Div Incr Years0
Div Non Decr Years0
PAAS.CA Yearly Dividends per sharePAAS.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3 0.4 0.5

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 2Y40.12%
EPS Next 3Y18.63%
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 2025 0 200M -200M 400M 600M 800M 1B
PAAS.CA Dividend Payout.PAAS.CA Dividend Payout, showing the Payout Ratio.PAAS.CA Dividend Payout.PayoutRetained Earnings

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PAAS.CA Fundamentals: All Metrics, Ratios and Statistics

PAN AMERICAN SILVER CORP

TSX:PAAS (4/29/2026, 7:00:00 PM)

70.19

-5.16 (-6.85%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Industry Strength85.04
Industry Growth23.13
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners64.97%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap29.61B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target68.76 (-2.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.76%
Yearly Dividend0.61
Dividend Growth(5Y)15.17%
DP17.89%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-02
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)1.51%
PT rev (3m)23.89%
EPS NQ rev (1m)0%
EPS NQ rev (3m)23.44%
EPS NY rev (1m)15.8%
EPS NY rev (3m)29.98%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)13.4%
Valuation
Industry RankSector Rank
PE 21.01
Fwd PE 11.94
P/S 5.98
P/FCF 21.25
P/OCF 16.25
P/B 3.09
P/tB 3.09
EV/EBITDA 12.96
EPS(TTM)3.34
EY4.76%
EPS(NY)5.88
Fwd EY8.38%
FCF(TTM)3.3
FCFY4.71%
OCF(TTM)4.32
OCFY6.16%
SpS11.73
BVpS22.68
TBVpS22.68
PEG (NY)0.28
PEG (5Y)1.29
Graham Number41.2835 (-41.18%)
Profitability
Industry RankSector 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 RankSector 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 5.71
F-Score8
WACC11.95%
ROIC/WACC0.57
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 Y76.2%
EPS Next 2Y40.12%
EPS Next 3Y18.63%
EPS Next 5Y-18.89%
Revenue 1Y (TTM)28.38%
Revenue growth 3Y34.28%
Revenue growth 5Y22%
Sales Q2Q%44.64%
Revenue Next Year36.89%
Revenue Next 2Y14.07%
Revenue Next 3Y7.53%
Revenue Next 5YN/A
EBIT growth 1Y213.24%
EBIT growth 3YN/A
EBIT growth 5Y33.97%
EBIT Next Year130.2%
EBIT Next 3Y32.1%
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 Fundamental Analysis 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.


Can you provide the valuation status for PAN AMERICAN SILVER CORP?

ChartMill assigns a valuation rating of 7 / 10 to PAN AMERICAN SILVER CORP (PAAS.CA). This can be considered as Undervalued.


Can you provide the profitability details for PAN AMERICAN SILVER CORP?

PAN AMERICAN SILVER CORP (PAAS.CA) has a profitability rating of 8 / 10.


What is the financial health of PAN AMERICAN SILVER CORP (PAAS.CA) stock?

The financial health rating of PAN AMERICAN SILVER CORP (PAAS.CA) is 6 / 10.


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%.