PAN AMERICAN SILVER CORP (PAAS.CA) Stock Fundamental Analysis
TSX:PAAS - Toronto Stock Exchange - CA6979001089 - Common Stock - Currency: CAD
Overall PAAS gets a fundamental rating of 6 out of 10. We evaluated PAAS against 807 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 is valued quite cheap, while showing a decent growth score. This is a good combination! These ratings could make PAAS a good candidate for value and quality investing.
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.
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
Looking at the Return On Assets, with a value of 4.32%, PAAS belongs to the top of the industry, outperforming 88.35% of the companies in the same industry.
PAAS has a better Return On Equity (6.46%) than 89.34% of its industry peers.
With an excellent Return On Invested Capital value of 6.04%, PAAS belongs to the best of the industry, outperforming 91.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.32% | ||
| ROE | 6.46% | ||
| ROIC | 6.04% |
ROA(3y)-3.47%
ROA(5y)-0.49%
ROE(3y)-5.12%
ROE(5y)-0.97%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
Looking at the Profit Margin, with a value of 10.40%, PAAS belongs to the top of the industry, outperforming 92.94% of the companies in the same industry.
PAAS's Profit Margin has declined in the last couple of years.
PAAS has a better Operating Margin (18.53%) than 92.07% of its industry peers.
PAAS's Operating Margin has improved in the last couple of years.
PAAS has a Gross Margin of 24.13%. This is amongst the best in the industry. PAAS outperforms 89.72% of its industry peers.
PAAS's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 18.53% | ||
| PM (TTM) | 10.4% | ||
| GM | 24.13% |
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.
PAAS has a worse debt/assets ratio than last year.
2.2 Solvency
PAAS has an Altman-Z score of 3.28. This indicates that PAAS is financially healthy and has little risk of bankruptcy at the moment.
PAAS has a Altman-Z score of 3.28. This is in the better half of the industry: PAAS outperforms 61.59% of its industry peers.
PAAS has a debt to FCF ratio of 1.51. This is a very positive value and a sign of high solvency as it would only need 1.51 years to pay back of all of its debts.
PAAS has a better Debt to FCF ratio (1.51) than 93.80% of its industry peers.
A Debt/Equity ratio of 0.16 indicates that PAAS is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.16, PAAS is not doing good in the industry: 64.81% 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 | 0.16 | ||
| Debt/FCF | 1.51 | ||
| Altman-Z | 3.28 |
ROIC/WACC0.71
WACC8.5%
2.3 Liquidity
PAAS has a Current Ratio of 2.93. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 2.93, PAAS is doing good in the industry, outperforming 62.83% of the companies in the same industry.
A Quick Ratio of 1.94 indicates that PAAS should not have too much problems paying its short term obligations.
PAAS has a Quick ratio of 1.94. This is comparable to the rest of the industry: PAAS outperforms 57.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.93 | ||
| Quick Ratio | 1.94 |
3. Growth
3.1 Past
PAAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 5900.00%, which is quite impressive.
PAAS shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.51% yearly.
Looking at the last year, PAAS shows a quite strong growth in Revenue. The Revenue has grown by 18.34% in the last year.
The Revenue has been growing by 15.85% on average over the past years. This is quite good.
EPS 1Y (TTM)5900%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%4100%
Revenue 1Y (TTM)18.34%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%28.57%
3.2 Future
Based on estimates for the next years, PAAS will show a small growth in Earnings Per Share. The EPS will grow by 2.59% on average per year.
Based on estimates for the next years, PAAS will show a decrease in Revenue. The Revenue will decrease by -3.24% on average per year.
EPS Next Y58.55%
EPS Next 2Y59.4%
EPS Next 3Y23.95%
EPS Next 5Y2.59%
Revenue Next Year5.21%
Revenue Next 2Y4.64%
Revenue Next 3Y2.86%
Revenue Next 5Y-3.24%
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
PAAS is valuated rather expensively with a Price/Earnings ratio of 24.04.
PAAS's Price/Earnings ratio is rather cheap when compared to the industry. PAAS is cheaper than 89.34% 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 26.31, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 14.40, PAAS is valued correctly.
89.72% of the companies in the same industry are more expensive than PAAS, based on the Price/Forward Earnings ratio.
PAAS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.13.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.04 | ||
| Fwd PE | 14.4 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, PAAS is valued cheaply inside the industry as 92.32% of the companies are valued more expensively.
PAAS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. PAAS is cheaper than 93.68% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 19.64 | ||
| EV/EBITDA | 9.22 |
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 23.95% in the coming years.
PEG (NY)0.41
PEG (5Y)46.75
EPS Next 2Y59.4%
EPS Next 3Y23.95%
5. Dividend
5.1 Amount
PAAS has a Yearly Dividend Yield of 1.47%. Purely for dividend investing, there may be better candidates out there.
PAAS's Dividend Yield is rather good when compared to the industry average which is at 2.62. PAAS pays more dividend than 97.27% of the companies in the same industry.
Compared to the average S&P500 Dividend Yield of 2.39, PAAS is paying slightly less dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.47% |
5.2 History
On average, the dividend of PAAS grows each year by 19.89%, 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)19.89%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
PAAS pays out 46.64% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of PAAS is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP46.64%
EPS Next 2Y59.4%
EPS Next 3Y23.95%
TSX:PAAS (6/13/2025, 7:00:00 PM)
39.42
0 (0%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners58.92%
Inst Owner ChangeN/A
Ins Owners0.09%
Ins Owner ChangeN/A
Market Cap14.28B
Analysts80
Price Target36.14 (-8.32%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.47% |
Yearly Dividend0.55
Dividend Growth(5Y)19.89%
DP46.64%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)62.84%
Min EPS beat(2)-3.07%
Max EPS beat(2)128.76%
EPS beat(4)2
Avg EPS beat(4)40.14%
Min EPS beat(4)-28.1%
Max EPS beat(4)128.76%
EPS beat(8)3
Avg EPS beat(8)2.62%
EPS beat(12)5
Avg EPS beat(12)4.03%
EPS beat(16)5
Avg EPS beat(16)-6.04%
Revenue beat(2)1
Avg Revenue beat(2)5.07%
Min Revenue beat(2)-1.83%
Max Revenue beat(2)11.97%
Revenue beat(4)1
Avg Revenue beat(4)-3.5%
Min Revenue beat(4)-18.79%
Max Revenue beat(4)11.97%
Revenue beat(8)1
Avg Revenue beat(8)-4.04%
Revenue beat(12)2
Avg Revenue beat(12)-4.81%
Revenue beat(16)2
Avg Revenue beat(16)-5.4%
PT rev (1m)5.98%
PT rev (3m)17.83%
EPS NQ rev (1m)47.91%
EPS NQ rev (3m)13.57%
EPS NY rev (1m)0%
EPS NY rev (3m)3.72%
Revenue NQ rev (1m)0.5%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.04 | ||
| Fwd PE | 14.4 | ||
| P/S | 3.5 | ||
| P/FCF | 19.64 | ||
| P/OCF | 12.5 | ||
| P/B | 2.17 | ||
| P/tB | 2.17 | ||
| EV/EBITDA | 9.22 |
EPS(TTM)1.64
EY4.16%
EPS(NY)2.74
Fwd EY6.94%
FCF(TTM)2.01
FCFY5.09%
OCF(TTM)3.15
OCFY8%
SpS11.26
BVpS18.13
TBVpS18.13
PEG (NY)0.41
PEG (5Y)46.75
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.32% | ||
| ROE | 6.46% | ||
| ROCE | 8.39% | ||
| ROIC | 6.04% | ||
| ROICexc | 7.02% | ||
| ROICexgc | 7.02% | ||
| OM | 18.53% | ||
| PM (TTM) | 10.4% | ||
| GM | 24.13% | ||
| FCFM | 17.83% |
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 | 0.16 | ||
| Debt/FCF | 1.51 | ||
| Debt/EBITDA | 0.68 | ||
| Cap/Depr | 53.73% | ||
| Cap/Sales | 10.18% | ||
| Interest Coverage | 14.82 | ||
| Cash Conversion | 74.74% | ||
| Profit Quality | 171.42% | ||
| Current Ratio | 2.93 | ||
| Quick Ratio | 1.94 | ||
| Altman-Z | 3.28 |
F-Score9
WACC8.5%
ROIC/WACC0.71
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)5900%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%4100%
EPS Next Y58.55%
EPS Next 2Y59.4%
EPS Next 3Y23.95%
EPS Next 5Y2.59%
Revenue 1Y (TTM)18.34%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%28.57%
Revenue Next Year5.21%
Revenue Next 2Y4.64%
Revenue Next 3Y2.86%
Revenue Next 5Y-3.24%
EBIT growth 1Y428.82%
EBIT growth 3Y9.55%
EBIT growth 5Y19.41%
EBIT Next Year125.64%
EBIT Next 3Y43.41%
EBIT Next 5Y-7.85%
FCF growth 1Y324.75%
FCF growth 3Y39.19%
FCF growth 5Y39.97%
OCF growth 1Y5697.52%
OCF growth 3Y22.69%
OCF growth 5Y20.76%