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PAN AMERICAN SILVER CORP (PAAS) Stock Fundamental Analysis

USA - NYSE:PAAS - CA6979001089 - Common Stock

35.24 USD
+0.51 (+1.47%)
Last: 10/28/2025, 8:14:57 PM
34.8654 USD
-0.37 (-1.06%)
After Hours: 10/28/2025, 8:14:57 PM
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to PAAS. PAAS was compared to 154 industry peers in the Metals & Mining industry. While PAAS has a great health rating, its profitability is only average at the moment. PAAS is valued quite cheap, while showing a decent growth score. This is a good combination! These ratings would make PAAS suitable for value investing!


Dividend Valuation Growth Profitability Health

6

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.
In the past 5 years PAAS always reported a positive cash flow from operatings.
PAAS Yearly Net Income VS EBIT VS OCF VS FCFPAAS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

1.2 Ratios

PAAS has a Return On Assets of 7.09%. This is amongst the best in the industry. PAAS outperforms 83.12% of its industry peers.
Looking at the Return On Equity, with a value of 10.53%, PAAS is in the better half of the industry, outperforming 79.22% of the companies in the same industry.
PAAS has a Return On Invested Capital of 8.30%. This is in the better half of the industry: PAAS outperforms 76.62% of its industry peers.
Industry RankSector Rank
ROA 7.09%
ROE 10.53%
ROIC 8.3%
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 Yearly ROA, ROE, ROICPAAS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10 -15

1.3 Margins

PAAS has a better Profit Margin (16.76%) than 83.77% of its industry peers.
In the last couple of years the Profit Margin of PAAS has declined.
PAAS has a better Operating Margin (22.66%) than 75.32% of its industry peers.
In the last couple of years the Operating Margin of PAAS has grown nicely.
The Gross Margin of PAAS (28.26%) is better than 66.23% of its industry peers.
PAAS's Gross Margin has improved in the last couple of years.
Industry RankSector 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%
PAAS Yearly Profit, Operating, Gross MarginsPAAS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20

7

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so PAAS is still creating some 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.
PAAS Yearly Shares OutstandingPAAS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
PAAS Yearly Total Debt VS Total AssetsPAAS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

An Altman-Z score of 4.44 indicates that PAAS is not in any danger for bankruptcy at the moment.
PAAS has a Altman-Z score of 4.44. This is in the better half of the industry: PAAS outperforms 62.34% 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.
PAAS has a better Debt to FCF ratio (1.21) than 87.01% of its industry peers.
A Debt/Equity ratio of 0.15 indicates that PAAS is not too dependend on debt financing.
PAAS has a Debt to Equity ratio (0.15) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF 1.21
Altman-Z 4.44
ROIC/WACC1.01
WACC8.19%
PAAS Yearly LT Debt VS Equity VS FCFPAAS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

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 61.69% of the companies in the same industry.
PAAS has a Quick Ratio of 2.11. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
PAAS has a better Quick ratio (2.11) than 60.39% of its industry peers.
Industry RankSector Rank
Current Ratio 3.05
Quick Ratio 2.11
PAAS Yearly Current Assets VS Current LiabilitesPAAS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 1588.89% over the past year.
The Earnings Per Share has been growing slightly by 0.51% on average over the past years.
Looking at the last year, PAAS shows a very strong growth in Revenue. The Revenue has grown by 21.09%.
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

PAAS is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 1.88% yearly.
PAAS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.63% yearly.
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
PAAS Yearly Revenue VS EstimatesPAAS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B
PAAS Yearly EPS VS EstimatesPAAS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2

7

4. Valuation

4.1 Price/Earnings Ratio

PAAS is valuated rather expensively with a Price/Earnings ratio of 23.18.
Compared to the rest of the industry, the Price/Earnings ratio of PAAS indicates a somewhat cheap valuation: PAAS is cheaper than 75.32% of the companies listed in the same industry.
PAAS is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.83, which is the current average of the S&P500 Index.
PAAS is valuated correctly with a Price/Forward Earnings ratio of 15.31.
64.94% of the companies in the same industry are more expensive than PAAS, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of PAAS to the average of the S&P500 Index (22.88), we can say PAAS is valued slightly cheaper.
Industry RankSector Rank
PE 23.18
Fwd PE 15.31
PAAS Price Earnings VS Forward Price EarningsPAAS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

70.78% 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 cheaper than 85.06% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.88
EV/EBITDA 11.32
PAAS Per share dataPAAS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

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)0.17
PEG (5Y)45.09
EPS Next 2Y70.71%
EPS Next 3Y39.27%

5

5. Dividend

5.1 Amount

PAAS has a Yearly Dividend Yield of 1.14%. Purely for dividend investing, there may be better candidates out there.
PAAS's Dividend Yield is a higher than the industry average which is at 2.52.
With a Dividend Yield of 1.14, PAAS pays less dividend than the S&P500 average, which is at 2.30.
Industry RankSector Rank
Dividend Yield 1.14%

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
PAAS Yearly Dividends per sharePAAS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

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%
PAAS Yearly Income VS Free CF VS DividendPAAS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M
PAAS Dividend Payout.PAAS Dividend Payout, showing the Payout Ratio.PAAS Dividend Payout.PayoutRetained Earnings

PAN AMERICAN SILVER CORP

NYSE:PAAS (10/28/2025, 8:14:57 PM)

After market: 34.8654 -0.37 (-1.06%)

35.24

+0.51 (+1.47%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)08-06 2025-08-06/amc
Earnings (Next)11-12 2025-11-12/amc
Inst Owners55.31%
Inst Owner Change0.35%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap14.87B
Revenue(TTM)3.12B
Net Income(TTM)522.20M
Analysts80
Price Target29.63 (-15.92%)
Short Float %3.73%
Short Ratio2.37
Dividend
Industry RankSector Rank
Dividend Yield 1.14%
Yearly Dividend0.4
Dividend Growth(5Y)19.89%
DP27.77%
Div Incr Years1
Div Non Decr Years1
Ex-Date08-18 2025-08-18 (0.12)
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)-0.73%
PT rev (3m)10.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.85%
EPS NY rev (1m)0%
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 RankSector Rank
PE 23.18
Fwd PE 15.31
P/S 4.77
P/FCF 21.88
P/OCF 15.35
P/B 3
P/tB 3
EV/EBITDA 11.32
EPS(TTM)1.52
EY4.31%
EPS(NY)2.3
Fwd EY6.53%
FCF(TTM)1.61
FCFY4.57%
OCF(TTM)2.3
OCFY6.51%
SpS7.38
BVpS11.75
TBVpS11.75
PEG (NY)0.17
PEG (5Y)45.09
Graham Number20.05
Profitability
Industry RankSector Rank
ROA 7.09%
ROE 10.53%
ROCE 10.51%
ROIC 8.3%
ROICexc 9.94%
ROICexgc 9.94%
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
ROICexgc growth 3Y-13.28%
ROICexgc 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 RankSector 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 4.44
F-Score9
WACC8.19%
ROIC/WACC1.01
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%

PAN AMERICAN SILVER CORP / PAAS FAQ

What is the ChartMill fundamental rating of PAN AMERICAN SILVER CORP (PAAS) stock?

ChartMill assigns a fundamental rating of 6 / 10 to PAAS.


What is the valuation status of PAN AMERICAN SILVER CORP (PAAS) stock?

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


How profitable is PAN AMERICAN SILVER CORP (PAAS) stock?

PAN AMERICAN SILVER CORP (PAAS) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for PAAS stock?

The Price/Earnings (PE) ratio for PAN AMERICAN SILVER CORP (PAAS) is 23.18 and the Price/Book (PB) ratio is 3.


How sustainable is the dividend of PAN AMERICAN SILVER CORP (PAAS) stock?

The dividend rating of PAN AMERICAN SILVER CORP (PAAS) is 5 / 10 and the dividend payout ratio is 27.77%.