PAN AMERICAN SILVER CORP (PAAS) Fundamental Analysis & Valuation

NYSE:PAAS • CA6979001089

Current stock price

51.79 USD
-4.02 (-7.2%)
At close:
48.13 USD
-3.66 (-7.07%)
Pre-Market:

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

8

1. PAAS Profitability Analysis

1.1 Basic Checks

  • PAAS had positive earnings in the past year.
  • In the past year PAAS had a positive cash flow from operations.
  • 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.
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 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 84.71% of its industry peers.
  • PAAS has a better Return On Equity (13.98%) than 80.25% of its industry peers.
  • PAAS's Return On Invested Capital of 10.30% is fine compared to the rest of the industry. PAAS outperforms 77.07% 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 11.64%.
  • The 3 year average ROIC (5.45%) for PAAS is below the current ROIC(10.30%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 10.04%
ROE 13.98%
ROIC 10.3%
ROA(3y)3.38%
ROA(5y)0.48%
ROE(3y)4.72%
ROE(5y)0.46%
ROIC(3y)5.45%
ROIC(5y)N/A
PAAS Yearly ROA, ROE, ROICPAAS 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 86.62% of its industry peers.
  • PAAS's Profit Margin has improved in the last couple of years.
  • PAAS has a better Operating Margin (32.16%) than 78.98% of its industry peers.
  • PAAS's Operating Margin has improved in the last couple of years.
  • PAAS's Gross Margin of 38.82% is fine compared to the rest of the industry. PAAS outperforms 73.25% of its industry peers.
  • PAAS's Gross Margin has improved in the last couple of years.
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 Yearly Profit, Operating, Gross MarginsPAAS 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 Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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.
  • PAAS has a better debt/assets ratio than last year.
PAAS Yearly Shares OutstandingPAAS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
PAAS Yearly Total Debt VS Total AssetsPAAS 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 5.65 indicates that PAAS is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of PAAS (5.65) is better than 68.79% of its industry peers.
  • 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.
  • The Debt to FCF ratio of PAAS (0.84) is better than 85.35% 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.
  • With a Debt to Equity ratio value of 0.11, PAAS perfoms like the industry average, outperforming 56.69% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.84
Altman-Z 5.65
ROIC/WACC0.94
WACC10.92%
PAAS Yearly LT Debt VS Equity VS FCFPAAS 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.
  • With a Current ratio value of 2.69, PAAS perfoms like the industry average, outperforming 57.32% of the companies in the same industry.
  • 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 Yearly Current Assets VS Current LiabilitesPAAS 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 Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 208.86% over the past year.
  • The Earnings Per Share has been growing by 16.24% on average over the past years. This is quite good.
  • The Revenue has grown by 28.38% in the past year. This is a very strong growth!
  • 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
  • Based on estimates for the next years, PAAS will show a small growth in Revenue. The Revenue will grow by 3.46% on average per year.
EPS Next Y52.16%
EPS Next 2Y20.92%
EPS Next 3Y8.44%
EPS Next 5Y-18.89%
Revenue Next Year36.73%
Revenue Next 2Y11.33%
Revenue Next 3Y3.46%
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 Yearly Revenue VS EstimatesPAAS 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 Yearly EPS VS EstimatesPAAS 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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6

4. PAAS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 21.23, which indicates a rather expensive current valuation of PAAS.
  • 75.16% of the companies in the same industry are more expensive than PAAS, based on the Price/Earnings ratio.
  • PAAS is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 25.79, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 13.95, the valuation of PAAS can be described as correct.
  • PAAS's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. PAAS is cheaper than 69.43% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of PAAS to the average of the S&P500 Index (23.80), we can say PAAS is valued slightly cheaper.
Industry RankSector Rank
PE 21.23
Fwd PE 13.95
PAAS Price Earnings VS Forward Price EarningsPAAS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, PAAS is valued a bit cheaper than 68.79% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, PAAS is valued cheaply inside the industry as 84.08% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 21.44
EV/EBITDA 12.81
PAAS Per share dataPAAS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

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 an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.41
PEG (5Y)1.31
EPS Next 2Y20.92%
EPS Next 3Y8.44%

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

4

5. PAAS Dividend Analysis

5.1 Amount

  • PAAS has a yearly dividend return of 0.70%, which is pretty low.
  • Compared to an average industry Dividend Yield of 1.08, PAAS pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.91, PAAS's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.7%

5.2 History

  • On average, the dividend of PAAS grows each year by 15.17%, 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)15.17%
Div Incr Years1
Div Non Decr Years1
PAAS Yearly Dividends per sharePAAS 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 2Y20.92%
EPS Next 3Y8.44%
PAAS Yearly Income VS Free CF VS DividendPAAS 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 Dividend Payout.PAAS Dividend Payout, showing the Payout Ratio.PAAS Dividend Payout.PayoutRetained Earnings

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PAAS Fundamentals: All Metrics, Ratios and Statistics

PAN AMERICAN SILVER CORP

NYSE:PAAS (3/18/2026, 8:04:00 PM)

Premarket: 48.13 -3.66 (-7.07%)

51.79

-4.02 (-7.2%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners64.99%
Inst Owner Change-6.21%
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap21.85B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target49.41 (-4.6%)
Short Float %1.99%
Short Ratio0.96
Dividend
Industry RankSector Rank
Dividend Yield 0.7%
Yearly Dividend0.45
Dividend Growth(5Y)15.17%
DP17.89%
Div Incr Years1
Div Non Decr Years1
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)14.7%
PT rev (3m)29.33%
EPS NQ rev (1m)40.67%
EPS NQ rev (3m)25.64%
EPS NY rev (1m)12.25%
EPS NY rev (3m)7.53%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)13.27%
Revenue NY rev (3m)13.27%
Valuation
Industry RankSector Rank
PE 21.23
Fwd PE 13.95
P/S 6.04
P/FCF 21.44
P/OCF 16.39
P/B 3.12
P/tB 3.12
EV/EBITDA 12.81
EPS(TTM)2.44
EY4.71%
EPS(NY)3.71
Fwd EY7.17%
FCF(TTM)2.42
FCFY4.66%
OCF(TTM)3.16
OCFY6.1%
SpS8.58
BVpS16.59
TBVpS16.59
PEG (NY)0.41
PEG (5Y)1.31
Graham Number30.18
Profitability
Industry RankSector Rank
ROA 10.04%
ROE 13.98%
ROCE 13.04%
ROIC 10.3%
ROICexc 12.09%
ROICexgc 12.09%
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)5.45%
ROIC(5y)N/A
ROICexc(3y)6.32%
ROICexc(5y)N/A
ROICexgc(3y)6.32%
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 5.65
F-Score8
WACC10.92%
ROIC/WACC0.94
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 Y52.16%
EPS Next 2Y20.92%
EPS Next 3Y8.44%
EPS Next 5Y-18.89%
Revenue 1Y (TTM)28.38%
Revenue growth 3Y34.28%
Revenue growth 5Y22%
Sales Q2Q%44.64%
Revenue Next Year36.73%
Revenue Next 2Y11.33%
Revenue Next 3Y3.46%
Revenue Next 5YN/A
EBIT growth 1Y213.24%
EBIT growth 3YN/A
EBIT growth 5Y33.97%
EBIT Next Year125.45%
EBIT Next 3Y24.93%
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 Fundamental Analysis 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 for PAAS stock?

ChartMill assigns a valuation rating of 6 / 10 to PAN AMERICAN SILVER CORP (PAAS). This can be considered as Fairly Valued.


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

PAN AMERICAN SILVER CORP (PAAS) has a profitability rating of 8 / 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) is 21.23 and the Price/Book (PB) ratio is 3.12.


Can you provide the dividend sustainability for PAAS stock?

The dividend rating of PAN AMERICAN SILVER CORP (PAAS) is 4 / 10 and the dividend payout ratio is 17.89%.