PAN AMERICAN SILVER CORP (PAAS) Fundamental Analysis & Valuation

NYSE:PAAS • CA6979001089

Current stock price

46.87 USD
+0.21 (+0.45%)
Last:

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

7

1. PAAS Profitability Analysis

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.
  • 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 84.28% of its industry peers.
  • With a decent Return On Equity value of 13.98%, PAAS is doing good in the industry, outperforming 79.87% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 10.30%, PAAS is doing good in the industry, outperforming 76.73% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for PAAS is significantly below the industry average of 61.06%.
  • 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 Profit Margin of 27.02%. This is amongst the best in the industry. PAAS outperforms 86.79% 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 78.62% of its industry peers.
  • In the last couple of years the Operating Margin of PAAS has grown nicely.
  • Looking at the Gross Margin, with a value of 38.82%, PAAS is in the better half of the industry, outperforming 72.33% of the companies in the same industry.
  • 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.
  • PAAS has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, PAAS has more shares outstanding
  • 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

  • PAAS has an Altman-Z score of 5.18. This indicates that PAAS is financially healthy and has little risk of bankruptcy at the moment.
  • PAAS's Altman-Z score of 5.18 is fine compared to the rest of the industry. PAAS outperforms 68.55% of its industry peers.
  • PAAS has a debt to FCF ratio of 0.84. This is a very positive value and a sign of high solvency as it would only need 0.84 years to pay back of all of its debts.
  • PAAS has a Debt to FCF ratio of 0.84. This is amongst the best in the industry. PAAS outperforms 84.91% of its industry peers.
  • A Debt/Equity ratio of 0.11 indicates that PAAS is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.11, PAAS perfoms like the industry average, outperforming 55.35% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.84
Altman-Z 5.18
ROIC/WACC0.92
WACC11.24%
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.
  • The Current ratio of PAAS (2.69) is comparable to the rest of the industry.
  • PAAS has a Quick Ratio of 1.97. This is a normal value and indicates that PAAS is financially healthy and should not expect problems in meeting its short term obligations.
  • PAAS's Quick ratio of 1.97 is in line compared to the rest of the industry. PAAS outperforms 56.60% of 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.
  • Measured over the past years, PAAS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.24% on average per year.
  • PAAS shows a strong growth in Revenue. In the last year, the Revenue has grown by 28.38%.
  • Measured over the past years, PAAS shows a very strong growth in Revenue. The Revenue has been growing by 22.00% on average per year.
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 3.46% on average over the next years.
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

  • The EPS growth rate is decreasing: in the next years the growth will be less 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.
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

  • PAAS is valuated rather expensively with a Price/Earnings ratio of 19.21.
  • Based on the Price/Earnings ratio, PAAS is valued a bit cheaper than 77.36% of the companies in the same industry.
  • PAAS is valuated rather cheaply when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 12.62, the valuation of PAAS can be described as correct.
  • 71.07% 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 22.42.
Industry RankSector Rank
PE 19.21
Fwd PE 12.62
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

  • 69.81% of the companies in the same industry are more expensive than PAAS, based on the Enterprise Value to EBITDA ratio.
  • PAAS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. PAAS is cheaper than 84.91% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.4
EV/EBITDA 11.51
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 a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.37
PEG (5Y)1.18
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 0.87%, which is pretty low.
  • Compared to an average industry Dividend Yield of 1.14, PAAS pays a bit more dividend than its industry peers.
  • With a Dividend Yield of 0.87, PAAS pays less dividend than the S&P500 average, which is at 1.89.
Industry RankSector Rank
Dividend Yield 0.87%

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.
  • 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

  • PAAS pays out 17.89% of its income as dividend. This is a 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 (3/23/2026, 2:56:05 PM)

46.87

+0.21 (+0.45%)

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 Cap19.77B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target49.41 (5.42%)
Short Float %1.99%
Short Ratio0.96
Dividend
Industry RankSector Rank
Dividend Yield 0.87%
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)23.44%
EPS NQ rev (3m)10.26%
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)9.22%
Revenue NY rev (3m)13.27%
Valuation
Industry RankSector Rank
PE 19.21
Fwd PE 12.62
P/S 5.46
P/FCF 19.4
P/OCF 14.83
P/B 2.83
P/tB 2.83
EV/EBITDA 11.51
EPS(TTM)2.44
EY5.21%
EPS(NY)3.71
Fwd EY7.92%
FCF(TTM)2.42
FCFY5.15%
OCF(TTM)3.16
OCFY6.74%
SpS8.58
BVpS16.59
TBVpS16.59
PEG (NY)0.37
PEG (5Y)1.18
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 5.18
F-Score8
WACC11.24%
ROIC/WACC0.92
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 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) is 19.21 and the Price/Book (PB) ratio is 2.83.


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%.