PAN AMERICAN SILVER CORP (PAAS.CA) Fundamental Analysis & Valuation
TSX:PAAS • CA6979001089
Current stock price
79.4 CAD
+1.22 (+1.56%)
Last:
This PAAS.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
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.
- The reported net income has been mixed in the past 5 years: PAAS reported negative net income in multiple years.
- Each year in the past 5 years PAAS had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of PAAS (10.04%) is better than 92.48% of its industry peers.
- The Return On Equity of PAAS (13.98%) is better than 91.60% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 6.86%, PAAS belongs to the top of the industry, outperforming 91.85% of the companies in the same industry.
- PAAS had an Average Return On Invested Capital over the past 3 years of 3.63%. This is significantly below the industry average of 12.74%.
- The 3 year average ROIC (3.63%) for PAAS is below the current ROIC(6.86%), indicating increased profibility in the last year.
| Industry Rank | Sector 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
1.3 Margins
- PAAS has a Profit Margin of 27.02%. This is amongst the best in the industry. PAAS outperforms 94.61% of its industry peers.
- In the last couple of years the Profit Margin of PAAS has grown nicely.
- PAAS's Operating Margin of 32.16% is amongst the best of the industry. PAAS outperforms 93.86% of its industry peers.
- PAAS's Operating Margin has improved in the last couple of years.
- Looking at the Gross Margin, with a value of 38.82%, PAAS belongs to the top of the industry, outperforming 92.23% of the companies in the same industry.
- In the last couple of years the Gross Margin of PAAS has grown nicely.
| Industry Rank | Sector 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%
2. PAAS.CA 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.
- The number of shares outstanding for PAAS has been increased compared to 5 years ago.
- PAAS has a better debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 6.16 indicates that PAAS is not in any danger for bankruptcy at the moment.
- The Altman-Z score of PAAS (6.16) is comparable to the rest of the industry.
- 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.
- With an excellent Debt to FCF ratio value of 0.84, PAAS belongs to the best of the industry, outperforming 93.86% of the companies in the same industry.
- PAAS has a Debt/Equity ratio of 0.11. This is a healthy value indicating a solid balance between debt and equity.
- The Debt to Equity ratio of PAAS (0.11) is worse than 64.29% of its industry peers.
- 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 Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.84 | ||
| Altman-Z | 6.16 |
ROIC/WACC0.58
WACC11.91%
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 (2.69) which 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 has a Quick ratio (1.97) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.69 | ||
| Quick Ratio | 1.97 |
3. PAAS.CA Growth Analysis
3.1 Past
- PAAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 208.86%, which is quite impressive.
- 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
- Based on estimates for the next years, PAAS will show a very negative growth in Earnings Per Share. The EPS will decrease by -18.89% on average per year.
- The Revenue is expected to grow by 7.53% 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 Year36.89%
Revenue Next 2Y14.07%
Revenue Next 3Y7.53%
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.
- 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.
4. PAAS.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 23.49 indicates a rather expensive valuation of PAAS.
- 90.60% 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 26.91, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 15.43, the valuation of PAAS can be described as correct.
- PAAS's Price/Forward Earnings ratio is rather cheap when compared to the industry. PAAS is cheaper than 90.48% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of PAAS to the average of the S&P500 Index (23.69), we can say PAAS is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.49 | ||
| Fwd PE | 15.43 |
4.2 Price Multiples
- PAAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. PAAS is cheaper than 92.73% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, PAAS is valued cheaper than 94.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 23.71 | ||
| EV/EBITDA | 14.21 |
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.
- PAAS has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.45
PEG (5Y)1.45
EPS Next 2Y20.92%
EPS Next 3Y8.44%
5. PAAS.CA Dividend Analysis
5.1 Amount
- With a yearly dividend of 0.80%, PAAS is not a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 0.89, PAAS pays a better dividend. On top of this PAAS pays more dividend than 96.24% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.89, PAAS's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.8% |
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.
Dividend Growth(5Y)15.17%
Div Incr Years0
Div Non Decr Years0
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.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:PAAS (4/8/2026, 7:00:00 PM)
79.4
+1.22 (+1.56%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-18 2026-02-18/amc
Earnings (Next)05-05 2026-05-05/amc
Inst Owners64.99%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap33.49B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target67.74 (-14.69%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.8% |
Yearly Dividend0.62
Dividend Growth(5Y)15.17%
DP17.89%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-02 2026-03-02 (0.18)
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)0%
PT rev (3m)22.06%
EPS NQ rev (1m)-12.24%
EPS NQ rev (3m)10.26%
EPS NY rev (1m)0%
EPS NY rev (3m)7.53%
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.49 | ||
| Fwd PE | 15.43 | ||
| P/S | 6.68 | ||
| P/FCF | 23.71 | ||
| P/OCF | 18.13 | ||
| P/B | 3.45 | ||
| P/tB | 3.45 | ||
| EV/EBITDA | 14.21 |
EPS(TTM)3.38
EY4.26%
EPS(NY)5.15
Fwd EY6.48%
FCF(TTM)3.35
FCFY4.22%
OCF(TTM)4.38
OCFY5.52%
SpS11.89
BVpS22.99
TBVpS22.99
PEG (NY)0.45
PEG (5Y)1.45
Graham Number41.82
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 6.16 |
F-Score8
WACC11.91%
ROIC/WACC0.58
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 Year36.89%
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 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.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%.