PAN AMERICAN SILVER CORP (PAAS.CA) Fundamental Analysis & Valuation

TSX:PAAS • CA6979001089

Current stock price

75.35 CAD
-1.16 (-1.52%)
Last:

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

8

1. PAAS.CA 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.
  • In multiple years PAAS reported negative net income over the last 5 years.
  • Each year in the past 5 years PAAS had a positive operating cash flow.
PAAS.CA Yearly Net Income VS EBIT VS OCF VS FCFPAAS.CA 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 92.28% of its industry peers.
  • PAAS has a Return On Equity of 13.98%. This is amongst the best in the industry. PAAS outperforms 91.53% of its industry peers.
  • PAAS has a better Return On Invested Capital (6.86%) than 91.41% of its industry peers.
  • PAAS had an Average Return On Invested Capital over the past 3 years of 3.63%. This is significantly below the industry average of 13.35%.
  • The 3 year average ROIC (3.63%) for PAAS is below the current ROIC(6.86%), indicating increased profibility in the last year.
Industry RankSector 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
PAAS.CA Yearly ROA, ROE, ROICPAAS.CA 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

  • With an excellent Profit Margin value of 27.02%, PAAS belongs to the best of the industry, outperforming 94.65% of the companies in the same industry.
  • PAAS's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 32.16%, PAAS belongs to the best of the industry, outperforming 93.77% of the companies in the same industry.
  • PAAS's Operating Margin has improved in the last couple of years.
  • The Gross Margin of PAAS (38.82%) is better than 92.15% of its industry peers.
  • In the last couple of years the Gross Margin of PAAS has grown nicely.
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.CA Yearly Profit, Operating, Gross MarginsPAAS.CA 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.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.
  • Compared to 1 year ago, PAAS has more shares outstanding
  • PAAS has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, PAAS has an improved debt to assets ratio.
PAAS.CA Yearly Shares OutstandingPAAS.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
PAAS.CA Yearly Total Debt VS Total AssetsPAAS.CA 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 5.98. This indicates that PAAS is financially healthy and has little risk of bankruptcy at the moment.
  • PAAS has a Altman-Z score (5.98) which is comparable to the rest of the industry.
  • 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.
  • PAAS's Debt to FCF ratio of 0.84 is amongst the best of the industry. PAAS outperforms 93.65% 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.
  • PAAS has a worse Debt to Equity ratio (0.11) than 64.51% 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 RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.84
Altman-Z 5.98
ROIC/WACC0.57
WACC11.96%
PAAS.CA Yearly LT Debt VS Equity VS FCFPAAS.CA 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

  • A Current Ratio of 2.69 indicates that PAAS has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 2.69, PAAS is in line with its industry, outperforming 55.29% of the companies in the same 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 in line with its industry peers.
Industry RankSector Rank
Current Ratio 2.69
Quick Ratio 1.97
PAAS.CA Yearly Current Assets VS Current LiabilitesPAAS.CA 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.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.
  • PAAS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.24% yearly.
  • Looking at the last year, PAAS shows a very strong growth in Revenue. 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

  • 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.
  • PAAS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.53% yearly.
EPS Next Y76.2%
EPS Next 2Y40.12%
EPS Next 3Y18.63%
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.
PAAS.CA Yearly Revenue VS EstimatesPAAS.CA 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.CA Yearly EPS VS EstimatesPAAS.CA 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 4

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7

4. PAAS.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 22.70, which indicates a rather expensive current valuation of PAAS.
  • Compared to the rest of the industry, the Price/Earnings ratio of PAAS indicates a rather cheap valuation: PAAS is cheaper than 90.54% of the companies listed in the same industry.
  • PAAS's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.91.
  • The Price/Forward Earnings ratio is 12.89, which indicates a correct valuation of PAAS.
  • Based on the Price/Forward Earnings ratio, PAAS is valued cheaper than 91.91% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of PAAS to the average of the S&P500 Index (21.99), we can say PAAS is valued slightly cheaper.
Industry RankSector Rank
PE 22.7
Fwd PE 12.89
PAAS.CA Price Earnings VS Forward Price EarningsPAAS.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, PAAS is valued cheaply inside the industry as 91.91% 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 94.89% of the companies in the same industry.
Industry RankSector Rank
P/FCF 22.94
EV/EBITDA 13.73
PAAS.CA Per share dataPAAS.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

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 excellent profitability rating of PAAS may justify a higher PE ratio.
  • PAAS's earnings are expected to grow with 18.63% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.3
PEG (5Y)1.4
EPS Next 2Y40.12%
EPS Next 3Y18.63%

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5

5. PAAS.CA Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.76%, PAAS is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 0.85, PAAS pays a better dividend. On top of this PAAS pays more dividend than 96.26% of the companies listed in the same industry.
  • With a Dividend Yield of 0.76, PAAS pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.76%

5.2 History

  • The dividend of PAAS is nicely growing with an annual growth rate of 15.17%!
  • PAAS has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)15.17%
Div Incr Years0
Div Non Decr Years0
PAAS.CA Yearly Dividends per sharePAAS.CA 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 2Y40.12%
EPS Next 3Y18.63%
PAAS.CA Yearly Income VS Free CF VS DividendPAAS.CA 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.CA Dividend Payout.PAAS.CA Dividend Payout, showing the Payout Ratio.PAAS.CA Dividend Payout.PayoutRetained Earnings

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PAAS.CA Fundamentals: All Metrics, Ratios and Statistics

PAN AMERICAN SILVER CORP

TSX:PAAS (4/27/2026, 7:00:00 PM)

75.35

-1.16 (-1.52%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners64.97%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap31.79B
Revenue(TTM)3.62B
Net Income(TTM)978.00M
Analysts80
Price Target68.76 (-8.75%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.76%
Yearly Dividend0.61
Dividend Growth(5Y)15.17%
DP17.89%
Div Incr Years0
Div Non Decr Years0
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)1.51%
PT rev (3m)23.89%
EPS NQ rev (1m)0%
EPS NQ rev (3m)23.44%
EPS NY rev (1m)15.8%
EPS NY rev (3m)29.98%
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 RankSector Rank
PE 22.7
Fwd PE 12.89
P/S 6.46
P/FCF 22.94
P/OCF 17.53
P/B 3.34
P/tB 3.34
EV/EBITDA 13.73
EPS(TTM)3.32
EY4.41%
EPS(NY)5.85
Fwd EY7.76%
FCF(TTM)3.28
FCFY4.36%
OCF(TTM)4.3
OCFY5.7%
SpS11.67
BVpS22.56
TBVpS22.56
PEG (NY)0.3
PEG (5Y)1.4
Graham Number41.0484 (-45.52%)
Profitability
Industry RankSector 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 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 5.98
F-Score8
WACC11.96%
ROIC/WACC0.57
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 Y76.2%
EPS Next 2Y40.12%
EPS Next 3Y18.63%
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 Year130.2%
EBIT Next 3Y32.1%
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%.