PAN AMERICAN SILVER CORP (PAAS.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:PAAS • CA6979001089
75.46 CAD
+3.71 (+5.17%)
Last: Feb 6, 2026, 07:00 PM
PAAS gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 812 industry peers in the Metals & Mining industry. PAAS scores excellent on profitability, but there are some minor concerns on its financial health. PAAS has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination! With these ratings, PAAS could be worth investigating further for value and growth investing!.
1. Profitability
1.1 Basic Checks
- In the past year PAAS was profitable.
- PAAS had a positive operating cash flow in the past year.
- 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.
1.2 Ratios
- PAAS has a better Return On Assets (6.93%) than 90.54% of its industry peers.
- The Return On Equity of PAAS (9.58%) is better than 90.42% of its industry peers.
- PAAS's Return On Invested Capital of 7.04% is amongst the best of the industry. PAAS outperforms 91.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.93% | ||
| ROE | 9.58% | ||
| ROIC | 7.04% |
ROA(3y)-3.47%
ROA(5y)-0.49%
ROE(3y)-5.12%
ROE(5y)-0.97%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- Looking at the Profit Margin, with a value of 19.48%, PAAS belongs to the top of the industry, outperforming 93.73% of the companies in the same industry.
- PAAS's Profit Margin has declined in the last couple of years.
- The Operating Margin of PAAS (25.17%) is better than 93.49% of its industry peers.
- PAAS's Operating Margin has improved in the last couple of years.
- With an excellent Gross Margin value of 31.40%, PAAS belongs to the best of the industry, outperforming 91.03% of the companies in the same industry.
- PAAS's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 25.17% | ||
| PM (TTM) | 19.48% | ||
| GM | 31.4% |
OM growth 3Y-8.68%
OM growth 5Y3.06%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), PAAS is destroying 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.
2.2 Solvency
- An Altman-Z score of 6.19 indicates that PAAS is not in any danger for bankruptcy at the moment.
- With a Altman-Z score value of 6.19, PAAS perfoms like the industry average, outperforming 56.63% of the companies in the same industry.
- The Debt to FCF ratio of PAAS is 1.15, which is an excellent value as it means it would take PAAS, only 1.15 years of fcf income to pay off all of its debts.
- PAAS's Debt to FCF ratio of 1.15 is amongst the best of the industry. PAAS outperforms 93.61% of its industry peers.
- PAAS has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
- PAAS has a Debt to Equity ratio of 0.12. This is in the lower half of the industry: PAAS underperforms 63.88% of its industry peers.
- Even though the debt/equity ratio score it not favorable for PAAS, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 1.15 | ||
| Altman-Z | 6.19 |
ROIC/WACC0.68
WACC10.34%
2.3 Liquidity
- PAAS has a Current Ratio of 2.31. This indicates that PAAS is financially healthy and has no problem in meeting its short term obligations.
- PAAS's Current ratio of 2.31 is in line compared to the rest of the industry. PAAS outperforms 54.67% of its industry peers.
- PAAS has a Quick Ratio of 1.55. This is a normal value and indicates that PAAS is financially healthy and should not expect problems in meeting its short term obligations.
- The Quick ratio of PAAS (1.55) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.31 | ||
| Quick Ratio | 1.55 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 320.00% over the past year.
- The Earnings Per Share has been growing slightly by 0.51% on average over the past years.
- The Revenue has grown by 21.75% in the past year. This is a very strong growth!
- PAAS shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.85% yearly.
EPS 1Y (TTM)320%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%50%
Revenue 1Y (TTM)21.75%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%42.1%
3.2 Future
- PAAS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.19% yearly.
- The Revenue is expected to grow by 10.31% on average over the next years. This is quite good.
EPS Next Y173.17%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
EPS Next 5Y22.19%
Revenue Next Year24.67%
Revenue Next 2Y22.83%
Revenue Next 3Y15.71%
Revenue Next 5Y10.31%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 32.81, PAAS can be considered very expensive at the moment.
- Based on the Price/Earnings ratio, PAAS is valued cheaper than 89.93% of the companies in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.93. PAAS is around the same levels.
- A Price/Forward Earnings ratio of 16.69 indicates a correct valuation of PAAS.
- Based on the Price/Forward Earnings ratio, PAAS is valued cheaper than 90.54% of the companies in the same industry.
- PAAS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.77.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.81 | ||
| Fwd PE | 16.69 |
4.2 Price Multiples
- PAAS's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. PAAS is cheaper than 92.63% of the companies in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of PAAS indicates a rather cheap valuation: PAAS is cheaper than 94.35% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.23 | ||
| EV/EBITDA | 16.94 |
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 a very decent profitability rating, which may justify a higher PE ratio.
- PAAS's earnings are expected to grow with 62.67% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.19
PEG (5Y)63.81
EPS Next 2Y104.62%
EPS Next 3Y62.67%
5. Dividend
5.1 Amount
- PAAS has a yearly dividend return of 0.80%, which is pretty low.
- Compared to an average industry Dividend Yield of 0.40, PAAS pays a better dividend. On top of this PAAS pays more dividend than 96.56% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.81, 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 19.86%, which is quite nice.
- PAAS has paid a dividend for at least 10 years, which is a reliable track record.
- PAAS has decreased its dividend recently.
Dividend Growth(5Y)19.86%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
- PAAS pays out 23.99% of its income as dividend. This is a sustainable payout ratio.
- PAAS's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP23.99%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
TSX:PAAS (2/6/2026, 7:00:00 PM)
75.46
+3.71 (+5.17%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-12 2025-11-12/amc
Earnings (Next)02-18 2026-02-18/amc
Inst Owners69.88%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap31.84B
Revenue(TTM)3.25B
Net Income(TTM)634.10M
Analysts80
Price Target58.81 (-22.06%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.8% |
Yearly Dividend0.55
Dividend Growth(5Y)19.86%
DP23.99%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.84%
Min EPS beat(2)6.95%
Max EPS beat(2)24.72%
EPS beat(4)3
Avg EPS beat(4)39.34%
Min EPS beat(4)-3.07%
Max EPS beat(4)128.76%
EPS beat(8)5
Avg EPS beat(8)22.3%
EPS beat(12)6
Avg EPS beat(12)9.51%
EPS beat(16)7
Avg EPS beat(16)1.18%
Revenue beat(2)1
Avg Revenue beat(2)4.97%
Min Revenue beat(2)-3.7%
Max Revenue beat(2)13.63%
Revenue beat(4)2
Avg Revenue beat(4)5.02%
Min Revenue beat(4)-3.7%
Max Revenue beat(4)13.63%
Revenue beat(8)2
Avg Revenue beat(8)-0.95%
Revenue beat(12)3
Avg Revenue beat(12)-1.57%
Revenue beat(16)3
Avg Revenue beat(16)-3.46%
PT rev (1m)5.97%
PT rev (3m)30.31%
EPS NQ rev (1m)-7.23%
EPS NQ rev (3m)41.15%
EPS NY rev (1m)-2.5%
EPS NY rev (3m)8.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)40.13%
Revenue NY rev (1m)0%
Revenue NY rev (3m)4.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.81 | ||
| Fwd PE | 16.69 | ||
| P/S | 7.16 | ||
| P/FCF | 31.23 | ||
| P/OCF | 22.17 | ||
| P/B | 3.52 | ||
| P/tB | 3.52 | ||
| EV/EBITDA | 16.94 |
EPS(TTM)2.3
EY3.05%
EPS(NY)4.52
Fwd EY5.99%
FCF(TTM)2.42
FCFY3.2%
OCF(TTM)3.4
OCFY4.51%
SpS10.54
BVpS21.43
TBVpS21.43
PEG (NY)0.19
PEG (5Y)63.81
Graham Number33.3
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.93% | ||
| ROE | 9.58% | ||
| ROCE | 9.77% | ||
| ROIC | 7.04% | ||
| ROICexc | 7.9% | ||
| ROICexgc | 7.9% | ||
| OM | 25.17% | ||
| PM (TTM) | 19.48% | ||
| GM | 31.4% | ||
| FCFM | 22.92% |
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 5Y4.03%
ROICexc growth 3Y-13.24%
ROICexc growth 5Y4.07%
OM growth 3Y-8.68%
OM growth 5Y3.06%
PM growth 3Y-12.81%
PM growth 5Y-13.56%
GM growth 3Y-4.78%
GM growth 5Y2.77%
F-Score8
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 1.15 | ||
| Debt/EBITDA | 0.58 | ||
| Cap/Depr | 55.34% | ||
| Cap/Sales | 9.37% | ||
| Interest Coverage | 21.79 | ||
| Cash Conversion | 76.7% | ||
| Profit Quality | 117.66% | ||
| Current Ratio | 2.31 | ||
| Quick Ratio | 1.55 | ||
| Altman-Z | 6.19 |
F-Score8
WACC10.34%
ROIC/WACC0.68
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)320%
EPS 3Y0.86%
EPS 5Y0.51%
EPS Q2Q%50%
EPS Next Y173.17%
EPS Next 2Y104.62%
EPS Next 3Y62.67%
EPS Next 5Y22.19%
Revenue 1Y (TTM)21.75%
Revenue growth 3Y19.96%
Revenue growth 5Y15.85%
Sales Q2Q%42.1%
Revenue Next Year24.67%
Revenue Next 2Y22.83%
Revenue Next 3Y15.71%
Revenue Next 5Y10.31%
EBIT growth 1Y182.68%
EBIT growth 3Y9.55%
EBIT growth 5Y19.4%
EBIT Next Year177.53%
EBIT Next 3Y64.1%
EBIT Next 5Y21.6%
FCF growth 1Y560.94%
FCF growth 3Y39.19%
FCF growth 5Y39.94%
OCF growth 1Y515.71%
OCF growth 3Y22.69%
OCF growth 5Y20.75%
PAN AMERICAN SILVER CORP / PAAS.CA 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.
What is the valuation status for PAAS stock?
ChartMill assigns a valuation rating of 8 / 10 to PAN AMERICAN SILVER CORP (PAAS.CA). This can be considered as Undervalued.
How profitable is PAN AMERICAN SILVER CORP (PAAS.CA) stock?
PAN AMERICAN SILVER CORP (PAAS.CA) 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.CA) is 32.81 and the Price/Book (PB) ratio is 3.52.
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 23.99%.