To the full analysis
Pan American Silver stock: growth
PAASPan American Silver reported $3.68B in revenue for fiscal 2025, up 30.6% on the prior year, up 22.4% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
15.1%
per year from 2006 to 2025, per share 5.5%
Earnings (Annual rate)
16.1%
per year from 2006 to 2025, per share 6.5%
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 22.4% | 18.5% | 15.1% |
| Revenue per share | 8.7% | 8.1% | 5.5% |
| Earnings | 41.1% | no data | 16.1% |
| Earnings per share | 25.2% | no data | 6.5% |
| Free cash flow | 30.7% | no data | no data |
| Free cash flow per share | 16.0% | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $255.45M | $58.21M | −$31.1M |
| 2007 | $301.06M | $88.86M | −$49.81M |
| 2008 | $338.6M | $24.6M | −$150.82M |
| 2009 | $454.81M | $62M | $63.13M |
| 2010 | $646.55M | $112.57M | $164.25M |
| 2011 | $855.28M | $352.49M | $240.52M |
| 2012 | $928.59M | $87.36M | $33.39M |
| 2013 | $824.5M | −$445.85M | −$39.8M |
| 2014 | $751.94M | −$545.59M | −$7.57M |
| 2015 | $674.69M | −$226.65M | −$58.04M |
| 2016 | $774.78M | $100.09M | $12.14M |
| 2017 | $816.83M | $120.99M | $62.11M |
| 2018 | $784.5M | $10.29M | $3.13M |
| 2019 | $1.35B | $110.74M | $74.68M |
| 2020 | $1.34B | $177.88M | $283.76M |
| 2021 | $1.63B | $97.43M | $148.63M |
| 2022 | $1.49B | −$340.06M | −$242.9M |
| 2023 | $2.32B | −$103.7M | $71.2M |
| 2024 | $2.82B | $111.5M | $400.8M |
| 2025 | $3.68B | $995.12M | $1.08B |
Revenue by segment
How Pan American Silver Corp. makes its money and how that has shifted. Names are as the company reports them.
- Refined Silver and Gold80%
- Lead Concentrate10%
- Zinc Concentrate4%
- Silver Concentrate3%
- Copper Concentrate2%
- Other2%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|
| Refined Silver and Gold | $1.95B | $2.37B | $2.93B | 79.6% |
| Lead Concentrate | $163.5M | $201.8M | $379M | 10.3% |
| Zinc Concentrate | $83.2M | $101.3M | $153M | 4.2% |
| Silver Concentrate | $60.4M | $75M | $101M | 2.7% |
| Copper Concentrate | $54.6M | $71.7M | $56M | 1.5% |
| Other | $0 | $0 | $63.35M | 1.7% |
| Total revenue | $2.32B | $2.82B | $3.68B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 15 Oct 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.