Obermatt

Pan American Silver

TOR:PAAS · CA6979001089
Metals & MiningLarge

360

37
EV / EBIT25
Price / Owner Earnings51
Owner Earnings Yield70
Dividend Yield93
Price/Sales30
EV / Gross Profit28
Price/Book53
Return on Capital27
Cash Return on Capital65
Return on Equity41
EBIT Margin21
Gross Profitability36
Cash Conversion30
Accruals42
Owner Earnings Margin92
Sales growth46
Profit Growth86
Long-Term EPS Growth4
Owner Earnings Growth59
Reinvestment78
Price momentum49
Debt load56
Refinancing55
Debt Payback100
Liquidity59
Analyst ratings46
Opinion Changes74
Price Target Upside37
Market mood73
Value Creation20/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Pan American Silver generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryCanada
IndustryMetals & Mining
SizeLarge
TypePublic Company
ExchangeTSX
Founded1979
Employees1,557
ISINCA6979001089
Last UpdateApr 2, 2026
Themes
Mining TechnologyMining

Description

Pan American Silver Corp. (Pan American) principally engages in the operation and development of, and exploration for, silver and gold producing properties and assets. The company’s principal products are silver and gold, although it also produces a…

Analysis

Middle-of-the-road

Pan American Silver Corp. sits in the middle of our grid: average quality, average price, no obvious signal in either direction.

On valuation, the picture is attractive. The owner-earnings multiple stands at 14.0×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 1% a year, against analyst forecasts of -43%. The market is pricing in far more than analysts expect: heroic expectations.

Growth is moderate; the safety picture is sturdy. The company scores 20/20 on our value-creation score: strong value creator. Analyst sentiment is cautious.

No flags apply to this company at this time: accounts, balance sheet, and cash quality all pass. A clean bill of health is meaningful, not just the absence of a warning. This analysis describes numbers; it is not investment advice.

360° rank · history

1007550250
70
2023202420252026

All-time high

96

Sep 2025

All-time low

34

Feb 2026

Average rank

75

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
30
28
43
39
Price/Earnings
38
25
38
41
Price/Book
53
34
50
44
Dividend Yield
93
84
74
84
Value (overall)
64
61
37
60

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →