Financials Pan American Silver Corp. Buenos Aires S.E.

Equities

PAAS

ARBCOM4603C0

Non-Gold Precious Metals & Minerals

End-of-day quote Buenos Aires S.E. 06:00:00 2024-05-27 pm EDT 5-day change 1st Jan Change
9,381 ARS +4.62% Intraday chart for Pan American Silver Corp. +10.29% +75.67%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,960 7,244 5,250 3,434 5,946 7,968 - -
Enterprise Value (EV) 1 5,038 6,998 4,960 3,518 6,307 7,915 7,493 6,599
P/E ratio 43 x 40.5 x 54.3 x -10.1 x -51 x 41.2 x 18.2 x 12.5 x
Yield 0.59% 0.64% 1.36% 2.76% 2.45% 1.7% 1.76% -
Capitalization / Revenue 3.67 x 5.41 x 3.22 x 2.3 x 2.57 x 2.97 x 2.9 x 2.97 x
EV / Revenue 3.73 x 5.23 x 3.04 x 2.35 x 2.72 x 2.95 x 2.73 x 2.46 x
EV / EBITDA 11.3 x 13.2 x 8.36 x 11.1 x 10.1 x 9.11 x 6.88 x 5.9 x
EV / FCF 67.5 x 24.7 x 33.4 x -14.5 x 88.6 x 22 x 18.6 x 11.4 x
FCF Yield 1.48% 4.05% 3% -6.9% 1.13% 4.55% 5.38% 8.75%
Price to Book 1.93 x 2.78 x - - - - - -
Nbr of stocks (in thousands) 209,610 210,174 210,313 210,688 364,439 362,947 - -
Reference price 2 23.66 34.47 24.96 16.30 16.32 22.67 22.67 22.67
Announcement Date 2/19/20 2/17/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,351 1,339 1,633 1,495 2,316 2,680 2,746 2,684
EBITDA 1 446.1 530.7 593.2 317.1 622.8 868.7 1,089 1,118
EBIT 1 192.7 276.3 290.2 -44.07 138.6 466.7 432.1 -
Operating Margin 14.27% 20.64% 17.78% -2.95% 5.98% 17.42% 15.73% -
Earnings before Tax (EBT) 1 182.5 252 245 -300.9 -58.8 327.4 691 1,103
Net income 1 110.7 177.9 97.43 -341.7 -104.9 183.1 424 439.2
Net margin 8.2% 13.29% 5.97% -22.86% -4.53% 6.83% 15.44% 16.36%
EPS 2 0.5500 0.8500 0.4600 -1.620 -0.3200 0.5500 1.245 1.820
Free Cash Flow 1 74.68 283.8 148.6 -242.8 71.2 360.5 403.4 577.4
FCF margin 5.53% 21.19% 9.1% -16.24% 3.07% 13.45% 14.69% 21.51%
FCF Conversion (EBITDA) 16.74% 53.46% 25.06% - 11.43% 41.5% 37.04% 51.62%
FCF Conversion (Net income) 67.43% 159.52% 152.55% - - 196.91% 95.15% 131.47%
Dividend per Share 2 0.1400 0.2200 0.3400 0.4500 0.4000 0.3850 0.4000 -
Announcement Date 2/19/20 2/17/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 422.2 439.9 340.5 338.9 375.5 390.3 639.9 616.3 669.6 601.4 680.6 737.4 751 - -
EBITDA 1 114 149 87.06 46.55 102.8 79.5 168.2 168.8 177 161.5 236 257.6 283.4 279.5 283.2
EBIT 1 37.83 64.5 12.73 - 13.01 6.4 22.1 19.5 - 37.1 100.9 153.2 - - -
Operating Margin 8.96% 14.66% 3.74% - 3.46% 1.64% 3.45% 3.16% - 6.17% 14.82% 20.78% - - -
Earnings before Tax (EBT) 43.14 - - - - - - - - - - - - - -
Net income 1 13.8 76.52 -174 -71.53 -172.8 16.5 -46.8 -22.7 -67.8 -30.8 63.59 99.17 - - -
Net margin 3.27% 17.39% -51.1% -21.11% -46.01% 4.23% -7.31% -3.68% -10.13% -5.12% 9.34% 13.45% - - -
EPS 2 0.0600 0.3600 -0.8300 - -0.8200 0.0800 -0.1300 -0.0600 -0.1900 -0.0800 0.1700 0.2700 - - -
Dividend per Share 0.1000 - - - - - - - - - - - - - -
Announcement Date 2/23/22 5/11/22 8/10/22 11/10/22 2/22/23 5/10/23 8/9/23 11/7/23 2/21/24 5/8/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 77.9 - - 84.5 361 - - -
Net Cash position 1 - 245 289 - - 53.1 475 1,369
Leverage (Debt/EBITDA) 0.1745 x - - 0.2665 x 0.5792 x - - -
Free Cash Flow 1 74.7 284 149 -243 71.2 360 403 577
ROE (net income / shareholders' equity) 7.93% 9.61% 6.18% 0.74% 1.13% 57.7% 20.8% -
ROA (Net income/ Total Assets) 5.83% 7.06% 4.65% - - - - -
Assets 1 1,898 2,520 2,093 - - - - -
Book Value Per Share 12.20 12.40 - - - - - -
Cash Flow per Share 2 1.400 2.170 2.200 0.3500 1.170 1.910 2.450 2.410
Capex 1 207 179 243 275 379 372 386 295
Capex / Sales 15.35% 13.34% 14.91% 18.38% 16.36% 13.87% 14.04% 10.98%
Announcement Date 2/19/20 2/17/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
21.95 USD
Average target price
23.9 USD
Spread / Average Target
+8.87%
Consensus
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  5. Financials Pan American Silver Corp.