Cash flow Pan American Silver Corp.

Equities

PAAS

CA6979001089

Non-Gold Precious Metals & Minerals

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-12-06 pm EST			5-day change	1st Jan Change
31.40 ^CAD	-1.69%		+1.09%	+45.17%

Dec. 03	Pan American Silver Up 6.6% as It Sells La Arena Gold Mine and La Arena II Project for US$245 Million	MT
Dec. 03	Zijin Mining Group Acquires Gold Mine, Copper-Gold Project in Peru for $245 Million	MT

eb3c5abfcd118e3f73f7820aaf9a97c8.P5rDb_ovuyVMJ_Fs9yU3hLrFC4_j7FOAKJOkx0E6NqQ.fNGyLah69HIdXrkzlVRgypesRLmAoGu3Qvzw9DFyBe5FrYsWy3_DTgV0gg

Published financial data: PAN AMERICAN SILVER CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.35B	1.34B	1.63B	1.49B	2.32B
Total Revenues	1.35B	1.34B	1.63B	1.49B	2.32B
Cost of Goods Sold, Total	892M	751M	994M	1.18B	1.62B
Gross Profit	459M	588M	639M	319M	699M
Selling General & Admin Expenses, Total	31.75M	36.38M	34.85M	28.98M	61.4M
Exploration / Drilling Costs, Total	9.8M	7.1M	11.07M	18.34M	14.6M
Depreciation & Amortization - (IS)	253M	254M	303M	316M	484M
Impairment of Oil, Gas & Mineral Properties - (IS)	41.93M	-	-	99.06M	32.1M
Other Operating Expenses	11.52M	30.33M	7.43M	22.33M	71.5M
Other Operating Expenses, Total	348M	328M	356M	485M	664M
Operating Income	111M	259M	283M	-165M	35M
Interest Expense, Total	-16.88M	-9.22M	-3.66M	-5.31M	-51.4M
Interest And Investment Income	84.7M	63.02M	-	5.37M	16M
Net Interest Expenses	67.82M	53.81M	-3.66M	60K	-35.4M
Income (Loss) On Equity Invest.	15.24M	10.53M	4.35M	45.03M	-400K
Currency Exchange Gains (Loss)	-5M	-1.93M	-5.87M	-2.27M	17.2M
Other Non Operating Income (Expenses)	-2.51M	-2.59M	-5.07M	-2.31M	-5.8M
EBT, Excl. Unusual Items	186M	319M	273M	-125M	10.6M
Merger & Related Restructuring Charges	-7.52M	-	-	-157M	-25.3M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-59.72M	-16.22M	-5.5M
Gain (Loss) On Sale Of Assets	3.86M	7.92M	32.17M	-2.44M	7.9M
Asset Writedown	-	-	-	-	-46.5M
Other Unusual Items	-	-75.1M	-	-	-
EBT, Incl. Unusual Items	183M	252M	245M	-301M	-58.8M
Income Tax Expense	71.27M	75.56M	146M	39.12M	46.1M
Earnings From Continuing Operations	111M	176M	98.56M	-340M	-105M
Net Income to Company	111M	176M	98.56M	-340M	-105M
Minority Interest	-506K	1.43M	-1.13M	-1.68M	1.2M
Net Income - (IS)	111M	178M	97.43M	-342M	-104M
Net Income to Common Incl Extra Items	111M	178M	97.43M	-342M	-104M
Net Income to Common Excl. Extra Items	111M	178M	97.43M	-342M	-104M
Per Share Items
Net EPS - Basic	0.55	0.85	0.46	-1.62	-0.32
Basic EPS - Continuing Operations	0.55	0.85	0.46	-1.62	-0.32
Basic Weighted Average Shares Outstanding	201M	210M	210M	211M	327M
Net EPS - Diluted	0.55	0.85	0.46	-1.62	-0.32
Diluted EPS - Continuing Operations	0.55	0.85	0.46	-1.62	-0.32
Diluted Weighted Average Shares Outstanding	202M	210M	210M	211M	327M
Normalized Basic EPS	0.58	0.96	0.8	-0.38	0.02
Normalized Diluted EPS	0.57	0.96	0.8	-0.38	0.02
Dividend Per Share	0.14	0.22	0.34	0.44	0.4
Payout Ratio	26.49	25.99	73.39	-27.72	-125.75
Supplemental Items
EBITDA	398M	526M	581M	264M	586M
EBITA	121M	268M	290M	-151M	69.2M
EBIT	111M	259M	283M	-165M	35M
Effective Tax Rate - (Ratio)	39.05	29.98	59.77	-13	-78.4
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	92.13M	98.36M	135M	83.02M	133M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-20.86M	-22.8M	11.34M	-43.9M	-86.8M
Normalized Net Income	116M	201M	169M	-79.78M	7.82M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	19.38M	11.84M	8.73M	7.62M	57.2M
Supplemental Operating Expense Items
General and Administrative Expenses	31.75M	36.38M	34.85M	28.98M	61.4M
Exploration/Drilling Costs	9.8M	7.1M	11.07M	18.34M	14.6M
Maintenance & Repair Expenses, Total	23.66M	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	9.15M	12.22M	8.83M	5.44M	9.9M
Total Stock-Based Compensation	9.15M	12.22M	8.83M	5.44M	9.9M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	121M	167M	284M	107M	400M
Short Term Investments	118M	112M	51.72M	35.34M	41.3M
Total Cash And Short Term Investments	238M	279M	335M	142M	441M
Accounts Receivable, Total	48.77M	35.08M	40.02M	50.26M	17.5M
Other Receivables	133M	106M	96.52M	117M	173M
Notes Receivable	392K	552K	667K	338K	-
Total Receivables	183M	142M	137M	168M	190M
Inventory	350M	406M	500M	472M	712M
Prepaid Expenses	16.84M	14.06M	13.01M	10.89M	29.7M
Other Current Assets, Total	1.27M	16M	15.22M	11.8M	17.3M
Total Current Assets	789M	857M	1B	804M	1.39B
Gross Property Plant And Equipment	5.18B	5.45B	5.61B	5.86B	9.62B
Accumulated Depreciation	-2.68B	-3.04B	-3.27B	-3.64B	-3.94B
Net Property Plant And Equipment	2.5B	2.42B	2.34B	2.23B	5.68B
Long-term Investments	84.32M	71.56M	78.66M	123M	-
Goodwill	3.06M	2.78M	2.78M	2.78M	-
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	36.45M	57.85M	55.95M	55.88M	80.4M
Other Long-Term Assets, Total	44.04M	29.76M	35.48M	35.85M	67.6M
Total Assets	3.46B	3.43B	3.52B	3.25B	7.21B
Liabilities
Accounts Payable, Total	66.92M	80.28M	77.46M	88.81M	198M
Accrued Expenses, Total	89.27M	95.85M	121M	108M	156M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	3.4M	13.71M	6.7M
Current Portion of Leases	14.2M	12.83M	10.66M	13.61M	45.7M
Current Income Taxes Payable	24.77M	54.56M	59.13M	25.83M	32.1M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	76.51M	118M	116M	131M	186M
Total Current Liabilities	272M	362M	388M	381M	624M
Long-Term Debt	296M	20.79M	32.69M	201M	719M
Long-Term Leases	27.01M	20.74M	19.9M	19.51M	52.2M
Unearned Revenue Non Current	12.54M	13.27M	12.52M	13.9M	13.1M
Deferred Tax Liability Non Current	177M	175M	185M	140M	542M
Other Non Current Liabilities	210M	236M	245M	291M	491M
Total Liabilities	994M	828M	883M	1.05B	2.44B
Common Stock, Total	3.12B	3.13B	3.14B	3.14B	5.97B
Retained Earnings	-755M	-623M	-598M	-1.03B	-1.27B
Comprehensive Income and Other	94.27M	93.41M	93.38M	90.26M	63.7M
Total Common Equity	2.46B	2.6B	2.63B	2.2B	4.76B
Minority Interest	4.75M	3.32M	4.45M	6.14M	11.8M
Total Equity	2.47B	2.61B	2.64B	2.2B	4.77B
Total Liabilities And Equity	3.46B	3.43B	3.52B	3.25B	7.21B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	210M	210M	211M	211M	365M
ECS Total Common Shares Outstanding	210M	210M	210M	211M	365M
Book Value / Share	11.74	12.38	12.5	10.42	13.06
Tangible Book Value	2.46B	2.6B	2.63B	2.19B	4.76B
Tangible Book Value Per Share	11.72	12.36	12.49	10.41	13.06
Total Debt	337M	54.35M	66.65M	248M	823M
Net Debt	98.66M	-225M	-269M	105M	382M
Minority Interest, Total (Incl. Fin. Div)	4.75M	3.32M	4.45M	6.14M	11.8M
Equity Method Investments, Total	84.32M	71.56M	78.66M	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	-	-	-	-	-
Land - (BS)	-	-	6.37M	6.88M	-
Machinery, Total	1.48B	1.46B	1.29B	1.28B	2.05B
Full Time Employees	6.8K	6.85K	7.1K	6.2K	-
Accumulated Allowance for Doubtful Accounts (Supple)	7.6M	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	111M	178M	97.43M	-342M	-104M
Depreciation & Amortization - CF	253M	272M	303M	316M	484M
Amortization of Goodwill and Intangible Assets - (CF)	9.9M	8.26M	7.47M	14.84M	34.2M
Impairment of Oil, Gas & Mineral Properties - (CF)	41.93M	-	-	99.06M	32.1M
Depreciation & Amortization, Total	305M	281M	310M	430M	550M
(Gain) Loss From Sale Of Asset	-3.86M	-7.92M	-32.17M	2.44M	-7.9M
(Gain) Loss on Sale of Investments - (CF)	-83.7M	-58.67M	59.72M	16.22M	5.5M
Asset Writedown & Restructuring Costs	-	-	-	-	46.5M
(Income) Loss On Equity Investments - (CF)	-15.24M	-10.53M	-4.35M	-45.03M	400K
Stock-Based Compensation (CF)	4.45M	3.02M	5.13M	3.94M	5.5M
Other Operating Activities, Total	-7.69M	-19.15M	26.98M	8.19M	-116M
Change In Accounts Receivable	1.54M	54.84M	-2.87M	-12.69M	45.9M
Change In Inventories	22.75M	-14.62M	-82.88M	-50.04M	38.5M
Change In Accounts Payable	-43.53M	56.82M	18.09M	20.71M	-10M
Change in Other Net Operating Assets	-8.72M	-49K	-3.4M	-21K	-5.5M
Cash from Operations	282M	462M	392M	31.91M	450M
Capital Expenditure	-207M	-179M	-243M	-275M	-379M
Sale of Property, Plant, and Equipment	10.27M	22.47M	45.8M	8.71M	3.8M
Cash Acquisitions	-247M	-	-	-	260M
Divestitures	-	-	-	-	355M
Investment in Marketable and Equity Securities, Total	39.73M	90.38M	1.86M	694K	145M
Other Investing Activities, Total	2.67M	-18.22M	9.16M	9.88M	13.8M
Cash from Investing	-402M	-83.92M	-187M	-255M	398M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	335M	80M	-	167M	315M
Total Debt Issued	335M	80M	-	167M	315M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-204M	-368M	-14.1M	-20.07M	-748M
Total Debt Repaid	-204M	-368M	-14.1M	-20.07M	-748M
Issuance of Common Stock	2.78M	4.74M	619K	940K	-
Common Dividends Paid	-29.33M	-46.22M	-71.5M	-94.73M	-130M
Common & Preferred Stock Dividends Paid	-29.33M	-46.22M	-71.5M	-94.73M	-130M
Other Financing Activities, Total	-924K	-	-933K	-269K	11.1M
Cash from Financing	103M	-330M	-85.91M	52.97M	-552M
Foreign Exchange Rate Adjustments	-1.06M	-2.26M	-3.1M	-6.02M	-3.7M
Net Change in Cash	-17.95M	46.55M	116M	-177M	293M
Supplemental Items
Cash Interest Paid	16.94M	10.22M	5.23M	6.58M	45.1M
Cash Income Tax Paid (Refund)	82.58M	81.64M	129M	138M	149M
Levered Free Cash Flow	63.25M	335M	187M	37.72M	102M
Unlevered Free Cash Flow	73.8M	341M	189M	41.04M	135M
Change In Net Working Capital	102M	-64.17M	63.35M	16.23M	68.7M
Net Debt Issued / Repaid	131M	-288M	-14.1M	147M	-432M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.56	4.7	5.08	-3.06	0.42
Return on Total Capital	3.18	5.93	6.59	-4.01	0.54
Return On Equity %	5.59	6.96	3.76	-14.06	-3.01
Return on Common Equity	5.58	7.02	3.72	-14.16	-2.98
Margin Analysis
Gross Profit Margin %	33.99	43.89	39.14	21.36	30.17
SG&A Margin	2.35	2.72	2.13	1.94	2.65
EBITDA Margin %	29.48	39.28	35.57	17.69	25.28
EBITA Margin %	8.92	19.99	17.78	-10.08	2.99
EBIT Margin %	8.19	19.37	17.32	-11.07	1.51
Income From Continuing Operations Margin %	8.24	13.18	6.04	-22.75	-4.53
Net Income Margin %	8.2	13.29	5.97	-22.86	-4.48
Net Avail. For Common Margin %	8.2	13.29	5.97	-22.86	-4.48
Normalized Net Income Margin	8.58	15.01	10.36	-5.34	0.34
Levered Free Cash Flow Margin	4.68	25.01	11.45	2.52	4.42
Unlevered Free Cash Flow Margin	5.46	25.44	11.59	2.75	5.81
Asset Turnover
Asset Turnover	0.5	0.39	0.47	0.44	0.44
Fixed Assets Turnover	0.71	0.54	0.69	0.65	0.59
Receivables Turnover (Average Receivables)	30.16	32.13	43.48	33.11	100.26
Inventory Turnover (Average Inventory)	3.08	2	2.19	2.42	2.73
Short Term Liquidity
Current Ratio	2.9	2.37	2.58	2.11	2.23
Quick Ratio	1.55	1.16	1.22	0.81	1.01
Operating Cash Flow to Current Liabilities	1.04	1.28	1.01	0.08	0.72
Days Sales Outstanding (Average Receivables)	12.1	11.39	8.39	11.02	3.64
Days Outstanding Inventory (Average Inventory)	118.46	183.37	166.52	150.93	133.51
Average Days Payable Outstanding	21.47	33.22	26.46	26.46	28.2
Cash Conversion Cycle (Average Days)	109.09	161.54	148.46	135.49	108.95
Long Term Solvency
Total Debt/Equity	13.66	2.09	2.53	11.25	17.25
Total Debt / Total Capital	12.01	2.04	2.47	10.11	14.71
LT Debt/Equity	13.08	1.59	1.99	10.01	16.15
Long-Term Debt / Total Capital	11.51	1.56	1.95	8.99	13.77
Total Liabilities / Total Assets	28.71	24.11	25.08	32.23	33.84
EBIT / Interest Expense	6.55	28.14	77.27	-31.15	0.68
EBITDA / Interest Expense	24.64	58.6	162.08	49.8	11.39
(EBITDA - Capex) / Interest Expense	12.36	39.23	95.56	-1.92	4.02
Total Debt / EBITDA	0.81	0.1	0.11	0.94	1.41
Net Debt / EBITDA	0.24	-0.42	-0.45	0.4	0.65
Total Debt / (EBITDA - Capex)	1.62	0.15	0.19	-24.26	3.99
Net Debt / (EBITDA - Capex)	0.47	-0.62	-0.77	-10.31	1.85
Growth Over Prior Year