Financials Pan American Silver Corp.

Equities

PAAS

CA6979001089

Non-Gold Precious Metals & Minerals

Market Closed - Toronto Stock Exchange 03:59:59 2023-12-08 pm EST Intraday chart for Pan American Silver Corp. 5-day change 1st Jan Change
20.21 CAD -2.65% -7.46% -8.55%

Valuation

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 2 237 4 960 7 244 5 250 3 434 5 417 - -
Enterprise Value (EV) 1 2 032 5 038 6 998 4 960 3 518 5 760 5 531 5 396
P/E ratio 208x 43,0x 40,5x 54,3x -10,1x -119x 23,6x 12,9x
Yield 0,96% 0,59% 0,64% 1,36% 2,76% 2,71% 1,68% -
Capitalization / Revenue 2,85x 3,67x 5,41x 3,22x 2,30x 2,34x 2,02x 2,05x
EV / Revenue 2,59x 3,73x 5,23x 3,04x 2,35x 2,49x 2,06x 2,04x
EV / EBITDA 8,31x 11,3x 13,2x 8,36x 11,1x 8,67x 5,73x 4,52x
EV / FCF 191x 67,5x 24,7x 33,4x -14,5x 102x 13,9x 10,1x
FCF Yield 0,52% 1,48% 4,05% 3,00% -6,90% 0,98% 7,18% 9,93%
Price to Book 1,48x 1,93x 2,78x - - - - -
Nbr of stocks (in thousands) 153 319 209 610 210 174 210 313 210 688 364 439 - -
Reference price 2 14,6 23,7 34,5 25,0 16,3 14,9 14,9 14,9
Announcement Date 2/20/19 2/19/20 2/17/21 2/23/22 2/22/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 784 1 351 1 339 1 633 1 495 2 313 2 680 2 645
EBITDA 1 245 446 531 593 317 664 965 1 193
EBIT 1 97,3 193 276 290 -44,1 154 344 695
Operating Margin 12,4% 14,3% 20,6% 17,8% -2,95% 6,67% 12,8% 26,3%
Earnings before Tax (EBT) 1 33,2 183 252 245 -301 4,50 330 520
Net income 1 10,3 111 178 97,4 -342 -41,6 224 349
Net margin 1,31% 8,20% 13,3% 5,97% -22,9% -1,80% 8,35% 13,2%
EPS 2 0,07 0,55 0,85 0,46 -1,62 -0,13 0,63 1,16
Free Cash Flow 1 10,6 74,7 284 149 -243 56,7 397 536
FCF margin 1,36% 5,53% 21,2% 9,10% -16,2% 2,45% 14,8% 20,3%
FCF Conversion (EBITDA) 4,35% 16,7% 53,5% 25,1% - 8,53% 41,2% 44,9%
FCF Conversion (Net income) 103% 67,4% 160% 153% - - 177% 154%
Dividend per Share 2 0,14 0,14 0,22 0,34 0,45 0,40 0,25 -
Announcement Date 2/20/19 2/19/20 2/17/21 2/23/22 2/22/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 382 460 422 440 340 339 375 390 640 616 646 634 637 602
EBITDA 1 152 186 114 149 87,1 46,5 103 79,5 168 169 226 209 212 211
EBIT 83,4 103 37,8 64,5 12,7 - 13,0 6,40 22,1 19,5 - 67,7 71,0 89,4
Operating Margin 21,8% 22,4% 8,96% 14,7% 3,74% - 3,46% 1,64% 3,45% 3,16% - 10,7% 11,1% 14,8%
Earnings before Tax (EBT) 101 70,6 43,1 - - - - - - - - - - -
Net income 1 70,9 20,3 13,8 76,5 -174 -71,5 -173 16,5 -46,8 -22,7 10,4 36,2 38,4 50,9
Net margin 18,6% 4,40% 3,27% 17,4% -51,1% -21,1% -46,0% 4,23% -7,31% -3,68% 1,61% 5,71% 6,03% 8,46%
EPS 2 0,34 0,10 0,06 0,36 -0,83 - -0,82 0,08 -0,13 -0,06 0,03 0,14 0,15 0,19
Dividend per Share 0,07 0,10 0,10 - - - - - - - - - - -
Announcement Date 8/10/21 11/9/21 2/23/22 5/11/22 8/10/22 11/10/22 2/22/23 5/10/23 8/9/23 11/7/23 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - 77,9 - - 84,5 343 114 -
Net Cash position 1 206 - 245 289 - - - 21,0
Leverage (Debt/EBITDA) - 0,17x - - 0,27x 0,52x 0,12x -
Free Cash Flow 1 10,6 74,7 284 149 -243 56,7 397 536
ROE (net income / shareholders' equity) 4,04% 7,93% 9,61% 6,18% 0,74% 1,80% 6,00% 6,50%
Shareholders' equity 1 254 1 396 1 851 1 576 -45 986 -2 306 3 729 5 369
ROA (Net income/ Total Assets) 3,11% 5,83% 7,06% 4,65% - - 3,00% 3,00%
Assets 1 331 1 898 2 520 2 093 - - 7 458 11 633
Book Value Per Share 9,83 12,2 12,4 - - - - -
Cash Flow per Share 2 1,04 1,40 2,17 2,20 0,35 1,35 2,36 2,38
Capex 1 152 207 179 243 275 397 429 363
Capex / Sales 19,4% 15,4% 13,3% 14,9% 18,4% 17,2% 16,0% 13,7%
Announcement Date 2/20/19 2/19/20 2/17/21 2/23/22 2/22/23 - - -
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 :
A
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
14.86USD
Average target price
21.32USD
Spread / Average Target
+43.41%
Consensus
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