Company Valuation: Pan American Silver Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 7,241 5,245 3,440 5,969 7,366 24,480 24,480 -
Change - -27.57% -34.41% 73.5% 23.4% 232.36% 0% -
Enterprise Value (EV) 1 6,996 4,956 3,525 6,330 7,212 23,904 22,480 20,222
Change - -29.16% -28.87% 79.57% 13.93% 231.47% -5.96% -10.05%
P/E ratio 40.5x 54.2x -10.1x -51.2x 65.2x 25x 15.8x 14.6x
PBR 2.78x - - - - - - -
PEG - -1.2x 0x 0.6x -0x 0x 0.3x 1.72x
Capitalization / Revenue 5.41x 3.21x 2.3x 2.58x 2.61x 6.9x 5.18x 4.81x
EV / Revenue 5.23x 3.04x 2.36x 2.73x 2.56x 6.74x 4.76x 3.97x
EV / EBITDA 13.2x 8.35x 11.1x 10.2x 7.15x 14x 7.91x 6.44x
EV / EBIT 25.3x 17.1x -80x 45.7x 16.5x 19.7x 10.1x 7.42x
EV / FCF 24.7x 33.3x -14.5x 88.9x 18x 22.1x 12.1x 9.23x
FCF Yield 4.06% 3% -6.89% 1.12% 5.56% 4.53% 8.26% 10.8%
Dividend per Share 2 0.22 0.34 0.45 0.4 0.4 0.5667 0.62 -
Rate of return 0.64% 1.36% 2.76% 2.44% 1.98% 0.98% 1.07% -
EPS 2 0.85 0.46 -1.62 -0.32 0.31 2.32 3.672 3.985
Distribution rate 25.9% 73.9% -27.8% -125% 129% 24.4% 16.9% -
Net sales 1 1,339 1,633 1,495 2,316 2,819 3,549 4,722 5,090
EBITDA 1 530.7 593.2 317.1 622.8 1,008 1,704 2,842 3,138
EBIT 1 276.3 290.2 -44.07 138.6 436.3 1,212 2,232 2,726
Net income 1 177.9 97.43 -341.7 -104.9 111.5 885.8 1,550 1,682
Net Debt 1 -245.5 -289.4 84.49 360.7 -154 -576 -2,000 -4,258
Reference price 2 34.45 24.94 16.33 16.38 20.21 58.00 58.00 58.00
Nbr of stocks (in thousands) 210,174 210,313 210,688 364,439 364,440 422,047 422,047 -
Announcement Date 2/17/21 2/23/22 2/22/23 2/22/24 2/19/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25x6.73x14.01x0.98% 24.48B
13.67x3.53x6.21x3.84% 183B
15.23x3.22x7.34x4.03% 167B
20.39x5.15x9.38x2.53% 92.85B
66.59x0.5x8.75x1.45% 78.89B
35.65x8.01x19.42x-.--% 75.54B
-86.46x3.21x9.7x0.43% 52.74B
33.62x8.55x14.42x2.01% 38.75B
13.03x1.93x5.97x5.29% 29.05B
33.52x4.06x10.59x0.63% 28.78B
Average 17.03x 4.49x 10.58x 2.12% 77.19B
Weighted average by Cap. 17.61x 4.08x 9.44x 2.62%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Pan American Silver Corp.