Pan American Silver Corp.
Pan American Silver Corp. is a precious-metals mining company focused on the exploration, development, extraction, processing, refining, and reclamation of silver and gold assets across the Americas. Pan American Silver operates a portfolio of mines and projects in countries including Canada, Mexico, Peru, Brazil, Bolivia, Chile, Argentina, and Guatemala, with additional output from zinc, lead, and copper as by-products. The company’s business is organized around silver and gold operations, supporting a diversified mining platform that serves industrial, jewelry, and broader metals markets. Pan American Silver is known for its multi-asset operating model, combining producing mines, development projects, and exploration interests to supply a range of precious and base metals to global markets.
$43.65
-$0.64 (-1.45%)
EOD Oct 21, 2026
31.45% operating margin is above average. ROIC at 13.47%.
Revenue up 28.4% YoY with margins expanding 19.0pp.
Even for strong businesses, today's 13x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
13.2x earnings, 18.0x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$4.31B
▲ +28.4% YoY
Net Income (TTM)
$1.38B
▲ +769.6% YoY
Op. Margin
39.21%
▲ +19.0pp YoY
ROIC
13.47%
▲ +10.3pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$1.02B
▲ +154.2% YoY
Op. Cash Flow (TTM)
$1.69B
▲ +37.2% YoY
Net Debt
-$467M
Net Cash Position
Cash & Equiv.
$1.32B
3Y CAGR: +34.3%
Continue Research
Is Pan American Silver (PAAS) overvalued?
At a P/E of 13.2 and a price-to-free-cash-flow of 18.0, Pan American Silver (PAAS) trades below a two-stage DCF intrinsic value of about $123.48 per share, so at $43.65 the stock looks undervalued (182.9% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Pan American Silver scores 84/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.8%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Pan American Silver's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $123.48 per share for PAAS, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $92.61. At today's $43.65, that puts the stock about 182.9% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Pan American Silver a high-quality business?+
Pan American Silver scores 84 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 39.2% operating margin and a 13.5% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Pan American Silver (PAAS) pay a dividend, and how much?+
Yes, Pan American Silver pays a regular dividend of about $0.36 per share per year (typically in quarterly installments), a yield of roughly 0.8% at the current price. That is a payout ratio of about 11.0% of earnings, so the dividend is amply covered by earnings. Pan American Silver has grown the dividend at roughly 10.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For PAAS's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Pan American Silver a good stock to buy right now?+
That depends on valuation and quality together, not either alone. PAAS currently trades below its estimated intrinsic value and scores 84/100 on quality (high-quality). It also yields about 0.8%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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