Pan American Silver Corp. income statement PAASF
In fiscal 2025, which ended Dec 31, 2025, Pan American Silver Corp. reported revenue of $3.6 billion, up 28.4% from the year before. Net income was $980.0 million, a profit margin of 27.1%. Operating income came to $1.2 billion, an operating margin of 34.1%. Diluted earnings per share were $2.56. Across the 9 fiscal years shown, revenue grew from $816.8 million in fiscal 2017 to $3.6 billion in fiscal 2025, about 20.5% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
|---|---|---|---|---|---|---|---|---|---|
| Revenue |
3,619
+28.4%
|
2,819
+21.7%
|
2,316
+55.0%
|
1,495
-8.5%
|
1,633
+22.0%
|
1,339
-0.9%
|
1,351
+72.2%
|
784
-4.0%
|
817
|
| Cost of revenue |
2,214
-2.5%
|
2,270
+12.4%
|
2,019
+39.6%
|
1,446
+14.3%
|
1,265
+29.2%
|
979
-12.7%
|
1,121
+64.1%
|
684
+5.5%
|
648
|
| Gross profit |
1,405
+155.9%
|
549
+85.0%
|
297
+513.2%
|
48
-86.8%
|
368
+2.2%
|
360
+57.1%
|
229
+127.2%
|
101
-40.2%
|
169
|
| Selling, general and administrative |
116
+65.7%
|
70
+14.0%
|
61
+111.7%
|
29
-16.8%
|
35
-4.2%
|
36
+14.6%
|
32
+40.2%
|
23
+5.9%
|
21
|
| Operating income |
1,233
+132.2%
|
531
+1293.7%
|
38
+114.5%
|
-262
-181.7%
|
321
+52.8%
|
210
+65.2%
|
127
+197.7%
|
43
-77.3%
|
188
|
| Pretax income |
1,238
+186.6%
|
432
+834.7%
|
-59
+80.5%
|
-301
-222.9%
|
245
-2.8%
|
252
+38.1%
|
183
+449.9%
|
33
-81.8%
|
182
|
| Income tax |
258
-19.1%
|
319
+592.0%
|
46
+17.9%
|
39
-73.3%
|
146
+93.8%
|
76
+6.0%
|
71
+237.0%
|
21
-64.2%
|
59
|
| Net income |
980
+767.3%
|
113
+207.7%
|
-105
+69.2%
|
-340
-445.1%
|
99
-44.1%
|
176
+58.6%
|
111
+823.9%
|
12
-90.2%
|
123
|
| Basic EPS |
2.56
+725.8%
|
0.31
+196.9%
|
-0.32
+80.2%
|
-1.62
-452.2%
|
0.46
-45.9%
|
0.85
+54.5%
|
0.55
+685.7%
|
0.07
-91.1%
|
0.79
|
| Diluted EPS |
2.56
+725.8%
|
0.31
+196.9%
|
-0.32
+80.2%
|
-1.62
-452.2%
|
0.46
-45.9%
|
0.85
+54.5%
|
0.55
+685.7%
|
0.07
-91.1%
|
0.79
|
| Weighted average shares, basic |
381
+5.0%
|
363
+11.3%
|
327
+55.1%
|
211
+0.1%
|
210
+0.1%
|
210
+4.3%
|
201
+31.4%
|
153
+0.2%
|
153
|
| Weighted average shares, diluted |
382
+5.0%
|
363
+11.3%
|
327
+55.1%
|
211
+0.0%
|
210
+0.1%
|
210
+4.3%
|
202
+31.3%
|
154
+0.1%
|
153
|
| Other measures | |||||||||
| Depreciation and amortization |
497
-13.0%
|
571
+17.9%
|
484
+53.2%
|
316
+4.3%
|
303
+19.1%
|
254
+0.4%
|
253
+72.1%
|
147
+19.9%
|
123
|
| EBITDA |
1,730
+57.0%
|
1,102
+111.0%
|
522
+872.6%
|
54
-91.4%
|
624
+34.3%
|
464
+22.0%
|
381
+100.3%
|
190
-39.0%
|
311
|
| Interest coverage |
22.42x
|
11.06x
|
0.74x
|
-49.49x
|
87.68x
|
22.78x
|
7.53x
|
18.62x
|
78.77x
|
| Margins | |||||||||
| Gross margin |
38.82%
|
19.47%
|
12.81%
|
3.24%
|
22.53%
|
26.90%
|
16.97%
|
12.86%
|
20.66%
|
| Operating margin |
34.07%
|
18.84%
|
1.65%
|
-17.55%
|
19.65%
|
15.68%
|
9.41%
|
5.44%
|
23.06%
|
| Pretax margin |
34.21%
|
15.32%
|
-2.54%
|
-20.14%
|
15.00%
|
18.82%
|
13.51%
|
4.23%
|
22.34%
|
| Profit margin |
27.08%
|
4.01%
|
-4.53%
|
-22.75%
|
6.04%
|
13.18%
|
8.24%
|
1.53%
|
15.11%
|
| EBITDA margin |
47.80%
|
39.09%
|
22.55%
|
3.59%
|
38.21%
|
34.69%
|
28.17%
|
24.22%
|
38.10%
|
| Effective tax rate |
20.84%
|
73.84%
|
—
|
—
|
59.77%
|
29.98%
|
39.05%
|
63.72%
|
32.35%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Gold and Silver Ores (SIC 1040)
- Listed as
- PAAS (NYSE), PAASF (OTC)
- Fiscal year ends
- December 31
- Headquarters
- Vancouver, British Columbia, Canada
- SEC CIK
- 771992
Other Gold and Silver Ores companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.