Last 48 quarters of trend data · Basic Materials · Silver Miners
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 10.88 | 13.23 | 16.00 | 12.65 | 11.88 | 22.01 | 13.65 | 14.04 | 16.85 | 32.61 | — | — | — | — | — | 56.88 | — | — | — | 18.96 | 89.18 |
| — | -39.9% | +17.2% | -9.9% | -29.5% | -32.5% | — | — | — | — | — | — | — | — | — | +200.0% | — | — | — | — | +726.9% | |
| P/S Ratio | 3.90 | 4.69 | 4.30 | 4.99 | 4.57 | 4.29 | 3.17 | 3.03 | 2.25 | 2.65 | 2.63 | 2.28 | 2.11 | 2.14 | 2.08 | 2.46 | 2.29 | 2.47 | 3.04 | 3.27 | 3.11 |
| — | +9.3% | +35.7% | +64.9% | +102.8% | +62.3% | +20.5% | +32.5% | +6.9% | +23.6% | +26.6% | -7.0% | -8.1% | -13.2% | -31.7% | -24.8% | -26.4% | -7.3% | -22.7% | -23.8% | -26.5% | |
| P/B Ratio | 2.25 | 2.55 | 2.56 | 3.13 | 3.13 | 2.22 | 2.07 | 1.94 | 1.56 | 1.63 | 1.56 | 1.17 | 1.18 | 1.08 | 0.98 | 0.70 | 1.56 | 1.41 | 1.67 | 2.14 | 1.99 |
| — | +15.1% | +23.9% | +61.7% | +101.1% | +35.8% | +32.5% | +65.1% | +31.7% | +51.7% | +58.9% | +68.2% | -24.4% | -24.0% | -41.2% | -67.4% | -21.6% | -23.7% | -26.6% | -12.5% | -28.8% | |
| P/FCF | 11.02 | 18.36 | 11.67 | 14.41 | 10.64 | 16.86 | 11.03 | 21.94 | 9.73 | 12.54 | 20.78 | — | 29.08 | 223.60 | 330.34 | 74.90 | — | — | — | 196.85 | 27.40 |
| — | +8.9% | +5.8% | -34.3% | +9.4% | +34.5% | -46.9% | — | -66.6% | -94.4% | -93.7% | — | — | — | — | -62.0% | — | — | — | — | +75.8% | |
| EV / EBITDA | 7.48 | 9.77 | 8.50 | 8.32 | 8.82 | 9.90 | 6.84 | 6.67 | 4.11 | 7.05 | 8.82 | 9.43 | 12.95 | 7.91 | 12.27 | 11.46 | — | 30.40 | — | 7.88 | 9.73 |
| — | -1.3% | +24.3% | +24.8% | +114.7% | +40.5% | -22.5% | -29.3% | -68.3% | -10.9% | -28.1% | -17.7% | — | -74.0% | — | +45.4% | — | +378.9% | — | -24.7% | +15.3% | |
| EV / EBIT | 14.36 | 9.33 | 11.14 | 8.42 | 9.55 | 13.92 | 10.17 | 10.27 | 7.64 | 13.97 | 23.02 | 98.72 | — | 56.93 | — | 41.17 | — | — | — | 15.49 | 28.52 |
| — | -33.0% | +9.4% | -18.0% | +25.1% | -0.4% | -55.8% | -89.6% | — | -75.5% | — | +139.8% | — | — | — | +165.8% | — | — | — | -68.6% | +156.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.7% | 37.1% | 39.3% | 52.7% | 47.2% | 36.6% | 33.7% | 32.4% | 22.7% | 24.5% | 17.0% | 11.8% | 13.0% | 6.9% | 9.5% | 14.1% | 6.5% | -10.2% | -12.9% | 13.0% | 15.8% |
| — | +1.2% | +16.8% | +62.4% | +108.1% | +49.3% | +97.6% | +174.8% | +74.4% | +255.8% | +78.4% | -16.5% | +98.8% | +167.7% | +174.1% | +9.0% | -58.6% | -151.3% | -151.7% | -42.2% | -47.8% | |
| Operating Margin | 32.3% | 34.5% | 37.1% | 48.5% | 39.2% | 29.2% | 30.0% | 29.5% | 31.2% | 21.2% | 13.0% | 5.8% | -0.7% | 7.2% | -1.0% | 7.0% | -39.4% | -15.1% | -45.2% | 20.6% | 12.5% |
| — | +18.1% | +23.5% | +64.4% | +25.4% | +37.7% | +130.6% | +410.0% | +4646.6% | +196.4% | +1344.2% | -17.9% | +98.3% | +147.5% | +97.7% | -65.8% | -415.8% | -168.6% | -284.1% | +3.4% | -59.7% | |
| Net Margin | 27.0% | 35.5% | 27.0% | 39.6% | 38.3% | 19.7% | 23.3% | 21.8% | 13.2% | 8.0% | -3.2% | -5.1% | -7.7% | -3.2% | -5.1% | 4.2% | -45.8% | -21.0% | -51.0% | 17.4% | 3.3% |
| — | +79.9% | +16.1% | +81.5% | +190.0% | +147.2% | +830.4% | +524.6% | +271.6% | +349.7% | +37.0% | -222.3% | +83.2% | +84.8% | +90.1% | -75.8% | -1478.3% | -577.6% | -374.7% | +921.1% | -91.5% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.0% | 4.8% | 4.0% | 6.4% | 6.7% | 2.9% | 3.9% | 3.5% | 2.3% | 1.2% | -0.5% | -0.7% | -1.1% | -0.4% | -0.6% | 0.4% | -7.5% | -2.9% | -6.7% | 2.9% | 0.5% |
| — | +66.4% | +4.4% | +80.3% | +193.0% | +135.7% | +920.1% | +640.6% | +316.0% | +423.0% | +20.8% | -253.3% | +85.9% | +87.0% | +91.2% | -85.2% | -1516.5% | -483.4% | -347.5% | +1056.2% | -92.0% | |
| ROA | 11.8% | 3.5% | 2.9% | 4.6% | 4.9% | 2.0% | 2.6% | 2.3% | 1.5% | 0.8% | -0.3% | -0.4% | -0.7% | -0.2% | -0.4% | 0.3% | -5.3% | -2.2% | -5.1% | 2.2% | 0.4% |
| — | +72.0% | +12.5% | +96.6% | +224.1% | +153.7% | +938.0% | +641.6% | +314.7% | +437.2% | +13.5% | -263.0% | +86.9% | +89.1% | +92.9% | -87.8% | -1430.5% | -473.8% | -343.1% | +1044.7% | -92.0% | |
| ROIC | 15.7% | 3.9% | 4.6% | 6.3% | 5.3% | 3.3% | 3.9% | 3.6% | 3.9% | 2.3% | 1.3% | 0.5% | -0.1% | 0.6% | -0.1% | 0.5% | -4.8% | -1.7% | -4.8% | 2.8% | 1.6% |
| — | +17.8% | +18.1% | +71.8% | +33.8% | +46.9% | +196.9% | +623.4% | +6133.6% | +293.3% | +1716.1% | +4.9% | +98.6% | +134.5% | +98.3% | -82.8% | -394.2% | -154.2% | -271.3% | +26.1% | -59.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.11 | 0.11 | 0.11 | 0.13 | 0.13 | 0.17 | 0.17 | 0.17 | 0.18 | 0.18 | 0.17 | 0.17 | 0.16 | 0.21 | 0.22 | 0.10 | 0.03 | 0.02 | 0.02 | 0.02 |
| — | -11.9% | -30.8% | -31.0% | -21.4% | -26.3% | -5.8% | -3.4% | +1.4% | +6.4% | -16.6% | -20.3% | +63.0% | +469.1% | +831.1% | +1230.8% | +539.5% | +83.9% | +24.8% | +36.0% | +25.1% | |
| Debt / EBITDA | 0.54 | 1.81 | 1.58 | 1.26 | 1.53 | 2.31 | 2.24 | 2.31 | 1.81 | 2.89 | 3.72 | 5.07 | 6.87 | 4.46 | 9.16 | 11.80 | — | 2.55 | — | 0.25 | 0.33 |
| — | -21.8% | -29.5% | -45.7% | -15.7% | -19.9% | -39.7% | -54.3% | -73.6% | -35.2% | -59.4% | -57.1% | — | +74.6% | — | +4633.6% | — | +1032.6% | — | +19.9% | +108.2% | |
| Current Ratio | 2.69 | 2.72 | 2.94 | 2.84 | 2.69 | 2.31 | 3.05 | 2.93 | 2.50 | 2.06 | 2.06 | 2.11 | 2.23 | 2.29 | 2.13 | 2.30 | 2.11 | 2.12 | 2.43 | 2.71 | 2.58 |
| — | +17.5% | -3.8% | -3.2% | +7.3% | +12.1% | +48.3% | +39.2% | +12.5% | -9.9% | -3.3% | -8.5% | +5.4% | +7.9% | -12.5% | -15.2% | -18.2% | -21.2% | -13.2% | +5.2% | +9.0% | |
| Quick Ratio | 1.97 | 2.03 | 2.23 | 2.11 | 1.97 | 1.55 | 2.11 | 1.94 | 1.62 | 0.96 | 0.92 | 0.92 | 1.09 | 1.20 | 1.09 | 1.24 | 0.87 | 0.96 | 1.22 | 1.41 | 1.29 |
| — | +31.1% | +5.6% | +8.8% | +21.3% | +61.3% | +128.9% | +111.8% | +49.3% | -20.3% | -15.8% | -25.9% | +24.4% | +25.7% | -10.3% | -12.1% | -32.3% | -28.1% | -2.0% | +20.6% | +3.7% | |
| Interest Coverage | 22.34 | 18.77 | 32.08 | 27.71 | 35.00 | 18.54 | 16.71 | 17.41 | 16.13 | 10.94 | 6.52 | 1.22 | -0.75 | 1.43 | -1.29 | 8.48 | -56.00 | -38.88 | -105.18 | 59.27 | 27.23 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying PAAS stock.
Pan American Silver Corp.'s current P/E is 10.9x. The average P/E over the last 4 quarters is 13.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Pan American Silver Corp.'s current operating margin is 32.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Pan American Silver Corp.'s business trajectory between earnings reports.