Pan American Silver Corp. (PAAS) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 1.15B | 1.2B | 854.6M | 811.9M | 773.2M | 815.1M | 716.1M | 686.3M | 601.4M | 669.6M | 616.3M | 639.9M | 390.3M | 375.47M | 338.9M | 340.5M | 439.9M | 422.17M | 460.35M | 382.13M |
| Revenue Growth % | 49.25% | 46.91% | 19.34% | 18.3% | 28.57% | 21.73% | 16.19% | 7.25% | 54.09% | 78.34% | 81.85% | 87.93% | -11.28% | -11.06% | -26.38% | -10.89% | 19.51% | -1.93% | 53.24% | 53.15% |
| Cost of Goods Sold | 546M | 632.17M | 541.6M | 538.6M | 522.4M | 630.2M | 540.4M | 569.4M | 530.4M | 582.5M | 573.8M | 578.8M | 335.1M | 350.9M | 373.4M | 384.4M | 382.8M | 355.4M | 368.95M | 286.84M |
| COGS % of Revenue | 47.31% | 52.79% | 63.37% | 66.34% | 67.56% | 77.32% | 75.46% | 82.97% | 88.19% | 86.99% | 93.1% | 90.45% | 85.86% | 93.46% | 110.18% | 112.89% | 87.02% | 84.18% | 80.15% | 75.06% |
| Gross Profit | 608M | 565.26M | 313M | 273.3M | 250.8M | 184.9M | 175.7M | 116.9M | 71M | 87.1M | 42.5M | 61.1M | 55.2M | 24.57M | -34.5M | -43.9M | 57.1M | 66.77M | 91.4M | 95.29M |
| Gross Margin % | 52.69% | 47.21% | 36.63% | 33.66% | 32.44% | 22.68% | 24.54% | 17.03% | 11.81% | 13.01% | 6.9% | 9.55% | 14.14% | 6.54% | -10.18% | -12.89% | 12.98% | 15.82% | 19.85% | 24.94% |
| Gross Profit Growth % | 142.42% | 205.71% | 78.14% | 133.79% | 253.24% | 112.28% | 313.41% | 91.33% | 28.62% | 254.51% | 223.19% | 239.18% | -3.33% | -63.21% | -137.75% | -146.07% | -30.95% | -48.8% | -6.2% | 2596.49% |
| Operating Expenses | 48M | 96.26M | 63.3M | 29.4M | 22.6M | -69.7M | 23.8M | 27.5M | 36.2M | 91.7M | -1.6M | 67.8M | 27.7M | 172.58M | 16.6M | 109.9M | -33.5M | 14.07M | -9.75M | 1.52M |
| OpEx % of Revenue | 4.16% | 8.04% | 7.41% | 3.62% | 2.92% | -8.55% | 3.32% | 4.01% | 6.02% | 13.69% | -0.26% | 10.6% | 7.1% | 45.96% | 4.9% | 32.28% | -7.62% | 3.33% | -2.12% | 0.4% |
| Selling, General & Admin | 39M | 39.09M | 31.4M | 21.6M | 24.5M | 6.3M | 17.4M | 23.7M | 22.4M | 18.5M | 15M | 17.5M | 10.4M | 3M | 6.8M | 8.4M | 11M | 8.26M | 9.08M | 9.46M |
| SG&A % of Revenue | 3.38% | 3.26% | 3.67% | 2.66% | 3.17% | 0.77% | 2.43% | 3.45% | 3.72% | 2.76% | 2.43% | 2.73% | 2.66% | 0.8% | 2.01% | 2.47% | 2.5% | 1.96% | 1.97% | 2.48% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K |
| Operating Income | 560M | 469M | 249.7M | 243.9M | 228.2M | 254.6M | 151.9M | 89.4M | 34.8M | -4.6M | 44.1M | -6.7M | 27.5M | -148.01M | -51.1M | -153.8M | 90.6M | 52.7M | 101.15M | 93.77M |
| Operating Margin % | 48.53% | 39.17% | 29.22% | 30.04% | 29.51% | 31.24% | 21.21% | 13.03% | 5.79% | -0.69% | 7.16% | -1.05% | 7.05% | -39.42% | -15.08% | -45.17% | 20.6% | 12.48% | 21.97% | 24.54% |
| Operating Income Growth % | 145.4% | 84.21% | 64.38% | 172.82% | 555.75% | 5634.78% | 244.44% | 1434.33% | 26.55% | 96.89% | 186.3% | 95.64% | -69.65% | -380.85% | -150.52% | -264.01% | 23.62% | -60.48% | 20.09% | 611.49% |
| EBITDA | 673M | 612.17M | 370.2M | 366.3M | 347.6M | 443.3M | 282.1M | 217.8M | 159.2M | 116.7M | 181.4M | 124M | 100.6M | -68.73M | 26.8M | -79.5M | 175.1M | 128.84M | 184.33M | 162.31M |
| EBITDA Margin % | 58.32% | 51.12% | 43.32% | 45.12% | 44.96% | 54.39% | 39.39% | 31.74% | 26.47% | 17.43% | 29.43% | 19.38% | 25.77% | -18.31% | 7.91% | -23.35% | 39.8% | 30.52% | 40.04% | 42.48% |
| EBITDA Growth % | 93.61% | 38.09% | 31.23% | 68.18% | 118.34% | 279.86% | 55.51% | 75.65% | 58.25% | 269.78% | 576.87% | 255.97% | -42.55% | -153.35% | -85.46% | -148.98% | 18.01% | -39.23% | 33.06% | 277.54% |
| D&A (Non-Cash Add-back) | 113M | 143.17M | 120.5M | 122.4M | 119.4M | 188.7M | 130.2M | 128.4M | 124.4M | 121.3M | 137.3M | 130.7M | 73.1M | 79.28M | 77.9M | 74.3M | 84.5M | 76.14M | 83.18M | 68.54M |
| EBIT | 665M | 469M | 263.3M | 246.3M | 225.6M | 238.3M | 142.3M | 83.5M | 15.2M | -12.6M | 25.2M | -25.8M | 28M | -150.97M | -68.1M | -165.7M | 89.1M | 43.96M | 71.62M | 101.62M |
| Net Interest Income | -24M | 36.25M | -14.2M | -14.74M | -13M | -14.77M | -13M | -12.8M | -12.5M | -16.75M | -17.57M | -20.06M | -3.3M | -2.69M | -1.75M | -1.58M | -1.5M | -1.62M | -3.4M | -1.7M |
| Interest Income | 0 | 52.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 24M | 16.14M | 14.2M | 14.74M | 12.96M | 14.77M | 13M | 12.8M | 12.44M | 16.75M | 17.57M | 20.06M | 3.3M | 2.7M | 1.75M | 1.58M | 1.5M | 1.61M | 3.4M | 1.7M |
| Other Income/Expense | 81M | 79.91M | -600K | -9.5M | -14.3M | -28.6M | -21.5M | -17.7M | -31.2M | -21.2M | -35.8M | -37.6M | -2.3M | -5.16M | -18.2M | -12.9M | -2.4M | -9.57M | -30.54M | 7.07M |
| Pretax Income | 641M | 548.91M | 249.1M | 234.4M | 213.9M | 226M | 130.4M | 71.7M | 3.6M | -25.8M | 8.3M | -44.3M | 25.2M | -153.17M | -69.3M | -166.7M | 88.2M | 43.13M | 70.6M | 100.84M |
| Pretax Margin % | 55.55% | 45.84% | 29.15% | 28.87% | 27.66% | 27.73% | 18.21% | 10.45% | 0.6% | -3.85% | 1.35% | -6.92% | 6.46% | -40.79% | -20.45% | -48.96% | 20.05% | 10.22% | 15.34% | 26.39% |
| Income Tax | 185M | 90.06M | 79.9M | 44.8M | 44.6M | 118.2M | 73.3M | 93.1M | 34.4M | 25.5M | 28.9M | -11.3M | 8.7M | 18.89M | 1.9M | 6.9M | 11.4M | 28.47M | 50.38M | 29.6M |
| Effective Tax Rate % | 28.86% | 16.41% | 32.08% | 19.11% | 20.85% | 52.3% | 56.21% | 129.85% | 955.56% | -98.84% | 348.19% | 25.51% | 34.52% | -12.33% | -2.74% | -4.14% | 12.93% | 66% | 71.36% | 29.35% |
| Net Income | 457M | 458.44M | 168.6M | 189.2M | 168.7M | 107.6M | 57.16M | -21.9M | -30.9M | -51.5M | -19.7M | -32.4M | 16.4M | -172.06M | -71.2M | -173.63M | 76.52M | 14.04M | 20.25M | 70.94M |
| Net Margin % | 39.6% | 38.29% | 19.73% | 23.3% | 21.82% | 13.2% | 7.98% | -3.19% | -5.14% | -7.69% | -3.2% | -5.06% | 4.2% | -45.82% | -21.01% | -50.99% | 17.39% | 3.32% | 4.4% | 18.56% |
| Net Income Growth % | 170.9% | 326.06% | 194.98% | 964.11% | 645.95% | 308.93% | 390.13% | 32.42% | -288.41% | 70.07% | 72.33% | 81.34% | -78.57% | -1325.85% | -451.6% | -344.76% | 1081.24% | -91.7% | -69.2% | 253.58% |
| Net Income (Continuing) | 456M | 458.85M | 169.2M | 189.6M | 169.3M | 107.8M | 57.1M | -21.4M | -30.8M | -51.3M | -20.6M | -33M | 16.5M | -172.06M | -71.2M | -173.6M | 76.8M | 14.66M | 20.22M | 71.24M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1M | 3.99M | 6.1M | 14.3M | 13.8M | 13.1M | 12.9M | 12.5M | 12M | 11.8M | 58.8M | 499.2M | 495.5M | 6.1M | 5.44M | 5.12M | 4.77M | 4.45M | 3.83M | 3.86M |
| EPS (Diluted) | 1.08 | 1.09 | 0.44 | 0.52 | 0.46 | 0.30 | 0.16 | -0.06 | -0.08 | -0.15 | -0.05 | -0.09 | 0.08 | -0.82 | -0.34 | -0.82 | 0.36 | 0.07 | 0.10 | 0.34 |
| EPS Growth % | 134.78% | 263.33% | 175% | 962.35% | 642.45% | 300% | 420% | 33% | -206% | 81.71% | 85.29% | 89.02% | -77.78% | -1271.43% | -440% | -341.18% | 1070.35% | -91.25% | -67.74% | 240% |
| EPS (Basic) | 1.08 | 1.09 | 0.44 | 0.52 | 0.46 | 0.29 | 0.16 | -0.06 | -0.08 | -0.15 | -0.05 | -0.09 | 0.08 | -0.82 | -0.34 | -0.82 | 0.36 | 0.07 | 0.10 | 0.34 |
| Diluted Shares Outstanding | 421.93M | 422.15M | 378.91M | 362.12M | 362.52M | 363.07M | 363.07M | 362.95M | 364.49M | 345.49M | 364.44M | 364.44M | 210.7M | 210.57M | 210.53M | 210.51M | 210.55M | 210.45M | 210.42M | 210.44M |
| Basic Shares Outstanding | 421.85M | 422.05M | 378.82M | 362.01M | 362.41M | 363.04M | 363M | 362.95M | 364.49M | 345.49M | 364.44M | 364.44M | 210.68M | 210.57M | 210.53M | 210.51M | 210.46M | 210.35M | 210.3M | 210.28M |
| Dividend Payout Ratio | 16.63% | 13.12% | 25.74% | 19.13% | 21.46% | 33.74% | 63.51% | - | - | - | - | - | 128.66% | - | - | - | 33.06% | 149.84% | 103.85% | 20.75% |