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Pan American Silver Corp.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Total Revenue 1.2B 854.6M 811.9M 773.2M 815.1M
Operating Revenue 1.2B 854.6M 811.9M 773.2M 815.1M
Cost Of Revenue 611.4M 541.6M 538.6M 522.4M 630.2M
Gross Profit 567.9M 313.0M 273.3M 250.8M 184.9M
Selling General And Administration 38.5M 31.4M 21.6M 24.5M 6.3M
General And Administrative Expense 38.5M 31.4M 21.6M 24.5M 6.3M
Other Operating Expenses 68.8M 24.1M 15.7M 12.4M 63.9M
Operating Expense 114.6M 62.7M 45.1M 44.6M 77.6M
Operating Income 453.3M 250.3M 228.2M 206.2M 107.3M
EBIT 557.8M 263.3M 246.3M 225.6M 238.3M
Interest Expense 17.2M 14.2M 11.9M 11.7M 12.3M
Interest Expense Non Operating 17.2M 14.2M 11.9M 11.7M 12.3M
Net Interest Income -15.9M -14.6M -14.5M -13.0M -15.2M
Other Income Expense 103.2M 13.4M 20.9M 20.7M 133.9M
Special Income Charges -7.6M -21.7M 800,000 -500,000 2.5M
Restructuring And Mergern Acquisition -- -- -- -- 0.00
Write Off -- -- -- -- --
Gain On Sale Of Security 110.8M 35.1M 20.1M 21.2M -6.0M
Pretax Income 540.6M 249.1M 234.4M 213.9M 226.0M
Tax Provision 88.7M 79.9M 44.8M 44.6M 118.2M
Tax Effect Of Unusual Items 16.9M 4.3M 4.0M 4.3M -525,000
Net Income From Continuing And Discontinued Operation 451.5M 168.6M 189.2M 168.7M 107.6M
Net Income From Continuing Operation Net Minority Interest 451.5M 168.6M 189.2M 168.7M 107.6M
Net Income Including Noncontrolling Interests 451.9M 169.2M 189.6M 169.3M 107.8M
Minority Interests -400,000 -600,000 -400,000 -600,000 -200,000
Net Income Common Stockholders 451.5M 168.6M 189.2M 168.7M 107.6M
Net Income 451.5M 168.6M 189.2M 168.7M 107.6M
EBITDA 692.5M 383.8M 368.7M 345.0M 427.0M
Normalized EBITDA 589.3M 370.4M 347.8M 324.3M 430.5M
Reconciled Depreciation 134.7M 120.5M 122.4M 119.4M 188.7M
Basic EPS 1.07 0.45 0.52 0.47 --
Diluted EPS 1.07 0.44 0.52 0.47 --
Basic Average Shares 422.0M 378.8M 362.0M 362.4M --
Diluted Average Shares 422.1M 378.9M 362.1M 362.5M --
Total Unusual Items 103.2M 13.4M 20.9M 20.7M -3.5M
Total Unusual Items Excluding Goodwill 103.2M 13.4M 20.9M 20.7M -3.5M
Tax Rate For Calcs 0.16 0.32 0.19 0.21 0.15
Normalized Income 365.2M 159.5M 172.3M 152.3M 110.6M
Average Dilution Earnings -- 0.00 -- -- --
Diluted NI Availto Com Stockholders 451.5M 168.6M 189.2M 168.7M 107.6M
Gain On Sale Of Business -7.3M -21.7M -- -- --
Gain On Sale Of Ppe -- 0.00 800,000 -500,000 2.5M
Impairment Of Capital Assets -- -- -- -- 0.00
Net Income Continuous Operations 451.9M 169.2M 189.6M 169.3M 107.8M
Net Non Operating Interest Income Expense -15.9M -14.6M -14.5M -13.0M -15.2M
Other Gand A 38.5M 31.4M 21.6M 24.5M 6.3M
Reconciled Cost Of Revenue 611.4M 541.6M 538.6M 522.4M 630.2M
Total Expenses 726.0M 604.3M 583.7M 567.0M 707.8M
Total Operating Income As Reported 511.2M 249.7M 243.9M 228.2M 254.6M
Total Other Finance Cost -1.3M 400,000 2.6M 1.3M 2.9M
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Cash And Cash Equivalents 1.2B 870.2M 1.1B 900.1M 863.0M
Cash Cash Equivalents And Short Term Investments 1.3B 910.8M 1.1B 923.0M 887.0M
Cash Equivalents 72.0M -- -- -- 0.00
Cash Financial 1.1B -- 1.1B 900.1M 863.0M
Other Short Term Investments 104.0M 40.6M 28.3M 22.9M 24.0M
Accounts Receivable 232.0M 206.7M 160.6M 171.8M 165.0M
Receivables 256.0M 237.5M 185.2M 201.3M 195.0M
Inventory 588.0M 587.2M 603.4M 594.6M 606.0M
Prepaid Assets 29.0M 30.5M 38.2M 38.9M 32.0M
Current Assets 2.2B 1.8B 1.9B 1.8B 1.7B
Gross PPE 9.9B 9.7B 9.6B 9.6B 9.5B
Accumulated Depreciation -4.5B -4.4B -4.4B -4.3B -4.2B
Net PPE 5.3B 5.3B 5.3B 5.3B 5.3B
Investments And Advances 1.9B 1.9B -- -- 0.00
Long Term Equity Investment 1.9B 1.9B -- -- 0.00
Other Non Current Assets 113.0M 103.0M 81.1M 86.2M 79.0M
Total Non Current Assets 7.5B 7.4B 5.4B 5.4B 5.5B
Total Assets 9.7B 9.1B 7.4B 7.2B 7.2B
Current Debt 5.0M 6.0M 6.8M 6.8M 7.0M
Current Debt And Capital Lease Obligation 58.0M 59.6M 52.0M 47.2M 48.0M
Accounts Payable 187.0M 188.7M 176.6M 165.2M 194.0M
Payables 556.0M 496.0M 420.3M 420.2M 483.0M
Payables And Accrued Expenses 713.0M 639.8M 529.6M 507.0M 591.0M
Current Accrued Expenses 157.0M 143.8M 109.3M 86.8M 108.0M
Other Current Liabilities -- -- -- 2.1M 13.0M
Current Liabilities 817.0M 766.4M 637.9M 600.9M 687.0M
Long Term Debt 709.0M 707.0M 704.8M 703.4M 702.0M
Long Term Debt And Capital Lease Obligation 794.0M 797.4M 768.7M 757.2M 756.0M
Long Term Capital Lease Obligation 85.0M 90.4M 63.9M 53.8M 54.0M
Other Non Current Liabilities 4.0M -- -- -- 3.0M
Total Non Current Liabilities Net Minority Interest 1.9B 1.8B 1.7B 1.8B 1.8B
Total Liabilities Net Minority Interest 2.7B 2.5B 2.4B 2.4B 2.5B
Common Stock 7.4B 7.5B 5.9B 5.9B 5.9B
Capital Stock 7.4B 7.5B 5.9B 5.9B 5.9B
Retained Earnings -513.0M -898.7M -1.0B -1.2B -1.3B
Gains Losses Not Affecting Retained Earnings -32.0M -30.3M -30.7M -30.9M -31.0M
Other Equity Adjustments -32.0M -30.3M -30.7M -30.9M -31.0M
Common Stock Equity 7.0B 6.6B 5.0B 4.8B 4.7B
Stockholders Equity 7.0B 6.6B 5.0B 4.8B 4.7B
Total Equity Gross Minority Interest 7.0B 6.6B 5.0B 4.8B 4.7B
Minority Interest 4.0M 6.1M 14.3M 13.8M 13.0M
Total Capitalization 7.7B 7.3B 5.7B 5.5B 5.4B
Net Tangible Assets 7.0B 6.6B 5.0B 4.8B 4.7B
Tangible Book Value 7.0B 6.6B 5.0B 4.8B 4.7B
Working Capital 1.4B 1.0B 1.3B 1.2B 1.0B
Invested Capital 7.7B 7.3B 5.7B 5.5B 5.4B
Total Debt 852.0M 857.0M 820.7M 804.4M 804.0M
Net Debt -- -- -- -- --
Share Issued 421.8M 422.0M 361.8M 362.2M 363.0M
Ordinary Shares Number 421.8M 422.0M 361.8M 362.2M 363.0M
Capital Lease Obligations 138.0M 144.0M 109.1M 94.2M 95.0M
Current Capital Lease Obligation 53.0M 53.6M 45.2M 40.4M 41.0M
Current Provisions 46.0M 67.0M 56.3M 44.6M 35.0M
Employee Benefits 68.0M 60.7M 61.8M 61.1M 57.0M
Hedging Assets Current 4.0M 6.8M 12.4M 4.9M 0.00
Income Tax Payable 164.0M 116.5M 82.0M 72.7M 102.0M
Investmentsin Associatesat Cost 1.9B 1.9B -- -- 0.00
Long Term Provisions 589.0M 426.3M 428.7M 429.6M 427.0M
Machinery Furniture Equipment 2.3B -- -- -- 2.2B
Non Current Accounts Receivable 33.0M 20.3M 24.0M 18.9M 11.0M
Non Current Deferred Assets 83.0M 36.8M 31.1M 33.5M 45.0M
Non Current Deferred Liabilities 469.0M 473.6M 489.6M 526.5M 556.0M
Non Current Deferred Revenue 13.0M 13.0M 13.0M 13.1M 13.0M
Non Current Deferred Taxes Assets 83.0M 36.8M 31.1M 33.5M 45.0M
Non Current Deferred Taxes Liabilities 435.0M 435.7M 455.0M 491.9M 522.0M
Non Current Note Receivables 8.0M 7.0M -- -- 0.00
Non Current Pension And Other Postretirement Benefit Plans 68.0M 60.7M 61.8M 61.1M 57.0M
Non Current Prepaid Assets 23.0M 24.8M 19.8M 15.6M 23.0M
Other Current Borrowings 5.0M 6.0M 6.8M 6.8M 7.0M
Other Equity Interest 94.0M 95.2M 94.8M 94.9M 94.0M
Other Payable 183.0M 170.6M 136.0M 154.1M 156.0M
Taxes Receivable 24.0M 30.8M 24.6M 29.5M 30.0M
Total Tax Payable 186.0M 136.7M 107.7M 100.9M 133.0M
Tradeand Other Payables Non Current -- -- -- -- --
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Operating Cash Flow 556.1M 308.7M 293.4M 174.8M 274.1M
Cash Flow From Continuing Operating Activities 556.1M 308.7M 293.4M 174.8M 274.1M
Depreciation And Amortization 134.7M 120.5M 122.4M 119.4M 188.7M
Depreciation Amortization Depletion 134.7M 120.5M 122.4M 119.4M 188.7M
Stock Based Compensation 200,000 600,000 200,000 1.0M -4.4M
Deferred Tax 88.7M 79.9M 44.8M 44.6M 118.2M
Deferred Income Tax 88.7M 79.9M 44.8M 44.6M 118.2M
Change In Working Capital 35.1M -4.3M 5.5M -65.3M -5.6M
Change In Receivables -15.0M -53.5M 800,000 -14.3M -43.1M
Change In Inventory 3.2M -1.0M -13.2M 1.0M 14.3M
Change In Payables And Accrued Expense 43.9M 42.1M 7.9M -44.9M 44.8M
Change In Other Working Capital -900,000 4.7M 5.2M 1.0M --
Other Non Cash Items -300,000 16.8M 11.9M 15.0M 7.5M
Capital Expenditure -94.5M -91.1M -60.3M -68.1M -85.4M
Purchase Of PPE -94.5M -91.1M -60.3M -68.1M -85.4M
Net PPE Purchase And Sale -133.8M -51.1M -56.0M -68.1M -83.3M
Purchase Of Business -31.5M -511.5M -- -- -16.2M
Sale Of Business 40.8M 102.2M -- -- 306.6M
Purchase Of Investment -- -- -- -- -5.3M
Sale Of Investment 4.3M 4.2M 3.3M -- 0.00
Net Investment Purchase And Sale -26.7M 4.2M 3.3M 200,000 -5.3M
Investing Cash Flow -123.4M -462.0M -52.7M -67.9M 201.8M
Cash Flow From Continuing Investing Activities -123.4M -462.0M -52.7M -67.9M 201.8M
Issuance Of Debt -- -- -- -- 0.00
Repayment Of Debt -16.1M -14.5M -14.9M -13.5M -13.9M
Net Issuance Payments Of Debt -16.1M -14.5M -14.9M -13.5M -13.9M
Issuance Of Capital Stock 500,000 800,000 800,000 900,000 500,000
Repurchase Of Capital Stock -14.9M 0.00 -11.1M -20.0M 0.00
Net Common Stock Issuance -14.4M 800,000 -10.3M -19.1M 500,000
Common Stock Dividend Paid -59.2M -43.4M -36.2M -36.2M -36.3M
Common Stock Payments -14.9M 0.00 -11.1M -20.0M 0.00
Financing Cash Flow -89.7M -57.1M -61.3M -69.9M -49.7M
Cash Flow From Continuing Financing Activities -89.7M -57.1M -61.3M -69.9M -49.7M
Effect Of Exchange Rate Changes 1.6M -300,000 1.4M 300,000 -2.4M
Changes In Cash 343.0M -210.4M 179.4M 37.0M 426.2M
Beginning Cash Position 870.2M 1.1B 900.1M 862.8M 439.0M
End Cash Position 1.2B 870.2M 1.1B 900.1M 862.8M
Free Cash Flow 461.6M 217.6M 233.1M 106.7M 188.7M
Asset Impairment Charge -- -4.3M -- -4.1M 0.00
Cash Dividends Paid -59.2M -43.4M -36.2M -36.2M -36.3M
Change In Prepaid Assets 3.9M 3.4M 4.8M -8.1M -18.8M
Common Stock Issuance 500,000 800,000 800,000 900,000 500,000
Earnings Losses From Equity Investments -- -- -- 0.00 --
Gain Loss On Investment Securities -136.2M -26.8M -17.8M -14.2M 10.6M
Gain Loss On Sale Of Business 7.3M 21.7M -- -- --
Gain Loss On Sale Of PPE 300,000 0.00 -800,000 500,000 -2.5M
Interest Paid Cfo -9.7M -9.8M -9.4M -9.1M -9.3M
Interest Received Cfo 6.8M 8.7M 6.6M 6.9M 3.5M
Long Term Debt Issuance -- -- -- -- 0.00
Long Term Debt Payments -16.1M -14.5M -14.9M -13.5M -13.9M
Net Business Purchase And Sale 9.3M -409.3M -- -- 290.4M
Net Foreign Currency Exchange Gain Loss 7.6M 800,000 8.7M 5.9M -6.0M
Net Income From Continuing Operations 451.9M 169.2M 189.6M 169.3M 107.8M
Net Long Term Debt Issuance -16.1M -14.5M -14.9M -13.5M -13.9M
Net Other Financing Charges 0.00 -- 100,000 -1.1M 0.00
Net Other Investing Changes -16.2M -5.8M -- -- --
Operating Gains Losses -121.0M -4.3M -9.9M -7.8M -135.3M
Other Cash Adjustment Outside Changein Cash -- -- -- -- --
Sale Of PPE -39.3M 40.0M 4.3M 0.00 2.1M
Taxes Refund Paid -90.3M -64.3M -68.3M -95.1M -65.0M
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