Pan Amern Silver Corp Financials

PAASF

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Pan Amern Silver Corp (PAASF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PAASF FY2025 2026-04-22

Cash generation is scaling faster than reported profit, while very low debt keeps the business largely self-funded.

From FY2023 to FY2025, operating cash flow rose from $450.2M to $1.3B; because capex was lower by FY2025, the business moved from mostly funding its asset base to throwing off substantial surplus cash. That shows up in free cash flow margin, which widened from 3.1% to 28.2%, meaning the profit recovery was accompanied by better cash extraction rather than a paper rebound.

Liquidity looks structurally comfortable: cash reached $1.2B while long-term debt remained only $85M, so expansion was not leaning on leverage. Total liabilities of $2.7B against equity of $7.0B leave the balance sheet looking owner-funded more than creditor-funded.

Per-share progress lagged company-level progress because shares outstanding climbed from 364.7M to 421.8M between FY2023 and FY2025. Even with $70M of buybacks across FY2024-FY2025, the turnaround was spread across a larger share base, so headline profit growth overstates what improved for each share.

Financial Health Signals

Financial health score pending refresh

We are recalculating Pan Amern Silver Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Pan Amern Silver Corp passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.36x

For every $1 of reported earnings, Pan Amern Silver Corp generates $1.36 in operating cash flow ($1.3B OCF vs $980.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.6B

YoY+28.4%

5Y CAGR+22.0%

Pan Amern Silver Corp generated $3.6B in revenue in fiscal year 2025. This represents an increase of 28.4% from the prior year.

EBITDA

N/A

Net Income

$980.0M

YoY+767.3%

5Y CAGR+40.9%

Pan Amern Silver Corp reported $980.0M in net income in fiscal year 2025. This represents an increase of 767.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$1.0B

YoY+154.1%

5Y CAGR+29.1%

Pan Amern Silver Corp generated $1.0B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 154.1% from the prior year.

Cash & Debt

$1.2B

YoY+40.8%

5Y CAGR+48.7%

Pan Amern Silver Corp held $1.2B in cash against $85.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

422M

YoY+16.2%

5Y CAGR+14.9%

Pan Amern Silver Corp had 422M shares outstanding in fiscal year 2025. This represents an increase of 16.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

27.1%

YoY+23.1pp

5Y CAGR+13.9pp

Pan Amern Silver Corp's net profit margin was 27.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 23.1 percentage points from the prior year.

Return on Equity

14.0%

YoY+11.6pp

5Y CAGR+7.2pp

Pan Amern Silver Corp's ROE was 14.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$46.0M

YoY+91.7%

Pan Amern Silver Corp spent $46.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 91.7% from the prior year.

Capital Expenditures

$314.0M

YoY-2.8%

5Y CAGR+12.0%

Pan Amern Silver Corp invested $314.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.8% from the prior year.

PAASF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.6B+28.4%	$2.8B+21.7%	$2.3B+55.0%	$1.5B-8.5%	$1.6B+22.0%	$1.3B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$258.0M-19.1%	$319.0M+592.0%	$46.1M+17.9%	$39.1M-73.3%	$146.4M+93.8%	$75.6M
Net Income	$980.0M+767.3%	$113.0M+207.7%	-$104.9M+69.2%	-$340.1M-445.1%	$98.6M-44.1%	$176.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PAASF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.7B+35.2%	$7.2B-0.1%	$7.2B+122.0%	$3.2B-7.7%	$3.5B+2.5%	$3.4B
Current Assets	$2.2B+27.7%	$1.7B+23.7%	$1.4B+72.8%	$804.4M-19.7%	$1.0B+16.8%	$856.9M
Cash & Equivalents	$1.2B+40.8%	$863.0M+115.8%	$400.0M+273.8%	$107.0M-62.3%	$283.6M+69.7%	$167.1M
Inventory	$588.0M-3.0%	$606.0M-14.8%	$711.6M+50.9%	$471.6M-5.8%	$500.5M+23.2%	$406.2M
Accounts Receivable	$232.0M+40.6%	$165.0M+19.6%	$138.0M+1.0%	$136.6M+6.6%	$128.2M+0.3%	$127.8M
Goodwill	N/A	N/A	N/A	$5.9M+14.8%	$5.1M+23.4%	$4.2M
Total Liabilities	$2.7B+10.3%	$2.5B+1.9%	$2.4B+133.1%	$1.0B+18.6%	$882.6M+6.6%	$828.0M
Current Liabilities	$817.0M+18.9%	$687.0M+10.1%	$624.2M+63.9%	$380.8M-1.8%	$387.7M+7.2%	$361.8M
Long-Term Debt	$85.0M+57.4%	$54.0M+3.4%	$52.2M+167.7%	$19.5M-2.0%	$19.9M-4.0%	$20.7M
Total Equity	$7.0B+48.4%	$4.7B-1.2%	$4.8B+116.8%	$2.2B-16.5%	$2.6B+1.2%	$2.6B
Retained Earnings	-$513.0M+60.5%	-$1.3B-2.3%	-$1.3B-22.7%	-$1.0B-73.0%	-$598.0M+4.0%	-$623.0M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$9.7B+35.2%	$7.2B-0.1%	$7.2B+122.0%	$3.2B-7.7%	$3.5B+2.5%	$3.4B-0.8%	$3.5B+78.7%	$1.9B
Current Assets	$2.2B+27.7%	$1.7B+23.7%	$1.4B+72.8%	$804.4M-19.7%	$1.0B+16.8%	$856.9M+8.6%	$788.9M+43.9%	$548.4M
Cash & Equivalents	$1.2B+40.8%	$863.0M+115.8%	$400.0M+273.8%	$107.0M-62.3%	$283.6M+69.7%	$167.1M+38.6%	$120.6M-13.0%	$138.5M
Inventory	$588.0M-3.0%	$606.0M-14.8%	$711.6M+50.9%	$471.6M-5.8%	$500.5M+23.2%	$406.2M+17.2%	$346.5M+61.6%	$214.5M
Accounts Receivable	$232.0M+40.6%	$165.0M+19.6%	$138.0M+1.0%	$136.6M+6.6%	$128.2M+0.3%	$127.8M-24.3%	$168.8M+75.6%	$96.1M
Goodwill	N/A	N/A	N/A	$5.9M+14.8%	$5.1M+23.4%	$4.2M-16.4%	$5.0M-4.5%	$5.2M
Total Liabilities	$2.7B+10.3%	$2.5B+1.9%	$2.4B+133.1%	$1.0B+18.6%	$882.6M+6.6%	$828.0M-16.7%	$993.8M+134.3%	$424.1M
Current Liabilities	$817.0M+18.9%	$687.0M+10.1%	$624.2M+63.9%	$380.8M-1.8%	$387.7M+7.2%	$361.8M+33.2%	$271.7M+80.5%	$150.5M
Long-Term Debt	$85.0M+57.4%	$54.0M+3.4%	$52.2M+167.7%	$19.5M-2.0%	$19.9M-4.0%	$20.7M-23.2%	$27.0M+1946.2%	$1.3M
Total Equity	$7.0B+48.4%	$4.7B-1.2%	$4.8B+116.8%	$2.2B-16.5%	$2.6B+1.2%	$2.6B+5.6%	$2.5B+63.1%	$1.5B
Retained Earnings	-$513.0M+60.5%	-$1.3B-2.3%	-$1.3B-22.7%	-$1.0B-73.0%	-$598.0M+4.0%	-$623.0M+17.4%	-$754.7M+9.7%	-$836.1M

PAASF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.3B+84.1%	$724.0M+60.8%	$450.2M+1315.7%	$31.8M-91.9%	$392.1M-15.2%	$462.3M
Capital Expenditures	$314.0M-2.8%	$323.0M-14.8%	$379.0M+38.0%	$274.7M+12.8%	$243.5M+36.4%	$178.6M
Free Cash Flow	$1.0B+154.1%	$401.0M+463.2%	$71.2M+129.3%	-$242.9M-263.4%	$148.6M-47.6%	$283.8M
Investing Cash Flow	-$706.0M-2039.4%	-$33.0M-108.3%	$397.9M+255.8%	-$255.4M-36.8%	-$186.7M-122.4%	-$83.9M
Financing Cash Flow	-$278.0M-23.6%	-$225.0M+59.2%	-$551.8M-1141.1%	$53.0M+161.7%	-$85.9M+73.9%	-$329.6M
Dividends Paid	$175.0M+20.7%	$145.0M+11.2%	$130.4M+37.7%	$94.7M+32.4%	$71.5M+54.7%	$46.2M
Share Buybacks	$46.0M+91.7%	$24.0M	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PAASF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	27.1%+23.1pp	4.0%+8.5pp	-4.5%+18.2pp	-22.8%-28.8pp	6.0%-7.1pp	13.2%
Return on Equity	14.0%+11.6pp	2.4%+4.6pp	-2.2%+13.3pp	-15.4%-19.2pp	3.7%-3.0pp	6.8%
Return on Assets	10.1%+8.5pp	1.6%+3.0pp	-1.5%+9.0pp	-10.5%-13.3pp	2.8%-2.3pp	5.1%
Current Ratio	2.69+0.2	2.50+0.3	2.23+0.1	2.11-0.5	2.58+0.2	2.37
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.01
FCF Margin	28.2%+13.9pp	14.2%+11.1pp	3.1%+19.3pp	-16.3%-25.4pp	9.1%-12.1pp	21.2%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.69+0.2	2.50+0.3	2.23+0.1	2.11-0.5	2.58+0.2	2.37-0.5	2.90-0.7	3.64
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.010.0	0.01+0.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Pan Amern Silver Corp's annual revenue?

Pan Amern Silver Corp (PAASF) reported $3.6B in total revenue for fiscal year 2025. This represents a 28.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pan Amern Silver Corp's revenue growing?

Pan Amern Silver Corp (PAASF) revenue grew by 28.4% year-over-year, from $2.8B to $3.6B in fiscal year 2025.

Is Pan Amern Silver Corp profitable?

Yes, Pan Amern Silver Corp (PAASF) reported a net income of $980.0M in fiscal year 2025, with a net profit margin of 27.1%.

How much debt does Pan Amern Silver Corp have?

As of fiscal year 2025, Pan Amern Silver Corp (PAASF) had $1.2B in cash and equivalents against $85.0M in long-term debt.

What is Pan Amern Silver Corp's net profit margin?

Pan Amern Silver Corp (PAASF) had a net profit margin of 27.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Pan Amern Silver Corp's return on equity (ROE)?

Pan Amern Silver Corp (PAASF) has a return on equity of 14.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pan Amern Silver Corp's free cash flow?

Pan Amern Silver Corp (PAASF) generated $1.0B in free cash flow during fiscal year 2025. This represents a 154.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pan Amern Silver Corp's operating cash flow?

Pan Amern Silver Corp (PAASF) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pan Amern Silver Corp's total assets?

Pan Amern Silver Corp (PAASF) had $9.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pan Amern Silver Corp's capital expenditures?

Pan Amern Silver Corp (PAASF) invested $314.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Pan Amern Silver Corp buy back shares?

Yes, Pan Amern Silver Corp (PAASF) spent $46.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Pan Amern Silver Corp have outstanding?

Pan Amern Silver Corp (PAASF) had 422M shares outstanding as of fiscal year 2025.

What is Pan Amern Silver Corp's current ratio?

Pan Amern Silver Corp (PAASF) had a current ratio of 2.69 as of fiscal year 2025, which is generally considered healthy.

What is Pan Amern Silver Corp's debt-to-equity ratio?

Pan Amern Silver Corp (PAASF) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pan Amern Silver Corp's return on assets (ROA)?

Pan Amern Silver Corp (PAASF) had a return on assets of 10.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pan Amern Silver Corp's Piotroski F-Score?

Pan Amern Silver Corp (PAASF) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pan Amern Silver Corp's earnings high quality?

Pan Amern Silver Corp (PAASF) has an earnings quality ratio of 1.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.