Pan American Silver Corp (PAAS) - Net Assets
Based on the latest financial reports, Pan American Silver Corp (PAAS) has net assets worth CA$6.99 Billion CAD (≈ $5.06 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.72 Billion ≈ $7.03 Billion USD) and total liabilities (CA$2.74 Billion ≈ $1.98 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are Pan American Silver Corp's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$6.99 Billion |
| % of Total Assets | 71.86% |
| Annual Growth Rate | 17.79% |
| 5-Year Change | 165.11% |
| 10-Year Change | 399.52% |
| Growth Volatility | 54.84 |
Pan American Silver Corp - Net Assets Trend (1996–2025)
This chart illustrates how Pan American Silver Corp's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Pan American Silver Corp for the complete picture of this company's asset base.
Annual Net Assets for Pan American Silver Corp (1996–2025)
The table below shows the annual net assets of Pan American Silver Corp from 1996 to 2025. For live valuation and market cap data, see PAAS company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$6.99 Billion ≈ $5.06 Billion |
+48.16% |
| 2024-12-31 | CA$4.72 Billion ≈ $3.41 Billion |
-1.17% |
| 2023-12-31 | CA$4.77 Billion ≈ $3.45 Billion |
+116.77% |
| 2022-12-31 | CA$2.20 Billion ≈ $1.59 Billion |
-16.48% |
| 2021-12-31 | CA$2.64 Billion ≈ $1.91 Billion |
+1.16% |
| 2020-12-31 | CA$2.61 Billion ≈ $1.89 Billion |
+5.59% |
| 2019-12-31 | CA$2.47 Billion ≈ $1.79 Billion |
+63.07% |
| 2018-12-31 | CA$1.51 Billion ≈ $1.09 Billion |
-0.51% |
| 2017-12-31 | CA$1.52 Billion ≈ $1.10 Billion |
+8.72% |
| 2016-12-31 | CA$1.40 Billion ≈ $1.01 Billion |
+7.73% |
| 2015-12-31 | CA$1.30 Billion ≈ $939.40 Million |
-17.28% |
| 2014-12-31 | CA$1.57 Billion ≈ $1.14 Billion |
-28.27% |
| 2013-12-31 | CA$2.19 Billion ≈ $1.58 Billion |
-19.73% |
| 2012-12-31 | CA$2.73 Billion ≈ $1.97 Billion |
+70.20% |
| 2011-12-31 | CA$1.60 Billion ≈ $1.16 Billion |
+4.84% |
| 2010-12-31 | CA$1.53 Billion ≈ $1.11 Billion |
+12.44% |
| 2009-12-31 | CA$1.36 Billion ≈ $983.11 Million |
+96.57% |
| 2008-12-31 | CA$691.39 Million ≈ $500.14 Million |
+14.26% |
| 2007-12-31 | CA$605.10 Million ≈ $437.72 Million |
+15.99% |
| 2006-12-31 | CA$521.71 Million ≈ $377.39 Million |
+99.80% |
| 2005-12-31 | CA$261.12 Million ≈ $188.89 Million |
-7.27% |
| 2004-12-31 | CA$281.58 Million ≈ $203.69 Million |
+52.95% |
| 2003-12-31 | CA$184.10 Million ≈ $133.18 Million |
+231.76% |
| 2002-12-31 | CA$55.49 Million ≈ $40.14 Million |
-5.75% |
| 2001-12-31 | CA$58.88 Million ≈ $42.59 Million |
+2.32% |
| 2000-12-31 | CA$57.54 Million ≈ $41.63 Million |
-39.36% |
| 1999-12-31 | CA$94.90 Million ≈ $68.65 Million |
+53.83% |
| 1998-12-31 | CA$61.69 Million ≈ $44.63 Million |
+1.72% |
| 1997-12-31 | CA$60.65 Million ≈ $43.87 Million |
+0.14% |
| 1996-12-31 | CA$60.56 Million ≈ $43.81 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Pan American Silver Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 50579141600.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$7.43 Billion | 106.45% |
| Other Comprehensive Income | CA$61.89 Million | 0.89% |
| Total Equity | CA$6.98 Billion | 100.00% |
Pan American Silver Corp Competitors by Market Cap
The table below lists competitors of Pan American Silver Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Williams-Sonoma Inc
NYSE:WSM
|
$21.49 Billion |
|
Telefonica SA ADR
NYSE:TEF
|
$21.49 Billion |
|
Corpay Inc
NYSE:CPAY
|
$21.49 Billion |
|
CSG N.V.
AS:CSG
|
$21.53 Billion |
|
Lundin Mining Corporation
TO:LUN
|
$21.47 Billion |
|
Northern Star Resources Ltd
AU:NST
|
$21.43 Billion |
|
United Therapeutics Corporation
NASDAQ:UTHR
|
$21.42 Billion |
|
Charter Communications Inc
NASDAQ:CHTR
|
$21.41 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pan American Silver Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,703,500,000 to 6,984,266,509, a change of 2,280,766,509 (48.5%).
- Net income of 995,120,411 contributed positively to equity growth.
- Dividend payments of 178,063,468 reduced retained earnings.
- Share repurchases of 46,805,254 reduced equity.
- New share issuances of 3,000,000 increased equity.
- Other comprehensive income increased equity by 92,787,169.
- Other factors increased equity by 1,414,727,651.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$995.12 Million | +14.25% |
| Dividends Paid | CA$178.06 Million | -2.55% |
| Share Repurchases | CA$46.81 Million | -0.67% |
| Share Issuances | CA$3.00 Million | +0.04% |
| Other Comprehensive Income | CA$92.79 Million | +1.33% |
| Other Changes | CA$1.41 Billion | +20.26% |
| Total Change | CA$- | 48.49% |
Book Value vs Market Value Analysis
This analysis compares Pan American Silver Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.85x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 25.18x to 3.85x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$2.80 | CA$70.40 | x |
| 1997-12-31 | CA$2.80 | CA$70.40 | x |
| 1998-12-31 | CA$2.44 | CA$70.40 | x |
| 1999-12-31 | CA$3.24 | CA$70.40 | x |
| 2000-12-31 | CA$1.69 | CA$70.40 | x |
| 2001-12-31 | CA$1.63 | CA$70.40 | x |
| 2002-12-31 | CA$1.34 | CA$70.40 | x |
| 2003-12-31 | CA$3.61 | CA$70.40 | x |
| 2004-12-31 | CA$4.29 | CA$70.40 | x |
| 2005-12-31 | CA$3.84 | CA$70.40 | x |
| 2006-12-31 | CA$6.72 | CA$70.40 | x |
| 2007-12-31 | CA$7.57 | CA$70.40 | x |
| 2008-12-31 | CA$8.49 | CA$70.40 | x |
| 2009-12-31 | CA$15.31 | CA$70.40 | x |
| 2010-12-31 | CA$14.13 | CA$70.40 | x |
| 2011-12-31 | CA$14.94 | CA$70.40 | x |
| 2012-12-31 | CA$19.09 | CA$70.40 | x |
| 2013-12-31 | CA$14.22 | CA$70.40 | x |
| 2014-12-31 | CA$10.32 | CA$70.40 | x |
| 2015-12-31 | CA$8.55 | CA$70.40 | x |
| 2016-12-31 | CA$9.16 | CA$70.40 | x |
| 2017-12-31 | CA$9.89 | CA$70.40 | x |
| 2018-12-31 | CA$9.82 | CA$70.40 | x |
| 2019-12-31 | CA$12.22 | CA$70.40 | x |
| 2020-12-31 | CA$12.38 | CA$70.40 | x |
| 2021-12-31 | CA$12.51 | CA$70.40 | x |
| 2022-12-31 | CA$10.43 | CA$70.40 | x |
| 2023-12-31 | CA$14.58 | CA$70.40 | x |
| 2024-12-31 | CA$12.94 | CA$70.40 | x |
| 2025-12-31 | CA$18.30 | CA$70.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pan American Silver Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.25%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.02%
- • Asset Turnover: 0.38x
- • Equity Multiplier: 1.39x
- Recent ROE (14.25%) is above the historical average (-5.27%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -3.13% | -6.88% | 0.41x | 1.12x | CA$-7.95 Million |
| 1997 | -1.50% | -3.27% | 0.39x | 1.19x | CA$-6.97 Million |
| 1998 | -9.74% | -19.92% | 0.43x | 1.15x | CA$-12.18 Million |
| 1999 | -6.12% | -21.59% | 0.25x | 1.14x | CA$-15.30 Million |
| 2000 | -79.73% | -153.28% | 0.36x | 1.44x | CA$-51.63 Million |
| 2001 | -13.72% | -21.66% | 0.41x | 1.55x | CA$-13.96 Million |
| 2002 | -60.65% | -74.64% | 0.47x | 1.71x | CA$-39.21 Million |
| 2003 | -3.69% | -15.06% | 0.16x | 1.52x | CA$-25.20 Million |
| 2004 | 7.10% | 2.14% | 2.51x | 1.32x | CA$-8.12 Million |
| 2005 | -11.11% | -23.36% | 0.34x | 1.41x | CA$-54.33 Million |
| 2006 | 11.37% | 22.79% | 0.38x | 1.33x | CA$7.00 Million |
| 2007 | 14.82% | 29.52% | 0.39x | 1.27x | CA$28.90 Million |
| 2008 | 3.59% | 7.27% | 0.39x | 1.27x | CA$-43.96 Million |
| 2009 | 4.61% | 13.63% | 0.25x | 1.38x | CA$-72.38 Million |
| 2010 | 7.40% | 17.81% | 0.30x | 1.36x | CA$-39.46 Million |
| 2011 | 22.12% | 41.21% | 0.44x | 1.22x | CA$193.11 Million |
| 2012 | 3.21% | 9.41% | 0.27x | 1.25x | CA$-184.58 Million |
| 2013 | -20.43% | -54.08% | 0.30x | 1.27x | CA$-664.08 Million |
| 2014 | -34.90% | -72.56% | 0.37x | 1.29x | CA$-701.90 Million |
| 2015 | -17.47% | -33.59% | 0.39x | 1.32x | CA$-356.37 Million |
| 2016 | 7.17% | 12.92% | 0.41x | 1.36x | CA$-39.54 Million |
| 2017 | 7.98% | 14.81% | 0.41x | 1.31x | CA$-30.69 Million |
| 2018 | 0.68% | 1.31% | 0.40x | 1.28x | CA$-140.53 Million |
| 2019 | 4.50% | 8.20% | 0.39x | 1.41x | CA$-135.57 Million |
| 2020 | 6.83% | 13.29% | 0.39x | 1.32x | CA$-82.37 Million |
| 2021 | 3.70% | 5.97% | 0.46x | 1.34x | CA$-165.73 Million |
| 2022 | -15.49% | -22.75% | 0.46x | 1.48x | CA$-559.61 Million |
| 2023 | -2.18% | -4.48% | 0.32x | 1.52x | CA$-579.77 Million |
| 2024 | 2.37% | 3.96% | 0.39x | 1.53x | CA$-358.85 Million |
| 2025 | 14.25% | 27.02% | 0.38x | 1.39x | CA$296.69 Million |
Industry Comparison
This section compares Pan American Silver Corp's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $503,278,506
- Average return on equity (ROE) among peers: -30.71%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pan American Silver Corp (PAAS) | CA$6.99 Billion | -3.13% | 0.39x | $21.48 Billion |
| Allied Gold Corporation (AAUC) | $381.03 Million | -54.71% | 1.51x | $3.60 Billion |
| Abcourt Mines Inc. (ABI) | $31.66 Million | 1.13% | 0.45x | $86.06 Million |
| Barrick Gold Corp (ABX) | $3.56 Billion | 6.97% | 0.76x | $63.93 Billion |
| American Eagle Gold Corp (AE) | $830.83K | -165.75% | 0.05x | $138.81 Million |
| Agnico Eagle Mines Limited (AEM) | $211.31 Million | -3.62% | 0.87x | $90.48 Billion |
| Alamos Gold Inc (AGI) | $783.33 Million | -0.27% | 0.12x | $16.27 Billion |
| AIS Resources Ltd (AIS) | $4.69 Million | -71.34% | 0.07x | $1.76 Million |
| Alliance Mining Corp (ALM) | $-3.11 Million | 0.00% | 0.00x | $1.58 Million |
| Altamira Gold Corp (ALTA) | $15.01 Million | -10.64% | 0.03x | $38.60 Million |
| Almaden Minerals Ltd (AMM) | $45.22 Million | -8.90% | 0.05x | $24.82 Million |
About Pan American Silver Corp
Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala. The Silver segment includes the La Colorada, Juanicipio, Cerro Moro, Huaron, and San Vicente mines. The Gold segment comprises the Jacobina, El Peñon, Timmins, Shahuindo, Minera Florida, and Do… Read more