Pan American Silver Corp.

SWX:PAAS Stock Report

Market Cap: CHF 15.2b

Pan American Silver Valuation

Is PAAS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of PAAS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: PAAS (CHF37.05) is trading below our estimate of future cash flow value (CHF56.12)

Significantly Below Future Cash Flow Value: PAAS is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PAAS?

Key metric: As PAAS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PAAS. This is calculated by dividing PAAS's market cap by their current earnings.
What is PAAS's PE Ratio?
PE Ratio15.4x
EarningsUS$1.27b
Market CapUS$18.89b

Price to Earnings Ratio vs Peers

How does PAAS's PE Ratio compare to its peers?

The above table shows the PE ratio for PAAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.3x
EMSN EMS-CHEMIE HOLDING
34.8x5.04%CHF 16.3b
AMRZ Amrize
25.7x15.17%CHF 23.9b
SIKA Sika
26.5x9.44%CHF 27.7b
GIVN Givaudan
30.2x5.71%CHF 32.3b
PAAS Pan American Silver
15.4x4.09%CHF 26.8b

Price-To-Earnings vs Peers: PAAS is good value based on its Price-To-Earnings Ratio (15.4x) compared to the peer average (29.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does PAAS's PE Ratio compare vs other companies in the European Metals and Mining Industry?

17 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PAAS 15.4xIndustry Avg. 16.8xNo. of Companies17PE01020304050+
17 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PAAS is good value based on its Price-To-Earnings Ratio (15.4x) compared to the European Metals and Mining industry average (16.6x).

Price to Earnings Ratio vs Fair Ratio

What is PAAS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PAAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PAAS's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PAAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 37.05
CHF 55.28
+49.21%
21.77%CHF 67.31CHF 43.24n/a2
Jun ’27n/a
CHF 57.20
0%
15.35%CHF 65.98CHF 48.42n/a2
May ’27n/a
CHF 57.61
0%
15.24%CHF 66.39CHF 48.83n/a2
Apr ’27n/a
CHF 53.05
0%
25.40%CHF 66.53CHF 39.58n/a2
Mar ’27n/a
CHF 55.12
0%
12.90%CHF 62.23CHF 48.01n/a2
Feb ’27n/a
CHF 47.47
0%
1.44%CHF 48.15CHF 46.78n/a2
Jan ’27n/a
CHF 42.21
0%
13.96%CHF 48.10CHF 36.31n/a2
Dec ’26n/a
CHF 37.67
0%
9.75%CHF 41.34CHF 34.00n/a2
Nov ’26n/a
CHF 37.71
0%
9.60%CHF 41.33CHF 34.09n/a2
Oct ’26n/a
CHF 36.14
0%
5.12%CHF 37.99CHF 34.29n/a2
May ’26n/a
CHF 27.14
0%
16.22%CHF 31.55CHF 22.74n/a2
Mar ’26n/a
CHF 23.93
0%
17.96%CHF 28.23CHF 19.64n/a2
Feb ’26n/a
CHF 24.26
0%
17.39%CHF 28.48CHF 20.05n/a2
Jan ’26n/a
CHF 23.51
0%
17.36%CHF 27.59CHF 19.43n/a2
Dec ’25n/a
CHF 23.70
0%
18.11%CHF 27.99CHF 19.40n/a2
Nov ’25n/a
CHF 22.28
0%
14.52%CHF 25.52CHF 19.05n/a2
Oct ’25n/a
CHF 22.20
0%
15.64%CHF 25.67CHF 18.73n/a2
Sep ’25n/a
CHF 22.42
0%
15.15%CHF 25.81CHF 19.02n/a2
Aug ’25n/a
CHF 22.95
0%
15.31%CHF 26.46CHF 19.44n/a2
Jul ’25n/a
CHF 21.26
0%
8.50%CHF 23.07CHF 19.45n/a2
CHF 54.74
Fair Value
32.3% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/02 06:38
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Pan American Silver Corp. is covered by 23 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew MurphyBMO Capital Markets Equity Research
Kevin O'HalloranBMO Capital Markets Equity Research
Lawson WinderBofA Global Research