PAAS Valuation

Pan American Silver Corp

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34.680

-0.53(-1.505%)1D

PAAS Relative Valuation

PAAS's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, PAAS is overvalued; if below, it's undervalued.

Historical Valuation

Pan American Silver Corp (PAAS) is now in the Overvalued zone, suggesting that its current forward PS ratio of 35.21 is considered Overvalued compared with the five-year average of 7.03. The fair price of Pan American Silver Corp (PAAS) is between 11.19 to 15.55 according to relative valuation methord. Compared to the current price of 34.72 USD , Pan American Silver Corp is Overvalued By 123.26%.

Relative Value

Fair Zone

11.19-15.55

Current Price：34.72

123.26%

Overvalued

12.37

Trailing

Forward

5.83

EV/EBITDA

Pan American Silver Corp. (PAAS) has a current EV/EBITDA of 5.83. The 5-year average EV/EBITDA is 6.93. The thresholds are as follows: Strongly Undervalued below 2.17, Undervalued between 2.17 and 4.55, Fairly Valued between 9.32 and 4.55, Overvalued between 9.32 and 11.70, and Strongly Overvalued above 11.70. The current Forward EV/EBITDA of 5.83 falls within the Historic Trend Line -Fairly Valued range.

9.81

EV/EBIT

Pan American Silver Corp. (PAAS) has a current EV/EBIT of 9.81. The 5-year average EV/EBIT is 4.83. The thresholds are as follows: Strongly Undervalued below -109.35, Undervalued between -109.35 and -52.26, Fairly Valued between 61.92 and -52.26, Overvalued between 61.92 and 119.01, and Strongly Overvalued above 119.01. The current Forward EV/EBIT of 9.81 falls within the Historic Trend Line -Fairly Valued range.

35.21

Pan American Silver Corp. (PAAS) has a current PS of 35.21. The 5-year average PS is 2.97. The thresholds are as follows: Strongly Undervalued below -2.56, Undervalued between -2.56 and 0.21, Fairly Valued between 5.74 and 0.21, Overvalued between 5.74 and 8.50, and Strongly Overvalued above 8.50. The current Forward PS of 35.21 falls within the Strongly Overvalued range.

10.23

P/OCF

Pan American Silver Corp. (PAAS) has a current P/OCF of 10.23. The 5-year average P/OCF is 9.29. The thresholds are as follows: Strongly Undervalued below 1.31, Undervalued between 1.31 and 5.30, Fairly Valued between 13.28 and 5.30, Overvalued between 13.28 and 17.26, and Strongly Overvalued above 17.26. The current Forward P/OCF of 10.23 falls within the Historic Trend Line -Fairly Valued range.

12.63

P/FCF

Pan American Silver Corp. (PAAS) has a current P/FCF of 12.63. The 5-year average P/FCF is 17.21. The thresholds are as follows: Strongly Undervalued below -16.67, Undervalued between -16.67 and 0.27, Fairly Valued between 34.15 and 0.27, Overvalued between 34.15 and 51.08, and Strongly Overvalued above 51.08. The current Forward P/FCF of 12.63 falls within the Historic Trend Line -Fairly Valued range.

Pan American Silver Corp (PAAS) has a current Price-to-Book (P/B) ratio of 2.57. Compared to its 3-year average P/B ratio of 1.74 , the current P/B ratio is approximately 47.46% higher. Relative to its 5-year average P/B ratio of 1.82, the current P/B ratio is about 41.12% higher. Pan American Silver Corp (PAAS) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 1.74%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of 2.01% , the current FCF yield is about -100.00% lower.

2.57

P/B

Median3y

1.74

Median5y

1.82

4.59

FCF Yield

Median3y

1.74

Median5y

2.01

Competitors Valuation Multiple

The average P/S ratio for PAAS's competitors is 48.22, providing a benchmark for relative valuation. Pan American Silver Corp Corp (PAAS) exhibits a P/S ratio of 35.21, which is -26.98% above the industry average. Given its robust revenue growth of 18.30%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

PAAS.N

Pan American Silver Corp

Compania de Minas Buenaventura SAA

Performance Decomposition

Market capitalization of PAAS increased by 57.85% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 2.47 to 24.45.

The secondary factor is the Revenue Growth, contributed 18.30%to the performance.

Overall, the performance of PAAS in the past 1 year is driven by P/E Change. Which is more unsustainable.

18.30%

686.30M → 811.90M

Revenue Growth

-848.40%

-3.12 → 23.35

Margin Expansion

887.95%

2.47 → 24.45

P/E Change

57.85%