Pan American Silver Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,619	2,819	2,316	1,495	1,633
Revenue Growth (YoY)	28.38%	21.71%	54.95%	-8.46%	21.95%
Cost of Revenue	1,742	1,724	1,616	1,175	993.63
Gross Profit	1,877	1,095	700	319.3	639.12
Selling, General & Admin	116	70	61.4	29	34.85
Other Operating Expenses	99	84	57.1	22.3	7.92
Operating Expenses	728	735	649.4	459.8	356.8
Operating Income	1,149	360	50.6	-140.5	282.32
Interest Expense	-55	-48	-51.4	-5.3	-3.66
Interest & Investment Income	89	-	-	5.4	0.48
Earnings From Equity Investments	77	-	-	45	4.35
Currency Exchange Gain (Loss)	21	13	17.2	-2.3	-5.87
Other Non Operating Income (Expenses)	-3	-6	-5.8	-2.4	-5.07
EBT Excluding Unusual Items	1,278	319	10.6	-100.1	272.55
Merger & Restructuring Charges	-5	-7	-25.3	-157.4	-
Gain (Loss) on Sale of Investments	-	-14	-5.5	-16.2	-59.72
Gain (Loss) on Sale of Assets	-29	137	7.9	-2.4	32.17
Asset Writedown	-	-	-46.5	-24.9	-
Legal Settlements	-5	-3	-	-	-
Other Unusual Items	-1	-	-	-	-
Pretax Income	1,238	432	-58.8	-301	244.99
Income Tax Expense	258	319	46.1	39.1	146.43
Earnings From Continuing Operations	980	113	-104.9	-340.1	98.56
Minority Interest in Earnings	-2	-1	1.2	-1.6	-1.13
Net Income	978	112	-103.7	-341.7	97.43
Net Income to Common	978	112	-103.7	-341.7	97.43
Net Income Growth	773.21%	-	-	-	-45.23%
Shares Outstanding (Basic)	381	363	327	211	210
Shares Outstanding (Diluted)	382	363	327	211	210
Shares Change (YoY)	5.00%	11.29%	55.11%	0.04%	0.07%
EPS (Basic)	2.56	0.31	-0.32	-1.62	0.46
EPS (Diluted)	2.56	0.31	-0.32	-1.62	0.46
EPS Growth	730.54%	-	-	-	-45.67%
Free Cash Flow	1,019	401	71.2	-242.9	148.63
Free Cash Flow Per Share	2.67	1.10	0.22	-1.15	0.71
Dividend Per Share	0.460	0.400	0.400	0.440	0.340
Dividend Growth	15.00%	-	-9.09%	29.41%	54.55%
Gross Margin	51.87%	38.84%	30.22%	21.36%	39.14%
Operating Margin	31.75%	12.77%	2.19%	-9.40%	17.29%
Profit Margin	27.02%	3.97%	-4.48%	-22.86%	5.97%
Free Cash Flow Margin	28.16%	14.22%	3.07%	-16.25%	9.10%
EBITDA	1,628	917	561.9	264.5	592.75
EBITDA Margin	44.98%	32.53%	24.26%	17.70%	36.30%
D&A For EBITDA	479	557	511.3	405	310.43
EBIT	1,149	360	50.6	-140.5	282.32
EBIT Margin	31.75%	12.77%	2.19%	-9.40%	17.29%
Effective Tax Rate	20.84%	73.84%	-	-	59.77%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.