Pan American Silver Cash Flow 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
Net Income	980	113	-104.9	-340.1	98.56
Depreciation & Amortization	497	571	484.2	316	302.96
Other Adjustments	182	296	177.3	227.2	217.99
Changes in Other Operating Activities	-326	-256	-106.4	-171.3	-227.41
Operating Cash Flow	1,333	724	450.2	31.8	392.11
Operating Cash Flow Growth	84.12%	60.82%	1315.72%	-91.89%	-15.19%
Capital Expenditures	-314	-323	-379	-274.7	-243.48
Sale of Property, Plant & Equipment	5	3	3.8	8.7	45.8
Purchases of Investments	-	-	-	-	1.86
Proceeds from Sale of Investments	-31	2	144.8	0.7	-
Payments for Business Acquisitions	-410	-	259.5	-	-
Proceeds from Business Divestments	10	291	355	-	-
Other Investing Activities	34	-6	13.8	9.9	9.16
Investing Cash Flow	-706	-33	397.9	-255.4	-186.66
Long-Term Debt Issued	-	-	315	167.1	-
Long-Term Debt Repaid	-7	-7	-703.5	-5.2	-1.7
Net Long-Term Debt Issued (Repaid)	-7	-7	-388.5	161.9	-1.7
Issuance of Common Stock	3	1	-	0.9	0.62
Repurchase of Common Stock	-46	-24	-	-	-
Net Common Stock Issued (Repurchased)	-43	-23	-	0.9	0.62
Common Dividends Paid	-175	-145	-130.4	-94.7	-71.5
Other Financing Activities	-53	-50	-32.9	-15.1	-13.33
Financing Cash Flow	-278	-225	-551.8	53	-85.91
Effect of Exchange Rate Changes on Cash and Cash Equivalents	3	-3	-3.7	-6	-3.1
Net Cash Flow	352	463	292.6	-176.6	116.44
Free Cash Flow	1,019	401	71.2	-242.9	148.63
Free Cash Flow Growth	154.12%	463.20%	-	-	-47.62%
FCF Margin	28.16%	14.22%	3.07%	-16.25%	9.10%
Free Cash Flow Per Share	2.67	1.10	0.22	-1.15	0.71
Levered Free Cash Flow	828	97	-493.4	-309.8	-72.2
Unlevered Free Cash Flow	772.09	130.9	66.77	-477.22	-40.57

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.