Pan American Silver annual operating expenses
2016
2018
2019
2020
2021
2022
2023
2024
2025
Pan American Silver Operating Expenses Growth & History (PAAS)
Pan American Silver's operating expenses was $172.0M for fiscal 2025.
View full Pan American Silver company overviewPan American Silver annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $172.0M | $154.0M | +855.56% |
| 2024 | 2024-12-31 | $18.0M | −$240.7M | −93.04% |
| 2023 | 2023-12-31 | $258.7M | −$52.0M | −16.74% |
| 2022 | 2022-12-31 | $310.7M | $263.7M | +560.68% |
| 2021 | 2021-12-31 | $47.0M | −$103.2M | −68.69% |
| 2020 | 2020-12-31 | $150.2M | $48.0M | +46.99% |
| 2019 | 2019-12-31 | $102.2M | $44.0M | +75.55% |
| 2018 | 2018-12-31 | $58.2M | — | — |
| 2016 | 2016-12-31 | $14.4M | — | — |
Pan American Silver quarterly operating expenses
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $30.0M | −$9.0M | −23.08% |
| Q1 2026 | 2026-03-31 | $48.0M | $11.0M | +29.73% |
| Q4 2025 | 2025-12-31 | $114.6M | — | — |
| Q3 2025 | 2025-09-30 | $62.7M | — | — |
| Q2 2025 | 2025-06-30 | $39.0M | — | — |
| Q1 2025 | 2025-03-31 | $37.0M | — | — |
Pan American Silver operating expenses trends
Over the last five fiscal years, Pan American Silver's operating expenses increased from $150.2M to $172.0M, a change of $21.8M. The latest reported quarter, Q2 2026, shows $30.0M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Pan American Silver source filings ↗