Pan American Silver annual operating margin
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Pan American Silver Operating Margin Growth & History (PAAS)
Pan American Silver's operating margin was 34.07% for fiscal 2025.
View full Pan American Silver company overviewPan American Silver annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 34.07% | +15.23 pp |
| 2024 | 2024-12-31 | 18.84% | +17.19 pp |
| 2023 | 2023-12-31 | 1.65% | +19.19 pp |
| 2022 | 2022-12-31 | −17.55% | −37.20 pp |
| 2021 | 2021-12-31 | 19.65% | +3.97 pp |
| 2020 | 2020-12-31 | 15.68% | +6.27 pp |
| 2019 | 2019-12-31 | 9.41% | +3.97 pp |
| 2018 | 2018-12-31 | 5.44% | −17.61 pp |
| 2017 | 2017-12-31 | 23.06% | −0.75 pp |
| 2016 | 2016-12-31 | 23.81% | — |
Pan American Silver quarterly operating margin
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 37.99% | +9.17 pp |
| Q1 2026 | 2026-03-31 | 48.53% | +20.84 pp |
| Q4 2025 | 2025-12-31 | 38.44% | — |
| Q3 2025 | 2025-09-30 | 29.29% | — |
| Q2 2025 | 2025-06-30 | 28.82% | — |
| Q1 2025 | 2025-03-31 | 27.68% | — |
Pan American Silver operating margin trends
Over the last five fiscal years, Pan American Silver's operating margin increased from 15.68% to 34.07%, a change of +18.39 percentage points. The latest reported quarter, Q2 2026, shows 37.99%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Pan American Silver source filings ↗Community posts
Pan American Silver reports 511 million ounces of silver reserves
Pan American Silver ($PAAS) reported proven and probable reserves containing approximately 511.1 million ounces of silver and 6.3 million ounces of gold. The midyear estimate includes its 44% interest in Juanicipio, acquired through the ear ...
