Iamgold vs PAN American Silver
PAN American Silver is the larger business, with $3.62bn of revenue in fiscal 2025 against $2.85bn for Iamgold (1.3 times as much). Iamgold grew faster (74.7% against 28.4%). PAN American Silver kept more of each dollar of sales as profit: a net margin of 27.1% against 25.7%. PAN American Silver carries less debt relative to equity (10.2% against 15.5%).
| Latest fiscal year | IamgoldIAG, 2025 | PAN American SilverPAAS, 2025 |
|---|---|---|
| Revenue | $2.85bn | $3.62bn |
| Revenue growth | 74.7% | 28.4% |
| Net income | $732m | $980m |
| Operating margin | 38.3% | 34.1% |
| Net margin | 25.7% | 27.1% |
| Return on equity | 19.5% | 16.8% |
| Free cash flow | $849m | $1.02bn |
| Cash | $422m | $1.22bn |
| Total debt | $650m | $714m |
| Debt to equity | 15.5% | 10.2% |
| Dividend per share | — | — |
| Dividend yield | — | 1.2% |
| Share buybacks | $50.0m | $46.0m |
| Employees | — | — |
| Market value | $9.19bn | $14.56bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 4 sales | 0 buys, 0 sales |