PAN American Silver Corp income statement

In fiscal 2025, PAN American Silver Corp reported revenue of $3.62bn, up 28.4% on the year before, operating income of $1.23bn (a 34.1% margin) and net income of $980m, or $2.56 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

PAN American Silver Corp: income statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	775	817	784	1,351	1,339	1,633	1,495	2,316	2,819	3,619
Cost of revenue	576	648	684	1,121	979	1,265	1,446	2,019	2,270	2,214
Gross profit	199	169	101	229	360	368	48	297	549	1,405
Operating income	184	188	43	127	210	321	−262	38	531	1,233
Interest expense	—	—	0	17	9	4	5	51	48	55
Income before tax	176	182	33	183	252	245	−301	−59	432	1,238
Income tax	74	59	21	71	76	146	39	46	319	258
Net income	102	123	12	111	176	99	−340	−105	113	980
Diluted EPS	$0.66	$0.79	$0.07	$0.55	$0.85	$0.46	−$1.62	−$0.32	$0.31	$2.56
Diluted shares (average)	153m	153m	154m	202m	210m	210m	211m	327m	363m	382m
EBITDA	300	311	190	381	464	624	54	522	1,102	1,730

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from PAN American Silver Corp's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to PAN American Silver Corp.