Pan American Silver (PAAS) Gross Margin (2009 - 2026)
Pan American Silver's Gross Margin was 40.66% in the quarter ended Jun 30, 2026, up 7.04 percentage points from 33.62% a year earlier and up 40.61 percentage points from the prior quarter.
Pan American Silver (PAAS) Gross Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Pan American Silver's Gross Margin was 27.66% through Jun 30, 2026, down 0.73 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 38.82%, up 19.35 percentage points from the prior year.
- Gross Margin has now increased for three consecutive years, with a five-year change of +11.92 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Gross Margin was 19.47% in the year ended Dec 31, 2024 (+6.66 pp), 12.81% in the year ended Dec 31, 2023 (+9.58 pp), 3.24% in the year ended Dec 31, 2022 (-19.30 pp) and 22.53% in the year ended Dec 31, 2021 (-4.37 pp).
- Quarterly Gross Margin has moved between -9.30% (the quarter ended Jun 30, 2022) and 117.63% (the quarter ended Sep 30, 2022) over five years.
- Compared with a year earlier, Gross Margin was higher in six of the last eight quarters, with an average year-over-year change of -1.62 percentage points.
- The best year-over-year quarter for Gross Margin over five years was the quarter ended Jun 30, 2023 (a gain of 109.23 percentage points); the worst was the quarter ended Jun 30, 2024 (a drop of 82.90 percentage points).
- Per Business Quant data, PAAS's Gross Margin in the three quarters before the quarter ended Jun 30, 2026 was 0.05% (quarter ended Mar 31, 2026), 48.18% (quarter ended Dec 31, 2025) and 36.63% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 181.90 Bn | 148.03 Bn | - | - |
| 2 | Southern Copper | 169.19 Bn | 148.06 Bn | 2.90 Bn | 67.60% |
| 3 | Newmont | 121.55 Bn | 89.73 Bn | 4.03 Bn | 65.87% |
| 4 | Ternium | 108.92 Bn | 73.97 Bn | 941.02 Mn | 21.68% |
| 5 | Freeport-Mcmoran | 100.46 Bn | 96.62 Bn | 2.19 Bn | 31.10% |
| 6 | Agnico Eagle Mines | 91.62 Bn | 91.62 Bn | 2.43 Bn | - |
| 7 | Barrick Mining | 68.12 Bn | 52.86 Bn | 2.90 Bn | 54.74% |
| 8 | Nucor | 53.04 Bn | 43.58 Bn | 2.03 Bn | 19.56% |
| 9 | ArcelorMittal | 50.74 Bn | 31.77 Bn | - | - |
| 10 | Pan American Silver | 19.20 Bn | 14.05 Bn | 457,000.00 | 40.66% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.66% |
| Mar 31, 2026 | 0.05% |
| Dec 31, 2025 | 48.18% |
| Sep 30, 2025 | 36.63% |
| Jun 30, 2025 | 33.62% |
| Mar 31, 2025 | 32.47% |
| Dec 31, 2024 | 22.70% |
| Sep 30, 2024 | 24.54% |
| Jun 30, 2024 | 17.03% |
| Mar 31, 2024 | 11.81% |
| Dec 31, 2023 | 9.69% |
| Sep 30, 2023 | 99.93% |
| Jun 30, 2023 | 99.94% |
| Mar 31, 2023 | 19.78% |
| Dec 31, 2022 | 3.24% |
| Sep 30, 2022 | 117.63% |
| Jun 30, 2022 | -9.30% |
| Mar 31, 2022 | 15.19% |
| Dec 31, 2021 | 18.01% |
| Sep 30, 2021 | 21.48% |
Pan American Silver Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=PAAS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "PAAS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=PAAS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();