Pan American Silver (PAAS) Operating Margin (2009 - 2026)
Pan American Silver (PAAS) recorded Operating Margin of 44.22% in the quarter ended Jun 30, 2026, up 44.19 percentage points from 0.03% a year earlier and up 44.16 percentage points from the prior quarter.
Pan American Silver (PAAS) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Pan American Silver's Operating Margin came in at 0.06% as of Jun 30, 2026, up 0.03 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 34.07%, up 15.23 percentage points from the prior year.
- Annual Operating Margin has increased for three straight years, with a five-year change of +18.39 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, Operating Margin came in at 18.84% in the year ended Dec 31, 2024 (+17.19 pp), 1.65% in the year ended Dec 31, 2023 (+19.19 pp), -17.55% in the year ended Dec 31, 2022 (-37.20 pp) and 19.65% in the year ended Dec 31, 2021 (+3.97 pp).
- The figure for the quarter ended Jun 30, 2026 is the highest quarterly Operating Margin since the quarter ended Sep 30, 2023.
- On a year-over-year basis, Operating Margin has increased for seven consecutive quarters, with an average year-over-year change of -6.95 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 115.01 percentage points in the quarter ended Sep 30, 2023, against a drop of 99.92 percentage points in the quarter ended Sep 30, 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 0.06% (quarter ended Mar 31, 2026), 0.04% (quarter ended Dec 31, 2025) and 0.03% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 179.45 Bn | 145.58 Bn | - | - |
| 2 | Southern Copper | 168.96 Bn | 147.82 Bn | 2.90 Bn | 61.16% |
| 3 | Newmont | 123.37 Bn | 91.54 Bn | 4.03 Bn | 16.48% |
| 4 | Ternium | 107.07 Bn | 72.12 Bn | 941.02 Mn | 12.17% |
| 5 | Freeport-Mcmoran | 101.67 Bn | 97.82 Bn | 2.19 Bn | 28.50% |
| 6 | Agnico Eagle Mines | 92.92 Bn | 92.92 Bn | 2.43 Bn | - |
| 7 | Barrick Mining | 69.09 Bn | 53.83 Bn | 2.90 Bn | 51.63% |
| 8 | Nucor | 53.61 Bn | 44.15 Bn | 2.03 Bn | 15.67% |
| 9 | ArcelorMittal | 51.72 Bn | 32.74 Bn | - | 6.29% |
| 10 | Pan American Silver | 19.47 Bn | 14.32 Bn | 457,000.00 | 44.22% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 44.22% |
| Mar 31, 2026 | 0.06% |
| Dec 31, 2025 | 0.04% |
| Sep 30, 2025 | 0.03% |
| Jun 30, 2025 | 0.03% |
| Mar 31, 2025 | 0.03% |
| Dec 31, 2024 | 0.03% |
| Sep 30, 2024 | 0.02% |
| Jun 30, 2024 | 0.01% |
| Mar 31, 2024 | 0.01% |
| Dec 31, 2023 | 0.00% |
| Sep 30, 2023 | 99.94% |
| Jun 30, 2023 | 0.00% |
| Mar 31, 2023 | 0.01% |
| Dec 31, 2022 | -0.01% |
| Sep 30, 2022 | -15.07% |
| Jun 30, 2022 | -0.05% |
| Mar 31, 2022 | 0.02% |
| Dec 31, 2021 | 12.48% |
| Sep 30, 2021 | 21.97% |
Pan American Silver Operating 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=operating-margin&ticker=PAAS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=PAAS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();