Filing Flows › PAN American Silver (PAAS) › FY2024
PAN American Silver (PAAS) FY2024 earnings results (fiscal 2024)
40-F filed Feb 19, 2025
PAN American Silver (PAAS) reported revenue of $2.8B for the fiscal 2024 (FY2024), +22% from a year earlier. Operating margin was 18.8%, net earnings $113M (4.0% of revenue).
PAN American Silver, FY2024: revenue $2.8B (+22% year over year), operating margin 18.8%, net earnings $113M, operating cash flow $724M. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.8B | — | +22% |
| Gross profit | $549M | — | +85% |
| Operating profit | $531M | — | 14× |
| Net earnings | $113M | — | — |
| Operating cash flow | $724M | — | +61% |
| Free cash flow | $401M | — | +463% |
What changed
Revenue was $2.8B in FY2024, up 22% year over year.
Gross margin was 19.5%, up 6.7 points from FY2023. Operating profit was $0.53B, a 18.8% margin (up 17.2 points year over year). Of the extra revenue versus FY2023, 98% reached operating profit, above the 2% margin then. Operating expenses fell 93% while revenue rose 22%. Net earnings were $0.11B. The effective tax rate was 73.8%.
Operating cash flow was $0.72B (up 61% year over year), 641% of net earnings. Non-cash charges added back $0.57B of depreciation and amortization and $400K of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.32B left free cash flow of $0.40B.
Questions
What was PAN American Silver's revenue in the fiscal 2024?
PAN American Silver (PAAS) reported revenue of $2.8B for the fiscal 2024 (FY2024), +22% from a year earlier.
Was PAN American Silver profitable in the fiscal 2024?
Operating profit was $531M (18.8% of revenue) and net earnings $113M.