Filing Flows › PAN American Silver (PAAS) › Q2 2025 › vs Q1 2025
PAN American Silver (PAAS) Q2 2025 vs Q1 2025 (quarter over quarter)
PAN American Silver's revenue rose $38.7M (+5%) from $773M in Q1 2025 to $812M in Q2 2025. Operating margin 23.4% against 21.9% (+1.5 pts).
PAN American Silver, Q2 2025: revenue $812M (+18% year over year), operating margin 23.4%, net earnings $190M, operating cash flow $293M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q2 2025 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 23.4% | 21.9% | +1.5 pts |
| Net margin | 23.4% | 21.9% | +1.5 pts |
Every line
| Line | Q2 2025 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $812M | $773M | $38.7M | +5% |
| Operating profit | $190M | $169M | $20.3M | +12% |
| Costs & expenses | $622M | $604M | $18.4M | +3% |
| Pre-tax earnings | $190M | $169M | $20.3M | +12% |
| Cost of revenue | $539M | $522M | $16.2M | +3% |
| Other operating costs | $83.7M | $81.5M | $2.2M | +3% |
| Net earnings | $190M | $169M | $20.3M | +12% |
| Working capital & other | $104M | $5.5M | $98.3M | 19× |
| Operating cash flow | $293M | $175M | $119M | +68% |
Questions
How much did PAN American Silver's revenue grow quarter over quarter in Q2 2025?
PAN American Silver's revenue rose $38.7M (+5%) from $773M in Q1 2025 to $812M in Q2 2025. Operating margin 23.4% against 21.9% (+1.5 pts).