Filing Flows › PAN American Silver (PAAS) › Q2 2025 › vs Q2 2024
PAN American Silver (PAAS) Q2 2025 vs Q2 2024 (year over year)
PAN American Silver's revenue rose $126M (+18%) from $686M in Q2 2024 to $812M in Q2 2025. Operating margin 23.4% against -3.1% (+26.5 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 Q2 2024, the increases inside each band.
Margins
| Q2 2025 | Q2 2024 | Change | |
|---|---|---|---|
| Operating margin | 23.4% | -3.1% | +26.5 pts |
| Net margin | 23.4% | -3.1% | +26.5 pts |
Every line
| Line | Q2 2025 | Q2 2024 | Change | % |
|---|---|---|---|---|
| Revenue | $812M | $686M | $126M | +18% |
| Operating profit | $190M | −$21.4M | $211M | — |
| Costs & expenses | $622M | $708M | −$85.4M | -12% |
| Pre-tax earnings | $190M | −$21.4M | $211M | — |
| Cost of revenue | $539M | $569M | −$30.8M | -5% |
| Other operating costs | $83.7M | $138M | −$54.6M | -39% |
| Net earnings | $190M | −$21.4M | $211M | — |
| Working capital & other | $104M | $184M | −$80.3M | -44% |
| Operating cash flow | $293M | $163M | $131M | +80% |
Questions
How much did PAN American Silver's revenue grow year over year in Q2 2025?
PAN American Silver's revenue rose $126M (+18%) from $686M in Q2 2024 to $812M in Q2 2025. Operating margin 23.4% against -3.1% (+26.5 pts).