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Barrick Mining vs PAN American Silver: B and PAAS compared
Barrick Mining is the larger company: $3.7B of revenue in its latest quarter (Q2 2025) against $3.6B for PAN American Silver (FY2025). PAN American Silver is growing faster (+28% against +16% a year earlier). Barrick Mining is more profitable, with an operating margin of 38.5% against 34.1%.
Where the money goes: B and PAAS
Barrick Mining (B) · Q2 2025
Barrick Mining, Q2 2025: revenue $3.7B (+16% year over year), operating margin 38.5%, net earnings $811M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
PAN American Silver (PAAS) · FY2025
PAN American Silver, FY2025: revenue $3.6B (+28% year over year), operating margin 34.1%, net earnings $980M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| Barrick Mining (B) | PAN American Silver (PAAS) | |
|---|---|---|
| Latest quarter | Q2 2025 | FY2025 |
| Revenue | $3.7B | $3.6B |
| Revenue growth, Y/Y | +16% | +28% |
| Gross margin | — | 38.8% |
| Operating margin | 38.5% | 34.1% |
| Net earnings | $811M | $980M |
| Net margin | 22.0% | 27.1% |
| Operating cash flow | $1.3B | $1.3B |
| Free cash flow | $395M | $1.0B |
| Market value | $67.6B | — |
| P/E | 9.4× | — |
| Analysts’ mean target | $50.11 | — |
Where the revenue comes from
Barrick Mining
- Carlin 2: $898M (24%)
- Other Mines 2: $610M (17%)
- Cortez 2: $579M (16%)
- Pueblo Viejo 2: $517M (14%)
Questions
Which is bigger, Barrick Mining or PAN American Silver?
Barrick Mining is the larger company: $3.7B of revenue in its latest quarter (Q2 2025) against $3.6B for PAN American Silver (FY2025).
Is Barrick Mining or PAN American Silver growing faster?
PAN American Silver is growing faster (+28% against +16% a year earlier).
Which is more profitable, Barrick Mining or PAN American Silver?
Barrick Mining is more profitable, with an operating margin of 38.5% against 34.1%.
More: Barrick Mining earnings · how Barrick Mining makes money · PAN American Silver earnings · how PAN American Silver makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Aug 11, 2025; 40-F filed Feb 18, 2026). Fiscal quarters can end on different dates. Not investment advice.