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StocksMedium•2 March 2026•

1 min read

Pan American Silver Reports Record FY25 Earnings Amid Surging Silver Prices

Key Facts

1Pan American Silver reported 28.4% revenue growth and 78% EBITDA growth in FY25.

2Net income increased 8x driven by higher silver prices and strong operational leverage.

Pan American Silver (PAAS) delivered a record-breaking financial performance for fiscal year 2025, highlighted by a 28.4% surge in revenue. The company’s EBITDA grew by 78%, while net income saw a staggering eightfold increase compared to the previous period. This exceptional growth was primarily driven by higher silver prices and the company's significant operational leverage. Strategic developments, including the Juanicipio project, have played a crucial role in improving cost efficiency and production capacity. Looking ahead, the La Colorada Skarn project is expected to be a primary catalyst for long-term growth and market expansion. With a structurally tight silver market, PAAS remains well-positioned to capitalize on sustained bullish momentum in the commodities sector.