Pan American SilverXSWX:PAAS 80 Return-on-Tangible-Asset is 18.29% as of Mar. 2026, which is 432% above its 10-year median of 3.44. GuruFocus rates XSWX:PAAS with a GF Score™ of 80/100 and a GF Value™ of CHF15.66. The stock has 3 warning signs investors should review. Among 2,657 Metals & Mining companies, Pan American Silver ranks better than 91.8% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Pan American Silver's annualizedNet Income for the quarter that ended in Mar. 2026 was CHF1,439 Mil. Pan American Silver's average total tangible assets for the quarter that ended in Mar. 2026 was CHF7,870 Mil. Therefore, Pan American Silver's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 18.29%.
The historical rank and industry rank for Pan American Silver's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:PAAS'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -10.42 Med: 3.44 Max: 14.42
Current: 14.42
During the past 13 years, Pan American Silver's highest Return-on-Tangible-Asset was 14.42%. The lowest was -10.42%. And the median was 3.44%.
XSWX:PAAS's Return-on-Tangible-Asset is ranked better than 91.8% of 2657
companies
in the Metals & Mining industry
Industry Median: -17.41
vs XSWX:PAAS: 14.42
Pan American Silver (XSWX:PAAS) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Pan American Silver Return-on-Tangible-Asset Related Terms
Pan American Silver Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Pan American Silver's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Pan American Silver Return-on-Tangible-Asset Chart
XSWX:PAAS vs NEM, AU: Return-on-Tangible-Asset Comparison
For the Gold subindustry, Pan American Silver's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Pan American Silver Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Pan American Silver's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Pan American Silver's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 18.29% mean?
Pan American Silver (XSWX:PAAS) has a Return-on-Tangible-Asset of 18.29% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Pan American Silver and its competitors. This is 432% above median its historical median of 3.44. According to the industry distribution chart, Pan American Silver ranks #218 out of 2657 companies in the Metals & Mining industry, placing it in the top 8.2%.
Is Pan American Silver's Return-on-Tangible-Asset too high?
Pan American Silver's current Return-on-Tangible-Asset of 18.29% is 432% above median its 10-year median of 3.44. Based on the distribution chart, Pan American Silver ranks #218 out of 2657 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Pan American Silver has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Pan American Silver's Return-on-Tangible-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Pan American Silver ranks #218 out of 2657 companies for Return-on-Tangible-Asset. This places Pan American Silver in the top 8% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Pan American Silver and its competitors. Pan American Silver's current Return-on-Tangible-Asset is 18.29%, which is 432% above median its own 10-year median of 3.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan American Silver stock overvalued right now?
Pan American Silver (XSWX:PAAS) has a current Return-on-Tangible-Asset of 18.29%. The stock's GF Value™ is CHF15.66, compared to a current price of CHF37.73 — trading 140.9% above its estimated fair value. The current Return-on-Tangible-Asset is 18.29%, which is 432% above median its 10-year median of 3.44. Pan American Silver's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Pan American Silver (XSWX:PAAS), the current Return-on-Tangible-Asset is 18.29% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pan American Silver (XSWX:PAAS) Overvalued in 2026?
Based on GuruFocus' analysis, Pan American Silver stock appears to be overvalued.
The current stock price of CHF37.73 is trading 140.9% above its estimated GF Value™ of CHF15.66.
Key valuation signals for XSWX:PAAS:
Return-on-Tangible-Asset: 18.29% (432% above median its 10-year median of 3.44)
GF Value™: CHF15.66 vs. price of CHF37.73 (140.9% above fair value)
No single metric tells the full story. See the XSWX:PAAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pan American Silver Corp is a mining company principally engaged in the operation and development of, and exploration for, silver and gold-producing properties and assets. The company's principal products are silver and gold, although it also produces and sells zinc, lead, and copper. Its operating mines comprise La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, and San Vicente mines.
80GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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