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NEWMONT vs Pan American Silver: revenue, profit, margins and growth compared

NEWMONT brought in $22.7B of revenue in fiscal 2025, Pan American Silver $3.6B in fiscal 2025. Revenue changed by +21.3% at NEWMONT and +28.4% at Pan American Silver on the year before, so Pan American Silver grew faster. NEWMONT kept 31.3% of its revenue as net profit, Pan American Silver 27.1%. Free cash flow was $7.3B at NEWMONT and $1B at Pan American Silver.

Side by side, latest fiscal year

NEMPAAS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$22.7B$3.6B
Revenue growth+21.3%+28.4%
Net income$7.1B$980M
Net margin31.3%27.1%
Free cash flow$7.3B$1B
Free cash flow margin32.2%28.2%
Earnings per share (diluted)$6.39$2.56
Cash$7.6B$1.2B
Debt$5.1B$714M
Price to earnings18.3n/a
Market value$122.9B$19B
Dividend yield0.86%n/a
Rank by revenue in sector#6 of 99 · Basic materials#18 of 99 · Basic materials

Over the years

Revenue
NEM FY2018: $7.3BNEM FY2019: $9.7BNEM FY2020: $11.5BNEM FY2021: $12.2BNEM FY2022: $11.9BNEM FY2023: $11.8BNEM FY2024: $18.7BNEM FY2025: $22.7BPAAS FY2018: $784.5MPAAS FY2019: $1.4BPAAS FY2020: $1.3BPAAS FY2021: $1.6BPAAS FY2022: $1.5BPAAS FY2023: $2.3BPAAS FY2024: $2.8BPAAS FY2025: $3.6BFY18FY19FY20FY21FY22FY23FY24FY25
NEM $22.7BPAAS $3.6B
Net income
NEM FY2018: $341MNEM FY2019: $2.8BNEM FY2020: $2.8BNEM FY2021: $1.2BNEM FY2022: -$429MNEM FY2023: -$2.5BNEM FY2024: $3.3BNEM FY2025: $7.1BPAAS FY2018: $12MPAAS FY2019: $111.2MPAAS FY2020: $176.5MPAAS FY2021: $98.6MPAAS FY2022: -$340.1MPAAS FY2023: -$104.9MPAAS FY2024: $113MPAAS FY2025: $980MFY18FY19FY20FY21FY22FY23FY24FY25
NEM $7.1BPAAS $980M
Net margin
NEM FY2018: 4.7%NEM FY2019: 28.8%NEM FY2020: 24.6%NEM FY2021: 9.5%NEM FY2022: -3.6%NEM FY2023: -21.1%NEM FY2024: 17.9%NEM FY2025: 31.3%PAAS FY2018: 1.5%PAAS FY2019: 8.2%PAAS FY2020: 13.2%PAAS FY2021: 6.0%PAAS FY2022: -22.8%PAAS FY2023: -4.5%PAAS FY2024: 4.0%PAAS FY2025: 27.1%FY18FY19FY20FY21FY22FY23FY24FY25
NEM 31.3%PAAS 27.1%
Revenue growth
NEM FY2019: +34.3%NEM FY2020: +18.0%NEM FY2021: +6.3%NEM FY2022: -2.5%NEM FY2023: -0.9%NEM FY2024: +58.2%NEM FY2025: +21.3%PAAS FY2019: +72.2%PAAS FY2020: -0.9%PAAS FY2021: +22.0%PAAS FY2022: -8.5%PAAS FY2023: +55.0%PAAS FY2024: +21.7%PAAS FY2025: +28.4%FY19FY20FY21FY22FY23FY24FY25
NEM +21.3%PAAS +28.4%
Free cash flow
NEM FY2018: $795MNEM FY2019: $1.4BNEM FY2020: $3.6BNEM FY2021: $2.6BNEM FY2022: $1.1BNEM FY2023: $97MNEM FY2024: $3BNEM FY2025: $7.3BPAAS FY2018: $10.6MPAAS FY2019: $76.2MPAAS FY2020: $283.8MPAAS FY2021: $148.6MPAAS FY2022: -$242.9MPAAS FY2023: $71.2MPAAS FY2024: $401MPAAS FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
NEM $7.3BPAAS $1B

Fiscal years as each company reports them; the two may end in different months.

Questions about NEWMONT and Pan American Silver

Which is bigger by revenue, NEWMONT or Pan American Silver?

NEWMONT is bigger by revenue: $22.7B in fiscal 2025, against $3.6B for Pan American Silver in fiscal 2025.

Which keeps more of its revenue as profit, NEWMONT or Pan American Silver?

NEWMONT had a net margin of 31.3% in fiscal 2025; Pan American Silver had 27.1% in fiscal 2025.

Which grew revenue faster, NEWMONT or Pan American Silver?

In their latest fiscal years revenue changed by +21.3% at NEWMONT and +28.4% at Pan American Silver.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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