PAAS vs. RGLD: Pan American Silver vs. Royal Gold Stock Comparison

November 11, 2026

How do Pan American Silver (PAAS) and Royal Gold (RGLD) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Pan American Silver (PAAS) and Royal Gold (RGLD) both belong to the Metals & Mining industry, though PAAS is classified under Silver while RGLD falls under Gold.

Company profile comparison for Pan American Silver (PAAS) and Royal Gold (RGLD)
Profile Item	PAAS	RGLD
Name	Pan American Silver Corp.	Royal Gold, Inc.
Country/Region	Canada	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Silver	Gold
Market Capitalization	16.98 billion USD	22.47 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	June 12, 1995	June 9, 1981
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PAAS

RGLD

GSPC

Pan American Silver (PAAS) vs. Royal Gold (RGLD), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Pan American Silver (PAAS) and Royal Gold (RGLD). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Pan American Silver (PAAS) and Royal Gold (RGLD). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Total Return (1Y)	22.43%	60.60%
Total Return (3Y, Annualized)	47.84%	39.65%
Total Return (5Y, Annualized)	11.59%	23.26%

Risk Profile

Drawdown History

PAAS

RGLD

GSPC

Pan American Silver (PAAS) vs. Royal Gold (RGLD), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Pan American Silver (PAAS) and Royal Gold (RGLD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Volatility (1Y, Annualized)	58.13%	41.91%
Beta (5Y)	0.72	0.39
Max Drawdown (5Y)	-57.39%	-40.73%
Avg. Volume (3M)	4.31M	667.01K

Risk-Adjusted Performance

Risk-Return Positioning

PAAS and RGLD are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Sharpe Ratio (1Y)	0.31	1.34
Sortino Ratio (1Y)	0.45	2.00

Profitability

ROE (TTM)

Pan American Silver (PAAS) at 22.39% sits in the top ROE quartile, while Royal Gold (RGLD) at 15.03% is closer to the peer norm — stronger capital efficiency for PAAS.

PAAS

Materials industry group

22.39%

Max: 52.88%
PAAS: 22.39%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

RGLD

Materials industry group

15.03%

Max: 52.88%
Q3: 19.49%
RGLD: 15.03%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Royal Gold (RGLD) at 47.99% keeps the most of each sales dollar — above its industry’s net margin range — and Pan American Silver (PAAS) at 35.16% also retains a top-quartile share.

PAAS

Materials industry group

35.16%

Max: 38.66%
PAAS: 35.16%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

RGLD

Materials industry group

47.99%

RGLD: 47.99%
Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Pan American Silver (PAAS) at 34.29% and Royal Gold (RGLD) at 65.85% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

PAAS

Materials industry group

34.29%

Max: 66.70%
PAAS: 34.29%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

RGLD

Materials industry group

65.85%

Max: 66.70%
RGLD: 65.85%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
ROE (TTM)	22.39%	15.03%
ROA (TTM)	11.27%	9.97%
Net Margin (TTM)	35.16%	47.99%
Operating Margin (TTM)	34.29%	65.85%
Gross Margin (TTM)	55.17%	86.63%

Growth

Revenue Growth

Royal Gold (RGLD) at 43.24% sits in the top revenue growth quartile, while Pan American Silver (PAAS) at 28.38% is closer to the peer norm — faster top-line expansion for RGLD.

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their Revenue Growth across different time periods.

EPS Growth

Pan American Silver (PAAS) at 725.81% clears its industry range for EPS growth, a much stronger earnings trajectory than Royal Gold (RGLD) at 32.74%, which is closer to a typical peer reading.

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Revenue Growth (YoY)	28.38%	43.24%
Revenue Growth (3Y CAGR)	34.28%	19.54%
EPS Growth (YoY)	725.81%	32.74%
EPS Growth (3Y CAGR)	--	22.60%

Financial Strength

Current Ratio (MRQ)

Both Pan American Silver (PAAS) at 2.72 and Royal Gold (RGLD) at 2.40 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

PAAS

Materials industry group

2.72

Max: 5.96
Q3: 3.30
PAAS: 2.72
Median: 2.24
Q1: 1.45
Min: 0.16

RGLD

Materials industry group

2.40

Max: 5.96
Q3: 3.30
RGLD: 2.40
Median: 2.24
Q1: 1.45
Min: 0.16

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both Pan American Silver (PAAS) at 0.11 and Royal Gold (RGLD) at 0.02 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

PAAS

Materials industry group

0.11

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
PAAS: 0.11
Min: 0.00

RGLD

Materials industry group

0.02

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
RGLD: 0.02
Min: 0.00

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Current Ratio (MRQ)	2.72	2.40
Debt / Equity (MRQ)	0.11	0.02
Net Debt / EBITDA	-0.39	-0.03

Dividends

Dividend Yield (TTM)

Both Pan American Silver (PAAS) at 1.69% and Royal Gold (RGLD) at 0.74% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

PAAS

Materials industry group

1.69%

Max: 4.52%
Q3: 1.85%
PAAS: 1.69%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

RGLD

Materials industry group

0.74%

Max: 4.52%
Q3: 1.85%
RGLD: 0.74%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Pan American Silver (PAAS) at 18.00% and Royal Gold (RGLD) at 19.41% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

PAAS

Materials industry group

18.00%

Max: 83.62%
Q3: 41.37%
PAAS: 18.00%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

RGLD

Materials industry group

19.41%

Max: 83.62%
Q3: 41.37%
RGLD: 19.41%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
Dividend Yield (TTM)	1.69%	0.74%
Dividend Payout Ratio (TTM)	18.00%	19.41%

Valuation

P/E Ratio (TTM)

Pan American Silver (PAAS) at 10.83 sits in the cheaper P/E ratio quartile, while Royal Gold (RGLD) at 27.15 is closer to its industry’s usual earnings multiple — a discount for PAAS, though growth and earnings durability still matter.

PAAS

Materials industry group

10.83

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
PAAS: 10.83
Min: 3.93

RGLD

Materials industry group

27.15

Max: 59.00
Q3: 32.93
RGLD: 27.15
Median: 18.82
Q1: 11.96
Min: 3.93

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Pan American Silver (PAAS) at 3.80 prices around its industry’s typical P/S ratio, while Royal Gold (RGLD) at 12.86 clears its benchmark range — RGLD looks notably rich on sales.

PAAS

Materials industry group

3.80

Max: 9.62
Q3: 4.34
PAAS: 3.80
Median: 1.87
Q1: 0.73
Min: 0.00

RGLD

Materials industry group

12.86

RGLD: 12.86
Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Pan American Silver (PAAS) at 2.29 and Royal Gold (RGLD) at 2.91 are valued close to their industries’ norm against book — neither stands out from peers.

PAAS

Materials industry group

2.29

Max: 6.59
Q3: 3.55
PAAS: 2.29
Median: 2.08
Q1: 1.26
Min: -0.17

RGLD

Materials industry group

2.91

Max: 6.59
Q3: 3.55
RGLD: 2.91
Median: 2.08
Q1: 1.26
Min: -0.17

Pan American Silver (PAAS) vs. Royal Gold (RGLD): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Pan American Silver (PAAS) and Royal Gold (RGLD)
Metric	PAAS	RGLD
P/E Ratio (TTM)	10.83	27.15
P/S Ratio (TTM)	3.80	12.86
P/B Ratio (MRQ)	2.29	2.91
Free Cash Flow Yield (TTM)	8.01%	4.24%