EXK vs. PAAS

Last updated Apr 1, 2026

Compare and contrast key facts about Endeavour Silver Corp. (EXK) and Pan American Silver Corp. (PAAS).

Performance

EXK vs. PAAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Endeavour Silver Corp. (EXK) and Pan American Silver Corp. (PAAS). The values are adjusted to include any dividend payments, if applicable.

EXK vs. PAAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXK Endeavour Silver Corp.	-0.96%	156.83%	85.79%	-39.20%	-23.22%	-16.27%	109.13%	12.09%	-10.04%	-32.10%
PAAS Pan American Silver Corp.	5.72%	160.40%	26.61%	2.50%	-33.00%	-26.78%	46.88%	63.86%	-5.30%	3.86%

Fundamentals

Market Cap EXK : $2.74B PAAS : $23.06B
EPS EXK : -$0.41 PAAS : $2.54
PS Ratio EXK : 5.84 PAAS : 5.82
PB Ratio EXK : 4.75 PAAS : 3.30
Total Revenue (TTM) EXK : $462.15M PAAS : $3.64B
Gross Profit (TTM) EXK : $62.15M PAAS : $1.40B
EBITDA (TTM) EXK : $6.77M PAAS : $1.71B

Returns By Period

In the year-to-date period, EXK achieves a -0.96% return, which is significantly lower than PAAS's 5.72% return. Over the past 10 years, EXK has underperformed PAAS with an annualized return of 14.14%, while PAAS has yielded a comparatively higher 19.06% annualized return.

EXK

• 1D: 8.00%
• 1M: -33.02%
• YTD: -0.96%
• 6M: 18.75%
• 1Y: 118.03%
• 3Y*: 33.88%
• 5Y*: 12.35%
• 10Y*: 14.14%

PAAS

• 1D: 6.78%
• 1M: -20.27%
• YTD: 5.72%
• 6M: 41.96%
• 1Y: 114.60%
• 3Y*: 47.16%
• 5Y*: 13.99%
• 10Y*: 19.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

EXK vs. PAAS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EXK

EXK Risk / Return Rank: 83
EXK Sharpe Ratio Rank: 85
EXK Sortino Ratio Rank: 81
EXK Omega Ratio Rank: 78
EXK Calmar Ratio Rank: 85
EXK Martin Ratio Rank: 85

PAAS

PAAS Risk / Return Rank: 88
PAAS Sharpe Ratio Rank: 91
PAAS Sortino Ratio Rank: 84
PAAS Omega Ratio Rank: 86
PAAS Calmar Ratio Rank: 89
PAAS Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EXK vs. PAAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Endeavour Silver Corp. (EXK) and Pan American Silver Corp. (PAAS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EXK	PAAS	Difference
Sharpe ratio Return per unit of total volatility	1.53	2.00	-0.47
Sortino ratio Return per unit of downside risk	2.12	2.32	-0.19
Omega ratio Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio Return relative to maximum drawdown	2.76	3.57	-0.80
Martin ratio Return relative to average drawdown	7.70	11.55	-3.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXK vs. PAAS - Sharpe Ratio Comparison

The current EXK Sharpe Ratio is 1.53, which is comparable to the PAAS Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of EXK and PAAS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EXK	PAAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.00	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.30	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.38	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.17	-0.11

Correlation

The correlation between EXK and PAAS is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EXK vs. PAAS - Dividend Comparison

EXK has not paid dividends to shareholders, while PAAS's dividend yield for the trailing twelve months is around 0.99%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXK Endeavour Silver Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAAS Pan American Silver Corp.	0.99%	0.89%	1.98%	2.45%	2.75%	1.36%	0.64%	0.59%	0.96%	0.64%	0.33%	4.23%

Drawdowns

EXK vs. PAAS - Drawdown Comparison

The maximum EXK drawdown since its inception was -92.11%, which is greater than PAAS's maximum drawdown of -85.10%. Use the drawdown chart below to compare losses from any high point for EXK and PAAS.

Drawdown Indicators

	EXK	PAAS	Difference
Max Drawdown Largest peak-to-trough decline	-92.11%	-85.10%	-7.01%
Max Drawdown (1Y) Largest decline over 1 year	-41.64%	-31.90%	-9.74%
Max Drawdown (5Y) Largest decline over 5 years	-80.64%	-63.00%	-17.64%
Max Drawdown (10Y) Largest decline over 10 years	-81.13%	-66.74%	-14.39%
Current Drawdown Current decline from peak	-34.07%	-20.27%	-13.80%
Average Drawdown Average peak-to-trough decline	-58.44%	-41.79%	-16.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.94%	9.85%	+5.09%

Volatility

EXK vs. PAAS - Volatility Comparison

Endeavour Silver Corp. (EXK) has a higher volatility of 24.43% compared to Pan American Silver Corp. (PAAS) at 19.05%. This indicates that EXK's price experiences larger fluctuations and is considered to be riskier than PAAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXK	PAAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.43%	19.05%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	60.93%	45.40%	+15.53%
Volatility (1Y) Calculated over the trailing 1-year period	77.62%	57.58%	+20.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.26%	47.60%	+20.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.67%	49.68%	+19.99%

Financials

EXK vs. PAAS - Profitability Comparison

The chart below illustrates the profitability comparison between Endeavour Silver Corp. and Pan American Silver Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EXK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Endeavour Silver Corp. reported a gross profit of 39.14M and revenue of 174.30M. Therefore, the gross margin over that period was 22.5%.

PAAS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Pan American Silver Corp. reported a gross profit of 565.26M and revenue of 1.20B. Therefore, the gross margin over that period was 47.2%.

EXK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Endeavour Silver Corp. reported an operating income of 35.12M and revenue of 174.30M, resulting in an operating margin of 20.2%.

PAAS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Pan American Silver Corp. reported an operating income of 469.00M and revenue of 1.20B, resulting in an operating margin of 39.2%.

EXK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Endeavour Silver Corp. reported a net income of -24.15M and revenue of 174.30M, resulting in a net margin of -13.9%.

PAAS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Pan American Silver Corp. reported a net income of 458.44M and revenue of 1.20B, resulting in a net margin of 38.3%.