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Side-by-side financial comparison of Americas Gold & Silver Corp (USAS) and Valneva SE (VALN). Click either name above to swap in a different company.

Valneva SE is the larger business by last-quarter revenue ($36.2M vs $19.1M, roughly 1.9× Americas Gold & Silver Corp). Valneva SE runs the higher net margin — -54.1% vs -82.3%, a 28.2% gap on every dollar of revenue.

Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.

Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.

USAS vs VALN — Head-to-Head

Bigger by revenue
VALN
VALN
1.9× larger
VALN
$36.2M
$19.1M
USAS
Higher net margin
VALN
VALN
28.2% more per $
VALN
-54.1%
-82.3%
USAS

Income Statement — Q3 FY2025 vs Q1 FY2023

Metric
USAS
USAS
VALN
VALN
Revenue
$19.1M
$36.2M
Net Profit
$-15.7M
$-19.6M
Gross Margin
34.2%
38.9%
Operating Margin
-49.5%
Net Margin
-82.3%
-54.1%
Revenue YoY
-28.0%
Net Profit YoY
2.8%
EPS (diluted)

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
USAS
USAS
VALN
VALN
Q3 25
$19.1M
Q3 24
$26.5M
Q1 23
$36.2M
Q2 22
$93.2M
Net Profit
USAS
USAS
VALN
VALN
Q3 25
$-15.7M
Q3 24
$-16.2M
Q1 23
$-19.6M
Q2 22
Gross Margin
USAS
USAS
VALN
VALN
Q3 25
34.2%
Q3 24
23.6%
Q1 23
38.9%
Q2 22
Operating Margin
USAS
USAS
VALN
VALN
Q3 25
Q3 24
Q1 23
-49.5%
Q2 22
-161.3%
Net Margin
USAS
USAS
VALN
VALN
Q3 25
-82.3%
Q3 24
-60.9%
Q1 23
-54.1%
Q2 22

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
USAS
USAS
VALN
VALN
Cash + ST InvestmentsLiquidity on hand
$39.1M
$274.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$50.2M
$221.2M
Total Assets
$234.7M
$637.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
USAS
USAS
VALN
VALN
Q3 25
$39.1M
Q3 24
Q1 23
$274.8M
Q2 22
$363.1M
Stockholders' Equity
USAS
USAS
VALN
VALN
Q3 25
$50.2M
Q3 24
$53.1M
Q1 23
$221.2M
Q2 22
$100.7M
Total Assets
USAS
USAS
VALN
VALN
Q3 25
$234.7M
Q3 24
Q1 23
$637.2M
Q2 22
$783.1M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
USAS
USAS
VALN
VALN
Operating Cash FlowLast quarter
$-12.5M
$-26.3M
Free Cash FlowOCF − Capex
$-41.3M
FCF MarginFCF / Revenue
-216.5%
Capex IntensityCapex / Revenue
150.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
USAS
USAS
VALN
VALN
Q3 25
$-12.5M
Q3 24
$2.4M
Q1 23
$-26.3M
Q2 22
Free Cash Flow
USAS
USAS
VALN
VALN
Q3 25
$-41.3M
Q3 24
$-11.2M
Q1 23
Q2 22
FCF Margin
USAS
USAS
VALN
VALN
Q3 25
-216.5%
Q3 24
-42.2%
Q1 23
Q2 22
Capex Intensity
USAS
USAS
VALN
VALN
Q3 25
150.8%
Q3 24
51.2%
Q1 23
Q2 22

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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