What the finder actually computes.
Paste #003DA5 into the Pantone Color Finder and the first match is PANTONE 293 C with a Delta E of 0.0, labeled near identical, because #003DA5 is the commonly published screen value for 293 C. The next four follow in order: 661 C, 286 C, 2728 C and 7687 C, each with a Delta E between about 3 and 4.5. The tool ranks all 1,115 Solid Coated colors in its library this way and shows the five closest, each with HEX, RGB and a formula CMYK value.
Delta E, here the CIEDE2000 version, is a perceptual distance. Two colors can be close in raw RGB numbers yet look clearly different, and the reverse. Perceptual distance ranks candidates the way your eye would, which is the only ranking a brand reviewer will accept. The plain-language label next to each score tells you whether a difference would be visible side by side.
A second verifiable example: #C8102E comes back as PANTONE 186 C, a red used across many sports and retail identities, again at zero distance because that hex is its published equivalent. Sampled reds from photos will land near it with small positive distances, and the size of that number tells you how much explaining you'll owe the brand team. You can type the input as HEX, rgb(), hsl() or cmyk(), and a Browse section lets you search the library by code, such as 286 or Cool Gray, or by hex.