ValueScreener

ValueScreener company report

Pampa Energía S.A. (PAM)

NYSE / Utilities / Independent Power Producers

Share price

80.75 USD Market dataClose of Oct 14, 2026

Market capitalisation

4.39B USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2024, filed Apr 16, 2025
Ratios computed
Oct 14, 2026
Filed years
8, FY2017 to FY2024
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

18.8% Computed

From the FY2024 filing

Read quality

Valuation

Price to earnings

7.10x Computed

FY2024 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-0.3% Computed

FY2024 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 2.17B USDFY2017 Net income: 286.0M USDFY2018 Revenue: 1.44B USDFY2018 Net income: 224.0M USDFY2019 Revenue: 1.34B USDFY2019 Net income: 692.0M USDFY2020 Revenue: 1.07B USDFY2020 Net income: -367.0M USDFY2021 Revenue: 1.51B USDFY2021 Net income: 273.0M USDFY2022 Revenue: 1.83B USDFY2022 Net income: 456.0M USDFY2023 Revenue: 1.73B USDFY2023 Net income: 302.0M USDFY2024 Revenue: 1.88B USDFY2024 Net income: 619.0M USD
Revenue Net income8 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 7.10x at the close of 2026-10-14 on FY2024 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Utilities sector (87 companies), 7.10x sits at the 7th percentile; the middle half of that group runs from 15.80x to 24.66x.

Is it good

Return on equity was 18.8% in FY2024, in the band labelled "Strong" (15.0% to 25.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Utilities sector (101 companies), 18.8% sits at the 94th percentile; the middle half of that group runs from 3.9% to 10.5%.

Is it safe

Interest coverage was 2.38x in FY2024, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether Pampa Energía S.A.'s return on equity stayed above the median of the Utilities sector, year by year. (FY2021 to FY2024, 4 fiscal years of Pampa Energía S.A. with a comparable figure)
The direction
Which way Pampa Energía S.A.'s gross margin has moved, and how steadily. (FY2017 to FY2024, 8 filed years of Pampa Energía S.A.)
What could explain it
What in Pampa Energía S.A.'s filed statements could explain the movements. (7 readings drawn from the statement lines Pampa Energía S.A. filed)
What to check next
What to check next on Pampa Energía S.A., and where in its filings. (5 questions for Pampa Energía S.A.)
In one paragraph
One paragraph on Pampa Energía S.A.'s returns, cash, balance sheet and price. (12 of sixteen figures read for Pampa Energía S.A.)

These are PAM’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research PAMPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2024 annual report: 20-F, filed Apr 16, 2025, accession 0001292814-25-001504.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Pampa Energía S.A: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.

n/a ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Return on equity18.8% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Return on capital employed, pre-tax8.7% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Return on assets9.8% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Gross margin31.8% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Operating margin23.4% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Net margin33.0% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
PAM 33.0%
OTTR 21.2%AWR 19.8%BKH 12.6%IDA 18.5%CIG 17.9%
12.6%33.0%
Net margin: PAM against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Pampa Energía S.A: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.64 ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Current ratio1.83 ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Quick ratio1.66 ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Interest coverage2.38x ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Altman Z-score1.76 ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Net debt1.36B ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Total assets 6.34BTotal liabilities 3.05BShareholders' equity 3.29BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Pampa Energía S.A owned and owed at the end of fiscal 2024, from the balance sheet it filed (20-F, filed Apr 16, 2025, 0001292814-25-001504).

Pampa Energía S.A: balance sheet position
Total assets6.34B FiledFY2024 20-F, filed Apr 16, 2025
Total liabilities3.05B FiledFY2024 20-F, filed Apr 16, 2025
Shareholders' equity3.29B FiledFY2024 20-F, filed Apr 16, 2025
Cash738.0M FiledFY2024 20-F, filed Apr 16, 2025
Total debt2.09B FiledFY2024 20-F, filed Apr 16, 2025
Net debt1.36B
Current ratio1.83
Debt to equity0.64

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Pampa Energía S.A: what the market charges, each with its source
FigureValue, source and document
Price to earnings7.10x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.34x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Price to sales2.34x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Enterprise value to EBIT13.06x ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Diluted earnings per share
Why n/a

The FY2024 filing carries no diluted earnings per share we could read.

n/a FiledFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504

We publish no fair value or price target of our own. Value PAM on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Pampa Energía S.A today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Pampa Energía S.A: valuation
Share price80.75 USD
Market capitalisation4.39B USD
Enterprise value to EBITDAn/a
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Pampa Energía S.A

  1. Otter Tail Corporation (OTTR)Market cap 3.75B USD
  2. American States Water Company (AWR)Market cap 3.23B USD
  3. Black Hills Corporation (BKH)Market cap 5.83B USD
  4. IDACORP, Inc. (IDA)Market cap 7.92B USD
  5. Companhia Energética de Minas Gerais (CIG)Market cap 6.69B USD

Same sector (Utilities) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Pampa Energía S.A: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield-0.3% ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Free cash flow-12.0M USD ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Free cash flow margin-0.6% ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
FY2017 Free cash flow: -46.0M USDFY2017 Net income: 286.0M USDFY2018 Free cash flow: 155.0M USDFY2018 Net income: 224.0M USDFY2019 Free cash flow: 376.0M USDFY2019 Net income: 692.0M USDFY2020 Free cash flow: 569.0M USDFY2020 Net income: -367.0M USDFY2021 Free cash flow: 523.0M USDFY2021 Net income: 273.0M USDFY2022 Free cash flow: 203.0M USDFY2022 Net income: 456.0M USDFY2023 Free cash flow: -183.0M USDFY2023 Net income: 302.0M USDFY2024 Free cash flow: -12.0M USDFY2024 Net income: 619.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Pampa Energía S.A.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
7.10xFY2024Oct 14, 2026
1.34xFY2024Oct 14, 2026
13.06xFY2024Oct 14, 2026
-0.3%FY2024Oct 14, 2026
n/aFY2024Apr 16, 2025
n/a No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.
n/aFY2024Oct 14, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.64FY2024Apr 16, 2025
1.83FY2024Apr 16, 2025
2.34xFY2024Oct 14, 2026
n/aFY2024Oct 14, 2026
n/a The filed income statement reports no earnings per share.
1.76FY2024Oct 14, 2026
-2.52FY2024Apr 16, 2025
4/9FY2024Apr 16, 2025

The figures are computed from the accounts for fiscal 2024, the newest full year on file. 8 filed fiscal years on record, FY2017 to FY2024, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

8 filed fiscal years, FY2017 to FY2024, read from the annual reports Pampa Energía S.A filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Pampa Energía S.A: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20241.88B440.0M619.0Mn/a-12.0M23.4%18.8%20-F, Apr 16, 20250001292814-25-001504
FY20231.73B424.0M302.0Mn/a-183.0M24.5%12.6%20-F, Apr 30, 20240001292814-24-001730
FY20221.83B631.0M456.0Mn/a203.0M34.5%20.0%20-F, Apr 28, 20230001292814-23-001936
FY20211.51B579.0M273.0Mn/a523.0M38.4%15.3%20-F, Apr 29, 20220001292814-22-001955
FY20201.07B243.0M-367.0Mn/a569.0M22.6%-25.7%20-F, Apr 30, 20210001292814-21-001956
FY20191.34B462.0M692.0Mn/a376.0M34.5%36.1%20-F, Apr 30, 20200001292814-20-001571
FY20181.44B618.0M224.0Mn/a155.0M43.0%16.4%20-F, Apr 30, 20190001292814-19-001636
FY20172.17B368.0M286.0Mn/a-46.0M16.9%n/a20-F, May 29, 20180001292814-18-001932
  • Revenue, compound annual growth FY2017 to FY2024: -2.1%
  • Earnings, compound annual growth FY2017 to FY2024: 11.7%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Free cash flow was not positive in both 2017 and 2024, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Pampa Energía S.A: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.52 ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Piotroski F-score4/9 ComputedFY2024 20-F, filed Apr 16, 2025, 0001292814-25-001504
Named tests met1 of 30 Computed
Beta0.26 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 1 met, 24 not met, 5 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Cheapest quarter on P/E (David Dreman)
Does not
Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
Defensive investor (Benjamin Graham); ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend; Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(14)
  • Current Ratio: Graham set this test for industrial companies; for utilities he tested debt against equity.
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • Return on Invested Capital: No tax rate can be read for this year: the income tax or the pre-tax income line is not filed, or pre-tax income is zero, so after-tax operating profit is not computed.
  • Altman Z-Score: Altman fitted the Z-score on manufacturers; it is not measured for a utility.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 14 figures could not be read on this company, among them Current Ratio, Positive Earnings Streak, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 5 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 8 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolioHow this is computed

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

Site map

Apps

  • Android app coming soon
  • iPhone app coming soon
ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.

With your permission, Google Analytics, Microsoft Clarity and HubSpot set cookies to measure how this site and the product are used, including recordings of sessions. Nothing is set unless you allow it. Privacy policy