# Pampa Energia (PAM.US)

Canonical: https://gigainvestors.com/s/PAM

Analysis as of: 2026-10-16T07:31:01.961Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $80.48 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Up 118% since Oct 2023

Story as of 2026-10-16T10:01:28.224Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in conglomerates; annual sales are USD 2 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1469395/000129281426002185/pamform20f_2025.htm (filed 2026-04-09); FY2025: revenue 1998000000; grossProfit 629000000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); PAM.US: Pampa Energía S.A. operates as an integrated power company in Argentina. The company operates through Oil and Gas; Generation; Petrochemicals; and Holding, Transportation and Others segments. It generates electricity through thermal plants, hydroelectric plants, and wind farms with a 5,472 megawatt (MW) installed capacity. The company also explores for and produces oil and gas in the provinces of Neuquén and Río Negro. In addition, it produces petrochemicals, such as styrene, synthetic rubber, and polystyrene. Further, the company operates and maintains a 22,445 km high-voltage electricity transmission network in Argentina. Additionally, it holds a concession for the transportation of natural gas with 9,248 km of gas pipelines in the center, west, and south of Argentina; and processes and sells natural gas liquids in Bahía Blanca in the Province of Buenos Aires, as well as offers related advisory services. Pampa Energía S.A. was formerly known as Pampa Holding S.A. and changed its name to Pampa Energía S.A. in September 2008. The company was incorporated in 1945 and is based in Buenos Aires, Argentina.

### Where the cash goes

Paid dividends in 2 of 2 years; bought back USD 54.3 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-09); FY2024: growth capex 0; upkeep 447000000; owner earnings 514000000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1469395/000129281426002185/pamform20f_2025.htm (filed 2026-04-09); FY2025: growth capex 187296407.39286304; upkeep 780484804.607137; owner earnings 10515195.392863035. Growth capex / owner earnings = 17.811975944829943.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-09); Dividend observations: [[2024,35904],[2025,1000000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1469395/000129281426002185/pamform20f_2025.htm (filed 2026-04-09); FY2025: cash repurchases 54259648 USD.

### Are managers owners

Insiders own 4.7% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); PAM.US SharesStats.PercentInsiders = 4.667000000000001 percentage points; cache date 2026-10-16.

### What the price says

The price is 2.2 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-09); Closing price 80.48 USD; reporting-to-trading FX 1; FY2025 annual sales per share 36.73861158204037; price multiple 2.190610818818819. FY2025 cash earnings/share 0.19335018981364138. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $34.07 per share

- 2016-11: $34.93 per share

- 2016-12: $34.81 per share

- 2017-01: $46.44 per share

- 2017-02: $45.77 per share

- 2017-03: $54.22 per share

- 2017-04: $54.54 per share

- 2017-05: $62.52 per share

- 2017-06: $58.85 per share

- 2017-07: $54.35 per share

- 2017-08: $61.01 per share

- 2017-09: $65.10 per share

- 2017-10: $67.83 per share

- 2017-11: $63.72 per share

- 2017-12: $67.28 per share

- 2018-01: $70.50 per share

- 2018-02: $63.33 per share

- 2018-03: $59.60 per share

- 2018-04: $57.04 per share

- 2018-05: $47.70 per share

- 2018-06: $35.77 per share

- 2018-07: $42.15 per share

- 2018-08: $30.44 per share

- 2018-09: $31.05 per share

- 2018-10: $33.11 per share

- 2018-11: $35.15 per share

- 2018-12: $31.81 per share

- 2019-01: $35.65 per share

- 2019-02: $31.86 per share

- 2019-03: $27.57 per share

- 2019-04: $20.95 per share

- 2019-05: $25.28 per share

- 2019-06: $34.67 per share

- 2019-07: $32.90 per share

- 2019-08: $12.98 per share

- 2019-09: $17.36 per share

- 2019-10: $15.57 per share

- 2019-11: $13.64 per share

- 2019-12: $16.43 per share

- 2020-01: $13.17 per share

- 2020-02: $11.85 per share

- 2020-03: $11.30 per share

- 2020-04: $10.32 per share

- 2020-05: $10.36 per share

- 2020-06: $10.49 per share

- 2020-07: $10.94 per share

- 2020-08: $11.49 per share

- 2020-09: $10.33 per share

- 2020-10: $11.80 per share

- 2020-11: $14.09 per share

- 2020-12: $13.78 per share

- 2021-01: $12.61 per share

- 2021-02: $13.33 per share

- 2021-03: $14.84 per share

- 2021-04: $13.42 per share

- 2021-05: $15.29 per share

- 2021-06: $15.17 per share

- 2021-07: $15.51 per share

- 2021-08: $18.21 per share

- 2021-09: $17.47 per share

- 2021-10: $18.33 per share

- 2021-11: $16.52 per share

- 2021-12: $21.11 per share

- 2022-01: $19.88 per share

- 2022-02: $20.95 per share

- 2022-03: $23.63 per share

- 2022-04: $21.57 per share

- 2022-05: $23.67 per share

- 2022-06: $20.48 per share

- 2022-07: $23.95 per share

- 2022-08: $24.39 per share

- 2022-09: $22.77 per share

- 2022-10: $25.17 per share

- 2022-11: $28.65 per share

- 2022-12: $31.94 per share

- 2023-01: $33.83 per share

- 2023-02: $32.99 per share

- 2023-03: $32.98 per share

- 2023-04: $34.14 per share

- 2023-05: $37.00 per share

- 2023-06: $43.32 per share

- 2023-07: $42.00 per share

- 2023-08: $45.56 per share

- 2023-09: $37.36 per share

- 2023-10: $36.88 per share

- 2023-11: $46.96 per share

- 2023-12: $49.52 per share

- 2024-01: $48.70 per share

- 2024-02: $42.02 per share

- 2024-03: $43.14 per share

- 2024-04: $44.37 per share

- 2024-05: $49.35 per share

- 2024-06: $44.26 per share

- 2024-07: $45.43 per share

- 2024-08: $54.42 per share

- 2024-09: $60.04 per share

- 2024-10: $66.93 per share

- 2024-11: $85.59 per share

- 2024-12: $87.94 per share

- 2025-01: $89.43 per share

- 2025-02: $76.81 per share

- 2025-03: $77.20 per share

- 2025-04: $70.99 per share

- 2025-05: $76.67 per share

- 2025-06: $69.38 per share

- 2025-07: $76.05 per share

- 2025-08: $67.53 per share

- 2025-09: $60.06 per share

- 2025-10: $85.80 per share

- 2025-11: $90.67 per share

- 2025-12: $88.51 per share

- 2026-01: $86.64 per share

- 2026-02: $77.78 per share

- 2026-03: $88.50 per share

- 2026-04: $82.87 per share

- 2026-05: $85.25 per share

- 2026-06: $82.13 per share

- 2026-07: $88.32 per share

- 2026-08: $82.32 per share

- 2026-09: $77.77 per share

- 2026-10: $80.34 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1469395/000129281426002185/pamform20f_2025.htm); period 2025-12-31, filed 2026-04-09.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations



# PAM — Pampa Energía S.A.

Held by 1 investor · USD 11,527,703 total · 2024 Q4 · reported price USD 87.94 (split-adjusted).
Page: https://gigainvestors.com/s/PAM

## Holders (2024 Q4)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Howard Marks (https://gigainvestors.com/oc) | USD 11,527,703 | 0.3% | reduce -35.67% |

## Total held by quarter

- 2018 Q3: USD 7,452,000 · 1 holder · USD 31.05
- 2018 Q4: USD 10,767,685 · 1 holder · USD 31.81
- 2019 Q1: USD 12,172,155 · 1 holder · USD 27.57
- 2019 Q2: USD 18,305,760 · 1 holder · USD 34.67
- 2019 Q3: USD 10,294,480 · 1 holder · USD 17.36
- 2019 Q4: USD 12,388,220 · 1 holder · USD 16.43
- 2020 Q1: USD 9,593,700 · 1 holder · USD 11.30
- 2020 Q2: USD 8,906,010 · 1 holder · USD 10.49
- 2020 Q3: USD 8,770,170 · 1 holder · USD 10.33
- 2020 Q4: USD 11,699,220 · 1 holder · USD 13.78
- 2021 Q1: USD 12,599,160 · 1 holder · USD 14.84
- 2021 Q2: USD 12,575,930 · 1 holder · USD 15.17
- 2021 Q3: USD 14,482,630 · 1 holder · USD 17.47
- 2021 Q4: USD 17,500,190 · 1 holder · USD 21.11
- 2022 Q1: USD 19,589,270 · 1 holder · USD 23.63
- 2022 Q2: USD 16,977,920 · 1 holder · USD 20.48
- 2022 Q3: USD 16,358,446 · 1 holder · USD 22.77
- 2022 Q4: USD 22,946,367 · 1 holder · USD 31.94
- 2023 Q1: USD 21,088,105 · 1 holder · USD 32.98
- 2023 Q2: USD 27,699,718 · 1 holder · USD 43.32
- 2023 Q3: USD 17,028,090 · 1 holder · USD 37.36
- 2023 Q4: USD 14,235,762 · 1 holder · USD 49.52
- 2024 Q1: USD 8,790,508 · 1 holder · USD 43.14
- 2024 Q2: USD 9,018,727 · 1 holder · USD 44.26
- 2024 Q3: USD 12,234,171 · 1 holder · USD 60.04
- 2024 Q4: USD 11,527,703 · 1 holder · USD 87.94
- 2025 Q1: USD 0 · 0 holders