Pampa Energía S.A. (PAM) 10-Year Financial Performance & Capital Metrics

PAM • • Utilities

UtilitiesIndependent PowerDiversified Energy HoldingsDiversified Global Holdings

AboutPampa Energía S.A., an integrated power company, engages in the generation and transmission of electricity in Argentina. The company operates through Electricity Generation, Oil and Gas, Petrochemicals, and Holding and Other Business segments. It generates electricity through combined thermal generation plants, open-cycle gas turbines, and hydroelectric power generation systems, as well as through a wind farm. The company has an installed electricity generation capacity of approximately 4,970 megawatts; and 21,414 kilometers of high voltage electricity transmission network in Argentina. It is also involved in the exploration and production of oil and gas. In addition, the company offers petrochemicals, such as styrene, synthetic rubber, and polystyrene. As of December 31, 2020, it had approximately 12.625 thousands of barrels of oil and LNG, as well as 24.537 millions of cubic meters of natural gas; owned a refinery with an installed capacity of approximately 25.8 thousand barrels per day; and operated a network of 92 gas stations. The company was formerly known as Pampa Holding S.A. and changed its name to Pampa Energía S.A. in September 2008. Pampa Energía S.A. was incorporated in 1945 and is based in Buenos Aires, Argentina.Show more

Revenue $1.88B +8.3%
EBITDA $782M +13.2%
Net Income $619M +105.0%
Free Cash Flow -$12M +93.4%
EBITDA Margin 41.68% +4.5%
Net Margin 33% +89.2%
ROE 21.69% +68.7%
Interest Coverage 2.44 +105.2%
Debt/Equity 0.64 +4.6%
Net Debt/EBITDA 1.73 -7.5%
CapEx / Revenue 23.83% -45.6%
CapEx Coverage 0.97 +28.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Good 3Y average ROE of 19.0%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.15%

5Y6.96%

3Y7.55%

TTM-6.14%

Profit (Net Income) CAGR

10Y21.7%

5Y-2.2%

3Y31.37%

TTM-20.6%

EPS CAGR

10Y21.93%

5Y7.78%

3Y25.3%

TTM7.41%

ROCE

10Y Avg11.14%

5Y Avg11.21%

3Y Avg12.09%

Latest9.52%

Peer Comparison

Diversified Global Holdings

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PAMPampa Energía S.A.	4.24B	78.84	6.96	8.31%	18.36%	10.79%		0.64
KENKenon Holdings Ltd.	3.61B	69.17	6.10	8.6%	63.8%	19.06%		0.48

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	548.81M	1.58B	4.41B	1.44B	1.34B	1.07B	1.51B	1.83B	1.73B	1.88B
Revenue Growth %	-0.23%	1.89%	1.78%	-0.67%	-0.07%	-0.2%	0.41%	0.21%	-0.05%	0.08%
Cost of Revenue	543.79M	1.27B	3.19B	833M	811M	663M	951M	1.14B	1.11B	1.28B
Gross Profit+	5.02M	313.36M	1.21B	603M	529M	410M	557M	690M	625M	597M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.75%	61.42%	2.87%	-0.5%	-0.12%	-0.22%	0.36%	0.24%	-0.09%	-0.04%
Operating Expenses+	407.4M	199.66M	66.4M	447M	67M	167M	-22M	59M	201M	157M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	335.5M	297.85M	1.1B	601M	648M	448M	784M	843M	691M	782M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	1.15%	-0.11%	2.69%	-0.45%	0.08%	-0.31%	0.75%	0.08%	-0.18%	0.13%
Depreciation & Amortization+	57.07M	138.8M	415.76M	165M	186M	205M	205M	212M	267M	342M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	278.42M	159.05M	682.12M	436M	462M	243M	579M	631M	424M	440M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.74%	-0.43%	3.29%	-0.36%	0.06%	-0.47%	1.38%	0.09%	-0.33%	0.04%
Interest Expense+	93.27M	149M	199.03M	97M	186.53M	170M	178M	216M	356M	180M
Interest Coverage	2.99x	1.07x	3.43x	4.49x	2.48x	1.43x	3.25x	2.92x	1.19x	2.44x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	1000K	-1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K
Pretax Income+	342.6M	-96.17M	814.28M	59M	473M	159M	390M	581M	623M	498M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	45.34M	-75.74M	-52.92M	-32M	-130M	35M	77M	124M	318M	-121M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	236.72M	-5.23M	681.85M	28M	692M	-367M	273M	456M	302M	619M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.72%	-1.02%	131.27%	-0.96%	23.71%	-1.53%	1.74%	0.67%	-0.34%	1.05%
EPS (Diluted)+	6.14	-0.01	3.53	2.50	7.79	2.24	5.76	8.98	2.14	11.33
EPS Growth %	2.94%	-1%	330.91%	-0.29%	2.12%	-0.71%	1.57%	0.56%	-0.76%	4.29%
EPS (Basic)	6.14	-0.01	3.53	2.50	7.79	2.24	5.76	8.98	2.14	11.33
Diluted Shares Outstanding	53.87M	69.44M	78.84M	78.36M	71.96M	62.88M	56.2M	55.24M	54.64M	54.4M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	2.25B	4.87B	11.46B	5.68B	5.69B	4.9B	3.86B	4.74B	4.72B	6.34B
Asset Growth %	0.14%	1.16%	1.35%	-0.5%	0%	-0.14%	-0.21%	0.23%	-0%	0.34%
PP&E (Net)+	1.06B	2.54B	5.94B	3.3B	3.52B	1.62B	1.67B	2.17B	2.56B	2.62B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	749.07M	1.46B	3.96B	1.52B	1.36B	949.08M	1.13B	1.34B	1.34B	2.38B
Cash & Equivalents	39.93M	89.61M	63.34M	241.62M	225.41M	141.55M	110M	106M	171M	738M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	17.38M	211.89M	229.18M	137.29M	153.41M	116.16M	147M	165M	201M	217M
Other Current Assets	173.62M	324.9M	1.53B	173.84M	3.57M	11.89K	0	0	0	1M
Long-Term Investments	225.9M	333.61M	653.33M	418.46M	614.77M	698.75M	908M	1.03B	707M	1.02B
Goodwill	386.16K	63M	70.32M	34.77M	0	0	35M	35M	35M	35M
Intangible Assets	56.3M	69.62M	271.03M	126.72M	151.45M	41.1M	3M	103M	61M	60M
Other Assets	161.26M	409.91M	562.05M	275.06M	5.09M	1.48B	35M	22M	18M	75M
Total Liabilities	1.6B	3.99B	7.47B	3.88B	3.28B	3.12B	2.07B	2.46B	2.31B	3.05B
Total Debt+	702.27M	1.72B	3.56B	2.24B	1.96B	1.63B	1.45B	1.63B	1.47B	2.09B
Net Debt	662.34M	1.63B	3.49B	2B	1.74B	1.49B	1.34B	1.52B	1.29B	1.36B
Long-Term Debt	516.15M	952.17M	2.85B	1.9B	1.76B	1.37B	1.36B	1.34B	1.22B	1.37B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	11.96M	10.13M	13M	10M	18M	15M
Total Current Liabilities+	740.04M	1.9B	2.56B	1.18B	853.68M	448.84M	342M	631M	521M	1.3B
Accounts Payable	377.22M	523.8M	1.28B	430.22M	377.5M	97.78M	169M	281M	210M	233M
Accrued Expenses	111.45M	301.95M	378.48M	139.92M	48.8M	26.56M	0	0	0	0
Deferred Revenue	0	0	0	0	6.13M	2.19M	4M	3M	9M	0
Other Current Liabilities	76.61M	203.51M	423.93M	129.96M	181.03M	67.48M	36M	34M	27M	62M
Deferred Taxes	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	347.6M	1.14B	2.05B	798.8M	273.43M	1.29B	172M	186M	198M	239M
Total Equity+	647.28M	887.56M	3.99B	1.8B	2.41B	1.77B	1.79B	2.28B	2.41B	3.29B
Equity Growth %	0.56%	0.37%	3.5%	-0.55%	0.34%	-0.27%	0.01%	0.28%	0.06%	0.37%
Shareholders Equity	539.85M	697.11M	3.03B	1.37B	1.92B	1.43B	1.78B	2.28B	2.4B	3.29B
Minority Interest	107.43M	190.45M	955.84M	429.22M	490.99M	340.56M	6M	7M	9M	9M
Common Stock	130.99M	122.22M	111.74M	49.77M	28.01M	17.26M	36M	36M	36M	36M
Additional Paid-in Capital	95.07M	304.47M	993.66M	491.34M	491.42M	328.05M	516M	516M	516M	516M
Retained Earnings	316.19M	266M	1.37B	610.07M	865.9M	-21.71M	295M	477M	223M	742M
Accumulated OCI	-2.39M	4.41M	567.74M	256.87M	575.35M	1.11B	754M	1.08B	1.45B	1.81B
Return on Assets (ROA)	0.11%	-0%	0.08%	0%	0.12%	-0.07%	0.06%	0.11%	0.06%	0.11%
Return on Equity (ROE)	0.45%	-0.01%	0.28%	0.01%	0.33%	-0.18%	0.15%	0.22%	0.13%	0.22%
Debt / Equity	1.08x	1.94x	0.89x	1.25x	0.81x	0.92x	0.81x	0.71x	0.61x	0.64x
Debt / Assets	0.31%	0.35%	0.31%	0.39%	0.35%	0.33%	0.38%	0.34%	0.31%	0.33%
Net Debt / EBITDA	1.97x	5.48x	3.18x	3.33x	2.68x	3.32x	1.71x	1.80x	1.87x	1.73x
Book Value per Share	12.02	12.78	50.61	22.94	33.48	28.16	31.87	41.35	44.16	60.57

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	337.19M	374.91M	893.68M	610M	802M	557.29M	638.58M	619M	575M	435M
Operating CF Growth %	0.32%	0.11%	1.38%	-0.32%	0.31%	-0.31%	0.15%	-0.03%	-0.07%	-0.24%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	236.72M	-693.7K	580.15M	224M	603M	140.79M	323.73M	457M	305M	619M
Depreciation & Amortization	57.07M	138.8M	415.76M	165M	186M	204.97M	221.42M	212M	276.22M	342M
Deferred Taxes	0	0	0	0	-130M	30.39M	8.86M	124M	318M	-121M
Other Non-Cash Items	118.24M	419.75M	110.24M	356M	58M	203.54M	117.48M	-5M	-192.22M	-69M
Working Capital Changes	-74.84M	-182.95M	-212.47M	-135M	85M	-22.4M	-32.92M	-132M	-132M	-336M
Capital Expenditures+	-370.56M	-708.27M	-1.72B	-455M	-426M	-222.48M	-499.59M	-447M	-758M	-447M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-549.51M	-708.27M	-1.72B	19M	-369M	-222.48M	-499.59M	-575M	-446M	-344M
Acquisitions	0	-576.72M	0	0	0	6.54M	57.44M	-67M	71M	108M
Purchase of Investments	0	0	0	0	-74M	-14.2M	-208.87M	-103M	0	0
Sale of Investments	0	0	0	0	1000K	0	0	0	0	0
Other Investing	-178.95M	262.22M	-733.21M	474M	-59M	-95.95M	-139.49M	11M	241M	-5M
Cash from Financing+	220.27M	367.66M	752.34M	-470M	-390M	-248.45M	-197.47M	-46M	-57M	476M
Dividends Paid	0	0	0	0	-1M	-8.29M	0	0	-1M	0
Dividend Payout Ratio %	0.01%	-	0%	0.08%	0%	-	-	-	0%	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-3M	-341M	-141M	-100.33M	-36.82M	-18M	0	0
Other Financing	35.66M	-978.18M	-285.48M	-131M	-214M	-206.88M	-15.5M	-162M	-280M	-145M
Net Change in Cash+	761.4K	49.68M	-26.27M	177.66M	-16M	-83.86M	-31.68M	-4M	65M	567M
Exchange Rate Effect	1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	0
Cash at Beginning	39.17M	39.93M	89.61M	63.34M	241M	225.41M	141.55M	110M	106M	171M
Cash at End	39.93M	89.61M	63.34M	241M	225M	141.55M	109.87M	106M	171M	738M
Free Cash Flow+	-33.36M	-333.35M	-822.12M	155M	376M	334.81M	138.99M	172M	-183M	-12M
FCF Growth %	-1.07%	-8.99%	-1.47%	1.19%	1.43%	-0.11%	-0.58%	0.24%	-2.06%	0.93%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	44.55%	-0.68%	27.96%	0.97%	32.9%	-17.56%	15.33%	22.38%	12.86%	21.69%
EBITDA Margin	61.13%	18.81%	24.92%	41.85%	48.36%	41.75%	51.99%	46.09%	39.9%	41.68%
Net Debt / EBITDA	1.97x	5.48x	3.18x	3.33x	2.68x	3.32x	1.71x	1.80x	1.87x	1.73x
Interest Coverage	2.99x	1.07x	3.43x	4.49x	2.48x	1.43x	3.25x	2.92x	1.19x	2.44x
CapEx / Revenue	67.52%	44.73%	38.94%	31.69%	31.79%	20.73%	33.13%	22.74%	43.76%	23.83%
Dividend Payout Ratio	0.85%	-	0.29%	7.77%	0.14%	-	-	-	0.33%	-
Debt / Equity	1.08x	1.94x	0.89x	1.25x	0.81x	0.92x	0.81x	0.71x	0.61x	0.64x
EPS Growth	293.59%	-100.17%	33090.65%	-29.18%	211.6%	-71.25%	157.14%	55.9%	-76.17%	429.44%

Revenue by Segment

	2024
Generation	669M
Generation Growth	-
Oil And Gas	515M
Oil And Gas Growth	-
Petrochemicals	326M
Petrochemicals Growth	-
Eliminations	-107M
Eliminations Growth	-

Frequently Asked Questions

Valuation & Price

Pampa Energía S.A. (PAM) has a price-to-earnings (P/E) ratio of 7.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Pampa Energía S.A. (PAM) reported $2.03B in revenue for fiscal year 2024. This represents a 149% increase from $818.3M in 2013.

Pampa Energía S.A. (PAM) grew revenue by 8.3% over the past year. This is steady growth.

Yes, Pampa Energía S.A. (PAM) is profitable, generating $373.5M in net income for fiscal year 2024 (33.0% net margin).

Dividend & Returns

Pampa Energía S.A. (PAM) has a return on equity (ROE) of 21.7%. This is excellent, indicating efficient use of shareholder capital.

Pampa Energía S.A. (PAM) had negative free cash flow of $172.7M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

Pampa Energía S.A. (PAM) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

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