Revenue has experienced a consistent downward trajectory, culminating in a 8.7% year-over-year decline and a negative gross margin of -6.2% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 584.6M | 598.06M | 714.65M | 810.81M | 946.86M | 707.12M | 486.82M | 514.18M | 533.26M | 437.84M | 432.85M | 417.05M | 410.94M | 402.81M | 380.63M | 359.24M | 331.99M | 291.91M | 406.72M | 408.84M | 400.27M | 360.88M | 325.07M | 301.04M | 266.05M | 231.4M | 211.61M | 207.38M | 143.16M | 127.21M | 113M |
| Revenue Growth % | -14.96% | -16.31% | -11.86% | -14.37% | 33.9% | 45.25% | -5.32% | -3.58% | 21.79% | 1.15% | 3.79% | 1.49% | 2.02% | 5.83% | 5.95% | 8.21% | 13.73% | -28.23% | -0.52% | 2.14% | 10.91% | 11.02% | 7.98% | 13.15% | 14.97% | 9.35% | 2.04% | 44.86% | 12.54% | 12.58% | 23.37% |
| Cost of Goods Sold | 645.26M | 657.13M | 700.12M | 727M | 775.7M | 577.27M | 430.52M | 451.66M | 463.79M | 398.48M | 392.64M | 362.36M | 362.37M | 368.62M | 356.57M | 337.94M | 177.78M | 115.69M | 178.9M | 148.62M | 248.86M | 223.12M | 194.7M | 160.99M | 103.32M | 91.77M | 86.15M | 84.51M | 30.3M | 28.4M | 25.4M |
| COGS % of Revenue | - | 109.88% | 97.97% | 89.66% | 81.92% | 81.64% | 88.44% | 87.84% | 86.97% | 91.01% | 90.71% | 86.89% | 88.18% | 91.51% | 93.68% | 94.07% | 53.55% | 39.63% | 43.98% | 36.35% | 62.17% | 61.83% | 59.9% | 53.48% | 38.84% | 39.66% | 40.71% | 40.75% | 21.16% | 22.33% | 22.48% |
| Gross Profit | -60.67M | -59.07M | 14.52M | 83.81M | 171.16M | 129.84M | 56.3M | 62.51M | 69.47M | 39.35M | 40.21M | 54.7M | 48.56M | 34.19M | 24.07M | 21.3M | 154.21M | 176.22M | 227.83M | 260.22M | 151.41M | 137.76M | 130.37M | 140.05M | 162.73M | 139.63M | 125.46M | 122.87M | 112.86M | 98.81M | 87.6M |
| Gross Margin % | -10.38% | -9.88% | 2.03% | 10.34% | 18.08% | 18.36% | 11.56% | 12.16% | 13.03% | 8.99% | 9.29% | 13.11% | 11.82% | 8.49% | 6.32% | 5.93% | 46.45% | 60.37% | 56.02% | 63.65% | 37.83% | 38.17% | 40.1% | 46.52% | 61.16% | 60.34% | 59.29% | 59.25% | 78.84% | 77.67% | 77.52% |
| Gross Profit Growth % | - | -506.76% | -82.67% | -51.04% | 31.82% | 130.63% | -9.94% | -10.01% | 76.52% | -2.13% | -26.48% | 12.62% | 42.02% | 42.08% | 12.98% | -86.19% | -12.49% | -22.65% | -12.45% | 71.86% | 9.91% | 5.67% | -6.92% | -13.94% | 16.54% | 11.3% | 2.1% | 8.87% | 14.22% | 12.8% | 43.71% |
| Operating Expenses | 22.08M | 20.46M | 51.29M | 53.49M | 47.39M | 29.64M | 22.38M | 49.97M | 27.87M | 26.68M | 20.28M | 18.46M | 25.55M | 22.69M | 21.16M | 26.64M | 154.41M | 190.87M | 249.78M | 254.85M | 120.34M | 114.23M | 111.18M | 119.36M | 133.09M | 118.36M | 106.06M | 98.42M | 95.8M | 85.2M | 78.03M |
| OpEx % of Revenue | - | 3.42% | 7.18% | 6.6% | 5.01% | 4.19% | 4.6% | 9.72% | 5.23% | 6.09% | 4.69% | 4.43% | 6.22% | 5.63% | 5.56% | 7.42% | 46.51% | 65.39% | 61.41% | 62.34% | 30.07% | 31.65% | 34.2% | 39.65% | 50.02% | 51.15% | 50.12% | 47.46% | 66.92% | 66.97% | 69.06% |
| Selling, General & Admin | 10.38M | 0 | 19.78M | 30.77M | 32.52M | 18.79M | 8.87M | 35.62M | 17.19M | 17.48M | 16.63M | 15.31M | 20.27M | 14.59M | 13.74M | 15.57M | 122.55M | 117.06M | 142.85M | 156.31M | 127.54M | 122M | 119.52M | 119.35M | 125.21M | 121.09M | 103.22M | 90.25M | 65.17M | 57.66M | 58.5M |
| SG&A % of Revenue | - | - | 2.77% | 3.79% | 3.43% | 2.66% | 1.82% | 6.93% | 3.22% | 3.99% | 3.84% | 3.67% | 4.93% | 3.62% | 3.61% | 4.33% | 36.91% | 40.1% | 35.12% | 38.23% | 31.86% | 33.81% | 36.77% | 39.65% | 47.06% | 52.33% | 48.78% | 43.52% | 45.52% | 45.33% | 51.77% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2.82M | 20.46M | 31.51M | 22.73M | 14.88M | 10.85M | 13.51M | 14.34M | 10.68M | 9.19M | 3.65M | 3.15M | 5.28M | 8.1M | 7.42M | 11.08M | 31.87M | 73.82M | 106.93M | 98.54M | -7.19M | -7.77M | -8.34M | 15K | 7.88M | -2.73M | 2.83M | 8.17M | 30.64M | 27.53M | 19.54M |
| Operating Income | -82.75M | -79.54M | -36.77M | 30.31M | 123.77M | 100.2M | 33.92M | 12.55M | 41.6M | 12.68M | 19.93M | 36.23M | 23.01M | 11.51M | 2.9M | -5.34M | -203K | -14.65M | -21.95M | 5.37M | 31.06M | 23.53M | 19.19M | 20.69M | 29.64M | 21.27M | 19.4M | 24.45M | 17.06M | 13.62M | 9.56M |
| Operating Margin % | -14.15% | -13.3% | -5.14% | 3.74% | 13.07% | 14.17% | 6.97% | 2.44% | 7.8% | 2.9% | 4.6% | 8.69% | 5.6% | 2.86% | 0.76% | -1.49% | -0.06% | -5.02% | -5.4% | 1.31% | 7.76% | 6.52% | 5.9% | 6.87% | 11.14% | 9.19% | 9.17% | 11.79% | 11.92% | 10.7% | 8.46% |
| Operating Income Growth % | - | -116.34% | -221.3% | -75.51% | 23.51% | 195.39% | 170.37% | -69.84% | 228.09% | -36.37% | -45% | 57.45% | 99.98% | 296.35% | 154.33% | -2532.02% | 98.61% | 33.26% | -509.23% | -82.73% | 32.04% | 22.62% | -7.25% | -30.21% | 39.36% | 9.63% | -20.67% | 43.35% | 25.3% | 42.34% | -16.4% |
| EBITDA | -2.8M | 3.76M | 71M | 94.92M | 186.57M | 155.22M | 90.09M | 67.65M | 90.99M | 54.95M | 59.04M | 68.58M | 59.31M | 50.59M | 41.2M | 28.82M | 26.83M | 23.09M | 15.51M | 44.12M | 64.99M | 54.9M | 49.2M | 47.29M | 54.35M | 969K | 38.21M | 42.85M | 31.06M | 26.61M | -2.83M |
| EBITDA Margin % | -0.48% | 0.63% | 9.93% | 11.71% | 19.7% | 21.95% | 18.51% | 13.16% | 17.06% | 12.55% | 13.64% | 16.44% | 14.43% | 12.56% | 10.82% | 8.02% | 8.08% | 7.91% | 3.81% | 10.79% | 16.24% | 15.21% | 15.14% | 15.71% | 20.43% | 0.42% | 18.06% | 20.66% | 21.7% | 20.92% | -2.51% |
| EBITDA Growth % | -104.86% | -94.7% | -25.2% | -49.13% | 20.2% | 72.29% | 33.16% | -25.65% | 65.57% | -6.92% | -13.9% | 15.63% | 17.22% | 22.8% | 42.96% | 7.41% | 16.21% | 48.91% | -64.86% | -32.11% | 18.38% | 11.58% | 4.05% | -13% | 5509.39% | -97.46% | -10.83% | 37.94% | 16.73% | 1038.62% | -113.58% |
| D&A (Non-Cash Add-back) | 79.95M | 83.3M | 107.76M | 64.61M | 62.81M | 55.01M | 56.17M | 55.11M | 49.39M | 42.27M | 39.11M | 32.35M | 36.3M | 39.09M | 38.3M | 34.16M | 27.04M | 37.74M | 37.46M | 38.76M | 33.93M | 31.38M | 30.02M | 26.6M | 24.71M | -20.3M | 18.81M | 18.39M | 14M | 12.99M | -12.4M |
| EBIT | -41.6M | -52.83M | -28.31M | 37.76M | 126.94M | 110.54M | 32.22M | 18.77M | 37.59M | 18.53M | 21.41M | 37.75M | 25.11M | 13.05M | 6.19M | -3.79M | 649K | -15.4M | -26.95M | 7.07M | 31.06M | 23.53M | 19.19M | 20.69M | 29.64M | -81.03M | 19.4M | 24.45M | -13.24M | -14.79M | 23.4M |
| Net Interest Income | -17.95M | -17.46M | -13.24M | -9.18M | -7.93M | -8.04M | -8.81M | -8.65M | -6.25M | -3.9M | -3.64M | -2.82M | -2.9M | -3.38M | -2.6M | -1.8M | -2.25M | -2.37M | -2.43M | -2.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 17.95M | 17.46M | 13.24M | 9.18M | 7.93M | 8.04M | 8.81M | 8.65M | 6.25M | 3.9M | 3.64M | 2.82M | 2.9M | 3.38M | 2.6M | 1.8M | 2.25M | 2.37M | 2.43M | 2.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 23.2M | 9.25M | -4.78M | -1.73M | -4.76M | 2.3M | -10.51M | -2.43M | -10.26M | 1.95M | -2.16M | -1.3M | -798K | -1.83M | 692K | -247K | -1.4M | -3.12M | -7.42M | -746K | -1.03M | -1.4M | -1.29M | -1.39M | -1.99M | -4.48M | -5.05M | -5.65M | -3.83M | -3.42M | -4.17M |
| Pretax Income | -59.55M | -70.29M | -41.55M | 28.58M | 119.01M | 102.5M | 23.41M | 10.12M | 31.34M | 14.63M | 17.77M | 34.93M | 22.21M | 9.67M | 3.6M | -5.59M | -1.6M | -17.77M | -29.38M | 4.62M | 30.04M | 22.12M | 17.89M | 19.3M | 27.66M | 16.79M | 14.35M | 18.8M | 13.23M | 10.19M | 5.4M |
| Pretax Margin % | -10.19% | -11.75% | -5.81% | 3.52% | 12.57% | 14.5% | 4.81% | 1.97% | 5.88% | 3.34% | 4.11% | 8.38% | 5.41% | 2.4% | 0.94% | -1.56% | -0.48% | -6.09% | -7.22% | 1.13% | 7.5% | 6.13% | 5.5% | 6.41% | 10.39% | 7.26% | 6.78% | 9.07% | 9.24% | 8.01% | 4.78% |
| Income Tax | -15.08M | -17.68M | -9.75M | 10.16M | 28.34M | 25.99M | 5.58M | 2.21M | 7.35M | -24.27M | 6.67M | 13.49M | 8.72M | 3.76M | 1.42M | -2.73M | -948K | -6.92M | -10.62M | 1.97M | 12.07M | 8.98M | 7.3M | 7.8M | 11.06M | 6.72M | 5.69M | 7.54M | 5.16M | 3.89M | 2.1M |
| Effective Tax Rate % | 25.32% | 25.16% | 23.47% | 35.56% | 23.81% | 25.35% | 23.85% | 21.9% | 23.44% | -165.87% | 37.54% | 38.63% | 39.26% | 38.84% | 39.39% | 48.89% | 59.14% | 38.96% | 36.13% | 42.56% | 40.19% | 40.61% | 40.82% | 40.45% | 40% | 40.03% | 39.67% | 40.07% | 38.98% | 38.19% | 38.89% |
| Net Income | -44.47M | -52.61M | -31.8M | 18.42M | 90.67M | 76.52M | 17.83M | 7.9M | 23.99M | 38.9M | 11.1M | 21.44M | 13.49M | 5.92M | 2.18M | -2.86M | -655K | -10.85M | -18.77M | 2.65M | 17.96M | 13.14M | 10.59M | 11.49M | 16.59M | 10.07M | 8.66M | 11.27M | 8.07M | 6.3M | 3.3M |
| Net Margin % | -7.61% | -8.8% | -4.45% | 2.27% | 9.58% | 10.82% | 3.66% | 1.54% | 4.5% | 8.88% | 2.56% | 5.14% | 3.28% | 1.47% | 0.57% | -0.8% | -0.2% | -3.72% | -4.61% | 0.65% | 4.49% | 3.64% | 3.26% | 3.82% | 6.24% | 4.35% | 4.09% | 5.43% | 5.64% | 4.95% | 2.92% |
| Net Income Growth % | -10.58% | -65.46% | -272.65% | -79.69% | 18.5% | 329.21% | 125.66% | -67.08% | -38.32% | 250.41% | -48.21% | 58.89% | 128.08% | 171.45% | 176.27% | -336.18% | 93.96% | 42.2% | -807.31% | -85.23% | 36.72% | 24.09% | -7.85% | -30.75% | 64.76% | 16.32% | -23.17% | 39.59% | 28.14% | 90.91% | -34.18% |
| Net Income (Continuing) | -44.47M | -52.61M | -31.8M | 18.42M | 90.67M | 76.52M | 17.83M | 7.9M | 23.99M | 38.9M | 11.1M | 21.44M | 13.49M | 5.92M | 2.18M | -2.86M | -655K | -10.85M | -18.77M | 2.65M | 17.96M | 13.14M | 10.59M | 11.49M | 16.59M | 10.07M | 8.66M | 11.27M | 8.1M | 6.3M | 3.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.12 | -2.48 | -1.45 | 0.83 | 4.04 | 3.35 | 0.77 | 0.34 | 0.97 | 1.52 | 0.42 | 0.73 | 0.42 | 0.17 | 0.06 | -0.08 | -0.02 | -0.29 | -0.48 | 0.07 | 0.44 | 0.30 | 0.24 | 0.25 | 0.39 | 0.30 | 0.26 | 0.33 | 0.24 | 0.19 | 0.11 |
| EPS Growth % | -15.74% | -71.03% | -274.7% | -79.46% | 20.6% | 335.06% | 126.47% | -64.95% | -36.18% | 261.9% | -42.47% | 73.81% | 147.06% | 172% | 178.13% | -357.14% | 93.97% | 39.58% | -838.46% | -85.23% | 46.67% | 25% | -4% | -35.9% | 30% | 15.38% | -21.21% | 37.5% | 26.32% | 72.73% | -31.25% |
| EPS (Basic) | - | -2.48 | -1.45 | 0.84 | 4.08 | 3.37 | 0.77 | 0.34 | 0.99 | 1.54 | 0.42 | 0.74 | 0.42 | 0.17 | 0.06 | -0.08 | -0.02 | -0.29 | -0.48 | 0.07 | 0.44 | 0.30 | 0.24 | 0.26 | 0.39 | 0.30 | 0.26 | 0.34 | 0.24 | 0.19 | 0.17 |
| Diluted Shares Outstanding | 20.94M | 21.21M | 21.88M | 22.2M | 22.44M | 22.86M | 23.07M | 23.52M | 24.64M | 25.59M | 26.6M | 29.3M | 32.14M | 34.73M | 34.81M | 36.22M | 37.66M | 37.66M | 38.73M | 40.96M | 41.21M | 43.9M | 45.3M | 45.3M | 42.86M | 34.2M | 34.07M | 33.95M | 33.78M | 33.16M | 30.62M |
| Basic Shares Outstanding | 20.94M | 21.21M | 21.88M | 22.06M | 22.25M | 22.71M | 23.01M | 23.33M | 24.33M | 25.32M | 26.51M | 29.15M | 31.96M | 34.65M | 34.8M | 36.22M | 37.66M | 37.64M | 38.73M | 40.95M | 41.18M | 43.86M | 45.19M | 45.16M | 42.68M | 34.09M | 33.82M | 33.57M | 33.22M | 32.77M | 30.62M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 798.67% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Structural Margin Erosion
As indicated by the latest quarterly financial data, Pamt Corp. has experienced a sustained revenue decline, with the most recent period showing a 8.7% year-over-year contraction, following a consistent pattern of double-digit percentage drops observed throughout the 2025 fiscal year across all reported segments.
The consistent downward trajectory in top-line performance suggests that the company is struggling to maintain volume in its core cross-border automotive lanes. This persistent weakness implies that the firm's specialized infrastructure may be losing its competitive pricing advantage in a softening freight environment.
Based on reported income statements, Pamt Corp.'s gross margin has deteriorated into negative territory, reaching -6.2% in 2026Q1, which represents a significant departure from the positive margins maintained as recently as 2024Q3 and highlights a severe inability to cover direct operating costs.
The shift to negative gross margins suggests that the company is effectively paying to haul freight, likely due to an inability to pass through rising fuel and maintenance costs. Investors should monitor whether this reflects a temporary cyclical trough or a permanent impairment of the company's pricing power within its niche.
According to the provided financial filings, Pamt Corp.'s operating margin has remained consistently negative, bottoming out at -29.8% in 2025Q4, which demonstrates that the company's fixed cost structure is currently far too heavy to support the diminished revenue base generated by its current fleet.
The lack of operating leverage indicates that administrative and overhead expenses are not scaling down in proportion to the revenue decline. This suggests that management may be facing significant friction in rightsizing the organization, potentially due to the specialized nature of its cross-border workforce and terminal assets.
Financial statements reveal that Pamt Corp. has sustained negative net income for seven of the last ten quarters, raising critical questions about the viability of its current business model in the absence of significant improvements in asset utilization or a recovery in automotive manufacturing demand.
Short-sellers would likely focus on the persistent cash burn and the inability to achieve positive operating income despite a low debt-to-equity ratio. The current financial profile warrants investigation into whether the company's reliance on specific automotive lanes has become a structural liability rather than a competitive moat.
Quick answers to the most common questions about buying PAMT stock.
For fiscal year 2025, Pamt Corp. (PAMT) reported total revenue of $598.1M. This represents a 429.3% increase compared to $113.0M in 1996.
Pamt Corp. (PAMT) reported a net loss of $52.6M for the fiscal year ending 2025.
Pamt Corp. (PAMT) reported an operating income of $-79.5M, resulting in an operating profit margin of -13.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Pamt Corp. (PAMT) generated $-59.1M in gross profit for the year, representing a gross profit margin of -9.9%. This demonstrates the company's core pricing power and production efficiency.