Pampa Energy
PAM on NYSE. Electric services. Market value $4.2bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2024.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
We can't pin down how many shares it has, so we don't rank it.
The latest annual report is over 15 months old, so we don't rank it.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Utilities stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$81.48 a share, 39% above its 1-year low
Over the past year the price has ranged from $58.50 to $94.50.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.45bn | 1.38bn | 1.38bn | 1.36bn | 1.36bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesYes, 6% fewer since 2020
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 9 April 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
None of the long-term investors we follow own it. 87 funds in all.
Largest holders overall
- SPX Gestao de Recursos Ltda$45mAdded
- Mirae Asset Global Etfs Holdings$36m
- Ping Capital Management$30mAdded
- Morgan Stanley$23mCut
- PointState Capital LP$22m
- VR Advisory Services$19m
- JPMorgan Chase$19m
- Absolute Gestao de Investimentos Ltda.$18mCut
- Fundamenta Capital$18mCut
- Wexford Capital LP$18mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Marcos Marcelo Mindlin13.9%−1.4 ptsSince 12 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Marcos Marcelo Mindlin | 13.9%−1.4 pts | 12 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 3 insiders bought $26m of shares on the open market. 2 sold $48m.
- Mindlin Damian MiguelVicepresidentBought
- Date
- 28 September 2026
- Shares
- 1,432,197
- Price
- $3.89
- Value
- $6m
- Mariani GustavoVicepresidentBought
- Date
- 25 September 2026
- Shares
- 25,000
- Price
- $78.26
- Value
- $2m
- Mindlin Marcos MarceloDirectorBought
- Date
- 31 August 2026
- Shares
- 500,000
- Price
- $3.44
- Value
- $2m
- Mindlin Marcos MarceloDirectorBought
- Date
- 27 August 2026
- Shares
- 150,000
- Price
- $3.38
- Value
- $507,300
- Mindlin Marcos MarceloDirectorBought
- Date
- 21 August 2026
- Shares
- 675,000
- Price
- $3.38
- Value
- $2m
- Mindlin Marcos MarceloDirectorBought
- Date
- 19 August 2026
- Shares
- 902,975
- Price
- $3.34
- Value
- $3m
- Mindlin Marcos MarceloDirectorBought
- Date
- 18 August 2026
- Shares
- 396,950
- Price
- $3.35
- Value
- $1m
- Mindlin Marcos MarceloDirectorSold
- Date
- 8 July 2026
- Shares
- 1,500,000
- Price
- $3.54
- Value
- $5m
- Mindlin Marcos MarceloDirectorSold
- Date
- 1 July 2026
- Shares
- 1,502,000
- Price
- $3.41
- Value
- $5m
- Mindlin Marcos MarceloDirectorBought
- Date
- 26 June 2026
- Shares
- 287,916
- Price
- $3.37
- Value
- $970,277
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 28 September 2026 | Mindlin Damian Miguel Vicepresident | Bought | 1,432,197 | $3.89 | $6m |
| 25 September 2026 | Mariani Gustavo Vicepresident | Bought | 25,000 | $78.26 | $2m |
| 31 August 2026 | Mindlin Marcos Marcelo Director | Bought | 500,000 | $3.44 | $2m |
| 27 August 2026 | Mindlin Marcos Marcelo Director | Bought | 150,000 | $3.38 | $507,300 |
| 21 August 2026 | Mindlin Marcos Marcelo Director | Bought | 675,000 | $3.38 | $2m |
| 19 August 2026 | Mindlin Marcos Marcelo Director | Bought | 902,975 | $3.34 | $3m |
| 18 August 2026 | Mindlin Marcos Marcelo Director | Bought | 396,950 | $3.35 | $1m |
| 8 July 2026 | Mindlin Marcos Marcelo Director | Sold | 1,500,000 | $3.54 | $5m |
| 1 July 2026 | Mindlin Marcos Marcelo Director | Sold | 1,502,000 | $3.41 | $5m |
| 26 June 2026 | Mindlin Marcos Marcelo Director | Bought | 287,916 | $3.37 | $970,277 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
Pampa Energy doesn’t file a US annual report (10-K), so we haven’t checked it.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
An insider just bought shares with their own money. The deep dive asks why.
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.