olivLaw · US equity research
Pampa Energía S.A. PAM
Electric Services · SIC 4911 · Vertical: Electric Services (SIC 4911)
Pampa Energía is one of Argentina's largest integrated energy companies, active in oil and gas production, power generation and petrochemicals. Its large investment projects, such as FLNG and RDA, tied to the development of Vaca Muerta, give it long-term relevance in the Argentine economy.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Pampa Energía S.A. (PAM) stock was 64.84 USD (−5.36% on the day), with market capitalisation 88.2 bn USD, P/E 141.0 on diluted EPS of 0.46 USD over the last 12 months, beta 1.01, 52-week range 64.84–92.27 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 18.1
- oversold (≤ 30)
- Bollinger (20, 2)
- 67.69 – 86.08
- below the lower band · %B -0.15 · band width 23.9%
- SMA 50 / 200
- 79.92 / 82.31
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -3.08 / -1.82
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −18.9% | −2.0% | −16.9 pp | — |
| 3 months | −22.7% | −2.2% | −20.5 pp | — |
| 6 months | −22.3% | +4.3% | −26.5 pp | — |
| Year to date | −26.7% | +10.6% | −37.3 pp | — |
| 1 year | −25.9% | +10.5% | −36.3 pp | −5.5% |
| 3 years | +69.1% | +73.7% | −4.6 pp | +41.8% |
| 5 years | +258.2% | +61.7% | +196.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 60 percentile of its own 5-quarter history (min 43.2, median 111.1, max 225.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.2 bn | 1.4 bn | 1.3 bn | 1.1 bn | 1.5 bn | 1.8 bn | 1.7 bn | 1.9 bn |
| Revenue YoY | unavailable | −34.0% | −6.7% | −19.9% | +40.5% | +21.3% | −5.3% | +8.3% |
| Net income | 286.0 m | 224.0 m | 692.0 m | -367.0 m | 273.0 m | 456.0 m | 302.0 m | 619.0 m |
| Net income YoY | unavailable | −21.7% | +208.9% | −153.0% | unavailable | +67.0% | −33.8% | +105.0% |
| Diluted EPS | unavailable | unavailable | 0.38 | -0.23 | 0.19 | 0.33 | 0.22 | 0.46 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | −160.5% | unavailable | +73.7% | −33.3% | +109.1% |
| net % | 13.1% | 15.6% | 51.6% | -34.2% | 18.1% | 24.9% | 17.4% | 33.0% |
| Free cash flow | -46.0 m | 155.0 m | 376.0 m | 569.0 m | 523.0 m | 203.0 m | -183.0 m | -12.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 738.0 m USD
- Financial debt
- 2.1 bn USD
- Net debt
- 1.3 bn USD
- Equity
- 3.3 bn USD
- Total assets
- 6.3 bn USD
- Debt / equity
- 0.63x
- Current ratio
- 1.83x
- ROE
- 21.7%
- ROA
- 11.2%
- FCF margin
- -0.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.1 bn | 1.5 bn | 1.8 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 16 Apr 2025verified |
| Cost of revenue | 811.0 m | 663.0 m | 951.0 m | 1.1 bn | 1.1 bn | 1.3 bn | SEC (XBRL)· 16 Apr 2025verified |
| Gross profit | 529.0 m | 410.0 m | 557.0 m | 690.0 m | 625.0 m | 597.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Operating income | 462.0 m | 243.0 m | 579.0 m | 631.0 m | 424.0 m | 440.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Interest expense | 187.0 m | 177.0 m | 185.0 m | 221.0 m | 364.0 m | 185.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Pre-tax income | 473.0 m | 159.0 m | 390.0 m | 581.0 m | 623.0 m | 498.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Income tax | -130.0 m | 35.0 m | 77.0 m | 124.0 m | 318.0 m | — | SEC (XBRL)· 30 Apr 2024verified |
| Net income | 692.0 m | -367.0 m | 273.0 m | 456.0 m | 302.0 m | 619.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Diluted EPS | 0.38 | -0.23 | 0.19 | 0.33 | 0.22 | 0.46 | SEC (XBRL)· 16 Apr 2025verified |
Balance sheet · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 225.0 m | 141.0 m | 110.0 m | 106.0 m | 171.0 m | 738.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Receivables | 561.0 m | 341.0 m | — | — | — | — | SEC (XBRL)· 30 Apr 2021verified |
| Inventories | 153.0 m | 116.0 m | 155.0 m | 173.0 m | 205.0 m | 223.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Current assets | 1.4 bn | 948.0 m | 1.1 bn | 1.3 bn | 1.3 bn | 2.4 bn | SEC (XBRL)· 16 Apr 2025verified |
| Property, plant & equipment, net | 3.5 bn | 1.6 bn | 1.7 bn | 2.2 bn | 2.5 bn | 2.6 bn | SEC (XBRL)· 16 Apr 2025verified |
| Total assets | 5.7 bn | 4.9 bn | 3.9 bn | 4.7 bn | 4.7 bn | 6.3 bn | SEC (XBRL)· 16 Apr 2025verified |
| Accounts payable | 454.0 m | 116.0 m | — | — | 238.0 m | 253.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Short-term debt | 183.0 m | 242.0 m | 79.0 m | 273.0 m | 224.0 m | 706.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Long-term debt | 1.8 bn | 1.4 bn | 1.4 bn | 1.3 bn | 1.2 bn | 1.4 bn | SEC (XBRL)· 16 Apr 2025verified |
| Current liabilities | 854.0 m | 448.0 m | 342.0 m | 631.0 m | 521.0 m | 1.3 bn | SEC (XBRL)· 16 Apr 2025verified |
| Total liabilities | 3.3 bn | 3.1 bn | 2.1 bn | 2.5 bn | 2.3 bn | 3.1 bn | SEC (XBRL)· 16 Apr 2025verified |
| Equity | 2.4 bn | 1.8 bn | 1.8 bn | 2.3 bn | 2.4 bn | 3.3 bn | SEC (XBRL)· 16 Apr 2025verified |
| Shares outstanding at year end | 1.7 bn | 1.5 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 16 Apr 2025verified |
Cash flow · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 802.0 m | 693.0 m | 729.0 m | 619.0 m | 575.0 m | 435.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Capex | 426.0 m | 124.0 m | 206.0 m | 416.0 m | 758.0 m | 447.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Free cash flow | 376.0 m ≈ | 569.0 m ≈ | 523.0 m ≈ | 203.0 m ≈ | -183.0 m ≈ | -12.0 m ≈ | SEC (XBRL)· 16 Apr 2025derived |
| Investing cash flow | -369.0 m | -255.0 m | -474.0 m | -575.0 m | -446.0 m | -344.0 m | SEC (XBRL)· 16 Apr 2025verified |
| Financing cash flow | -390.0 m | -445.0 m | -342.0 m | -46.0 m | -57.0 m | 476.0 m | SEC (XBRL)· 16 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
3 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 55.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 88.2 bn USD
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
55% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.51 – 11.80 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)0.51 – 1.31 (Mid 0.82)WACC 9.2% · starting FCFF 143.4 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E9.61 – 11.80 (Mid 10.48)16 companies used · median multiple 22.8x · quartiles 20.9x – 25.6xAEP, AQN, BKH, CEG, CNP, D, ES, ETR, FE, NEE, NRG, OGE, POR, PPL, SO, VST
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 55.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 8.9% | 82 (vs peers) | 12% |
| Net margin · Quality | 33.0% | 100 (vs peers) | 12% |
| Revenue CAGR 3Y · Growth | 7.6% | 96 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | 34.3% | 100 (on a fixed band) | 15% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.4x | 25 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 1.8x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 141.0x | 0 (vs peers) | 23% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| Dividend yield · Returns | unavailable | unavailable | — |
| Payout ratio (EPS) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet46/100 · 2/3 factors with a value
- Growth98/100 · 2/2 factors with a value
- Quality91/100 · 2/2 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Pampa Energy Inc. (PAM). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 1.9 bn USD in 2024; YoY growth 8.3%; net margin 33.0%; ROE 21.8%.
The estimated value range is 5.06–6.55 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 5.65 USD, the price of 64.84 USD leaves a potential of -91.3% (value / price − 1) and a margin of safety of -1,047.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 55.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 8.9%
- Net margin: 33.0%
- Revenue CAGR 3Y: 7.6%
- EPS CAGR 3Y: 34.3%
- Current ratio: 1.8x
What contradicts it
- Interest coverage: 2.4x
- P/E (TTM): 141.0x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA, Dividend yield, Payout ratio (EPS).
Versus the vertical median
Electric Services (SIC 4911) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEENextera Energy Inc | 175.9 bn | 21.4 | 15.6% | 31.5% | +9.8% | −2% / +44% |
| SOSouthern Co | 105.7 bn | 24.0 | 11.3% | 14.5% | +10.6% | +3% / +32% |
| CEGConstellation Energy Corporation | 93.3 bn | 25.7 | 15.3% | 11.1% | +8.3% | −28% / +118% |
| PAMPampa Energy Inc. | 88.2 bn | 141.0 | 21.8% | 33.0% | +8.3% | −26% / +69% |
| AEPAmerican Electric Power Company, Inc. | 70.7 bn | 19.0 | 12.8% | 16.9% | +10.9% | +5% / +63% |
| DDominion Energy, Inc | 58.7 bn | 19.8 | 10.5% | 16.9% | +14.2% | +6% / +47% |
| ETREntergy Corp | 49.9 bn | 27.7 | 11.1% | 13.6% | +9.0% | +12% / +115% |
| VSTVistra Operations Company LLC | 46.9 bn | 23.0 | 43.1% | 11.6% | +3.0% | −22% / +294% |
| CNPCenterpoint Energy Inc | 27.8 bn | 26.1 | 9.6% | 11.4% | +8.3% | +6% / +50% |
| FEFirstenergy Corp | 27.3 bn | 25.7 | 8.4% | 6.9% | +12.0% | −1% / +28% |
| PPLPPL Corp | 26.9 bn | 21.8 | 8.3% | 13.1% | +6.9% | −3% / +37% |
| ESEversource Energy | 26.0 bn | 17.9 | 9.1% | 10.4% | +13.8% | +3% / +16% |
| EIXEdison International | 22.9 bn | 6.3 | 20.8% | 19.6% | +9.8% | +1% / −11% |
| NRGNRG Energy, Inc | 20.2 bn | 24.9 | 23.8% | 2.6% | +9.2% | −43% / +101% |
| TLNTalen Energy Corporation | 15.5 bn | — | -16.7% | -6.4% | +22.0% | −9% / +523% |
| OGEOge Energy Corp. | 10.4 bn | 22.5 | 9.6% | 14.0% | +9.2% | +11% / +44% |
| BEPBrookfield Renewable Partners L.P. | 8.5 bn | — | -1.9% | -1.1% | +9.0% | +8% / +25% |
| CWENClearway Energy, Inc. | 7.3 bn | 72.6 | 1.8% | 6.4% | +4.2% | −2% / +43% |
| TXNMTXNM Energy, Inc. | 6.5 bn | 41.1 | 5.5% | 7.5% | +9.9% | +0% / +41% |
| BKHBlack Hills Corporation | 6.4 bn | 21.3 | 7.9% | 13.0% | +8.6% | +14% / +63% |
| ORAOrmat Technologies, Inc. | 5.8 bn | 46.3 | 5.0% | 10.7% | +12.5% | −16% / +40% |
| PORPortland General Electric Company | 5.5 bn | 19.7 | 6.6% | 7.7% | +4.0% | −9% / +12% |
| BEPCBrookfield Renewable Corporation | 5.4 bn | — | -501.4% | -62.9% | −10.0% | −24% / +19% |
| OKLOOklo Inc. | 4.1 bn | — | -7.7% | — | unavailable | −76% / +114% |
| AQNAlgonquin Power & Utilities Corp. | 3.4 bn | 25.6 | 3.9% | 7.4% | +4.9% | −8% / −8% |
1- and 3-year price returns: for PAM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 39.10 Total return -40% · Per year -40% | 69.02 Total return 6% · Per year 6% | 103.83 Total return 60% · Per year 60% |
| 3 years | 40.30 Total return -38% · Per year -15% | 79.84 Total return 23% · Per year 7% | 131.52 Total return 103% · Per year 27% |
| 5 years | 41.55 Total return -36% · Per year -9% | 92.35 Total return 42% · Per year 7% | 166.61 Total return 157% · Per year 21% |
- Exit P/E± 19.96
- Net margin± 13.97
- Annual revenue growth± 11.14
- Annual dilution± 1.17
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 09 Apr 2026; since then the company filed 6-K (03 Nov 2026), 6-K (02 Nov 2026).
In brief
Pampa Energía is one of Argentina's largest integrated energy companies, active in oil and gas production, power generation and petrochemicals. Its large investment projects, such as FLNG and RDA, tied to the development of Vaca Muerta, give it long-term relevance in the Argentine economy. 1
SWOT
Strengths
- The company holds important positions in Vaca Muerta gas production and power generation, giving it an integrated operating base.
- Co-controlling stakes in gas and power transport add revenue and influence over essential infrastructure.
- The integrated value chain can partly offset weakness in one segment with results from another.
Weaknesses
- The petrochemicals segment posted an operating loss in fiscal 2025, showing the vulnerability of this division.
- Dependence on the Argentine economy exposes the company to inflation, currency swings and fiscal policy.
- Large projects require substantial financing, which can add pressure on the balance sheet.
Opportunities
- The FLNG and RDA projects could monetize Vaca Muerta reserves and bring export foreign currency inflows.
- Extending the RIGI regime to hydrocarbon activities could ease investment in new wells and infrastructure.
- Growing power demand and renewable generation could open new contracts for the generation segment.
Threats
- Delays in permits or project schedules could postpone expected LNG and new well revenues.
- Changes to power sector rules or the expiry of hydroelectric concessions could reduce generation assets.
- Volatility in oil, gas and petrochemical prices could affect profit margins.
Risks
- Exposure to the Argentine economyhigh
The company's activity depends on economic conditions, inflation and the exchange rate, which can change real costs and revenues.
- Execution of large projectshigh
The FLNG and RDA projects require very large investments and could face technical or regulatory delays.
- Hydroelectric concessionsmedium
Concession expiries and transition periods could affect generation assets if clear renewal terms are not reached.
- Petrochemical divisionmedium
The operating loss in the petrochemicals segment shows this activity can be exposed to thin margins.
- Regulatory changeslow
Changes to the electricity and hydrocarbon regulatory frameworks could influence tariffs and operating conditions.
Investment thesis
What would need to be true (bull case)
- If Vaca Muerta output keeps rising, the company could benefit from higher volumes and export projects.
- Stakes in gas and power infrastructure could provide steadier long-term revenue.
- Segment integration may help the company manage economic cycles more effectively.
What would break the thesis
- If economic instability in Argentina persists, revenues and margins could be affected.
- Delays in the FLNG and RDA projects could postpone expected returns and raise costs.
- If the petrochemicals division remains unprofitable, it could weigh on consolidated results.
What to watch
- Progress of the FLNG project and start of Hilli operations2027
- RIGI approval decision for the RDA project2026
- Regulation of HINISA and HIDISA hydroelectric concessions2026
- Petrochemicals segment results and marginsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 09 Apr 2026; since then the company filed 6-K (03 Nov 2026), 6-K (02 Nov 2026).
The business
Pampa Energía S.A. is a sociedad anónima incorporated in Argentina, headquartered in Buenos Aires, which emerged from a cold storage company and grew through acquisitions from 2006 onward. The company participates in the oil, gas and electricity value chains, directly or through subsidiaries and jointly controlled companies. The 2016 acquisition of Petrobras' Argentine holdings started the reorganization that produced its current structure. 1
Operations are grouped into four segments: oil and gas, generation, petrochemicals, and holding and others. The oil and gas segment includes interests in blocks across Argentina, while the generation segment runs installed capacity of 5,472 MW, about 12% of the country's total. The company also holds co-controlling stakes in TGS and Transener, major gas and high-voltage power transport operators. 1
Revenue in fiscal 2025 was weighted toward oil and gas and generation, while petrochemicals posted an operating loss. The company has also announced several large investment projects whose execution depends on economic and regulatory conditions in Argentina. 1
Segments
Oil and gas
The segment reported revenue of 862 million USD and an operating profit of 91 million USD in fiscal 2025. Combined proved reserves reach about 296 million boe, and average production in Argentina was 84.4 thousand boe per day. The company holds 9% of national gas output, and 60% of production came from the Vaca Muerta formation. 1
Generation
The generation segment recorded revenue of 792 million USD and an operating profit of 375 million USD in 2025. Installed capacity of 5,472 MW represents about 12% of the country's capacity. 1
Petrochemicals
The petrochemicals segment generated revenue of 443 million USD and an operating loss of 31 million USD in 2025. Its plants produce styrene, styrene butadiene rubber and polystyrene, with domestic market shares of 86% and 98% respectively, per company estimates. 1
Market context
Argentina's energy market grew in 2025, with electricity consumption of 141,249 GWh, up 0.7% from 2024. Installed capacity reached 44,177 MW at year end. Oil production hit 794 thousand barrels per day, the highest since 1999, led by Vaca Muerta. 1
The macroeconomic backdrop is volatile: inflation fell to 31.5% in 2025 while the exchange rate depreciated sharply against 2024. Energy markets are sensitive to tariff policy, sector regulation and the economic cycle, factors that can influence the company's margins. 1
Trends
- Vaca Muerta developmenttailwind
Rising oil and gas output in the Neuquina basin could support the company's volumes and revenues, particularly through gas projects and oil evacuation capacity.
- LNG and infrastructure investmentmixed
The FLNG and VMOS projects could open new export markets but require large capital and long execution timelines, and delays could affect returns.
- Disinflation and exchange ratemixed
Lower inflation could ease pressure on real costs, but exchange rate swings can affect dollar-denominated revenues and margins.
- Power sector regulationheadwind
Changes in the regulatory framework and the expiry of hydroelectric concessions could reduce generation assets if favorable renewal terms are not reached.
Competitive position
Pampa operates in a sector with several large players in oil and gas production, as well as in generation and transport. Its position depends on its scale, integration across the value chain and access to Vaca Muerta projects.
In petrochemicals and power generation, competition comes from local and regional companies, and plant market shares and installed capacities are key points of comparison. Detailed comparisons with each competitor are not available in the official source.
- YPF S.A.YPF
State-linked oil and gas company, partner in the FLNG project and active in the same Vaca Muerta formation.
- Pan American Energy
Major Argentine oil and gas operator, partner in the FLNG project and in the 20-year gas supply contracts.
- Tecpetrol
Oil company that joined the VMOS shareholder structure, competing for evacuation capacity from Vaca Muerta.
- Harbour Energy
International energy company involved in the FLNG project, relevant to the LNG export market.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Seleccionaron relatos para publicación digital , audiolibros y podcasts :: El Diario de La PampaSurge — GDELT DOC · 24 Oct 2026 · RO
- Ignacio Gutiérrez , deportista del Mes en agosto :: El Diario de La PampaSurge — GDELT DOC · 24 Sept 2026 · RO
- Pampa Energía (PAM) Weighs a 500-MW Data Center. Can It Justify Nearly $900M in Power Infrastructure?Yahoo Finance — News · 10 Sept 2026 · EN
- Pampa Energía Founder Marcos Mindlin Buys 150,000 Shares for $507,000. Is This a Signal for Investors to Also Buy?Yahoo Finance — News · 07 Sept 2026 · EN
- Pampa Energía Founder Marcos Mindlin Buys 675,000 Shares for $2.3 Million. What Does This Mean for Investors?Yahoo Finance — News · 25 Aug 2026 · EN
The latest news item in our archive is from 24 Oct 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)02 Nov 2026
- Current report (foreign issuer)08 Sept 2026
- Current report (foreign issuer)11 Aug 2026
- Current report (foreign issuer)05 Aug 2026
- Current report (foreign issuer)04 Aug 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Pampa Energía S.A. · 09 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.