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Pampa Energia SA (PAMP) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Pampa Energia SA ARS 3,531, price ARS 5,165, upside -31.6%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · AR · ISIN ARP432631215

PE Pampa Energia SA logo Some data Sep 23, 2026

Pampa Energia SA

PAMP · BA

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 3,531 ARS · Overvalued (−32%)
!Quality 52/100
!Weak Growth (revenue 5y −51.8 %/yr)
✓Highly profitable · 20.3% net margin (TTM)
!Moderate debt · negative free cash flow
✓Ranks above peers (9/13)
!Moderate moat 57/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

5,655 ARS 81.35 ARS Fair Value 3,531 ARS Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 81.35 ARS – 5,655 ARS · fair‑value band 2,889 ARS – 3,972 ARS · the 5,165 ARS price screens above the 3,531 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

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.

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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.

Stock analysis

Pampa Energia SA (PAMP) currently trades at 5,165 ARS, while our model-based Fair Value estimate is 3,531 ARS, implying the stock looks roughly 46.3% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 6,102 ARS per share, and 2 of the 5 models we run sit above the 5,165 ARS price.

Bear case: the Asset-Based group reads lowest at 2,290 ARS, and 3 of the 5 models stay below the price. Evidence for this calculation is medium.

Scenario range: 2,889 ARS (bear) to 3,972 ARS (bull), the price of 5,165 ARS sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Pampa Energia SA reported revenue of $2.0B in FY2025 versus $1.5B in FY2021, a compound +7.3%/yr. Reported net income was $377M in FY2025, compounding +8.4%/yr from FY2021.

Key figures

Market cap 7.0T ARS (≈ $4.9B) · P/E ratio 11.0 · P/S ratio 2.07 · EPS (TTM) 471.65 ARS · Net margin 18.9% · Return on equity 12.1% · Return on assets (EBIT) 8.2% · Operating margin 19.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 9% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 15% fair-value upside, at −32%, PAMP screens richer than that median.

Fair Value models

Bear 2,889 ARS Fair Value 3,531 ARS Bull 3,972 ARS
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (345.02 ARS per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income 3,096 ARS 3,531 ARS 6,396 ARS 71
Graham-Dodd 2,443 ARS 2,981 ARS 3,352 ARS 65
P/E Multiple 4,848 ARS 6,460 ARS 8,072 ARS 63
All 5 models by family
Earnings-Based
Graham-Dodd 2,443 ARS 2,981 ARS 3,352 ARS 65
Multiples
P/E Multiple 4,848 ARS 6,460 ARS 8,072 ARS 63
P/B Multiple 4,580 ARS 6,102 ARS 7,624 ARS 55
Asset-Based
NCAV (Graham) 1,714 ARS 2,290 ARS 3,428 ARS 54
Economic Profit
Residual Income 3,096 ARS 3,531 ARS 6,396 ARS 71

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Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 63

Profitability 40
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 20
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 84
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 24/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−51.8%
Start year 2020 (pandemic). Over 10 years: −11.9% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.9%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−52.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−52.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.29% → 17%
⚠ Revenue per share shrinking 46.5%/yr over ~6Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

PAMP screens 46% overvalued. Compare with 3M Company →

Earlier news

News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 380 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Above median
Fair Value upside −32% · Below median
Profitability
Return on equity (TTM) 12% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 19% · Top 25%
Growth and dividend
Revenue growth 38% · Top 25%
Balance sheet
Debt / equity 0.51× · Above median

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than median
P/B 1.37× · Pricier than median
P/S (TTM) 2.28× · Priciest 25%
EV/EBITDA 7.7× · Cheaper than median
PEG 0.59× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)100 · sector 16
PAST (return on equity)48 · sector 19
HEALTH (low debt)74 · sector 89
DIVIDEND (yield)0 · sector 40

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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3,531 ARS −46%Fair Value
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Cite: Fair Value Calculator (2026). "Pampa Energia SA Fair Value". https://www.fairvalue-calculator.com/stock/PAMP

Frequently asked questions

Is Pampa Energia SA (PAMP) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 3,531 ARS versus a price of 5,165 ARS, about −32% upside (overvalued).
What is the fair value of PAMP?
Our model-based fair value for Pampa Energia SA is 3,531 ARS (as of Sep 23, 2026), built from audited fundamentals. The current price: 5,165 ARS.
What is the quality score of PAMP?
Pampa Energia SA has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Pampa Energia SA (PAMP)?
Our model-based price target is the fair value of 3,531 ARS (as of Sep 23, 2026) from 5 valuation models. Cautious scenario 2,889 ARS, optimistic scenario 3,972 ARS. It is a calculation from audited fundamentals, not an analyst target.
What is the Pampa Energia SA stock forecast for 2026?
Our models put fair value at 3,531 ARS, about −32% upside versus a price of 5,165 ARS (overvalued). Cautious scenario 2,889 ARS, optimistic scenario 3,972 ARS. The calculation is refreshed regularly with new filings.
What is the revenue of Pampa Energia SA (PAMP)?
Pampa Energia SA reported trailing-twelve-month revenue of about $2.2B (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Pampa Energia SA (PAMP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pampa Energia SA it is 3,531 ARS per share (as of Sep 23, 2026), against a price of 5,165 ARS. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is Pampa Energia SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PAMP trades above its calculated fair value: price 5,165 ARS, fair value 3,531 ARS, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PAMP?
No. The price is what the market pays today (5,165 ARS); the fair value is what the company's own numbers justify (3,531 ARS). For Pampa Energia SA the two are 1,634 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is Pampa Energia SA worth?
The market values Pampa Energia SA at about 7.0T ARS (market capitalisation, as of Sep 23, 2026). Per share that is 5,165 ARS; our models calculate a fair value of 3,531 ARS per share.
What do the bullish and bearish scenarios say about PAMP?
Our models span a range for Pampa Energia SA: cautious scenario 2,889 ARS, base 3,531 ARS, optimistic 3,972 ARS per share (as of Sep 23, 2026, price 5,165 ARS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PAMP?
Pampa Energia SA trades at a price-to-earnings ratio of 11.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3,531 ARS is built from several models across several years. Other multiples: PEG 0.6, P/B 1.4, P/S 2.3, EV/EBITDA 7.7.
What is the PEG ratio of PAMP?
The PEG ratio of Pampa Energia SA is 0.59 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Pampa Energia SA (PAMP)?
Balance-sheet figures for Pampa Energia SA (as of Sep 23, 2026): return on equity 12.1%, debt of 0.51 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is PAMP from its 52-week high?
Pampa Energia SA trades at 5,165 ARS, about 9% below its 52-week high of 5,655 ARS and 45% above the low of 3,573 ARS (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,531 ARS is for.
Which stocks are comparable to Pampa Energia SA?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Poste Italiane S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Pampa Energia SA stock attractive at the current price?
The data as of Sep 23, 2026: price 5,165 ARS, calculated fair value 3,531 ARS (−32%), Quality Score 52/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PAMP calculated?
We run Pampa Energia SA through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 3,531 ARS, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Pampa Energia SA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Pampa Energia SA (PAMP)?
The closing price on Sep 23, 2026 was 5,165 ARS. Our model-based fair value is 3,531 ARS, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pampa Energia SA right now?
The price sits above even our optimistic bull case (3,972 ARS). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Pampa Energia SA

How large is the market capitalisation of Pampa Energia SA (PAMP)?
The market capitalisation of Pampa Energia SA is 7.0T ARS (≈ $4.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Pampa Energia SA (PAMP)?
The price-to-sales ratio of Pampa Energia SA is 2.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Pampa Energia SA (PAMP)?
Earnings per share at Pampa Energia SA are 471.65 ARS (price ÷ EPS = P/E 11.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Pampa Energia SA (PAMP)?
The net margin of Pampa Energia SA is 18.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Pampa Energia SA (PAMP)?
The return on equity (ROE) of Pampa Energia SA is 12.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Pampa Energia SA (PAMP)?
On an EBIT basis the return on assets of Pampa Energia SA is 8.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Pampa Energia SA (PAMP)?
The operating margin of Pampa Energia SA is 19.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pampa Energia SA (PAMP)?
Revenue at Pampa Energia SA is growing +38.4% versus a year earlier (3y avg +3.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Pampa Energia SA (PAMP)?
Earnings per share at Pampa Energia SA are growing +39.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Pampa Energia SA (PAMP) generate?
The free cash flow of Pampa Energia SA is −$215M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Pampa Energia SA (PAMP) carry?
The net debt of Pampa Energia SA is $1.2B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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