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Pampa Energía S.A. (PPENF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Pampa Energía S.A. $3.50, price $1.75, upside +100.0%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · US · Home Argentina

PE Pampa Energía S.A. logo Some data Sep 24, 2026

Pampa Energía S.A.

PPENF · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value $3.50 · Strongly undervalued (+100.0%)
!Quality 47/100
!Expensive Growth (revenue 5y +13.2 %/yr)
✓Highly profitable · 20.3% net margin (TTM)
!Moderate debt · negative free cash flow
!Mixed vs. peers (7/13)
!Moderate moat 59/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 1 out of 100
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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

$3.19 $1.05 Fair Value $3.50 Dec 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

45‑month range $1.05 – $3.19 · fair‑value band $1.61 – $4.37 · the $1.75 price screens below the $3.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 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 Energía S.A. (PPENF) currently trades at $1.75, while our model-based Fair Value estimate is $3.50, implying the stock looks roughly 50.0% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $4.77 per share, and 6 of the 6 models we run sit above the $1.75 price.

Bear case: the Asset-Based group reads lowest at $1.79, and 0 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: $1.61 (bear) to $4.37 (bull), the price of $1.75 sits inside 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 47/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Pampa Energía S.A. 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 $3.6B · P/E ratio 5.3 · P/S ratio 1.00 · EPS (TTM) $0.3300 · Dividend yield 0.0% · Net margin 18.9% · Return on equity 12.1% · Return on assets (EBIT) 7.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 34% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 2% fair-value upside, at 100%, PPENF screens cheaper than that median.

Fair Value models

Bear $1.61 Fair Value $3.50 Bull $4.37
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 ($0.2495 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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 $2.36 $2.62 $3.34 76
Graham-Dodd $1.91 $6.66 $8.96 64
P/E Multiple $3.79 $5.05 $6.31 63
All 6 models by family
Earnings-Based
Graham-Dodd $1.91 $6.66 $8.96 64
Lynch FV $1.55 $2.21 $2.88 61
Multiples
P/E Multiple $3.79 $5.05 $6.31 63
P/B Multiple $3.58 $4.77 $5.96 55
Asset-Based
NCAV (Graham) $1.34 $1.79 $2.68 54
Economic Profit
Residual Income $2.36 $2.62 $3.34 76

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Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 22

Profitability 40
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 20
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 3
Price trend over the last 3–12 months (market factor)
52W Momentum 0
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. 60/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+13.2%
Start year 2020 (pandemic)
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.
+7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.0%
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.25% → 17%

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Earlier news

News mood ⓘNews mood, the average tone of recent news (66 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 · 361 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside −27.9% · Below median
Profitability
Return on equity (TTM) 12.1% · Top 25%
Return on assets 3.4% · Above median
Net margin (TTM) 20.3% · Top 25%
Operating margin (TTM) 19.4% · Top 25%
Growth and dividend
Revenue growth 38.4% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.51× · Above median

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/E (TTM) 5.3× · Cheapest 25%
P/B 0.99× · Pricier than median
P/S (TTM) 1.65× · Pricier than median
EV/EBITDA 6.0× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 39
FUTURE (revenue growth)100 · sector 29
PAST (return on equity)48 · sector 20
HEALTH (low debt)74 · sector 89
DIVIDEND (yield)1 · sector 43

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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Cite: Fair Value Calculator (2026). "Pampa Energía S.A. Fair Value". https://www.fairvalue-calculator.com/stock/PPENF

Frequently asked questions

Is Pampa Energía S.A. (PPENF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $3.50 versus the last price from Sep 25, 2026 of $1.75, about +100% upside (undervalued).
What is the fair value of PPENF?
Our model-based fair value for Pampa Energía S.A. is $3.50 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $1.75.
What is the quality score of PPENF?
Pampa Energía S.A. has a Quality Score of 47/100. 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 Energía S.A. (PPENF)?
Our model-based price target is the fair value of $3.50 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario $1.61, optimistic scenario $4.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Pampa Energía S.A. stock forecast for 2026?
Our models put fair value at $3.50, about +100% upside versus the last price from Sep 25, 2026 of $1.75 (undervalued). Cautious scenario $1.61, optimistic scenario $4.37. The calculation is refreshed regularly with new filings.
What is the revenue of Pampa Energía S.A. (PPENF)?
Pampa Energía S.A. reported trailing-twelve-month revenue of about $2.2B (latest available figure, as of Sep 24, 2026).
Does Pampa Energía S.A. pay a dividend?
Pampa Energía S.A. currently shows a dividend yield of about 0.03% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Pampa Energía S.A. (PPENF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pampa Energía S.A. it is $3.50 per share (as of Sep 24, 2026), against a price of $1.75. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Pampa Energía S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PPENF trades below its calculated fair value: price $1.75, fair value $3.50, a gap of about +100% (undervalued). 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 PPENF?
No. The price is what the market pays today ($1.75); the fair value is what the company's own numbers justify ($3.50). For Pampa Energía S.A. the two are $1.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Pampa Energía S.A. worth?
The market values Pampa Energía S.A. at about $3.6B (market capitalisation, as of Sep 24, 2026). Per share that is $1.75; our models calculate a fair value of $3.50 per share.
What do the bullish and bearish scenarios say about PPENF?
Our models span a range for Pampa Energía S.A.: cautious scenario $1.61, base $3.50, optimistic $4.37 per share (as of Sep 24, 2026, price $1.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PPENF?
Pampa Energía S.A. trades at a price-to-earnings ratio of 5.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $3.50 is built from several models across several years. Other multiples: P/B 1.0, P/S 1.7, EV/EBITDA 6.0.
How solid is the balance sheet of Pampa Energía S.A. (PPENF)?
Balance-sheet figures for Pampa Energía S.A. (as of Sep 24, 2026): return on equity 12.1%, debt of 0.51 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is PPENF from its 52-week high?
Pampa Energía S.A. trades at $1.75, about 34% below its 52-week high of $2.65 and at the low of $1.75 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $3.50 is for.
Which stocks are comparable to Pampa Energía S.A.?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific Limited, 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 Energía S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price $1.75, calculated fair value $3.50 (+100%), Quality Score 47/100, from 6 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 PPENF calculated?
We run Pampa Energía S.A. through 6 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 $3.50, 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 14.5 % above its aggregate fair value. Pampa Energía S.A. currently trades 50 % below its own fair value, and the market average says nothing about that. 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 Energía S.A. (PPENF)?
The latest price we hold is from Sep 25, 2026 and stands at $1.75. Our model-based fair value is $3.50, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pampa Energía S.A. right now?
The model range is unusually wide ($1.61 to $4.37). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Pampa Energía S.A.

How large is the market capitalisation of Pampa Energía S.A. (PPENF)?
The market capitalisation of Pampa Energía S.A. is $3.6B. 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 Energía S.A. (PPENF)?
The price-to-sales ratio of Pampa Energía S.A. is 1.00 (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 Energía S.A. (PPENF)?
Earnings per share at Pampa Energía S.A. are $0.3300 (price ÷ EPS = P/E 5.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Pampa Energía S.A. (PPENF)?
The dividend yield of Pampa Energía S.A. is 0.0% (payout 0.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Pampa Energía S.A. (PPENF)?
The net margin of Pampa Energía S.A. 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 Energía S.A. (PPENF)?
The return on equity (ROE) of Pampa Energía S.A. 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 Energía S.A. (PPENF)?
On an EBIT basis the return on assets of Pampa Energía S.A. is 7.9% (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 Energía S.A. (PPENF)?
The operating margin of Pampa Energía S.A. 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 Energía S.A. (PPENF)?
Revenue at Pampa Energía S.A. 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 Energía S.A. (PPENF)?
Earnings per share at Pampa Energía S.A. 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 Energía S.A. (PPENF) generate?
The free cash flow of Pampa Energía S.A. 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 Energía S.A. (PPENF) carry?
The net debt of Pampa Energía S.A. 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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