Pampa Energy Inc.
PAM, PPENF · Electric Services · EDGAR filings ↗
Reference price $3.37 — last insider purchase, 2026-06-25 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
B77Diversified Argentine power-generation and oil-and-gas operator with top-decile returns, tempered by acute Argentine macro and concession risk.
Strengths
- Strong returns: ROE 18.8% (94th pct), ROA 9.8% (96th pct), net margin 33% (100th pct), net income up ~103% (93rd pct)
- Healthy liquidity (current ratio 1.83, 88th pct) and interest coverage in the 75th pct; large insured asset base
Risks
- Heavy exposure to Argentine inflation, peso devaluation, exchange controls and government intervention in energy pricing
- Concession-renewal and CAMMESA collection risk; FCF slightly negative on capex
Notable findings
- Cash burnNegative free cash flow (-12.0M)
- Strong balance sheetStrong balance sheet — $738M cash & investments, ~246 quarters of runway
- Insider buyingInsider buying — 5 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$9M, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 13 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$37M, last 6mo) Form 4 ↗
Key metrics
Gross margin
31.8%
Operating margin
23.5%
Net margin
33.0%
Return on equity
18.8%
Return on assets
9.8%
ROIC
6.5%
Revenue growth (QoQ)
8.3%
Net-income growth
103.0%
Debt / equity
0.6×
Interest coverage
2.4×
Current ratio
1.8×
Free cash flow
-$12M
Tangible book value
$3.3B
Cash & investments
$738M
Cash runway
246q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Mindlin Marcos Marcelo | Buy | 384K | $3.37 |
| 2026-06-24 | Mindlin Marcos Marcelo | Buy | 739K | $3.35 |
| 2026-06-03 | Mindlin Damian Miguel | Sell | 555K | $3.55 |
| 2026-06-01 | Mindlin Damian Miguel | Sell | 814K | $3.69 |
| 2026-05-27 | Mindlin Marcos Marcelo | Buy | 275K | $3.37 |
| 2026-05-19 | Mindlin Marcos Marcelo | Sell | 1.8M | $3.48 |
| 2026-05-08 | Mindlin Marcos Marcelo | Sell | 1.8M | $3.35 |
| 2026-05-08 | Mariani Gustavo | Buy | 25K | $81.02 |
| 2026-05-07 | Mariani Gustavo | Buy | 25K | $81.40 |
| 2026-04-22 | Mindlin Marcos Marcelo | Sell | 1.5M | $3.51 |
| 2026-04-21 | Mindlin Marcos Marcelo | Conversion | 12.5M | — |
| 2026-04-21 | Mindlin Marcos Marcelo | Conversion | 500K | — |
| 2026-04-20 | Mindlin Marcos Marcelo | Sell | 1.2M | $3.43 |
| 2026-04-16 | Mindlin Marcos Marcelo | Sell | 1.7M | $3.54 |
| 2026-04-09 | Mindlin Damian Miguel | Sell | 58K | $3.47 |
| 2026-03-31 | Mindlin Damian Miguel | Sell | 500K | $3.57 |
| 2026-03-25 | Espinosa Paz Josefina | Grant | 1.1K | — |
| 2026-03-20 | Mindlin Damian Miguel | Sell | 477 | $3.65 |
| 2026-03-19 | Mindlin Damian Miguel | Sell | 300K | $3.41 |
| 2026-03-18 | Mindlin Damian Miguel | Sell | 104K | $3.59 |
| 2026-03-18 | Mindlin Damian Miguel | Sell | 325K | $3.40 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-09 | 2025-12-31 | 0001292814-26-002185 ↗ |
| 20-F | 2025-04-16 | 2024-12-31 | 0001292814-25-001504 ↗ |
| 20-F | 2024-04-30 | 2023-12-31 | 0001292814-24-001730 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001292814-23-001936 ↗ |
| 20-F | 2022-04-29 | 2021-12-31 | 0001292814-22-001955 ↗ |
| 20-F | 2021-04-30 | 2020-12-31 | 0001292814-21-001956 ↗ |
| 20-F | 2020-04-30 | 2019-12-31 | 0001292814-20-001571 ↗ |
| 20-F | 2019-04-30 | 2018-12-31 | 0001292814-19-001636 ↗ |
| 20-F | 2018-04-30 | 2017-12-31 | 0001292814-18-001513 ↗ |
| 20-F | 2017-04-28 | 2016-12-31 | 0001292814-17-001101 ↗ |
| 20-F | 2016-05-02 | 2015-12-31 | 0001292814-16-004448 ↗ |
| 20-F | 2015-05-12 | 2014-12-31 | 0001292814-15-001186 ↗ |