Stock fact sheet · data as of
Pampa Energía S.A. (PAM): fair value, margin of safety and Wheel Score
Ticker symbol PAM · Utilities · Regulated Electric · Argentina · ADR · Value
PAM is an American depositary share (ADR): the US listing of Pampa Energía S.A., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is PAM undervalued?
At 64.84 (close of 5 Nov 2026), PAM trades 53% below the GLS average fair value of 137.06. That average comes from 6 models run on the latest filings, and 4 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Pampa Energía S.A. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 6 models disagree widely: Graham Number gives 5.40 while Graham Growth gives 299.43. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, PAM is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 81, growth score 41, out of 100).
Nine valuation models for PAM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 243.27 | +275% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 5.40 | -92% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 299.43 | +362% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 110.94 | +71% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 53.05 | -18% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 110.27 | +70% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -18.75 | -129% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 97.00 | +50% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: PAM passes 4 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is 6.5 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are moderate - ROIC 6.8%, ROE 10.5%, ROA 5.7% - with debt at 0.54 times equity and negative free cash flow.
Pampa Energía S.A. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Generation 49%, Oil And Gas 34%, Petrochemicals 17% (fiscal year FY2025).
Institutional ownership scores 1/10, insider activity 6/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | 6.8% |
|---|---|---|---|
| GLS Moat | 6.5 / 10 | ROE | 10.5% |
| Debt / equity | 0.54 | ROA | 5.7% |
| Free-cash-flow yield | -11.0% | Payout ratio | 0% |
| Institutions | 1 / 10 | Insiders · Congress | 6 · 5 / 10 |
Wheel Score 49: Weak
PAM scores 49 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 4, financially healthy - Piotroski 4/9 (under 6), and the parts are thin too - value strong, premium strong, moat good, health fair, red flags good, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 45% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 4,266 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 401k shares a day on a market cap of $3.5B, with a beta of -0.22 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 53% below fair value | |
| Premium | Strong | implied volatility 45% | |
| Moat | Good | moat 6.5/10 | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Good | Red Flags score 85/100 | |
| Option trading | Weak | 653 contracts a day, 4,266 open interest | |
| Stability | Fair | beta -0.22, $3.5B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for PAM in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Regulated Electric
The 12 companies below are the closest to Pampa Energía S.A. by market cap within the Regulated Electric industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| DTG DTE Energy Company 2021 Series | 15.36 | 32.35 | +53% | 33No options | $3.2B |
| DTB DTE Energy Company 2020 Series | 15.16 | 32.27 | +53% | 34No options | $3.2B |
| MGEE MGE Energy, Inc. | 77.59 | 45.16 | -72% | 34Weak | $2.9B |
| NWE Northwestern Energy Group Inc | 82.00 | 33.17 | -147% | 33Weak | $5.0B |
| CIG Companhia Energética de Minas Gerais | 1.82 | 4.36 | +58% | 44Weak | $5.2B |
| POR Portland General Electric Company | 46.00 | 27.26 | -69% | 27Weak | $5.5B |
| WELPM Wisconsin Electric Power Company | 103.90 | 616.45 | +83% | 32No options | $2.1B |
| WELPP Wisconsin Electric Power Company PFD 3.60% | 62.00 | 391.26 | +84% | 28No options | $2.1B |
| ENIC Enel Chile S.A. | 4.39 | 5.18 | +15% | 35Weak | $6.1B |
| ELPC Companhia Paranaense de Energia | 10.67 | 18.32 | +42% | 34No options | $2.0B |
| UEPEM Union Electric Company | 60.05 | 52.24 | -15% | 20No options | $6.1B |
| CMSC CMS Energy Corporation 5.875% J | 20.36 | 30.94 | +34% | 30No options | $6.2B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PAM
Is PAM undervalued right now?
By the GLS models, yes: at 64.84 the stock is 53% below the average fair value of 137.06 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of PAM and what does it mean?
PAM scores 49 out of 100 (Weak) - it fails Wheel Trade Filter 4. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for PAM?
137.06 per share as of 5 Nov 2026 - the simple average of the 6 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Pampa Energía S.A. report earnings next?
No upcoming earnings date is recorded for PAM in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does PAM have listed options, and how liquid are they?
Yes. The nightly snapshot found 44 listed contracts with 4,266 open interest across all expiries and implied volatility of 45% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.
Is PAM an ADR?
Yes. PAM is an American depositary share (ADR): the US listing of Pampa Energía S.A., whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.