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Pampa Energía

DB:9PAA
Snowflake Description

Outstanding track record and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
9PAA
DB
ARS63B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Pampa Energía S.A., an integrated electricity company, engages in the generation, transmission, and distribution of electricity in Argentina. The last earnings update was 25 days ago. More info.


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9PAA Share Price and Events
7 Day Returns
4.9%
DB:9PAA
0.2%
Europe Electric Utilities
-0.6%
DE Market
1 Year Returns
-
DB:9PAA
-2.6%
Europe Electric Utilities
-20.9%
DE Market
9PAA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pampa Energía (9PAA) 4.9% -8.5% - - - -
Europe Electric Utilities 0.2% -18.2% -13.1% -2.6% 19.9% -3%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • No trading data on 9PAA.
  • No trading data on 9PAA.
Price Volatility
9PAA
Industry
5yr Volatility vs Market

Value

 Is Pampa Energía undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pampa Energía to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pampa Energía.

DB:9PAA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:9PAA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 12.4%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.25
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.245 (1 + (1- 30%) (185.28%))
0.708
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 12.41%)
9.54%

Discounted Cash Flow Calculation for DB:9PAA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pampa Energía is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:9PAA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (ARS, Millions) Source Present Value
Discounted (@ 9.54%)
2020 1,248.00 Analyst x1 1,139.33
2021 815.00 Analyst x1 679.25
2022 769.51 Est @ -5.58% 585.49
2023 738.55 Est @ -4.02% 513.00
2024 716.88 Est @ -2.93% 454.60
2025 701.32 Est @ -2.17% 406.00
2026 689.85 Est @ -1.64% 364.59
2027 681.14 Est @ -1.26% 328.64
2028 674.32 Est @ -1% 297.02
2029 668.81 Est @ -0.82% 268.94
Present value of next 10 years cash flows ARS5,036.00
DB:9PAA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ARS668.81 × (1 + -0.39%) ÷ (9.54% – -0.39%)
ARS6,710.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ARS6,710.33 ÷ (1 + 9.54%)10
ARS2,698.33
DB:9PAA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ARS5,036.00 + ARS2,698.33
ARS7,734.33
Equity Value per Share
(ARS)
= Total value / Shares Outstanding
= ARS7,734.33 / 1,622.93
ARS4.77
DB:9PAA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:9PAA represents 0.27621x of BASE:PAMP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.27621x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (ARS) x Listing Adjustment Factor
= ARS 4.77 x 0.27621
€1.32
Value per share (EUR) From above. €1.32
Current discount Discount to share price of €10.80
= -1 x (€10.80 - €1.32) / €1.32
-720.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Pampa Energía is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pampa Energía's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pampa Energía's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:9PAA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in ARS ARS18.35
BASE:PAMP Share Price ** BASE (2020-04-06) in ARS ARS39.1
Europe Electric Utilities Industry PE Ratio Median Figure of 76 Publicly-Listed Electric Utilities Companies 10.33x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pampa Energía.

DB:9PAA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BASE:PAMP Share Price ÷ EPS (both in ARS)

= 39.1 ÷ 18.35

2.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pampa Energía is good value based on earnings compared to the Europe Electric Utilities industry average.
  • Pampa Energía is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Pampa Energía's expected growth come at a high price?
Raw Data
DB:9PAA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
6%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 37 Publicly-Listed Electric Utilities Companies 1.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

DB:9PAA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.13x ÷ 6%

0.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pampa Energía is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pampa Energía's assets?
Raw Data
DB:9PAA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in ARS ARS70.63
BASE:PAMP Share Price * BASE (2020-04-06) in ARS ARS39.1
Europe Electric Utilities Industry PB Ratio Median Figure of 87 Publicly-Listed Electric Utilities Companies 0.76x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:9PAA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BASE:PAMP Share Price ÷ Book Value per Share (both in ARS)

= 39.1 ÷ 70.63

0.55x

* Primary Listing of Pampa Energía.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pampa Energía is good value based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Pampa Energía's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Pampa Energía has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Pampa Energía expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pampa Energía expected to grow at an attractive rate?
  • Pampa Energía's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Pampa Energía's earnings growth is positive but not above the Germany market average.
  • Pampa Energía's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:9PAA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:9PAA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 6%
DB:9PAA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 15.7%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:9PAA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in ARS Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:9PAA Future Estimates Data
Date (Data in ARS Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 41,572
2023-12-31 39,593
2022-12-31 270,959 35,993 2
2021-12-31 207,117 55,175 18,708 8
2020-12-31 178,117 39,045 11,746 8
2020-04-07
DB:9PAA Past Financials Data
Date (Data in ARS Millions) Revenue Cash Flow Net Income *
2019-12-31 154,642 37,711 33,012
2019-09-30 134,186 34,954 42,768
2019-06-30 120,956 30,684 30,853
2019-03-31 111,750 25,382 7,556
2018-12-31 110,080 22,930 5,416
2018-09-30 131,725 22,779 4,397
2018-06-30 113,870 22,626 9,337
2018-03-31 98,591 22,194 15,413
2017-12-31 82,008 16,635 12,692
2017-09-30 43,046 9,490 3,716
2017-06-30 39,528 6,471 1,600
2017-03-31 32,023 5,053 916

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pampa Energía's earnings are expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
  • Pampa Energía's revenue is expected to grow by 15.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:9PAA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Pampa Energía Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:9PAA Future Estimates Data
Date (Data in ARS Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 14.95 17.25 12.65 2.00
2020-12-31 7.30 8.72 5.87 2.00
2020-04-07
DB:9PAA Past Financials Data
Date (Data in ARS Millions) EPS *
2019-12-31 18.35
2019-09-30 23.24
2019-06-30 16.61
2019-03-31 3.95
2018-12-31 2.76
2018-09-30 2.23
2018-06-30 4.70
2018-03-31 7.86
2017-12-31 6.56
2017-09-30 1.94
2017-06-30 0.86
2017-03-31 0.51

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Pampa Energía is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Pampa Energía's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pampa Energía has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Pampa Energía performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pampa Energía's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pampa Energía has delivered over 20% year on year earnings growth in the past 5 years.
  • Pampa Energía's 1-year earnings growth exceeds its 5-year average (509.5% vs 64.7%)
  • Pampa Energía's earnings growth has exceeded the Europe Electric Utilities industry average in the past year (509.5% vs 7.2%).
Earnings and Revenue History
Pampa Energía's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pampa Energía Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:9PAA Past Revenue, Cash Flow and Net Income Data
Date (Data in ARS Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 154,642.00 33,012.00 18,312.00
2019-09-30 134,186.00 42,768.00 14,571.00
2019-06-30 120,956.00 30,853.00 13,201.00
2019-03-31 111,750.00 7,556.00 13,082.00
2018-12-31 110,080.00 5,416.00 14,273.00
2018-09-30 131,725.00 4,397.00 15,019.00
2018-06-30 113,870.00 9,337.00 13,537.00
2018-03-31 98,591.00 15,413.00 11,908.00
2017-12-31 82,008.00 12,692.00 12,356.00
2017-09-30 43,046.00 3,716.00 5,967.00
2017-06-30 39,528.00 1,600.00 6,508.00
2017-03-31 32,023.00 916.00 5,879.00
2016-12-31 25,110.00 -83.00 5,060.00
2016-09-30 20,070.70 1,068.71 4,565.11
2016-06-30 12,073.60 2,040.98 2,970.29
2016-03-31 9,664.53 2,771.06 2,554.06
2015-12-31 7,106.00 3,065.00 2,191.00
2015-09-30 6,977.29 1,731.27 1,903.46
2015-06-30 6,698.69 1,786.59 1,793.38
2015-03-31 6,441.71 2,035.21 1,618.58
2014-12-31 6,101.00 743.00 1,559.00
2014-09-30 5,918.92 -83.38 1,357.14
2014-06-30 5,725.29 -332.77 1,213.87
2014-03-31 5,374.20 281.39 1,164.70
2013-12-31 5,334.99 412.94 1,196.28
2013-09-30 5,531.82 279.71 1,057.34
2013-06-30 5,988.72 187.84 967.35

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pampa Energía has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Pampa Energía used its assets more efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Pampa Energía has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pampa Energía's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pampa Energía has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Pampa Energía's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pampa Energía's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pampa Energía is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pampa Energía's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pampa Energía's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pampa Energía Company Filings, last reported 3 months ago.

DB:9PAA Past Debt and Equity Data
Date (Data in ARS Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 144,262.00 116,603.00 38,587.00
2019-09-30 135,984.00 114,048.00 36,721.00
2019-06-30 107,427.00 84,816.00 19,123.00
2019-03-31 81,350.00 89,753.00 23,699.00
2018-12-31 67,683.00 84,372.00 25,700.00
2018-09-30 2,627.00 90,669.00 28,958.00
2018-06-30 11,320.00 65,998.00 26,828.00
2018-03-31 24,145.00 47,650.00 17,504.00
2017-12-31 74,270.00 66,221.00 22,792.00
2017-09-30 18,298.00 39,511.00 12,540.00
2017-06-30 16,466.00 35,850.00 9,477.00
2017-03-31 16,170.00 34,537.00 11,582.00
2016-12-31 14,074.00 27,319.00 5,632.00
2016-09-30 14,652.19 28,538.81 6,890.65
2016-06-30 7,954.36 12,157.08 3,753.90
2016-03-31 9,054.16 10,037.16 4,815.95
2015-12-31 8,381.00 9,093.00 4,598.00
2015-09-30 5,072.15 7,513.95 2,877.63
2015-06-30 4,918.86 6,192.07 2,302.73
2015-03-31 4,716.08 5,773.00 2,115.67
2014-12-31 3,553.84 5,077.33 1,363.81
2014-09-30 2,456.25 4,515.94 1,704.80
2014-06-30 2,636.46 4,523.51 1,830.69
2014-03-31 2,258.64 3,917.28 1,139.59
2013-12-31 2,874.82 3,678.10 1,185.93
2013-09-30 2,997.17 3,486.85 824.55
2013-06-30 3,390.93 3,351.84 811.90
  • Pampa Energía's level of debt (80.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (142.6% vs 80.8% today).
  • Debt is well covered by operating cash flow (32.3%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pampa Energía's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pampa Energía has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Pampa Energía's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Pampa Energía dividends.
If you bought €2,000 of Pampa Energía shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Pampa Energía's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pampa Energía's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:9PAA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:9PAA Future Dividends Estimate Data
Date (Data in ARS) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-04-07
DB:9PAA Past Annualized Dividends Data
Date (Data in ARS) Dividend per share (annual) Avg. Yield (%)
2012-11-19 0.000 0.000
2012-08-21 0.000 0.000
2012-05-21 0.000 0.000
2012-01-06 0.000 0.000
2011-08-11 0.014 0.630
2011-03-14 0.014 0.550
2009-12-18 0.012 0.630
2009-08-03 0.012 0.747

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Pampa Energía has not reported any payouts.
  • Unable to verify if Pampa Energía's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pampa Energía's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pampa Energía has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Pampa Energía's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pampa Energía afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pampa Energía has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Pampa Energía's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gustavo Mariani
AGE 49
TENURE AS CEO 1.3 years
CEO Bio

Mr. Gustavo Mariani, CFA, has been the Chief Executive Officer and Executive Vice President at Pampa Energía S.A. Mr. Mariani served as the Chief Executive Officer at Pampa Energía S.A. since December 14, 2018. Mr. Mariani served as a Co-Chief Executive Officer, Chief Generation Manager and Chief of New Business of Pampa Energia SA until December 14, 2018. He serves as the Vice Chairman of the Board at Transportadora de Gas del Sur S.A. since April 11, 2019. Mr. Mariani serves as a Director of Power Generation and New Businesses and served as Co-Chief Executive Officer, Chief Generation Manager and Chief of New Business at Petrobras Argentina S.A. He serves as the Chief of New Business at Energia SA. He serves as the Director and Shareholder of Grupo Emes. He was Managing Director at the firm. He serves as the Head of Corporate Finance at Grupo Dolphin S.A., Advisory Arm. He served as Co-Chief Executive Officer and Generation & New Business Director at Pampa Energia SA until May 12, 2016. Mr. Mariani served as the President of Pampa Energia SA from April 29, 2016 to May 10, 2016. Mr. Mariani served as the Chairman of Transportadora de Gas Del Sur S.A. since July 27, 2016. He served as Second Vice President of the Board of Directors at Electricidad Argentina S.A. He served as the President of EGSSA Holding SA. He served as the Chief Business Development Manager at Pampa Energia S.A. since 2006. He joined Grupo Dolphin S.A. in 1993, as an Analyst and then served as a Portfolio Manager. He served as the Chief Finance Officer and Vice President of Pampa Energia SA until April 2010 and served as its Business Development Director and Second Vice Chairman. He served as the Chairman of Pampa Energia SA since 2013. He serves as Vice Chairman of Petrobras Argentina S.A. and serves as its Director since November 2005. He has been Vice Chairman at Pampa Energia SA since May 10, 2016. He serves as Vice Chairman of Board of Directors at Central Termica Loma De La Lata S.A. He served as the Deputy Chairman of Transportadora de Gas Del Sur S.A. until July 27, 2016 and has been its Director since 2011. He serves as Vice Chairman of Central Termica Guemes S.A. He has been a Vice Chairman of Empresa Distribuidora y Comercializadora Norte S.A. since 2013. He served as the Vice Chairman of Pampa Energia SA since April 14, 2011 He served as a Financial and Corporate Director at IRSA Inversiones y Representaciones S.A. He serves as a Non-Independent Director at Petrolera Pampa S.A. He has been a Director at Empresa Distribuidora y Comercializadora Norte S.A. since November 2005. He serves as a Director at Central Termica Guemes S.A., EASA, IEASA S.A., Dolphin Energia S.A., Transba, Pampa Holding, Pampa Advisors S.A., Citelec, Transener and Dolphin Finance S.A. He serves as Director of Bodega Loma la Lata S.A., CPB, Loma de La Lata, GMA Warrants S.A., Citelec, Comunicaciones y Consumo S.A., Consultores Fund Management S.A., Dolphin Créditos S.A., Dolphin Créditos Holding S.A., Grupo Mtres S.A., Emes Inversora S.A., IEASA, Transba, Edenor, Grupo Dolphin Holding S.A., HIDISA, HINISA, Nihuiles, Diamante, IPB, Orígenes Seguros de Vida S.A., Orígenes Seguros de Retiro S.A., Pampa Comercializadora S.A., Pampa Participaciones II, Pampa Participaciones, Transelec, Petrolera Pampa, Sitios Argentinos S.A, Greenwind S.A., Parques Eólicos del Fin del Mundo S.A., Parques Eólicos Argentinos S.A., Dolphin Fund Management S.A., and PELSA and as alternate liquidator of CAM Gerenciadora S.A. (company in liquidation). In addition, Mr. Mariani is the executive secretary of the management board of “Fundación Pampa Energía Comprometidos con la Educación.” He has been a Director of Pampa Energia SA since November 2005. He is a Chartered Financial Analyst since 1998. Mr. Mariani holds an M.B.A. in Finance from the University of CEMA (Universidad del CEMA - Centro de Estudios Macroeconómicos) and a degree in Economics from the Belgrano University (Universidad de Belgrano in Buenos Aires).

CEO Compensation
  • Insufficient data for Gustavo to compare compensation growth.
  • Insufficient data for Gustavo to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Pampa Energía management team in years:

1.3
Average Tenure
52.5
Average Age
  • The average tenure for the Pampa Energía management team is less than 2 years, this suggests a new team.
Management Team

Gustavo Mariani

TITLE
CEO, Executive VP & Vice Chairman
AGE
49
TENURE
1.3 yrs

Gabriel Cohen

TITLE
CFO & Director
AGE
55
TENURE
1.3 yrs

Mauricio Penta

TITLE
Executive Director of Administration
AGE
43

Lida Wang

TITLE
Investor Relations Officer

María Carolina Sigwald

TITLE
Executive Director of Legal Affairs & Director
AGE
52
TENURE
2.4 yrs

Ricardo Torres

TITLE
Executive VP & Director
AGE
61

Damián Miguel Mindlin

TITLE
Executive VP & Director
AGE
53

Mariano Batistella

TITLE
Executive Director of Strategy
AGE
37
TENURE
1.3 yrs

María Agustina Montes

TITLE
Head of Market Relations

Horacio Jorge Tomás Turri

TITLE
Executive Director of Oil and Gas & Alternate Director
AGE
58
Board of Directors Tenure

Average tenure and age of the Pampa Energía board of directors in years:

10.4
Average Tenure
54
Average Age
  • The average tenure for the Pampa Energía board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Marcos Marcelo Mindlin

TITLE
Chairman of the Board
AGE
55
TENURE
13.8 yrs

Gustavo Mariani

TITLE
CEO, Executive VP & Vice Chairman
AGE
49
TENURE
3.9 yrs

Gabriel Cohen

TITLE
CFO & Director
AGE
55
TENURE
13.8 yrs

Mauricio Penta

TITLE
Executive Director of Administration
AGE
43
TENURE
2 yrs

María Carolina Sigwald

TITLE
Executive Director of Legal Affairs & Director
AGE
52
TENURE
1 yrs

Ricardo Torres

TITLE
Executive VP & Director
AGE
61
TENURE
14.4 yrs

Damián Miguel Mindlin

TITLE
Executive VP & Director
AGE
53
TENURE
14.4 yrs

Mariano Batistella

TITLE
Executive Director of Strategy
AGE
37
TENURE
7 yrs

Horacio Jorge Tomás Turri

TITLE
Executive Director of Oil and Gas & Alternate Director
AGE
58

Jos Daniel Abelovich

TITLE
Statutory Auditor
AGE
63
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
09. Dec 19 Sell Marcos Marcelo Mindlin Individual 14. Jun 19 18. Jun 19 -106,170 €29.29 €-3,047,522
09. Dec 19 Buy Marcos Marcelo Mindlin Individual 27. Aug 19 29. Oct 19 923,156 €15.71 €12,682,447
X
Management checks
We assess Pampa Energía's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pampa Energía has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Pampa Energía S.A., an integrated electricity company, engages in the generation, transmission, and distribution of electricity in Argentina. It operates through Electricity Generation, Electricity Distribution, Oil and Gas, Refining and Distribution, Petrochemicals, and Holding and Other Business segments. The company generates electricity through combined cycle gas-fired generating units, thermal generation plants, open-cycle gas turbines, and hydroelectric power generation systems, as well as through a wind farm. As of December 31, 2018, it had an electricity generation installed capacity of approximately 3,871 megawatts; 3 million electricity distribution customers in the northern region of the City of Buenos Aires and Northwestern Greater Buenos Aires area; and 20,944 kilometers of high voltage transmission lines. The company is also involved in the exploration and production, and refining and distribution of oil and gas. In addition, it offers petrochemicals, such as intermediate gasoline products, aromatic solvents, hexane and other hydrogenated paraffinic solvents, and propellants for the cosmetic industry; monomer styrene; and rubber and polymer products from natural gas, virgin naphtha, propane, and other supplies. As of December 31, 2018, the company had combined crude oil and natural gas proved reserves of approximately 130.3 million barrels of oil equivalent; one fully owned refinery with an installed capacity of approximately 25.8 thousand barrels per day; and one storage facility with a capacity of approximately 1.2 million barrels. It also operated a network of 84 gas stations. The company was formerly known as Pampa Holding S.A. and changed its name to Pampa Energía S.A. in September 2008. Pampa Energía S.A. was founded in 1945 and is based in Buenos Aires, Argentina.

Details
Name: Pampa Energía S.A.
9PAA
Exchange: DB
Founded: 1945
ARS906,491,593
1,622,925,000
Website: http://www.pampaenergia.com
Address: Pampa Energía S.A.
Maipú 1,
Buenos Aires,
Capital Federal, C1084ABA,
Argentina
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BASE PAMP Common Stock Buenos Aires Stock Exchange AR ARS 12. Jul 1994
OTCPK PMPA.F Common Stock Pink Sheets LLC US USD 12. Jul 1994
NYSE PAM SPONS ADR EACH REPR 25 SHS New York Stock Exchange US USD 06. Nov 2006
DB 9PAA SPONS ADR EACH REPR 25 SHS Deutsche Boerse AG DE EUR 06. Nov 2006
BST 9PAA SPONS ADR EACH REPR 25 SHS Boerse-Stuttgart DE EUR 06. Nov 2006
BMV PAMP N SPONS ADR EACH REPR 25 SHS Bolsa Mexicana de Valores MX MXN 06. Nov 2006
Number of employees
Current staff
Staff numbers
0
Pampa Energía employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 00:30
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/03/13
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.