Financials Pampa Energía S.A.

Equities

PAMP

ARP432631215

Electric Utilities

End-of-day quote Buenos Aires S.E. 23:00:00 28/04/2024 BST 5-day change 1st Jan Change
1,962 ARS +2.55% Intraday chart for Pampa Energía S.A. +0.05% +1.58%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 84,892 119,953 229,776 608,646 2,632,231 2,647,358 - -
Enterprise Value (EV) 1 166,132 222,219 318,725 608,646 2,632,231 3,841,997 4,116,662 3,860,317
P/E ratio 2.71 x -3.81 x 8.58 x 9.37 x 76.5 x - - -
Yield - - - - - - - -
Capitalization / Revenue 0.55 x 1.57 x 1.59 x 2.51 x 5.12 x 1.53 x 1.37 x 1.16 x
EV / Revenue 1.07 x 2.9 x 2.2 x 2.51 x 5.12 x 2.23 x 2.13 x 1.69 x
EV / EBITDA 2.9 x 3.26 x 3.24 x 3.35 x 4.04 x 4.65 x 4.38 x 3.55 x
EV / FCF 18.7 x 5.14 x 5.56 x - - 40.1 x 11.3 x 7.51 x
FCF Yield 5.36% 19.5% 18% - - 2.49% 8.83% 13.3%
Price to Book 0.78 x - 1.27 x - - 0.69 x 0.59 x 0.51 x
Nbr of stocks (in thousands) 1,704,650 1,544,786 1,382,527 1,383,600 1,362,720 1,359,641 - -
Reference price 2 49.80 77.65 166.2 439.9 1,932 1,947 1,947 1,947
Announcement Date 10/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1ARS in Million2ARS
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 154,642 76,639 144,641 242,182 513,727 1,724,770 1,932,070 2,290,195
EBITDA 1 57,266 68,089 98,443 181,937 651,228 826,378 939,592 1,087,418
EBIT 1 23,535 28,549 56,426 88,451 117,754 549,763 661,269 768,673
Operating Margin 15.22% 37.25% 39.01% 36.52% 22.92% 31.87% 34.23% 33.56%
Earnings before Tax (EBT) 1 45,431 12,487 38,216 84,289 169,248 448,656 429,597 395,047
Net income 1 33,012 -31,447 27,097 64,859 34,488 329,335 350,096 -
Net margin 21.35% -41.03% 18.73% 26.78% 6.71% 19.09% 18.12% -
EPS 18.35 -20.40 19.38 46.97 25.25 - - -
Free Cash Flow 1 8,898 43,230 57,333 - - 95,725 363,395 513,810
FCF margin 5.75% 56.41% 39.64% - - 5.55% 18.81% 22.44%
FCF Conversion (EBITDA) 15.54% 63.49% 58.24% - - 11.58% 38.68% 47.25%
FCF Conversion (Net income) 26.95% - 211.59% - - 29.07% 103.8% -
Dividend per Share 2 - - - - - - - -
Announcement Date 10/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1ARS in Million2ARS
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 42,529 40,901 44,011 55,512 69,225 73,434 83,915 110,341 152,701 166,770 379,019 360,670 412,163 352,447
EBITDA 1 26,238 21,647 26,380 33,964 39,200 36,668 47,085 63,315 85,400 115,022 171,225 170,262 215,254 169,300
EBIT 1 20,510 11,470 14,481 - - 27,043 26,160 35,344 53,105 3,145 103,629 101,389 144,822 106,527
Operating Margin 48.23% 28.04% 32.9% - - 36.83% 31.17% 32.03% 34.78% 1.89% 27.34% 28.11% 35.14% 30.23%
Earnings before Tax (EBT) 1 - - - - - - 26,285 - 64,082 28,851 89,879 - - -
Net income 1 - 4,520 - 8,165 23,979 22,411 26,918 42,179 50,611 -85,220 68,379 73,351 102,730 61,954
Net margin - 11.05% - 14.71% 34.64% 30.52% 32.08% 38.23% 33.14% -51.1% 18.04% 20.34% 24.92% 17.58%
EPS 9.060 3.260 - - - - - - 37.21 -62.66 - - - -
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 10/11/21 10/03/22 12/05/22 11/08/22 07/11/22 09/03/23 10/05/23 09/08/23 08/11/23 06/03/24 - - - -
1ARS in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 81,240 102,266 88,949 - - 1,194,639 1,469,304 1,212,959
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.419 x 1.502 x 0.9036 x - - 1.446 x 1.564 x 1.115 x
Free Cash Flow 1 8,898 43,230 57,333 - - 95,725 363,395 513,810
ROE (net income / shareholders' equity) 39.7% 15.1% 17.8% - - 12.9% 11.7% 140%
ROA (Net income/ Total Assets) 11.9% - 6.71% - - 1.84% 3.7% 3.58%
Assets 1 277,132 - 404,071 - - 17,898,618 9,469,726 -
Book Value Per Share 2 63.80 - 131.0 - - 2,819 3,278 3,794
Cash Flow per Share - 32.80 51.30 - - - - -
Capex 1 28,813 11,292 22,583 - - 565,446 439,707 470,373
Capex / Sales 18.63% 14.73% 15.61% - - 32.78% 22.76% 20.54%
Announcement Date 10/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1ARS in Million2ARS
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
1,947 ARS
Average target price
3,097 ARS
Spread / Average Target
+59.07%
Consensus
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