stockrowPampa Energia S.A.
Pampa Energia S.A.’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 6.50% from fiscal 2024.
- Revenue
- +33.7%
- EPS
- +491.3%
- Free cash flow
- −965.1%
- Total debt
- +57.6%
Quarter to September 2026, against a year earlier
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Pampa Energia S.A. (PAM) Altman Z-score
Pampa Energia S.A.'s Altman Z-score for fiscal 2025 is 1.77, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.77 | (0.01) |
| FY2024 | 1.79 | 0.12 |
| FY2023 | 1.66 | 0.13 |
| FY2022 | 1.53 | 0.05 |
| FY2021 | 1.48 | 0.77 |
| FY2020 | 0.72 | (0.27) |
| FY2019 | 0.98 | (0.43) |
| FY2018 | 1.41 | (0.06) |
| FY2017 | 1.47 | 0.83 |
| FY2016 | 0.64 | 0.16 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.20 | — | 0.25 | |
| Retained earnings / total assets | 0.05 | — | 0.07 | |
| EBIT / total assets | 0.06 | — | 0.18 | |
| Market value of equity / total liabilities | 1.61 | — | 0.97 | |
| Sales / total assets | 0.30 | — | 0.30 | |
| Altman Z-score | Distress zone | 1.77 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.16 | ||
Z and Z″ put Pampa Energia S.A. in different zones: distress zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FBYD Falcon's Beyond Global, Inc. compare | 6.5× |
| VMI Valmont Industries, Inc. compare | 6.0× |
| SEB Seaboard Corporation compare | 3.4× |
| GHC Graham Holdings Company compare | 3.0× |
| OTTR Otter Tail Corporation compare | 2.1× |
| PAM Pampa Energia S.A. | 1.8× |
| DLX Deluxe Corporation compare | 1.5× |
| BBUC Brookfield Business Partners L.P. compare | 0.7× |
| CODI Compass Diversified Holdings compare | 0.3× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on PAM
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement