Pampa Energía S.A. (PAM) Balance Sheet
PAM balance sheet, 2025
December 31, 2025 · U.S. dollars$6.61B assets = $3.00B liabilities + $3.61B equity
Both columns are drawn to the same scale: what PAM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PAM financial health
Descriptive bands, not a rating. Fiscal 2025.
PAM balance sheet trends, 2024–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.34B2024 | $6.61B2025 | +4.2%/yr | |
| Total liabilities | $3.05B2024 | $3.00B2025 | −1.7%/yr | |
| Shareholders’ equity | $3.29B2024 | $3.60B2025 | +9.7%/yr | |
| Cash & short-term investments | $1.67B2024 | $1.09B2025 | −34.4%/yr | |
| Total debt | $2.09B2024 | $1.93B2025 | −7.7%/yr | |
| Net cash (debt) | −$426.0M2024 | −$839.7M2025 | −$413.7M | |
| Working capital | $1.08B2024 | $1.35B2025 | +$275.4M | |
| Book value per share | $60.402024 | $66.262025 | +9.7%/yr | |
| Current ratio | 1.832024 | 3.112025 | +1.29 | |
| Debt / equity | 0.642024 | 0.542025 | −0.10 | |
| Shares outstanding | 54.4M2024 | 54.4M2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PAM assets
PAM liabilities and equity
PAM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PAM balance sheet
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $1.09B | $1.67B |
| Cash & equivalents | $726.4M | $738.0M |
| Short-term investments | $367.3M | $930.0M |
| Receivables | $597.3M | $354.0M |
| Inventory | $231.2M | $217.0M |
| Other current assets | $70.5M | $140.0M |
| Total current assets | $1.99B | $2.38B |
| Property, plant & equipment (net) | $3.35B | $2.62B |
| Goodwill & intangible assets | $89.8M | $95.0M |
| Long-term investments | $1.09B | $1.02B |
| Other non-current assets | $89.9M | $232.0M |
| Total assets | $6.61B | $6.34B |
| Liabilities | ||
| Accounts payable | $342.8M | $233.0M |
| Short-term debt | $69.7M | $710.0M |
| Deferred revenue | $13.4M | $13.9M |
| Total current liabilities | $640.2M | $1.30B |
| Long-term debt | $1.86B | $1.43T |
| Lease obligations | $36.0M | $15.0M |
| Other long-term liabilities | $498.4M | $0 |
| Total liabilities | $3.00B | $3.05B |
| Shareholders' equity | ||
| Common stock & paid-in capital | $936,927 | $36.0M |
| Retained earnings (deficit) | $352.4M | $742.0M |
| Accumulated other comprehensive income | $3.28B | $1.81B |
| Minority interest | $9.0M | $9.0M |
| Total shareholders' equity | $3.60B | $3.29B |
| Key figures | ||
| Total debt | $1.93B | $2.09B |
| Net cash (debt) | −$839.7M | −$426.0M |
| Working capital | $1.35B | $1.08B |
| Tangible book value | $3.51B | $3.19B |
| Book value per share | $66.26 | $60.40 |
| Shares outstanding | 54.4M | 54.4M |
| Current ratio | 3.11 | 1.83 |
| Quick ratio | 2.64 | 1.55 |
| Debt / equity | 0.54 | 0.64 |
| Equity / assets | 54.5% | 51.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $1.28B | $677.0M | $1.09B | $886.0M | $879.0M | $1.11B | $1.67B |
| Cash & equivalents | $979.0M | $236.0M | $726.4M | $413.6M | $161.0M | $361.0M | $738.0M |
| Short-term investments | $302.0M | $441.0M | $367.3M | $472.4M | $718.0M | $754.0M | $930.0M |
| Receivables | $912.3M | $531.0M | $597.3M | $604.0M | $490.0M | $453.0M | $354.0M |
| Inventory | $283.0M | $226.0M | $231.2M | $257.2M | $227.0M | $240.0M | $217.0M |
| Other current assets | $35.7M | $427.0M | $70.5M | $214.8M | $163.0M | $87.0M | $140.0M |
| Total current assets | $2.51B | $1.86B | $1.99B | $1.96B | $1.76B | $1.90B | $2.38B |
| Property, plant & equipment (net) | $3.50B | $3.41B | $3.35B | $3.11B | $2.93B | $2.69B | $2.62B |
| Goodwill & intangible assets | $87.0M | $88.0M | $89.8M | $90.4M | $93.9M | $95.0M | $95.0M |
| Long-term investments | $1.39B | $1.29B | $1.09B | $1.03B | $1.08B | $1.13B | $1.02B |
| Other non-current assets | $260.0M | $359.0M | $89.9M | $74.5M | $253.1M | $384.0M | $232.0M |
| Total assets | $7.75B | $7.02B | $6.61B | $6.27B | $6.12B | $6.20B | $6.34B |
| Liabilities | |||||||
| Accounts payable | $312.0M | $310.0M | $342.8M | $292.5M | $339.0M | $293.0M | $233.0M |
| Short-term debt | $42.0M | $60.0M | $69.7M | $306.8M | $226.0M | $357.0M | $710.0M |
| Deferred revenue | — | $13.4M | $13.4M | $15.4M | — | — | $13.9M |
| Total current liabilities | $690.0M | $912.0M | $640.2M | $732.8M | $651.0M | $1.04B | $1.30B |
| Long-term debt | $2.58B | $1.84B | $1.86B | $2.06T | $1.66T | $1.45T | $1.43T |
| Lease obligations | — | $31.0M | $36.0M | $41.0M | $15.0M | $4.0M | $15.0M |
| Other long-term liabilities | $444.0M | $474.0M | $498.4M | $0 | $0 | $0 | $0 |
| Total liabilities | $3.71B | $3.23B | $3.00B | $2.81B | $2.63B | $2.72B | $3.05B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $35.0M | $36.0M | $936,927 | $990,892 | $36.0M | $36.0M | $36.0M |
| Retained earnings (deficit) | $456.0M | $639.0M | $352.4M | $182.6M | $188.0M | $912.0M | $742.0M |
| Accumulated other comprehensive income | $2.84B | $2.45B | $3.28B | $3.27B | $2.56B | $1.82B | $1.81B |
| Minority interest | $13.0M | $11.0M | $9.0M | $9.0M | $9.0M | — | — |
| Total shareholders' equity | $4.03B | $3.78B | $3.60B | $3.45B | $3.48B | $3.47B | $3.29B |
| Key figures | |||||||
| Total debt | $2.63B | $1.91B | $1.93B | $1.81B | $1.61B | $1.70B | $2.09B |
| Net cash (debt) | −$1.35B | −$1.23B | −$839.7M | −$919.9M | −$727.0M | −$580.0M | −$426.0M |
| Working capital | $1.82B | $949.0M | $1.35B | $1.23B | $1.11B | $856.0M | $1.08B |
| Tangible book value | $3.94B | $3.69B | $3.51B | $3.36B | $3.39B | $3.38B | $3.19B |
| Book value per share | $74.03 | $69.45 | $66.28 | $63.46 | $64.06 | $63.82 | $60.40 |
| Shares outstanding | 54.4M | 54.4M | 54.4M | 54.4M | 54.4M | 54.4M | 54.4M |
| Current ratio | 3.64 | 2.04 | 3.11 | 2.68 | 2.70 | 1.82 | 1.83 |
| Quick ratio | 3.18 | 1.32 | 2.64 | 2.03 | 2.10 | 1.51 | 1.55 |
| Debt / equity | 0.65 | 0.51 | 0.54 | 0.52 | 0.46 | 0.49 | 0.64 |
| Equity / assets | 52.0% | 53.8% | 54.5% | 55.0% | 56.9% | 56.0% | 51.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 9, 2026); data from EODHD.
PAM financial position
At the end of fiscal 2025 (December 31, 2025), Pampa Energía had total assets of $6.6 billion (up 4.2% from a year earlier), total liabilities of $3.0 billion and shareholders' equity of $3.6 billion. It held $1.1 billion in cash and short-term investments against $1.9 billion of debt, net debt of $839.7 million. Its current ratio was 3.11. In the latest quarter (ended June 30, 2026) total assets were $7.7 billion and equity $4.0 billion.
Related: PAM income statement, PAM cash flow statement, PAM key metrics. See the PAM stock overview for the latest quote and news.
PAM balance sheet FAQ
What are Pampa Energía's total assets?
Pampa Energía reported total assets of $6.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.3 billion a year earlier.
How much debt does Pampa Energía have?
Pampa Energía had $1.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.54.
How much cash does Pampa Energía have?
Pampa Energía held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $1.9 billion of debt that is net debt of $839.7 million.
What is Pampa Energía's book value?
Pampa Energía's shareholders' equity (book value) was $3.6 billion at the end of fiscal 2025, or $66.26 per share.
What is Pampa Energía's current ratio?
Pampa Energía had current assets of $2.0 billion and current liabilities of $640.2 million, a current ratio of 3.11 (it can cover its short-term obligations).
How much goodwill does Pampa Energía have?
Pampa Energía carried $89.8 million of goodwill and intangible assets, 1.4% of total assets, at the end of fiscal 2025.