CEPU vs. PAM

Last updated Apr 1, 2026

Compare and contrast key facts about Central Puerto S.A. (CEPU) and Pampa Energía S.A. (PAM).

Performance

CEPU vs. PAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Central Puerto S.A. (CEPU) and Pampa Energía S.A. (PAM). The values are adjusted to include any dividend payments, if applicable.

CEPU vs. PAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CEPU Central Puerto S.A.	-3.83%	20.77%	64.63%	71.30%	95.14%	15.93%	-44.44%	-45.56%	-46.69%
PAM Pampa Energía S.A.	-0.01%	0.65%	77.58%	55.04%	51.30%	53.19%	-16.13%	-48.35%	-50.95%

Fundamentals

Market Cap CEPU : $2.52B PAM : $4.81B
EPS CEPU : $2.24K PAM : $7.11
PE Ratio CEPU : 0.01 PAM : 12.45
PEG Ratio CEPU : 0.00 PAM : 0.13
PS Ratio CEPU : 0.00 PAM : 2.39
PB Ratio CEPU : 0.00 PAM : 1.34
Total Revenue (TTM) CEPU : $1.07T PAM : $2.01B
Gross Profit (TTM) CEPU : $383.74B PAM : $659.22M
EBITDA (TTM) CEPU : $597.88B PAM : $1.06B

Returns By Period

In the year-to-date period, CEPU achieves a -3.83% return, which is significantly lower than PAM's -0.01% return.

CEPU

• 1D: 8.86%
• 1M: 7.27%
• YTD: -3.83%
• 6M: 110.11%
• 1Y: 51.76%
• 3Y*: 53.21%
• 5Y*: 54.40%
• 10Y*: —

PAM

• 1D: 1.90%
• 1M: 13.78%
• YTD: -0.01%
• 6M: 47.35%
• 1Y: 14.64%
• 3Y*: 38.96%
• 5Y*: 42.64%
• 10Y*: 15.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CEPU vs. PAM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CEPU

CEPU Risk / Return Rank: 68
CEPU Sharpe Ratio Rank: 68
CEPU Sortino Ratio Rank: 75
CEPU Omega Ratio Rank: 68
CEPU Calmar Ratio Rank: 64
CEPU Martin Ratio Rank: 65

PAM

PAM Risk / Return Rank: 51
PAM Sharpe Ratio Rank: 52
PAM Sortino Ratio Rank: 52
PAM Omega Ratio Rank: 50
PAM Calmar Ratio Rank: 51
PAM Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEPU vs. PAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Central Puerto S.A. (CEPU) and Pampa Energía S.A. (PAM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CEPU	PAM	Difference
Sharpe ratio Return per unit of total volatility	0.75	0.26	+0.48
Sortino ratio Return per unit of downside risk	1.78	0.83	+0.95
Omega ratio Gain probability vs. loss probability	1.20	1.10	+0.09
Calmar ratio Return relative to maximum drawdown	1.01	0.34	+0.67
Martin ratio Return relative to average drawdown	2.50	0.79	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEPU vs. PAM - Sharpe Ratio Comparison

The current CEPU Sharpe Ratio is 0.75, which is higher than the PAM Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of CEPU and PAM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CEPU	PAM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.26	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.93	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.26	-0.22

Correlation

The correlation between CEPU and PAM is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CEPU vs. PAM - Dividend Comparison

Neither CEPU nor PAM has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CEPU Central Puerto S.A.	0.00%	0.00%	2.87%	8.91%	2.78%	0.00%	0.00%	2.44%	3.70%
PAM Pampa Energía S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CEPU vs. PAM - Drawdown Comparison

The maximum CEPU drawdown since its inception was -88.97%, roughly equal to the maximum PAM drawdown of -87.41%. Use the drawdown chart below to compare losses from any high point for CEPU and PAM.

Drawdown Indicators

	CEPU	PAM	Difference
Max Drawdown Largest peak-to-trough decline	-88.97%	-87.41%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-44.83%	-33.53%	-11.30%
Max Drawdown (5Y) Largest decline over 5 years	-51.70%	-40.40%	-11.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-87.41%	—
Current Drawdown Current decline from peak	-6.24%	-6.72%	+0.48%
Average Drawdown Average peak-to-trough decline	-55.97%	-42.77%	-13.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.16%	14.50%	+3.66%

Volatility

CEPU vs. PAM - Volatility Comparison

Central Puerto S.A. (CEPU) has a higher volatility of 16.70% compared to Pampa Energía S.A. (PAM) at 11.03%. This indicates that CEPU's price experiences larger fluctuations and is considered to be riskier than PAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEPU	PAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.70%	11.03%	+5.67%
Volatility (6M) Calculated over the trailing 6-month period	51.81%	34.14%	+17.67%
Volatility (1Y) Calculated over the trailing 1-year period	69.67%	55.93%	+13.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.35%	46.30%	+11.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.69%	52.00%	+9.69%

Financials

CEPU vs. PAM - Profitability Comparison

The chart below illustrates the profitability comparison between Central Puerto S.A. and Pampa Energía S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CEPU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Central Puerto S.A. reported a gross profit of 94.98B and revenue of 316.97B. Therefore, the gross margin over that period was 30.0%.

PAM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Pampa Energía S.A. reported a gross profit of 138.47M and revenue of 512.12M. Therefore, the gross margin over that period was 27.0%.

CEPU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Central Puerto S.A. reported an operating income of 78.94B and revenue of 316.97B, resulting in an operating margin of 24.9%.

PAM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Pampa Energía S.A. reported an operating income of 73.53M and revenue of 512.12M, resulting in an operating margin of 14.4%.

CEPU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Central Puerto S.A. reported a net income of 23.07B and revenue of 316.97B, resulting in a net margin of 7.3%.

PAM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Pampa Energía S.A. reported a net income of 163.53M and revenue of 512.12M, resulting in a net margin of 31.9%.