PAM vs. YPF

Last updated Apr 1, 2026

Compare and contrast key facts about Pampa Energía S.A. (PAM) and YPF Sociedad Anónima (YPF).

Performance

PAM vs. YPF - Performance Comparison

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

PAM vs. YPF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAM Pampa Energía S.A.	-0.01%	0.65%	77.58%	55.04%	51.30%	53.19%	-16.13%	-48.35%	-52.72%	93.28%
YPF YPF Sociedad Anónima	27.82%	-14.94%	147.29%	87.05%	140.58%	-18.72%	-59.41%	-12.86%	-41.18%	39.31%

Fundamentals

Market Cap PAM : $4.81B YPF : $18.10B
EPS PAM : $7.11 YPF : -$619.86
PS Ratio PAM : 2.39 YPF : 0.00
PB Ratio PAM : 1.34 YPF : 1.67
Total Revenue (TTM) PAM : $2.01B YPF : $16.69T
Gross Profit (TTM) PAM : $659.22M YPF : $4.54T
EBITDA (TTM) PAM : $1.06B YPF : $4.23T

Returns By Period

In the year-to-date period, PAM achieves a -0.01% return, which is significantly lower than YPF's 27.82% return. Over the past 10 years, PAM has outperformed YPF with an annualized return of 15.20%, while YPF has yielded a comparatively lower 10.45% annualized return.

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%

YPF

• 1D: 0.22%
• 1M: 30.60%
• YTD: 27.82%
• 6M: 90.28%
• 1Y: 31.91%
• 3Y*: 61.46%
• 5Y*: 61.25%
• 10Y*: 10.45%

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

Return for Risk

PAM vs. YPF — Risk / Return Rank

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

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

YPF

YPF Risk / Return Rank: 60
YPF Sharpe Ratio Rank: 62
YPF Sortino Ratio Rank: 63
YPF Omega Ratio Rank: 61
YPF Calmar Ratio Rank: 58
YPF Martin Ratio Rank: 59

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.

PAM vs. YPF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pampa Energía S.A. (PAM) and YPF Sociedad Anónima (YPF). 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.

	PAM	YPF	Difference
Sharpe ratio Return per unit of total volatility	0.26	0.56	-0.29
Sortino ratio Return per unit of downside risk	0.83	1.24	-0.41
Omega ratio Gain probability vs. loss probability	1.10	1.16	-0.05
Calmar ratio Return relative to maximum drawdown	0.34	0.65	-0.31
Martin ratio Return relative to average drawdown	0.79	1.65	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAM vs. YPF - Sharpe Ratio Comparison

The current PAM Sharpe Ratio is 0.26, which is lower than the YPF Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of PAM and YPF, 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

	PAM	YPF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	0.56	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	1.12	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.19	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.16	+0.10

Correlation

The correlation between PAM and YPF is 0.52, 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

PAM vs. YPF - Dividend Comparison

Neither PAM nor YPF has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAM Pampa Energía S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YPF YPF Sociedad Anónima	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.19%	0.60%	0.32%	0.66%	0.80%

Drawdowns

PAM vs. YPF - Drawdown Comparison

The maximum PAM drawdown since its inception was -87.41%, smaller than the maximum YPF drawdown of -94.58%. Use the drawdown chart below to compare losses from any high point for PAM and YPF.

Drawdown Indicators

	PAM	YPF	Difference
Max Drawdown Largest peak-to-trough decline	-87.41%	-94.58%	+7.17%
Max Drawdown (1Y) Largest decline over 1 year	-33.53%	-36.23%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-40.40%	-49.13%	+8.73%
Max Drawdown (10Y) Largest decline over 10 years	-87.41%	-90.08%	+2.67%
Current Drawdown Current decline from peak	-6.72%	-2.44%	-4.28%
Average Drawdown Average peak-to-trough decline	-42.77%	-39.31%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.50%	14.35%	+0.15%

Volatility

PAM vs. YPF - Volatility Comparison

Pampa Energía S.A. (PAM) and YPF Sociedad Anónima (YPF) have volatilities of 11.03% and 11.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAM	YPF	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.03%	11.08%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	34.14%	35.81%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	55.93%	58.03%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.30%	55.06%	-8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.00%	54.59%	-2.59%

Financials

PAM vs. YPF - Profitability Comparison

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

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%.

YPF - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, YPF Sociedad Anónima reported a gross profit of 1.31B and revenue of 4.54B. Therefore, the gross margin over that period was 28.9%.

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%.

YPF - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, YPF Sociedad Anónima reported an operating income of 584.00M and revenue of 4.54B, resulting in an operating margin of 12.9%.

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%.

YPF - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, YPF Sociedad Anónima reported a net income of -654.00M and revenue of 4.54B, resulting in a net margin of -14.4%.