YPF vs. PAM

Last updated Apr 1, 2026

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

Performance

YPF vs. PAM - Performance Comparison

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

YPF vs. PAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YPF YPF Sociedad Anónima	27.82%	-14.94%	147.29%	87.05%	140.58%	-18.72%	-59.41%	-12.86%	-41.18%	39.31%
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%

Fundamentals

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

Returns By Period

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

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%

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

YPF vs. PAM — Risk / Return Rank

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

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

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.

YPF vs. PAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YPF Sociedad Anónima (YPF) 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.

	YPF	PAM	Difference
Sharpe ratio Return per unit of total volatility	0.56	0.26	+0.29
Sortino ratio Return per unit of downside risk	1.24	0.83	+0.41
Omega ratio Gain probability vs. loss probability	1.16	1.10	+0.05
Calmar ratio Return relative to maximum drawdown	0.65	0.34	+0.31
Martin ratio Return relative to average drawdown	1.65	0.79	+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.

YPF vs. PAM - Sharpe Ratio Comparison

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

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

Correlation

The correlation between YPF and PAM 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

YPF vs. PAM - Dividend Comparison

Neither YPF nor PAM has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
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%

Drawdowns

YPF vs. PAM - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

YPF vs. PAM - Volatility Comparison

YPF Sociedad Anónima (YPF) and Pampa Energía S.A. (PAM) have volatilities of 11.08% and 11.03%, 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

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

Financials

YPF vs. PAM - Profitability Comparison

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

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 - 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 - 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 - 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 - 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%.

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%.