Pampa Energia (STU:9PAA) Cyclically Adjusted PB Ratio: 5.49 (As of Aug. 23, 2026) — 38% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

STU:9PAA Pampa Energia SA STU:9PAA
83 GF Score
Price €68.00
GF Value €117.84
Valuation Possible Value Trap
! 8 Warning Signs
View Full Analysis

What is Pampa Energia Cyclically Adjusted PB Ratio?

Pampa Energia STU:9PAA 83 Cyclically Adjusted PB Ratio is 5.49 as of Aug. 23, 2026, which is 38% below its 10-year median of 8.88. GuruFocus rates STU:9PAA with a GF Score™ of 83/100 and a GF Value™ of €117.84 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 433 Conglomerates companies, Pampa Energia ranks worse than 93.3% on this metric.

As of today (2026-08-23), Pampa Energia's current share price is €68.00. Pampa Energia's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was €12.39. Pampa Energia's Cyclically Adjusted PB Ratio for today is 5.49.

The historical rank and industry rank for Pampa Energia's Cyclically Adjusted PB Ratio or its related term are showing as below:

STU:9PAA' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.39   Med: 8.88   Max: 23.45
Current: 5.7

During the past years, Pampa Energia's highest Cyclically Adjusted PB Ratio was 23.45. The lowest was 3.39. And the median was 8.88.

STU:9PAA's Cyclically Adjusted PB Ratio is ranked worse than
93.3% of 433 companies
in the Conglomerates industry
Industry Median: 1.01 vs STU:9PAA: 5.70

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Pampa Energia's adjusted book value per share data for the three months ended in Jun. 2026 was €65.208. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €12.39 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pampa Energia  (STU:9PAA) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Pampa Energia Cyclically Adjusted PB Ratio Related Terms


Pampa Energia Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Pampa Energia's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Pampa Energia Cyclically Adjusted PB Ratio Chart

Pampa Energia Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.52 8.35 17.87 12.92 7.99

Pampa Energia Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.05 6.54 7.99 6.78 5.77

STU:9PAA vs MMM, HON: Cyclically Adjusted PB Ratio Comparison

For the Conglomerates subindustry, Pampa Energia's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Pampa Energia Cyclically Adjusted PB Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Pampa Energia's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Pampa Energia's Cyclically Adjusted PB Ratio falls into.


STU:9PAA
83GF Score
Pampa Energia SA STU:9PAA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pampa Energia Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Pampa Energia's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=68.00/12.39
=5.49

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Pampa Energia's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Pampa Energia's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=65.208/333.9520*333.9520
=65.208

Current CPI (Jun. 2026) = 333.9520.

Pampa Energia Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.142 241.428 7.113
201612 8.886 241.432 12.291
201703 10.566 243.801 14.473
201706 9.474 244.955 12.916
201709 9.233 246.819 12.492
201712 33.835 246.524 45.834
201803 10.935 249.554 14.633
201806 3.942 251.989 5.224
201809 0.208 252.439 0.275
201812 16.014 251.233 21.287
201903 17.221 254.202 22.624
201906 23.655 256.143 30.841
201909 24.802 256.759 32.259
201912 25.719 256.974 33.423
202003 26.289 258.115 34.013
202006 26.047 257.797 33.741
202009 27.051 260.280 34.708
202012 20.222 260.474 25.926
202103 21.457 264.877 27.053
202106 23.374 271.696 28.730
202109 26.363 274.310 32.095
202112 28.566 278.802 34.217
202203 31.544 287.504 36.640
202206 34.255 296.311 38.606
202209 40.144 296.808 45.168
202212 38.946 296.797 43.822
202303 41.231 301.836 45.618
202306 44.216 305.109 48.396
202309 47.517 307.789 51.556
202312 40.534 306.746 44.129
202403 48.134 312.332 51.466
202406 51.438 314.175 54.676
202409 53.059 315.301 56.198
202412 57.701 315.605 61.055
202503 59.482 319.799 62.114
202506 55.556 322.561 57.518
202509 53.781 324.800 55.296
202512 56.469 324.054 58.194
202603 60.091 330.213 60.771
202606 65.208 333.952 65.208

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 5.49 mean?
Pampa Energia (STU:9PAA) has a Cyclically Adjusted PB Ratio of 5.49 as of Aug. 23, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Pampa Energia and its competitors. This is 38% below median its historical median of 8.88. Over the past decade, Pampa Energia's Cyclically Adjusted PB Ratio has ranged from 3.39 to 23.45. According to the industry distribution chart, Pampa Energia ranks #404 out of 433 companies in the Conglomerates industry, placing it in the top 93.3%.
Is Pampa Energia's Cyclically Adjusted PB Ratio too high?
Pampa Energia's current Cyclically Adjusted PB Ratio of 5.49 is 38% below median its 10-year median of 8.88. Over the past 10 years, this metric has ranged from a low of 3.39 to a high of 23.45. The Conglomerates industry median Cyclically Adjusted PB Ratio is 1.01. Pampa Energia's value of 5.49 is 443.6% above this industry median. Based on the distribution chart, Pampa Energia ranks #404 out of 433 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, Pampa Energia has a GF Score™ of 83/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Pampa Energia's Cyclically Adjusted PB Ratio compare to MMM and HON?
According to the Conglomerates industry distribution chart, Pampa Energia ranks #404 out of 433 companies for Cyclically Adjusted PB Ratio. This places Pampa Energia in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.01. Pampa Energia's value of 5.49 is 443.6% above this benchmark. Historically, Pampa Energia's own Cyclically Adjusted PB Ratio has ranged from 3.39 to 23.45 over the past decade. While the company's 10-year median is 8.88 vs. the industry median of 1.01, Pampa Energia has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Conglomerates company?
The median Cyclically Adjusted PB Ratio among Conglomerates companies is 1.01, based on 433 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pampa Energia's current Cyclically Adjusted PB Ratio of 5.49 is 443.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Pampa Energia and its competitors. For the Conglomerates industry, the median Cyclically Adjusted PB Ratio is 1.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pampa Energia's current Cyclically Adjusted PB Ratio is 5.49, which is 38% below median its own 10-year median of 8.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pampa Energia stock overvalued right now?
Based on GuruFocus' analysis, Pampa Energia (STU:9PAA) is currently considered Possible Value Trap. The stock's GF Value™ is €117.84, compared to a current price of €68.00 — trading 42.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 5.49, which is 38% below median its 10-year median of 8.88 and 443.6% above the Conglomerates industry median of 1.01. Pampa Energia's overall GF Score™ is 83/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Pampa Energia (STU:9PAA), the current Cyclically Adjusted PB Ratio is 5.49 as of Aug. 23, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Pampa Energia (STU:9PAA) Overvalued in 2026?

Based on GuruFocus' analysis, Pampa Energia stock appears to be undervalued. The current stock price of €68.00 is trading 42.3% below its estimated GF Value™ of €117.84. GuruFocus considers Pampa Energia to be Possible Value Trap.

Key valuation signals for STU:9PAA:

  • Cyclically Adjusted PB Ratio: 5.49 (38% below median its 10-year median of 8.88)
  • GF Value™: €117.84 vs. price of €68.00 (42.3% below fair value)
  • GF Score™: 83/100 with 8 warning signs
  • Industry Position: 443.6% above the Conglomerates median (#404 of 433)

No single metric tells the full story. See the STU:9PAA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pampa Energia Business Description

Other Exchanges PAM:USAPAMP:Argentina
Address Maipu 1, Buenos Aires, ARG, C1084ABA
Pampa Energia SA and its subsidiaries are engaged in the Energy business, mainly in oil and gas production and power generation. The firm's operating business segments are Oil and Gas, Generation, Petrochemicals, Holding, Transportation, and Others. The company derives the maximum revenue from the oil and gas segment.
83GF Score

Get the complete analysis for STU:9PAA

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€68.00
Price
€117.84
GF Value