PAMT CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PAMT CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	433	438	533	514	487	707	947	811	715	598
Operating income	19.9	12.7	41.6	12.5	33.9	100	124	30.3	-36.8	-64.1
Interest expense	3.64	3.9	6.25	8.65	8.82	8.04	7.93	9.18	13.2	17.5
Other non-operating income	1.49	5.85	-4.02	6.22	-1.7	10.3	3.17	7.45	8.46	11.2
Pre-tax income	17.8	14.6	31.3	10.1	23.4	103	119	28.6	-41.5	-70.3
Income tax	6.67	-24.3	7.35	2.22	5.58	26	28.3	10.2	-9.75	-17.7
Net income	11.1	38.9	24	7.9	17.8	76.5	90.7	18.4	-31.8	-52.6
EBITDA	59	55	91	67.7	90.1	155	187	94.9	62.5	19.2
EPS, basic	0.42	1.53	0.98	0.34	0.77	3.37	4.08	0.83	-1.45	-2.48
EPS, diluted	0.41	1.51	0.97	0.33	0.77	3.35	4.04	0.83	-1.45	-2.48
Shares, basic (weighted)	26.7	25.5	24.5	23.5	23	22.7	22.2	22.1	21.9	21.2
Shares, diluted (weighted)	26.8	25.8	24.8	23.7	23.1	22.9	22.4	22.2	21.9	21.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.14	0.22	0.28	0.32	0.34	18.5	74.1	101	68.1	35.2
Short-term investments	27.6	26.7	27.5	29.5	27.9	39.4	41.7	43.2	42.6	48.5
Receivables	56.1	59.1	63.4	61.8	77.7	122	135	80.6	80	66.9
Inventory	1.9	1.66	1.46	1.33	1.35	1.46	2.57	2.32	2.43	2.33
Other current assets	8.78	10.1	10.4	8.67	10.2	11	15.7	13.2	11.6	9.81
Total current assets	100	102	109	106	124	200	281	251	212	171
Property, plant and equipment	277	287	355	387	451	384	464	505	527	517
Lease right-of-use assets								0.1		7.16
Other non-current assets	2.39	3	2.75	4.84	4.25	3.63	4.8	4.7	2.67	9.84
Total assets	380	392	466	498	579	587	749	760	742	698
Accounts payable	16.1	19.6	20	16.6	46.1	43.4	48.9	62.7	31.2	32.8
Accrued liabilities	22.3	17.6	23.5	40.6	26.6	14.1	34.2	16.8	14.6	41.1
Short-term debt	42.8	73.6	63.9	67.6	57.8	49.5	58.8	57.6	73	65.5
Total current liabilities	81.2	111	107	125	130	111	142	137	119	139
Long-term debt	124	99	157	174	228	173	205	204	253	268
Lease liabilities										6.04
Other non-current liabilities				1.48	0.92	0.42	0.1	0.75	0.25	6.04
Total liabilities	286	265	327	364	429	371	449	446	464	487
Total debt	167	173	221	242	286	222	264	262	326	334
Paid-in capital	80.8	81.6	82.8	83.7	84.1	84.5	40.5	40.8	41.2	41.7
Retained earnings	129	168	199	207	225	301	263	282	250	198
Treasury stock	-123	-129	-143	-157	-159	-170	-4	-8.74	-14	-28.9
Other comprehensive income	7.48	7.44		0	0	0	0	0	0
Shareholders' equity	94.2	128	139	134	150	216	300	314	278	210
Total equity	94.2	128	139	134	150	216	300	314	278	210
Total liabilities and equity	380	392	466	498	579	587	749	760	742	698
Shares outstanding	25.8	24.8	24	11.6	11.5	22.3	22.2	22	21.8	20.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	11.1	38.9	24	7.9	17.8	76.5	90.7	18.4	-31.8	-52.6
Depreciation and amortization	39.1	42.3	49.4	55.1	56.2	55	62.8	64.6	99.3	83.3
Stock-based compensation	0.3	0.61	0.73	0.91	0.46	0.44	0.72	0.55	0.72	0.55
Deferred income tax	6.66	-24.6	7.21	1.63	5.36	17.8	14.5	2.89	-11.8	-18.9
Change in receivables	-6.41	-1.3	-5.97	0.88	-17.8	-47.1	-2.15	50.8	-0.09	9.4
Cash from operations	47.7	50.6	82.3	84.3	67.6	102	169	115	59	17.3
Capital expenditures	-86.1	-67.7	-73.9	-79.4	-48.2	-19.1	-64	-34.1	-141	-40.7
Acquisitions					0	0	-65.8	0	0
Purchases of investments	-0.81	-3.21
Sales and maturities of investments	1.55	6.83	1.05	2.98	2.04	3.11	0	0.14	3.66	5.04
Cash from investing	-53.1	-45.3	-55.3	-62.3	-32.7	9.25	-114	-11.3	-100	18.4
Debt issued	83.5	55.4	52.7	60.2	26.8	21.4	74.9	0	80.7	30
Debt repaid	-47.5	-48.1	-82.4	-70.9	-64.4	-75.1	-67.3	-71.1	-66.8	-83.6
Stock issued	0.09	0.12	0.49	0	0
Share buybacks	-21.1	-6.35	-13.4	-14.3	-2.28	-10.8	-7	-4.74	-5.26	-14.9
Cash from financing	5.39	-5.24	-27	-22	-34.9	-92.8	0.29	-76.8	8.59	-68.6
Net change in cash	-0.02	0.09	0.06	0.04	0.02	18.2	55.6	26.5	-32.6	-32.8
Free cash flow	-38.4	-17.1	8.47	4.94	19.4	82.6	105	80.5	-81.7	-23.4
Interest paid	3.6	3.91	6.1	8.61	8.8	8.14	7.84	9.76	13.5	17.4
Income taxes paid	0.29	0.52	0.22	0.67	0.28	3.87	23.2	5.5	0.5	0.64

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $11.75 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-9.1%	Operating income / revenue.
EBITDA margin	3.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-9.5%	Pre-tax income / revenue.
Net margin	-7.1%	Net income / revenue.
FCF margin	-9.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-2.8%	Cash from operations / revenue.
Return on equity (ROE)	-20.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.3%	Net income / average total assets.
Return on invested capital (ROIC)	-8.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.9%	Capital expenditures / revenue.
D&A / revenue	13.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-16.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-14.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-69.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-53.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-26.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-70.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-53.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-23.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-24.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-11.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.32x	Current assets / current liabilities.
Quick ratio	1.19x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.46x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.64x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	49.7%	Total debt / total assets.
Liabilities / assets	69.7%	Total liabilities / total assets.
Net debt	$275.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	12.0x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-2.94x	Operating income / interest expense.
Working capital	$38.8M	Current assets - current liabilities.
Tangible book value	$203.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.89x	Revenue / average total assets.
Fixed asset turnover	1.20x	Revenue / average property, plant and equipment.
Receivables turnover	6.73x	Revenue / average receivables.
Days sales outstanding	54 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.02	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$28.56	Revenue / diluted weighted shares.
FCF per share	-$2.77	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.79	Cash from operations / diluted weighted shares.
Book value per share	$9.70	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.70	Tangible book value / shares outstanding.
Cash per share	$2.72	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$246.1M	Share price x shares outstanding.
Enterprise value	$522.0M	Market cap + total debt - cash - short-term investments.
P/S	0.41x	Market cap / revenue.
P/B	1.21x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.21x	Market cap / tangible book value, when positive.
EV/Sales	0.87x	Enterprise value / revenue.
EV/EBITDA	22.6x	Enterprise value / EBITDA, when both are positive.
FCF yield	-23.5%	Free cash flow / market cap.
Earnings yield	-17.2%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was PAMT CORP's revenue in fiscal 2025?

PAMT CORP reported revenue of $598.1M for fiscal 2025, 16.3% lower than the year before.

Was PAMT CORP profitable in fiscal 2025?

No. It reported a net loss of $52.6M.

How much free cash flow did PAMT CORP generate in fiscal 2025?

Cash from operations of $17.3M minus capital expenditures of $40.7M left free cash flow of -$23.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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