PAMT (PAMT)
Market Price (6/23/2026): $13.37 | Market Cap: $279.9 MilSector: Industrials | Industry: Cargo Ground Transportation
PAMT (PAMT)
Market Price (6/23/2026): $13.37Market Cap: $279.9 MilSector: IndustrialsIndustry: Cargo Ground Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -122% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -83 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -15%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -15%, Rev Chg QQuarterly Revenue Change % is -8.7% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.8% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20% Key risksPAMT key risks include [1] severe financial strain from sustained operating losses, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -122% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -83 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -14% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -15%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -15%, Rev Chg QQuarterly Revenue Change % is -8.7% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.8% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -20% |
| Key risksPAMT key risks include [1] severe financial strain from sustained operating losses, Show more. |
Qualitative Assessment
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Updated on 6/17/2026
PAMT (PAMT) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. Significant Reduction in Net Loss for Fiscal Q1 2026. PAMT reported a net loss of $0.01 million for the fiscal quarter ended March 31, 2026, a substantial reduction compared to a net loss of $8.14 million in the prior year's fiscal Q1. This improved financial performance was largely attributed to a one-time, after-tax gain of approximately $9.7 million from the sale of real property in Laredo, Texas.
2. Announcement of Active Share Repurchase Program. The company declared its intention to more actively implement share repurchases during fiscal Q2 2026. This move often signals management's confidence in the company's valuation and can positively impact stock price by reducing the number of outstanding shares.
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PAMT (PAMT) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. Significant Reduction in Net Loss for Fiscal Q1 2026. PAMT reported a net loss of $0.01 million for the fiscal quarter ended March 31, 2026, a substantial reduction compared to a net loss of $8.14 million in the prior year's fiscal Q1. This improved financial performance was largely attributed to a one-time, after-tax gain of approximately $9.7 million from the sale of real property in Laredo, Texas.
2. Announcement of Active Share Repurchase Program. The company declared its intention to more actively implement share repurchases during fiscal Q2 2026. This move often signals management's confidence in the company's valuation and can positively impact stock price by reducing the number of outstanding shares.
Show more
Updated on 6/17/2026
PAMT (PAMT) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. Significant Reduction in Net Loss for Fiscal Q1 2026. PAMT reported a net loss of $0.01 million for the fiscal quarter ended March 31, 2026, a substantial reduction compared to a net loss of $8.14 million in the prior year's fiscal Q1. This improved financial performance was largely attributed to a one-time, after-tax gain of approximately $9.7 million from the sale of real property in Laredo, Texas.
2. Announcement of Active Share Repurchase Program. The company declared its intention to more actively implement share repurchases during fiscal Q2 2026. This move often signals management's confidence in the company's valuation and can positively impact stock price by reducing the number of outstanding shares.
3. Improvement in Operating Ratio. Despite a decrease in consolidated operating revenues by 8.7% to $141.9 million in fiscal Q1 2026, PAMT improved its operating ratio to 95.4% from 98% in the prior year's fiscal Q1. This indicates enhanced operational efficiency and cost management.
4. Strengthened Liquidity from Asset Sale. The sale of a non-core property, generating a $12.7 million gain, significantly strengthened the company's liquidity position and contributed to a decrease in outstanding debt by $13.2 million from December 31, 2025, to March 31, 2026. This improved financial flexibility was also noted as a positive factor by analysts.
Show less
PAMT (PAMT) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. Significant Reduction in Net Loss for Fiscal Q1 2026. PAMT reported a net loss of $0.01 million for the fiscal quarter ended March 31, 2026, a substantial reduction compared to a net loss of $8.14 million in the prior year's fiscal Q1. This improved financial performance was largely attributed to a one-time, after-tax gain of approximately $9.7 million from the sale of real property in Laredo, Texas.
2. Announcement of Active Share Repurchase Program. The company declared its intention to more actively implement share repurchases during fiscal Q2 2026. This move often signals management's confidence in the company's valuation and can positively impact stock price by reducing the number of outstanding shares.
3. Improvement in Operating Ratio. Despite a decrease in consolidated operating revenues by 8.7% to $141.9 million in fiscal Q1 2026, PAMT improved its operating ratio to 95.4% from 98% in the prior year's fiscal Q1. This indicates enhanced operational efficiency and cost management.
4. Strengthened Liquidity from Asset Sale. The sale of a non-core property, generating a $12.7 million gain, significantly strengthened the company's liquidity position and contributed to a decrease in outstanding debt by $13.2 million from December 31, 2025, to March 31, 2026. This improved financial flexibility was also noted as a positive factor by analysts.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 33.4% change in PAMT stock from 2/28/2026 to 6/22/2026 was primarily driven by a 42.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.04 | 13.39 | 33.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 623 | 585 | -6.2% |
| P/S Multiple | 0.3 | 0.5 | 42.3% |
| Shares Outstanding (Mil) | 21 | 21 | 0.0% |
| Cumulative Contribution | 33.4% |
Market Drivers
2/28/2026 to 6/22/2026| Return | Correlation | |
|---|---|---|
| PAMT | 33.4% | |
| Market (SPY) | 8.8% | 33.9% |
| Sector (XLI) | 2.9% | 27.7% |
Fundamental Drivers
The 49.1% change in PAMT stock from 11/30/2025 to 6/22/2026 was primarily driven by a 59.0% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.98 | 13.39 | 49.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 623 | 585 | -6.2% |
| P/S Multiple | 0.3 | 0.5 | 59.0% |
| Shares Outstanding (Mil) | 21 | 21 | 0.0% |
| Cumulative Contribution | 49.1% |
Market Drivers
11/30/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| PAMT | 49.1% | |
| Market (SPY) | 9.5% | 31.4% |
| Sector (XLI) | 19.0% | 30.2% |
Fundamental Drivers
The 6.6% change in PAMT stock from 5/31/2025 to 6/22/2026 was primarily driven by a 20.5% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.56 | 13.39 | 6.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 687 | 585 | -15.0% |
| P/S Multiple | 0.4 | 0.5 | 20.5% |
| Shares Outstanding (Mil) | 22 | 21 | 4.1% |
| Cumulative Contribution | 6.6% |
Market Drivers
5/31/2025 to 6/22/2026| Return | Correlation | |
|---|---|---|
| PAMT | 6.6% | |
| Market (SPY) | 27.7% | 27.9% |
| Sector (XLI) | 29.0% | 32.1% |
Fundamental Drivers
The -48.8% change in PAMT stock from 5/31/2023 to 6/22/2026 was primarily driven by a -38.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6222026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.16 | 13.39 | -48.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 949 | 585 | -38.4% |
| P/S Multiple | 0.6 | 0.5 | -21.4% |
| Shares Outstanding (Mil) | 22 | 21 | 5.8% |
| Cumulative Contribution | -48.8% |
Market Drivers
5/31/2023 to 6/22/2026| Return | Correlation | |
|---|---|---|
| PAMT | -48.8% | |
| Market (SPY) | 85.1% | 20.8% |
| Sector (XLI) | 96.3% | 29.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PAMT Return | 2798% | -27% | -20% | -21% | -26% | 12% | 1006% |
| Peers Return | 46% | -4% | 16% | 0% | -5% | 50% | 130% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| PAMT Win Rate | 83% | 33% | 50% | 42% | 33% | 50% | |
| Peers Win Rate | 72% | 40% | 47% | 48% | 58% | 73% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PAMT Max Drawdown | -21% | -37% | -47% | -38% | -48% | -43% | |
| Peers Max Drawdown | -19% | -27% | -27% | -22% | -36% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KNX, JBHT, SNDR, WERN, CVLG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/22/2026 (YTD)
How Low Can It Go
| Event | PAMT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.5% | -18.8% |
| % Gain to Breakeven | 22.7% | 23.1% |
| Time to Breakeven | 12 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.2% | -6.7% |
| % Gain to Breakeven | 26.9% | 7.1% |
| Time to Breakeven | 36 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.2% | -24.5% |
| % Gain to Breakeven | 45.4% | 32.4% |
| Time to Breakeven | 119 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.4% | -33.7% |
| % Gain to Breakeven | 134.9% | 50.9% |
| Time to Breakeven | 296 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.7% | -19.2% |
| % Gain to Breakeven | 74.5% | 23.8% |
| Time to Breakeven | 296 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -24.6% | -3.7% |
| % Gain to Breakeven | 32.6% | 3.9% |
| Time to Breakeven | 51 days | 6 days |
In The Past
PAMT's stock fell -18.5% during the 2025 US Tariff Shock. Such a loss loss requires a 22.7% gain to breakeven.
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| Event | PAMT | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.2% | -6.7% |
| % Gain to Breakeven | 26.9% | 7.1% |
| Time to Breakeven | 36 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.2% | -24.5% |
| % Gain to Breakeven | 45.4% | 32.4% |
| Time to Breakeven | 119 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -57.4% | -33.7% |
| % Gain to Breakeven | 134.9% | 50.9% |
| Time to Breakeven | 296 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.7% | -19.2% |
| % Gain to Breakeven | 74.5% | 23.8% |
| Time to Breakeven | 296 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -24.6% | -3.7% |
| % Gain to Breakeven | 32.6% | 3.9% |
| Time to Breakeven | 51 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -53.0% | -12.2% |
| % Gain to Breakeven | 113.0% | 13.9% |
| Time to Breakeven | 895 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -38.3% | -6.8% |
| % Gain to Breakeven | 62.1% | 7.3% |
| Time to Breakeven | 670 days | 15 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -81.7% | -53.4% |
| % Gain to Breakeven | 445.9% | 114.4% |
| Time to Breakeven | 416 days | 1085 days |
In The Past
PAMT's stock fell -18.5% during the 2025 US Tariff Shock. Such a loss loss requires a 22.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About PAMT (PAMT)
PAMT CORP is a truckload transportation and logistics company that operates throughout the United States, Mexico, and Canada. The company's core business involves operating as a truckload dry van carrier, responsible for transporting a wide variety of general commodities across these regions.
In addition to its direct transportation services, PAMT also offers brokerage and broader logistics solutions. Its freight primarily serves industries requiring the movement of automotive parts, expedited goods, and consumer products such as general retail store merchandise. The company also handles manufactured goods, including heating and air conditioning units, demonstrating its role in supporting diverse supply chains across North America.
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- A smaller J.B. Hunt Transport Services, focused on dry van freight.
- Like Knight-Swift Transportation, providing truckload hauling for general commodities and logistics.
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- Truckload Transportation: Operating a dry van carrier to transport general commodities across the United States, Mexico, and Canada.
- Brokerage Services: Connecting shippers with carriers to facilitate freight movement.
- Logistics Services: Providing comprehensive supply chain solutions.
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Lance K. Stewart, President and Chief Executive Officer
Lance K. Stewart was appointed President and Chief Executive Officer of PAMT Corp. effective August 4, 2025. He has a long history with the company, having joined its operating subsidiary, P.A.M. Transport, Inc., in 1989. Stewart served in various capacities before being promoted to Vice President of Accounting in 2002. He was Vice President of Accounting and Controller from 2002 to 2010 and was appointed Vice President of Finance, Chief Financial Officer, and Treasurer in 2010, a role he held until 2013. After a brief period away, he returned in 2016, serving as Vice President of Accounting from 2016 to 2020 and then as Vice President of Operations from 2020 until becoming Chief Financial Officer again in April 2023. He also served as interim Chief Financial Officer in March 2023. Daniel C. Kleine, Senior Vice President and Treasurer, Principal Financial Officer and Principal Accounting Officer
Daniel C. Kleine serves as the Principal Financial Officer and Principal Accounting Officer, a role he assumed effective August 4, 2025, until a permanent Chief Financial Officer is named. He was recently promoted to Senior Vice President of Finance and Treasurer. Prior to joining PAMT, Kleine held various finance and tax roles at George's Inc., a poultry company, including tax director from September 2022 to June 2023 and tax accounting manager from October 2020 to September 2022. He was also a senior tax accountant at Frost PLLC in Little Rock, Arkansas, from August 2013 to June 2017. Kleine is a Certified Public Accountant (CPA) and holds bachelor's degrees in accounting and finance, with a minor in economics, and a master's degree in accounting from the University of Arkansas. Matthew T. Moroun, Chairman of the Board
Matthew T. Moroun is the Chairman of the Board of PAMT Corp. He has served as a director of the company since 1992 and as chairman of the board since 2007. Moroun served as interim President and Chief Executive Officer from June 27, 2025, until August 4, 2025, and previously from May to August 2020. He is also chairman for a diversified holding company and an insurance and real estate holding company, and serves as a director and chairman of the board of Universal Logistics. Moroun owns or controls other privately held businesses involved in transportation services, real estate acquisition, development, and management. PAMT is a NASDAQ "controlled company" with more than 50% of its voting power held by Moroun family trusts.
Lance K. Stewart was appointed President and Chief Executive Officer of PAMT Corp. effective August 4, 2025. He has a long history with the company, having joined its operating subsidiary, P.A.M. Transport, Inc., in 1989. Stewart served in various capacities before being promoted to Vice President of Accounting in 2002. He was Vice President of Accounting and Controller from 2002 to 2010 and was appointed Vice President of Finance, Chief Financial Officer, and Treasurer in 2010, a role he held until 2013. After a brief period away, he returned in 2016, serving as Vice President of Accounting from 2016 to 2020 and then as Vice President of Operations from 2020 until becoming Chief Financial Officer again in April 2023. He also served as interim Chief Financial Officer in March 2023. Daniel C. Kleine, Senior Vice President and Treasurer, Principal Financial Officer and Principal Accounting Officer
Daniel C. Kleine serves as the Principal Financial Officer and Principal Accounting Officer, a role he assumed effective August 4, 2025, until a permanent Chief Financial Officer is named. He was recently promoted to Senior Vice President of Finance and Treasurer. Prior to joining PAMT, Kleine held various finance and tax roles at George's Inc., a poultry company, including tax director from September 2022 to June 2023 and tax accounting manager from October 2020 to September 2022. He was also a senior tax accountant at Frost PLLC in Little Rock, Arkansas, from August 2013 to June 2017. Kleine is a Certified Public Accountant (CPA) and holds bachelor's degrees in accounting and finance, with a minor in economics, and a master's degree in accounting from the University of Arkansas. Matthew T. Moroun, Chairman of the Board
Matthew T. Moroun is the Chairman of the Board of PAMT Corp. He has served as a director of the company since 1992 and as chairman of the board since 2007. Moroun served as interim President and Chief Executive Officer from June 27, 2025, until August 4, 2025, and previously from May to August 2020. He is also chairman for a diversified holding company and an insurance and real estate holding company, and serves as a director and chairman of the board of Universal Logistics. Moroun owns or controls other privately held businesses involved in transportation services, real estate acquisition, development, and management. PAMT is a NASDAQ "controlled company" with more than 50% of its voting power held by Moroun family trusts.
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PAMT (PAMT) faces several key risks to its business, primarily stemming from a challenging market environment and its financial structure.
- Challenging Freight Market and Deteriorating Financial Performance: PAMT operates within a highly competitive and fragmented trucking industry that has been experiencing a significant downturn. The company has reported sharply declining revenues, operating losses, and net losses for multiple consecutive quarters due to an oversupply of trucks in the market and reduced freight rates. This challenging environment has led to a decrease in miles traveled and a lower rate per mile for its truckload services.
- High Debt Levels and Covenant Breaches: PAMT has accumulated substantial debt, exacerbated by equipment purchases. The company breached a key debt covenant in the second quarter of 2025, which required it to maintain a debt-to-EBITDA ratio of less than 4:1. While a waiver was secured, these high debt levels and the inability to meet covenant requirements increase financial risk, limit operational flexibility, and have contributed to a worsening net leverage ratio.
- Customer Concentration and Dependence on the Automotive Industry: A significant portion of PAMT's revenue is derived from the automotive industry, making the company highly vulnerable to industry-specific downturns, production cuts, strikes, and potential tariff or cross-border disruptions. Approximately 35% of PAMT's 2025 revenue was tied to the automotive industry, with the top five customers contributing roughly 43% of its revenue, further amplifying the risk associated with customer concentration.
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1. **Autonomous Trucking:** The development and increasing sophistication of autonomous trucking technology pose a significant long-term threat. As autonomous trucks become more reliable and commercially viable, they could drastically reduce operating costs (primarily labor) and increase efficiency for early adopters. This could create a competitive disadvantage for traditional carriers like PAMT that rely on human drivers, potentially rendering their current operational model less competitive or requiring massive capital investment to adapt. Examples include companies like Waymo Via, Aurora, and TuSimple actively developing and testing self-driving trucks for commercial freight.
2. **Digital Freight Platforms and Advanced Brokerage:** The rise of sophisticated digital freight matching platforms and AI-driven logistics providers (e.g., Uber Freight, Convoy, Loadsmart) represents an emerging threat. These platforms leverage technology to optimize load matching, streamline booking processes, and increase transparency, potentially offering shippers more efficient and cost-effective solutions than traditional brokerage and carrier services. While PAMT offers brokerage services, these tech-forward competitors could disrupt established relationships and capture market share by offering superior efficiency and user experience through their digital ecosystems.
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PAMT (P.A.M. Transportation Services, Inc.) operates in the truckload transportation, logistics, and brokerage services markets across the United States, Mexico, and Canada.
Addressable Markets for PAMT's Main Products or Services
Truckload Transportation (Dry Van Carrier)
- United States: The full-truck-load (FTL) market in the United States was valued at approximately USD 448.65 billion in 2025 and is projected to reach USD 463.85 billion in 2026. This market is forecast to grow to USD 547.89 billion by 2031, with a compound annual growth rate (CAGR) of 3.39% from 2026 to 2031. The general freight trucking (truckload) industry in the United States had a market size of USD 267.1 billion in 2026.
- Canada: The Canada truckload market size was valued at USD 15.0 billion in 2025 and is expected to reach USD 24.6 billion by 2034, exhibiting a CAGR of 5.62% during 2026-2034. Another estimate places the Canada truckload market size at USD 14.2 billion in 2024, projected to reach USD 24.4 billion by 2033 with a CAGR of 5.7% from 2025-2033.
- Mexico: The trucking market in Mexico represented over US$93 billion in 2023. Road freight alone held a 60.07% share of the Mexico freight and logistics market in 2025.
Logistics Services
- United States: The U.S. logistics market was valued at USD 485 billion in 2025, expected to reach USD 516.53 billion in 2026, and is projected to be worth USD 854.85 billion by 2034, growing at a CAGR of 6.5% from 2026 to 2034. Another report indicated the U.S. logistics market generated USD 455.4 billion in revenue in 2024 and is expected to reach USD 671.2 billion by 2030, with a CAGR of 6.7% from 2025 to 2030.
- Canada: Canada's logistics market was valued at USD 306.7 billion in 2024 and is projected to grow at a 7.5% CAGR through 2030.
- Mexico: The Mexico freight and logistics market size was valued at USD 124.36 billion in 2025 and is estimated to reach USD 131.06 billion in 2026. It is projected to reach USD 170.39 billion by 2031, growing at a CAGR of 5.39% over 2026-2031. Another source indicated a value of USD 91.47 billion in 2025, projected to reach USD 142.03 billion by 2034 with a CAGR of 5.01% from 2026-2034.
- North America: The North America logistics market was valued at USD 1,478.0 billion in 2024 and is estimated to reach USD 1,768.0 billion by 2033, exhibiting a CAGR of 2.0% during 2025-2033. The United States held a significant market share of 81.9% in 2024 within this market.
Brokerage Services
- United States: The U.S. freight brokerage market was valued at USD 19.68 billion in 2025 and is forecast to reach USD 30.17 billion by 2031, with a CAGR of 7.23% over 2026-2031. Another estimate puts the U.S. freight brokerage market at USD 19.01 billion in 2025, estimated to reach USD 20.64 billion in 2026, and projected to reach USD 39.93 billion by 2034, growing at a CAGR of 8.6% from 2026 to 2034.
- Canada: The Canada Freight Brokerage Services Market size is estimated at USD 1.58 billion in 2025 and is expected to reach USD 2.32 billion by 2030, at a CAGR of 8.05% during the forecast period (2025-2030).
- Mexico: The Mexico Freight Brokerage Services Market size is estimated at USD 1.52 billion in 2025 and is expected to reach USD 2.30 billion by 2030, at a CAGR of 8.71% during the forecast period (2025-2030).
- North America: The North America Freight Brokerage Services Market size is estimated at USD 22.77 billion in 2025 and is expected to reach USD 32.79 billion by 2030, at a CAGR of 7.57% during the forecast period (2025-2030).
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Here are 3-5 expected drivers of future revenue growth for PAMT over the next 2-3 years:
- Recovery in the Overall Truckload Freight Market: PAMT's revenue growth is highly dependent on a rebound in the broader truckload freight market. The company has faced significant headwinds due to a weak freight environment, characterized by industry overcapacity and depressed freight rates. An improvement in the supply-demand balance for truckload services, leading to increased freight volumes and higher pricing power, would be a primary driver of future revenue growth.
- Increased Demand and Stability within the Automotive Sector: A substantial portion of PAMT's revenue, approximately 35% in 2025, is derived from the automotive industry. Sustained increases in automotive production and sales, coupled with the absence of disruptive events such as labor strikes or tariffs that have impacted the sector previously, would directly translate into higher demand for PAMT's specialized transportation services for automotive parts and related goods.
- Growth and Market Share Expansion in Brokerage and Logistics Services: PAMT's brokerage and logistics operations have shown a capacity to help mitigate overall revenue declines during challenging market conditions. Strategic efforts to expand these service offerings, enhance efficiency, or capture a larger market share within the brokerage and logistics segment could serve as a diversified and growing source of future revenue.
- Leveraging Cross-Border Trade Opportunities with Mexico and Canada: As PAMT operates extensively across the United States, Mexico, and Canada, with Mexico contributing significantly to its revenue, an increase in cross-border trade volumes and economic activity within these regions presents a clear opportunity for revenue growth. Enhanced trade flows between these countries would drive greater demand for PAMT's cross-border transportation and logistics solutions.
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Share Repurchases
- PAMT completed a modified "Dutch auction" tender offer in May 2025, repurchasing 870,000 shares at $17.00 per share, totaling approximately $14.8 million.
- As of December 31, 2025, the company had 474,016 shares remaining available for repurchase under its stock repurchase program.
- In 2024, the Board authorized the acquisition of close to 500,000 shares, and the company had acquired approximately 25,900 shares.
Capital Expenditures
- In 2025, PAMT added approximately $107.1 million in revenue equipment, financing $91.9 million of this amount.
- For the full year 2024, capital expenditures consumed approximately $140.8 million of operating cash flow.
- In Q4 2024, purchases of property, plant, and equipment amounted to $55.40 million. These investments are primarily focused on capacity growth and acquiring new equipment to reduce repair costs.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| PAMT Earnings Notes | 12/16/2025 | |
| PAMT Stock Jump Looks Great, But How Secure Is That Gain? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 42.09 |
| Mkt Cap | 4.3 |
| Rev LTM | 4,371 |
| Op Inc LTM | 110 |
| FCF LTM | 126 |
| FCF 3Y Avg | 25 |
| CFO LTM | 437 |
| CFO 3Y Avg | 469 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.2% |
| Rev Chg 3Y Avg | -3.2% |
| Rev Chg Q | 3.0% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | -9.7% |
| Op Inc Chg 3Y Avg | -28.2% |
| Op Mgn LTM | 2.4% |
| Op Mgn 3Y Avg | 3.3% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 10.5% |
| CFO/Rev 3Y Avg | 10.8% |
| FCF/Rev LTM | 2.0% |
| FCF/Rev 3Y Avg | -0.7% |
Price Behavior
Price Behavior
| Market Price | $13.39 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -15.6% | |
| 50 Days | 200 Days | |
| DMA Price | $11.57 | $10.97 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 15.7% | 22.1% |
| 3M | 1YR | |
| Volatility | 71.0% | 62.3% |
| Downside Capture | 113.96 | 159.95 |
| Upside Capture | 212.66 | 123.86 |
| Correlation (SPY) | 29.3% | 27.2% |
PAMT Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.82 | 3.06 | 2.22 | 2.06 | 1.59 | 0.81 |
| Up Beta | 4.94 | 4.28 | 2.20 | 1.50 | 1.99 | 0.95 |
| Down Beta | 5.57 | 0.66 | 1.26 | 2.66 | 1.39 | 0.18 |
| Up Capture | 358% | 344% | 328% | 314% | 150% | 52% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 24 | 32 | 61 | 120 | 355 |
| Down Capture | -125% | 188% | 213% | 159% | 145% | 107% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 15 | 29 | 60 | 123 | 384 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAMT | |
|---|---|---|---|---|
| PAMT | 4.1% | 62.3% | 0.30 | - |
| Sector ETF (XLI) | 29.7% | 16.2% | 1.42 | 32.0% |
| Equity (SPY) | 26.1% | 12.4% | 1.59 | 27.2% |
| Gold (GLD) | 24.1% | 27.5% | 0.77 | -0.8% |
| Commodities (DBC) | 18.5% | 18.8% | 0.77 | -17.8% |
| Real Estate (VNQ) | 11.8% | 13.8% | 0.57 | 32.3% |
| Bitcoin (BTCUSD) | -40.2% | 42.5% | -1.09 | 7.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAMT | |
|---|---|---|---|---|
| PAMT | 56.0% | 410.7% | 0.47 | - |
| Sector ETF (XLI) | 13.8% | 17.5% | 0.62 | 2.5% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 2.9% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | -0.7% |
| Commodities (DBC) | 7.5% | 19.4% | 0.28 | -2.5% |
| Real Estate (VNQ) | 2.1% | 18.9% | 0.01 | 4.2% |
| Bitcoin (BTCUSD) | 9.4% | 54.1% | 0.37 | -0.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PAMT | |
|---|---|---|---|---|
| PAMT | 40.4% | 293.5% | 0.39 | - |
| Sector ETF (XLI) | 14.4% | 20.0% | 0.63 | 6.7% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 6.6% |
| Gold (GLD) | 12.2% | 16.1% | 0.62 | -0.2% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | 0.1% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 7.1% |
| Bitcoin (BTCUSD) | 59.9% | 66.8% | 1.00 | 1.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/4/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/1/2026 | -2.6% | 6.3% | 37.3% |
| 2/19/2026 | -5.8% | -18.5% | -36.5% |
| 10/31/2025 | -1.3% | 3.3% | -3.8% |
| 7/25/2025 | -3.3% | -15.4% | -9.3% |
| 4/24/2025 | 1.2% | 0.4% | -14.7% |
| 2/14/2025 | -0.5% | -11.1% | -9.4% |
| 10/28/2024 | -3.2% | 5.8% | 20.8% |
| 7/26/2024 | 0.8% | -16.0% | -14.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 10 |
| # Negative | 14 | 15 | 14 |
| Median Positive | 1.3% | 5.8% | 14.6% |
| Median Negative | -3.0% | -9.5% | -9.4% |
| Max Positive | 9.7% | 22.7% | 39.6% |
| Max Negative | -6.8% | -18.5% | -36.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/1/2026 | -2.6% | 6.3% | 37.3% |
| 2/19/2026 | -5.8% | -18.5% | -36.5% |
| 10/31/2025 | -1.3% | 3.3% | -3.8% |
| 7/25/2025 | -3.3% | -15.4% | -9.3% |
| 4/24/2025 | 1.2% | 0.4% | -14.7% |
| 2/14/2025 | -0.5% | -11.1% | -9.4% |
| 10/28/2024 | -3.2% | 5.8% | 20.8% |
| 7/26/2024 | 0.8% | -16.0% | -14.6% |
| 4/18/2024 | -0.1% | 22.7% | 25.5% |
| 2/5/2024 | -2.8% | -1.0% | -12.4% |
| 10/19/2023 | -4.3% | -12.4% | 6.8% |
| 7/20/2023 | -2.1% | -3.6% | -17.5% |
| 4/25/2023 | -3.7% | -9.5% | 2.1% |
| 2/14/2023 | 1.2% | -0.3% | -1.9% |
| 10/21/2022 | 0.9% | -9.2% | -6.0% |
| 8/5/2022 | -0.1% | 3.1% | -15.5% |
| 4/19/2022 | 9.7% | 6.4% | -4.4% |
| 1/19/2022 | 4.5% | -1.8% | 9.8% |
| 10/19/2021 | 1.3% | 3.0% | 39.6% |
| 7/15/2021 | 1.3% | 6.3% | 19.4% |
| 4/21/2021 | 4.3% | -2.9% | -3.9% |
| 1/20/2021 | -6.2% | -15.6% | -4.0% |
| 10/20/2020 | 3.4% | -2.2% | 4.0% |
| 7/23/2020 | -6.8% | -11.9% | 6.0% |
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 10 |
| # Negative | 14 | 15 | 14 |
| Median Positive | 1.3% | 5.8% | 14.6% |
| Median Negative | -3.0% | -9.5% | -9.4% |
| Max Positive | 9.7% | 22.7% | 39.6% |
| Max Negative | -6.8% | -18.5% | -36.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 03/10/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/12/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/12/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 03/10/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/11/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/05/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/01/2020 | 10-Q |
| 12/31/2019 | 03/13/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
| 06/30/2019 | 08/02/2019 | 10-Q |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Cargo Ground Transportation Resources |
| Transport Topics |
| Commercial Carrier Journal (CCJ) |
| FreightWaves |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 6/22/2026