PAMT · PAMT CORP
PAMT CORP, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company provides truckload dry van carrier services that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units. The company also offers brokerage and logistics services. As of December 31, 2025, it operated a fleet of 2,094 trucks, which included 493 independent contractor trucks; and 8,020 trailers. PAMT CORP was formerly known as P.A.M. Transportation Services, Inc., and changed its name to PAMT CORP in November 2024. The company was founded in 1980 and is headquartered in Tontitown, Arkansas.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $12.50 |
| SO | 20.9M |
| Options | 0.0M |
| Warrants | 0.0M |
| FD SO | 20.9M |
| MC | $261.8M |
| Cash | $18.2M |
| Total debt | $332.8M |
| EV | $576.4M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 1.0x |
| EV / EBITDA | 25.0x |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 20.1% |
| Insiders | 77.3% |
| # Institutions | 94 |
| Analysts | 0 |
| Consensus | — |
| Avg target | — |
| Short % float | 1.7% |
| Days to cover | 4.05 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-07-20. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-09-09 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-08-14; the float denominator can be unreliable on tiny floats.
Financial statements
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Total Revenue | 164.65 | 141.88 | 141.32 | 150.26 |
| Revenue YoY % | 8.9% | (8.7%) | (15.1%) | (17.7%) |
| Operating Income | (10.41) | (0.27) | (38.09) | (5.71) |
| Operating Income YoY % | 6.0% | 97.1% | (1.1%) | (347.3%) |
| Operating Margin % | (6.3%) | (0.2%) | (27.0%) | (3.8%) |
| EBITDA | 8.93 | 18.97 | (18.91) | 14.09 |
| EBITDA Margin % | 5.4% | 13.4% | (13.4%) | 9.4% |
| Interest Expense | 4.62 | 4.54 | 4.91 | 4.48 |
| Other Income / (Expense) | 5.08 | 4.80 | 3.96 | 2.53 |
| Pretax Income | (9.95) | (0.01) | (39.04) | (7.66) |
| Tax Provision | (2.50) | (0.00) | (9.79) | (2.08) |
| Net Income | (7.44) | (0.01) | (29.25) | (5.59) |
| Net Margin % | (4.5%) | (0.0%) | (20.7%) | (3.7%) |
| Diluted EPS | -$0.36 | $0.00 | -$1.38 | -$0.27 |
| Basic EPS | -$0.36 | $0.00 | -$1.38 | -$0.27 |
| Diluted Avg Shares | 20.9 | 20.9 | — | 20.9 |
| Basic Avg Shares | 20.9 | 20.9 | — | 20.9 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 598.11 | 598.06 | 714.65 | 810.81 | 946.86 |
| Revenue YoY % | 0.0% | (16.3%) | (11.9%) | (14.4%) | — |
| Operating Income | (54.48) | (64.06) | (36.77) | 30.31 | 123.77 |
| Operating Income YoY % | 15.0% | (74.2%) | (221.3%) | (75.5%) | — |
| Operating Margin % | (9.1%) | (10.7%) | (5.1%) | 3.7% | 13.1% |
| EBITDA | 23.08 | 19.24 | 62.50 | 94.92 | 186.57 |
| EBITDA Margin % | 3.9% | 3.2% | 8.7% | 11.7% | 19.7% |
| Interest Expense | 18.54 | 17.46 | 13.24 | 9.18 | 7.93 |
| Other Income / (Expense) | 16.36 | 11.23 | 8.46 | 7.45 | 3.17 |
| Pretax Income | (56.66) | (70.29) | (41.55) | 28.58 | 119.01 |
| Tax Provision | (14.37) | (17.68) | (9.75) | 10.16 | 28.34 |
| Net Income | (42.29) | (52.61) | (31.80) | 18.42 | 90.67 |
| Net Margin % | (7.1%) | (8.8%) | (4.4%) | 2.3% | 9.6% |
| Diluted EPS | -$2.01 | -$2.48 | -$1.45 | $0.83 | $4.04 |
| Basic EPS | -$2.01 | -$2.48 | -$1.45 | $0.83 | $4.08 |
| Diluted Avg Shares | 20.9 | 21.2 | 21.9 | 22.2 | 22.4 |
| Basic Avg Shares | 20.9 | 21.2 | 21.9 | 22.1 | 22.2 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 18.21 | 40.52 | 35.23 | 68.76 |
| Short-term Investments | 38.73 | 40.76 | 48.49 | 46.80 |
| Receivables | 88.93 | 79.80 | 66.88 | 76.26 |
| Inventory | 2.61 | 2.56 | 2.33 | 2.27 |
| Other Current Assets | 12.89 | 17.35 | 18.30 | 16.05 |
| Total Current Assets | 161.38 | 180.99 | 171.23 | 210.14 |
| Net PPE | 499.47 | 490.36 | 516.84 | 501.29 |
| Operating Lease ROU | 6.80 | 6.98 | 7.16 | 0.84 |
| Total Assets | 670.33 | 681.02 | 697.91 | 715.25 |
| Accounts Payable | 27.42 | 27.98 | 32.75 | 33.06 |
| Current Debt | 64.59 | 68.67 | 65.54 | 68.83 |
| Current Lease Liabilities | 1.14 | 1.13 | 1.12 | 0.34 |
| Other Current Liabilities | 29.46 | 41.30 | 39.96 | 15.38 |
| Total Current Liabilities | 122.61 | 139.08 | 139.37 | 117.61 |
| Long-term Debt | 268.23 | 251.98 | 268.33 | 273.60 |
| Long-term Lease Liabilities | 5.66 | 5.86 | 6.04 | 0.50 |
| Other Liabilities | 70.74 | 73.69 | 73.69 | 84.03 |
| Total Liabilities | 467.24 | 470.60 | 487.43 | 475.74 |
| Retained Earnings | 190.05 | 197.49 | 197.50 | 226.75 |
| Total Equity | 203.09 | 210.43 | 210.48 | 239.51 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 18.21 | 35.23 | 68.06 | 100.61 | 74.09 |
| Short-term Investments | 38.73 | 48.49 | 42.62 | 43.20 | 41.73 |
| Receivables | 88.93 | 66.88 | 79.97 | 80.60 | 134.74 |
| Inventory | 2.61 | 2.33 | 2.43 | 2.32 | 2.57 |
| Other Current Assets | 12.89 | 18.30 | 18.69 | 24.30 | 27.64 |
| Total Current Assets | 161.38 | 171.23 | 211.77 | 251.04 | 280.77 |
| Net PPE | 499.47 | 516.84 | 527.22 | 504.72 | 463.60 |
| Operating Lease ROU | 6.80 | 7.16 | — | 0.10 | — |
| Other Assets | — | — | — | 4.60 | 4.80 |
| Total Assets | 670.33 | 697.91 | 741.65 | 760.46 | 749.16 |
| Accounts Payable | 27.42 | 32.75 | 31.20 | 62.65 | 48.92 |
| Current Debt | 64.59 | 65.54 | 73.02 | 57.65 | 58.81 |
| Current Lease Liabilities | 1.14 | 1.12 | 0.00 | 0.11 | — |
| Other Current Liabilities | 29.46 | 39.96 | 14.57 | 16.68 | 34.23 |
| Total Current Liabilities | 122.61 | 139.37 | 118.78 | 137.10 | 141.97 |
| Long-term Debt | 268.23 | 268.33 | 252.56 | 204.06 | 205.47 |
| Long-term Lease Liabilities | 5.66 | 6.04 | — | — | — |
| Other Liabilities | 70.74 | 73.69 | 92.80 | 105.08 | 101.55 |
| Total Liabilities | 467.24 | 487.43 | 464.15 | 446.24 | 448.98 |
| Retained Earnings | 190.05 | 197.50 | 250.11 | 281.90 | 263.49 |
| Total Equity | 203.09 | 210.48 | 277.51 | 314.22 | 300.18 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Net Income | (7.44) | (0.01) | (29.25) | (5.59) |
| D&A | 19.34 | 19.24 | 19.18 | 19.80 |
| Stock-Based Comp | 0.15 | 0.10 | 0.22 | 0.18 |
| Δ Working Cap & Other | (26.06) | (22.02) | 4.04 | (8.47) |
| Operating Cash Flow | (14.02) | (2.69) | (5.81) | 5.94 |
| CapEx | (4.36) | (14.40) | (19.17) | (3.42) |
| Other Investing | 23.05 | 43.05 | 15.65 | 17.64 |
| Investing Cash Flow | 18.69 | 28.65 | (3.51) | 14.22 |
| Debt Issuance | — | — | 0.00 | 0.00 |
| Debt Repayment | (26.95) | (20.66) | (24.20) | (19.62) |
| Stock Buyback | (0.04) | (0.01) | 0.00 | 0.00 |
| Other Financing | — | — | — | (0.69) |
| Financing Cash Flow | (26.99) | (20.67) | (24.20) | (20.31) |
| Free Cash Flow | (18.38) | (17.09) | (24.98) | 2.51 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (42.29) | (52.61) | (31.80) | 18.42 | 90.67 |
| D&A | 77.56 | 83.30 | 99.26 | 64.61 | 62.81 |
| Stock-Based Comp | 0.66 | 0.55 | 0.72 | 0.55 | 0.71 |
| Δ Working Cap & Other | (52.51) | (13.90) | (9.15) | 31.00 | 14.62 |
| Operating Cash Flow | (16.58) | 17.34 | 59.04 | 114.58 | 168.81 |
| CapEx | (41.35) | (40.74) | (140.76) | (34.06) | (63.96) |
| Acquisitions | — | — | 0.00 | 0.00 | (65.80) |
| Other Investing | 99.40 | 59.14 | 40.57 | 22.77 | 16.23 |
| Investing Cash Flow | 58.05 | 18.40 | (100.19) | (11.29) | (113.53) |
| Debt Issuance | — | 30.00 | 80.68 | 0.00 | 74.92 |
| Debt Repayment | (91.44) | (83.63) | (66.83) | (71.11) | (67.33) |
| Stock Buyback | (0.05) | (14.93) | (5.26) | (4.74) | (7.00) |
| Other Financing | (0.69) | — | — | (0.91) | — |
| Financing Cash Flow | (92.18) | (68.56) | 8.59 | (76.75) | 0.29 |
| Free Cash Flow | (57.93) | (23.41) | (81.72) | 80.52 | 104.85 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Current Ratio | 1.32 | 1.30 | 1.23 | 1.79 |
| Quick Ratio | 1.29 | 1.28 | 1.21 | 1.77 |
| Debt / Equity | 1.64 | 1.52 | 1.59 | 1.43 |
| EBITDA Margin % | 5.4% | 13.4% | (13.4%) | 9.4% |
| Working Capital | 38.77 | 41.91 | 31.86 | 92.53 |
| Net Debt | 314.61 | 280.13 | 298.63 | 273.67 |
| ROE % | (3.7%) | (0.0%) | (13.9%) | (2.3%) |
| ROA % | (1.1%) | (0.0%) | (4.2%) | (0.8%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.23 | 1.78 | 1.83 | 1.98 |
| Quick Ratio | 1.29 | 1.21 | 1.76 | 1.81 | 1.96 |
| Debt / Equity | 1.64 | 1.59 | 1.17 | 0.83 | 0.88 |
| EBITDA Margin % | 3.9% | 3.2% | 8.7% | 11.7% | 19.7% |
| Working Capital | 38.77 | 31.86 | 92.99 | 113.94 | 138.80 |
| Net Debt | 314.61 | 298.63 | 257.52 | 161.09 | 190.19 |
| ROE % | (20.8%) | (25.0%) | (11.5%) | 5.9% | 30.2% |
| ROA % | (6.3%) | (7.5%) | (4.3%) | 2.4% | 12.1% |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-09-08 | MOROUN MATTHEW T | Director, 10% Owner | 2026-09-03 | S | (3,268,000) | $9.55 | -$31,225,740 |
| 2026-09-08 | MOROUN MATTHEW T | Director, 10% Owner | 2026-09-03 | P | 3,268,000 | $9.55 | $31,225,740 |
| 2026-08-05 | Kleine Daniel C. | Officer (SVP of Fin., CFO & Treasurer) | 2026-07-30 | A | 20,000 | — | $0 |
| 2026-05-12 | MOROUN MATTHEW T | Director, 10% Owner | 2026-05-08 | A | 1,453 | $10.32 | $14,995 |
| 2026-05-12 | Moroun Matthew J. | Director | 2026-05-08 | A | 1,453 | $10.32 | $14,995 |
| 2026-05-12 | MCLARTY FRANKLIN | Director | 2026-05-08 | A | 484 | $10.32 | $4,995 |
| 2026-05-12 | Bishop Michael D. | Director | 2026-05-08 | A | 968 | $10.32 | $9,990 |
| 2026-02-11 | STEWART LANCE | Director, Officer (President and CEO) | 2026-02-09 | F | (11,354) | $12.03 | -$136,589 |
| 2025-09-15 | MOROUN MATTHEW T | Director, 10% Owner | 2025-09-11 | S | (2,000,000) | $10.74 | -$21,490,000 |
| 2025-09-15 | MOROUN MATTHEW T | Director, 10% Owner | 2025-09-11 | P | 2,000,000 | $10.74 | $21,490,000 |
| 2025-08-05 | STEWART LANCE | Director, Officer (President & CEO) | 2025-08-04 | A | 100,000 | — | $0 |
| 2025-05-15 | Bishop Michael D. | Director | 2025-05-12 | A | 954 | $15.71 | $14,987 |
| 2025-05-15 | Lukas Edwin J. | Director | 2025-05-12 | A | 954 | $15.71 | $14,987 |
| 2025-05-15 | Moroun Matthew J. | Director | 2025-05-12 | A | 954 | $15.71 | $14,987 |
| 2025-05-15 | MOROUN MATTHEW T | Director, 10% Owner | 2025-05-12 | A | 954 | $15.71 | $14,987 |
| 2025-02-12 | Vitiritto Joseph A. | Director, Officer (President and CEO) | 2025-02-09 | F | (2,376) | $15.65 | -$37,184 |
| 2025-01-29 | STEWART LANCE | Officer (VP of Finance, CFO, Treasurer) | 2025-01-27 | A | 20,000 | — | $0 |
| 2025-01-29 | Vitiritto Joseph A. | Director, Officer (President and CEO) | 2025-01-27 | A | 32,500 | — | $0 |