3M Co (MMM) is overvalued and Pampa Energia SA ADR (PAM) is undervalued.
Against our estimates of intrinsic value, PAM trades at the wider discount: a margin of safety of +57%, against -94% for MMM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.3% (average of 3 methods) values the shares at $87.07; the price of $169.30 is 94% above that value, and 74% of that value comes from beyond year five.
Leak Score 49/100 on 10 of 12 signals
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $187.77; the price of $80.69 is 57% below that value, and 80% of that value comes from beyond year five.
Leak Score 84/100 on 3 of 12 signals
| Metric | MMM | PAM |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $169.30 | $80.69 |
| Intrinsic value | $87.07 | $187.77 |
| Margin of safety | -94% | +57% |
| Leak Score | 49/100 (10/12) | 84/100 (3/12) |
| Market cap | $87.3B | $4.3B |
| Revenue growth, 5 years | -5.0% | 13.4% |
| Operating margin | 20.9% | 21.1% |
| Net margin | 11.9% | 23.8% |
| Return on equity | 82.8% | 15.3% |
| Debt to equity | 4.46 | 0.65 |
| P/E | 30.1x | 7.5x |
| Forward P/E | 17.2x | 7.4x |
| P/B | 29.6x | 1.1x |
| Dividend yield | 1.9% | — |