PAMT · CIK 798287
What PAMT Corp told the SEC could break it.
Nearly everything PAMT flagged ties back to one industry and one border: automotive freight moving between the US and Mexico. Its customers are concentrated — the top five were about 43% of 2025 revenue and General Motors alone roughly 14% — and about 44% of its freight crosses the US–Mexico border, leaving it dependent on the auto industry and its Mexico-based suppliers. That makes the 2025 US tariffs (25% on goods from Mexico and Canada) a direct threat to the demand for its cross-border services, while as a trucking carrier it also carries heavy diesel exposure, where a one-cent-per-gallon move shifts annual fuel expense by about $5.4 million.
4 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- GM = 14% of revenue; top five customers = 43%high
PAMT's five largest customers were ~43% of 2025 revenue and General Motors alone ~14%, so loss of or reduced freight from a major customer (especially GM) would materially hurt results.
“Our five largest customers, for which we provide carrier services covering a number of geographic locations, accounted for approximately 43 %, 39 % and 34 % of our total revenues in 2025, 2024 and 2023, respectively. General Motors Company accounted for approximately 14 %, 12 % and 12 % of our revenues in 20”
SEC filing →As of 2026
Regulatory & policy
- 25% Mexico/Canada tariffs and shifting trade policy (auto freight)high
2025 U.S. tariffs (25% on Mexico/Canada imports) and ongoing trade-policy uncertainty could raise costs and cut demand for the automotive products PAMT's customers import/export, reducing demand for its cross-border transportation services.
“In 2025, the United States implemented significant new tariffs on imports from Canada, Mexico and China, including 25% tariffs on goods imported from Mexico and Canada.”
SEC filing →As of 2026
Commodity & input dependence
- diesel fuel ($0.01/gal ≈ $5.4M annual fuel expense)medium
As a trucking carrier, PAMT is highly exposed to diesel-fuel prices — a one-cent-per-gallon increase would raise its annual fuel expense by about $5.4 million.
“price per gallon of diesel fuel would increase our annual fuel expenses by approximately $5.4 million.”
Other disclosures
- dependence on automotive industry and US–Mexico cross-border freight (~44%)medium
PAMT's freight is heavily automotive (parts) and ~44% crosses the US–Mexico border, so it depends on the automotive manufacturing industry and its Mexico-based suppliers; auto-demand or cross-border disruptions reduce demand for its transportation services.
“A significant portion of our business is dependent on the automotive manufacturing industry and its suppliers, which have substantial operations in Mexico.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“General Motors Company accounted for approximately 14 %, 12 % and 12 % of our revenues in 2025, 2024 and 2023, respectively.”
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