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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies69
  • 7D-5.8%
  • 3M11.0%
  • 1Y45.2%
  • YTD0.3%

Over the last 7 days, the market has dropped 5.8%, driven by losses in every sector, especially the Energy sector. In the last year, the market is actually up 45%. Looking forward, earnings are forecast to grow by 34% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

Has the Argentinian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026AR$121.2tAR$96.2tAR$4.8t13.1x25.3x1.3x
Sat, 23 May 2026AR$108.8tAR$95.8tAR$4.6t11.8x23.8x1.1x
Mon, 20 Apr 2026AR$107.3tAR$91.0tAR$3.3t14x32.6x1.2x
Wed, 18 Mar 2026AR$99.2tAR$90.4tAR$3.3t12.8x30x1.1x
Fri, 13 Feb 2026AR$110.9tAR$72.6tAR$3.0t14.6x37.4x1.5x
Sun, 11 Jan 2026AR$112.6tAR$72.7tAR$2.8t15.8x40.4x1.5x
Tue, 09 Dec 2025AR$114.1tAR$73.2tAR$2.9t15.9x38.9x1.6x
Thu, 06 Nov 2025AR$114.9tAR$73.8tAR$5.3t18.9x21.7x1.6x
Sat, 04 Oct 2025AR$70.2tAR$73.5tAR$5.3t11.7x13.4x1x
Mon, 01 Sep 2025AR$78.5tAR$72.4tAR$5.3t12.5x14.7x1.1x
Wed, 30 Jul 2025AR$88.0tAR$69.3tAR$5.7t16.7x15.5x1.3x
Fri, 27 Jun 2025AR$80.1tAR$69.1tAR$6.0t13.2x13.3x1.2x
Sun, 25 May 2025AR$92.2tAR$70.5tAR$6.8t14.3x13.5x1.3x
Tue, 22 Apr 2025AR$86.4tAR$68.4tAR$8.2t12.4x10.6x1.3x
Thu, 20 Mar 2025AR$91.6tAR$69.2tAR$8.1t16x11.4x1.3x
Sat, 15 Feb 2025AR$94.9tAR$49.2tAR$4.3t22.9x22.2x1.9x
Mon, 13 Jan 2025AR$110.8tAR$47.6tAR$4.3t24.9x25.9x2.3x
Wed, 11 Dec 2024AR$91.4tAR$47.6tAR$4.2t22.4x21.6x1.9x
Fri, 08 Nov 2024AR$78.7tAR$45.5tAR$2.9t26.5x27x1.7x
Sun, 06 Oct 2024AR$69.5tAR$45.0tAR$3.0t20.7x22.9x1.5x
Tue, 03 Sep 2024AR$68.8tAR$44.6tAR$2.8t19.2x24.2x1.5x
Thu, 01 Aug 2024AR$62.1tAR$37.9tAR$919.2b17.5x67.6x1.6x
Sat, 29 Jun 2024AR$68.4tAR$36.3tAR$2.4t18.7x29x1.9x
Mon, 27 May 2024AR$63.3tAR$40.7tAR$2.0t17.8x32.3x1.6x
Wed, 24 Apr 2024AR$51.8tAR$37.8tAR$660.4b16.3x78.4x1.4x
Fri, 22 Mar 2024AR$50.2tAR$35.3tAR$772.9b29.5x65x1.4x
Sun, 18 Feb 2024AR$48.1tAR$14.1tAR$1.8t34.1x27.3x3.4x
Tue, 16 Jan 2024AR$47.8tAR$13.9tAR$1.7t35.7x27.9x3.4x
Thu, 14 Dec 2023AR$45.0tAR$14.9tAR$1.8t33.2x25.6x3x
Sat, 11 Nov 2023AR$27.3tAR$13.5tAR$1.3t21.1x20.8x2x
Mon, 09 Oct 2023AR$27.6tAR$12.5tAR$843.0b23.5x32.8x2.2x
Wed, 06 Sep 2023AR$25.7tAR$11.8tAR$724.7b25.5x35.4x2.2x
Fri, 04 Aug 2023AR$19.1tAR$10.5tAR$550.6b20.1x34.7x1.8x
Sun, 02 Jul 2023AR$18.2tAR$10.4tAR$530.9b21.5x34.3x1.7x
Price to Earnings Ratio

34.3x


Total Market Cap: AR$18.2tTotal Earnings: AR$530.9bTotal Revenue: AR$10.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 29x202420252026
Current Market PE
  • Investors are pessimistic on the Argentinean market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 25.3x which is lower than its 3-year average PE of 29.0x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 108% per year over the last three years.
  • Revenues for these companies have grown 110% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Argentinian Market?

AR Market-5.78%
Materials-1.10%
Real Estate-1.24%
Consumer Discretionary-1.63%
Healthcare-2.51%
Consumer Staples-3.06%
Industrials-3.30%
Utilities-4.83%
Tech-5.81%
Financials-6.01%
Energy-6.74%
Telecom-8.65%
Sector PE
  • Investors favour the Energy sector the most for future growth, which is trading above its 3-year average PE ratio of 27.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 45.0% which is higher than its past year's earnings decline of 12.7% per year.
  • The Healthcare sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Energy sector, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings decline of 13% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings decline by 45% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ALUA Aluar Aluminio ArgentinoI.CAR$1.03k2.6%
+AR$72.8b		56.6%PE31.5xMaterials
IEB IEB ConstruccionesAR$1.50k24.1%
+AR$15.2b		n/aPE18xIndustrials
CTIO ConsultatioAR$1.99k1.3%
+AR$10.2b		24.0%PS3.1xReal Estate
VALO Banco de ValoresAR$637.001.0%
+AR$7.5b		98.1%PE13.8xFinancials
DGCU2 Distribuidora de Gas CuyanaAR$1.65k2.2%
+AR$7.1b		9.7%PE6xUtilities
See more

Market Insights

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Latest News

VALO
AR$637.00
Banco de Valores
7D
1.0%
1Y
98.1%
IEB
AR$1,495.00
IEB Construcciones
7D
24.1%
1Y
n/a
BMA
AR$13,980.00
Banco Macro
7D
-5.5%
1Y
63.3%
BBAR
AR$9,825.00
Banco BBVA Argentina
7D
-7.0%
1Y
44.9%
Narrative Update • Jun 17

BBAR: Upcoming Dividend Decision And Bylaw Changes Will Support Virtuous Credit Cycle

Analysts have nudged their fair value estimate for Banco BBVA Argentina slightly higher to ARS 16,259.81 from ARS 16,252.79, citing updated assumptions on the discount rate, revenue growth, profit margins, and future P/E. What’s in the News for Banco BBVA Argentina A board meeting is scheduled for May 15, 2026 to consider a potential dividend payment, according to company disclosures.
TECO2
AR$3,952.50
Telecom Argentina
7D
-9.7%
1Y
86.0%
PAMP
AR$4,967.50
Pampa Energía
7D
-3.6%
1Y
48.3%
Narrative Update • Jun 15

PAMP: Higher Fair Value Will Reflect Lower Risk And Richer Earnings Multiple

Analysts have lifted their fair value estimate for Pampa Energía to ARS 6,200 from ARS 5,400, supported by updated models that reflect a lower discount rate, adjusted revenue growth assumptions, slightly higher profit margins, and a higher future P/E multiple in line with the latest Street research price target change. What's in the News No recent company specific news items were provided in the available sources.
YPFD
AR$70,800.00
YPF Sociedad Anónima
7D
-7.7%
1Y
78.0%
Narrative Update • Jun 14

YPFD: Higher Revenue Assumptions Will Eventually Expose Execution Risk

Narrative Update on YPF Sociedad Anónima Analysts have raised their ARS price target on YPF Sociedad Anónima to ARS 48 from ARS 45, citing updated assumptions around revenue growth, profit margins and a slightly lower future P/E multiple. Analyst Commentary Recent research points to a mixed stance on YPF Sociedad Anónima, with the latest move being a price target adjustment to $48 from $45 while keeping a Neutral rating on the stock.
CEPU
AR$2,206.00
Central Puerto
7D
-7.0%
1Y
59.3%
GGAL
AR$7,625.00
Grupo Financiero Galicia
7D
-8.8%
1Y
22.6%
DGCU2
AR$1,645.00
Distribuidora de Gas Cuyana
7D
2.2%
1Y
9.7%
GARO
AR$395.00
Garovaglio y Zorraquín
7D
9.7%
1Y
129.7%
A3
AR$3,465.00
A3 Mercados
7D
0.1%
1Y
31.7%
GRIM
AR$2,570.00
Grimoldi
7D
0.8%
1Y
20.4%
CTIO
AR$1,990.00
Consultatio
7D
1.3%
1Y
24.0%
TGSU2
AR$9,130.00
Transportadora de Gas del Sur
7D
-4.4%
1Y
49.2%
ALUA
AR$1,027.00
Aluar Aluminio ArgentinoI.C
7D
2.6%
1Y
56.6%