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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies67
  • 7D-1.8%
  • 3M60.0%
  • 1Y8.6%
  • YTD4.0%

Over the last 7 days, the market has dropped 1.8%, driven by a loss of 6.1% in the Communication Services sector. In contrast to the last week, the market is actually up 8.6% over the past year. Looking forward, earnings are forecast to grow by 43% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025AR$110.9tAR$72.6tAR$2.8t15.9x39x1.5x
Thu, 13 Nov 2025AR$111.2tAR$68.4tAR$2.4t17.8x47.2x1.6x
Sat, 11 Oct 2025AR$74.0tAR$73.5tAR$5.3t12.8x14.1x1x
Mon, 08 Sep 2025AR$78.7tAR$72.1tAR$5.2t15x15.2x1.1x
Wed, 06 Aug 2025AR$90.7tAR$69.4tAR$5.8t16.6x15.6x1.3x
Fri, 04 Jul 2025AR$81.0tAR$69.1tAR$6.0t13.9x13.5x1.2x
Sun, 01 Jun 2025AR$90.0tAR$70.2tAR$6.6t15.6x13.7x1.3x
Tue, 29 Apr 2025AR$87.6tAR$68.8tAR$8.2t13.5x10.6x1.3x
Thu, 27 Mar 2025AR$98.9tAR$68.3tAR$8.1t16.4x12.2x1.4x
Sat, 22 Feb 2025AR$102.7tAR$49.1tAR$4.3t20x23.7x2.1x
Mon, 20 Jan 2025AR$100.1tAR$48.8tAR$4.3t23.4x23.4x2x
Wed, 18 Dec 2024AR$102.4tAR$47.7tAR$4.3t23.2x24x2.1x
Fri, 15 Nov 2024AR$81.2tAR$48.1tAR$2.5t18.1x32.8x1.7x
Sun, 13 Oct 2024AR$70.3tAR$45.8tAR$3.0t21.1x23x1.5x
Tue, 10 Sep 2024AR$69.8tAR$45.4tAR$3.1t20x22.6x1.5x
Thu, 08 Aug 2024AR$60.6tAR$38.0tAR$931.9b18.7x65.1x1.6x
Sat, 06 Jul 2024AR$67.3tAR$36.2tAR$2.4t18.9x28.6x1.9x
Mon, 03 Jun 2024AR$68.8tAR$43.7tAR$3.3t20x20.9x1.6x
Wed, 01 May 2024AR$54.6tAR$38.4tAR$834.3b16.5x65.5x1.4x
Fri, 29 Mar 2024AR$51.2tAR$36.2tAR$582.3b28.8x88x1.4x
Sun, 25 Feb 2024AR$49.4tAR$14.1tAR$1.8t36.3x28x3.5x
Tue, 23 Jan 2024AR$54.8tAR$13.9tAR$1.7t41x32x3.9x
Thu, 21 Dec 2023AR$41.4tAR$14.1tAR$1.7t30x23.7x2.9x
Sat, 18 Nov 2023AR$26.2tAR$13.6tAR$1.4t20.3x18.5x1.9x
Mon, 16 Oct 2023AR$33.0tAR$12.5tAR$836.2b24.7x39.4x2.6x
Wed, 13 Sep 2023AR$22.3tAR$11.9tAR$794.1b18.2x28.1x1.9x
Fri, 11 Aug 2023AR$20.0tAR$10.6tAR$615.6b19.8x32.5x1.9x
Sun, 09 Jul 2023AR$18.3tAR$10.4tAR$530.9b20.6x34.5x1.8x
Tue, 06 Jun 2023AR$15.4tAR$10.4tAR$535.5b17.8x28.8x1.5x
Thu, 04 May 2023AR$12.6tAR$9.7tAR$429.3b15.7x29.4x1.3x
Sat, 01 Apr 2023AR$10.8tAR$9.6tAR$407.1b14.8x26.5x1.1x
Mon, 27 Feb 2023AR$10.9tAR$6.3tAR$234.6b18.4x46.3x1.7x
Wed, 25 Jan 2023AR$11.1tAR$6.8tAR$430.3b16.7x25.9x1.6x
Fri, 23 Dec 2022AR$8.1tAR$6.8tAR$436.7b13.8x18.5x1.2x
Price to Earnings Ratio

18.5x


Total Market Cap: AR$8.1tTotal Earnings: AR$436.7bTotal Revenue: AR$6.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 28.1x202320242025
Current Market PE
  • Investors are optimistic on the Argentinean market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 39.0x which is higher than its 3-year average PE of 28.1x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 87% per year over the last three years.
  • Revenues for these companies have grown 120% 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-1.76%
Real Estate2.29%
Healthcare2.27%
Financials-0.21%
Energy-1.52%
Utilities-2.26%
Materials-2.78%
Consumer Staples-3.55%
Consumer Discretionary-4.84%
Telecom-6.13%
Industrials-6.47%
Tech-8.33%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings decline of 32.1% which is lower than the prior year's growth of 0.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 95% over the next 5 years.
  • In contrast, the Real Estate sector is expected to see its earnings decline by 67% 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
TGSU2 Transportadora de Gas del SurAR$9.68k1.8%
+AR$128.0b		44.4%PE20.7xEnergy
BBAR Banco BBVA ArgentinaAR$8.61k2.3%
+AR$119.5b		20.0%PB1.8xFinancials
TXAR Ternium ArgentinaAR$811.003.1%
+AR$110.7b		-15.0%PE222.7xMaterials
BMA Banco MacroAR$13.34k0.8%
+AR$63.9b		11.9%PB1.8xFinancials
IRSA IRSA Inversiones y Representaciones Sociedad AnónimaAR$2.35k2.8%
+AR$49.5b		24.3%PE3.7xReal Estate
See more

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Latest News

EDN
AR$2,357.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
-5.9%
1Y
-14.8%

EDN: Higher Profit Margins Will Drive Stronger Future Earnings Profile

Narrative Update on Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Analysts have modestly raised their price target for Empresa Distribuidora y Comercializadora Norte Sociedad Anónima to reflect a significantly higher projected profit margin, even as overall fair value estimates in ARS terms remain broadly unchanged. What's in the News Board meeting scheduled for November 6, 2025 at 14:00 UTC to review and approve the condensed interim financial statements for the nine month period ended September 30, 2025 (Key Developments) Directors will acknowledge and consider the reports accompanying the approved interim financial statements, indicating attention to regulatory and disclosure requirements (Key Developments) The company plans to authorize its Chairman to sign the financial statements for the period ended September 30, 2025, formalizing the approval process (Key Developments) Management may address additional corporate matters at the same meeting, which could include operational or strategic updates not yet specified in the agenda (Key Developments) Valuation Changes The fair value estimate in ARS has remained unchanged at approximately ARS 2,600 per share, indicating no revision to the overall intrinsic value assessment.
GGAL
AR$7,500.00
Grupo Financiero Galicia
7D
-2.3%
1Y
-1.2%

GGAL: Shares Will Rise With Pro Reform Agenda Despite Reduced External Support

Analysts narrowed their price target on Grupo Financiero Galicia to about $11,665 from roughly $11,825, balancing faster expected revenue growth and slightly higher margins against a higher discount rate and a more cautious sector stance following recent rating and target revisions across the Argentine banking space. Analyst Commentary Recent Street research on Grupo Financiero Galicia reflects a mix of optimism about Argentina's improving macro backdrop and caution around the durability of that trend, leading to a more balanced stance on the shares.
CEPU
AR$2,507.50
Central Puerto
7D
-4.2%
1Y
44.1%

CEPU: Share Buyback Plan Will Drive Future Upside Potential

Analysts have modestly reaffirmed their view on Central Puerto, keeping the price target steady at $29.00 per share, as slightly stronger long term revenue growth expectations offset a marginally lower projected profit margin and discount rate. What's in the News Board of Directors authorizes a new share buyback plan for Central Puerto S.A. on September 25, 2025, signaling confidence in the company and its valuation (company filing) Central Puerto S.A. launches a share repurchase program of up to $20 million, capped at 10% of corporate capital, funded from free reserves (company filing) Initial maximum repurchase prices set at $11 per ADR on the NYSE and ARS 650 per common share on Bolsas y Mercados Argentinos (company filing) On October 24, 2025, Central Puerto raises the maximum local repurchase price to ARS 1,750 per common share, while maintaining the $11 ADR cap on the NYSE (company filing) Valuation Changes Fair Value: Unchanged at $29.00 per share, indicating no revision to the intrinsic value estimate.
BMA
AR$13,340.00
Banco Macro
7D
0.8%
1Y
11.9%

BMA: Higher Capital Strength Will Support Post Election Credit Upside

Analysts have raised their price target on Banco Macro to $111 from ARS 18,000, reflecting higher expected revenue growth, expanding profit margins and the bank's strong capital position relative to other Argentine peers. Analyst Commentary Recent Street research reflects a generally constructive stance on Banco Macro, with several upgrades and positive initiations following Argentina's improved macroeconomic outlook and post election policy visibility.
YPFD
AR$53,550.00
YPF Sociedad Anónima
7D
-2.6%
1Y
7.6%

YPFD: Lower Projected Upside Will Constrain Future Share Price Performance

Analysts modestly cut their price target on YPF Sociedad Anónima from $47.80 to $44.00, reflecting updated models that incorporate a slightly lower fair value despite improved projected revenue growth, profit margins, and a more attractive future price-to-earnings multiple. Analyst Commentary Recent research updates suggest that, while the overall rating on YPF Sociedad Anónima remains constructive, the recalibration of price targets signals a more cautious stance on the balance of risk and reward at current levels.
BBAR
AR$8,605.00
Banco BBVA Argentina
7D
2.3%
1Y
20.0%
TXAR
AR$811.00
Ternium Argentina
7D
3.1%
1Y
-15.0%
TRAN
AR$4,062.50
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
2.7%
1Y
32.1%
ALUA
AR$955.50
Aluar Aluminio ArgentinoI.C
7D
-10.3%
1Y
-2.5%
BPAT
AR$2,750.00
Banco Patagonia
7D
-7.1%
1Y
-1.6%
CTIO
AR$2,300.00
Consultatio
7D
5.0%
1Y
-3.0%
TECO2
AR$3,567.50
Telecom Argentina
7D
-6.5%
1Y
12.4%
CRES
AR$1,798.00
Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria
7D
3.5%
1Y
16.0%
METR
AR$2,575.00
MetroGAS
7D
-5.2%
1Y
-14.0%
IRSA
AR$2,350.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
2.8%
1Y
24.3%
TGSU2
AR$9,675.00
Transportadora de Gas del Sur
7D
1.8%
1Y
44.4%