Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Argentinian (MERVAL) Market Analysis & Valuation

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies68
  • 7D-1.6%
  • 3M63.9%
  • 1Y5.0%
  • YTD189.4%

Over the last 7 days, the market has dropped 1.6%, driven by a pullback of 5.2% in the Utilities sector. Meanwhile, the Real Estate sector has outperformed, gaining 3.8% in that time. In the last year, the market is actually up 5.0%. Earnings are forecast to grow by 49% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 03 Jan 2026AR$113.0tAR$72.7tAR$2.8t16.7x40.6x1.6x
Mon, 01 Dec 2025AR$113.0tAR$74.4tAR$3.2t15.6x35.5x1.5x
Wed, 29 Oct 2025AR$96.0tAR$73.6tAR$5.3t16.7x18x1.3x
Fri, 26 Sep 2025AR$72.5tAR$73.3tAR$5.2t11.9x13.9x1x
Sun, 24 Aug 2025AR$83.4tAR$72.2tAR$5.1t13.5x16.4x1.2x
Tue, 22 Jul 2025AR$82.5tAR$69.2tAR$5.7t14.4x14.6x1.2x
Thu, 19 Jun 2025AR$82.3tAR$69.1tAR$6.0t14.3x13.7x1.2x
Sat, 17 May 2025AR$91.1tAR$71.3tAR$6.3t14.4x14.4x1.3x
Mon, 14 Apr 2025AR$88.9tAR$68.1tAR$8.0t13.8x11x1.3x
Wed, 12 Mar 2025AR$85.8tAR$67.9tAR$7.8t14.1x11.1x1.3x
Fri, 07 Feb 2025AR$99.0tAR$48.2tAR$4.2t23.8x23.3x2.1x
Sun, 05 Jan 2025AR$117.6tAR$47.6tAR$4.3t24.5x27.5x2.5x
Tue, 03 Dec 2024AR$91.9tAR$49.5tAR$4.3t20x21.3x1.9x
Thu, 31 Oct 2024AR$72.6tAR$45.8tAR$3.0t23.3x24x1.6x
Sat, 28 Sep 2024AR$68.2tAR$45.0tAR$3.0t20.1x22.5x1.5x
Mon, 26 Aug 2024AR$65.1tAR$43.4tAR$2.8t19.2x22.9x1.5x
Wed, 24 Jul 2024AR$65.7tAR$36.6tAR$2.4t20.3x27.7x1.8x
Fri, 21 Jun 2024AR$66.1tAR$36.6tAR$2.4t17.6x27.7x1.8x
Sun, 19 May 2024AR$61.6tAR$39.9tAR$1.8t16.9x34.5x1.5x
Tue, 16 Apr 2024AR$49.6tAR$37.4tAR$619.0b15.8x80.1x1.3x
Thu, 14 Mar 2024AR$43.9tAR$35.1tAR$790.1b24.9x55.6x1.3x
Sat, 10 Feb 2024AR$51.2tAR$14.1tAR$1.8t43.4x28.9x3.6x
Mon, 08 Jan 2024AR$46.6tAR$13.9tAR$1.7t35x27.3x3.3x
Wed, 06 Dec 2023AR$38.1tAR$15.2tAR$1.8t24x21.4x2.5x
Fri, 03 Nov 2023AR$27.0tAR$12.5tAR$854.9b22.9x31.6x2.2x
Sun, 01 Oct 2023AR$24.7tAR$12.3tAR$841.1b22.7x29.4x2x
Tue, 29 Aug 2023AR$26.9tAR$11.8tAR$725.1b24.8x37.1x2.3x
Thu, 27 Jul 2023AR$20.2tAR$10.5tAR$550.6b21.2x36.7x1.9x
Sat, 24 Jun 2023AR$18.1tAR$10.4tAR$530.0b21.7x34.1x1.7x
Mon, 22 May 2023AR$14.7tAR$10.3tAR$525.7b18.2x28x1.4x
Wed, 19 Apr 2023AR$12.4tAR$9.8tAR$430.1b15x28.9x1.3x
Fri, 17 Mar 2023AR$9.7tAR$9.4tAR$372.7b14.6x26.1x1x
Sun, 12 Feb 2023AR$11.1tAR$6.8tAR$425.9b16.5x26x1.6x
Tue, 10 Jan 2023AR$9.7tAR$6.8tAR$430.1b15.7x22.6x1.4x
Price to Earnings Ratio

22.6x


Total Market Cap: AR$9.7tTotal Earnings: AR$430.1bTotal Revenue: AR$6.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 28.5x202420252026
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 40.6x which is higher than its 3-year average PE of 28.5x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 86% per year over the last three years.
  • Revenues for these companies have grown 121% 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-1.60%
Industrials6.31%
Real Estate3.83%
Telecom1.20%
Consumer Staples0.35%
Consumer Discretionary-0.026%
Healthcare-0.46%
Financials-1.28%
Energy-1.31%
Materials-2.38%
Tech-2.77%
Utilities-5.16%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 12.6x.
    • 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 109% 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
CELU Celulosa ArgentinaAR$455.009,878.1%
+AR$4.5t		4,949.9%PS23.2xMaterials
YPFD YPF Sociedad AnónimaAR$56.45k3.4%
+AR$726.0b		7.5%PS1xEnergy
TECO2 Telecom ArgentinaAR$3.60k3.4%
+AR$253.1b		6.2%PS1.3xTelecom
IRSA IRSA Inversiones y Representaciones Sociedad AnónimaAR$2.56k6.0%
+AR$110.6b		34.1%PE4xReal Estate
HARG Holcim (Argentina)AR$2.62k10.5%
+AR$91.4b		17.8%PS2.5xMaterials
See more

Market Insights

Header cover image
Three Sectors Expected to Rally in 2026 📈
With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
Continue reading
🤖 AI Companies Hit The Bond Market
Last Week

🤖 AI Companies Hit The Bond Market

Latest News

TRAN
AR$3,470.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
-17.0%
1Y
22.6%
CRES
AR$1,936.00
Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria
7D
7.0%
1Y
21.4%
IRSA
AR$2,555.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
6.0%
1Y
34.1%
YPFD
AR$56,450.00
YPF Sociedad Anónima
7D
3.4%
1Y
7.5%

YPFD: Future Export Agreements Will Support Efficiency Gains And Forward Momentum

Analysts have modestly lowered their price target on YPF Sociedad Anónima to $44 from $47, reflecting updated models that incorporate stronger top line growth but more conservative assumptions on profitability and valuation multiples. Analyst Commentary Analysts describe the modest price target reduction as a recalibration rather than a shift in fundamental conviction.
EDN
AR$2,320.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
-4.1%
1Y
-12.0%
TGNO4
AR$4,745.00
Transportadora de Gas del Norte
7D
-2.5%
1Y
8.1%
GGAL
AR$8,350.00
Grupo Financiero Galicia
7D
-0.4%
1Y
1.5%

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.
PAMP
AR$5,440.00
Pampa Energía
7D
1.2%
1Y
22.4%

PAMP: Future Returns Will Reflect Power Reforms And Gas Integration Benefits

Analysts have raised their price target on Pampa Energía from $92 to $113 per share, citing expectations for significant benefits from changes in the power generation business and improved monetization and integration of the company's gas upstream operations. Analyst Commentary Recent research updates highlight a more constructive stance on Pampa Energía, with higher price targets reflecting improved visibility on earnings growth and cash flow generation from both power and gas operations.
CGPA2
AR$2,830.00
Camuzzi Gas Pampeana
7D
-6.4%
1Y
-23.7%
GBAN
AR$2,345.00
Naturgy BAN
7D
-5.8%
1Y
6.8%
BPAT
AR$2,705.00
Banco Patagonia
7D
-6.6%
1Y
-10.4%
TECO2
AR$3,595.00
Telecom Argentina
7D
3.4%
1Y
6.2%
HARG
AR$2,620.00
Holcim (Argentina)
7D
10.5%
1Y
17.8%
METR
AR$2,537.50
MetroGAS
7D
-6.1%
1Y
-10.0%
BYMA
AR$301.25
Bolsas y Mercados Argentinos
7D
3.3%
1Y
17.4%
CELU
AR$455.00
Celulosa Argentina
7D
9,878.1%
1Y
4,949.9%