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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies67
  • 7D-3.7%
  • 3M-0.4%
  • 1Y16.8%
  • YTD-3.4%

Over the last 7 days, the market has dropped 3.7%, driven by declines in every sector, especially the Financials sector. In contrast to the last week, the market is actually up 17% over the past year. Looking forward, 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
Tue, 10 Feb 2026AR$110.1tAR$72.6tAR$3.0t15.2x37x1.5x
Thu, 08 Jan 2026AR$114.0tAR$72.7tAR$2.8t15.8x40.9x1.6x
Sat, 06 Dec 2025AR$115.6tAR$73.2tAR$2.9t15.9x39.4x1.6x
Mon, 03 Nov 2025AR$112.7tAR$73.7tAR$5.3t18.2x21.4x1.5x
Wed, 01 Oct 2025AR$69.9tAR$73.4tAR$5.2t11.5x13.3x1x
Fri, 29 Aug 2025AR$78.2tAR$72.4tAR$4.9t12.7x15.9x1.1x
Sun, 27 Jul 2025AR$87.1tAR$69.2tAR$5.7t15.5x15.4x1.3x
Tue, 24 Jun 2025AR$80.7tAR$69.1tAR$6.0t13.2x13.5x1.2x
Thu, 22 May 2025AR$94.1tAR$71.4tAR$6.4t14.4x14.7x1.3x
Sat, 19 Apr 2025AR$86.4tAR$68.5tAR$8.2t13.7x10.6x1.3x
Mon, 17 Mar 2025AR$93.5tAR$72.1tAR$8.5t15.3x11.1x1.3x
Wed, 12 Feb 2025AR$95.9tAR$48.5tAR$4.3t21.4x22.5x2x
Fri, 10 Jan 2025AR$110.1tAR$47.6tAR$4.3t24.4x25.7x2.3x
Sun, 08 Dec 2024AR$90.1tAR$47.6tAR$4.2t21.8x21.3x1.9x
Tue, 05 Nov 2024AR$74.4tAR$45.8tAR$3.0t24.1x24.6x1.6x
Thu, 03 Oct 2024AR$67.2tAR$45.0tAR$3.0t19.6x22.1x1.5x
Sat, 31 Aug 2024AR$66.8tAR$43.2tAR$2.8t19.9x23.7x1.5x
Mon, 29 Jul 2024AR$63.4tAR$36.6tAR$2.4t18.2x26.7x1.7x
Wed, 26 Jun 2024AR$65.2tAR$36.3tAR$2.4t17.6x27.7x1.8x
Fri, 24 May 2024AR$65.2tAR$39.7tAR$1.7t16.7x37.4x1.6x
Sun, 21 Apr 2024AR$49.7tAR$37.6tAR$635.9b16.2x78.1x1.3x
Tue, 19 Mar 2024AR$47.7tAR$35.3tAR$778.1b26.5x61.3x1.4x
Thu, 15 Feb 2024AR$51.2tAR$14.1tAR$1.7t41x29.5x3.6x
Sat, 13 Jan 2024AR$47.1tAR$13.9tAR$1.7t36.2x27.5x3.4x
Mon, 11 Dec 2023AR$42.4tAR$14.9tAR$1.8t25.8x23.9x2.8x
Wed, 08 Nov 2023AR$27.8tAR$12.5tAR$855.0b22.4x32.5x2.2x
Fri, 06 Oct 2023AR$26.9tAR$12.5tAR$843.2b22.7x31.9x2.2x
Sun, 03 Sep 2023AR$27.2tAR$11.8tAR$724.7b26.6x37.5x2.3x
Tue, 01 Aug 2023AR$19.8tAR$10.5tAR$550.6b21x35.9x1.9x
Thu, 29 Jun 2023AR$17.6tAR$10.4tAR$530.1b22.2x33.2x1.7x
Sat, 27 May 2023AR$14.8tAR$10.5tAR$530.1b17x27.9x1.4x
Mon, 24 Apr 2023AR$12.7tAR$9.8tAR$428.5b15.3x29.6x1.3x
Wed, 22 Mar 2023AR$10.0tAR$9.5tAR$390.7b14.4x25.5x1.1x
Fri, 17 Feb 2023AR$11.3tAR$6.8tAR$394.5b17.6x28.7x1.7x
Price to Earnings Ratio

28.7x


Total Market Cap: AR$11.3tTotal Earnings: AR$394.5bTotal Revenue: AR$6.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 29x202420252026
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 37.0x which is higher than its 3-year average PE of 29.0x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 96% 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-3.74%
Healthcare-0.80%
Utilities-0.90%
Consumer Staples-2.34%
Energy-2.82%
Consumer Discretionary-3.08%
Industrials-3.42%
Telecom-3.66%
Materials-3.92%
Tech-4.65%
Real Estate-4.99%
Financials-5.99%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 14.9x.
    • 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 Consumer Staples sector is expected to see its earnings decline by 32% 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
MOLA Molinos AgroAR$27.90k9.4%
+AR$117.8b		0.6%PE12.8xConsumer Staples
TRAN Compañía de Transporte de Energía Eléctrica en Alta Tensión TransenerAR$4.10k4.6%
+AR$80.0b		69.2%PE13.2xUtilities
EDN Empresa Distribuidora y Comercializadora Norte Sociedad AnónimaAR$2.20k3.4%
+AR$63.0b		-0.6%PE19.3xUtilities
INVJ Inversora JuramentoAR$599.0013.4%
+AR$50.3b		55.2%PS1.5xConsumer Staples
METR MetroGASAR$2.36k2.2%
+AR$28.5b		6.7%PE14.5xUtilities
See more

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Latest News

BMA
AR$13,730.00
Banco Macro
7D
-7.1%
1Y
22.0%
YPFD
AR$56,675.00
YPF Sociedad Anónima
7D
-2.2%
1Y
26.0%

YPFD: Export Agreements And Governance Changes Will Shape A Fairly Valued Outlook

Analysts have raised their price target on YPF Sociedad Anónima from AR$47,800 to AR$55,000, citing revised assumptions around the discount rate, revenue growth, profit margin, and future P/E as key drivers of the updated view. What's in the News A board meeting is set for November 18, 2025, with the agenda not yet publicly detailed.
IRSA
AR$2,370.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
-6.0%
1Y
50.0%
CEPU
AR$2,342.00
Central Puerto
7D
-4.1%
1Y
46.8%

CEPU: Lower Discount Rate Will Support Future Upside Potential

Analysts have nudged their price target on Central Puerto higher, reflecting a lower required discount rate and a reduced future P/E assumption. Together, these factors point to a slightly richer valuation framework, even though fair value remains steady at $2,900.
GGAL
AR$7,435.00
Grupo Financiero Galicia
7D
-7.9%
1Y
-0.9%

GGAL: Argentina Reform Progress Will Drive Upside Through Secular Credit Cycle

Analysts have adjusted their view on Grupo Financiero Galicia with a refreshed price target of US$58. This reflects updated assumptions around discount rates, revenue growth, profit margins and a lower future P/E, while maintaining a balanced stance on Argentina’s longer term growth potential and related risks following the recent share rally.
EDN
AR$2,197.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
3.4%
1Y
-0.6%
PAMP
AR$4,962.50
Pampa Energía
7D
-1.6%
1Y
31.5%

PAMP: Fair Value View Will Reflect Higher Margins And Revised Cash Flow Assumptions

Analysts have revised their fair value estimate for Pampa Energía from $3,400 to $5,400, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple as key drivers of the change. Valuation Changes Fair Value Estimate was raised from ARS 3,400 to ARS 5,400, reflecting the updated model assumptions.
BBAR
AR$9,050.00
Banco BBVA Argentina
7D
-9.1%
1Y
10.4%

BBAR: Weaker Capital Profile And Loan Exposure Will Temper Credit Repricing Potential

Analysts have trimmed their price target on Banco BBVA Argentina to US$15, citing a comparatively weaker profitability outlook, a lower Tier 1 ratio at 18% and higher loan exposure versus peers as key factors behind the shift. Analyst Commentary Recent research highlights a cautious stance on Banco BBVA Argentina, with the latest initiation at a Sell rating and a US$15 price target reinforcing the view that the shares carry meaningful execution and balance sheet risks relative to peers.
TRAN
AR$4,095.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
4.6%
1Y
69.2%
INVJ
AR$599.00
Inversora Juramento
7D
13.4%
1Y
55.2%
SAMI
AR$67.30
S.A. San Miguel.I.C.I. y F
7D
21.0%
1Y
-37.7%
CGPA2
AR$2,660.00
Camuzzi Gas Pampeana
7D
2.5%
1Y
-5.8%
A3
AR$3,275.00
A3 Mercados
7D
1.7%
1Y
57.1%
MOLA
AR$27,900.00
Molinos Agro
7D
9.4%
1Y
0.6%
METR
AR$2,357.00
MetroGAS
7D
2.2%
1Y
6.7%
TGSU2
AR$8,860.00
Transportadora de Gas del Sur
7D
-3.6%
1Y
40.4%