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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedFeb 15, 2026
DataAggregated Company Financials
Companies68
  • 7D-5.1%
  • 3M-5.7%
  • 1Y10.1%
  • YTD-8.6%

Over the last 7 days, the market has dropped 5.1%, driven by a decline of 8.5% in the Financials sector. In the last year, the market is actually up 10%. As for the next few years, earnings are expected to grow by 50% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Feb 2026AR$104.3tAR$72.6tAR$3.0t14.3x35.1x1.4x
Tue, 13 Jan 2026AR$112.6tAR$72.8tAR$2.8t15.7x40.5x1.5x
Thu, 11 Dec 2025AR$111.7tAR$72.7tAR$2.9t15.9x38.8x1.5x
Sat, 08 Nov 2025AR$111.7tAR$73.8tAR$5.6t17.1x20x1.5x
Mon, 06 Oct 2025AR$70.0tAR$73.5tAR$5.3t11.7x13.3x1x
Wed, 03 Sep 2025AR$77.1tAR$72.5tAR$5.4t14.5x14.4x1.1x
Fri, 01 Aug 2025AR$91.2tAR$69.4tAR$5.8t17x15.7x1.3x
Sun, 29 Jun 2025AR$80.6tAR$69.1tAR$6.0t13.2x13.4x1.2x
Tue, 27 May 2025AR$92.2tAR$70.4tAR$6.9t13.8x13.5x1.3x
Thu, 24 Apr 2025AR$85.0tAR$68.5tAR$8.2t14.1x10.4x1.2x
Sat, 22 Mar 2025AR$94.4tAR$69.4tAR$8.0t16.2x11.7x1.4x
Mon, 17 Feb 2025AR$96.3tAR$49.2tAR$4.3t22.9x22.6x2x
Wed, 15 Jan 2025AR$117.1tAR$47.6tAR$4.3t25.1x27.4x2.5x
Fri, 13 Dec 2024AR$93.5tAR$47.6tAR$4.2t22.4x22.1x2x
Sun, 10 Nov 2024AR$78.3tAR$47.1tAR$2.5t16.4x31x1.7x
Tue, 08 Oct 2024AR$69.5tAR$45.0tAR$3.0t20.4x22.9x1.5x
Thu, 05 Sep 2024AR$69.3tAR$44.6tAR$2.8t20.1x24.4x1.6x
Sat, 03 Aug 2024AR$61.9tAR$37.9tAR$915.9b16.7x67.5x1.6x
Mon, 01 Jul 2024AR$67.4tAR$36.3tAR$2.4t18.7x28.6x1.9x
Wed, 29 May 2024AR$65.5tAR$40.8tAR$2.0t18x33.4x1.6x
Fri, 26 Apr 2024AR$51.5tAR$37.8tAR$659.1b16.4x78.1x1.4x
Sun, 24 Mar 2024AR$51.7tAR$36.2tAR$585.9b28x88.3x1.4x
Tue, 20 Feb 2024AR$48.1tAR$14.1tAR$1.8t33.8x27.2x3.4x
Thu, 18 Jan 2024AR$50.6tAR$13.9tAR$1.7t37.8x29.6x3.6x
Sat, 16 Dec 2023AR$43.8tAR$14.7tAR$1.8t29.9x24.9x3x
Mon, 13 Nov 2023AR$28.7tAR$13.5tAR$1.4t21.9x20.8x2.1x
Wed, 11 Oct 2023AR$30.4tAR$12.5tAR$843.2b23.8x36x2.4x
Fri, 08 Sep 2023AR$23.7tAR$11.9tAR$737.1b23.5x32.2x2x
Sun, 06 Aug 2023AR$19.4tAR$10.5tAR$550.6b20.3x35.3x1.9x
Tue, 04 Jul 2023AR$18.6tAR$10.4tAR$530.9b21.4x35.1x1.8x
Thu, 01 Jun 2023AR$15.0tAR$10.4tAR$522.6b17.5x28.6x1.4x
Sat, 29 Apr 2023AR$13.1tAR$9.8tAR$430.4b17x30.5x1.3x
Mon, 27 Mar 2023AR$9.6tAR$9.5tAR$403.0b14.6x23.9x1x
Wed, 22 Feb 2023AR$11.0tAR$6.3tAR$251.3b17.8x43.6x1.7x
Price to Earnings Ratio

43.6x


Total Market Cap: AR$11.0tTotal Earnings: AR$251.3bTotal Revenue: AR$6.3tTotal 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 35.5x which is higher than its 3-year average PE of 29.0x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 128% per year over the last three years.
  • Revenues for these companies have grown 126% 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-5.10%
Healthcare1.74%
Materials-0.70%
Tech-1.84%
Consumer Discretionary-2.95%
Energy-3.14%
Industrials-3.14%
Utilities-3.19%
Telecom-5.57%
Consumer Staples-5.93%
Real Estate-6.38%
Financials-8.50%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 15.2x.
    • Analysts are expecting annual earnings decline of 18.7% 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 19% 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
TGNO4 Transportadora de Gas del NorteAR$4.37k5.8%
+AR$104.4b		18.2%PE10.2xEnergy
TXAR Ternium ArgentinaAR$702.502.0%
+AR$61.0b		-14.2%PE192.9xMaterials
RICH Laboratorios RichmondC.I.FAR$1.93k1.8%
+AR$2.8b		26.6%PS1.5xHealthcare
IEB IEB ConstruccionesAR$757.007.5%
+AR$1.6b		n/an/aIndustrials
FIPL FiplastoAR$228.502.9%
+AR$865.9m		-29.9%PS0.9xMaterials
See more

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BBAR
AR$7,955.00
Banco BBVA Argentina
7D
-11.3%
1Y
-2.6%
PAMP
AR$4,840.00
Pampa Energía
7D
-2.9%
1Y
22.8%
TECO2
AR$3,330.00
Telecom Argentina
7D
-6.1%
1Y
24.5%
RICH
AR$1,930.00
Laboratorios RichmondC.I.F
7D
1.8%
1Y
26.6%
BMA
AR$12,700.00
Banco Macro
7D
-8.2%
1Y
15.2%
YPFD
AR$54,650.00
YPF Sociedad Anónima
7D
-4.0%
1Y
21.3%

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.
GGAL
AR$6,695.00
Grupo Financiero Galicia
7D
-10.4%
1Y
-5.8%

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.
TXAR
AR$702.50
Ternium Argentina
7D
2.0%
1Y
-14.2%
REGE
AR$60.50
García Reguera Sociedad Anónima Comercial Industrial Financiera e Inmobiliaria
7D
0.5%
1Y
17.5%
IEB
AR$757.00
IEB Construcciones
7D
7.5%
1Y
n/a
SAMI
AR$61.30
S.A. San Miguel.I.C.I. y F
7D
0.8%
1Y
-45.3%
TGNO4
AR$4,367.50
Transportadora de Gas del Norte
7D
5.8%
1Y
18.2%
BPAT
AR$2,385.00
Banco Patagonia
7D
-9.3%
1Y
0.2%
TGSU2
AR$8,615.00
Transportadora de Gas del Sur
7D
-2.8%
1Y
30.1%
FIPL
AR$228.50
Fiplasto
7D
2.9%
1Y
-29.9%