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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies68
  • 7D-1.8%
  • 3M48.7%
  • 1Y0.4%
  • YTD-5.2%

Over the last 7 days, the market has dropped 2.5%, driven by a pullback of 3.1% in the Energy sector. In the last 12 months the market has been flat overall. 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
Thu, 15 Jan 2026AR$110.9tAR$72.8tAR$2.8t15.4x40.2x1.5x
Sat, 13 Dec 2025AR$111.0tAR$72.6tAR$2.8t15.6x39x1.5x
Mon, 10 Nov 2025AR$108.3tAR$71.2tAR$2.7t16.9x40.6x1.5x
Wed, 08 Oct 2025AR$70.2tAR$73.5tAR$5.3t11.7x13.3x1x
Fri, 05 Sep 2025AR$76.4tAR$72.2tAR$5.3t14.8x14.5x1.1x
Sun, 03 Aug 2025AR$90.2tAR$69.4tAR$5.8t16.8x15.5x1.3x
Tue, 01 Jul 2025AR$80.6tAR$69.1tAR$6.0t13x13.4x1.2x
Thu, 29 May 2025AR$92.6tAR$70.5tAR$6.7t15.8x13.9x1.3x
Sat, 26 Apr 2025AR$87.9tAR$68.8tAR$8.2t13.5x10.7x1.3x
Mon, 24 Mar 2025AR$97.1tAR$69.4tAR$8.0t16.2x12.1x1.4x
Wed, 19 Feb 2025AR$91.2tAR$49.1tAR$4.3t22.5x21.1x1.9x
Fri, 17 Jan 2025AR$107.3tAR$47.6tAR$4.3t24.4x25.1x2.3x
Sun, 15 Dec 2024AR$96.3tAR$47.6tAR$4.2t22.7x22.7x2x
Tue, 12 Nov 2024AR$78.3tAR$48.4tAR$2.4t16x32.1x1.6x
Thu, 10 Oct 2024AR$68.4tAR$45.0tAR$3.0t21x22.5x1.5x
Sat, 07 Sep 2024AR$69.2tAR$45.3tAR$3.1t19.9x22.4x1.5x
Mon, 05 Aug 2024AR$59.5tAR$38.0tAR$935.2b16.7x63.6x1.6x
Wed, 03 Jul 2024AR$66.5tAR$36.2tAR$2.4t19.3x28.2x1.8x
Fri, 31 May 2024AR$67.7tAR$43.7tAR$2.5t19.1x27.1x1.6x
Sun, 28 Apr 2024AR$53.0tAR$38.3tAR$836.1b16.7x63.4x1.4x
Tue, 26 Mar 2024AR$51.7tAR$36.2tAR$583.9b27x88.6x1.4x
Thu, 22 Feb 2024AR$47.4tAR$14.1tAR$1.8t33.8x26.8x3.4x
Sat, 20 Jan 2024AR$52.5tAR$13.9tAR$1.7t37.2x30.7x3.8x
Mon, 18 Dec 2023AR$41.4tAR$14.7tAR$1.8t29.9x23.5x2.8x
Wed, 15 Nov 2023AR$27.8tAR$13.8tAR$1.5t23.1x18x2x
Fri, 13 Oct 2023AR$31.2tAR$12.5tAR$841.8b25.4x37x2.5x
Sun, 10 Sep 2023AR$23.1tAR$11.8tAR$729.7b23.6x31.7x2x
Tue, 08 Aug 2023AR$19.4tAR$10.5tAR$566.2b19.6x34.3x1.8x
Thu, 06 Jul 2023AR$18.7tAR$10.4tAR$530.9b21.9x35.1x1.8x
Sat, 03 Jun 2023AR$15.4tAR$10.4tAR$523.8b19x29.4x1.5x
Mon, 01 May 2023AR$13.1tAR$9.8tAR$430.4b17x30.5x1.3x
Wed, 29 Mar 2023AR$10.6tAR$9.6tAR$406.5b14.5x26x1.1x
Fri, 24 Feb 2023AR$10.9tAR$6.3tAR$251.2b18.9x43.3x1.7x
Sun, 22 Jan 2023AR$10.9tAR$6.8tAR$430.3b16.8x25.3x1.6x
Price to Earnings Ratio

25.3x


Total Market Cap: AR$10.9tTotal Earnings: AR$430.3bTotal Revenue: AR$6.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 28.7x202420252026
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 40.7x which is higher than its 3-year average PE of 28.7x.
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-1.82%
Real Estate1.93%
Energy1.85%
Industrials-0.12%
Tech-1.09%
Consumer Staples-1.40%
Materials-1.97%
Consumer Discretionary-2.81%
Healthcare-2.96%
Financials-3.30%
Utilities-3.86%
Telecom-4.59%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 13.2x.
    • 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
YPFD YPF Sociedad AnónimaAR$52.83k3.4%
+AR$676.9b		-1.3%PS1xEnergy
IRSA IRSA Inversiones y Representaciones Sociedad AnónimaAR$2.57k5.5%
+AR$103.0b		38.2%PE4xReal Estate
CRES Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y AgropecuariaAR$1.92k5.5%
+AR$64.3b		25.4%PE7.4xConsumer Staples
TGSU2 Transportadora de Gas del SurAR$8.92k0.7%
+AR$45.2b		25.3%PE19.1xEnergy
CAPX CapexAR$5.04k2.2%
+AR$19.8b		-42.5%PS2.2xEnergy
See more

Market Insights

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Latest News

TECO2
AR$3,315.00
Telecom Argentina
7D
-5.1%
1Y
7.5%
YPFD
AR$52,825.00
YPF Sociedad Anónima
7D
3.4%
1Y
-1.3%

YPFD: Refined Assumptions Will Support Future Upside Potential

Analysts trimmed their price target on YPF Sociedad Anónima to US$44 from US$47, citing updated modeling assumptions that refine estimates for the discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent commentary centers on how the updated model feeds into valuation rather than a change in overall stance.
GGAL
AR$7,765.00
Grupo Financiero Galicia
7D
-6.9%
1Y
-8.4%

GGAL: Election Reforms And Credit Cycle Expectations Will Shape Balanced Risk Outlook

Analysts have lifted their fair value estimate for Grupo Financiero Galicia from $5,591 to $9,030. This reflects updated assumptions on revenue growth, profit margins and future P/E, following recent research that balances improved political and macro signals with ongoing Argentina specific risks.
CEPU
AR$2,413.00
Central Puerto
7D
-3.6%
1Y
40.3%

CEPU: Stable Assumptions And Margin Outlook Will Support Future Upside

Analysts have kept their price target for Central Puerto broadly unchanged at about $2,900. This reflects only marginal tweaks to discount rate, growth, margin and forward P/E assumptions rather than a shift in their overall view.
PAMP
AR$4,935.00
Pampa Energía
7D
-1.7%
1Y
11.7%

PAMP: Future Returns Will Reflect Integrated Power And Gas Monetization Potential

Analysts have raised their price target on Pampa Energía, increasing their fair value estimate from $5,016.50 to approximately $5,747.17. They cited updated expectations related to changes in power generation and the potential monetization of its gas upstream and integrated businesses.
CRES
AR$1,919.00
Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria
7D
5.5%
1Y
25.4%
IRSA
AR$2,570.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
5.5%
1Y
38.2%
EDSH
AR$420.00
EDESA Holding
7D
614.3%
1Y
n/a
CAPX
AR$5,040.00
Capex
7D
2.2%
1Y
-42.5%
TGNO4
AR$4,155.00
Transportadora de Gas del Norte
7D
-6.3%
1Y
0%
VALO
AR$573.00
Banco de Valores
7D
3.4%
1Y
24.7%
ALUA
AR$960.00
Aluar Aluminio ArgentinoI.C
7D
-4.1%
1Y
14.6%
BPAT
AR$2,620.00
Banco Patagonia
7D
-8.2%
1Y
-15.1%
DGCE
AR$2,380.00
Distribuidora de Gas del Centro
7D
1.9%
1Y
15.5%
METR
AR$2,136.00
MetroGAS
7D
-9.6%
1Y
-22.3%
TGSU2
AR$8,920.00
Transportadora de Gas del Sur
7D
0.7%
1Y
25.3%