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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies68
  • 7D-6.8%
  • 3M-0.08%
  • 1Y15.4%
  • YTD-3.5%

Over the last 7 days, the market has dropped 6.8%, driven by declines in every sector, especially the Financials sector. As for the longer term, the market has actually risen by 15% in the last year. 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
Sun, 08 Feb 2026AR$110.2tAR$72.6tAR$3.0t15.2x37x1.5x
Tue, 06 Jan 2026AR$115.1tAR$72.8tAR$2.8t16.4x41.2x1.6x
Thu, 04 Dec 2025AR$113.7tAR$73.3tAR$2.9t16.7x38.6x1.6x
Sat, 01 Nov 2025AR$105.3tAR$73.7tAR$5.3t18.2x20x1.4x
Mon, 29 Sep 2025AR$69.9tAR$73.3tAR$5.2t11.7x13.4x1x
Wed, 27 Aug 2025AR$79.9tAR$72.2tAR$5.1t12.9x15.8x1.1x
Fri, 25 Jul 2025AR$82.6tAR$69.3tAR$5.7t15.4x14.6x1.2x
Sun, 22 Jun 2025AR$81.8tAR$69.1tAR$6.0t13.7x13.6x1.2x
Tue, 20 May 2025AR$91.9tAR$71.4tAR$6.4t14.9x14.3x1.3x
Thu, 17 Apr 2025AR$90.7tAR$68.1tAR$8.0t13.7x11.3x1.3x
Sat, 15 Mar 2025AR$89.6tAR$72.0tAR$8.5t15.3x10.6x1.2x
Mon, 10 Feb 2025AR$96.6tAR$48.2tAR$4.2t22.4x22.7x2x
Wed, 08 Jan 2025AR$110.9tAR$47.6tAR$4.3t24.8x25.9x2.3x
Fri, 06 Dec 2024AR$90.7tAR$47.6tAR$4.2t21.7x21.4x1.9x
Sun, 03 Nov 2024AR$74.4tAR$45.8tAR$3.0t24.3x24.6x1.6x
Tue, 01 Oct 2024AR$68.5tAR$45.0tAR$3.0t19.2x22.6x1.5x
Thu, 29 Aug 2024AR$65.5tAR$43.2tAR$2.8t19.2x23.2x1.5x
Sat, 27 Jul 2024AR$63.5tAR$36.6tAR$2.4t18.8x26.7x1.7x
Mon, 24 Jun 2024AR$66.1tAR$36.3tAR$2.4t17.6x28.1x1.8x
Wed, 22 May 2024AR$64.6tAR$39.4tAR$1.8t16.8x36.5x1.6x
Fri, 19 Apr 2024AR$49.0tAR$37.8tAR$655.2b16.1x74.8x1.3x
Sun, 17 Mar 2024AR$45.7tAR$35.2tAR$780.0b26.3x58.6x1.3x
Tue, 13 Feb 2024AR$51.2tAR$14.0tAR$1.8t43.4x28.9x3.7x
Thu, 11 Jan 2024AR$47.2tAR$13.9tAR$1.7t35x27.7x3.4x
Sat, 09 Dec 2023AR$42.4tAR$14.9tAR$1.8t25.8x23.9x2.8x
Mon, 06 Nov 2023AR$27.8tAR$12.5tAR$855.0b23.5x32.5x2.2x
Wed, 04 Oct 2023AR$24.5tAR$12.5tAR$844.9b21.3x28.9x2x
Fri, 01 Sep 2023AR$27.8tAR$11.8tAR$724.6b26.1x38.3x2.4x
Sun, 30 Jul 2023AR$19.4tAR$10.5tAR$550.6b20.7x35.3x1.9x
Tue, 27 Jun 2023AR$18.3tAR$10.4tAR$530.0b21.7x34.6x1.8x
Thu, 25 May 2023AR$14.8tAR$10.3tAR$525.4b17.8x28.2x1.4x
Sat, 22 Apr 2023AR$12.7tAR$9.8tAR$428.5b15.2x29.6x1.3x
Mon, 20 Mar 2023AR$9.7tAR$9.5tAR$389.3b14.1x24.8x1x
Wed, 15 Feb 2023AR$11.4tAR$6.8tAR$394.9b17.4x28.8x1.7x
Price to Earnings Ratio

28.8x


Total Market Cap: AR$11.4tTotal Earnings: AR$394.9bTotal 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-6.75%
Consumer Staples-2.67%
Materials-4.00%
Healthcare-4.45%
Consumer Discretionary-4.77%
Utilities-4.78%
Tech-5.45%
Energy-5.87%
Real Estate-6.58%
Industrials-7.32%
Financials-8.37%
Telecom-10.85%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading above its 3-year average PE ratio of 14.7x.
    • 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
TRAN Compañía de Transporte de Energía Eléctrica en Alta Tensión TransenerAR$4.00k4.0%
+AR$68.9b		54.1%PE12.9xUtilities
MOLA Molinos AgroAR$26.65k1.7%
+AR$22.1b		-7.1%PE12.2xConsumer Staples
INVJ Inversora JuramentoAR$572.005.7%
+AR$21.9b		45.9%PS1.4xConsumer Staples
PATA Sociedad Anónima Importadora y Exportadora de la PatagoniaAR$1.37k0.7%
+AR$5.0b		-11.9%PE25.7xConsumer Staples
EDSH EDESA HoldingAR$700.007.7%
+AR$1.1b		n/aPE0.3xUtilities
See more

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Latest News

CEPU
AR$2,357.00
Central Puerto
7D
-7.5%
1Y
45.5%

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$7,470.00
Grupo Financiero Galicia
7D
-10.1%
1Y
-1.7%

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.
BMA
AR$13,840.00
Banco Macro
7D
-9.5%
1Y
22.7%

BMA: High Capital Strength And Fintech Partnership Will Support Future Upside

The analyst price target for Banco Macro has increased from US$18,960.00 to US$24,522.06. Analysts cite the bank's high capital ratios, relatively stable net interest margins, lower asset quality risks, and a more balanced sector view following recent share rallies as key reasons for the revision.
YPFD
AR$56,900.00
YPF Sociedad Anónima
7D
-4.7%
1Y
25.3%
PAMP
AR$4,985.00
Pampa Energía
7D
-4.4%
1Y
28.1%

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$8,970.00
Banco BBVA Argentina
7D
-11.8%
1Y
7.2%

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.
EDSH
AR$700.00
EDESA Holding
7D
7.7%
1Y
n/a
TRAN
AR$4,000.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
4.0%
1Y
54.1%
TECO2
AR$3,547.50
Telecom Argentina
7D
-12.4%
1Y
26.7%
INVJ
AR$572.00
Inversora Juramento
7D
5.7%
1Y
45.9%
IEB
AR$704.00
IEB Construcciones
7D
0.7%
1Y
n/a
DOME
AR$82.00
DOMEC Compañía de Artefactos DomésticosI.C.y F
7D
4.3%
1Y
10.1%
PATA
AR$1,365.00
Sociedad Anónima Importadora y Exportadora de la Patagonia
7D
0.7%
1Y
-11.9%
MOLA
AR$26,650.00
Molinos Agro
7D
1.7%
1Y
-7.1%
TGSU2
AR$8,865.00
Transportadora de Gas del Sur
7D
-8.2%
1Y
40.5%
GARO
AR$213.50
Garovaglio y Zorraquín
7D
6.8%
1Y
-34.7%