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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies70
  • 7D-1.9%
  • 3M24.6%
  • 1Y38.0%
  • YTD3.2%

Over the last 7 days, the market has dropped 3.9%, driven by a decline of 8.9% in the Financials sector. In contrast, the Materials sector has actually gained 8.2%. As for the longer term, the market has actually risen by 39% in the last year. Looking forward, earnings are forecast to grow by 46% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 12 Nov 2025AR$108.2tAR$71.4tAR$2.6t18.8x42x1.5x
Fri, 10 Oct 2025AR$70.3tAR$73.5tAR$5.3t12.8x13.4x1x
Sun, 07 Sep 2025AR$78.5tAR$72.1tAR$5.2t15x15.1x1.1x
Tue, 05 Aug 2025AR$90.2tAR$69.4tAR$5.8t16.7x15.5x1.3x
Thu, 03 Jul 2025AR$79.7tAR$69.1tAR$6.0t13.6x13.3x1.2x
Sat, 31 May 2025AR$91.0tAR$70.2tAR$6.6t15.6x13.9x1.3x
Mon, 28 Apr 2025AR$87.6tAR$68.8tAR$8.2t13.5x10.7x1.3x
Wed, 26 Mar 2025AR$97.1tAR$69.4tAR$8.1t15.8x12x1.4x
Fri, 21 Feb 2025AR$97.2tAR$49.1tAR$4.3t20.3x22.4x2x
Sun, 19 Jan 2025AR$100.1tAR$48.8tAR$4.3t23.4x23.4x2x
Tue, 17 Dec 2024AR$96.3tAR$47.6tAR$4.2t23.4x22.7x2x
Thu, 14 Nov 2024AR$79.9tAR$48.9tAR$2.6t17x31.2x1.6x
Sat, 12 Oct 2024AR$70.3tAR$45.9tAR$3.0t21.1x23x1.5x
Mon, 09 Sep 2024AR$69.2tAR$45.4tAR$3.1t19.9x22.4x1.5x
Wed, 07 Aug 2024AR$58.7tAR$38.0tAR$932.9b18.4x63x1.5x
Fri, 05 Jul 2024AR$66.8tAR$36.2tAR$2.4t18.6x28.4x1.8x
Sun, 02 Jun 2024AR$68.8tAR$43.7tAR$3.3t20x20.9x1.6x
Tue, 30 Apr 2024AR$53.0tAR$38.3tAR$834.3b16.7x63.5x1.4x
Thu, 28 Mar 2024AR$51.2tAR$36.3tAR$581.9b28.8x88x1.4x
Sat, 24 Feb 2024AR$49.4tAR$14.1tAR$1.8t36.3x28x3.5x
Mon, 22 Jan 2024AR$52.9tAR$13.9tAR$1.7t39.3x30.9x3.8x
Wed, 20 Dec 2023AR$41.4tAR$14.0tAR$1.7t30.7x23.8x3x
Fri, 17 Nov 2023AR$26.2tAR$14.0tAR$1.4t20.3x18.5x1.9x
Sun, 15 Oct 2023AR$33.0tAR$12.5tAR$840.0b24.7x39.2x2.6x
Tue, 12 Sep 2023AR$22.3tAR$11.8tAR$729.7b22x30.6x1.9x
Thu, 10 Aug 2023AR$19.7tAR$10.5tAR$566.2b19.7x34.8x1.9x
Sat, 08 Jul 2023AR$18.3tAR$10.4tAR$530.9b20.6x34.4x1.8x
Mon, 05 Jun 2023AR$15.4tAR$10.4tAR$525.6b18.6x29.3x1.5x
Wed, 03 May 2023AR$12.9tAR$9.7tAR$429.0b16.6x30.1x1.3x
Fri, 31 Mar 2023AR$11.0tAR$9.6tAR$406.9b14.8x27x1.1x
Sun, 26 Feb 2023AR$10.9tAR$6.3tAR$251.2b18.4x43.3x1.7x
Tue, 24 Jan 2023AR$11.0tAR$6.8tAR$430.3b16.9x25.6x1.6x
Thu, 22 Dec 2022AR$7.8tAR$6.8tAR$435.1b13.2x17.8x1.1x
Sat, 19 Nov 2022AR$7.0tAR$6.6tAR$423.9b11.3x16.5x1x
Price to Earnings Ratio

16.5x


Total Market Cap: AR$7.0tTotal Earnings: AR$423.9bTotal Revenue: AR$6.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 27.5x202320242025
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 42.0x which is higher than its 3-year average PE of 27.5x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 83% per year over the last three years.
  • Revenues for these companies have grown 120% 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-1.95%
Materials8.82%
Real Estate6.57%
Industrials4.50%
Healthcare1.70%
Consumer Staples1.19%
Energy1.01%
Consumer Discretionary0.42%
Tech0%0
Telecom-0.18%
Utilities-1.72%
Financials-8.30%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 30.2x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 110% 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$351.0011,296.1%
+AR$3.5t		3,765.6%PS17.9xMaterials
ALUA Aluar Aluminio ArgentinoI.CAR$1.12k15.8%
+AR$429.8b		38.6%PE418.9xMaterials
YPFD YPF Sociedad AnónimaAR$56.05k1.2%
+AR$264.9b		60.8%PS1.3xEnergy
TXAR Ternium ArgentinaAR$858.505.8%
+AR$212.3b		8.7%PE235.7xMaterials
TRAN Compañía de Transporte de Energía Eléctrica en Alta Tensión TransenerAR$3.48k15.6%
+AR$209.0b		68.1%PE10.6xUtilities
See more

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TRAN
AR$3,480.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
15.6%
1Y
68.1%
A3
AR$3,610.00
A3 Mercados
7D
16.5%
1Y
45.2%
YPFD
AR$56,050.00
YPF Sociedad Anónima
7D
1.2%
1Y
60.8%
BYMA
AR$284.50
Bolsas y Mercados Argentinos
7D
-10.5%
1Y
69.1%
IRSA
AR$2,180.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
8.2%
1Y
36.7%
BBAR
AR$7,635.00
Banco BBVA Argentina
7D
-11.1%
1Y
24.8%

BBAR: Shares Will Benefit From Reduced Political Risk After Recent Election

Analysts have raised their price target for Banco BBVA Argentina from ARS 7,817 to ARS 11,606. They cite renewed optimism in the bank's growth prospects following recent election results, which are expected to reduce risk and support a stronger credit cycle.
GGAL
AR$8,145.00
Grupo Financiero Galicia
7D
-10.1%
1Y
28.1%
BMA
AR$12,450.00
Banco Macro
7D
-7.8%
1Y
34.4%
CEPU
AR$2,203.00
Central Puerto
7D
-9.3%
1Y
54.1%
SUPV
AR$3,390.00
Grupo Supervielle
7D
-11.5%
1Y
47.1%
PAMP
AR$5,185.00
Pampa Energía
7D
-3.1%
1Y
54.3%
TXAR
AR$858.50
Ternium Argentina
7D
5.8%
1Y
8.7%
GBAN
AR$2,445.00
Naturgy BAN
7D
15.3%
1Y
44.7%
BPAT
AR$2,405.00
Banco Patagonia
7D
-9.4%
1Y
10.1%
CELU
AR$351.00
Celulosa Argentina
7D
11,296.1%
1Y
3,765.6%
ALUA
AR$1,124.00
Aluar Aluminio ArgentinoI.C
7D
15.8%
1Y
38.6%