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Argentinian (MERVAL) Financials Sector Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies11
  • 7D2.0%
  • 3M-22.1%
  • 1Y-4.4%
  • YTD-20.8%

Banco Macro is up 3.9%, leading the way for the Financials industry, which has gained 2.0%. In contrast, the industry has lost 4.4% in the last 12 months. Earnings are forecast to grow by 32% annually.

Sector Valuation and Performance

Has the Argentinian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026AR$28.6tAR$16.8tAR$1.1t16.7x24.9x1.7x
Mon, 23 Feb 2026AR$32.9tAR$12.1tAR$1.5t16.7x21.5x2.7x
Wed, 21 Jan 2026AR$34.4tAR$12.1tAR$1.5t18.1x22.5x2.8x
Fri, 19 Dec 2025AR$34.7tAR$12.2tAR$1.5t18.2x22.6x2.8x
Sun, 16 Nov 2025AR$33.4tAR$13.6tAR$2.2t17x15x2.4x
Tue, 14 Oct 2025AR$20.5tAR$13.6tAR$2.2t10.8x9.3x1.5x
Thu, 11 Sep 2025AR$18.2tAR$13.6tAR$2.1t10.4x8.5x1.3x
Sat, 09 Aug 2025AR$39.4tAR$14.4tAR$2.1t12.8x18.3x2.7x
Mon, 07 Jul 2025AR$25.7tAR$14.4tAR$2.1t11.9x11.9x1.8x
Wed, 04 Jun 2025AR$28.2tAR$14.4tAR$2.0t14.2x13.8x2x
Fri, 02 May 2025AR$29.5tAR$18.9tAR$2.7t11.4x10.8x1.6x
Sun, 30 Mar 2025AR$29.7tAR$18.8tAR$2.7t12.4x11x1.6x
Tue, 25 Feb 2025AR$29.9tAR$11.9tAR$1.8t16.7x16.7x2.5x
Thu, 23 Jan 2025AR$33.5tAR$11.9tAR$1.8t16.7x18.7x2.8x
Sat, 21 Dec 2024AR$28.7tAR$11.3tAR$1.8t16.7x15.8x2.5x
Mon, 18 Nov 2024AR$24.4tAR$14.9tAR$1.9t16.7x13x1.6x
Wed, 16 Oct 2024AR$22.2tAR$14.2tAR$1.8t14.7x12.6x1.6x
Fri, 13 Sep 2024AR$21.1tAR$14.7tAR$1.8t16.7x11.5x1.4x
Sun, 11 Aug 2024AR$17.8tAR$12.7tAR$1.8t16.7x10.1x1.4x
Tue, 09 Jul 2024AR$18.0tAR$12.7tAR$1.8t16.6x10.1x1.4x
Thu, 06 Jun 2024AR$19.6tAR$12.7tAR$1.8t16.7x10.9x1.5x
Sat, 04 May 2024AR$15.7tAR$10.2tAR$1.4t14.1x11x1.5x
Mon, 01 Apr 2024AR$13.0tAR$10.2tAR$1.4t11.2x9.2x1.3x
Wed, 28 Feb 2024AR$10.4tAR$3.5tAR$441.9b20.7x23.4x2.9x
Fri, 26 Jan 2024AR$10.7tAR$3.2tAR$376.1b35.6x28.3x3.3x
Sun, 24 Dec 2023AR$7.5tAR$3.2tAR$377.0b22.8x19.9x2.3x
Tue, 21 Nov 2023AR$4.6tAR$2.6tAR$309.4b15.2x14.8x1.8x
Thu, 19 Oct 2023AR$4.9tAR$2.6tAR$304.0b16.1x16.1x1.9x
Sat, 16 Sep 2023AR$4.5tAR$2.6tAR$303.8b16.1x14.9x1.7x
Mon, 14 Aug 2023AR$4.0tAR$2.2tAR$195.3b25.3x20.3x1.8x
Wed, 12 Jul 2023AR$3.6tAR$2.2tAR$195.3b22.1x18.2x1.6x
Fri, 09 Jun 2023AR$3.1tAR$2.2tAR$195.4b17.9x15.7x1.4x
Sun, 07 May 2023AR$2.3tAR$2.0tAR$174.8b13.7x13.2x1.1x
Tue, 04 Apr 2023AR$2.1tAR$1.9tAR$165.1b14.2x12.6x1.1x
Price to Earnings Ratio

12.6x


Total Market Cap: AR$2.1tTotal Earnings: AR$165.1bTotal Revenue: AR$1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Financials Sector Price to Earnings3Y Average 15.1x202420252026
Current Industry PE
  • Investors are optimistic on the Argentinean Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 24.9x which is higher than its 3-year average PE of 15.1x.
  • The 3-year average PS ratio of 1.9x is higher than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 91% per year over the last three years.
  • Revenues for these companies have grown 106% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Argentinian Financials sector?

AR Market3.10%
Financials2.05%
Banks2.67%
Capital Markets-2.02%
Industry PE
  • Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 14.4x.
    • Analysts are expecting annual earnings growth of 33.3%, which is higher than its past year's earnings decline of 53.0% per year.
  • Investors are most pessimistic about the Capital Markets industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 53% per year.
  • In contrast, the Capital Markets industry is expected to see its earnings grow by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BMA Banco MacroAR$10.27k3.9%
+AR$249.4b		0.7%PB1.3x
BBAR Banco BBVA ArgentinaAR$6.95k5.5%
+AR$220.6b		-14.5%PB1.2x
BPAT Banco PatagoniaAR$2.03k2.3%
+AR$32.4b		-10.8%PB0.9x
SUPV Grupo SupervielleAR$2.43k1.9%
+AR$19.7b		-31.6%PB1.1x
BHIP Banco HipotecarioAR$337.500.4%
+AR$2.2b		-28.7%PB0.9x

Latest News

BMA
AR$10,270.00
Banco Macro
7D
3.9%
1Y
0.7%
GGAL
AR$6,290.00
Grupo Financiero Galicia
7D
-0.3%
1Y
-14.0%

GGAL: Recalibrated Expectations And Upcoming Cash Dividends Will Support Bullish Case

Analysts trimmed their 12 month price target for Grupo Financiero Galicia to ARS72 from ARS75, citing updated assumptions for revenue growth, profit margin and forward P/E that modestly recalibrate expected returns while maintaining a positive fundamental view. Analyst Commentary Even with the trimmed 12 month price target to ARS72, recent Street commentary still leans supportive of Grupo Financiero Galicia, pointing to an investment case that remains intact in the eyes of several bullish analysts.
BHIP
AR$337.50
Banco Hipotecario
7D
0.4%
1Y
-28.7%
BBAR
AR$6,950.00
Banco BBVA Argentina
7D
5.5%
1Y
-14.5%
SUPV
AR$2,430.00
Grupo Supervielle
7D
1.9%
1Y
-31.6%

SUPV: Lower Future P/E And Share Cancellation Will Support Upside Potential

Analysts have trimmed their ARS price target on Grupo Supervielle to ARS3,351.50 from ARS3,801.50, reflecting updated assumptions on revenue growth, profit margins, and a lower future P/E multiple in line with recent Street revisions to the stock. Analyst Commentary Street research around Grupo Supervielle has turned a bit more cautious, with JPMorgan trimming its price target on the U.S. line of the stock to US$11 from US$12 while keeping a Neutral stance.
VALO
AR$589.00
Banco de Valores
7D
-1.3%
1Y
84.4%
A3
AR$2,875.00
A3 Mercados
7D
-2.5%
1Y
29.8%
BYMA
AR$306.75
Bolsas y Mercados Argentinos
7D
-2.1%
1Y
37.4%
BPAT
AR$2,025.00
Banco Patagonia
7D
2.3%
1Y
-10.8%