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Argentinian (MERVAL) Utilities Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies12
  • 7D1.3%
  • 3M-15.8%
  • 1Y22.1%
  • YTD-14.5%

In the last week, the Utilities industry is up 1.8%, with Pampa Energía up 3.7%. Meanwhile, Central Puerto actually underperformed within the industry, shrinking 5.2% in the last week. This means that the industry has gained 13% over the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026AR$17.0tAR$10.5tAR$1.6t10.3x10.5x1.6x
Thu, 05 Feb 2026AR$18.6tAR$10.0tAR$1.5t12.9x12.3x1.9x
Sat, 03 Jan 2026AR$19.7tAR$10.0tAR$1.5t13x13x2x
Mon, 01 Dec 2025AR$19.8tAR$10.1tAR$1.6t12.4x12.8x2x
Wed, 29 Oct 2025AR$15.8tAR$9.8tAR$1.7t9.4x9.4x1.6x
Fri, 26 Sep 2025AR$12.4tAR$9.6tAR$1.6t7.2x7.7x1.3x
Sun, 24 Aug 2025AR$13.0tAR$9.6tAR$1.6t7.1x8x1.4x
Tue, 22 Jul 2025AR$13.5tAR$9.2tAR$1.6t7.8x8.7x1.5x
Thu, 19 Jun 2025AR$13.4tAR$9.2tAR$1.6t7.7x8.6x1.5x
Sat, 17 May 2025AR$15.1tAR$8.8tAR$1.4t9.1x10.6x1.7x
Mon, 14 Apr 2025AR$13.1tAR$7.9tAR$1.4t10.3x9.1x1.7x
Wed, 12 Mar 2025AR$14.2tAR$6.9tAR$1.2t12.4x12.1x2.1x
Fri, 07 Feb 2025AR$15.8tAR$5.4tAR$1.2t17x13x2.9x
Sun, 05 Jan 2025AR$17.1tAR$5.4tAR$1.2t18.7x14.1x3.2x
Tue, 03 Dec 2024AR$14.3tAR$5.4tAR$1.2t15.8x11.8x2.7x
Thu, 31 Oct 2024AR$11.1tAR$4.4tAR$941.3b26.1x11.8x2.5x
Sat, 28 Sep 2024AR$10.0tAR$4.4tAR$941.3b21x10.7x2.3x
Mon, 26 Aug 2024AR$9.4tAR$4.5tAR$939.6b19.2x10x2.1x
Wed, 24 Jul 2024AR$9.2tAR$3.7tAR$836.7b29.6x11x2.5x
Fri, 21 Jun 2024AR$8.9tAR$3.6tAR$832.3b10.6x10.7x2.4x
Sun, 19 May 2024AR$8.4tAR$3.5tAR$743.3b10.2x11.3x2.4x
Tue, 16 Apr 2024AR$7.6tAR$2.4tAR$283.8b21.6x26.8x3.1x
Thu, 14 Mar 2024AR$6.6tAR$2.3tAR$336.2b20.1x19.6x2.9x
Sat, 10 Feb 2024AR$8.1tAR$1.5tAR$342.0b13.7x23.7x5.3x
Mon, 08 Jan 2024AR$7.7tAR$1.5tAR$341.7b12.7x22.4x5x
Wed, 06 Dec 2023AR$5.7tAR$1.5tAR$351.7b10.4x16.2x3.8x
Fri, 03 Nov 2023AR$4.0tAR$1.2tAR$206.9b51.6x19.4x3.4x
Sun, 01 Oct 2023AR$3.7tAR$1.2tAR$206.9b43.7x17.7x3.1x
Tue, 29 Aug 2023AR$4.2tAR$1.2tAR$179.7b33.8x23.3x3.5x
Thu, 27 Jul 2023AR$3.0tAR$1.0tAR$121.9b29.2x24.8x2.9x
Sat, 24 Jun 2023AR$2.8tAR$1.0tAR$121.9b27.6x22.7x2.7x
Mon, 22 May 2023AR$2.3tAR$1.1tAR$128.3b23.4x17.8x2.2x
Wed, 19 Apr 2023AR$1.9tAR$1.0tAR$121.0b20.6x16x1.9x
Fri, 17 Mar 2023AR$1.5tAR$926.9bAR$98.7b15.6x14.8x1.6x
Price to Earnings Ratio

14.8x


Total Market Cap: AR$1.5tTotal Earnings: AR$98.7bTotal Revenue: AR$926.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Utilities Sector Price to Earnings3Y Average 14.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Argentinean Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 10.5x which is lower than its 3-year average PE of 14.6x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 154% per year over the last three years.
  • Revenues for these companies have grown 125% 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 Utilities sector?

AR Market1.83%
Utilities1.27%
Gas Utilities3.76%
Electric Utilities2.70%
Renewable Energy-4.85%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 9.1%, which is higher than its past year's earnings decline of 29.9% per year.
  • Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 18.7x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 39% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 9.1% 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
PAMP Pampa EnergíaAR$4.71k3.7%
+AR$225.1b		28.2%PE11.8x
TRAN Compañía de Transporte de Energía Eléctrica en Alta Tensión TransenerAR$4.09k8.4%
+AR$141.2b		93.1%PE13.2x
CGPA2 Camuzzi Gas PampeanaAR$2.40k16.8%
+AR$115.0b		-5.3%PE32.3x
ECOG Ecogas InversionesAR$2.87k3.4%
+AR$21.8b		6.5%PE8.8x
GBAN Naturgy BANAR$1.99k2.1%
+AR$13.0b		9.7%PE3.5x

Latest News

CGPA2
AR$2,400.00
Camuzzi Gas Pampeana
7D
16.8%
1Y
-5.3%
CEPU
AR$2,130.00
Central Puerto
7D
-5.2%
1Y
50.0%

CEPU: Reaffirmed Fair Value And Stable Assumptions Will Support Future Upside

Analysts have reaffirmed their ARS 2,900 price target for Central Puerto, as updated assumptions on discount rate, revenue growth, profit margin, and forward P/E are seen as broadly consistent with their prior view on the stock. Valuation Changes Fair value: ARS 2,900 remains unchanged, with the updated estimate matching the prior figure.
PAMP
AR$4,705.00
Pampa Energía
7D
3.7%
1Y
28.2%

PAMP: Future Returns Will Reflect Buybacks And Improved Margin And Risk Outlook

Analysts now see fair value for Pampa Energía at ARS 6,149.67, up from ARS 5,747.17, citing updated assumptions around revenue growth, profit margins, and a lower discount rate that also indicate a reduced future P/E estimate. What's in the News Pampa Energía completed a share buyback tranche between September 8, 2025 and March 2, 2026, repurchasing 830,000 shares for $168.8 million.
TRAN
AR$4,085.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
8.4%
1Y
93.1%
GBAN
AR$1,985.00
Naturgy BAN
7D
2.1%
1Y
9.7%
EDN
AR$1,881.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
-6.0%
1Y
-4.8%
DGCU2
AR$1,610.00
Distribuidora de Gas Cuyana
7D
0.3%
1Y
-1.5%
DGCE
AR$1,930.00
Distribuidora de Gas del Centro
7D
1.3%
1Y
-3.7%
CECO2
AR$367.00
Central Costanera
7D
0.8%
1Y
-31.5%
ECOG
AR$2,870.00
Ecogas Inversiones
7D
3.4%
1Y
6.5%
METR
AR$1,884.00
MetroGAS
7D
-1.2%
1Y
-9.2%