Narrative Update • Aug 14
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Argentinian (MERVAL) Market Analysis & Valuation
UpdatedAug 16, 2026
DataAggregated Company Financials
Companies69
- 7D-2.8%
- 3M7.3%
- 1Y32.4%
- YTD-1.3%
Over the last 7 days, the market has dropped 2.9%, driven by a loss of 6.3% in the Financials sector. As for the longer term, the market has actually risen by 32% in the last year. Looking forward, earnings are forecast to grow by 22% annually.
Trending IndustriesOil and Gas
Market Valuation and Performance
Has the Argentinian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Aug 2026 | AR$114.3t | AR$103.0t | AR$7.6t | 11.3x | 15x | 1.1x |
| Tue, 14 Jul 2026 | AR$123.2t | AR$97.1t | AR$5.0t | 13.7x | 24.7x | 1.3x |
| Thu, 11 Jun 2026 | AR$120.4t | AR$95.7t | AR$4.7t | 12.7x | 25.6x | 1.3x |
| Sat, 09 May 2026 | AR$106.2t | AR$92.5t | AR$3.9t | 13.4x | 26.9x | 1.1x |
| Mon, 06 Apr 2026 | AR$112.5t | AR$91.0t | AR$3.3t | 13.4x | 34.3x | 1.2x |
| Wed, 04 Mar 2026 | AR$97.7t | AR$78.2t | AR$3.4t | 13.3x | 28.4x | 1.2x |
| Fri, 30 Jan 2026 | AR$118.8t | AR$72.6t | AR$3.0t | 15.8x | 39.7x | 1.6x |
| Sun, 28 Dec 2025 | AR$114.7t | AR$72.6t | AR$2.8t | 16.7x | 41.2x | 1.6x |
| Tue, 25 Nov 2025 | AR$104.6t | AR$75.4t | AR$3.6t | 15.4x | 29.3x | 1.4x |
| Thu, 23 Oct 2025 | AR$76.5t | AR$73.7t | AR$5.3t | 12.7x | 14.3x | 1x |
| Sat, 20 Sep 2025 | AR$66.8t | AR$73.6t | AR$5.3t | 10.8x | 12.6x | 0.9x |
| Mon, 18 Aug 2025 | AR$86.8t | AR$72.9t | AR$5.1t | 14.9x | 17.2x | 1.2x |
| Wed, 16 Jul 2025 | AR$81.9t | AR$69.2t | AR$5.7t | 14.8x | 14.4x | 1.2x |
| Fri, 13 Jun 2025 | AR$86.3t | AR$68.8t | AR$5.9t | 15.4x | 14.7x | 1.3x |
| Sun, 11 May 2025 | AR$84.1t | AR$68.7t | AR$8.0t | 13.1x | 10.5x | 1.2x |
| Tue, 08 Apr 2025 | AR$84.1t | AR$68.2t | AR$8.1t | 13.4x | 10.4x | 1.2x |
| Thu, 06 Mar 2025 | AR$89.2t | AR$56.4t | AR$5.1t | 20x | 17.4x | 1.6x |
| Sat, 01 Feb 2025 | AR$103.6t | AR$48.2t | AR$4.2t | 24.4x | 24.4x | 2.2x |
| Mon, 30 Dec 2024 | AR$103.6t | AR$47.7t | AR$4.3t | 24.1x | 24.2x | 2.2x |
| Wed, 27 Nov 2024 | AR$89.8t | AR$48.6t | AR$4.1t | 19x | 21.8x | 1.8x |
| Fri, 25 Oct 2024 | AR$69.0t | AR$45.8t | AR$3.0t | 21.7x | 22.8x | 1.5x |
| Sun, 22 Sep 2024 | AR$72.2t | AR$45.0t | AR$3.0t | 20.4x | 23.9x | 1.6x |
| Tue, 20 Aug 2024 | AR$67.1t | AR$41.7t | AR$2.8t | 19.8x | 24.2x | 1.6x |
| Thu, 18 Jul 2024 | AR$63.6t | AR$36.5t | AR$2.4t | 18.4x | 26.8x | 1.7x |
| Sat, 15 Jun 2024 | AR$66.9t | AR$36.3t | AR$2.2t | 18.5x | 30.4x | 1.8x |
| Mon, 13 May 2024 | AR$58.1t | AR$39.2t | AR$841.1b | 16.7x | 69x | 1.5x |
| Wed, 10 Apr 2024 | AR$52.1t | AR$37.4t | AR$659.4b | 23.7x | 79.1x | 1.4x |
| Fri, 08 Mar 2024 | AR$43.1t | AR$29.9t | AR$1.2t | 28.2x | 36x | 1.4x |
| Sun, 04 Feb 2024 | AR$58.6t | AR$13.9t | AR$1.7t | 43.6x | 34.3x | 4.2x |
| Tue, 02 Jan 2024 | AR$41.4t | AR$13.9t | AR$1.7t | 31.5x | 24.2x | 3x |
| Thu, 30 Nov 2023 | AR$34.4t | AR$14.9t | AR$1.7t | 24.6x | 19.8x | 2.3x |
| Sat, 28 Oct 2023 | AR$28.9t | AR$12.5t | AR$854.9b | 22.3x | 33.8x | 2.3x |
| Mon, 25 Sep 2023 | AR$24.2t | AR$12.2t | AR$839.2b | 21.4x | 28.8x | 2x |
| Wed, 23 Aug 2023 | AR$25.4t | AR$11.1t | AR$630.0b | 26.2x | 40.4x | 2.3x |
Price to Earnings Ratio
40.4x
Current Market PE
- Investors are pessimistic on the Argentinean market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 15.4x which is lower than its 3-year average PE of 28.4x.
Past Earnings Growth
- The earnings for Argentinean listed companies have grown 129% per year over the last three years.
- Revenues for these companies have grown 110% 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 | -2.77% | |
| Tech | 1.93% | |
| Consumer Discretionary | 1.80% | |
| Healthcare | 1.30% | |
| Energy | -0.12% | |
| Real Estate | -0.68% | |
| Consumer Staples | -1.04% | |
| Materials | -1.12% | |
| Industrials | -1.90% | |
| Utilities | -3.21% | |
| Telecom | -3.73% | |
| Financials | -6.21% | |
Sector PE
- Investors favour the Financials sector the most for future growth, which is trading above its 3-year average PE ratio of 17.2x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 38.2% which is higher than its past year's earnings decline of 24.6% per year.
- The Utilities sector is the least preferred by investors for future growth, which is trading below its 3-year average of 13.2x.
Forecasted Growth
- Analysts are most optimistic on the Financials sector, expecting annual earnings growth of 38% over the next 5 years.
- This is better than its past earnings decline of 25% per year.
- In contrast, the Consumer Staples sector is expected to see its earnings decline by 45% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| YPFD YPF Sociedad Anónima | AR$7.86k | 1.1% +AR$334.3b | 83.1% | PE26.4x | Energy | |
| METR MetroGAS | AR$2.30k | 17.5% +AR$195.2b | 17.5% | PE10.1x | Utilities | |
| TXAR Ternium Argentina | AR$728.00 | 1.7% +AR$56.5b | 19.5% | PE8.5x | Materials | |
| BOLT Boldt | AR$62.40 | 38.4% +AR$42.6b | 52.2% | PE161.2x | Consumer Discretionary | |
| MOLI Molinos Rio de la Plata | AR$2.42k | 9.0% +AR$40.3b | -17.6% | PE27.8x | Consumer Staples |