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Argentinian (MERVAL) Market Analysis & Valuation

UpdatedApr 13, 2026
DataAggregated Company Financials
Companies68
  • 7D-0.9%
  • 3M-1.2%
  • 1Y19.7%
  • YTD-4.3%

In the last week, the market has been flat, with a notable exception in the Consumer Staples sector dropping 3.3%. More promisingly, the market is up 20% over the past year. Earnings are forecast to grow by 40% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Apr 2026AR$111.0tAR$91.0tAR$3.3t14.4x33.7x1.2x
Wed, 11 Mar 2026AR$99.3tAR$84.0tAR$2.7t13.2x36.6x1.2x
Fri, 06 Feb 2026AR$111.3tAR$72.6tAR$3.0t14.9x37.3x1.5x
Sun, 04 Jan 2026AR$115.1tAR$72.8tAR$2.8t16.7x41.2x1.6x
Tue, 02 Dec 2025AR$113.0tAR$74.3tAR$3.1t15.8x36.9x1.5x
Thu, 30 Oct 2025AR$101.1tAR$73.6tAR$5.3t16.9x19x1.4x
Sat, 27 Sep 2025AR$69.5tAR$73.3tAR$5.2t11.7x13.3x0.9x
Mon, 25 Aug 2025AR$83.4tAR$72.2tAR$5.1t13.5x16.5x1.2x
Wed, 23 Jul 2025AR$81.3tAR$69.3tAR$5.7t15.2x14.4x1.2x
Fri, 20 Jun 2025AR$81.5tAR$69.1tAR$6.0t13.7x13.6x1.2x
Sun, 18 May 2025AR$91.9tAR$71.3tAR$6.3t14.4x14.5x1.3x
Tue, 15 Apr 2025AR$88.9tAR$68.1tAR$8.0t14.9x11.1x1.3x
Thu, 13 Mar 2025AR$86.7tAR$68.7tAR$7.6t15.5x11.4x1.3x
Sat, 08 Feb 2025AR$99.7tAR$48.2tAR$4.2t22.4x23.5x2.1x
Mon, 06 Jan 2025AR$108.5tAR$47.6tAR$4.3t24.5x25.4x2.3x
Wed, 04 Dec 2024AR$93.5tAR$49.5tAR$4.3t21.9x21.7x1.9x
Fri, 01 Nov 2024AR$72.6tAR$45.8tAR$3.0t23.3x24x1.6x
Sun, 29 Sep 2024AR$68.5tAR$45.0tAR$3.0t20.1x22.6x1.5x
Tue, 27 Aug 2024AR$65.1tAR$43.2tAR$2.8t19x22.9x1.5x
Thu, 25 Jul 2024AR$67.2tAR$36.6tAR$2.4t19.6x28.3x1.8x
Sat, 22 Jun 2024AR$66.1tAR$36.3tAR$2.4t17.6x28.1x1.8x
Mon, 20 May 2024AR$61.6tAR$39.4tAR$1.8t16.9x34.8x1.6x
Wed, 17 Apr 2024AR$47.6tAR$37.4tAR$618.3b16.2x76.9x1.3x
Fri, 15 Mar 2024AR$44.8tAR$35.2tAR$795.7b25.8x56.2x1.3x
Sun, 11 Feb 2024AR$51.2tAR$14.0tAR$1.8t43.4x28.9x3.7x
Tue, 09 Jan 2024AR$46.6tAR$18.8tAR$2.5t31.4x18.4x2.5x
Thu, 07 Dec 2023AR$39.8tAR$14.9tAR$1.8t26.2x22.5x2.7x
Sat, 04 Nov 2023AR$27.9tAR$12.5tAR$854.9b23.4x32.6x2.2x
Mon, 02 Oct 2023AR$24.7tAR$12.3tAR$841.1b22.7x29.4x2x
Wed, 30 Aug 2023AR$29.0tAR$11.8tAR$723.3b26.8x40x2.5x
Fri, 28 Jul 2023AR$20.2tAR$10.5tAR$550.6b21.2x36.7x1.9x
Sun, 25 Jun 2023AR$18.1tAR$10.4tAR$530.0b21.7x34.1x1.7x
Tue, 23 May 2023AR$14.7tAR$10.3tAR$526.5b18x28x1.4x
Thu, 20 Apr 2023AR$12.1tAR$9.8tAR$430.4b14.9x28.1x1.2x
Price to Earnings Ratio

28.1x


Total Market Cap: AR$12.1tTotal Earnings: AR$430.4bTotal Revenue: AR$9.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 29.1x202420252026
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 33.7x which is higher than its 3-year average PE of 29.1x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 97% 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-0.88%
Financials2.86%
Materials1.05%
Consumer Discretionary0.033%
Healthcare-0.89%
Telecom-1.03%
Tech-1.10%
Industrials-1.32%
Real Estate-2.17%
Utilities-2.49%
Energy-3.19%
Consumer Staples-3.30%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 18.8x.
    • 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 72% over the next 5 years.
  • In contrast, the Consumer Staples sector is expected to see its earnings decline by 23% 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
GGAL Grupo Financiero GaliciaAR$7.08k3.2%
+AR$353.4b		-8.4%PB1.5xFinancials
BMA Banco MacroAR$11.80k3.2%
+AR$236.6b		2.8%PB1.4xFinancials
BYMA Bolsas y Mercados ArgentinosAR$338.002.1%
+AR$53.3b		52.8%PE14.9xFinancials
BBAR Banco BBVA ArgentinaAR$7.99k1.1%
+AR$52.1b		-7.2%PB1.4xFinancials
HARG Holcim (Argentina)AR$1.84k7.9%
+AR$49.4b		3.7%PS1.3xMaterials
See more

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Latest News

SUPV
AR$2,867.50
Grupo Supervielle
7D
2.2%
1Y
-25.9%
BMA
AR$11,800.00
Banco Macro
7D
3.2%
1Y
2.8%
YPFD
AR$63,275.00
YPF Sociedad Anónima
7D
-2.5%
1Y
49.2%

YPFD: Higher Oil Price Scenarios Will Support Future Share Upside

Analysts have raised their price target for YPF Sociedad Anónima to ARS 40 from ARS 36, citing upside risks to oil prices and updated estimates for regional oil peers as the main drivers of the revision. Analyst Commentary Recent Street research on YPF Sociedad Anónima points to a more constructive tone from several research desks, with a focus on higher oil price assumptions and updated peer benchmarks in Latin America.
GGAL
AR$7,075.00
Grupo Financiero Galicia
7D
3.2%
1Y
-8.4%

GGAL: Refreshed Assumptions And Scheduled Cash Dividends Will Support Bullish Outlook

Analysts have reduced their 12‑month price target for Grupo Financiero Galicia to ARS 72 from ARS 75, citing updated assumptions on discount rates, revenue growth, profit margins, and forward P/E levels. Analyst Commentary Recent Street research on Grupo Financiero Galicia shows that, while the 12 month price target has been trimmed slightly, some major firms remain constructive on the shares.
BBAR
AR$7,990.00
Banco BBVA Argentina
7D
1.1%
1Y
-7.2%
PAMP
AR$5,145.00
Pampa Energía
7D
-1.8%
1Y
33.5%

PAMP: Rincon De Aranda Exposure Will Drive Future Upside Potential

Analysts have raised their ARS price target on Pampa Energía, citing confidence in the quality of its assets, its investment discipline, and potential upside tied to higher crude oil assumptions and exposure to the Rincon de Aranda field, along with possible support from any improvement in Argentina's macroeconomic environment. Analyst Commentary Recent Street research reflects a more constructive stance on Pampa Energía, with bullish analysts signaling greater confidence in the company’s ability to execute on its asset base and investment plans.
TGSU2
AR$9,635.00
Transportadora de Gas del Sur
7D
-5.9%
1Y
35.5%
HARG
AR$1,840.00
Holcim (Argentina)
7D
7.9%
1Y
3.7%
TRAN
AR$3,905.00
Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener
7D
-8.3%
1Y
111.1%
EDN
AR$2,126.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
-8.6%
1Y
7.1%
VALO
AR$703.50
Banco de Valores
7D
4.6%
1Y
152.2%
A3
AR$3,090.00
A3 Mercados
7D
2.7%
1Y
34.3%
TECO2
AR$3,385.00
Telecom Argentina
7D
-1.2%
1Y
20.9%
BYMA
AR$338.00
Bolsas y Mercados Argentinos
7D
2.1%
1Y
52.8%
IRSA
AR$2,370.00
IRSA Inversiones y Representaciones Sociedad Anónima
7D
-5.0%
1Y
36.2%
ALUA
AR$997.00
Aluar Aluminio ArgentinoI.C
7D
-3.0%
1Y
17.0%