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Mexican (IPC) Banks Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies6
  • 7D2.9%
  • 3M-5.8%
  • 1Y9.3%
  • YTD12.5%

Over the last 7 days, the Banks industry has dropped 1.0%. This takes the industry's 12 month performance to a gain of 7.7%. Earnings are forecast to grow by 6.3% annually.

Industry Valuation and Performance

Has the Mexican Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025Mex$1.0tMex$344.2bMex$108.7b7.8x9.6x3x
Fri, 21 Nov 2025Mex$1.0tMex$344.2bMex$108.7b7.4x9.5x3x
Sun, 19 Oct 2025Mex$1.1tMex$343.2bMex$107.7b7.4x9.8x3.1x
Tue, 16 Sep 2025Mex$1.1tMex$343.2bMex$107.7b8.3x10.6x3.3x
Thu, 14 Aug 2025Mex$1.1tMex$343.2bMex$107.7b7.7x9.9x3.1x
Sat, 12 Jul 2025Mex$1.1tMex$339.0bMex$105.4b7.7x10x3.1x
Mon, 09 Jun 2025Mex$1.1tMex$339.0bMex$105.4b8.1x10.3x3.2x
Wed, 07 May 2025Mex$1.1tMex$339.0bMex$105.4b7.8x10.3x3.2x
Fri, 04 Apr 2025Mex$1.0tMex$328.0bMex$102.7b7.4x10x3.1x
Sun, 02 Mar 2025Mex$985.4bMex$328.0bMex$102.7b7x9.6x3x
Tue, 28 Jan 2025Mex$976.2bMex$318.3bMex$114.6b7.6x8.5x3.1x
Thu, 26 Dec 2024Mex$930.7bMex$320.1bMex$115.9b7x8x2.9x
Sat, 23 Nov 2024Mex$884.5bMex$223.7bMex$114.6b6.5x7.7x4x
Mon, 21 Oct 2024Mex$1.1tMex$310.0bMex$113.0b7.7x9.9x3.6x
Wed, 18 Sep 2024Mex$1.1tMex$310.0bMex$113.0b7.4x9.7x3.5x
Fri, 16 Aug 2024Mex$1.1tMex$310.0bMex$113.0b7.5x9.8x3.6x
Sun, 14 Jul 2024Mex$1.2tMex$299.7bMex$113.9b8x10.3x3.9x
Tue, 11 Jun 2024Mex$1.1tMex$299.7bMex$113.9b7.4x9.8x3.7x
Thu, 09 May 2024Mex$1.2tMex$300.0bMex$108.4b9.4x10.8x3.9x
Sat, 06 Apr 2024Mex$1.2tMex$296.4bMex$106.1b9.9x11.5x4.1x
Mon, 04 Mar 2024Mex$1.3tMex$302.6bMex$106.8b9.7x12.6x4.4x
Wed, 31 Jan 2024Mex$1.5tMex$384.4bMex$134.3b9.7x10.9x3.8x
Fri, 29 Dec 2023Mex$1.4tMex$380.2bMex$132.7b9.1x10.7x3.7x
Sun, 26 Nov 2023Mex$1.4tMex$380.2bMex$132.7b8.3x10.4x3.6x
Tue, 24 Oct 2023Mex$1.1tMex$362.8bMex$123.8b7.8x9.3x3.2x
Thu, 21 Sep 2023Mex$1.2tMex$362.8bMex$123.8b8x9.4x3.2x
Sat, 19 Aug 2023Mex$1.2tMex$362.8bMex$123.8b7.9x9.4x3.2x
Mon, 17 Jul 2023Mex$1.2tMex$352.1bMex$113.3b7.9x10.6x3.4x
Wed, 14 Jun 2023Mex$1.2tMex$352.1bMex$113.3b7.9x10.5x3.4x
Fri, 12 May 2023Mex$1.2tMex$352.1bMex$113.3b8.4x10.9x3.5x
Sun, 09 Apr 2023Mex$1.2tMex$338.5bMex$100.5b9.1x11.9x3.5x
Tue, 07 Mar 2023Mex$1.2tMex$419.0bMex$100.5b10.3x12.2x2.9x
Thu, 02 Feb 2023Mex$1.2tMex$340.9bMex$102.3b10.3x12.1x3.6x
Sat, 31 Dec 2022Mex$1.1tMex$330.5bMex$96.3b9.1x11.8x3.4x
Price to Earnings Ratio

11.8x


Total Market Cap: Mex$1.1tTotal Earnings: Mex$96.3bTotal Revenue: Mex$330.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Banks Industry Price to Earnings3Y Average 10.2x202320242025
Current Industry PE
  • Investors are relatively neutral on the Mexican Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.2x.
  • The 3-year average PS ratio of 3.4x is higher than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 4.1% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Mexican Financials industry?

MX Market3.80%
Financials3.34%
Banks2.92%
Diversified Banks3.09%
Regional Banks1.96%
Industry PE
  • Investors are most optimistic about the Regional Banks industry, which is trading close to its 3-year average PE ratio of 13.0x.
    • Analysts are expecting annual earnings growth of 5.5%, which is lower than the prior year's growth of 89.5% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 9.9x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 6.4% over the next 5 years.
  • This is better than its past earnings decline of 7.9% per year.
  • In contrast, the Regional Banks industry is expected to see its earnings grow by 5.5% 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
GFNORTE O Grupo Financiero Banorte. deMex$170.403.6%
+Mex$16.6b		25.6%PB1.8x
GFINBUR O Grupo Financiero Inbursa. deMex$44.413.5%
+Mex$9.1b		2.8%PB1x
R A Regional. deMex$147.356.9%
+Mex$3.1b		25.0%PB1.3x
BBAJIO O Banco del Bajío Institución de Banca MúltipleMex$47.341.2%
+Mex$654.5m		12.3%PB1.2x

Latest News

BBAJIO O
Mex$47.34
Banco del Bajío Institución de Banca Múltiple
7D
1.2%
1Y
12.3%
GFNORTE O
Mex$170.40
Grupo Financiero Banorte. de
7D
3.6%
1Y
25.6%

GFNORTE O Net Profitability And Remittance Expansion Will Support Future Upside

Analysts have nudged their price target on Grupo Financiero Banorte slightly lower, from MXN 199.75 to MXN 199.50, citing a more neutral stance following recent reassessments of the bank's risk and return profile. Analyst Commentary Recent research updates reflect a more balanced view on Grupo Financiero Banorte, with analysts recalibrating expectations for both upside potential and key execution risks.
R A
Mex$147.35
Regional. de
7D
6.9%
1Y
25.0%
GFINBUR O
Mex$44.41
Grupo Financiero Inbursa. de
7D
3.5%
1Y
2.8%