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Mexican (IPC) Banks Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies5
  • 7D-0.5%
  • 3M-3.2%
  • 1Y-5.3%
  • YTD2.7%

The Banks industry has stayed flat over the last week. Unfortunately though, the industry is down 5.3% over the past 12 months. Looking forward, earnings are forecast to grow by 7.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026Mex$982.1bMex$233.3bMex$113.1b7.9x8.7x4.2x
Sun, 03 May 2026Mex$1.0tMex$233.7bMex$113.5b8x8.9x4.3x
Tue, 31 Mar 2026Mex$1.0tMex$232.6bMex$113.8b7.9x9x4.4x
Thu, 26 Feb 2026Mex$1.1tMex$395.7bMex$113.8b8.3x9.3x2.7x
Sat, 24 Jan 2026Mex$1.0tMex$229.7bMex$113.5b8x9x4.4x
Mon, 22 Dec 2025Mex$1.0tMex$344.2bMex$108.7b7.6x9.4x3x
Wed, 19 Nov 2025Mex$1.0tMex$344.2bMex$108.7b7.4x9.6x3x
Fri, 17 Oct 2025Mex$1.1tMex$343.2bMex$107.7b7.6x10.1x3.2x
Sun, 14 Sep 2025Mex$1.1tMex$343.2bMex$107.7b8.2x10.4x3.3x
Tue, 12 Aug 2025Mex$1.1tMex$343.2bMex$107.7b7.7x9.9x3.1x
Thu, 10 Jul 2025Mex$1.1tMex$339.0bMex$105.4b7.8x10.3x3.2x
Sat, 07 Jun 2025Mex$1.1tMex$339.0bMex$105.4b8.1x10.3x3.2x
Mon, 05 May 2025Mex$1.1tMex$339.0bMex$105.4b7.6x10x3.1x
Wed, 02 Apr 2025Mex$969.0bMex$328.0bMex$102.7b6.8x9.4x3x
Fri, 28 Feb 2025Mex$1.0tMex$328.0bMex$102.7b7x9.8x3.1x
Sun, 26 Jan 2025Mex$976.2bMex$318.3bMex$114.6b7.5x8.5x3.1x
Tue, 24 Dec 2024Mex$944.4bMex$320.1bMex$115.9b7.1x8.1x3x
Thu, 21 Nov 2024Mex$880.3bMex$223.7bMex$114.6b6.6x7.7x3.9x
Sat, 19 Oct 2024Mex$1.1tMex$310.0bMex$113.0b7.7x9.9x3.6x
Mon, 16 Sep 2024Mex$1.1tMex$310.0bMex$113.0b7.5x9.7x3.5x
Wed, 14 Aug 2024Mex$1.1tMex$310.0bMex$113.0b7.4x9.6x3.5x
Fri, 12 Jul 2024Mex$1.2tMex$299.7bMex$113.9b8x10.3x3.9x
Sun, 09 Jun 2024Mex$1.1tMex$299.7bMex$113.9b7.4x9.9x3.8x
Tue, 07 May 2024Mex$1.2tMex$300.0bMex$108.4b9.3x10.8x3.9x
Thu, 04 Apr 2024Mex$1.2tMex$296.4bMex$106.1b9.7x11.4x4.1x
Sat, 02 Mar 2024Mex$1.3tMex$302.6bMex$106.8b9.7x12.5x4.4x
Mon, 29 Jan 2024Mex$1.5tMex$384.4bMex$134.3b9.4x10.8x3.8x
Wed, 27 Dec 2023Mex$1.4tMex$380.2bMex$132.7b9.1x10.7x3.7x
Fri, 24 Nov 2023Mex$1.3tMex$374.1bMex$132.1b8.1x9.5x3.4x
Sun, 22 Oct 2023Mex$1.1tMex$362.8bMex$123.8b7.8x9.3x3.2x
Tue, 19 Sep 2023Mex$1.2tMex$362.8bMex$123.8b7.9x9.4x3.2x
Thu, 17 Aug 2023Mex$1.2tMex$362.8bMex$123.8b8x9.5x3.2x
Sat, 15 Jul 2023Mex$1.2tMex$352.1bMex$113.3b7.9x10.7x3.4x
Mon, 12 Jun 2023Mex$1.2tMex$352.1bMex$113.3b7.9x10.6x3.4x
Price to Earnings Ratio

10.6x


Total Market Cap: Mex$1.2tTotal Earnings: Mex$113.3bTotal Revenue: Mex$352.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Banks Industry Price to Earnings3Y Average 9.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Mexican Banks 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 8.7x which is lower than its 3-year average PE of 9.8x.
  • The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 4.2x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 13% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

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

MX Market-1.60%
Financials-0.47%
Banks-0.45%
Regional Banks-0.12%
Diversified Banks-0.52%
Industry PE
  • Investors are most optimistic about the Regional Banks industry, which is trading close to its 3-year average PE ratio of 13.5x.
    • Analysts are expecting annual earnings growth of 7.7%, which is lower than the prior year's growth of 88.8% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 9.4x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 7.7% over the next 5 years.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 7.0% 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
BBAJIO O Banco del Bajío Institución de Banca MúltipleMex$56.270.3%
+Mex$202.3m		20.0%PB1.3x

Latest News

BBAJIO O
Mex$56.27
Banco del Bajío Institución de Banca Múltiple
7D
0.3%
1Y
20.0%
Narrative Update • May 28

BBAJIO O: Slight Model Adjustments Will Support A Balanced Future Outlook

Analysts have trimmed their MX$ fair value estimate for Banco del Bajío Institución de Banca Múltiple slightly to MX$61.58 from MX$61.87, reflecting marginal adjustments to the discount rate, revenue growth expectations, and future P/E assumptions, alongside a largely steady profit margin outlook. Valuation Changes Fair Value: MX$ fair value estimate adjusted slightly from MX$61.87 to MX$61.58, reflecting minor tweaks to the model inputs.
R A
Mex$131.12
Regional. de
7D
-2.7%
1Y
-16.5%
Narrative Update • May 21

R A: Future P E Reset Will Support Bullish Re Rating

Analysts have revised their view on Regional, lowering the price target from MX$203.00 to MX$191.00 as they update their assumptions for growth, margins and the stock's future P/E multiple. Valuation Changes Fair Value: MX$203.00 to MX$191.00, reflecting a lower estimated value per share in the updated model.
GFNORTE O
Mex$177.62
Grupo Financiero Banorte. de
7D
-1.8%
1Y
2.4%
Narrative Update • May 20

GFNORTE O: Data Center Relocation Will Support Higher Future Earnings Multiple

Analysts have kept their MX$220.87 price target for Grupo Financiero Banorte, de largely unchanged. This is supported by relatively stable fair value assumptions, along with slight adjustments to the discount rate, revenue growth, profit margin, and expected future P/E levels.
GFINBUR O
Mex$42.22
Grupo Financiero Inbursa. de
7D
-2.0%
1Y
-14.4%