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Mexican (IPC) Banks Industry Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies5
  • 7D-1.5%
  • 3M4.3%
  • 1Y10.1%
  • YTD8.8%

Over the last 7 days, the Banks industry has dropped 1.5%, driven by pullbacks from every company within the industry. In the past year, the industry has gained 10%. Earnings are forecast to grow by 6.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026Mex$1.0tMex$232.6bMex$113.8b8.1x9.1x4.5x
Thu, 19 Mar 2026Mex$1.0tMex$232.6bMex$113.8b7.9x8.9x4.4x
Sat, 14 Feb 2026Mex$1.1tMex$395.7bMex$113.8b8.6x9.3x2.7x
Mon, 12 Jan 2026Mex$955.3bMex$229.7bMex$113.5b7.5x8.4x4.2x
Wed, 10 Dec 2025Mex$1.0tMex$344.2bMex$108.7b7.6x9.6x3x
Fri, 07 Nov 2025Mex$1.1tMex$344.2bMex$108.7b7.6x9.7x3.1x
Sun, 05 Oct 2025Mex$1.1tMex$343.2bMex$107.7b8.1x10.1x3.2x
Tue, 02 Sep 2025Mex$1.1tMex$343.2bMex$107.7b7.7x9.9x3.1x
Thu, 31 Jul 2025Mex$1.1tMex$343.6bMex$107.7b7.7x10x3.2x
Sat, 28 Jun 2025Mex$1.1tMex$339.0bMex$105.4b8.2x10.3x3.2x
Mon, 26 May 2025Mex$1.1tMex$339.0bMex$105.4b8.1x10.4x3.2x
Wed, 23 Apr 2025Mex$1.0tMex$328.0bMex$102.7b7.3x9.9x3.1x
Fri, 21 Mar 2025Mex$995.7bMex$328.0bMex$102.7b7.2x9.7x3x
Sun, 16 Feb 2025Mex$1.0tMex$320.2bMex$115.1b7.6x8.8x3.2x
Tue, 14 Jan 2025Mex$933.8bMex$320.1bMex$115.9b7.2x8.1x2.9x
Thu, 12 Dec 2024Mex$973.5bMex$320.1bMex$115.9b7.2x8.4x3x
Sat, 09 Nov 2024Mex$907.0bMex$223.7bMex$114.6b7x7.9x4.1x
Mon, 07 Oct 2024Mex$1.2tMex$310.0bMex$113.0b8.2x10.3x3.7x
Wed, 04 Sep 2024Mex$1.1tMex$310.0bMex$113.0b7.3x9.8x3.6x
Fri, 02 Aug 2024Mex$1.1tMex$310.0bMex$113.0b7.3x9.8x3.6x
Sun, 30 Jun 2024Mex$1.1tMex$299.7bMex$113.9b7.6x9.9x3.8x
Tue, 28 May 2024Mex$1.2tMex$299.7bMex$113.9b8.8x10.8x4.1x
Thu, 25 Apr 2024Mex$1.2tMex$298.3bMex$106.4b9.5x11.1x3.9x
Sat, 23 Mar 2024Mex$1.3tMex$302.6bMex$106.8b9.6x12.3x4.3x
Mon, 19 Feb 2024Mex$1.3tMex$294.7bMex$106.8b10.3x11.8x4.3x
Wed, 17 Jan 2024Mex$1.4tMex$380.2bMex$132.7b8.9x10.6x3.7x
Fri, 15 Dec 2023Mex$1.4tMex$380.2bMex$132.7b9x10.6x3.7x
Sun, 12 Nov 2023Mex$1.2tMex$371.6bMex$130.4b7.8x9.3x3.3x
Tue, 10 Oct 2023Mex$1.1tMex$362.8bMex$123.8b7.8x9.3x3.2x
Thu, 07 Sep 2023Mex$1.2tMex$362.8bMex$123.8b7.9x9.3x3.2x
Sat, 05 Aug 2023Mex$1.2tMex$362.8bMex$123.8b8.1x9.7x3.3x
Mon, 03 Jul 2023Mex$1.2tMex$352.1bMex$113.3b7.4x10.3x3.3x
Wed, 31 May 2023Mex$1.2tMex$352.1bMex$113.3b8.3x10.7x3.4x
Fri, 28 Apr 2023Mex$1.2tMex$256.3bMex$107.9b8.5x11.2x4.7x
Price to Earnings Ratio

11.2x


Total Market Cap: Mex$1.2tTotal Earnings: Mex$107.9bTotal Revenue: Mex$256.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Banks Industry Price to Earnings3Y Average 9.9x202420252026
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 9.9x.
  • The 3-year average PS ratio of 3.5x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 3.5% per year over the last three years.
  • Meanwhile revenues for these companies have declined 12% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

MX Market-0.72%
Financials-1.46%
Banks-1.51%
Regional Banks-0.62%
Diversified Banks-1.67%
Industry PE
  • Investors are most optimistic about the Regional Banks industry, which is trading close to its 3-year average PE ratio of 13.3x.
    • Analysts are expecting annual earnings growth of 6.0%, which is lower than the prior year's growth of 89.9% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 9.5x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 6.9% over the next 5 years.
  • This is better than its past earnings decline of 9.7% per year.
  • In contrast, the Regional Banks industry is expected to see its earnings grow by 6.0% 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
GFNORTE O Grupo Financiero Banorte. deMex$200.212.3%
+Mex$12.3b		27.3%PB2.2x
GFINBUR O Grupo Financiero Inbursa. deMex$45.021.5%
+Mex$3.9b		-8.5%PB1x
R A Regional. deMex$150.752.9%
+Mex$1.4b		12.7%PB1.4x
BBAJIO O Banco del Bajío Institución de Banca MúltipleMex$58.341.3%
+Mex$868.7m		27.6%PB1.4x

Latest News

R A
Mex$150.75
Regional. de
7D
2.9%
1Y
12.7%
GFNORTE O
Mex$200.21
Grupo Financiero Banorte. de
7D
2.3%
1Y
27.3%

GFNORTE O: Data Center Migration Will Support Stronger Forward Earnings Profile

Analysts now set their price target for Grupo Financiero Banorte at roughly MX$221.80 per share, a minor adjustment that reflects updated views on discount rates, revenue growth expectations, profit margins, and forward P/E assumptions. What's in the News Relocated its mainframe data center from Mexico City to Querétaro to reduce business risks linked to natural disasters and to reinforce its digital backbone (Key Developments) Upgraded core storage infrastructure with Hitachi Vantara Virtual Storage Platform systems to support higher performance in its mainframe environment (Key Developments) Implemented Hitachi Universal Replicator technology to enable data replication with zero reported data loss and minimal downtime during the migration (Key Developments) Valuation Changes Fair Value: updated from MX$221.67 to MX$221.80, representing a very small upward adjustment in the modeled share value.
GFINBUR O
Mex$45.02
Grupo Financiero Inbursa. de
7D
1.5%
1Y
-8.5%
BBAJIO O
Mex$58.34
Banco del Bajío Institución de Banca Múltiple
7D
1.3%
1Y
27.6%