Banco Macro Past Earnings Performance

Past criteria checks 6/6

Banco Macro has been growing earnings at an average annual rate of 55.3%, while the Banks industry saw earnings growing at 55.3% annually. Revenues have been growing at an average rate of 58.5% per year. Banco Macro's return on equity is 28.7%, and it has net margins of 20.6%.

Key information

55.3%

Earnings growth rate

55.4%

EPS growth rate

Banks Industry Growth	38.3%
Revenue growth rate	58.5%
Return on equity	28.7%
Net Margin	20.6%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Banco Macro makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

BASE:BMA Revenue, expenses and earnings (ARS Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	2,844,147	587,304	452,451
30 Sep 23	741,475	70,341	117,121
30 Jun 23	628,525	72,818	111,088
31 Mar 23	540,051	37,629	110,061
31 Dec 22	1,549,284	134,025	371,790
30 Sep 22	759,713	62,291	181,149
30 Jun 22	548,932	54,629	140,472
31 Mar 22	467,256	55,797	121,422
31 Dec 21	372,502	44,554	105,164
30 Sep 21	301,499	35,305	86,517
30 Jun 21	267,868	29,215	78,857
31 Mar 21	221,135	30,105	70,445
31 Dec 20	398,667	76,900	108,799
30 Sep 20	179,038	38,677	57,095
30 Jun 20	153,945	40,419	52,818
31 Mar 20	127,103	32,993	49,327
31 Dec 19	103,589	26,476	45,986
30 Sep 19	77,927	22,069	35,815
30 Jun 19	69,972	16,785	29,525
31 Mar 19	60,319	16,326	21,316
31 Dec 18	50,012	15,729	16,061
30 Sep 18	65,156	9,462	20,519
30 Jun 18	61,992	8,368	19,224
31 Mar 18	38,001	11,602	12,263
31 Dec 17	55,937	5,939	17,663
30 Sep 17	30,050	8,658	11,079
30 Jun 17	26,055	7,557	9,643
31 Mar 17	23,179	7,138	8,780
31 Dec 16	20,168	6,541	7,845
30 Sep 16	19,446	6,812	6,636
30 Jun 16	18,093	6,284	6,622
31 Mar 16	15,959	5,303	6,061
31 Dec 15	15,174	5,010	5,659
30 Sep 15	13,062	3,618	5,412
30 Jun 15	12,182	3,499	4,997
31 Mar 15	11,565	3,407	4,538
31 Dec 14	11,113	3,480	4,354
30 Sep 14	10,851	3,858	3,956
30 Jun 14	9,985	3,444	3,676
31 Mar 14	9,301	3,172	3,455
31 Dec 13	7,827	2,444	3,190
30 Sep 13	6,900	1,916	3,022
30 Jun 13	6,327	1,756	2,838

Quality Earnings: BMA has high quality earnings.

Growing Profit Margin: BMA's current net profit margins (20.6%) are higher than last year (8.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BMA's earnings have grown significantly by 55.3% per year over the past 5 years.

Accelerating Growth: BMA's earnings growth over the past year (338.2%) exceeds its 5-year average (55.3% per year).

Earnings vs Industry: BMA earnings growth over the past year (338.2%) exceeded the Banks industry 154.9%.

Return on Equity

High ROE: BMA's Return on Equity (28.7%) is considered high.

Return on Assets

Return on Capital Employed

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Banco Macro Past Earnings Performance

Past criteria checks 6/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: AR$919 (vs AR$63.76 in FY 2022)

Banco Macro S.A. to Report Q4, 2023 Results on Feb 28, 2024

Third quarter 2023 earnings released: EPS: AR$11.71 (vs AR$13.86 in 3Q 2022)

Banco Macro S.A. to Report Q3, 2023 Results on Nov 22, 2023

First quarter 2023 earnings released: EPS: AR$15.27 (vs AR$19.23 in 1Q 2022)

Banco Macro S.A. to Report Q2, 2023 Results on Aug 23, 2023

Recent updates

Now 22% overvalued after recent price rise

Now 21% overvalued after recent price rise

Investor sentiment improves as stock rises 18%

Price target increased by 28% to AR$3,583

Banco Macro S.A., Annual General Meeting, Apr 12, 2024

Banco Macro S.A., Annual General Meeting, Apr 12, 2024

Full year 2023 earnings released: EPS: AR$919 (vs AR$63.76 in FY 2022)

Banco Macro S.A. Has Been Given Notice of a Class Action Filed Against It

Consensus EPS estimates fall by 17%

Banco Macro S.A. to Report Q4, 2023 Results on Feb 28, 2024

Investor sentiment deteriorates as stock falls 19%

Investor sentiment improves as stock rises 28%

Price target increased by 37% to AR$2,805

Investor sentiment improves as stock rises 18%

Banco Macro S.A. Announces Resignation of Directors

Banco Macro S.A. Announces Update on Class Action

Third quarter 2023 earnings released: EPS: AR$11.71 (vs AR$13.86 in 3Q 2022)

Investor sentiment improves as stock rises 22%

New minor risk - Share price stability

Banco Macro S.A. to Report Q3, 2023 Results on Nov 22, 2023

Investor sentiment improves as stock rises 18%

Investor sentiment improves as stock rises 18%

Investor sentiment improves as stock rises 20%

Banco Macro S.A. entered into a stock purchase agreement to acquire 100% stake in Banco Itaú Argentina S.A. from Itaú Unibanco S.A. and Banco Itaú BBA S.A. for approximately $50 million.

Consensus revenue estimates decrease by 27%, EPS upgraded

Price target increased by 10% to AR$1,081

First quarter 2023 earnings released: EPS: AR$15.27 (vs AR$19.23 in 1Q 2022)

Banco Macro S.A. to Report Q2, 2023 Results on Aug 23, 2023

Consensus EPS estimates increase by 44%

Investor sentiment improves as stock rises 22%

Price target decreased by 35% to AR$317

Itau to Sell Argentine Business to Local Private Bank

Investor sentiment improves as stock rises 19%

Price target increased by 13% to AR$488

Banco Macro S.A. to Report Q1, 2023 Results on May 17, 2023

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 18%

Full year 2022 earnings released: EPS: AR$67.35 (vs AR$42.42 in FY 2021)

Consensus EPS estimates increase by 27%

Banco Macro S.A. to Report Q4, 2022 Results on Feb 23, 2023

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Consensus forecasts updated

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Price target increased to AR$516

Consensus forecasts updated

Third quarter 2022 earnings released: EPS: AR$13.87 (vs AR$11.50 in 3Q 2021)

Upcoming dividend of AR$2.57 per share

Banco Macro S.A. Announces Cash Dividend

Banco Macro S.A. to Report Q3, 2022 Results on Nov 23, 2022

Consensus forecasts updated

Upcoming dividend of AR$2.57 per share

Consensus forecasts updated

Upcoming dividend of AR$2.57 per share

Banco Macro S.A. Declares Cash Dividend

Consensus forecasts updated

Upcoming dividend of AR$2.57 per share

Banco Macro S.A. to Report Q2, 2022 Results on Aug 24, 2022

Investor sentiment improved over the past week

Upcoming dividend of AR$2.57 per share

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Investor sentiment improved over the past week

Upcoming dividend of AR$2.57 per share

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Banco Macro S.A. Announces Payment of Cash Dividend

Banco Macro S.A. to Report Q1, 2022 Results on May 23, 2022

Price target increased to AR$405

Consensus revenue estimates increase by 13%

Consensus forecasts updated

Revenue & Expenses Breakdown
Beta