Grupo Financiero Banorte. de Full Year 2024 Earnings: In Line With Expectations

Grupo Financiero Banorte. de (BMV:GFNORTEO) Full Year 2024 Results

Key Financial Results

• Revenue: Mex$128.2b (up 8.5% from FY 2023).
• Net income: Mex$56.2b (up 7.2% from FY 2023).
• Profit margin: 44% (in line with FY 2023).
• EPS: Mex$19.72 (up from Mex$18.31 in FY 2023).

GFNORTE O Banking Performance Indicators

• Non-performing loans: 0.93% (down from 1.04% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Grupo Financiero Banorte. de Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Banks industry in South America.

Performance of the market in Mexico.

The company's shares are up 2.2% from a week ago.

Valuation

It's possible that Grupo Financiero Banorte. de could be undervalued with our 6-factor valuation analysis indicating a potential opportunity. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

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