Grupo Financiero Banorte, S.A.B. de C.V.

BMV:GFNORTE O Stock Report

Market Cap: Mex$541.7b

Grupo Financiero Banorte. de Valuation

Is GFNORTE O undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of GFNORTE O when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Below Future Cash Flow Value: GFNORTE O (MX$195.11) is trading below our estimate of future cash flow value (MX$220.63)

Significantly Below Future Cash Flow Value: GFNORTE O is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GFNORTE O?

Key metric: As GFNORTE O is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GFNORTE O. This is calculated by dividing GFNORTE O's market cap by their current earnings.
What is GFNORTE O's PE Ratio?
PE Ratio8.9x
EarningsMex$60.98b
Market CapMex$541.74b

Price to Earnings Ratio vs Peers

How does GFNORTE O's PE Ratio compare to its peers?

The above table shows the PE ratio for GFNORTE O vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.2x
GFINBUR O Grupo Financiero Inbursa. de
8.7x9.43%Mex$268.6b
BBAJIO O Banco del Bajío Institución de Banca Múltiple
7.5x5.44%Mex$68.0b
SBK Standard Bank Group
10.6x9.81%R523.1b
BMPS Banca Monte dei Paschi di Siena
10.2x6.72%€27.8b
GFNORTE O Grupo Financiero Banorte. de
8.9x5.87%Mex$541.7b

Price-To-Earnings vs Peers: GFNORTE O is good value based on its Price-To-Earnings Ratio (8.9x) compared to the peer average (9.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does GFNORTE O's PE Ratio compare vs other companies in the South American Banks Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
GFNORTE O 8.9xIndustry Avg. 9.6xNo. of Companies10PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GFNORTE O is good value based on its Price-To-Earnings Ratio (8.9x) compared to the South American Banks industry average (9.6x).

Price to Earnings Ratio vs Fair Ratio

What is GFNORTE O's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GFNORTE O PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.9x
Fair PE Ratio9.4x

Price-To-Earnings vs Fair Ratio: GFNORTE O is good value based on its Price-To-Earnings Ratio (8.9x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GFNORTE O forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentMex$195.11
Mex$221.07
+13.30%
7.97%Mex$248.00Mex$190.00n/a15
Apr ’27Mex$201.62
Mex$221.67
+9.94%
8.00%Mex$248.00Mex$190.00n/a15
Mar ’27Mex$196.39
Mex$220.67
+12.36%
8.50%Mex$248.00Mex$190.00n/a15
Feb ’27Mex$197.57
Mex$209.50
+6.04%
10.75%Mex$240.00Mex$163.00n/a16
Jan ’27Mex$166.94
Mex$199.50
+19.50%
9.84%Mex$235.00Mex$163.00n/a16
Dec ’26Mex$175.90
Mex$199.75
+13.56%
9.83%Mex$235.00Mex$163.00n/a16
Nov ’26Mex$174.85
Mex$198.31
+13.42%
9.94%Mex$235.00Mex$163.00n/a16
Oct ’26Mex$182.27
Mex$196.69
+7.91%
9.96%Mex$235.00Mex$163.00n/a16
Sep ’26Mex$168.74
Mex$191.14
+13.28%
7.67%Mex$216.00Mex$163.00n/a14
Aug ’26Mex$165.12
Mex$188.86
+14.38%
9.12%Mex$216.00Mex$155.00n/a14
Jul ’26Mex$172.38
Mex$184.13
+6.82%
9.46%Mex$230.00Mex$155.00n/a15
Jun ’26Mex$171.46
Mex$184.13
+7.39%
9.46%Mex$230.00Mex$155.00n/a15
May ’26Mex$168.52
Mex$181.67
+7.80%
9.75%Mex$230.00Mex$155.00n/a15
Apr ’26Mex$144.42
Mex$181.33
+25.56%
10.62%Mex$230.00Mex$155.00Mex$201.6215
Mar ’26Mex$144.84
Mex$181.47
+25.29%
10.53%Mex$230.00Mex$155.00Mex$196.3915
Feb ’26Mex$143.20
Mex$181.07
+26.44%
10.55%Mex$230.00Mex$155.00Mex$197.5715
Jan ’26Mex$133.97
Mex$182.00
+35.85%
10.45%Mex$230.00Mex$155.00Mex$166.9415
Dec ’25Mex$135.33
Mex$182.27
+34.68%
10.33%Mex$230.00Mex$155.00Mex$175.9015
Nov ’25Mex$141.78
Mex$181.67
+28.13%
9.74%Mex$230.00Mex$155.00Mex$174.8515
Oct ’25Mex$139.50
Mex$183.07
+31.23%
11.32%Mex$245.00Mex$155.00Mex$182.2715
Sep ’25Mex$136.21
Mex$186.67
+37.04%
11.21%Mex$245.00Mex$155.00Mex$168.7415
Aug ’25Mex$139.49
Mex$189.13
+35.59%
11.84%Mex$245.00Mex$155.00Mex$165.1215
Jul ’25Mex$146.51
Mex$193.13
+31.82%
12.13%Mex$250.00Mex$155.00Mex$172.3815
Jun ’25Mex$161.37
Mex$202.41
+25.43%
10.34%Mex$250.00Mex$163.00Mex$171.4615
May ’25Mex$169.55
Mex$202.41
+19.38%
10.34%Mex$250.00Mex$163.00Mex$168.5215
Apr ’25Mex$176.40
Mex$198.28
+12.40%
10.56%Mex$250.00Mex$163.00Mex$144.4215
Mex$221.07
Fair Value
11.7% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/20 18:23
End of Day Share Price 2026/04/17 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Grupo Financiero Banorte, S.A.B. de C.V. is covered by 24 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martín LaraActinver Case de Bolsa, S.A. de C.V.
Roberto de Aguiar AttuchBarclays
Brian MortonBarclays