BMA

Banco Macro

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Banks - Regional

Exchange

NYSE

County of HQ

Argentina

Next Earnings Date

05/27/26

Business Summary

Banco Macro operates as a regional Argentine bank generating revenue primarily through net interest income on loans and consumer credit products, supplemented by fees from financial services. Its moat is rooted in domestic branch density, local deposit gathering, and entrenched customer relationships in underbanked regions. The bank monetizes spread between funding costs and lending yields, with profitability tied to credit discipline and capital allocation efficiency. Its competitive edge depends less on global scale and more on local market penetration, funding stability, and its ability to maintain high returns on invested capital within Argentina’s volatile economic framework.

VALUATION

P/E

30.9

Market Cap ($M USD)

$5,438

Forward P/E

0

PEG

0

PRICE TO SALES

2.5

PRICE TO BOOK

1.5

EV / EBITDA

-

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

$3.28

Payout Ratio

42.00%

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$2.59

Next Year EPS Growth Estimate

$13,717.49

Next Year Revenue Growth Estimate

18.50%

Return on Equity (ROE)

4.80%

Operating Margin

43.40%

Debt-to-Equity

0.3

Piotroski F-Score

3

Altman Z-Score

0.6

Return on Invested Capital (ROIC)

23.80%%

Current Ratio

-

Quick Ratio

Gainseekers Quantitative Analysis

Summary

This is a deeply conflicted balance sheet wrapped in a statistically confusing valuation. A trailing P/E of 30.9 is expensive for a regional bank, yet the Forward P/E of 0 combined with a 0 PEG suggests either distorted forward visibility or unreliable earnings normalization. The Altman Z-Score of 0.6 is flashing severe distress risk, which completely undermines any surface-level valuation comfort from a 1.5 Price/Book. The market is not obviously mispricing growth here—it is pricing in fragility, opacity, and potentially unstable earnings quality.

AI Exposure / Tech Reliance

As a regional bank, BMA’s AI exposure is indirect and efficiency-driven rather than product-driven. Competitive positioning will depend on digitization of lending, underwriting automation, and cost structure optimization in a low-margin environment defined by a 4.80% operating margin. Technology is a survival lever, not a growth engine, in this segment.

The Bull Case

A value-oriented or GARP investor could argue this is a capital efficiency story hiding under macro noise. A 23.80% ROIC paired with 18.50% Return on Equity is objectively strong for a bank trading at just 1.5x book and 2.5x sales, suggesting the franchise can compound capital at attractive rates. If EPS Next Year of $2.59 materializes meaningfully against a $5,438M market cap, earnings power could re-rate the equity quickly. The 43.40% Debt/Equity ratio is not excessive for a financial institution, and while the Piotroski F-Score of 3 is weak, it leaves room for operational improvement that could act as a catalyst if balance sheet stability improves.

The Bear Case

Now the structural problems: the Altman Z-Score of 0.6 is firmly in distress territory, and that alone can justify a discounted multiple. The 30.9 P/E against a PEG Forward of 0 and Forward P/E of 0 implies earnings volatility or unreliable forward estimates, not growth clarity. Operating Margin at 4.80% is thin, leaving little buffer if credit conditions deteriorate. Add a Piotroski F-Score of 3, a negligible 0.3 yield, and inconsistent dividend data, and you’re staring at a balance sheet and income statement that lack durability and transparency.

Market Sentiment & Smart Money

Short Interest %

0.20%

Analyst Consensus

1.69

Average Analyst Price Target

$112.00

Institutional Ownership %

11.70%

1-Year Beta

1.78

Insider Buying % (6 Mo)

0.00%%

Distance to 52-Week High

75.50%%

Distance to 52-Week Low

209.10%%