Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Argentinian (MERVAL) Market Analysis & Valuation

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies69
  • 7D5.9%
  • 3M-3.4%
  • 1Y33.1%
  • YTD-3.0%

The market is up 5.9% over the last week, with the Financials sector leading the way, up 11%. In the last year, the market has climbed 33%. As for the next few years, earnings are expected to grow by 40% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

Has the Argentinian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026AR$112.5tAR$91.0tAR$3.3t13.4x34.3x1.2x
Tue, 03 Mar 2026AR$98.9tAR$81.9tAR$2.7t13.7x36.1x1.2x
Thu, 29 Jan 2026AR$119.5tAR$72.6tAR$3.0t15.9x40x1.6x
Sat, 27 Dec 2025AR$115.0tAR$72.6tAR$2.8t16.7x41.3x1.6x
Mon, 24 Nov 2025AR$104.6tAR$75.6tAR$3.3t15.4x31.8x1.4x
Wed, 22 Oct 2025AR$75.8tAR$73.7tAR$5.3t12.8x14.2x1x
Fri, 19 Sep 2025AR$70.9tAR$73.6tAR$5.3t11x13.3x1x
Sun, 17 Aug 2025AR$86.8tAR$72.9tAR$5.1t14.9x17.2x1.2x
Tue, 15 Jul 2025AR$79.5tAR$69.2tAR$5.9t14.6x13.4x1.1x
Thu, 12 Jun 2025AR$87.5tAR$67.2tAR$5.9t14.5x14.7x1.3x
Sat, 10 May 2025AR$82.0tAR$68.7tAR$8.0t13.1x10.2x1.2x
Mon, 07 Apr 2025AR$84.1tAR$66.6tAR$7.8t14.5x10.8x1.3x
Wed, 05 Mar 2025AR$89.0tAR$56.4tAR$5.1t18.8x17.4x1.6x
Fri, 31 Jan 2025AR$101.4tAR$48.2tAR$4.2t24.6x23.9x2.1x
Sun, 29 Dec 2024AR$103.6tAR$47.7tAR$4.3t24.1x24.2x2.2x
Tue, 26 Nov 2024AR$89.6tAR$48.9tAR$4.2t18.9x21.6x1.8x
Thu, 24 Oct 2024AR$70.5tAR$45.8tAR$3.0t20.3x23.2x1.5x
Sat, 21 Sep 2024AR$73.0tAR$45.5tAR$3.1t19.6x23.6x1.6x
Mon, 19 Aug 2024AR$67.1tAR$41.9tAR$2.9t19.4x23.3x1.6x
Wed, 17 Jul 2024AR$62.7tAR$36.5tAR$2.4t18.4x26.5x1.7x
Fri, 14 Jun 2024AR$66.1tAR$34.6tAR$2.2t17.7x30.7x1.9x
Sun, 12 May 2024AR$58.1tAR$38.5tAR$832.1b16.7x69.8x1.5x
Tue, 09 Apr 2024AR$51.6tAR$37.0tAR$574.0b31.2x89.8x1.4x
Thu, 07 Mar 2024AR$44.0tAR$16.8tAR$2.3t30.8x19.3x2.6x
Sat, 03 Feb 2024AR$58.6tAR$13.9tAR$1.7t43.6x34.3x4.2x
Mon, 01 Jan 2024AR$41.4tAR$13.9tAR$1.7t31.5x24.2x3x
Wed, 29 Nov 2023AR$37.3tAR$14.9tAR$1.7t21.6x21.5x2.5x
Fri, 27 Oct 2023AR$29.7tAR$12.5tAR$854.9b23.9x34.7x2.4x
Sun, 24 Sep 2023AR$24.2tAR$12.2tAR$839.2b21.4x28.8x2x
Tue, 22 Aug 2023AR$25.1tAR$11.1tAR$618.0b25.7x40.7x2.3x
Thu, 20 Jul 2023AR$19.4tAR$10.5tAR$550.6b21.3x35.2x1.9x
Sat, 17 Jun 2023AR$17.5tAR$10.4tAR$526.1b19.5x33.3x1.7x
Mon, 15 May 2023AR$13.9tAR$10.1tAR$458.2b17.1x30.3x1.4x
Wed, 12 Apr 2023AR$11.5tAR$9.7tAR$423.9b14.6x27.1x1.2x
Price to Earnings Ratio

27.1x


Total Market Cap: AR$11.5tTotal Earnings: AR$423.9bTotal Revenue: AR$9.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Argentinian Market Price to Earnings3Y Average 29.1x202420252026
Current Market PE
  • Investors are optimistic on the Argentinean market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 34.3x which is higher than its 3-year average PE of 29.1x.
Past Earnings Growth
  • The earnings for Argentinean listed companies have grown 98% per year over the last three years.
  • Revenues for these companies have grown 111% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Argentinian Market?

AR Market5.85%
Materials12.70%
Financials11.48%
Industrials8.42%
Utilities7.93%
Real Estate6.99%
Telecom6.27%
Consumer Staples5.64%
Healthcare4.26%
Consumer Discretionary2.63%
Tech2.53%
Energy-0.75%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 17.6x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 72% over the next 5 years.
  • In contrast, the Consumer Staples sector is expected to see its earnings decline by 23% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
GGAL Grupo Financiero GaliciaAR$6.89k9.5%
+AR$963.8b		7.0%PB1.4xFinancials
BMA Banco MacroAR$11.59k12.9%
+AR$844.0b		28.9%PB1.4xFinancials
BBAR Banco BBVA ArgentinaAR$8.06k16.0%
+AR$680.1b		13.8%PB1.4xFinancials
ALUA Aluar Aluminio ArgentinoI.CAR$992.5022.7%
+AR$513.8b		25.2%PE2871.1xMaterials
TECO2 Telecom ArgentinaAR$3.51k7.3%
+AR$511.5b		35.4%PS0.9xTelecom
See more

Market Insights

Header cover image
What’s happening with Renewables & EVs?
Richard Bowman avatar
Richard Bowman
Part 1 of 3 in our “What’s happening with…” series, where we look back on the investment themes that were all the rage just a few years ago and see how they're doing now.
Continue reading
How to spot the winners in 2026's IPOs

Latest News

BMA
AR$11,590.00
Banco Macro
7D
12.9%
1Y
28.9%

BMA: Fintech Partnership And Large Dividends Will Support Future Upside

Analysts have trimmed their ARS price target for Banco Macro to ARS 24,522.06, reflecting updated assumptions for a lower revenue growth rate, a slightly higher profit margin, and a modestly reduced future P/E multiple. What's in the News Banco Macro plans to pay shareholders instalment No. 10 of a cash dividend totaling ARS 41,777,807,598.97, equal to ARS 65.3400708982 per share, with availability from March 30, 2026 and a record date of March 27, 2026 (company announcement).
BBAR
AR$8,060.00
Banco BBVA Argentina
7D
16.0%
1Y
13.8%
YPFD
AR$65,450.00
YPF Sociedad Anónima
7D
-1.6%
1Y
63.0%
PAMP
AR$5,170.00
Pampa Energía
7D
4.3%
1Y
41.3%

PAMP: Rincon De Aranda Exposure Will Drive Future Upside Potential

Analysts have raised their ARS price target on Pampa Energía, citing confidence in the quality of its assets, its investment discipline, and potential upside tied to higher crude oil assumptions and exposure to the Rincon de Aranda field, along with possible support from any improvement in Argentina's macroeconomic environment. Analyst Commentary Recent Street research reflects a more constructive stance on Pampa Energía, with bullish analysts signaling greater confidence in the company’s ability to execute on its asset base and investment plans.
POLL
AR$292.00
Polledo Sociedad Anonima Industrial Constructora y Financiera
7D
-4.3%
1Y
-8.8%
GGAL
AR$6,890.00
Grupo Financiero Galicia
7D
9.5%
1Y
7.0%

GGAL: Recalibrated Expectations And Upcoming Cash Dividends Will Support Bullish Case

Analysts trimmed their 12 month price target for Grupo Financiero Galicia to ARS72 from ARS75, citing updated assumptions for revenue growth, profit margin and forward P/E that modestly recalibrate expected returns while maintaining a positive fundamental view. Analyst Commentary Even with the trimmed 12 month price target to ARS72, recent Street commentary still leans supportive of Grupo Financiero Galicia, pointing to an investment case that remains intact in the eyes of several bullish analysts.
CEPU
AR$2,475.00
Central Puerto
7D
12.2%
1Y
84.7%

CEPU: Lower Discount Rate And Richer P/E Multiple Will Support Upside

Analysts have maintained their ARS 2,900 price target for Central Puerto, citing updated assumptions that now incorporate a lower discount rate, more moderate revenue growth and profit margins, as well as a higher future P/E multiple. Valuation Changes Fair Value: The ARS 2,900 price estimate has been kept unchanged at ARS 2,900.
EDN
AR$2,303.00
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
7D
12.9%
1Y
29.4%
TECO2
AR$3,507.50
Telecom Argentina
7D
7.3%
1Y
35.4%
ALUA
AR$992.50
Aluar Aluminio ArgentinoI.C
7D
22.7%
1Y
25.2%
CADO
AR$565.00
Carlos Casado
7D
-2.2%
1Y
16.3%