BSBR vs BMA

For growth investors, Banco Santander (Brasil) S.

A. (BSBR) is the stronger pick with 17. 5% revenue growth year-over-year, versus -33. 3% for Banco Macro S. A. (BMA). Banco Santander (Brasil) S. A. (BSBR) offers the better valuation at 17. 6x trailing P/E (6. 5x forward), making it the more compelling value choice. Analysts rate Banco Santander (Brasil) S. A. (BSBR) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Banco Santander (Brasil) S.

A. (BSBR) is the cheapest at 17. 6x versus Banco Macro S. A. at 20. 4x. On forward P/E, Banco Macro S. A. is actually cheaper at 0. 0x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Banco Macro S.

A. (BMA) delivered a total return of +520. 7%, compared to +9. 1% for Banco Santander (Brasil) S. A. (BSBR). Over 10 years, the gap is even starker: BSBR returned +103. 4% versus BMA's +48. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Banco Santander (Brasil) S.

A. (BSBR) is the lower-risk stock at 1. 11β versus Banco Macro S. A. 's 1. 76β — meaning BMA is approximately 57% more volatile than BSBR relative to the S&P 500. On balance sheet safety, Banco Macro S. A. (BMA) carries a lower debt/equity ratio of 11% versus 103% for Banco Santander (Brasil) S. A. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Banco Santander (Brasil) S.

A. (BSBR) is pulling ahead at 17. 5% versus -33. 3% for Banco Macro S. A. (BMA). On earnings-per-share growth, the picture is similar: Banco Santander (Brasil) S. A. grew EPS 87. 4% year-over-year, compared to -44. 6% for Banco Macro S. A.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Banco Santander (Brasil) S.

A. (BSBR) is the more profitable company, earning 8. 4% net margin versus 5. 0% for Banco Macro S. A. — meaning it keeps 8. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BSBR leads at 11. 0% versus 5. 6% for BMA. At the gross margin level — before operating expenses — BMA leads at 68. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Banco Macro S.

A. (BMA) trades at 0. 0x forward P/E versus 6. 5x for Banco Santander (Brasil) S. A. — 6. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BMA: 73. 6% to $130. 00.

All stocks in this comparison pay dividends.

Banco Macro S. A. (BMA) offers the highest yield at 7. 0%, versus 6. 0% for Banco Santander (Brasil) S. A. (BSBR).

For long-horizon retirement investors, Banco Santander (Brasil) S.

A. (BSBR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 11), 6. 0% yield, +103. 4% 10Y return). Banco Macro S. A. (BMA) carries a higher beta of 1. 76 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BSBR: +103. 4%, BMA: +48. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: BSBR is a mid-cap high-growth stock; BMA is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.