Banco Macro S.A. (BMA) 10-Year Financial Performance & Capital Metrics

BMA • • Banking & Credit

Financial ServicesRegional BanksInternational & Latin American BankingLatin American Retail Banking

AboutBanco Macro S.A. provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers. The company also provides personal loans, document discounts, residential mortgages, overdrafts, pledged loans, and credit card loans to retail customers. In addition, it offers corporate banking products and services, including deposits, lending, check cashing advances and factoring, guaranteed loans, credit lines for financing foreign trade, and cash management services; and trust, payroll, and financial agency services, as well as corporate credit cards and other specialty products; and working capital facilities, credit for investment projects, and leasing and foreign trade transactions. Further, the company provides transaction services, such as cash management, collection services, payments to suppliers, payroll services, foreign exchange transactions, and foreign trade services; information services comprising Datanet and Interpymes services to corporate customers; and Internet and mobile banking services. Additionally, it offers short-term and medium-to-long-term corporate lending products. As of December 31, 2021, it operated through a network of 466 branches, 1,779 ATMs, 955 self-service terminals, and various service points. The company was incorporated in 1966 and is headquartered in Buenos Aires, Argentina.Show more

Net Interest Income $1608.81B -10.6%
Total Revenue $6464.24B -33.3%
Net Income $325.5B -74.3%
Return on Equity 7.67% -81.7%
Net Interest Margin 11.1% -9.7%
Efficiency Ratio 62.71% +46.1%
ROA 2.24% -81.4%
Equity / Assets 27.95% -7.9%
Book Value per Share 63350.49 -8.8%
Tangible BV/Share 61044.06 -8.7%
Debt/Equity 0.11 -44.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 25.5%
✓Strong 5Y profit CAGR of 50.2%
✓Strong NIM of 11.1%
✓Momentum leader: RS Rating 83 (top 17%)
✓Well capitalized: 28.0% equity/assets
✓Diversified revenue: 45.1% from non-interest income

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y88.21%

5Y75.58%

3Y56.03%

TTM-

Profit (Net Income) CAGR

10Y57.44%

5Y50.2%

3Y32.88%

TTM-35.48%

EPS CAGR

10Y56.22%

5Y51.49%

3Y128.95%

TTM-13.67%

ROCE

10Y Avg26.53%

5Y Avg25.37%

3Y Avg23.01%

Latest5.46%

Peer Comparison

Latin American Retail Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FBPFirst BanCorp.	3.39B	21.44	11.85	6.16%	25.04%	16.62%	11.64%	0.34
OFGOFG Bancorp	1.84B	41.92	9.91	13%	24.09%	14.59%	11.44%	0.34
BSBRBanco Santander (Brasil) S.A.	46.17B	6.18	7.10	6.31%	10.36%	7.84%		1.13
BAPCredicorp Ltd.	25.3B	318.78	4.61	6.4%	20.38%	17.35%	53.01%	1.07
IFSIntercorp Financial Services Inc.	5.01B	45.00	3.95	0.75%	14.68%	16.41%		1.08
INTRInter & Co, Inc.	2.63B	8.15	3.94	27.12%	9.34%	12.37%	100%	1.31
BBDBanco Bradesco S.A.	18.54B	3.51	2.15	-2%	6.91%	12.1%		4.08
ITUBItaú Unibanco Holding S.A.	40.24B	7.44	1.97	6.27%	12.61%	19.74%		4.09

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	10.55B	14.86B	60.49B	101.01B	179.62B	284.48B	800.1B	2.08T	1.8T	1.61T
NII Growth %	0.47%	0.41%	3.07%	0.67%	0.78%	0.58%	1.81%	1.6%	-0.13%	-0.11%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	19.4B	28.16B	86.63B	164.21B	311.46B	461.85B	1.37T	4.17T	5.35T	3.55T
Interest Expense	8.84B	13.3B	26.14B	63.21B	131.84B	178.87B	574.16B	2.09T	3.55T	1.94T
Loan Loss Provision	-8.84B	-13.3B	-26.14B	-63.21B	8.93B	23.11B	15.75B	46.78B	100.1B	108.11B
Non-Interest Income+	-3.39B	-6.69B	346.01M	-34.53B	75.96B	126.08B	327.44B	1.2T	4.34T	2.91T
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	16.01B	21.47B	86.98B	129.68B	387.42B	587.93B	1.7T	5.37T	9.69T	6.46T
Revenue Growth %	0.38%	0.34%	3.05%	0.49%	1.99%	0.52%	1.89%	2.16%	0.8%	-0.33%
Non-Interest Expense	16.01B	21.47B	86.98B	129.68B	177.48B	270.69B	965.84B	2.83T	4.16T	4.05T
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	0	0	0	0	69.17B	115.26B	145.94B	401.07B	1.88T	360.01B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-	-	-	-	-	0.67%	0.27%	1.75%	3.69%	-0.81%
Pretax Income+	7.5B	10.02B	22.07B	18.34B	69.17B	115.26B	145.94B	401.07B	1.88T	360.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	2.49B	3.48B	12.94B	19.84B	26.59B	38.36B	7.19B	124.57B	614.79B	33.52B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	5.01B	6.54B	9.13B	-1.5B	42.57B	76.9B	138.74B	276.45B	1.27T	325.5B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.44%	0.31%	0.4%	-1.16%	29.38%	0.81%	0.8%	0.99%	3.58%	-0.74%
Net Income (Continuing)	5.01B	6.54B	9.13B	-1.5B	42.57B	76.9B	138.75B	276.5B	1.27T	326.49B
EPS (Diluted)+	85.70	110.40	134.80	-23.10	638.10	473.60	424.20	673.10	9185.40	5090.60
EPS Growth %	0.46%	0.29%	0.22%	-1.17%	28.62%	-0.26%	-0.1%	0.59%	12.65%	-0.45%
EPS (Basic)	85.70	110.40	134.80	-23.10	638.10	473.60	424.20	673.10	9185.40	5090.60
Diluted Shares Outstanding	58.45M	59.22M	67.73M	64.84M	63.9M	63.94M	63.94M	63.94M	63.94M	63.94M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	19.8B	66.31B	52.51B	115.01B	137.07B	196.18B	335.69B	778.8B	2.69T	2.78T
Short Term Investments	0	0	0	0	0	0	0	1000K	1000K	1000K
Total Investments+	15.4B	209.14B	261.44B	114.7B	397.46B	793.2B	1.3T	3.5T	8.6T	9.61T
Investments Growth %	0.49%	12.58%	0.25%	-0.56%	2.47%	1%	0.64%	1.69%	1.46%	0.12%
Long-Term Investments	15.4B	209.14B	261.44B	114.7B	397.46B	793.2B	1.3T	3.07T	7.97T	9.18T
Accounts Receivables	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	30.68M	20.61M	0	0	0	0	0	0	0	0
Intangible Assets	464.42M	643.46M	1.63B	3.26B	4.82B	7.7B	16.37B	54.31B	163.69B	147.48B
PP&E (Net)	1.92B	13.95B	15.21B	23.91B	35.05B	51.88B	102.99B	317.21B	776.95B	788.29B
Other Assets	-17.82B	2.39B	4.33B	-141.88B	2.59B	61.26B	64.3B	1.5T	1.47T	94.41B
Total Current Assets	19.8B	68.04B	55.46B	115.01B	166.17B	254.95B	461.57B	1.57T	4.24T	4.28T
Total Non-Current Assets	85.16B	226.99B	282.61B	425.29B	439.98B	914.14B	1.48T	4.94T	10.39T	10.21T
Total Assets+	104.95B	295.03B	338.07B	540.3B	606.15B	1.17T	1.95T	6.51T	14.63T	14.49T
Asset Growth %	0.4%	1.81%	0.15%	0.6%	0.12%	0.93%	0.67%	2.34%	1.25%	-0.01%
Return on Assets (ROA)	0.06%	0.03%	0.03%	-0%	0.07%	0.09%	0.09%	0.07%	0.12%	0.02%
Accounts Payable	76.59M	394.89M	2.89B	1.69B	0	0	0	0	0	0
Total Debt+	3.34B	14.85B	18.13B	33.33B	43.23B	61.92B	90.36B	239.19B	914.79B	465.41B
Net Debt	-16.45B	-51.45B	-34.38B	-81.68B	-93.83B	-134.26B	-245.34B	-539.6B	-1.78T	-2.31T
Long-Term Debt	3.34B	14.85B	18.13B	33.33B	40.62B	59.21B	87.59B	233.07B	842.95B	432.47B
Short-Term Debt	0	0	0	0	1.36B	933.68M	0	0	51.4B	18.96B
Other Liabilities	-3.34B	26.28B	32.16B	-36.93B	59.9B	129.47B	227.03B	597.98B	1.77T	1.44T
Total Current Liabilities	0	206.6B	215.82B	0	359.23B	738.65B	1.15T	4.04T	7.46T	8.48T
Total Non-Current Liabilities	0	41.13B	50.5B	0	102.53B	201.69B	329.56B	878.08B	2.73T	1.96T
Total Liabilities	89.07B	247.74B	266.32B	446.61B	461.76B	940.34B	1.48T	4.91T	10.19T	10.44T
Total Equity+	16.01B	47.29B	71.44B	93.69B	144.39B	228.75B	466.8B	1.6T	4.44T	4.05T
Equity Growth %	0.38%	1.95%	0.51%	0.31%	0.54%	0.58%	1.04%	2.42%	1.78%	-0.09%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.36%	0.21%	0.15%	-0.02%	0.36%	0.41%	0.4%	0.27%	0.42%	0.08%
Book Value per Share	273.84	798.53	1054.80	1445.09	2259.67	3577.43	7300.41	24946.63	69432.79	63350.49
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	584.56M	584.56M	0	669.66M	639.41M	639.41M	639.41M	639.41M	639.41M	639.41M
Additional Paid-in Capital	399.5M	3.45B	0	12.43B	12.43B	12.43B	12.43B	12.43B	12.43B	12.43B
Retained Earnings	5.13B	9.94B	0	-17.47B	-35.78B	-97.57B	-85.72B	-249.98B	431.63B	-521.64B
Accumulated OCI	9.75B	26.63B	0	64.56B	116.78B	230.64B	366.09B	1.26T	2.74T	3.31T
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	0	0	-26.08B	159.43B	0	351.9B	271.77B	1.61T	-185.6B	918.59B
Operating CF Growth %	-	-	-	7.11%	-1%	-	-0.23%	4.93%	-1.12%	5.95%
Net Income	0	0	22.07B	18.34B	0	70.31B	145.94B	24.04B	972.16M	129.16B
Depreciation & Amortization	0	0	2.16B	3.09B	0	12.94B	43.22B	103.41B	64.92M	138.14B
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	0	0	19.12B	25.44B	0	340.9B	48.53B	1.04T	1.75T	5.45T
Working Capital Changes	0	0	-69.43B	112.57B	0	-72.27B	34.07B	442.03B	-1.94T	-4.79T
Cash from Investing+	0	0	0	-5.27B	0	-10.81B	-42.03B	-75.77B	177.09B	-133.69B
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	0	0	0	1000K	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	-216.27M	0	-24.54M	-8.53B
Other Investing	382.21M	400.42M	0	0	0	0	0	-11.89M	225B	-647.26M
Cash from Financing+	0	0	0	-16.42B	0	364.75B	-306.88B	-77.79B	-2.9T	-592.03B
Dividends Paid	0	0	0	-9.45B	-17.48B	-1.18M	0	-59.46B	-179.68M	-466.94B
Share Repurchases	0	0	0	-10.43B	-9.15M	0	0	0	0	0
Stock Issued	0	0	30.7B	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K
Other Financing	0	0	-30.7B	-1.94B	17.68B	371.64B	-297.96B	-3.23B	-2.91T	-8.34B
Net Change in Cash+	0	0	0	101.39B	0	574.4B	-171.34B	1.73T	-950.85B	-151.37B
Exchange Rate Effect	0	0	0	0	0	0	1000K	1000K	1000K	1000K
Cash at Beginning	0	0	0	172.19B	273.58B	589.98B	2.41T	1.88T	2.34T	3.01T
Cash at End	0	0	0	273.58B	302.88B	775.06B	1.88T	2.34T	1.38T	2.86T
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	732.31B	1.59T	3.41T	1.8T
Free Cash Flow+	0	0	0	154.16B	0	341.09B	229.96B	1.54T	-142.3B	794.07B
FCF Growth %	-	-	-	-	-1%	-	-0.33%	5.68%	-1.09%	6.58%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	36.32%	20.67%	15.38%	-1.82%	35.76%	41.22%	39.9%	26.82%	42.01%	7.67%
Return on Assets (ROA)	5.57%	3.27%	2.89%	-0.34%	7.43%	8.66%	8.91%	6.54%	11.99%	2.24%
Net Interest Margin	10.06%	5.04%	17.89%	18.69%	29.63%	24.33%	41.1%	31.93%	12.3%	11.1%
Efficiency Ratio	100%	100%	100%	100%	45.81%	46.04%	56.76%	52.73%	42.91%	62.71%
Equity / Assets	15.25%	16.03%	21.13%	17.34%	23.82%	19.57%	23.98%	24.51%	30.35%	27.95%
Book Value / Share	273.84	798.53	1.05K	1.45K	2.26K	3.58K	7.3K	24.95K	69.43K	63.35K
NII Growth	46.72%	40.81%	307.02%	66.99%	77.83%	58.38%	181.24%	159.78%	-13.44%	-10.58%
Dividend Payout	-	-	-	-	0.61%	0%	-	21.51%	0%	143.45%

Frequently Asked Questions

Valuation & Price

Banco Macro S.A. (BMA) has a price-to-earnings (P/E) ratio of 0.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Banco Macro S.A. (BMA) saw revenue decline by 33.3% over the past year.

Yes, Banco Macro S.A. (BMA) is profitable, generating $415.38B in net income for fiscal year 2024 (5.0% net margin).

Dividend & Returns

Yes, Banco Macro S.A. (BMA) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

Banco Macro S.A. (BMA) has a return on equity (ROE) of 7.7%. This is below average, suggesting room for improvement.

Industry Metrics

Banco Macro S.A. (BMA) has a net interest margin (NIM) of 11.1%. This indicates healthy earnings from lending activities.

Banco Macro S.A. (BMA) has an efficiency ratio of 62.7%. This is reasonable for a bank.

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