Banco Macro S.A. (BMA) Financial Ratios
21 years of historical data (2004–2024) · Financial Services · Banks - Regional
EV/EBITDA
↓
8.89
—
5yr avg: N/A
30Y Low2.5·High2.7
P/FCF
↑
8.49
↑+221853% vs avg
5yr avg: 0.00
30Y Low0.0·High2.8
P/B Ratio
↓
1.69
↑+95322% vs avg
5yr avg: 0.00
30Y Low0.0·High0.9
ROE
↓
7.7%
↑-76% vs avg
5yr avg: 31.5%
30Y Low-2%·High42%
Debt/EBITDA
↑
0.93
↑+62% vs avg
5yr avg: 0.58
30Y Low0.5·High5.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BMA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Banco Macro S.A. trades at 21.1x earnings, 93585% above its 5-year average of 0.0x, sitting at the 100th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a premium of 58%. On a free-cash-flow basis, the stock trades at 8.5x P/FCF, 221853% above the 5-year average of 0.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.8B | $6.2B | $1.8B | $1.0B | $896M | $996M | $2.3B | $2.9B | $7.8B | $3.8B | $3.4B |
| Enterprise Value | $3.2B | $-2304514053812 | $-1778055862690 | $-538552388854 | $-244440550974 | $-133261270959 | $-91517031000 | $-78817228612 | $-26528633424 | $-47642415972 | $-13057195000 |
| P/E Ratio → | 21.07 | 0.02 | 0.00 | 0.02 | 0.03 | 0.03 | 0.06 | — | 0.86 | 0.58 | 0.68 |
| P/S Ratio | 1.04 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.09 | 0.18 | 0.21 |
| P/B Ratio | 1.69 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.03 | 0.11 | 0.08 | 0.21 |
| P/FCF | 8.49 | 0.01 | — | 0.00 | 0.00 | 0.00 | — | 0.02 | — | — | — |
| P/OCF | 7.33 | 0.01 | — | 0.00 | 0.00 | 0.00 | — | 0.02 | — | — | — |
P/E links to full P/E history page with 30-year chart
BMA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Banco Macro S.A.'s enterprise value stands at 8.9x EBITDA. The Financial Services sector median is 11.4x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.36 | -0.18 | -0.10 | -0.14 | -0.23 | -0.24 | -0.61 | -0.31 | -2.22 | -0.82 |
| EV / EBITDA | 8.89 | -4.63 | -0.88 | -1.20 | -1.29 | -1.04 | -1.21 | — | — | — | — |
| EV / EBIT | 12.30 | -6.40 | -0.94 | -1.34 | -1.67 | — | -1.32 | — | — | — | — |
| EV / FCF | — | -2.90 | — | -0.35 | -1.06 | -0.39 | — | -0.51 | — | — | — |
BMA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Banco Macro S.A. earns an operating margin of 5.6%, below the Financial Services sector average of 21.2%. Operating margins have compressed from 7.5% to 5.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 7.7% is modest, trailing the sector median of 9.4%. ROIC of 5.5% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3% | 68.3% | 62.3% | 60.2% | 65.3% | 65.6% | 63.7% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 5.6% | 5.6% | 19.4% | 7.5% | 8.6% | 19.6% | 17.9% | — | — | — | — |
| Net Profit Margin | 5.0% | 5.0% | 13.1% | 5.1% | 8.2% | 13.1% | 11.0% | -1.2% | 10.5% | 30.5% | 31.3% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 42.0% | 26.8% | 39.9% | 41.2% | 35.8% | -1.8% | 15.4% | 20.7% | 36.3% |
| ROA | 2.2% | 2.2% | 12.0% | 6.5% | 8.9% | 8.7% | 7.4% | -0.3% | 2.9% | 3.3% | 5.6% |
| ROIC | 5.5% | 5.5% | 39.3% | 25.2% | 25.8% | 36.1% | 33.0% | — | — | — | — |
| ROCE | 5.5% | 5.5% | 39.0% | 24.5% | 23.8% | 34.0% | 32.3% | — | — | — | — |
BMA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Banco Macro S.A. carries a Debt/EBITDA ratio of 0.9x, which is very conservative (77% below the sector average of 4.1x). The company holds a net cash position — cash of $2.8T exceeds total debt of $465.4B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.21 | 0.15 | 0.19 | 0.27 | 0.30 | 0.36 | 0.25 | 0.31 | 0.21 |
| Debt / EBITDA | 0.93 | 0.93 | 0.46 | 0.53 | 0.48 | 0.48 | 0.57 | — | — | — | — |
| Net Debt / Equity | — | -0.57 | -0.40 | -0.34 | -0.53 | -0.59 | -0.65 | -0.87 | -0.48 | -1.09 | -1.03 |
| Net Debt / EBITDA | -4.64 | -4.64 | -0.89 | -1.20 | -1.30 | -1.05 | -1.25 | — | — | — | — |
| Debt / FCF | — | -2.91 | — | -0.35 | -1.07 | -0.39 | — | -0.53 | — | — | — |
| Interest Coverage | 0.19 | 0.19 | 0.53 | 0.19 | 0.25 | 0.64 | 0.52 | — | — | — | — |
Net cash position: cash ($2.78T) exceeds total debt ($465.4B)
BMA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.51x is below 1.0, meaning current liabilities exceed current assets — though the company's $2.8T cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.39x to 0.51x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.51 | 0.51 | 0.57 | 0.39 | 0.40 | 0.35 | 0.46 | — | 0.26 | 0.33 | — |
| Quick Ratio | 0.51 | 0.51 | 0.57 | 0.39 | 0.40 | 0.35 | 0.46 | — | 0.26 | 0.33 | — |
| Cash Ratio | 0.33 | 0.33 | 0.36 | 0.19 | 0.29 | 0.27 | 0.38 | — | 0.24 | 0.32 | — |
| Asset Turnover | — | 0.45 | 0.66 | 0.83 | 0.87 | 0.50 | 0.64 | 0.24 | 0.26 | 0.07 | 0.15 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BMA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Banco Macro S.A. returns 6.8% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 143.5%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.8% | 100.0% | 0.0% | 100.0% | — | 0.1% | 11.2% | 100.0% | — | — | — |
| Payout Ratio | 143.5% | 143.5% | 0.0% | 21.5% | — | 0.0% | 0.6% | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 5261.1% | 32004.9% | 4099.3% | 3025.7% | 3041.7% | 1760.3% | — | 116.3% | 171.6% | 147.5% |
| FCF Yield | 11.8% | 12834.6% | — | 146344.5% | 25651.9% | 34260.6% | — | 5376.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 100.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.8% | 100.0% | 0.0% | 100.0% | 0.0% | 0.1% | 11.6% | 100.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $64M | $64M | $64M | $64M | $64M | $64M | $65M | $68M | $59M | $58M |
Peer Comparison
Compare BMA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BMAYou | $5B | 21.1 | 8.9 | 8.5 | 68.3% | 5.6% | 7.7% | 5.5% | 0.9 |
 GGAL | $6B | 5.1 | 2.7 | — | 62.7% | 20.8% | 40.2% | 31.0% | 0.9 |
 SUPV | $765M | -18.7 | — | — | 39.5% | -4.8% | -6.3% | -5.7% | — |
 BBAR | $3B | 12.6 | 3.8 | — | 65.9% | 8.5% | 12.7% | 10.7% | 0.7 |
 CEPU | $2B | 64.7 | 11.5 | 9999.0 | 39.5% | 26.7% | 2.7% | 6.2% | 1.2 |
 ITUB | $93B | 10.6 | 20.9 | 3.6 | 34.5% | 13.1% | 20.6% | 3.2% | 17.6 |
 BBD | $41B | 8.7 | — | — | 34.6% | -1.1% | 13.3% | -0.3% | — |
 BSAC | $15B | 0.0 | 17.4 | 21.5 | 48.8% | 26.7% | 18.4% | 4.5% | 11.5 |
 BAP | $26B | 16.5 | 9.4 | 6.7 | 64.2% | 29.0% | 16.2% | 8.2% | 4.4 |
 SID | $2B | -6.0 | 5.5 | 2.9 | 26.8% | 9.1% | -14.7% | 6.1% | 7.3 |
 YPF | $17B | -19.7 | 5.5 | — | 27.0% | 8.9% | -8.5% | 6.8% | 2.3 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 21 years · Updated daily
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Start ComparisonBMA — Frequently Asked Questions
Quick answers to the most common questions about buying BMA stock.
What is Banco Macro S.A.'s P/E ratio?
Banco Macro S.A.'s current P/E ratio is 21.1x. The historical average is 1.1x. This places it at the 100th percentile of its historical range.
What is Banco Macro S.A.'s EV/EBITDA?
Banco Macro S.A.'s current EV/EBITDA is 8.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.6x.
What is Banco Macro S.A.'s ROE?
Banco Macro S.A.'s return on equity (ROE) is 7.7%. The historical average is 25.5%.
Is BMA stock overvalued?
Based on historical data, Banco Macro S.A. is trading at a P/E of 21.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Banco Macro S.A.'s dividend yield?
Banco Macro S.A.'s current dividend yield is 6.81% with a payout ratio of 143.5%.
What are Banco Macro S.A.'s profit margins?
Banco Macro S.A. has 68.3% gross margin and 5.6% operating margin.
How much debt does Banco Macro S.A. have?
Banco Macro S.A.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.