Banco Macro S.A. (BMA) Financial Ratios
22 years of historical data (2004–2025) · Financial Services · Banks - Regional
EV/EBITDA
↓
10.84
—
5yr avg: N/A
30Y Low0.8·High0.8
P/FCF
↑
N/A
—
5yr avg: 0.00
30Y Low0.0·High0.8
P/B Ratio
↓
1.82
↑+161566% vs avg
5yr avg: 0.00
30Y Low0.0·High0.3
ROE
↓
7.3%
↑-71% vs avg
5yr avg: 24.7%
30Y Low-2%·High127%
Debt/EBITDA
↑
2.23
↑+141% vs avg
5yr avg: 0.93
30Y Low0.5·High14.2
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 28.2x earnings, 161084% 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 13.6x, the stock trades at a premium of 107%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.5B | $5.8B | $6.2B | $1.8B | $1.0B | $896M | $996M | $2.3B | $2.9B | $7.8B | $3.8B |
| Enterprise Value | $5.1B | $-2045620939392 | $-2304514053812 | $-1778055862690 | $-538552388854 | $-244440550974 | $-133261270959 | $-91517031000 | $-1742083596612 | $-621720897424 | $-808054371130 |
| P/E Ratio → | 28.17 | 0.02 | 0.02 | 0.00 | 0.02 | 0.03 | 0.01 | 0.06 | — | 0.05 | 0.04 |
| P/S Ratio | 1.64 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 |
| P/B Ratio | 1.82 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.01 | 0.01 |
| P/FCF | — | — | 0.01 | — | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | — | — |
| P/OCF | — | — | 0.01 | — | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | — | — |
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 10.8x EBITDA. This is roughly in line with the Financial Services sector median of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.35 | -0.36 | -0.18 | -0.10 | -0.14 | -0.23 | -0.24 | -0.63 | -0.39 | -2.39 |
| EV / EBITDA | 10.84 | -2.97 | -4.63 | -0.88 | -1.20 | -1.29 | -1.04 | -1.21 | -18.03 | — | -49.13 |
| EV / EBIT | 12.53 | -3.43 | -6.40 | -0.94 | -1.34 | -1.67 | — | -1.32 | — | — | — |
| EV / FCF | — | — | -2.90 | — | -0.35 | -1.06 | -0.39 | -0.59 | -0.53 | — | — |
BMA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Banco Macro S.A. earns an operating margin of 10.2%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 19.4% to 10.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 7.3% is modest, trailing the sector median of 9.0%. ROIC of 7.9% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.5% | 50.5% | 68.3% | 62.3% | 60.2% | 65.3% | 65.6% | 63.7% | 100.0% | 100.0% | 100.0% |
| Operating Margin | 10.2% | 10.2% | 5.6% | 19.4% | 7.5% | 8.6% | 19.6% | 17.9% | 1.1% | — | 3.0% |
| Net Profit Margin | 5.8% | 5.8% | 5.0% | 13.1% | 5.1% | 8.2% | 13.1% | 11.0% | -1.2% | 10.5% | 30.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.3% | 7.3% | 7.7% | 42.0% | 26.8% | 39.9% | 41.2% | 4.0% | -1.9% | 16.3% | 27.1% |
| ROA | 1.8% | 1.8% | 2.2% | 12.0% | 6.5% | 8.9% | 8.7% | 0.7% | -0.4% | 3.1% | 4.3% |
| ROIC | 7.9% | 7.9% | 5.5% | 39.3% | 25.2% | 25.8% | 36.1% | 3.6% | 1.1% | — | 1.4% |
| ROCE | 4.1% | 4.1% | 5.5% | 39.0% | 24.5% | 23.8% | 34.0% | 1.2% | 0.3% | — | 0.7% |
BMA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Banco Macro S.A. carries a Debt/EBITDA ratio of 2.2x, which is manageable (48% below the sector average of 4.3x). The company holds a net cash position — cash of $3.6T exceeds total debt of $1.5T, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.11 | 0.21 | 0.15 | 0.19 | 0.27 | 0.30 | 0.36 | 0.25 | 0.31 |
| Debt / EBITDA | 2.23 | 2.23 | 0.93 | 0.46 | 0.53 | 0.48 | 0.48 | 0.57 | 7.37 | — | 14.25 |
| Net Debt / Equity | — | -0.39 | -0.57 | -0.40 | -0.34 | -0.53 | -0.59 | -0.65 | -0.87 | -0.48 | -1.09 |
| Net Debt / EBITDA | -2.98 | -2.98 | -4.64 | -0.89 | -1.20 | -1.30 | -1.05 | -1.25 | -18.06 | — | -49.36 |
| Debt / FCF | — | — | -2.91 | — | -0.35 | -1.07 | -0.39 | -0.61 | -0.53 | — | — |
| Interest Coverage | 0.26 | 0.26 | 0.19 | 0.53 | 0.19 | 0.25 | -0.00 | 0.52 | -0.05 | -0.08 | -0.03 |
Net cash position: cash ($3.59T) exceeds total debt ($1.54T)
BMA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Banco Macro S.A.'s current ratio of 40.09x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.57x to 40.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 40.09 | 40.09 | 0.51 | 0.57 | 0.39 | 0.40 | 0.35 | 0.46 | — | 0.26 | 0.33 |
| Quick Ratio | 40.09 | 40.09 | 0.51 | 0.57 | 0.39 | 0.40 | 0.35 | 0.46 | — | 0.26 | 0.33 |
| Cash Ratio | 40.09 | 40.09 | 0.33 | 0.36 | 0.19 | 0.29 | 0.27 | 0.38 | — | 0.24 | 0.32 |
| Asset Turnover | — | 0.25 | 0.45 | 0.66 | 0.83 | 0.87 | 0.50 | 0.64 | 0.24 | 0.26 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BMA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Banco Macro S.A. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 3.5% (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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | 143.5% | 0.0% | 21.5% | — | 0.0% | 13.6% | — | 0.6% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 5858.0% | 5261.1% | 78009.8% | 5152.9% | 3265.3% | 7721.9% | 1760.3% | — | 2130.4% | 2707.1% |
| FCF Yield | — | — | 12834.6% | — | 146344.5% | 25651.9% | 34260.6% | 6665.6% | 114861.3% | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $64M | $64M | $64M | $64M | $64M | $64M | $64M | $65M | $68M | $59M |
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 | $7B | 28.2 | 10.8 | — | 50.5% | 10.2% | 7.3% | 7.9% | 2.2 |
 GGAL | $9B | 58.0 | 14.4 | 329.0 | 41.3% | 2.5% | 3.3% | 2.6% | 6.7 |
 SUPV | $996M | -25.5 | — | — | 39.5% | -4.8% | -6.3% | -5.7% | — |
 BBAR | $4B | 20.8 | 5.9 | 4.0 | 54.8% | 9.2% | 10.2% | 9.2% | 3.1 |
 CEPU | $2B | 8.5 | 6.9 | 27.6 | 35.5% | 29.6% | 18.0% | 10.7% | 0.9 |
 ITUB | $86B | 10.2 | 20.6 | 3.5 | 34.5% | 13.1% | 20.6% | 3.2% | 17.6 |
 BBD | $36B | 7.9 | — | — | 34.6% | -1.1% | 13.3% | -0.3% | — |
 BSAC | $15B | 0.0 | 17.8 | 22.3 | 48.8% | 26.7% | 18.4% | 4.5% | 11.5 |
 BAP | $30B | 14.9 | 8.7 | 13.3 | 73.7% | 34.4% | 19.2% | 10.3% | 3.2 |
 SID | $1B | -3.6 | 5.3 | — | 27.0% | 10.6% | -12.6% | 6.7% | 6.2 |
 YPF | $20B | -24.1 | 6.2 | — | 27.0% | 8.9% | -8.5% | 6.8% | 2.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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BMA — 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 28.2x. The historical average is 0.3x. 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 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 0.8x.
What is Banco Macro S.A.'s ROE?
Banco Macro S.A.'s return on equity (ROE) is 7.3%. The historical average is 28.2%.
Is BMA stock overvalued?
Based on historical data, Banco Macro S.A. is trading at a P/E of 28.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Banco Macro S.A.'s profit margins?
Banco Macro S.A. has 50.5% gross margin and 10.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Banco Macro S.A. have?
Banco Macro S.A.'s Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.