Fact based stock research
Banco Macro (BASE:BMA)
ARBANS010010
How to read the ranks
For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.
Banco Macro stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 41 (worse than 59% compared with investment alternatives), Banco Macro (Diversified Banks, Argentina) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Banco Macro are low in value (priced high) with a consolidated Value Rank of 25 (worse than 75% of alternatives), and are riskily financed (Safety Rank of 34, which means above-average debt burdens) but show above-average growth (Growth Rank of 83). ...read more
RECOMMENDATION: A Combined Rank of 41, is a hold recommendation based on Banco Macro's financial characteristics. As the company Banco Macro shows low value with an Obermatt Value Rank of 25 (75% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 83% of comparable companies (Obermatt Growth Rank is 83). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 34 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Banco Macro, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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Country | Argentina |
Industry | Diversified Banks |
Index | MERVAL |
Size class | XX-Large |
This stock has achievements: Top 10 Stock.
18-Apr-2024. Stock data may be delayed. Log in or sign up to get the most recent research.
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: Banco Macro
RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
VALUE | ||||||||
VALUE | 68 |
|
61 |
|
25 |
|
25 |
|
GROWTH | ||||||||
GROWTH | 51 |
|
35 |
|
91 |
|
83 |
|
SAFETY | ||||||||
SAFETY | 73 |
|
65 |
|
23 |
|
34 |
|
SENTIMENT | ||||||||
SENTIMENT | n/a |
|
17 |
|
3 |
|
new | |
360° VIEW | ||||||||
360° VIEW | n/a |
|
29 |
|
11 |
|
new |
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 41 (worse than 59% compared with investment alternatives), Banco Macro (Diversified Banks, Argentina) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Banco Macro are low in value (priced high) with a consolidated Value Rank of 25 (worse than 75% of alternatives), and are riskily financed (Safety Rank of 34, which means above-average debt burdens) but show above-average growth (Growth Rank of 83). ...read more
RECOMMENDATION: A Combined Rank of 41, is a hold recommendation based on Banco Macro's financial characteristics. As the company Banco Macro shows low value with an Obermatt Value Rank of 25 (75% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 83% of comparable companies (Obermatt Growth Rank is 83). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 34 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Banco Macro, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
VALUE | ||||||||
VALUE | 68 |
|
61 |
|
25 |
|
25 |
|
GROWTH | ||||||||
GROWTH | 51 |
|
35 |
|
91 |
|
83 |
|
SAFETY | ||||||||
SAFETY | 73 |
|
65 |
|
23 |
|
34 |
|
COMBINED | ||||||||
COMBINED | 75 |
|
61 |
|
39 |
|
41 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 25 (worse than 75% compared with alternatives), Banco Macro shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for Banco Macro. Price-to-Sales (P/S) is 57, which means that the stock price compared with what market professionals expect for future sales is lower than for 57% of comparable companies, indicating a good value concerning Banco Macro's revenue size. The same is valid for dividend yields with a Dividend Yield rank of 51, which means that dividends are expected to be higher than for 51% of comparable investments. On the other hand, the Price-to-Book Capital ratio (also referred to as market-to-book ratio) is less favorable than for 97% of alternatives (only 3% of peers have an even higher ratio). The same is valid for the Price-to-Profit (or Price / Earnings, P/E) ratio, which is higher than for 73% of comparable companies, making the stock more expensive compared with the company's expected profit levels. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 25, is a hold recommendation based on Banco Macro's stock price compared with the company's operational size and dividend yields. This is a somewhat surprising picture, because it means that profits are low while dividends are high. One interpretation could be that profits are expected to increase, justifying the high dividend payments. But it could also mean that the company desperately keeps the high dividends to avoid a collapsing share price. This would be a rather dangerous constellation. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more
VALUE METRICS | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
PRICE VS. REVENUES (P/S) | ||||||||
PRICE VS. REVENUES (P/S) | 89 |
|
83 |
|
89 |
|
57 |
|
PRICE VS. PROFITS (P/E) | ||||||||
PRICE VS. PROFITS (P/E) | 55 |
|
61 |
|
4 |
|
27 |
|
PRICE VS. CAPITAL (Market-to-Book) | ||||||||
PRICE VS. CAPITAL (Market-to-Book) | 48 |
|
52 |
|
15 |
|
3 |
|
DIVIDEND YIELD | ||||||||
DIVIDEND YIELD | 76 |
|
32 |
|
22 |
|
51 |
|
CONSOLIDATED RANK: VALUE | ||||||||
CONSOLIDATED RANK: VALUE | 68 |
|
61 |
|
25 |
|
25 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 83 (better than 83% compared with alternatives) for 2024, Banco Macro shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Banco Macro. Sales Growth has a rank of 94 which means that currently, professionals expect the company to grow more than 94% of its competitors. Both Profit Growth, with a rank of 95, and Stock Returns, with a rank of 99, are also above average. But Capital Growth only has a rank of 5, which means that, currently, professionals expect the company to grow its invested capital less than 95% of its competitors. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 83, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more
GROWTH METRICS | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
REVENUE GROWTH | ||||||||
REVENUE GROWTH | 100 |
|
49 |
|
98 |
|
94 |
|
PROFIT GROWTH | ||||||||
PROFIT GROWTH | 31 |
|
8 |
|
94 |
|
95 |
|
CAPITAL GROWTH | ||||||||
CAPITAL GROWTH | n/a |
|
21 |
|
5 |
|
5 |
|
STOCK RETURNS | ||||||||
STOCK RETURNS | 54 |
|
89 |
|
97 |
|
99 |
|
CONSOLIDATED RANK: GROWTH | ||||||||
CONSOLIDATED RANK: GROWTH | 51 |
|
35 |
|
91 |
|
83 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 34 (better than 34% compared with alternatives), the company Banco Macro has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Banco Macro is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Banco Macro and the other two below average. Leverage is at a rank of 74 meaning the company has a below-average debt-to-equity ratio. It has less debt than 74% of its competitors.Refinancing is at a rank of 39, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 61% of its competitors. Liquidity is at a rank of 23, meaning that the company generates less profit to service its debt than 77% of its competitors. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 34 (worse than 66% compared with alternatives), Banco Macro has a financing structure that is riskier than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of Banco Macro are on the safer side. Investors may have a short-term debt challenge and liquidity issues with Banco Macro and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more
SAFETY METRICS | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
LEVERAGE | ||||||||
LEVERAGE | 78 |
|
74 |
|
74 |
|
74 |
|
REFINANCING | ||||||||
REFINANCING | 22 |
|
59 |
|
45 |
|
39 |
|
LIQUIDITY | ||||||||
LIQUIDITY | 89 |
|
35 |
|
7 |
|
23 |
|
CONSOLIDATED RANK: SAFETY | ||||||||
CONSOLIDATED RANK: SAFETY | 73 |
|
65 |
|
23 |
|
34 |
|
Sentiment Metrics in Detail
SENTIMENT | 2021 | 2022 | 2023 | 2024 | ||||
---|---|---|---|---|---|---|---|---|
ANALYST OPINIONS | ||||||||
ANALYST OPINIONS | n/a |
|
18 |
|
19 |
|
new | |
OPINIONS CHANGE | ||||||||
OPINIONS CHANGE | n/a |
|
50 |
|
11 |
|
new | |
PRO HOLDINGS | ||||||||
PRO HOLDINGS | n/a |
|
51 |
|
5 |
|
new | |
MARKET PULSE | ||||||||
MARKET PULSE | n/a |
|
32 |
|
20 |
|
new | |
CONSOLIDATED RANK: SENTIMENT | ||||||||
CONSOLIDATED RANK: SENTIMENT | n/a |
|
17 |
|
3 |
|
new |
Stock analysis by the purely fact based Obermatt Method for Banco Macro from April 18, 2024.
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