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Bladex Inc.(BLX)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
2-STAR RATING
PASS
LAST CLOSE
$54.74
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for BLX

09/25/2026: BLX (2-star) is currently NOT-A-BUY. Pass it for now.

Bladex Inc. is a specialized multilateral bank providing essential trade finance and structured lending services to corporations and financial institutions across Latin America. The bank has a unique market position, supported by its strong credit quality and established relationships with regional central banks. Its primary growth opportunity lies in capitalizing on the ongoing nearshoring trends that are increasing regional trade volumes. However, investors must consider risks related to regional economic volatility and intense competition from larger global financial institutions. The stock may particularly suit dividend-focused and value-oriented investors looking for exposure to Latin American growth through a stable, well-capitalized banking institution.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitBladex provides steady growth but is more suited to those seeking stable banking exposure rather than high-growth momentum.
Momentum investorWeak fitThe stock tends to trade based on long-term credit fundamentals rather than rapid price momentum.
Value investorStrong fitBladex often trades at attractive valuations relative to book value and provides a strong dividend yield.
Dividend investorStrong fitThe company has a strong record of consistent dividend payments that appeal to income-focused investors.
Low-risk investorMixed fitWhile it is a stable bank, exposure to Latin American markets inherently introduces moderate geopolitical and economic risk.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMediumThe stock is susceptible to fluctuations in regional economic sentiment.
Valuation riskLowThe stock is generally priced in line with banking peers, reducing significant overvaluation risk.
Competition risk (Global Banking)Medium / highLarge global banks provide intense competition for trade finance business.
Business qualityStrongThe bank maintains a high-quality credit portfolio and specialized market niche.
Dividend incomeStrongConsistent payouts support the stock's appeal to income-oriented portfolios.
Execution riskLowThe management team has demonstrated historical stability in executing the bank's core mandate.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Smooth
PRICE STABILITY

Smooth

The stock has moved along a generally orderly path with only modest fluctuations.

Analysis of Past Performance

Type Stock
Historic Profit 44.26%
Avg. Invested days 64
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 4.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
BLX receives a 4-star rating, supported by strong unit economics, and solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
BLX has moderate overall fundamentals (3 stars), with solid financial health, moderate growth momentum, and moderate ownership. In FY2025 versus FY2024, solid earnings growth (+10.2%) and strong cash generation (FCF margin 109.2%) are partially offset by negative revenue growth (-58.1%), modest insider ownership of 3.91%.

Financial Health Rating

★★★★★
BLX's financial health is supported by strong profitability, including gross margin of 93.5% and operating margin of 66.8%. Liquidity is moderate (3 stars), which helps explain the 4-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is BLX's strongest growth driver at +132.8% FY2025 versus FY2024 (strong, 5 stars). By comparison, earnings growth (+10.2%, solid) is also solid, while revenue growth (-58.1%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 34.8% and approximately 0.1% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 3.91% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

LSV Asset Management 3.05%
Uniplan Investment Counsel, Inc. 0.32%
Martingale Asset Management L P 0.12%
Ramirez Asset Management Inc 0.11%
Rhumbline Advisers 0.10%

Unit Economics (Per $1K Revenue)

★★★★★
BLX generates approximately $935 of gross profit, $668 of operating income, and $1,092 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
BLX has a high-quality, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltLow VolatilitySmall / Mid Cap Risk

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 2.04B USD
Price to earnings Ratio 9.11
1Y Target Price 65.9
Price to earnings Ratio 9.11
1Y Target Price 65.9
Volume (30-day avg) 175.7K shares
Beta 0.78
52 Weeks Range 36.43 - 62.45
Updated Date 09/24/2026
52 Weeks Range 36.43 - 62.45
Updated Date 09/24/2026
Dividends yield (FY) 4.98%
Basic EPS (TTM) 6

How Company Makes Money

Business areaWhat it includesRetail investor read
Trade FinanceLetters of credit and trade-related loans for regional export/import activities.This is the core business that generates reliable fee and interest income by facilitating cross-border trade.
Corporate BankingMedium-term structured financing for corporations.Provides larger, longer-term interest-based income from established regional companies.
Treasury OperationsInvestment of liquid assets and funding activities.Helps the bank manage its own money and earn a spread on its liquidity pools.

Analyzing Revenue: Products, Geography and Growth

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 9.11
Forward PE 8.38
Enterprise Value 3.83B
Price to Sales(TTM) 6.2
Enterprise Value 3.83B
Price to Sales(TTM) 6.2
Enterprise Value to Revenue 18.88
Enterprise Value to EBITDA -
Shares Outstanding 30.06M
Shares Floating 29.28K
Shares Outstanding 30.06M
Shares Floating 29.28K
Percent Insiders 3.91
Percent Institutions 34.82

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Bladex Inc.

Exchange NYSE
Headquarters -
IPO Launch date 1992-09-24
CEO -
Sector Financial Services
Industry Banks - Regional
Full time employees -
Full time employees -

Bladex Inc., a multinational bank, engages in financing of foreign trade and economic integration in Latin America and the Caribbean. It operates through Commercial and Treasury segments. The company accepts deposits. It also offers products and services, such as origination of bilateral short- and medium-term loans, structured and syndicated credits, and loan commitments; financial guarantee contracts, including issued and confirmed letters of credit, stand-by letters of credit, guarantees covering commercial risk, and other assets of customers' liabilities under acceptances; and co-financing arrangements, underwriting of syndicated credit facilities, structured trade financing in the form of factoring and vendor financing, and financial leasing. In addition, the company is involved in investment management activities comprising securities at fair value through other comprehensive income and amortized cost. It serves financial institutions, corporations, sovereigns, and state-owned entities. The company was formerly known as Banco Latinoamericano de Comercio Exterior, S. A. and changed its name to Bladex Inc. in June 2026. Bladex Inc. was founded in 1975 and is headquartered in Panama City, the Republic of Panama.