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Banco Macro SA B ADR(BMA)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for BMA
10/23/2026: BMA (3-star) is currently NOT-A-BUY. Pass it for now.
Banco Macro SA is a major Argentine private-sector bank known for its extensive retail footprint and strong historical presence in the country's interior provinces. The company's primary strength lies in its solid deposit base and conservative capital management, which provide resilience in a volatile environment. Its main investment story centers on the potential for growth as the Argentine economy stabilizes and demand for private sector credit increases. However, investors face material risks related to macroeconomic volatility, currency devaluation, and intense regulatory oversight. The stock best suits value-oriented investors who can tolerate high risk and monitor the complex interplay between local government policy and bank performance.
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 style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | Long-term growth is constrained by the cyclical nature of the Argentine economy. |
| Momentum investor | Mixed fit | Subject to high momentum during market-friendly political cycles, conditional on positive macro signals. |
| Value investor | Strong fit | Often trades at low valuation multiples relative to book value due to country-specific risk discounts. |
| Dividend investor | Weak fit | Dividend reliability is hampered by regulatory restrictions from the Argentine Central Bank. |
| Low-risk investor | Weak fit | High exposure to sovereign debt and currency volatility makes this a high-risk investment. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The ADR frequently experiences sharp price swings linked to Argentine political and economic news. |
| Valuation risk | Medium | Market valuations are often driven more by macro sentiment than fundamental earnings multiples. |
| Competition risk (Banking) | Medium | Increasing competition from fintech and digital-only banks threatens traditional fee income. |
| Business quality | Medium | While the franchise is established, the quality is inextricably linked to the volatile local regulatory environment. |
| Dividend income | High | Payouts are not guaranteed and are sensitive to Central Bank of Argentina policy. |
| Execution risk | Medium / high | Successfully navigating inflationary environments requires precise asset-liability management. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 199.64% | Avg. Invested days 43 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/23/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.02B USD | Price to earnings Ratio 12.87 | 1Y Target Price 104.95 |
Price to earnings Ratio 12.87 | 1Y Target Price 104.95 | ||
Volume (30-day avg) 298.0K shares | Beta 0.41 | 52 Weeks Range 61.50 - 103.00 | Updated Date 10/23/2026 |
52 Weeks Range 61.50 - 103.00 | Updated Date 10/23/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 4.89 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Net Interest Income | Interest earned on loans and securities net of interest paid on deposits. | The bank earns most of its money by managing the spread between interest earned from borrowers and interest paid to savers. |
| Fee-Based Income | Account maintenance fees, credit card services, and insurance commissions. | These are stable, non-interest revenues derived from day-to-day banking operations. |
| Argentina (Geography) | All operations and earnings derived from the domestic Argentine market. | The bank's success is entirely dependent on the economic health and stability of the Argentine market. |
Valuation
Trailing PE 12.87 | Forward PE 3.1 | Enterprise Value -1.65T | Price to Sales(TTM) - |
Enterprise Value -1.65T | Price to Sales(TTM) - | ||
Enterprise Value to Revenue 2.22 | Enterprise Value to EBITDA - | Shares Outstanding 62.82M | Shares Floating 21.12M |
Shares Outstanding 62.82M | Shares Floating 21.12M | ||
Percent Insiders 0.16 | Percent Institutions 12.25 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
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)
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)
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)
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)
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)
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)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
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)
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)
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)
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)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
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)
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)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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