BMA

MKT CAP:$5B

Banco Macro S.A.

Market Cap

$5B

Financial Services·Banks - Regional·🇦🇷 Argentina·NYSE

Financials·Banks - Regional·🇦🇷·NYSE

Stock Price

$74.51-$14.26 (-16.06%)

Apr 23, 2026

Company Details

Banco Macro S.A. provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit c...

CEO

Juan Martin Parma

IPO Date

Mar 27, 2006

Website

www.macro.com.ar

Key Metrics TTM

Revenue

$36.0B

-24.1% YoY

Net Income

$12.2B

EPS (Diluted)

$191.11

Free Cash Flow

-$730M

Revenue / Share

$563.01

Gross Margin

97.6%

Operating Margin

0.4%

Net Margin

33.9%

FCF Margin

-2.0%

P/S

0.1x

P/E

0.4x

Earnings Reports

Q3 2025

Dec 17, 2025

$1.0BEPS -$0.37

Q2 2025

Sep 18, 2025

$1.0BEPS $1.68

Q3 2019

Oct 23, 2019

$16.3BEPS $142.50

Q2 2019

Jun 30, 2019

$17.6BEPS $47.30

Q1 2019

Mar 31, 2019

$21.7BEPS $61.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$4.4B	$4.4B	$0
Q2 16	$5.4B	$5.4B	$0
Q3 16	$5.4B	$5.4B	$0
Q4 16	$6.2B	$6.2B	$0
Q1 17	$7.7B	$7.7B	$0
Q2 17	$8.5B	$8.5B	$0
Q3 17	$9.5B	$9.5B	$0
Q1 19	$21.7B	$21.7B	$0
Q2 19	$17.6B	$17.6B	$0
Q3 19	$16.3B	$16.3B	$0
Q2 25	$1.0B	$659M	$177M
Q3 25	$1.0B	$545M	-$27M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	0.2x	0.7x
Q1 17	0.2x	0.7x
Q2 17	0.2x	0.6x
Q3 17	0.1x	0.5x
Q1 19	0.1x	0.4x
Q2 19	0.1x	0.4x
Q3 19	0.1x	0.3x
Q2 25	0.1x	0.3x
Q3 25	0.1x	0.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 14	-$2.3B	-$2.4B
Q4 15	$0	$0
Q1 16	$0	$0
Q2 16	$0	$0
Q3 16	$0	$0
Q4 16	$0	$0
Q1 17	-$14M	$0
Q2 17	$6M	$0
Q3 17	-$1M	$0
Q3 19	-$48M	-$49M
Q2 25	-$654M	-$681M
Q3 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q1 14	$116M
Q4 15	$50.2K
Q1 16	$0
Q2 16	$0
Q3 16	$0
Q4 16	$0
Q1 17	$0
Q2 17	$0
Q3 17	$0
Q3 19	$1M
Q2 25	$27M
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	+73.5%	+73.5%
Q2 17	+56.8%	+56.8%
Q3 17	+77.4%	+77.4%
Q1 19	+249.8%	+249.8%
Q2 19	+128.5%	+128.5%
Q3 19	+91.9%	+91.9%
Q2 25	-89.3%	-91.2%
Q3 25	-95.2%	-95.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 14	$0	—
Q4 15	$0	—
Q1 16	$0	0.0%
Q2 16	$0	0.0%
Q3 16	$0	0.0%
Q4 16	$0	0.0%
Q1 17	$0	0.0%
Q2 17	$0	0.0%
Q3 17	$0	0.0%
Q3 19	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 16	$1.5B	$48M
Q2 16	$1.8B	$35M
Q3 16	$1.9B	$39M
Q4 16	$2.0B	$75M
Q1 17	$2.6B	$43M
Q2 17	$2.8B	$38M
Q3 17	$2.9B	$56M
Q1 19	$7.5B	$79M
Q2 19	$10.2B	$134M
Q3 19	$10.1B	$149M
Q2 25	$190M	$6M
Q3 25	$219M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$242M	$0	$242M
Q1 22	$126M	$0	$126M
Q2 22	$131M	$0	$131M
Q3 22	$145M	$75M	$220M
Q4 22	$561M	$309M	$871M
Q1 23	$214M	$0	$214M
Q2 23	$239M	$0	$239M
Q3 23	$322M	$0	$322M
Q4 23	$1.9B	$458M	$2.4B
Q1 24	$828M	$0	$828M
Q2 24	$1.2B	$0	$1.2B
Q3 24	$2.5B	$0	$2.5B
Q4 24	$2.0B	$316M	$2.3B
Q1 25	$1.6B	$256M	$1.9B
Q2 25	$1.9B	$206M	$2.1B
Q3 25	$2.3B	$0	$2.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	59M	—	—
Q2 16	58M	-1.3%	—
Q3 16	59M	+0.1%	—
Q4 16	58M	-0.1%	—
Q1 17	58M	+0.0%	-1.3%
Q2 17	59M	+1.7%	+1.7%
Q3 17	67M	+12.4%	+14.2%
Q1 19	64M	-4.4%	+9.3%
Q2 19	64M	+0.1%	+9.4%
Q3 19	64M	0.0%	+7.6%
Q2 25	64M	+0.0%	-4.3%
Q3 25	64M	0.0%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$508.8K	9K
Q2 16	$621.9K	9K
Q3 16	$615.4K	9K
Q4 16	$720.4K	9K
Q1 17	$894.3K	9K
Q2 17	$987.7K	9K
Q3 17	$1M	9K
Q1 19	$2M	9K
Q2 19	$2M	9K
Q3 19	$2M	9K
Q2 25	$112.9K	9K
Q3 25	$115.5K	9K

Revenue / Employee