Voltar à classificação

Grupo Financiero Galicia S.A. (GGAL)

NEGATIVE
Financial ServicesBanks - RegionalArgentina

Fundamental

12

Preço

$43.93

Capitalização de Mercado

$7.36B

Parte 1 · Quanto vale a empresa

Visão Geral

Grupo Financiero Galicia is Argentina's largest private-sector financial group, built around Banco Galicia, one of the country's biggest banks by deposits and loans. Beyond traditional banking, it owns Naranja X, a digital wallet and consumer-finance business, an insurance arm, and asset management and brokerage units. In 2025 it absorbed the former HSBC Argentina banking, insurance and asset-management businesses, acquired through GGAL Holdings, more than doubling its branch and customer footprint inside a single fiscal year.

Como gera receita

Like any bank, Galicia earns mainly from the spread between what it pays depositors and what it charges borrowers, plus fees on cards, transfers, insurance and asset management sold to the same customer base. In Argentina that spread is unusually large and volatile, shaped as much by the central bank's policy rate and by high, swinging inflation as by ordinary lending demand — a structural feature of Argentine banking rather than something specific to Galicia. Results are reported under hyperinflation accounting, which restates the balance sheet for currency erosion each period.

Vantagem competitiva

Escala · Estreita

Banco Galicia's branch network, deposit base and now-absorbed HSBC Argentina customer base give it scale few private banks in Argentina can match, and a broad product suite — banking, cards, insurance, digital wallet — lets it cross-sell across the same relationship. That franchise is real, but it operates inside an economy prone to currency crises, capital controls and policy swings that can overwhelm any scale advantage almost overnight.

O que impulsiona a procura

Cíclico

Loan growth, deposit behaviour and net interest margin in Argentina move with the country's own economic and political cycle — inflation, interest rate policy, currency controls and periodic recessions or currency crises — far more than with any global cycle. A bank this exposed to one country's macro and political stability will have results that swing sharply from year to year regardless of how well it is run.

Principais riscos

  • Large exposure to Argentine government debt — Banco Galicia holds public-sector exposure equal to a large share of its net worth, so its solvency is tied to the Argentine government's own ability and willingness to repay.
  • Operates under high, volatile inflation — Results are prepared under hyperinflation accounting because Argentina's inflation has been persistently high and unpredictable, which distorts reported earnings and makes year-over-year comparisons difficult.
  • Central bank controls rates, fees and dividends — Argentina's central bank influences the interest rates and fees banks can charge and has capped dividend payments in the past, limiting how much cash the group can return to shareholders.
  • Controlled by a single shareholder — EBA Holding controls the majority of voting power through a separate class of shares, so minority shareholders have limited influence over strategic decisions.
  • Integration risk from the HSBC Argentina acquisition — The 2025 absorption of former HSBC Argentina operations roughly doubled parts of the customer and branch base in a short period; integration missteps could disrupt service or erase expected synergies.

Os argumentos a favor

Buyers argue that Banco Galicia's scale, its recently absorbed HSBC Argentina customer base, and its diversified banking, insurance and digital-wallet franchise position it to capture disproportionate loan growth as the Argentine economy stabilizes and credit penetration recovers from historically low levels.

Os argumentos contra

Sellers worry that a bank this exposed to Argentina's public-sector debt, inflation and currency controls has results that depend more on the country's macro and political stability than on the quality of its own management, and that a single shareholder's voting control limits what minority holders can influence.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balanço & Liquidez

Receita

$9.26T

Últimos 12 meses (até 31/03/2026)

Resultado Líquido

$116.43B

Últimos 12 meses (até 31/03/2026)

Fluxo de Caixa Livre

-

Capital Próprio Total

$473M

Passivo Total

$6.73T

Rácio de Liquidez

-

Cobertura de Juros

-

Dívida/EBITDA

-

Resultados Por Ação

Receita & Resultado Líquido

Fluxo de Caixa Livre

Decomposição dos Resultados

Demonstração histórica

Margens ao longo do tempo

A dívida ao longo do tempo

Quanto pesa a dívida

Grelha do crescimento

Crescimento — Receitas

Estimativa de Valor Justo

Sobrevalorizada

Valor Justo

$28.32

Preço Atual

$43.93

Margem de Segurança

-55.1%

Intervalo de Valor Justo

$18.41 - $38.24

Métodos de Estimativa

Analyst Target:$67.84
DCF:$6.66
PE-based:$4.79
Graham Growth:$5.86
EPV:-
Consenso dos Analistas:Compra Forte (12B / 2H / 0S)
Última Surpresa de Resultados:-4.50%

Métricas de Avaliação

Rácio P/E

120.69

ROE

0.9%

Rácio P/B

12.18

P/FCF

-

Margem Bruta

0.0%

ROIC

1.3%

Radar de Rentabilidade

Value Creation (Economic Moat)

ROIC

1.3%

WACC

6.1%

ROIC − WACC

-4.8 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Critérios de Análise Fundamental

Aprovado (1)

  • Analyst Consensus 86% Buy

Reprovado (11)

  • Price CAGR 4.41%
  • ROIC 1.3%
  • Gross Margin 0.0%
  • P/B Ratio 12.18
  • Debt/Equity ratio
  • DCF valuation (Unknown)
  • ROE 1.2%
  • Earnings Surprise avg -201.9%
  • Earnings Quality (OCF/NI) -58677.00
  • Net Margin Trend 2.7% vs 26.0%
  • Piotroski F-Score 0/9

Indisponível (15)

  • EPS data insufficient
  • P/FCF NaN
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • Revenue Growth 5Y (Finnhub)
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Piotroski F-Score

0/9

Preocupações financeiras graves

score
criteria

Qualidade dos Resultados

-58677.00

Baixa qualidade: investigar a contabilidade

Diluição de Ações

-

A recomprar ações. Favorável ao acionista

Governação

Equipa Executiva

NomeCargoIdade
Mr. Fabian Enrique KonGM & CEO-
Mr. Gonzalo Javier Fernández CovaroChief Financial Officer-
Mr. Jose Luis Ronsini CPAChief Administrative Officer54
Mr. Pablo Eduardo FirvidaChief Investor Relations Officer58
Esteban TresserrasChief Legal Officer-
Mr. Falvio DoglioloChief Human Resources Officer-
Mr. Adrian Enrique PedemonteHead of Market Relations-
Mr. Adrian Enrique PedemonteHead of Market Relations-
Mr. Ezequiel VallsChief Risk Officer-
Constanza GorleriChief Sustainability Officer-

Parte 2 · O preço e o momento de entrar

Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.

Latest News

Recent headlines for GGAL, sourced from Markets Gazette.

No recent news for GGAL.