Financial holding controlling Banco Galicia.
Merval Analysis
Independent equity research on Argentine listed companies. Each report starts from audited financial statements, reconciled across the Balance Sheet, Income Statement, Cash Flow Statement and Statement of Changes in Equity, and is valued with discounted cash flow, market multiples and dividend models.
Assumptions are explicit, the models are open to scrutiny, and the conclusions follow the numbers.
In God we trust, all others must bring data.
- 2Companies covered
- 61Listed companies tracked
- 16Reports published
- 09 Oct 2026Latest update
Company directory
Matching reports
Banks
Private universal bank, part of the BBVA group.
Mortgage-focused bank with a nationwide retail network.
Private-capital domestic bank with a strong presence in the interior of the country.
Regional bank with a strong presence in Patagonia and Buenos Aires.
Financial group with retail and corporate banking and insurance.
Consumer
Gaming, telecom and technology services group.
Footwear manufacturer and retailer.
Kitchen stoves and home appliances manufacturer.
Supermarket chain in Patagonia.
Financial services
Operator of the Argentine stock exchange and market infrastructure.
Financial group with brokerage, asset management and banking activities.
Food & beverages
Premium confectionery, alfajores and coffee shop chain.
Agribusiness company with cattle and agriculture operations in Salta.
Sugar, paper, citrus and agribusiness conglomerate.
Grain and oilseed processor and exporter.
Packaged food producer with leading consumer brands.
Flour, pasta and food products producer.
Citrus producer and exporter in northwest Argentina.
Flour and food products producer.
Gas transport & distribution
Natural gas distributor in the Pampas region.
Natural gas distributor in the Cuyo region.
Natural gas distributor in the center of the country.
Natural gas distributor in northern Greater Buenos Aires.
Natural gas distributor in the city of Buenos Aires and its surroundings.
Natural gas transporter for the northern and central system.
Major gas transporter with a natural gas liquids business.
Electricity transmission & distribution
Electricity distributor for northern Buenos Aires and the AMBA region.
Operator of the national high-voltage electricity transmission network.
Health
Pharmaceutical laboratory.
Veterinary vaccines and animal health products.
Holdings & investment
Diversified holding with interests in infrastructure, energy and real estate.
Industrials & machinery
Precision seed drill manufacturer, leader in Argentine planting equipment.
Domestic stoves and kitchen appliances manufacturer.
Sanitaryware and bathroom products manufacturer.
Wood-based panels and boards manufacturer.
Electronics and air-conditioning manufacturer based in Tierra del Fuego.
Glass tableware and containers manufacturer.
Construction & infrastructure
Toll road concession on access routes to Buenos Aires.
Civil and industrial construction company.
Toll road concession on the western access to Buenos Aires.
Construction and real estate company.
Materials & metals
Primary aluminum producer and exporter, with integrated hydroelectric supply.
Petrochemical producer of benzene, toluene and derivatives.
Pulp and paper producer.
Cement, aggregates and concrete producer.
Cement and construction materials producer.
Flat and long steel producer, subsidiary of Ternium.
Oil & gas
Argentina's largest integrated oil and gas company.
Power generation
Thermal power generator and oil and gas producer in Neuquén.
Thermal power plant operator on the Río de la Plata.
Large private power generator: thermal, hydro and renewables.
Integrated energy company: generation, oil and gas, and petrochemicals.
Real estate & land
Land and agribusiness company with holdings in Argentina and Paraguay.
Agricultural land and agribusiness company, controlling shareholder of IRSA.
Real estate developer and asset manager.
Agricultural and real estate holding company.
Owner of shopping malls, offices and hotels in Argentina.
Telecom & media
Holding of Telecom Argentina, a main telecom and cable operator.
Media group with print, broadcast and digital assets.
Mobile, fixed, broadband and pay-TV operator.
No companies match these filters.
Latest reports
| Date | Ticker | Type | Report | Format | Size | Language | Access |
|---|---|---|---|---|---|---|---|
| GGAL | Note | Grupo Financiero Galicia – ROE vs Ke: what ROE is the market pricing in?At 1.04x book, the market prices in a long-term real ROE of about 12.6%, close to the 13.2% normalized level. | 538,8 KB | EN | Download — Grupo Financiero Galicia – ROE vs Ke: what ROE is the market pricing in? (PDF) | ||
| AGRO | Financial data | Agrometal - Outlooks workbook (Excel)Six outlooks generated from the AGRO financial database. | XLSX | 44,2 KB | EN / ES | Subscribers only — Agrometal - Outlooks workbook (Excel) | |
| AGRO | Initiation | Agrometal - Initiation of coverage (Word)Editable Word version of the initiation report, with the full financial tables. | DOCX | 1,2 MB | EN | Request access — Agrometal - Initiation of coverage (Word) | |
| AGRO | Initiation | Agrometal - Initiation of coverage: Sowing through the credit squeezeBuy (High Risk) with an ARS 64,0 target (82% upside). A record harvest but no bank credit for machinery; unlevered balance sheet, valued 70/30 on DCF and multiples. | 1,6 MB | EN | Download — Agrometal - Initiation of coverage: Sowing through the credit squeeze (PDF) | ||
| AGRO | Valuation model | Agrometal - Valuation report (Word, in Spanish)Editable Word version of the Spanish valuation report, with all tables and figures. | DOCX | 1,2 MB | ES | Request access — Agrometal - Valuation report (Word, in Spanish) |
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