Grupo Financiero Banorte - ADR

Grupo Financiero Banorte - ADR

GBOOY

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Market Cap$30.87B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Grupo Financiero Banorte - ADRGrupo Financiero Banorte - ADR9.59.07%19%0.10.7

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Strong Q2 and 1H results; guidance reaffirmed - Q2 net income: MXN 15.6bn, +1% sequentially; ROE 25.7% (+209 bps YoY) with ROA 2.3%. - 1H 2026 net income: MXN 31bn (+4% YoY) (already incorporating IPAB non-deductibility). - Management highlights: solid margins, continued loan growth, and disciplined expense management; full-year guidance reaffirmed with confidence in a more dynamic 2H.
Margins/NII: positive underlying trend, but annuities seasonality lowers reported NII - Net interest income (NII) expanding YoY for the group; however Q2 was affected by June’s very low inflation reducing margin contribution from inflation-linked securities. - Key offset: effect was neutral for net income because it was compensated by lower technical reserves (so investors should treat reported NII as having a temporary seasonal distortion). - Bank net interest margin reaches 6.9% (above guidance; guidance high-end ~6.8). Loan-to-deposit advantage cited as a key driver: NII loans-to-deposit growing ~13%.
Asset quality still within expectations; credit card delinquency up due to mix/seasonality, not assumed structural deterioration - Asset quality: NPL ratio ~1.5%; cost of risk down 29 bps sequentially, on track with annual guidance. - Investor question on credit cards: delinquency rise attributed mainly to rapid portfolio growth in prior years—new accounts have higher delinquency, raising the past-due ratio as they represent a larger share (vintages said to be stable). - Safeguards emphasized: disciplined underwriting, segmentation, AI/analytics + early warning, collections optimization, fraud prevention, governance/stress tests. - Expectation: delinquencies should continue evolving positively in Q3 and further into Q4, and there’s also mention that TDF portfolio inclusion can mechanically raise the delinquency/NPL base, plus seasonality (World Cup).

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$62.45

Current Fair Value

8% upside

Undervalued by 8% based on the discounted cash flow analysis.

Share Statistics

Market cap$30.87 Billion
Enterprise Value$111.85 Billion
Dividend Yield$4.91 (9.07%)
Earnings per Share$103.95
Beta0.15
Outstanding Shares618,321,400

Return

Return on Equity19.22%ROE
Return on Assets1.78%
Return on Invested Capital4.97%

Valuation & Multiples

P/E Ratio9.5P/E Ratio
PEG-0.39PEG
Price to Sales0.1Price to Sales
Price to Book Ratio0.14Price to Book Ratio
Enterprise Value to Revenue0.32
Enterprise Value to EBIT1.66
Enterprise Value to Net Income2
Total Debt to Enterprise1.55
Debt to Equity0.7Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 28, 2026
EPS Estimate
$1.58
Average shareholder expectation
Revenue Estimate
$2.22 B
Average shareholder expectation

Next Earnings Call

Expected Date
November 4, 2026
EPS Estimate
$1.61
Average shareholder expectation
Revenue Estimate
$2.32 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.00000%
Total Calls-
Total Puts-

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %0.00%▼ 0.05%
Total Invested$1.52M▼ 91.48%
Investors Holding4▼ 8.00%

ESG Score

No data

About Grupo Financiero Banorte

CEO: Jose Marcos Ramirez Miguel

Relevant Senate Committees

Joint Committee on Taxation

This committee's analyses and revenue estimates directly shape tax legislation, influencing corporate tax structures, investment incentives, and the overall tax burden on financial institutions.

Finance

As the primary committee for taxation and trade, it directly impacts corporate valuations, profitability through tax policy, and international trade relations crucial for a foreign financial group.

Appropriations

By allocating federal spending, this committee directly influences cash flows for various sectors and government programs, significantly impacting the broader economy and demand for financial services.

Agriculture, Nutrition, and Forestry

Its oversight of the CFTC and regulation of derivatives/futures markets, including potential classification of cryptocurrencies as commodities, directly impacts core financial services and trading activities.

Banking, Housing, and Urban Affairs

This is the primary regulatory committee for the financial system, directly impacting bank capital requirements, cryptocurrency regulation, and real estate markets, which are core to a commercial banking group.

Budget

By drafting the budget resolution, this committee influences the macroeconomic environment, sovereign debt levels, and overall fiscal policy, which are fundamental drivers for all financial institutions.

Foreign Relations

As a foreign financial group, Banorte is directly impacted by U.S. foreign policy, sanctions legislation, and international banking access, all governed by this committee.