NYSE : BMA
Banco Macro S.A. — Financial statements
Financials · Banks - Regional · Argentina
Last price 60.15 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.14B
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Financial statements
Income statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 5.33T | 5.01T | 4.64T | 7.01T | 1.91T | 439.13B |
| Total Interest Income | 5.33T | 5.01T | 4.64T | 7.01T | 1.91T | 439.13B |
| Interest Paid on Deposits | 1.93T | 1.93T | 2.51T | 4.64T | 956.46B | 183.87B |
| Total Interest Expense | 1.93T | 1.93T | 2.51T | 4.64T | 956.46B | 183.87B |
| Net Interest Income | 3.40T | 3.08T | 2.13T | 2.36T | 950.81B | 255.25B |
| Gain (Loss) on Sale of Assets | -5.37B | -5.11B | -15.10B | -3.96B | -1.69B | -64.03M |
| Gain (Loss) on Sale of Investments | 492.56B | 453.40B | 2.96T | 2.76T | ||
| Other Non-Interest Income | 1.13T | 1.08T | 1.10T | 3.16T | 620.59B | 122.37B |
| Total Non-Interest Income | 1.62T | 1.53T | 4.04T | 5.91T | 618.90B | 122.30B |
| Revenues Before Loan Losses | 5.02T | 4.60T | 6.17T | 8.28T | 1.57T | 377.56B |
| Provision for Loan Losses | 756.66B | 538.42B | 142.21B | 131.68B | 20.42B | 5.06B |
| Revenue | 4.26T | 4.06T | 6.03T | 8.15T | 1.55T | 372.50B |
| Salaries and Employee Benefits | 750.82B | 725.03B | 769.34B | 661.39B | 241.77B | 64.31B |
| Occupancy Expenses | 173.37B | 178.82B | 181.72B | 166.43B | 47.49B | 13.88B |
| Selling, General & Administrative | 396.58B | 391.56B | 414.67B | 418.03B | 101.95B | 33.43B |
| Other Non-Interest Expense | 2.17T | 2.13T | 4.16T | 4.83T | 962.26B | 214.01B |
| Total Non-Interest Expense | 3.51T | 3.42T | 5.53T | 5.64T | 1.35T | 325.46B |
| EBT Excluding Unusual Items | 752.09B | 641.19B | 500.41B | 2.50T | 195.46B | 47.04B |
| Asset Writedown | 386.38M | 386.38M | 1.31B | 980.66M | 528.23M | |
| Other Unusual Items | -47.51B | -47.51B | -28.12B | -26.27B | -1.36B | -174.48M |
| Pretax Income | 622.02B | 511.12B | 473.59B | 2.48T | 194.63B | 46.87B |
| Income Tax Expense | 239.73B | 220.42B | 44.10B | 808.75B | 60.58B | 2.31B |
| Earnings From Continuing Operations | 382.28B | 290.71B | 429.50B | 1.67T | 134.05B | 44.56B |
| Minority Interest in Earnings | 462.69M | -1.21B | -1.30B | -1.00B | -22.06M | -1.46M |
| Net Income | 382.75B | 289.49B | 428.19B | 1.67T | 134.03B | 44.55B |
| Net Income to Common | 382.75B | 289.49B | 428.19B | 1.67T | 134.03B | 44.55B |
| Basic Shares Outstanding | 639.40M | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M |
| Diluted Shares Outstanding | 639.40M | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M |
| EPS (Basic) | 598.61 | 452.75 | 669.67 | 2,607.59 | 209.61 | 69.68 |
| EPS (Diluted) | 598.61 | 452.75 | 669.67 | 2,607.59 | 209.61 | 69.68 |
| Dividend Per Share | 491.07 | 628.29 | 117.36 | 22.18 | ||
| Effective Tax Rate | 38.54% | 43.12% | 9.31% | 32.65% | 31.13% | 4.93% |
Balance sheet
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.89T | 1.47T | 1.30T | 1.89T | 1.89T | 396.00B |
| Investment Securities | 5.32T | 4.51T | 4.09T | 2.25T | 953.32B | 356.20B |
| Trading Asset Securities | 1.34T | 980.27B | 1.01T | 3.56T | 659.99B | 70.48B |
| Total Investments | 6.66T | 5.49T | 5.10T | 5.81T | 1.61T | 426.69B |
| Gross Loans | 12.40T | 11.27T | 7.83T | 4.10T | 1.90T | 704.09B |
| Allowance for Loan Losses | -720.26B | -507.53B | -162.27B | -116.83B | -34.26B | -18.76B |
| Other Adjustments to Gross Loans | -63.21B | -46.82B | ||||
| Net Loans | 11.68T | 10.70T | 7.63T | 3.98T | 1.86T | 685.33B |
| Property, Plant & Equipment | 1.19T | 234.73B | 223.58B | 157.03B | 56.03B | 19.01B |
| Other Intangible Assets | 204.56B | 182.85B | 194.00B | 163.69B | 54.31B | 16.37B |
| Investments in Real Estate | 109.92B | 905.31B | 903.02B | 683.11B | 288.24B | 85.67B |
| Other Receivables | 712.93B | 680.51B | 768.28B | 381.68B | 165.21B | 64.31B |
| Restricted Cash | 2.78T | 3.05T | 2.47T | 1.12T | 446.95B | 207.73B |
| Other Current Assets | 165.82B | 141.65B | 144.31B | 147.33B | 38.72B | 8.79B |
| Long-Term Deferred Tax Assets | 83.71B | 23.10B | 2.96B | 2.17B | 229.10M | 93.09M |
| Other Long-Term Assets | 282.94B | 358.36B | 332.32B | 290.68B | 97.12B | 36.58B |
| Total Assets | 25.76T | 23.24T | 19.06T | 14.63T | 6.51T | 1.95T |
| Accrued Expenses | 312.34B | 271.43B | 253.63B | 229.46B | 61.92B | 19.69B |
| Interest Bearing Deposits | 14.74T | 13.69T | 11.08T | 7.34T | 4.03T | 1.15T |
| Total Deposits | 14.74T | 13.69T | 11.08T | 7.34T | 4.03T | 1.15T |
| Short-Term Borrowings | 57.92B | 498.73M | 26.68B | 57.57B | 7.38M | 4.93M |
| Current Portion of Long-Term Debt | 268.85B | 742.39B | 84.53B | 171.86B | 12.07B | 8.45B |
| Current Portion of Leases | 9.47B | 8.38B | 7.69B | 2.73B | 1.08B | |
| Current Income Taxes Payable | 285.52B | 304.66B | 24.97B | 465.76B | 33.79B | 684.30M |
| Other Current Liabilities | 1.99T | 1.94T | 1.32T | 866.59B | 449.17B | 190.68B |
| Long-Term Debt | 1.36T | 756.47B | 541.56B | 714.20B | 228.63B | 79.99B |
| Long-Term Leases | 17.48B | 9.67B | 10.02B | 12.75B | 3.39B | 1.68B |
| Pension & Post-Retirement Benefits | 824.01M | |||||
| Long-Term Deferred Tax Liabilities | 2.00B | 1.18B | 105.43B | 99.61B | 41.35B | 12.17B |
| Other Long-Term Liabilities | 423.87B | 283.39B | 277.96B | 226.10B | 46.87B | 17.46B |
| Total Liabilities | 19.46T | 18.00T | 13.74T | 10.19T | 4.91T | 1.48T |
| Common Stock | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M |
| Additional Paid-In Capital | 12.43B | 12.43B | 12.43B | 12.43B | 12.43B | 12.43B |
| Retained Earnings | 4.36T | 3.57T | 3.68T | 3.09T | 1.02T | 274.75B |
| Comprehensive Income & Other | 1.92T | 1.65T | 1.64T | 1.34T | 567.37B | 178.90B |
| Total Common Equity | 6.29T | 5.23T | 5.33T | 4.44T | 1.60T | 466.72B |
| Minority Interest | 3.18B | 3.03B | 2.14B | 1.01B | 263.74M | 73.79M |
| Shareholders' Equity | 6.29T | 5.23T | 5.33T | 4.44T | 1.60T | 466.80B |
| Total Liabilities & Equity | 25.76T | 23.24T | 19.06T | 14.63T | 6.51T | 1.95T |
| Total Debt | 1.71T | 1.52T | 671.17B | 964.08B | 246.83B | 91.21B |
| Net Cash (Debt) | 1.65T | 1.12T | 1.64T | 5.83T | 2.49T | 436.44B |
| Net Cash Per Share | 2,585.54 | 1,746.23 | 2,570.08 | 9,113.98 | 3,901.06 | 682.57 |
| Filing Date Shares Outstanding | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M |
| Total Common Shares Outstanding | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M | 639.41M |
| Book Value Per Share | 9,839.35 | 8,181.75 | 8,330.32 | 6,943.75 | 2,495.54 | 729.92 |
| Tangible Book Value | 6.09T | 5.05T | 5.13T | 4.28T | 1.54T | 450.35B |
| Tangible Book Value Per Share | 9,519.44 | 7,895.78 | 8,026.91 | 6,687.74 | 2,410.61 | 704.32 |
Cash flow statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 382.75B | 289.49B | 428.19B | 1.67T | 134.03B | 44.55B |
| Depreciation & Amortization | 173.37B | 178.82B | 181.72B | 166.43B | 47.49B | 13.88B |
| Provision for Credit Losses | 756.66B | 538.42B | 142.21B | 131.68B | 20.42B | 5.06B |
| Change in Trading Asset Securities | -377.28B | -82.51B | 6.14T | -2.58T | -450.21B | 109.43B |
| Change in Other Net Operating Assets | 439.30B | -3.61T | -6.31T | 849.52B | 442.03B | 34.07B |
| Other Operating Activities | 516.32B | 627.43B | 623.93B | 3.34T | 956.50B | 170.26B |
| Operating Cash Flow | 1.89T | -2.06T | 1.21T | 3.57T | 1.15T | 377.25B |
| Capital Expenditures | -141.87B | -171.95B | -163.80B | -163.49B | -75.75B | -13.43B |
| Cash Acquisitions | -11.22B | -62.90B | -69.45M | |||
| Other Investing Activities | -851.47M | 459.35B | -11.89M | |||
| Investing Cash Flow | -141.87B | -171.95B | -175.87B | 232.96B | -75.77B | -13.50B |
| Long-Term Debt Issued | 805.82B | 84.44B | 15.27B | |||
| Total Debt Issued | 827.18B | 805.82B | 84.44B | 15.27B | ||
| Long-Term Debt Repaid | -100.66B | -153.57B | -72.82B | -30.36B | -15.38B | |
| Net Debt Issued (Repaid) | 143.33B | 705.16B | -153.57B | 11.63B | -15.09B | -15.38B |
| Repurchase of Common Stock | -180.98M | -180.98M | ||||
| Common Dividends Paid | -245.28B | -155.51B | -614.25B | -514.74M | -59.46B | |
| Net Increase (Decrease) in Deposit Accounts | 124.02B | 2.61T | 1.43T | -3.82T | 461.99B | -289.98B |
| Other Financing Activities | -16.17B | -15.36B | -10.98B | -11.27B | -3.23B | -1.52B |
| Financing Cash Flow | 5.71B | 3.14T | 646.59B | -3.82T | 384.20B | -306.88B |
| Foreign Exchange Rate Adjustments | 501.37B | 784.71B | 481.37B | 2.60T | 393.37B | 52.77B |
| Net Cash Flow | 1.06T | 751.93B | -199.12B | -2.72T | 455.28B | -171.34B |
| Free Cash Flow | 1.75T | -2.23T | 1.04T | 3.41T | 1.07T | 363.82B |
| Free Cash Flow Margin | 41.08% | -54.81% | 17.33% | 41.87% | 69.36% | 97.67% |
| Free Cash Flow Per Share | 2,735.78 | -3,483.56 | 1,633.68 | 5,334.08 | 1,680.46 | 568.99 |
| Cash Income Tax Paid | 140.26B | 43.62B | 423.86B | 76.04B | 8.38B | 21.55B |
Ratios
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.06B | 5.94B | 7.08B | 2.08B | 2.02B | 1.78B |
| Last Close Price | 60.15 | 86.97 | 90.20 | 23.88 | 12.47 | 9.84 |
| PE Ratio | 15.23 | 29.80 | 17.05 | 1.01 | 2.67 | 4.11 |
| PS Ratio | 1.44 | 2.12 | 1.21 | 0.21 | 0.23 | 0.49 |
| PB Ratio | 0.97 | 1.65 | 1.37 | 0.38 | 0.22 | 0.39 |
| P/FCF Ratio | 3.66 | 6.99 | 0.49 | 0.33 | 0.50 | |
| P/OCF Ratio | 3.38 | 6.04 | 0.47 | 0.31 | 0.48 | |
| Debt / Equity Ratio | 0.27 | 0.29 | 0.13 | 0.22 | 0.15 | 0.20 |
| Debt / FCF Ratio | 0.97 | 0.64 | 0.28 | 0.23 | 0.25 | |
| Net Debt / Equity Ratio | -0.26 | -0.21 | -0.31 | -1.31 | -1.56 | -0.94 |
| Net Debt / FCF Ratio | -0.94 | 0.50 | -1.57 | -1.71 | -2.32 | -1.20 |
| Return on Equity (ROE) | 7.07% | 5.50% | 8.79% | 55.27% | 13.00% | 12.91% |
| Return on Assets (ROA) | 1.73% | 1.37% | 2.55% | 15.78% | 3.17% | 2.87% |
| Earnings Yield | 6.57% | 3.36% | 5.87% | 99.12% | 37.50% | 24.35% |
| FCF Yield | 27.36% | -25.82% | 14.31% | 202.76% | 300.64% | 198.83% |
| Dividend Yield | 6.21% | 4.30% | 23.88% | 21.00% | 7.75% | |
| Payout Ratio | 93.98% | 53.72% | 143.45% | 0.03% | 44.37% | |
| Buyback Yield / Dilution | 0.00% | 0.00% | ||||
| Total Shareholder Return | 6.19% | 0.00% | 4.30% | 23.88% | 21.00% | 7.75% |