Grupo Financiero Banorte (GFNORTEO.MX)

Financials · BMV · Mexico

Mex$180.39-5.03% today

Fundamentals

Market capMex$518.08B

P/E ratio8.6

Dividend yield9.40%

Revenue growth (YoY)+4.1%

Profit margin41.8%

Return on equity23.5%

52-week rangeMex$155.50 to Mex$210.00

Next earnings2026-07-21

Valuation and ratings

DCF fair valueMex$183.77

Upside to fair value+1.9%

Analyst target (mean)Mex$220.87

Analyst rangeMex$190.00 to Mex$248.00

Analysts covering15

Consensus viewbuy

Moat score58/100

Overall rating58/100, Buy

Grupo Financiero Banorte trades at Mex$180.39, close to the Mex$183.77 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.

Our moat model scores it 58 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 8.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About Grupo Financiero Banorte

Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally. It offers retail banking services, including checking and deposit accounts; credit and debit cards; mortgage, car, payroll, and personal loans; SME loans; payroll accounts; and car, home, life, and SME insurance. The company also provides wholesale banking services, such as structured loans, syndicated loans, leveraged acquisitions, investment planning, and cash management of collections, trust services, payroll, checking accounts, and credit lines; online banking, collections and payments, acquirer services, payroll, cash management and reconciliation services, currency trading, excess cash and liquidity management, and hedging and insurance; and import-export letters of credit, documentary collections, bank guarantees, standby letters of credit, letter of credit financing, import-export foreign trade financing, foreign trade structured financing, discounted import bills of exchange, import bank guarantees, international wire transfers, and remittances. In addition, it offers checking solutions, including current investment and debit accounts; financial solutions comprising SME loans and commercial credit cards; technological solutions, such as online banking, PST, and payroll; and commercial insurance solutions that consist of auto, home, and employee insurance. The company was founded in 1899 and is based in Mexico City, Mexico.

Industry: Banks - RegionalEmployees: 35,176HQ: Mexico

GFNORTEO.MX passes 6 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Deep value, with a pulse

A very low earnings multiple is usually a warning. This screen demands a low multiple AND evidence the business still works.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

High return on equity, low debt

A high ROE is easy to fake with borrowing. This screen demands the return without the leverage, which is a much shorter list.

Fortress balance sheets

Companies that owe almost nothing. They will survive things that kill their competitors, and they can buy the wreckage afterwards.

High margin machines

Companies that keep an unusually large share of every pound they sell. That is pricing power made visible.

Low volatility defensives

Companies that move less than the market and pay you to wait. The holdings that let you sleep, and let you hold everything else.

Common questions

Is Grupo Financiero Banorte (GFNORTEO.MX) undervalued?

Against our discounted cash flow estimate of Mex$183.77, GFNORTEO.MX at Mex$180.39 is 2% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is GFNORTEO.MX's P/E ratio?

GFNORTEO.MX trades at 8.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

The full research page for GFNORTEO.MX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.

Open GFNORTEO.MX in the app Free guides and screens

Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.