A3 Mercados S.A. (A3) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of A3 Mercados S.A. stock ARS 1,980, price ARS 2,570, that is 22.9% below the price, quality 55 out of 100. Rating: overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 12.59 ARS – 3,460 ARS · fair‑value band 942.62 ARS – 2,565 ARS · the 2,570 ARS price screens above the 1,980 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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A3 Mercados S.A. operates as a market for negotiable securities in Argentina and internationally. It offers financial and agricultural instruments, including spot, derivatives, and OTC transactions; guaranteed spot PPT; over the counter registration A3; and surety rate futures.
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The company also provides primary placements, secondary spot trading, and foreign exchange market; and FCI market and warrants, as well as futures and options for financial, agricultural, metals, and energy.
In addition, it offers compensation and liquidation of contracts; and software programs services. A3 Mercados S.A. is based in Rosario, Argentina.
Stock analysis
A3 Mercados S.A. (A3) currently trades at 2,570 ARS, while our model-based Fair Value estimate is 1,980 ARS, 23% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 3,019 ARS per share, and 1 of the 13 models we run sit above the 2,570 ARS price.
Bear case: the Asset-Based group reads lowest at 615.79 ARS, and 12 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 942.62 ARS (bear) to 2,565 ARS (bull), the price of 2,570 ARS sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 55/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
A3 Mercados S.A. reported revenue of 95.4B ARS in FY2025 versus 12.1B ARS in FY2022, a compound +99.0%/yr. Reported net income was 21.4B ARS in FY2025, compounding +100.0%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 630B ARS (≈ $408M) Small · P/E ratio 73.0 · P/S ratio 16.4 · EPS (TTM) 35.22 ARS · Net margin 22.5% · Return on equity 11.1% · Return on assets (EBIT) 5.6% (4-year average) · Operating margin 40.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −34% fair-value upside, at −23%, A3 screens cheaper than that median.
Fair Value models
Bear942.62 ARSFair Value 1,980 ARSBull2,565 ARS
Price 2,570 ARS · Downside -22.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (35.22 ARS per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Growth DCF1,904 ARS2,330 ARS3,017 ARS76
Owner Earnings1,394 ARS1,824 ARS2,453 ARS74
Residual Income1,109 ARS1,174 ARS1,266 ARS73
All 13 models by family
DCF Models
Owner Earnings1,394 ARS1,824 ARS2,453 ARS74
5Y P/E Exit1,727 ARS2,442 ARS3,320 ARS68
10Y P/E Exit1,810 ARS2,410 ARS3,344 ARS61
Earnings-Based
Graham-Dodd593.13 ARS4,136 ARS5,805 ARS60
Lynch FV1,331 ARS1,902 ARS2,472 ARS58
Dividend Discount
Gordon GGM806.76 ARS1,107 ARS1,264 ARS67
DDM Multi-Stage806.76 ARS1,144 ARS1,202 ARS65
Multiples
P/E Multiple850.45 ARS1,134 ARS1,417 ARS63
P/B Multiple696.69 ARS928.92 ARS1,161 ARS55
Asset-Based
NCAV (Graham)406.42 ARS615.79 ARS769.73 ARS54
Growth DCF
Growth DCF1,904 ARS2,330 ARS3,017 ARS76
Rev-Margin DCF1,610 ARS2,153 ARS2,955 ARS70
Economic Profit
Residual Income1,109 ARS1,174 ARS1,266 ARS73
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+28.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+99.0%
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in ARS ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in ARS: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.5%
Dividend (yield on the price)0.0%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Argentina: IMF forecast 13.8% a year to 2030) that is about +0.5% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Financial Data & Stock Exchanges · 48 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score55 · Bottom 25%
Fair Value upside−22.9% · Above median
Profitability
Return on equity (12 months)11.1% · Bottom 25%
Return on assets3.0% · Below median
Net margin (12 months)41.5% · Top 25%
Operating margin (12 months)40.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−9.9% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Financial Data & Stock Exchanges median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is A3 Mercados S.A. (A3) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 1,980 ARS versus a price of 2,570 ARS, about 23% lower (overvalued).
What is the fair value of A3?
Our model-based fair value for A3 Mercados S.A. is 1,980 ARS (as of Nov 7, 2026), built from audited fundamentals. The current price: 2,570 ARS.
What is the quality score of A3?
A3 Mercados S.A. has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for A3 Mercados S.A. (A3)?
Our model-based price target is the fair value of 1,980 ARS (as of Nov 7, 2026) from 13 valuation models. Cautious scenario 942.62 ARS, optimistic scenario 2,565 ARS. It is a calculation from audited fundamentals, not an analyst target.
What is the A3 Mercados S.A. stock forecast for 2026?
Our models put fair value at 1,980 ARS, about 23% lower versus a price of 2,570 ARS (overvalued). Cautious scenario 942.62 ARS, optimistic scenario 2,565 ARS. The calculation is refreshed regularly with new filings.
What is the revenue of A3 Mercados S.A. (A3)?
A3 Mercados S.A. reported trailing-twelve-month revenue of about 241B ARS (latest available figure, as of Nov 7, 2026).
What growth is priced into A3 Mercados S.A. (A3)?
For today's price to be fair in a discounted-cash-flow model, A3 Mercados S.A. would have to grow free cash flow by +14.4 % per year for five years (discount rate 20.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +99.0 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of A3 use?
Our models discount A3 Mercados S.A. at 20.7 %: a base by market capitalisation (small), country premium for Argentina. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For A3 Mercados S.A. that is +14.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (20.7 %) and the same formula as our fair value.
How much growth has A3 Mercados S.A. (A3) delivered so far?
Over the past 3 years revenue at A3 Mercados S.A. grew +99.0 % a year. The price currently implies free-cash-flow growth of +14.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of A3 Mercados S.A. (A3) growing?
The median revenue growth in the sector is +6.0 % a year. That is the yardstick for the growth priced into A3 Mercados S.A. (+14.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of A3 Mercados S.A. (A3)?
The free-cash-flow yield on the price is 7.69 %: that much free cash flow A3 Mercados S.A. produces per unit of market value. When it exceeds the discount rate of our models (20.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of A3 Mercados S.A. (A3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For A3 Mercados S.A. it is 1,980 ARS per share (as of Nov 7, 2026), against a price of 2,570 ARS. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is A3 Mercados S.A. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, A3 trades above its calculated fair value: price 2,570 ARS, fair value 1,980 ARS, a gap of about −23% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of A3?
No. The price is what the market pays today (2,570 ARS); the fair value is what the company's own numbers justify (1,980 ARS). For A3 Mercados S.A. the two are 589.63 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is A3 Mercados S.A. worth?
The market values A3 Mercados S.A. at about 630B ARS (market capitalisation, as of Nov 7, 2026). Per share that is 2,570 ARS; our models calculate a fair value of 1,980 ARS per share.
What do the bullish and bearish scenarios say about A3?
Our models span a range for A3 Mercados S.A.: cautious scenario 942.62 ARS, base 1,980 ARS, optimistic 2,565 ARS per share (as of Nov 7, 2026, price 2,570 ARS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A3?
A3 Mercados S.A. trades at a price-to-earnings ratio of 73.0 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,980 ARS is built from several models across several years.
How solid is the balance sheet of A3 Mercados S.A. (A3)?
Balance-sheet figures for A3 Mercados S.A. (as of Nov 7, 2026): return on equity 11.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is A3 from its 52-week high?
A3 Mercados S.A. trades at 2,570 ARS, about 26% below its 52-week high of 3,460 ARS and 23% above the low of 2,093 ARS (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,980 ARS is for.
Which stocks are comparable to A3 Mercados S.A.?
From the same area (Financial Services) we also value S&P Global Inc, CME Group, Intercontinental Exchange, Inc, Moody's Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is A3 Mercados S.A. stock attractive at the current price?
The data as of Nov 7, 2026: price 2,570 ARS, calculated fair value 1,980 ARS (−23%), Quality Score 55/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of A3 calculated?
We run A3 Mercados S.A. through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 1,980 ARS builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. A3 Mercados S.A. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of A3 Mercados S.A. (A3)?
The closing price on Nov 6, 2026 was 2,570 ARS. Our model-based fair value is 1,980 ARS, about 23% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with A3 Mercados S.A. right now?
The model range is unusually wide (942.62 ARS to 2,565 ARS). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of A3 Mercados S.A.
How large is the market capitalisation of A3 Mercados S.A. (A3)?
The market capitalisation of A3 Mercados S.A. is 630B ARS (≈ $408M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of A3 Mercados S.A. (A3)?
The price-to-sales ratio of A3 Mercados S.A. is 16.4 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of A3 Mercados S.A. (A3)?
Earnings per share at A3 Mercados S.A. are 35.22 ARS (price ÷ EPS = P/E 73.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of A3 Mercados S.A. (A3)?
The net margin of A3 Mercados S.A. is 22.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of A3 Mercados S.A. (A3)?
The return on equity (ROE) of A3 Mercados S.A. is 11.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of A3 Mercados S.A. (A3)?
On an EBIT basis the return on assets of A3 Mercados S.A. is 5.6% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of A3 Mercados S.A. (A3)?
The operating margin of A3 Mercados S.A. is 40.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at A3 Mercados S.A. (A3)?
Revenue at A3 Mercados S.A. is growing −9.9% versus a year earlier (3y avg +99.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at A3 Mercados S.A. (A3)?
Earnings per share at A3 Mercados S.A. are growing −55.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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Some data
Nov 7, 2026