Banco Patagonia (BPAT) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Banco Patagonia ARS 1,319, price ARS 1,810, upside -27.1%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 58.56 ARS – 3,210 ARS · the 1,810 ARS price screens above the 1,319 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Banco Patagonia S.A. provides various banking products and services in Argentina. It offers savings, retired, salary, current, agro, and minor accounts; accounts for SMEs; and foreign trade services. The company also provides Patagonia leasing, capital marketing, and alternative financing services.
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Banco Patagonia S.A. provides various banking products and services in Argentina. It offers savings, retired, salary, current, agro, and minor accounts; accounts for SMEs; and foreign trade services. The company also provides Patagonia leasing, capital marketing, and alternative financing services. In addition, it offers loans; safe deposit boxes; credit and debit cards; and home, car, motorbike, mobility, ATM robbery, protected belongings, smartphone, pets, personal accidents, life, health, burial, and rental bond insurance products. Further, the company offers financial agency services; mobile banking services; business cards; investments for fixed-term, mutual funds, and financial trusts; and collection, payment, inter-banking, and AFIP services. It serves individuals, businesses, professionals, SMEs, agro-business clients, the public sector, and institutional clients. The company was incorporated in 1928 and is based in Buenos Aires, Argentina. Banco Patagonia S.A. is a subsidiary of Banco do Brasil S.A.
Stock analysis
Banco Patagonia (BPAT) currently trades at 1,810 ARS, while our model-based Fair Value estimate is 1,319 ARS, implying the stock looks roughly 37.2% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 2,037 ARS per share, and 3 of the 4 models we run sit above the 1,810 ARS price.
Bear case: the Asset-Based group reads lowest at 1,594 ARS, and 1 of the 4 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Banco Patagonia reported revenue of 1.3T ARS in FY2025 versus 71.5B ARS in FY2021, a compound +107.1%/yr. Reported net income was 109B ARS in FY2025, compounding +98.6%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 1.6T ARS (≈ $1.1B) · P/E ratio 20.7 · P/S ratio 1.72 · EPS (TTM) 108.05 ARS · Net margin 8.3% · Return on equity 4.7% · Return on assets (EBIT) 6.8% · Operating margin 9.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 47% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −38% fair-value upside, at −27%, BPAT screens cheaper than that median.
Fair Value models
Bear 1,319 ARSFair Value 1,319 ARSBull 1,319 ARS
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (79.04 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.Evidence ⓘEvidence = 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.
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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−37.9%
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.
+92.5%
Revenue growth 5 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.
+91.6%
Start year 2020 (pandemic). Over 10 years: +68.0% a year
Revenue growth 10 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.
+68.0%
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What shareholders gained per year (last 5 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 5 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.
+59.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+59.8%
Dividend (yield on the price)0.0%
Profit margin 2015 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.54% → 55%
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Banks - Regional · 1074 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−20% · Below median
Profitability
Return on equity (TTM)5% · Bottom 25%
Return on assets1% · Below median
Net margin (TTM)6% · Bottom 25%
Operating margin (TTM)9% · Bottom 25%
Growth and dividend
Revenue growth22% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
P/E (TTM)20.7× · Priciest 25%
P/B0.97× · Cheaper than median
P/S (TTM)1.30× · Cheapest 25%
P/FCF0.0× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 11
FUTURE (revenue growth)100· sector 45
PAST (return on equity)19· sector 41
HEALTH (low debt)100· sector 85
DIVIDEND (yield)0· sector 53
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Banco Patagonia Fair Value". https://www.fairvalue-calculator.com/stock/BPAT
Frequently asked questions
Is Banco Patagonia (BPAT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,319 ARS versus a price of 1,810 ARS, about −27% upside (overvalued).
What is the fair value of BPAT?
Our model-based fair value for Banco Patagonia is 1,319 ARS (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,810 ARS.
What is the quality score of BPAT?
Banco Patagonia has a Quality Score of 48/100. 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 Banco Patagonia (BPAT)?
Our model-based price target is the fair value of 1,319 ARS (as of Sep 24, 2026) from 4 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Banco Patagonia stock forecast for 2026?
Our models put fair value at 1,319 ARS, about −27% upside versus a price of 1,810 ARS (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Banco Patagonia (BPAT)?
Banco Patagonia reported trailing-twelve-month revenue of about 1.2T ARS (latest available figure, as of Sep 24, 2026).
What growth is priced into Banco Patagonia (BPAT)?
For today's price to be fair in a discounted-cash-flow model, Banco Patagonia would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 19.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +91.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BPAT use?
Our models discount Banco Patagonia at 19.2 %: a base by market capitalisation (small), damped by beta 0.21, 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 Banco Patagonia that is less than minus 40 % per year a year over ten years, using the same discount rate (19.2 %) and the same formula as our fair value.
How much growth has Banco Patagonia (BPAT) delivered so far?
Over the past 5 years revenue at Banco Patagonia grew +91.6 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a 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 Banco Patagonia (BPAT) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Banco Patagonia (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Banco Patagonia (BPAT)?
The free-cash-flow yield on the price is 41.52 %: that much free cash flow Banco Patagonia produces per unit of market value. When it exceeds the discount rate of our models (19.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Banco Patagonia (BPAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Banco Patagonia it is 1,319 ARS per share (as of Sep 24, 2026), against a price of 1,810 ARS. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Banco Patagonia stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BPAT trades above its calculated fair value: price 1,810 ARS, fair value 1,319 ARS, a gap of about −27% (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 BPAT?
No. The price is what the market pays today (1,810 ARS); the fair value is what the company's own numbers justify (1,319 ARS). For Banco Patagonia the two are 491.27 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is Banco Patagonia worth?
The market values Banco Patagonia at about 1.6T ARS (market capitalisation, as of Sep 24, 2026). Per share that is 1,810 ARS; our models calculate a fair value of 1,319 ARS per share.
What is the P/E ratio of BPAT?
Banco Patagonia trades at a price-to-earnings ratio of 20.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,319 ARS is built from several models across several years. Other multiples: P/B 1.0, P/S 1.3.
How solid is the balance sheet of Banco Patagonia (BPAT)?
Balance-sheet figures for Banco Patagonia (as of Sep 24, 2026): return on equity 4.7%, debt of 0.00 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is BPAT from its 52-week high?
Banco Patagonia trades at 1,810 ARS, about 39% below its 52-week high of 2,960 ARS and 47% above the low of 1,230 ARS (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,319 ARS is for.
Which stocks are comparable to Banco Patagonia?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Banco Patagonia stock attractive at the current price?
The data as of Sep 24, 2026: price 1,810 ARS, calculated fair value 1,319 ARS (−27%), Quality Score 48/100, from 4 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 BPAT calculated?
We run Banco Patagonia through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1,319 ARS, 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 14.1 % above its aggregate fair value. Banco Patagonia 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 Banco Patagonia (BPAT)?
The closing price on Sep 23, 2026 was 1,810 ARS. Our model-based fair value is 1,319 ARS, about −27% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Banco Patagonia right now?
The price sits above even our optimistic bull case (1,319 ARS). The favourable scenario is already priced in. Solid but not exceptional quality (48/100) 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 Banco Patagonia
How large is the market capitalisation of Banco Patagonia (BPAT)?
The market capitalisation of Banco Patagonia is 1.6T ARS (≈ $1.1B). 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 Banco Patagonia (BPAT)?
The price-to-sales ratio of Banco Patagonia is 1.72 (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 Banco Patagonia (BPAT)?
Earnings per share at Banco Patagonia are 108.05 ARS (price ÷ EPS = P/E 20.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Banco Patagonia (BPAT)?
The net margin of Banco Patagonia is 8.3% (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 Banco Patagonia (BPAT)?
The return on equity (ROE) of Banco Patagonia is 4.7% (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 Banco Patagonia (BPAT)?
On an EBIT basis the return on assets of Banco Patagonia is 6.8% (avg 5y). 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 Banco Patagonia (BPAT)?
The operating margin of Banco Patagonia is 9.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Banco Patagonia (BPAT)?
Revenue at Banco Patagonia is growing +21.9% versus a year earlier (3y avg +92.5%). 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 Banco Patagonia (BPAT)?
Earnings per share at Banco Patagonia are growing −50.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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