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Grupo Financiero Banorte, S.A. (GBOOF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Grupo Financiero Banorte, S.A. $9.17, price $10.27, upside -10.7%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Financial Services · US · ISIN MXP370711014

GF Grupo Financiero Banorte, S.A. logo Broad data Oct 3, 2026

Grupo Financiero Banorte, S.A.

GBOOF · US

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value $9.17 · Overvalued (−10.7%)
✓Quality 66/100
✓Healthy Growth (revenue 5y +11.5 %/yr)
✓Highly profitable · 41.8% net margin (TTM)
✓Low debt · generates free cash flow
·9.4% dividend yield · Safety not assessed
✓Wide moat 76/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$11.98 $2.98 Fair Value $9.17 Nov 2020 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range $2.98 – $11.98 · fair‑value band $7.75 – $15.04 · the $10.27 price screens above the $9.17 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

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.

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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.

Stock analysis

Grupo Financiero Banorte, S.A. (GBOOF) currently trades at $10.27, while our model-based Fair Value estimate is $9.17, 10.7% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Dividend Discount group reads highest at a median of $15.27 per share, and 3 of the 6 models we run sit above the $10.27 price.

Bear case: the Asset-Based group reads lowest at $3.31, and 3 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: $7.75 (bear) to $15.04 (bull), the price of $10.27 sits inside 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 66/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Grupo Financiero Banorte, S.A. reported revenue of 247B MXN in FY2025 versus 161B MXN in FY2021, a compound +11.4%/yr. Reported net income was 58.8B MXN in FY2025, compounding +13.8%/yr from FY2021.

Key figures

Market cap $31.2B · P/E ratio 8.2 · P/S ratio 1.94 · EPS (TTM) $1.26 · Dividend yield 9.4% · Net margin 23.8% · Return on equity 23.5% · Return on assets (EBIT) 0.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).

What moves the price

The share trades about 14% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at −11%, GBOOF screens cheaper than that median.

Fair Value models

Bear $7.75 Fair Value $9.17 Bull $15.04
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 ($0.9528 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. 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.
Highest evidence
Residual Income $7.21 $8.59 $13.37 72
Gordon GGM $8.71 $18.11 $28.72 64
DDM Multi-Stage $8.71 $15.27 $19.00 64
All 6 models by family
Dividend Discount
Gordon GGM $8.71 $18.11 $28.72 64
DDM Multi-Stage $8.71 $15.27 $19.00 64
Multiples
P/E Multiple $11.38 $15.18 $18.97 63
P/B Multiple $5.19 $6.93 $8.66 55
Asset-Based
NCAV (Graham) $2.47 $3.31 $4.95 54
Economic Profit
Residual Income $7.21 $8.59 $13.37 72

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Quality Score breakdown

Overall quality 66/100

Of which business quality 58 · Market factors (momentum, volatility) 48

Profitability 42
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 94
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 94/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.8%
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.
+11.3%
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.
+11.5%
Start year 2020 (pandemic). Over 10 years: +55.5% a year
Revenue growth 11 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.
+47.9%
What shareholders gained per year (last 5 years), in MXN ⓘ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 MXN: 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.
+21.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.7%
Dividend (yield on the price)9.4%
Profit margin 2014 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.41% → 0%

GBOOF screens overvalued: fair value 11% below the price. Compare with DBS Group →

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Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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BNP Paribas SA BNP €91.54 €105.99 +16%
HDFC Bank Limited HDFCBANK ₹721.20 ₹406.44 −44%
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CaixaBank, S.A CABK €12.03 €8.46 −30%

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$9.17 −11%Fair Value
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Cite: Fair Value Calculator (2026). "Grupo Financiero Banorte, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/GBOOF

Frequently asked questions

Is Grupo Financiero Banorte, S.A. (GBOOF) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of $9.17 versus a price of $10.27, about −11% upside (overvalued).
What is the fair value of GBOOF?
Our model-based fair value for Grupo Financiero Banorte, S.A. is $9.17 (as of Oct 3, 2026), built from audited fundamentals. The current price: $10.27.
What is the quality score of GBOOF?
Grupo Financiero Banorte, S.A. has a Quality Score of 66/100. 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 Grupo Financiero Banorte, S.A. (GBOOF)?
Our model-based price target is the fair value of $9.17 (as of Oct 3, 2026) from 6 valuation models. Cautious scenario $7.75, optimistic scenario $15.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Grupo Financiero Banorte, S.A. stock forecast for 2026?
Our models put fair value at $9.17, about −11% upside versus a price of $10.27 (overvalued). Cautious scenario $7.75, optimistic scenario $15.04. The calculation is refreshed regularly with new filings.
What is the revenue of Grupo Financiero Banorte, S.A. (GBOOF)?
Grupo Financiero Banorte, S.A. reported trailing-twelve-month revenue of about $141B (latest available figure, as of Oct 3, 2026).
Does Grupo Financiero Banorte, S.A. pay a dividend?
Grupo Financiero Banorte, S.A. currently shows a dividend yield of about 9.39% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Grupo Financiero Banorte, S.A. (GBOOF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Grupo Financiero Banorte, S.A. it is $9.17 per share (as of Oct 3, 2026), against a price of $10.27. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Grupo Financiero Banorte, S.A. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, GBOOF trades above its calculated fair value: price $10.27, fair value $9.17, a gap of about −11% (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 GBOOF?
No. The price is what the market pays today ($10.27); the fair value is what the company's own numbers justify ($9.17). For Grupo Financiero Banorte, S.A. the two are $1.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Grupo Financiero Banorte, S.A. worth?
The market values Grupo Financiero Banorte, S.A. at about $31.2B (market capitalisation, as of Oct 3, 2026). Per share that is $10.27; our models calculate a fair value of $9.17 per share.
What do the bullish and bearish scenarios say about GBOOF?
Our models span a range for Grupo Financiero Banorte, S.A.: cautious scenario $7.75, base $9.17, optimistic $15.04 per share (as of Oct 3, 2026, price $10.27). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is GBOOF from its 52-week high?
Grupo Financiero Banorte, S.A. trades at $10.27, about 14% below its 52-week high of $11.98 and 22% above the low of $8.43 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $9.17 is for.
Which stocks are comparable to Grupo Financiero Banorte, S.A.?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Mizuho Financial Group, 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 Grupo Financiero Banorte, S.A. stock attractive at the current price?
The data as of Oct 3, 2026: price $10.27, calculated fair value $9.17 (−11%), Quality Score 66/100, from 6 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 GBOOF calculated?
We run Grupo Financiero Banorte, S.A. through 6 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 $9.17, 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 14.5 % above its aggregate fair value. Grupo Financiero Banorte, 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 Grupo Financiero Banorte, S.A. (GBOOF)?
The closing price on Oct 2, 2026 was $10.27. Our model-based fair value is $9.17, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Grupo Financiero Banorte, S.A. right now?
A fairly wide model range ($7.75 to $15.04) leaves room in how you read the outcome. 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 Grupo Financiero Banorte, S.A.

How large is the market capitalisation of Grupo Financiero Banorte, S.A. (GBOOF)?
The market capitalisation of Grupo Financiero Banorte, S.A. is $31.2B. 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/E ratio of Grupo Financiero Banorte, S.A. (GBOOF)?
The price-to-earnings ratio of Grupo Financiero Banorte, S.A. is 8.2. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Grupo Financiero Banorte, S.A. (GBOOF)?
The price-to-sales ratio of Grupo Financiero Banorte, S.A. is 1.94 (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 Grupo Financiero Banorte, S.A. (GBOOF)?
Earnings per share at Grupo Financiero Banorte, S.A. are $1.26 (price ÷ EPS = P/E 8.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Grupo Financiero Banorte, S.A. (GBOOF)?
The dividend yield of Grupo Financiero Banorte, S.A. is 9.4% (payout 76.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Grupo Financiero Banorte, S.A. (GBOOF)?
The net margin of Grupo Financiero Banorte, S.A. is 23.8% (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 Grupo Financiero Banorte, S.A. (GBOOF)?
The return on equity (ROE) of Grupo Financiero Banorte, S.A. is 23.5% (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 Grupo Financiero Banorte, S.A. (GBOOF)?
On an EBIT basis the return on assets of Grupo Financiero Banorte, S.A. is 0.7% (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 Grupo Financiero Banorte, S.A. (GBOOF)?
The operating margin of Grupo Financiero Banorte, S.A. is 59.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Grupo Financiero Banorte, S.A. (GBOOF)?
Revenue at Grupo Financiero Banorte, S.A. is growing +4.1% versus a year earlier (3y avg +11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Grupo Financiero Banorte, S.A. (GBOOF) generate?
The free cash flow of Grupo Financiero Banorte, S.A. is $70.3B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Grupo Financiero Banorte, S.A. (GBOOF) carry?
The net debt of Grupo Financiero Banorte, S.A. is $53.2B (fiscal year 2025, ≈ 0.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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