Grupo Financiero Banorte S.A.B. de C.V (GFNORTEO) Fair Value & Analysis
Financial Services · MX · Market cap 518B MXN (≈ $30.7B) · ISIN MXP370711014
What is Grupo Financiero Banorte S.A.B. de C.V really worth?
A solid business, currently priced close to our fair value of 190.71 MXN.
Strengths
Risks
Fair value as of: Aug 21, 2026
From 6 valuation models · updated 15 days ago
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range 74.90 MXN – 198.44 MXN · fair‑value band 143.03 MXN – 238.38 MXN · the 198.44 MXN price screens above the 190.71 MXN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Grupo Financiero Banorte S.A.B. de C.V (GFNORTEO) currently trades at 198.44 MXN, while our model-based Fair Value estimate is 190.71 MXN, implying the stock looks roughly 4.1% fairly valued today. The Quality Score stands at 65/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of 296.04 MXN per share, and 3 of the 6 models we run sit above the 198.44 MXN price. Bear case: the Asset-Based group reads lowest at 60.15 MXN, and 3 of the 6 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Grupo Financiero Banorte S.A.B. de C.V generated revenue of 141B MXN at a net margin of 41.8%. Revenue grew 4.1% year over year. It earns a return on equity of 23.5%. Net debt stands at 53.2B MXN. Fundamentals as of Aug 21, 2026
Our scenario range runs from 143.03 MXN (bear case) to 238.38 MXN (bull case); at 198.44 MXN, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −4%, GFNORTEO screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 14.68 MXN per share, which is 7.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Dividend Discount (296.04 MXN) versus Asset-Based (60.15 MXN). Highest evidence: Residual Income (67).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 72
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Grupo Financiero Banorte S.A.B. de C.V 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.
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Peer Group
Banks - Regional · 1071 stocks
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.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.17 | $24.12 | +4% |
| BNP Paribas SA BNP | €102.56 | €144.64 | +41% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,443 | ₹835.21 | −42% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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