A3 Mercados SA

A3 Mercados SA

2,715.00
ARS
-85.00
(-3.04%)
255.04EPS
13.91P/E
860.10BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.91
1
1.17
2.69
3.36
7.07
9.74
23.23
46.28
98.3
468.11
603.68
669.02
799.31
Basic EPS, GAAP
0.38
1.14
0.98
3.66
2.72
3.56
2.99
8.53
18.79
21.74
135.82
66.24
136.5
251.64
Free Cash Flow per Basic Share
0.37
0.61
1.05
2.59
1.97
2.15
-0.57
-10.77
38.81
169.9
-296.9
91.48
297.09
244.22
Dividend per Share
- -
- -
- -
0.25
1.13
0.57
- -
3.32
10
16.35
49.42
78.59
312.58
113.06
Book Value per Share
2.04
3.02
3.76
6.56
7.67
18.23
19.42
81.4
135.16
293.82
1,179.89
1,638.32
2,676.52
3,151.03
Tangible Book Value per Share
1.95
2.95
3.72
6.56
7.67
18.23
19.39
38.26
64.64
145.23
581.49
828.04
633.07
831.02
Basic Weighted Avg Shares
28
28
28
23
22
28
28
103
123
123
123
123
163
245
Sales/Revenue/Turnover
25
28
33
63
75
198
273
2,402
5,699
12,105
57,642
74,253
109,050
196,032
Operating Margin (%)
14.87
-7.41
-11.98
17.37
11.99
21.42
38.56
18.19
42.43
57.94
29.12
17.82
22.34
36.88
Depreciation Expense
1
1
1
2
1
3
5
220
353
749
3,243
4,731
8,784
17,387
Net Income, GAAP
10
32
28
85
60
100
84
882
2,314
2,678
16,725
8,147
22,249
61,714
Effective Tax Rate (%)
33.64
11.75
12.66
16.47
16.84
23.02
42.6
18.71
13.9
15.56
26.59
47.08
31.61
31.32
Profit Margin (%)
41.45
114.43
83.83
135.75
80.78
50.35
30.73
36.74
40.6
22.12
29.02
10.97
20.4
31.48
Working Capital
49
78
99
179
209
488
506
5,211
7,719
16,025
71,538
98,379
184,021
238,373
LT Debt
- -
- -
- -
- -
- -
- -
- -
12
1
29
3,998
4,386
4,301
2,632
Total Equity
57
85
106
185
217
515
549
10,776
17,201
37,013
149,329
205,857
660,235
779,804
Return on Invested Capital (%)
17.53
42.24
28.04
54.71
28.54
6.77
9.49
5.75
13.83
20.73
23
6.86
5.14
7.8
Return on Capital (%)
19.42
45.67
28.74
58.29
36.64
36.46
21.86
12.64
15.61
9.91
16.66
4.29
5.09
8.41
Return on Common Equity (%)
19.45
45.38
28.96
59.01
30.25
27.5
15.89
16.7
17.35
10.14
18.43
4.7
5.19
8.63

Capital Structure

ARS

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
ST Debt
2,457
2,328
2,481
LT Borrowings
1,652
1,565
1,679
LT Finance Leases
1,160
988
953
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
246
246
246
Market Capitalization
798,665
726,171
860,101

Working Capital

ARS

•

in mil. unless spec.
Dec'26
Mar'26
Jun'26
Total Current Assets
455,556
462,621
433,436
Cash, Cash Equivalents & STI
425,061
439,043
391,432
Accounts Receivable, Net
16,121
15,164
20,472
Inventories
- -
- -
- -
Total Current Liabilities
229,915
223,362
195,063
Payables & Accruals
- -
- -
- -
ST Debt
2,457
2,328
2,481
Deferred Revenue
- -
- -
- -

Growth Rates

ARS

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
283.62%
147.37%
220.73%
Free Cash Flow
654.31%
-53.27%
330.38%
Net Income, GAAP
200.63%
164.87%
173.09%
Sales/Revenue/Turnover
179.47%
140.31%
46.86%
Total Cash Common Dividend
- -
202.11%
427.11%

Quarterly Revenue

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
14,824
19,101
13,153
20,373
74,253
2025
17,350
16,904
19,624
41,991
109,050
2026
49,260
56,944
42,331
47,497
- -

Quarterly Earnings Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13.16
121.68
-103
19.33
66.24
2025
-6.76
32.72
-10.86
80.07
136.5
2026
89.12
155.25
-36.61
43.95
- -

Quarterly Dividends Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.37
58.21
13.79
13.61
78.59
2025
1.05
96.06
184.18
9.84
312.58
2026
0.09
113.09
- -
- -
- -

Company Description

CEO
Diego Germán Fernandez
Sector
Technology services
Industry
Internet software/Services
Address
Rosario Argentina
IPO Date
Nov 28, 1907
Business
A3 Mercados S.A. is an Argentina-based financial market infrastructure provider and exchange holding company that operates electronic trading platforms, clearing, settlement, custody, and capital markets technology solutions. The company provides a diversified suite of trading and post-trade services across financial derivatives, agricultural commodities, fixed income, foreign exchange, and enterprise financial software. Its core offerings include financial derivatives encompassing foreign exchange futures and options, benchmark interest rate derivatives, and equity index contracts; agricultural futures and options spanning soybeans, corn, wheat, and related agribusiness commodities; spot and over-the-counter (OTC) financial instruments, including spot foreign exchange, repurchase agreements (pases/repos), electronic credit invoices, deferred payment checks, and electronic promissory notes (pagarés); fixed-income securities trading across sovereign debt, treasury bills, sub-sovereign notes, and corporate bonds (obligaciones negociables); comprehensive clearing, settlement, central counterparty (CCP) risk management, and registry services through its licensed clearinghouse subsidiary, Argentina Clearing y Registro S.A. (ACyRSA); and proprietary market technology solutions, order management systems (matrizOMS), trading application programming interfaces (APIs), direct market access connectivity, and real-time market data dissemination through its technology units Primary S.A. and Lumina Americas. Additionally, the company operates Primary X (Primary Ventures), a corporate venture capital division focused on investing in early-stage fintech and market infrastructure innovations. In recent major corporate developments, the entity was formed in 2025 through the strategic corporate merger between Matba Rofex S.A. and Mercado Abierto Electrónico S.A. (MAE), creating the largest integrated financial and commodities exchange in Argentina. Following the consummation of the business combination, the company initiated public trading on Bolsas y Mercados Argentinos (BYMA) under the ticker symbol A3, restructured its business operations into three core units (Market, Technology, and Venture Capital), unified its post-trade and clearing infrastructure under ACyRSA, and integrated electronic OTC fixed-income and currency liquidity with derivative execution engines to expand algorithmic trading capabilities. A3 Mercados S.A. traces its institutional founding roots to predecessor exchange establishments in 1907 and is headquartered in Rosario, Argentina, with central operating and corporate facilities in Buenos Aires, Argentina.