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Grupo Financiero Banorte, S.A.B. de C.V.

Grupo Financiero Banorte, S.A.B. de C.V.

GFNORTEO.MX
Grupo Financiero Banorte, S.A.B. de C.V.MX flagMexican Stock Exchange
187.23
MXN
-1.18
- -
519.86BMarket Cap
Grupo Financiero Banorte, S.A.B. de C.V.
GFNORTEO.MX
(Mexican Stock Exchange)

Recent

price

187.23

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
15.31
25.52
28.51
29.86
29.91
28.95
33.21
40.19
45.68
48.19
50.38
56.15
63.71
68.71
76.99
87.5
72.66
Revenue per Share
3.27
3.79
4.68
5.35
5.49
6.19
7.01
8.69
11.24
12.75
10.7
12.23
16.11
18.31
19.72
20.79
19.27
Basic EPS, GAAP
1.33
-4.54
6.99
-4.8
3.55
12.94
-12.94
7.36
-3.18
0.83
16.58
2.31
23
14.97
8.09
24.87
16.33
Free Cash Flow per Basic Share
0.46
0.51
0.53
1.15
0.44
1.01
2.62
5.32
3.36
5.57
- -
5.85
12.16
13.17
12.61
16.88
3.38
Dividend per Share
19.64
23.18
26.48
26.71
28.95
34.24
37.17
39.92
43.42
49.43
57.59
62.81
56.83
59.71
64.94
63.65
58.95
Book Value per Share
22.33
23.91
28.52
32.52
35.94
40.64
44.02
45.94
51.17
59.09
69.58
73.43
68.91
71.65
72.11
75.37
71.14
Tangible Book Value per Share
2,249
2,249
2,326
2,526
2,772
2,762
2,754
2,750
2,844
2,865
2,851
2,867
2,818
2,863
2,849
2,828
2,946
Basic Weighted Avg Shares
34,427
57,404
66,329
75,423
82,930
79,980
91,462
110,527
129,898
138,053
143,656
160,966
179,544
196,701
219,384
247,467
214,101
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
1,181
1,549
1,148
1,216
1,262
1,325
1,170
1,688
2,217
2,087
2,287
2,590
4,368
4,485
5,251
5,524
5,466
Depreciation Expense
7,362
8,517
10,888
13,508
15,228
17,108
19,308
23,908
31,958
36,528
30,508
35,048
45,408
52,418
56,188
58,788
56,787
Net Income, GAAP
27.59
26.62
25.48
19.93
26.84
25.93
26.24
27.25
26.42
25.68
24.54
22.9
25.75
25.12
25.18
26.04
26
Effective Tax Rate (%)
21.38
14.84
16.42
17.91
18.36
21.39
21.11
21.63
24.6
26.46
21.24
21.77
25.29
26.65
25.61
23.76
26.52
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
44,250
140,400
160,559
68,285
64,734
55,235
70,122
82,137
169,513
115,968
140,100
140,503
125,455
130,539
165,814
153,459
151,199
LT Debt
50,227
76,434
88,509
108,691
124,672
137,352
142,701
147,584
174,464
195,998
225,104
237,240
239,032
249,205
248,428
252,213
251,407
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
17.81
17.69
19.14
20.93
20.62
19.57
19.61
22.54
27.4
27.56
19.95
20.36
26.69
31.66
31.57
32.21
32.94
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,812
2,812
2,790
Market Capitalization
382,093
414,277
507,354

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
98,704
136,906
139,682
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.43%
2.32%
1.52%
Free Cash Flow
217.88%
183.86%
204.99%
Net Income, GAAP
13.99%
14.34%
4.63%
Sales/Revenue/Turnover
12.05%
11.5%
12.8%
Total Cash Common Dividend
- -
29.56%
32.87%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
57,876
46,112
117,459
46,791
219,384
2025
63,406
-13,555
57,788
- -
247,467
2026
67,892
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5
4.91
- -
4.84
19.72
2025
5
- -
5.63
- -
20.79
2026
5
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
3.51
12.61
2025
- -
- -
6.97
- -
16.88
2026
- -
- -
- -
- -
- -
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Business
Grupo Financiero Banorte, S.A.B. de C.V. (GFNORTEO.MX) operates as one of Mexico's largest financial groups, providing a comprehensive range of banking and financial services including commercial banking, consumer banking, investment banking, asset management, insurance products, pension fund administration, leasing services, and factoring operations. The company offers deposit products such as savings accounts, checking accounts, and time deposits; credit products including mortgages, personal loans, credit cards, auto loans, and commercial loans; and investment services like mutual funds, brokerage services, and wealth management through brands including Banorte, IXE, and Banorte Seguros. It serves individual consumers, small and medium-sized enterprises, and large corporations across retail banking, corporate banking, and government sectors, with primary operations in Mexico and select international presence in the United States through subsidiaries. Founded in 1899 and headquartered in Monterrey, Mexico, Grupo Financiero Banorte maintains a network of over 1,200 branches nationwide and leverages digital platforms for expanded reach. The group encompasses key subsidiaries such as Banco Mercantil del Norte S.A. (Banorte), the primary banking arm; Casa de Bolsa Banorte Ixe S.A. de C.V. for investment services; and Operadora de Fondos Banorte S.A. de C.V. for asset management. In recent developments, the company completed a strategic alliance with Visa in 2024 to enhance digital payment solutions and launched new fintech offerings including Banorte Móvil enhancements for real-time transactions. It also reported a significant funding boost through a 2025 bond issuance exceeding MXN 20 billion to support expansion into sustainable finance products and acquired select assets from a regional competitor to strengthen its SME lending portfolio. These moves reflect Banorte's focus on digital transformation and market consolidation amid Mexico's evolving financial landscape.