BMA vs. GGAL
BMA (Banco Macro S.A.) and GGAL (Grupo Financiero Galicia S.A.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, BMA returned 8.26%/yr vs 9.22%/yr for GGAL. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
BMA vs. GGAL - Performance Comparison
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Returns By Period
In the year-to-date period, BMA achieves a 11.48% return, which is significantly higher than GGAL's 1.77% return. Over the past 10 years, BMA has underperformed GGAL with an annualized return of 8.26%, while GGAL has yielded a comparatively higher 9.22% annualized return.
BMA
- 1D
- -4.33%
- 1M
- 28.85%
- YTD
- 11.48%
- 6M
- 10.64%
- 1Y
- 47.75%
- 3Y*
- 71.56%
- 5Y*
- 53.21%
- 10Y*
- 8.26%
GGAL
- 1D
- -5.39%
- 1M
- 22.46%
- YTD
- 1.77%
- 6M
- 2.45%
- 1Y
- 7.61%
- 3Y*
- 55.30%
- 5Y*
- 48.51%
- 10Y*
- 9.22%
BMA vs. GGAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BMA Banco Macro S.A. | 11.48% | -3.55% | 277.79% | 91.62% | 27.04% | -9.96% | -57.05% | -14.00% | -60.72% | 81.54% |
GGAL Grupo Financiero Galicia S.A. | 1.77% | -11.36% | 289.05% | 92.28% | 8.05% | 8.88% | -45.53% | -40.38% | -57.85% | 145.24% |
Correlation
The correlation between BMA and GGAL is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2006 | 0.75 |
The correlation between BMA and GGAL shifts across timeframes, from 0.75 (all time) to 0.90 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
BMA:
$6.22B
GGAL:
$1.50B
BMA:
ARS 5.81K
GGAL:
ARS 676.97
BMA:
24.49
GGAL:
115.25
BMA:
0.04
GGAL:
1.05
BMA:
1.91
GGAL:
0.76
BMA:
1.55
GGAL:
0.25
BMA:
ARS 4.76T
GGAL:
ARS 13.01T
BMA:
ARS 2.84T
GGAL:
ARS 5.27T
BMA:
ARS 751.84B
GGAL:
ARS 306.88B
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Return for Risk
BMA vs. GGAL — Risk / Return Rank
BMA
GGAL
BMA vs. GGAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Macro S.A. (BMA) and Grupo Financiero Galicia S.A. (GGAL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BMA | GGAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.10 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 0.15 | +0.86 |
| Martin ratioReturn relative to average drawdown | 2.25 | 0.33 | +1.92 |
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Drawdowns
BMA vs. GGAL - Drawdown Comparison
The maximum BMA drawdown since its inception was -91.66%, smaller than the maximum GGAL drawdown of -98.98%. Use the drawdown chart below to compare losses from any high point for BMA and GGAL.
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Drawdown Indicators
| BMA | GGAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.66% | -98.98% | +7.32% |
Max Drawdown (1Y)Largest decline over 1 year | -47.38% | -50.03% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -65.40% | -62.94% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -65.40% | -62.94% | -2.46% |
Max Drawdown (10Y)Largest decline over 10 years | -91.66% | -91.70% | +0.04% |
Current DrawdownCurrent decline from peak | -10.20% | -22.16% | +11.96% |
Average DrawdownAverage peak-to-trough decline | -44.77% | -57.33% | +12.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.24% | 22.95% | -1.71% |
Volatility
BMA vs. GGAL - Volatility Comparison
Banco Macro S.A. (BMA) has a higher volatility of 18.80% compared to Grupo Financiero Galicia S.A. (GGAL) at 16.86%. This indicates that BMA's price experiences larger fluctuations and is considered to be riskier than GGAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BMA | GGAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.80% | 16.86% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 40.03% | 37.50% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.72% | 75.37% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.67% | 58.61% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.40% | 62.07% | +0.33% |
Dividends
BMA vs. GGAL - Dividend Comparison
BMA's dividend yield for the trailing twelve months is around 4.92%, more than GGAL's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BMA Banco Macro S.A. | 4.92% | 2.38% | 6.10% | 7.75% | 7.28% | 0.00% | 0.00% | 6.20% | 5.05% | 0.65% | 1.53% | 0.00% |
GGAL Grupo Financiero Galicia S.A. | 3.97% | 2.11% | 3.81% | 6.49% | 4.62% | 0.23% | 0.94% | 1.89% | 1.29% | 0.16% | 0.13% | 0.09% |
Financials
BMA vs. GGAL - Financials Comparison
This section allows you to compare key financial metrics between Banco Macro S.A. and Grupo Financiero Galicia S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BMA vs. GGAL - Profitability Comparison
BMA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported a gross profit of 1.17T and revenue of 1.91T. Therefore, the gross margin over that period was 61.1%.
GGAL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Grupo Financiero Galicia S.A. reported a gross profit of 1.11T and revenue of 1.99T. Therefore, the gross margin over that period was 56.0%.
BMA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported an operating income of 212.69B and revenue of 1.91T, resulting in an operating margin of 11.2%.
GGAL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Grupo Financiero Galicia S.A. reported an operating income of 66.60B and revenue of 1.99T, resulting in an operating margin of 3.4%.
BMA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Macro S.A. reported a net income of 140.24B and revenue of 1.91T, resulting in a net margin of 7.4%.
GGAL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Grupo Financiero Galicia S.A. reported a net income of 65.18B and revenue of 1.99T, resulting in a net margin of 3.3%.
Frequently Asked Questions
BMA and GGAL have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMA has higher volatility (18.80%) compared to GGAL (16.86%). In terms of maximum drawdown, BMA dropped -91.66% vs GGAL's -98.98%.
BMA currently has the higher Sharpe Ratio (0.64 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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