Stock metrics: P/E, financial statements and risk
Read Argentine stock data: reporting periods, P/E, market cap, financial statements, cash flow, debt, dividends and forecasts. Definitions organised by topic.
Before comparing
Financial periods
FY is a fiscal year, FQ a fiscal quarter and TTM the trailing twelve months. A company’s year does not always end in December. Comparing different periods can be misleading.
The retrieval date says when information was obtained, not when the result was earned.
Local shares and ADRs
An ADR represents shares of a foreign company held at a depositary bank. The ratio to local shares depends on the programme and can change. Similar tickers do not guarantee the same currency, market or unit.
La Plata identifies the local BYMA symbol and displays prices in ARS. ADR data is not automatically substituted or converted.
Inflation and comparable financial statements
In hyperinflationary economies, IAS 29 addresses financial statements expressed in the purchasing-power unit at the reporting date. Comparing figures from different years requires knowing that basis; being denominated in ARS alone does not make them equivalent.
Historical series retain the provider’s basis. La Plata does not apply a new inflation restatement.
Stock splits
A stock split increases the number of shares and changes the per-share price unit without creating economic value by itself. In a 10-for-1 split, one share becomes ten; historical price comparisons require knowing how the series was adjusted.
La Plata preserves the series received from BYMA. Event notes add context without changing original values.
Results and financial position
Revenue and net income
Revenue reflects commercial activity recognised in the period. Net income includes costs, expenses and other accounting effects. Cash generation can differ because of collections, payments and investment.
Banks and other financial businesses have revenue structures different from industrial companies.
Assets, liabilities and equity
A balance sheet records resources, obligations and equity at one date. Assets = liabilities + equity. Liabilities include more than borrowings; book equity is not market capitalisation.
Compare compatible reporting dates and accounting bases. A balance is not the flow generated during the year.
Cash flow, investment and free cash flow
The cash flow statement separates operating, investing and financing activities. A common FCF definition deducts capital expenditure from operating cash flow, but definitions vary. It is not necessarily cash available for dividends.
La Plata preserves FCF and CapEx as received, including their signs. It does not force a reconciliation between rows.
Debt and payment capacity
Liquidity describes capacity to meet near-term obligations; solvency ratios examine longer-term obligations. Read leverage and interest coverage alongside cash flow and the business model.
There is no universal threshold across sectors. Check the debt, earnings and period used by each ratio.
Growth and comparison basis
YoY compares with the same period a year earlier; QoQ with the previous quarter. Seasonality can affect interpretation. With a positive base, moving from 100 to 120 represents 20% growth.
With a zero or negative base, check the definition. Series retain their original basis without a new inflation adjustment.
Valuation and profitability
Market capitalisation
The market value of a company’s equity, related to its share price and shares outstanding. It is neither company revenue nor available cash.
Illustrative example: 100 million shares at ARS 20 imply a market cap of ARS 2 billion.
La Plata’s lists start with the largest market caps. Instruments without a value appear last.
Price and earnings
P/E relates the share price to earnings per share. TTM P/E uses the trailing twelve months; forward P/E uses estimated earnings. Reported results and forecasts are different bases.
Illustrative example: a price of 100 and earnings per share of 10 produce a P/E of 10× on the same currency and share basis.
With losses or very small earnings, the multiple can be uninformative. Forecasts can change and do not guarantee results.
Enterprise value and EBITDA
EV looks beyond equity to include debt, cash and other adjustments under the provider’s definition. EV/EBITDA relates this value to earnings before interest, tax, depreciation and amortisation.
EBITDA is not free cash flow: it does not deduct all investment needed to operate.
Book value and return on equity
P/B compares price with book value per share; ROE relates earnings to equity. A low P/B does not establish that a stock is cheap: losses, asset quality and profitability can explain differences between companies.
Check the period, currency and equity definition. Negative equity requires particular care when reading these ratios.
Ownership, expectations and risk
Shareholders and voting rights
Equity ownership measures economic ownership; voting rights measure influence in corporate decisions. They can differ when share classes have different rights.
The disclosure date is retained. A partial table does not necessarily represent the entire ownership structure.
Dividend yield
Relates dividends per share to the share price. The result depends on the dividend period and price used. A past distribution does not ensure future payments.
A missing value does not prove that a company has never paid a dividend.
Estimates and price targets
Estimates describe expectations, not realised results. Annual, quarterly and next-twelve-month horizons differ. In a rolling series, the forecast fiscal period can change when the previous one closes.
A price target does not guarantee a return. Missing estimates remain missing; no figures are filled in.
Beta and price range
Beta relates historical stock movements to a benchmark index. It depends on the benchmark and calculation window. The 52-week range shows observed price extremes, not a valuation of the business.
Beta does not capture every risk. Historical extremes do not set a floor or ceiling for future prices.
Price change and investment return
The chart change compares closing prices over the selected period. It does not add dividends, costs or taxes, convert pesos to dollars or deduct inflation. It therefore describes a nominal price change, not a total or inflation-adjusted return.
If the period spans a corporate action, also check the adjustment basis of the history.
Conceptual references: SEC, Investor.gov, CFA Institute, IFRS Foundation (IAS 7 and IAS 29) and indicator documentation. Consulted 27–28 September 2026. Text and translation: La Plata, with AI assistance.
Explore stocks