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Banorte Valuation Multiples

Discover revenue and EBITDA valuation multiples for Banorte and similar public comparables like RAKBANK, National Bank of Fujairah, and First Abu Dhabi Bank.

Banorte Overview

About Banorte

Grupo Financiero Banorte SAB de CV is a Mexican financial services company. The company offers a wide variety of products and services including banking services, brokerage, wholesale banking, leasing, factoring, insurance, pensions, and retirement savings. It operates locally in Mexico.


Founded

1992

HQ

Mexico
Employees

32.7K+

Website

banorte.com

Financials

LTM Revenue $7.5B

LTM EBITDA n/a

EV

$28.2B

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Banorte Financials

Banorte has a last 12-month revenue of $7.5B and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Banorte achieved revenue of $10.8B and an EBITDA of n/a.

Banorte expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Banorte P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $9.7B $10.8B XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA n/a n/a XXX XXX XXX
EBITDA Margin NaN% NaN% XXX XXX XXX
Net Profit $2.2B $2.6B XXX XXX XXX
Net Margin 23% 24% XXX XXX XXX
Net Debt $849M $1.5B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Banorte Stock Performance

As of April 15, 2025, Banorte's stock price is MXN 145 (or $7).

Banorte has current market cap of MXN 407B (or $20.1B), and EV of MXN 572B (or $28.2B).

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Banorte Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$28.2B $20.1B XXX XXX XXX XXX $1.00

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Banorte Valuation Multiples

As of April 15, 2025, Banorte has market cap of $20.1B and EV of $28.2B.

Banorte's trades at 3.8x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Banorte's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Banorte Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $28.2B XXX XXX XXX
EV/Revenue 2.6x XXX XXX XXX
EV/EBITDA n/a XXX XXX XXX
P/E 7.2x XXX XXX XXX
P/E/Growth 1.3x XXX XXX XXX
EV/FCF 28.9x XXX XXX XXX

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Banorte Valuation Multiples

Banorte's NTM/LTM revenue growth is 8%

Banorte's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Banorte's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Banorte's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Banorte Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 11% XXX XXX XXX XXX
EBITDA Margin n/a XXX XXX XXX XXX
EBITDA Growth n/a XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $0.3M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 25% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 57% XXX XXX XXX XXX

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Banorte Public Comps

See public comps and valuation multiples for Commercial Banking comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Abu Dhabi Commercial Bank XXX XXX XXX XXX XXX XXX
Abu Dhabi Islamic Bank XXX XXX XXX XXX XXX XXX
First Abu Dhabi Bank XXX XXX XXX XXX XXX XXX
National Bank of Fujairah XXX XXX XXX XXX XXX XXX
RAKBANK XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Banorte M&A and Investment Activity

Banorte acquired  XXX companies to date.

Last acquisition by Banorte was  XXXXXXXX, XXXXX XXXXX XXXXXX . Banorte acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Banorte

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Banorte

When was Banorte founded? Banorte was founded in 1992.
Where is Banorte headquartered? Banorte is headquartered in Mexico.
How many employees does Banorte have? As of today, Banorte has 32.7K+ employees.
Who is the CEO of Banorte? Banorte's CEO is Mr. Jose Marcos Ramirez Miguel.
Is Banorte publicy listed? Yes, Banorte is a public company listed on MEX.
What is the stock symbol of Banorte? Banorte trades under GFNORTEO ticker.
When did Banorte go public? Banorte went public in 1992.
Who are competitors of Banorte? Similar companies to Banorte include e.g. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, National Bank of Fujairah.
What is the current market cap of Banorte? Banorte's current market cap is $20.1B
What is the current revenue of Banorte? Banorte's last 12-month revenue is $7.5B.
What is the current EV/Revenue multiple of Banorte? Current revenue multiple of Banorte is 3.8x.
What is the current revenue growth of Banorte? Banorte revenue growth between 2023 and 2024 was 11%.
Is Banorte profitable? Yes, Banorte is EBITDA-positive (as of the last 12 months).

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