Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) Income Statement Analysis

See more : CSG Systems International, Inc. (CSGS) Income Statement Analysis – Financial Results

Complete financial analysis of Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Grupo Financiero Banorte, S.A.B. de C.V., a leading company in the Banks – Regional industry within the Financial Services sector.

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Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.banorte.com

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

Grupo Financiero Banorte, S.A.B. de C.V., through its subsidiaries, provides banking and financial products and services in Mexico. The company offers payroll accounts and credit cards; car, mortgage, payroll, and personal credit banorte; and savings and investment products. It also provides insurance products, including life, home, auto, health, savings, credit card, mobile equipment, and mortgage credit insurance; foreign exchange services; and online and mobile banking services. The company operates through a network of approximately 1,151 branches, 9,668 ATMs, and 154,443 point of sale terminals. Grupo Financiero Banorte, S.A.B. de C.V. was founded in 1899 and is based in Mexico City, Mexico.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005
Revenue	118.14B	179.54B	160.97B	143.66B	138.05B	129.90B	110.53B	90.22B	85.62B	82.93B	75.42B	66.33B	42.01B	33.85B	32.36B	30.99B	25.28B	22.29B	20.22B
Cost of Revenue	-314.58B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	432.72B	179.54B	160.97B	143.66B	138.05B	129.90B	110.53B	90.22B	85.62B	82.93B	75.42B	66.33B	42.01B	33.85B	32.36B	30.99B	25.28B	22.29B	20.22B
Gross Profit Ratio	366.27%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	11.52B	10.83B	12.19B	12.00B	11.79B	11.74B	11.15B	9.57B	10.02B	9.06B	7.97B	8.75B	7.70B	17.69B	17.02B	15.81B	14.43B	12.46B	11.58B
Selling & Marketing	37.06B	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	48.58B	10.83B	12.19B	12.00B	11.79B	11.74B	11.15B	9.57B	10.02B	9.06B	7.97B	8.75B	7.70B	17.69B	17.02B	15.81B	14.43B	12.46B	11.58B
Other Expenses	0.00	94.39B	93.23B	70.72B	62.67B	-60.93B	-3.03B	736.00M	-38.90B	0.00	0.00	0.00	-41.00M	581.00M	872.00M	2.22B	1.87B	201.00M	1.09B
Operating Expenses	48.58B	105.22B	105.42B	82.73B	74.46B	70.98B	62.88B	52.68B	52.65B	51.84B	49.78B	44.54B	23.41B	17.69B	17.02B	15.81B	14.43B	12.46B	11.58B
Cost & Expenses	48.58B	105.22B	105.42B	82.73B	74.46B	70.98B	62.88B	52.68B	52.65B	51.84B	49.78B	44.54B	23.41B	17.69B	17.02B	15.81B	14.43B	12.46B	11.58B
Interest Income	375.50B	268.63B	133.26B	132.16B	149.11B	136.30B	109.34B	79.06B	68.98B	70.34B	67.87B	64.13B	53.00B	41.48B	45.45B	50.42B	40.59B	35.48B	36.79B
Interest Expense	248.02B	152.47B	40.77B	47.90B	68.69B	60.75B	44.64B	27.38B	23.75B	27.86B	31.46B	30.87B	24.63B	18.75B	22.27B	27.79B	23.20B	20.96B	22.99B
Depreciation & Amortization	4.49B	4.37B	2.59B	2.29B	2.09B	2.22B	1.69B	1.17B	1.37B	1.26B	1.22B	1.15B	1.60B	1.18B	954.00M	1.10B	980.00M	888.00M	988.00M
EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	121.53%	29.94%	29.82%	37.24%	35.27%	31.34%	30.32%	28.72%	26.72%	24.24%	24.37%	35.03%	33.53%	28.40%	38.35%	45.13%	45.72%	47.62%
Operating Income	69.56B	213.84B	45.60B	40.56B	49.32B	43.59B	32.96B	26.19B	23.21B	20.90B	17.06B	15.02B	13.12B	10.17B	8.24B	10.79B	10.43B	9.30B	8.64B
Operating Income Ratio	58.88%	119.10%	28.33%	28.23%	35.73%	33.56%	29.82%	29.02%	27.11%	25.20%	22.62%	22.64%	31.23%	30.04%	25.45%	34.80%	41.25%	41.73%	42.74%
Total Other Income/Expenses	1.41B	966.00M	2.27B	2.00B	1.72B	1.39B	1.26B	1.25B	1.55B	1.22B	-2.43B	16.20B	-26.18B	10.17B	7.92B	9.63B	10.07B	9.30B	-419.00M
Income Before Tax	70.97B	61.99B	46.10B	40.95B	49.83B	44.05B	33.21B	26.21B	23.45B	21.12B	17.83B	16.20B	13.12B	9.85B	7.92B	10.51B	10.07B	8.51B	8.22B
Income Before Tax Ratio	60.07%	34.53%	28.64%	28.50%	36.10%	33.91%	30.05%	29.05%	27.39%	25.47%	23.65%	24.43%	31.23%	29.09%	24.48%	33.91%	39.84%	38.16%	40.67%
Income Tax Expense	17.83B	15.96B	10.56B	10.05B	12.80B	11.64B	9.05B	6.88B	6.11B	5.67B	3.56B	4.13B	3.55B	2.81B	2.05B	3.40B	3.29B	3.14B	2.36B
Net Income	52.42B	45.41B	35.05B	30.51B	36.53B	31.96B	23.91B	19.31B	17.11B	15.23B	13.51B	10.89B	7.47B	6.71B	5.85B	7.01B	6.81B	6.26B	5.96B
Net Income Ratio	44.37%	25.29%	21.77%	21.24%	26.46%	24.60%	21.63%	21.40%	19.98%	18.36%	17.91%	16.42%	17.77%	19.81%	18.09%	22.63%	26.94%	28.06%	29.46%
EPS	18.18	15.75	12.15	10.70	12.75	11.24	8.69	7.01	6.19	5.49	5.35	4.68	3.79	3.32	2.90	3.48	3.37	3.09	86.00M
EPS Diluted	18.18	15.75	12.15	10.58	12.69	11.09	8.62	6.96	6.17	5.49	5.35	4.68	3.79	3.32	2.90	3.48	3.37	3.09	86.00M
Weighted Avg Shares Out	2.88B	2.88B	2.88B	2.85B	2.87B	2.84B	2.75B	2.75B	2.76B	2.77B	2.53B	2.33B	2.25B	2.25B	2.02B	2.02B	2.02B	2.02B	69.27
Weighted Avg Shares Out (Dil)	2.88B	2.88B	2.88B	2.88B	2.88B	2.88B	2.77B	2.77B	2.77B	2.77B	2.53B	2.33B	2.25B	2.25B	2.02B	2.02B	2.02B	2.02B	69.27

Banorte: Mexico's Banking Leader Is Available At A Deep Discount

September 17, 2024seekingalpha.com

Banorte hasn't been immune from Mexico's post-election selloff. It has, however, been overly penalized. Get paid an 10+% yield to sit and wait.

Carlos Hank González, Chairman of Grupo Financiero Banorte, receives the Most Honored Company award from Institutional Investor

September 6, 2024prnewswire.com

Grupo Financiero Banorte is recognized, for a third year in a row, as "Most Honored Company" in the 2024 annual ranking of Institutional Investor GFNorte reached first place in the next categories among companies in all sectors in Mexico: Best...

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) Q1 2024 Earnings Call Transcript

April 17, 2024seekingalpha.com

Grupo Financiero Banorte, S.A.B. de C.V. (OTCQX:GBOOF) Q1 2024 Earnings Call Transcript April 17, 2024 11:00 AM ET Company Participants Tomas Lozano - Head of Corporate Development, Investor Relations Marcos Ramirez - Chief Executive Officer Rafael Arana - Chief Financial...

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOY) Q4 2023 Earnings Call Transcript

January 18, 2024seekingalpha.com

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOY) Q4 2023 Earnings Call Transcript

Mexico's Banorte posts 13% profit jump in Q4 pushed by loan growth

January 17, 2024reuters.com

Mexico's Grupo Financiero Banorte reported on Wednesday a 13% increase in its fourth-quarter net profit, driven by loan growth, a decline in interest expense and lower funding costs.

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) Q3 2023 Earnings Call Transcript

November 3, 2023seekingalpha.com

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) Q3 2023 Earnings Call Transcript

Grupo Financiero Banorte: Rate Cuts Loom, But There's Still Cause For Optimism

September 24, 2023seekingalpha.com

Banorte has begun to reset its rate-sensitive balance sheet as Mexico inches closer to its rate cut cycle. Margins will inevitably compress, but the bank has multiple levers to mitigate the impact and can always fall back on the broader...

Grupo Financiero Banorte, S.A.B. de C.V. (GBOOF) Q2 2023 Earnings Call Transcript

July 21, 2023seekingalpha.com

Grupo Financiero Banorte, S.A.B. de C.V. (OTCQX:GBOOF) Q2 2023 Earnings Conference Call July 21, 2023 11:00 AM ET Company Participants Tomás Lozano - Head, Corporate Development, Investor Relations and ESG Marcos Ramirez - Chief Executive Officer Rafael Arana - Chief...

Mexico's Banorte posts profit boost on insurance, trading units

July 20, 2023reuters.com

Mexico's Grupo Financiero Banorte reported on Thursday a 14% increase in second-quarter net profit, hitting 13.09 billion pesos ($764.68 million) on better results in its insurance and annuities and trading units.