Macro Bank Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Macro Bank Inc. files with the SEC in its annual reports.

In ARS millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
General and administrative	11,741	17,326	26,305	42,751	121,878	265,527	357,624	366,350
Operating income	36,353	56,301	125,182	205,621	548,115	1,953,660	4,406,429	2,717,781
Pre-tax income	22,069	18,335	69,167	115,262	145,944	401,072	1,883,015	360,015
Income tax	12,936	19,835	26,593	38,361	7,194	124,572	614,793	33,523
Income from continuing operations	9,133	-1,500	42,574	76,901	138,750	276,500	1,268,223	326,491
Net income to minority interests	0.56	0.36	0.36	1.07	4.53	48	764	989
Net income	9,133	-1,500	42,573	76,900	138,745	276,451	1,267,459	325,502
EBITDA	38,518	59,387	131,359	218,565	591,340	2,057,066	4,532,947	2,855,921
EPS, basic	184.14	-20.77	403.89	374.52	216.99	432.35	1,982.00	509.06
EPS, diluted	184.14	-20.77	403.89	374.52	216.99	432.35	1,982.00	509.06

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	172,187	412,940	589,984	2,413,600	4,094,064	5,085,503	3,014,889	2,863,521
Property, plant and equipment	15,206	23,912	35,053	51,878	102,991	317,211	776,953	788,293
Total assets	338,070	540,302	606,152	1,169,087	1,946,567	6,508,794	14,629,820	14,492,425
Total liabilities	266,318	446,609	461,759	940,341	1,479,770	4,913,674	10,190,197	10,441,712
Retained earnings	37,627	64,606	116,666	228,987	360,473	1,264,343	2,654,954	3,316,602
Shareholders' equity	71,442	93,691	144,391	228,743	466,724	1,594,856	4,438,608	4,049,083
Minority interests	310	1.49	1.91	2.82	73.8	264	1,015	1,630
Total equity	149,655	192,543	424,550	1,387,574	3,165,505	3,473,591	4,439,623	4,050,713
Total liabilities and equity	338,070	540,302	606,152	1,169,087	1,946,567	6,508,794	14,629,820	14,492,425

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	9,133	-1,500	42,574	76,901	138,750	276,500	1,268,223	326,491
Depreciation and amortization	2,165	3,086	6,178	12,944	43,225	103,406	126,518	138,141
Cash from operations	-26,077	159,426	28,480	351,896	271,768	3,510,892	-185,598	2,002,138
Capital expenditures	-4,530	-5,270	-8,507	-10,809	-41,810	-164,965	-124,285	-124,516
Cash from investing	-4,530	-5,270	-8,507	-10,809	-42,026	-164,991	177,091	-133,690
Debt issued		-1,181	4.3	0.08
Debt repaid		-16.7	-4,842	-5,994	-4,817		-16,546	-5,910
Share buybacks		-10,426	-614	0
Dividends paid	-1,825	-9,448	-17,480	-1.18	-77,887	-129,488	-391	-466,941
Cash from financing	35,350	-16,417	-31,878	-20,051	-52,644	-169,390	-124	-592,027
Exchange rate effect	3,778	43,624	78,764	85,784	164,337	856,611	1,980,056	365,924
Net change in cash	-21,110	101,389	-110,062	185,077	-533,550	991,439	-2,070,614	-151,368
Free cash flow	-30,607	154,156	19,973	341,087	229,958	3,345,927	-309,883	1,877,622
Interest paid	26,616	49,046	148,243	110,565	749,958	1,594,697	3,411,431	1,795,233
Income taxes paid	10,563	18,728	17,954	24,546	67,120	18,244	57,804	322,211

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Effective tax rate	9.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.2%	Net income / average total assets.
Return on invested capital (ROIC)	188.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.

Growth

Metric	Value	How it is calculated
Operating income growth, 1y	-38.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	70.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	85.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-37.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	69.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	85.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-74.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	32.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	50.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-74.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	32.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	94.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	134.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	101.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	148.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-8.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	105.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	94.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	95.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	88.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	72.0%	Total liabilities / total assets.
Tangible book value	ARS 4.05T	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	576.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	ARS 509.06	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	ARS 509.06	Net income per basic share, as reported (split-adjusted).
Payout ratio	143.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	24.9%	Dividends paid / free cash flow, when free cash flow is positive.

Was Macro Bank Inc. profitable in fiscal 2024?

Yes. Net income was ARS 325.50B, a net margin of -.

How much free cash flow did Macro Bank Inc. generate in fiscal 2024?

Cash from operations of ARS 2.00T minus capital expenditures of ARS 124.52B left free cash flow of ARS 1.88T.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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