# Gentera (GENTERA.MX)

Canonical: https://gigainvestors.com/s/GENTERA.MX

Analysis as of: 2026-10-16T07:38:57.836Z. Financial observations: FY2010–FY2025.

Listing currency: MXN. Reporting currency: MXN.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: MXN 40.41 per share; close as of 2026-10-15.

Estimated value: low MXN 41.53 per share, central MXN 45.41 per share, high MXN 50.13 per share. Buy at or below the central value MXN 45.41 per share. Valuation as of 2026-10-16T07:38:57.836Z; scenarios are not confidence intervals.

Expected annual return: 14.6% at the stated quote. About 14.6% a year at today's price (required return 13.3%). required return 13.3% a year (MX 10-year bond 9.3% + 4 points).

## Checklist

### understandable: fail

- 2 revenue declines in the last 10 years (informational)

- operating margin variation exceeds 0.35

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 1

- Operating margin variation: 0.47×

Chart: Operating margin; fiscal year observations.

- FY2016: 0.26×

- FY2017: 0.20×

- FY2018: 0.20×

- FY2019: 0.22×

- FY2020: -0.01×

- FY2021: 0.26×

- FY2022: 0.36×

- FY2023: 0.41×

- FY2024: 0.42×

- FY2025: 0.43×

### moat: fail

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 17.1%

- ROIC, second-lowest year: 9.6%

- Years with nonpositive capital: 0

- Capital spending / revenue: 1.9%

- ROIC including acquisitions, ten-year median: 11.0%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 11.0%

- FY2017: 11.0%

- FY2018: 9.7%

- FY2019: 9.6%

- FY2020: -8.3%

- FY2021: 38.7%

- FY2022: 24.5%

- FY2023: 23.2%

- FY2024: 24.0%

- FY2025: 27.0%

### economics: fail

- working capital as a share of revenue rose more than 10pp and ends positive

- Owner earnings / net income, 5-yr: 1.07×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: MXN 28B

- Net income, five-year total: MXN 26B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: 3.9 pp

- Working capital / revenue, change between three-year averages: 33.8 pp

- Working capital / revenue, final three-year average: 6.1%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.17×

- FY2022: 1.06×

- FY2023: 1.07×

- FY2024: 1.08×

- FY2025: 1.03×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 11.0% vs 24.0%

- Per-share earnings: 1.87 to 4.09 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: -0.9%

- Market cap gain: MXN 16B

- Cumulative retained earnings: MXN 22B

- Diluted shares, 5-year annual growth: -0.9%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 11.8%

- Per-share value change: MXN 2.22

- Per-share value, starting three-year median: MXN 1.87

- Per-share value, ending three-year median: MXN 4.09

- Buybacks concentrated in cheaper years (correlation): 0.05

- Average buyback yield: 0.4%

- Buyback history: 8 years

- Debt-funded buybacks: Yes

- Acquisition spending: MXN 5.5B

- Cumulative net income, 10 years: MXN 37B

- ROIC, first three-year median: 11.0%

- ROIC, last three-year median: 24.0%

Chart: Earnings per share; fiscal year observations.

- FY2016: MXN 2.08

- FY2017: MXN 1.87

- FY2018: MXN 1.83

- FY2019: MXN 2.03

- FY2020: MXN -1.00

- FY2021: MXN 1.48

- FY2022: MXN 2.94

- FY2023: MXN 3.20

- FY2024: MXN 4.09

- FY2025: MXN 5.40

### accounting: pass

- Sloan accruals: -1.4%

- Receivables to sales index (DSRI): 0.84×

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.21×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.18×

Chart: Sloan accruals; fiscal year observations.

- FY2016: 3.2%

- FY2017: 6.1%

- FY2018: -2.4%

- FY2019: 11.3%

- FY2020: -13.1%

- FY2021: 14.0%

- FY2022: 4.5%

- FY2023: 8.3%

- FY2024: 1.6%

- FY2025: -1.4%

## Holders

## Price story

Down 20% since Mar 2026 · sales +23.9%

Story as of 2026-10-16T10:00:10.356Z; price observation 2026-10-15.

Price needs cash profits to shrink 0.7% a year for ten years

- 2025-07-24: Gentera raises full-year guidance after strong Q2 performance ([investing.com](https://www.investing.com/news/stock-market-news/gentera-raises-fullyear-guidance-after-strong-q2-performance-93CH-4149746))

### Sales · FY2024–2025

sales +23.9%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: MXN 20B 

- FY2017: MXN 20B 

- FY2018: MXN 20B 

- FY2019: MXN 22B 

- FY2020: MXN 18B 

- FY2021: MXN 23B 

- FY2022: MXN 27B 

- FY2023: MXN 31B 

- FY2024: MXN 39B 

- FY2025: MXN 48B 

### Gross margin · FY2019

gross margin 84.7%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: 81.8% 

- FY2017: 81.5% 

- FY2018: 86.5% 

- FY2019: 84.7% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in credit services; annual sales are MXN 48.4 billion.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2025-12-31 (filed 2026-10-16T07:38:57.836Z); FY2025: revenue 48364000000; operatingIncome 20719000000; margin = operatingIncome / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); GENTERA.MX: Gentera, S.A.B. de C.V. provides financial services to microentrepreneurs in Mexico and Peru. It offers savings, credit, insurance, and payment channels to entrepreneurs. The company was formerly known as Financiera Compartamos, S.A. B. de C. V. Gentera. S.A.B. de C.V. was founded in 1990 and is based in Mexico City, Mexico.

### Why customers stay

Margins ranged from 40.9% to 42.8% during 2023–25; it earns 17.1% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); FY2023: operatingIncome / revenue = 40.9%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); FY2024: operatingIncome / revenue = 42.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); FY2025: operatingIncome / revenue = 42.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); 10-year return on capital observations [[2016,0.1101169267614614],[2017,0.110472863050538],[2018,0.09730831742939502],[2019,0.0960583273734823],[2020,-0.08346851654215581],[2021,0.38731264942566107],[2022,0.2453226981393164],[2023,0.23166967822594894],[2024,0.24003626003589898],[2025,0.26993811218894675]]; median 0.17107127063824346. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2016-12-31 (filed 2026-10-16T07:38:57.836Z); FY2016: growth capex 0; upkeep 633000000; owner earnings 1338000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2018-12-31 (filed 2026-10-16T07:38:57.836Z); FY2018: growth capex 0; upkeep 275000000; owner earnings 3387000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2019-12-31 (filed 2026-10-16T07:38:57.836Z); FY2019: growth capex 0; upkeep 304705756; owner earnings 3631294244. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2021-12-31 (filed 2026-10-16T07:38:57.836Z); FY2021: growth capex 0; upkeep 279000000; owner earnings 2738000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2022-12-31 (filed 2026-10-16T07:38:57.836Z); FY2022: growth capex 0; upkeep 394865476; owner earnings 4848134524. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2023-12-31 (filed 2026-10-16T07:38:57.836Z); FY2023: growth capex 0; upkeep 872159976; owner earnings 5075840024. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2024-12-31 (filed 2026-10-16T07:38:57.836Z); FY2024: growth capex 0; upkeep 993000000; owner earnings 6479000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/GENTERA.MX.json#2025-12-31 (filed 2026-10-16T07:38:57.836Z); FY2025: growth capex 0; upkeep 1150000000; owner earnings 8483000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); Dividend observations: [[2016,1253000000],[2017,1251000000],[2018,1084000000],[2019,593000000],[2020,938800000],[2021,938800000],[2022,938800000],[2023,1821600000],[2024,1889000000],[2025,2402000000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 30.5% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); GENTERA.MX SharesStats.PercentInsiders = 30.5 percentage points; cache date 2026-10-16.

### What the price says

The price assumes cash profits shrink 0.7% yearly over ten years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:38:57.836Z); Ten-year compound average after fade. Initial solved rate -0.022643412043914346. Price 40.41; FX 1; discount 0.13252; same standard ten-year fade to terminal 0.03.  Closing-price date 2026-10-15.

## Monthly share-price history (MXN per share)

- 2016-10: MXN 37.30 per share

- 2016-11: MXN 32.37 per share

- 2016-12: MXN 33.38 per share

- 2017-01: MXN 30.45 per share

- 2017-02: MXN 26.47 per share

- 2017-03: MXN 30.84 per share

- 2017-04: MXN 31.56 per share

- 2017-05: MXN 30.01 per share

- 2017-06: MXN 27.23 per share

- 2017-07: MXN 27.07 per share

- 2017-08: MXN 27.43 per share

- 2017-09: MXN 29.51 per share

- 2017-10: MXN 19.42 per share

- 2017-11: MXN 17.10 per share

- 2017-12: MXN 16.39 per share

- 2018-01: MXN 16.87 per share

- 2018-02: MXN 15.40 per share

- 2018-03: MXN 13.26 per share

- 2018-04: MXN 14.95 per share

- 2018-05: MXN 15.07 per share

- 2018-06: MXN 17.57 per share

- 2018-07: MXN 20.14 per share

- 2018-08: MXN 19.37 per share

- 2018-09: MXN 18.99 per share

- 2018-10: MXN 16.46 per share

- 2018-11: MXN 15.09 per share

- 2018-12: MXN 14.48 per share

- 2019-01: MXN 13.95 per share

- 2019-02: MXN 15.83 per share

- 2019-03: MXN 15.14 per share

- 2019-04: MXN 17.30 per share

- 2019-05: MXN 17.25 per share

- 2019-06: MXN 16.59 per share

- 2019-07: MXN 15.82 per share

- 2019-08: MXN 15.00 per share

- 2019-09: MXN 16.28 per share

- 2019-10: MXN 19.06 per share

- 2019-11: MXN 18.69 per share

- 2019-12: MXN 19.47 per share

- 2020-01: MXN 21.28 per share

- 2020-02: MXN 18.89 per share

- 2020-03: MXN 9.06 per share

- 2020-04: MXN 9.58 per share

- 2020-05: MXN 9.16 per share

- 2020-06: MXN 11.01 per share

- 2020-07: MXN 7.77 per share

- 2020-08: MXN 7.18 per share

- 2020-09: MXN 6.31 per share

- 2020-10: MXN 4.99 per share

- 2020-11: MXN 8.72 per share

- 2020-12: MXN 9.73 per share

- 2021-01: MXN 8.02 per share

- 2021-02: MXN 10.64 per share

- 2021-03: MXN 9.13 per share

- 2021-04: MXN 10.18 per share

- 2021-05: MXN 11.24 per share

- 2021-06: MXN 11.77 per share

- 2021-07: MXN 11.63 per share

- 2021-08: MXN 11.05 per share

- 2021-09: MXN 11.99 per share

- 2021-10: MXN 12.32 per share

- 2021-11: MXN 10.89 per share

- 2021-12: MXN 13.18 per share

- 2022-01: MXN 14.79 per share

- 2022-02: MXN 15.18 per share

- 2022-03: MXN 16.89 per share

- 2022-04: MXN 15.85 per share

- 2022-05: MXN 15.13 per share

- 2022-06: MXN 16.11 per share

- 2022-07: MXN 16.57 per share

- 2022-08: MXN 15.69 per share

- 2022-09: MXN 17.37 per share

- 2022-10: MXN 20.36 per share

- 2022-11: MXN 20.58 per share

- 2022-12: MXN 21.94 per share

- 2023-01: MXN 23.00 per share

- 2023-02: MXN 19.76 per share

- 2023-03: MXN 19.76 per share

- 2023-04: MXN 19.78 per share

- 2023-05: MXN 19.01 per share

- 2023-06: MXN 18.35 per share

- 2023-07: MXN 21.72 per share

- 2023-08: MXN 20.89 per share

- 2023-09: MXN 20.46 per share

- 2023-10: MXN 19.12 per share

- 2023-11: MXN 20.09 per share

- 2023-12: MXN 23.58 per share

- 2024-01: MXN 23.41 per share

- 2024-02: MXN 25.62 per share

- 2024-03: MXN 28.45 per share

- 2024-04: MXN 27.47 per share

- 2024-05: MXN 26.33 per share

- 2024-06: MXN 22.68 per share

- 2024-07: MXN 22.09 per share

- 2024-08: MXN 21.10 per share

- 2024-09: MXN 22.00 per share

- 2024-10: MXN 25.54 per share

- 2024-11: MXN 25.81 per share

- 2024-12: MXN 24.30 per share

- 2025-01: MXN 27.19 per share

- 2025-02: MXN 28.52 per share

- 2025-03: MXN 31.53 per share

- 2025-04: MXN 34.24 per share

- 2025-05: MXN 38.22 per share

- 2025-06: MXN 40.09 per share

- 2025-07: MXN 42.63 per share

- 2025-08: MXN 45.60 per share

- 2025-09: MXN 47.49 per share

- 2025-10: MXN 44.20 per share

- 2025-11: MXN 43.10 per share

- 2025-12: MXN 46.08 per share

- 2026-01: MXN 48.75 per share

- 2026-02: MXN 50.14 per share

- 2026-03: MXN 50.67 per share

- 2026-04: MXN 45.65 per share

- 2026-05: MXN 42.86 per share

- 2026-06: MXN 37.90 per share

- 2026-07: MXN 40.21 per share

- 2026-08: MXN 40.66 per share

- 2026-09: MXN 36.24 per share

- 2026-10: MXN 38.95 per share

## Annual estimated value (MXN per share)

- FY2017: low MXN 4.33 per share, central MXN 4.74 per share, high MXN 5.23 per share

- FY2018: low MXN 5.63 per share, central MXN 6.15 per share, high MXN 6.79 per share

- FY2019: low MXN 7.20 per share, central MXN 7.87 per share, high MXN 8.69 per share

- FY2020: low MXN 6.05 per share, central MXN 6.62 per share, high MXN 7.31 per share

- FY2021: low MXN 13.57 per share, central MXN 14.84 per share, high MXN 16.38 per share

- FY2022: low MXN 23.12 per share, central MXN 25.28 per share, high MXN 27.90 per share

- FY2023: low MXN 33.11 per share, central MXN 44.70 per share, high MXN 49.82 per share

- FY2024: low MXN 41.77 per share, central MXN 56.38 per share, high MXN 62.84 per share

- FY2025: low MXN 41.53 per share, central MXN 45.41 per share, high MXN 50.13 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations