Grupo Aval Acciones y Valores S.A. AVAL

FinancialsBanking ServicesColombia

Last close 4.43 USD on Nov 1, 2026, +12.5% year to date

Quant rating

Quant rating C Rank 137 of 304 in Financials

Growth C 158 of 304
Valuation B 55 of 304
Quality D 253 of 304
Revisions B 76 of 304
Momentum C 171 of 304

Wall Street consensus Sell (4.00)

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.5B
Enterprise value: 25.9B
52-week range: 3.35 – 6.10
3-year range: 1.94 – 6.10
Dividend yield: 3.95%
Beta (5 years): 0.62
Shares outstanding: 23,743M
Next earnings: Nov 10, 2026

About the company

Grupo Aval Acciones y Valores SA is a Colombia-based holding company primarily engaged, through its subsidiaries, in the acquisition, purchase and sale of stocks, bonds and other securities of companies active in the financial sector. The Company provides a variety of financial services and products across the Colombian market, ranging from traditional banking services, such as loans and deposits to pension and severance fund management, as well as the provision of legal representation services. The Company owns such subsidiaries as Banco de Bogota SA, Banco Popular SA, among others. Additionally, through its indirect and direct investments in other companies, the Company is present in the activities of investment baking and investments in the real sector, as well as the administrator of pension and severance funds in Colombia.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,819	6,127	7,468	4,003	3,146	–
Revenue growth	11.3%	−18.0%	86.5%	27.2%	−46.9%	2.9%
EPS (basic, normalized)	0.02	0.01	0.01	0.02	0.02	–
EPS growth	109.3%	−30.2%	−28.8%	−13.1%	−30.3%	−8.8%
Gross margin	–	–	–	–	–	–
Net margin	6.6%	3.7%	5.0%	10.9%	14.6%	8.1%
ROE	–	6.8%	4.5%	14.0%	15.1%	10.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Tier 1 risk-adjusted capital ratio	–
Long-term debt (mil)	12,900
Net debt (mil)	–
Total equity (mil)	5,457
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	6,819	+11.3%	3.8x	–	–	–	0.36	+70.5%	12.4x
2026	5,728	−16.0%	4.5x	4.74	–	0.9x	0.53	+48.0%	8.4x
2027	6,013	+5.0%	4.3x	4.93	+4.0%	0.9x	0.64	+20.8%	6.9x
2028	6,516	+8.4%	4.0x	5.19	+5.3%	0.9x	0.69	+7.8%	6.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	5,728	0.0%	+11.5%	+15.2%	0.53	0.0%	+6.0%	+10.4%
2027	6,013	0.0%	+4.3%	+12.2%	0.64	0.0%	+10.3%	+16.4%
2028	6,516	0.0%	+3.1%	–	0.69	0.0%	−1.4%	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	FQ-1	Jun 2026
Sales reported (mil)	–	814	995	776	1,060	1,059	1,121	1,482	–	3,870
Sales mean (mil)	–	998	928	1,039	1,072	1,081	1,058	1,194	–	1,262
Surprise	–	−18.4%	+7.2%	−25.3%	−1.1%	−2.0%	+6.0%	+24.1%	–	+206.6%
EPS reported	0.03	0.04	0.09	0.05	0.07	0.10	0.11	0.08	–	0.14
EPS mean	0.05	0.04	0.07	0.08	0.10	0.10	0.10	0.10	–	0.12
Surprise	−50.0%	+10.0%	+21.4%	−32.5%	−29.0%	−1.0%	+9.0%	−24.0%	–	+17.5%

Peer comparison Banking Services

Peers in the same industry group, by market capitalization
Company	Market cap	Tier 1 ratio	Net margin	Deposits/loans	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
AVAL Grupo Aval Acciones y Valores S.A.	5.5B	–	6.6%	1.13x	8.4x	6.9x	0.9x	0.9x
IDCBY Industrial and Commercial Bank of China Ltd	441.5B	–	–	–	130.8x	124.4x	11.6x	10.9x
CMWAY Commonwealth Bank of Australia	196.1B	–	–	–	25.7x	24.8x	–	–
UNCRY Unicredit, SpA	123.1B	–	39.8%	1.01x	9.8x	8.5x	–	–
MFG Mizuho Financial Group, Inc.	118.8B	–	–	1.70x	4.7x	4.1x	–	–
BNPQY BNP Paribas SA	105.5B	–	–	–	6.9x	6.2x	–	–
Mean		–	23.2%	1.28x	31.0x	29.2x	6.3x	5.9x
Median		–	23.2%	1.13x	9.1x	7.7x	6.3x	5.9x

Technical analysis

1M−7.2%
3M−8.3%
1Y+13.5%
3Y+129.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Grupo Aval Acciones y Valores S.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Interest income	6,819	6,127	7,468	4,003	3,146	5,923
Total interest expense	4,793	4,554	5,844	2,407	1,146	2,420
Net interest income	2,026	1,574	1,623	1,597	2,000	3,503
Loan loss provision	1,133	1,049	1,227	644	785	1,835
Net interest income after loan loss provision	893	525	397	953	1,215	1,667
Non-interest income	3,406	2,625	3,308	2,333	2,484	3,906
Non-interest expense	−3,072	−2,444	−2,804	−1,991	−2,133	−3,677
Net income before taxes	1,227	706	901	1,294	1,566	1,896
Provision for taxes	380	214	338	469	572	540
Minority interest & equity in affiliates	−397	−267	−191	−390	−536	−668
Other	0	0	0	0	0	0
Net income before extraordinary items	450	225	371	436	458	688
Extraordinary items	7.1	5.8	0	56.2	125	–
Net income	457	231	371	492	583	688
Basic weighted average shares (mil)	23,743	23,743	23,743	23,142	22,281	22,281
Diluted weighted average shares (mil)	23,743	23,743	23,743	23,142	22,281	22,281
Basic EPS excluding extraordinary items	0.02	0.01	0.02	0.02	0.02	0.03
Basic EPS, normalized	0.02	0.01	0.01	0.02	0.02	0.03

Balance sheet in millions of USD, fiscal years

Balance sheet, Grupo Aval Acciones y Valores S.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & due from banks	5,139	3,862	4,802	3,514	9,013	9,965
Other earning assets	17,624	13,269	12,356	8,974	13,414	13,508
Net loans	48,919	43,192	45,491	36,954	54,188	57,268
Property, plant & equipment	2,551	1,646	1,807	1,493	2,239	2,628
Goodwill	546	505	569	464	2,088	2,259
Intangibles	4,368	3,878	4,116	3,153	3,194	3,166
Long-term investments	349	325	333	294	288	301
Other long-term assets	5,211	394	357	401	485	323
Other assets	7,949	7,410	7,942	5,738	5,341	5,147
Total assets	92,656	74,480	77,773	60,984	90,250	94,566
Liabilities
Accounts payable	934	739	897	578	794	622
Payable/accrued	–	–	–	–	–	–
Accrued expenses	118	100	99.5	87.8	136	135
Total deposits	55,074	45,632	46,994	35,763	57,674	62,042
Other bearing liabilities	–	–	–	–	–	–
Short-term borrowings	6,016	4,205	3,895	1,875	2,625	2,103
Current portion of long-term debt	–	–	–	–	–	–
Long-term debt	12,219	12,339	13,030	13,004	15,401	15,067
Minority interest	4,327	3,569	3,806	2,962	4,048	4,329
Other liabilities	9,069	3,931	4,719	3,318	3,911	4,218
Total liabilities	87,758	70,516	73,439	57,587	84,589	88,516
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	6.3	5.4	6.1	4.9	5.5	6.5
Additional paid-in capital	2,523	2,160	2,472	1,975	2,089	2,481
Retained earnings (accumulated deficit)	2,454	1,854	1,997	1,654	3,292	3,310
Treasury stock	–	–	–	–	–	–
Other equity	−85.5	−55.4	−141	−237	275	252
Total equity	4,898	3,964	4,334	3,397	5,661	6,050
Total liabilities & shareholders' equity	92,656	74,480	77,773	60,984	90,250	94,566

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Grupo Aval Acciones y Valores S.A., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,227	713	901	1,294	2,096	1,896
Depreciation, depletion & amortization	363	290	297	225	356	410
Deferred taxes	–	–	–	–	–	–
Non-cash items	−3,703	−2,345	−3,470	−2,435	−4,320	−4,738
Changes in working capital	4,180	1,520	3,823	582	3,320	5,366
Cash from operations	2,068	178	1,551	−333	1,452	2,935
Investing activities
Capital expenditures	−343	−300	−335	−236	−310	−357
Other investing cash flows	−37.4	−414	811	−2,448	−1,314	−1,865
Cash from investing	−380	−714	475	−2,685	−1,624	−2,222
Financing activities
Financing cash flow items	−166	−164	−237	−130	−225	−292
Cash dividends paid	−166	−165	−198	−85.5	−303	−390
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−376	19.9	−479	−1,553	196	800
Cash from financing	−708	−310	−913	−1,768	−331	118
Foreign exchange effects	−354	482	−709	740	1,147	313
Net change in cash	626	−363	404	−4,046	644	1,145
Free cash flow	1,725	−122	1,215	−570	1,141	2,578

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.