Context: How Bolsas y Mercados Argentinos (BYMA) works, and what it makes issuers disclose · Argentina on the LatAm Power Map
Leyden makes every power capacitor manufactured in Argentina — and has done so, from the same Buenos Aires factory, since 1943. That monopoly on a quiet but essential piece of electrical infrastructure is the whole story.
| Full name | Leyden S.A.I.C. y F. |
| Ticker / exchange | LEID · Bolsa de Comercio de Buenos Aires (BCBA) |
| Headquarters | Anchoris 273, Barracas, Buenos Aires, Argentina |
| Sector | Industrials — Electrical Equipment & Parts |
| Employees | 11–50 (latest available, 2024) |
| Market value | ARS 320.7 m (~USD 219,500) (our calculation) |
| Yearly sales (TTM revenue) | ARS 533.0 m (~USD 364,800) (our calculation) |
| Net profit (TTM implied) | ARS ~22.0 m (~USD 15,100) (our calculation) |
| Net margin | 4.1% |
| Return on equity | 5.3% |
| Price-to-earnings (P/E) | 15× |
| Dividend yield | Not disclosed |
| Website | leyden.com.ar |
What it is
Leyden was founded on 21 September 1943 by engineer Saúl Cervantes Bianchi, and today it is the only capacitor manufacturer in Argentina and one of only three that makes medium-voltage power capacitors in all of Latin America. A capacitor is a device that smooths and improves the quality of electric current — factories, utilities, and grid operators must use them to avoid costly penalties for inefficient power consumption.
Its core activity is making equipment for reactive compensation and harmonic filtering — essentially, tuning up the quality of electrical systems — across low, medium, and high voltage, and it also provides related technical services such as power-quality assessment. Its products reach more than 20 countries worldwide.
Who owns it
Insiders hold 68.8% of shares, leaving a public free float of roughly 31.2% (our calculation); no institutional shareholders are recorded. The company was founded by engineer Saúl Cervantes Bianchi, and the surname Bianchi recurs in available leadership records, pointing to continued founding-family control — but the exact current ownership split is not disclosed in available public sources.
Who runs it
Guillermo Bianchi serves as Presidente (chairman and chief executive) of Leyden SAIC y F, based in Buenos Aires. The Bianchi surname links the current leadership directly to the 1943 founder, suggesting unbroken family stewardship across more than eight decades.
No separate CFO is named in available sources.
The money, in plain words
Leyden takes in about ARS 533 million a year (~USD 365,000 at today’s rate) in sales, and keeps roughly 4 cents of profit from every peso of revenue — a net profit margin of 4.1%, thin by industrial standards and reflecting both Argentina’s high inflation and the company’s small, tightly-held scale. For every peso shareholders have put in, it earns about 5.3 cents a year — a return on equity of 5.3%, modest but positive in an economy where many manufacturers struggle to stay above zero.
The market values the company at about 15 times its annual earnings — a price-to-earnings ratio of 15×, which is neither cheap nor expensive for an Argentine small-cap monopoly with no disclosed debt. On the balance sheet (last full year available, 2021), it held ARS 77.9 million in cash (~USD 53,300) against no recorded debt — net cash positive (our calculation) — a conservative posture sensible in a country prone to currency crises.
Revenue nearly doubled between 2019 and 2020 (+95%, our calculation), then fell back 12.5% in 2021 (our calculation), movements that track Argentina’s inflation-swollen peso figures more than real-world demand swings.
What it is doing now
Leyden is participating in the Macrorrueda Internacional de Negocios del Sector Energético 2026, held in Bogotá, Colombia in May 2026, presenting its energy-quality product range to pursue new commercial opportunities across the region. The company has also been collaborating with Finland’s Merus Power to strengthen its energy-storage and power-quality solutions.
What to watch
- Monopoly premium vs. import risk. Being the only local capacitor maker is a durable moat — until Argentine trade policy shifts and cheaper imported units arrive at scale.
- Margin recovery. A net margin of 4.1% and ROE of 5.3% leave little cushion; any improvement in Argentina’s macro stability would flow straight to profit.
- Succession and governance. With ~69% held by insiders and a founding family still at the helm, minority shareholders have limited influence; transparency on ownership and board composition remains thin.
- Export momentum. The Bogotá trade push and the 20-country sales footprint suggest management sees Latin American grid investment as its next growth lever.
Sources
This is news, not investment advice.
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