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FMXFomento Económico Mexicano, S.A.B. de C.V.
$122.03$41.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
FMX logo

Fomento Económico Mexicano, S.A.B. de C.V.

FMX
NYSE · Alcoholic Beverages
$122.03
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$41.57B
P/E42.1x
52W High$141.47
Volume427.61K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Post-Restructuring Growth Obscures Margin and Data Integrity Risks

FMX's recent top-line acceleration, with revenue growth reaching 24.4% YoY in Q2 2026, appears to follow a major corporate simplification that reduced total assets by over 94% from Q3 2024 levels. However, this growth is not translating into meaningful profita...

GrowthAccelerating
ProfitabilityStrained
ValuationAttractive
TechnicalsMixed
Explore valuation models
MARKET ACTION

FMX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

+50% Peers

P/E is 50% above peer median

03

Market leadership

RS 57 · Avg

Average momentum (RS Rating: 57)

04

Mixed Trend

Mixed

Price < 50DMA but > 200DMA

Next CatalystEstimated earnings · Oct 28
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has accelerated to 24.4% YoY in Q2 2026, but this has not translated to operating leverage, with the operating margin holding at 8.3% and the net margin compressing to just 2.4%.

Analyst Consensus+14.1% target
Buy(11 analysts)
8 Buy3 Hold0 Sell

The Bull Case

Upside Catalysts

Revenue Growth Momentum

FMX’s revenue has doubled over the past decade, underscoring sustained expansion. In 2025, revenue grew 7.60% year‑over‑year, indicating continued top‑line momentum.

Strong Balance Sheet

The company maintains a low debt‑to‑equity ratio and a positive net cash position, providing financial flexibility and reducing risk exposure.

Scale from Coca‑Cola Bottling & Oxxo

FMX’s operations as a Coca‑Cola bottler and its Oxxo convenience store chain drive significant revenue and profit contributions, supported by an expanding employee base.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
FMX+26.58%
S&P 500 (^GSPC)+13.20%
1-Year Return
FMX+33.78%
S&P 500 (^GSPC)+15.98%
3-Year Return
FMX+27.70%
S&P 500 (^GSPC)+80.07%
5-Year Return
FMX+62.83%
S&P 500 (^GSPC)+76.83%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
42.1x
Forward P/EExpansion
21.4x
EV/EBITDA80th %ile
7.7x
FCF YieldCash Flow
3.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
42.1x
1.4x
100th· High
EV/EBITDA
7.7x
2.6x
80th· High
Price/FCF
25.8x
4.0x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$1626.91+1233.2%
Base (Fair)$2453.69+1966.8%
Bull$4704.13+3754.9%
$1626.91 Bear$2453.69 Base$4704.13 Bull
Current Market Price: $122.03
Trades at a 95.0% discount to Base DCF ($2453.69)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$46.65B+24.4% YoY
Net income
$1.08B-15.9% YoY
Free cash flow
$1.61B+16.6% YoY
Operating margin
8.6%-0.4 pts YoY
ROIC (TTM)11.9%
Avg ROIC 5Y-
ROE (TTM)5.9%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (55%)
Revenue Beat Rate7/12 (70%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 28, 2026
$0.93+1405.1%
vs $0.06
$13.2B+2.0%
vs $12.9B
Q2 2026
Apr 30, 2026
$0.92+41.5%
vs $0.65
$11.7B+2.5%
vs $11.4B
Q1 2026
Feb 25, 2026
$0.92-38.7%
vs $1.50
$12.2B-0.0%
vs $12.2B
Q4 2025
Oct 28, 2025
$0.38-64.0%
vs $1.06
$11.7B+0.9%
vs $11.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 14, 2026
FEMSA Announces Accelerated Share Repurchase Agreement

MONTERREY, Mexico, Sept. 14, 2026 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) today announced that, as part of its ongoing efforts and consistent with its capital allocation framework and commitment to enhance capital returns to shareholders, it has entered into a new derivative instrument known as an accelerated share repurchase (“ASR”) agreement with a financial institution in the United States of America to repurchase Company's shares through the acquisition of American Depositary Shares (“ADS”). Under the terms of the ASR agreement, FEMSA has agreed to repurchase from such financial institution an aggregate amount of up to USD $280 million of its ADS1, subject to market conditions and delivered at maturity.

Defense World·Aug 24, 2026
Analyzing Fomento Economico Mexicano (NYSE:FMX) and China Fruits (OTCMKTS:CHFR)

Fomento Economico Mexicano (NYSE: FMX - Get Free Report) and China Fruits (OTCMKTS:CHFR - Get Free Report) are both consumer staples companies, but which is the better stock? We will contrast the two businesses based on the strength of their valuation, profitability, dividends, analyst recommendations, institutional ownership, earnings and risk. Profitability This table compares Fomento Economico

Zacks Investment Research·Aug 21, 2026
Will FEMSA's Digital Push Through SPIN Unlock More Growth?

FEMSA's SPIN platform gains traction as user growth, loyalty expansion and digital services strengthen its consumer ecosystem.

Fool - Investing News·Aug 20, 2026
Insider Buy Alert: FMX Director Invests in 2,100 Shares

Kahn's initial direct equity stake follows a strong one-year return for the Coca-Cola bottler and OXXO convenience store operator.

Filtered for Fomento Económico Mexicano, S.A.B. de C.V.More Headlines
04

Compare before deciding

Benchmark FMX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Fomento Económico Mexicano, S.A.B. de C.V. (FMX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FMX logoFMXFomento Económico Mexicano, S.A.B. de C.V.Current
$122.03$41.57B42.0824.44%2.31%5.9%6.77%
KO logoKOThe Coca-Cola Company
$88.61$381.24B29.151.87%28.56%40.44%—
PEP logoPEPPepsiCo, Inc.
$131.19$179.21B21.872.25%10.82%49.99%—
CCEP logoCCEPCoca-Cola Europacific Partners PLC
$102.31$45.35B21.812.27%8.36%40.86%—
COKE logoCOKECoca-Cola Consolidated, Inc.
$190.98$15B28.044.76%7.15%——
KDP logoKDPKeurig Dr Pepper Inc.
$31.51$42.87B20.598.16%7.1%5.22%—

Compare FMX vs Peers

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KO

Most directly comparable listed peer for FMX.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare FMX against a more recognizable public peer.

Peer Set

Compare Top 5

vs KO, PEP, CCEP, COKE

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FMX Frequently Asked Questions

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Fomento Económico Mexicano, S.A.B. de C.V.'s revenue?

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) reported $48.38B in revenue for fiscal year 2025. This represents a 82% increase from $26.54B in 1996.

How fast is Fomento Económico Mexicano, S.A.B. de C.V. growing?

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) grew revenue by 24.4% over the past year. This is strong growth.

Is FMX profitable?

Yes, Fomento Económico Mexicano, S.A.B. de C.V. (FMX) is profitable, generating $1.74B in net income for fiscal year 2025 (2.3% net margin).

Dividend & Returns
Does FMX pay dividends?

Yes, Fomento Económico Mexicano, S.A.B. de C.V. (FMX) pays a dividend with a yield of 6.77%. This makes it attractive for income-focused investors.

What is FMX's return on equity?

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has a return on equity (ROE) of 5.9%. This is below average, suggesting room for improvement.

What is Fomento Económico Mexicano, S.A.B. de C.V.'s free cash flow?

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) generated $11.71B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in FMX back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →