Betterware de México, S.A.P.I. de C.V. (BWMX) 10-Year Financial Performance & Capital Metrics

BWMX •

Consumer CyclicalSpecialty RetailHome Furnishings and Decor Retail

AboutBetterware de México, S.A.P.I. de C.V. operates as a direct-to-consumer company in Mexico. It focuses on the home organization segment with a product portfolio, including home solutions, kitchen and food preservation, technology and mobility, bedroom, bathroom, laundry and cleaning, and other categories. The company sells its products through twelve catalogues. Betterware de México, S.A.P.I. de C.V. was incorporated in 1995 and is based in Zapopan, Mexico. Betterware de México, S.A.P.I. de C.V. is a subsidiary of Campalier, S.A. de C.V.Show more

Revenue $14.1B +8.4%
EBITDA $2.08B -23.6%
Net Income $712M -32.2%
EPS (Diluted) 19.07 -32.3%
Gross Margin 67.94% -5.0%
EBITDA Margin 14.74% -29.5%
Operating Margin 11.96% -33.7%
Net Margin 5.05% -37.4%
ROE 54.01% -33.9%
ROIC 20.29% -24.2%
Debt/Equity 4.45 +19.0%
Interest Coverage 2.64 -7.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 70.5%
✓Momentum leader: RS Rating 85 (top 15%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 35.5%
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗High debt to equity ratio of 4.4x
✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y35.52%

3Y11.88%

TTM3.6%

Profit (Net Income) CAGR

10Y-

5Y8.55%

3Y-25.93%

TTM15.8%

EPS CAGR

10Y-

5Y6.84%

3Y-25.92%

TTM14.95%

ROCE

10Y Avg74.5%

5Y Avg77.51%

3Y Avg30.82%

Latest25.07%

Peer Comparison

Home Furnishings and Decor Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHRh	3.1B	165.71	45.78	5.01%	3.22%	32.85%
WSMWilliams-Sonoma, Inc.	25.32B	205.65	23.40	-0.5%	13.97%	53.45%	4.5%	0.63
BWMXBetterware de México, S.A.P.I. de C.V.	618.34M	16.57	14.97	8.39%	7.21%	79.36%	15.03%	4.45
TBHCThe Brand House Collective, Inc.	24.26M	1.08	-0.61	-5.83%	-7.56%
BBBYBed Bath & Beyond Inc.	367.04M	5.33	-3.78	-25.12%	-8.1%	-38.83%		0.10
DIBS1stdibs.Com, Inc.	176.12M	4.81	-9.82	4.22%	-19.94%	-18.97%		0.22
WWayfair Inc.	9.92B	76.33	-31.54	5.11%	-2.66%		4.68%

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.45B	2.32B	3.08B	7.24B	10.07B	11.51B	13.01B	14.1B
Revenue Growth %	-	59.81%	33.15%	134.63%	39.1%	14.3%	13.05%	8.39%
Cost of Goods Sold+	558.11M	958.47M	1.28B	3.28B	4.5B	3.98B	3.7B	4.52B
COGS % of Revenue	38.5%	41.37%	41.52%	45.32%	44.68%	34.62%	28.45%	32.06%
Gross Profit+	891.6M	1.36B	1.8B	3.96B	5.57B	7.52B	9.31B	9.58B
Gross Margin %	61.5%	58.63%	58.48%	54.68%	55.32%	65.38%	71.55%	67.94%
Gross Profit Growth %	-	52.34%	32.81%	119.38%	40.74%	35.09%	23.71%	2.93%
Operating Expenses+	560.74M	806.5M	991.59M	1.89B	2.97B	5.5B	6.96B	7.89B
OpEx % of Revenue	38.68%	34.81%	32.15%	26.17%	29.48%	47.76%	53.52%	55.99%
Selling, General & Admin	560.74M	806.5M	991.59M	1.89B	2.97B	5.47B	6.96B	6.85B
SG&A % of Revenue	38.68%	34.81%	32.15%	26.17%	29.48%	47.57%	53.52%	48.55%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	21.86M	0	1.05B
Operating Income+	330.86M	551.75M	812.25M	2.06B	2.6B	2.03B	2.35B	1.69B
Operating Margin %	22.82%	23.82%	26.33%	28.51%	25.84%	17.63%	18.03%	11.96%
Operating Income Growth %	-	66.76%	47.21%	154.03%	26.1%	-22.04%	15.65%	-28.12%
EBITDA+	355.07M	577.71M	850.64M	2.11B	2.68B	2.32B	2.72B	2.08B
EBITDA Margin %	24.49%	24.94%	27.58%	29.11%	26.66%	20.13%	20.91%	14.74%
EBITDA Growth %	-	62.7%	47.24%	147.7%	27.38%	-13.71%	17.48%	-23.61%
D&A (Non-Cash Add-back)	24.21M	25.96M	38.39M	43.69M	82.12M	287.7M	375.13M	392.19M
EBIT	422.83M	535.79M	790.26M	904.36M	2.64B	1.93B	2.25B	1.82B
Net Interest Income+	-97.45M	-79.64M	-78.4M	-69.32M	-49.95M	-514.63M	-775.21M	-616.89M
Interest Income	20.75M	6.71M	7.03M	10.93M	25.87M	28.69M	45.06M	22.82M
Interest Expense	118.2M	86.34M	85.43M	80.25M	75.82M	543.32M	820.26M	639.71M
Other Income/Expense	-26.24M	-102.3M	-107.41M	-1.24B	-39.37M	-641.52M	-914.64M	-505.43M
Pretax Income+	304.63M	449.45M	704.83M	824.11M	2.56B	1.39B	1.43B	1.18B
Pretax Margin %	21.01%	19.4%	22.85%	11.39%	25.45%	12.05%	11%	8.37%
Income Tax+	96.95M	150.18M	232.69M	525.66M	814.56M	516.92M	384.38M	469.26M
Effective Tax Rate %	68.17%	66.59%	66.99%	36.21%	68.36%	62.91%	73.33%	60.28%
Net Income+	207.67M	299.27M	472.14M	298.44M	1.75B	872.56M	1.05B	711.73M
Net Margin %	14.33%	12.92%	15.31%	4.12%	17.4%	7.58%	8.07%	5.05%
Net Income Growth %	-	44.1%	57.77%	-36.79%	486.93%	-50.19%	20.27%	-32.18%
Net Income (Continuing)	207.67M	299.27M	472.14M	298.44M	1.75B	869.96M	1.05B	711.52M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	14.65M	1.18M	-1.63M	-1.72M
EPS (Diluted)+	25.11	8.69	13.70	8.68	46.91	21.38	28.16	19.07
EPS Growth %	-	-65.39%	57.65%	-36.64%	440.44%	-54.42%	31.71%	-32.28%
EPS (Basic)	25.11	8.69	13.70	8.76	47.38	21.57	28.18	19.07
Diluted Shares Outstanding	8.27M	34.45M	34.45M	34.38M	37.34M	34.38M	37.32M	37.32M
Basic Shares Outstanding	8.27M	34.45M	34.45M	34.08M	37.32M	34.38M	37.24M	37.32M
Dividend Payout Ratio	-	78.57%	72.64%	278.11%	79.92%	108.83%	61.82%	140.23%

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	559.95M	729.85M	880.71M	2.85B	3.35B	4.36B	3.99B	4.63B
Cash & Short-Term Investments	230.85M	177.38M	213.7M	649.82M	1.18B	815.64M	549.73M	296.56M
Cash Only	230.85M	177.38M	213.7M	649.82M	1.18B	815.64M	549.73M	296.56M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	147.96M	198.78M	247.7M	735.03M	745.62M	1.18B	1.1B	1.23B
Days Sales Outstanding	37.25	31.32	29.31	37.07	27.03	37.3	30.92	31.88
Inventory	147.24M	302.21M	345.55M	1.28B	1.29B	2.12B	2.03B	2.51B
Days Inventory Outstanding	96.3	115.08	98.47	142.94	104.37	194.49	200.24	202.28
Other Current Assets	33.9M	9.2M	20.57M	130.42M	110.18M	188.27M	230.69M	507.8M
Total Non-Current Assets+	727.49M	727.75M	909.02M	1.51B	1.83B	6.98B	7.1B	5.83B
Property, Plant & Equipment	57.16M	42.97M	231.16M	816.01M	1.09B	3.27B	3.27B	2.12B
Fixed Asset Turnover	25.36x	53.91x	13.34x	8.87x	9.26x	3.52x	3.98x	6.67x
Goodwill	348.44M	348.44M	348.44M	348.44M	371.07M	1.6B	1.6B	1.6B
Intangible Assets	300.47M	312.1M	310.96M	319.36M	369.76M	1.74B	1.65B	1.57B
Long-Term Investments	0	0	0	0	497K	1.24M	0	0
Other Non-Current Assets	21.42M	24.24M	13.37M	5.77M	4.27M	46.67M	577.33M	14.5M
Total Assets+	1.29B	1.46B	1.79B	4.36B	5.19B	11.33B	11.09B	10.45B
Asset Turnover	1.13x	1.59x	1.72x	1.66x	1.94x	1.02x	1.17x	1.35x
Asset Growth %	-	13.22%	22.79%	143.6%	18.94%	118.56%	-2.16%	-5.72%
Total Current Liabilities+	437.3M	734.44M	878.36M	2.87B	2.45B	3.12B	3.83B	4.26B
Accounts Payable	10.79M	445.24M	529.35M	2.08B	1.98B	1.47B	1.79B	2.16B
Days Payables Outstanding	7.06	169.55	150.85	231.29	161.07	134.57	176.52	174.25
Short-Term Debt	46.22M	90.69M	148.07M	105.91M	28.12M	230.42M	508.73M	656.08M
Deferred Revenue (Current)	0	46.64M	171.16M	0	0	0	0	0
Other Current Liabilities	180.01M	50.21M	67.25M	449.09M	118.47M	808.74M	852.67M	888.17M
Current Ratio	1.28x	0.99x	1.00x	0.99x	1.37x	1.39x	1.04x	1.09x
Quick Ratio	0.94x	0.58x	0.61x	0.55x	0.84x	0.71x	0.51x	0.50x
Cash Conversion Cycle	126.49	-23.15	-23.07	-51.27	-29.67	97.23	54.64	59.91
Total Non-Current Liabilities+	671.37M	642.89M	636.89M	607.36M	1.54B	7.11B	5.79B	5.03B
Long-Term Debt	591.16M	562.79M	529.64M	523.97M	1.48B	5.92B	4.62B	4.17B
Capital Lease Obligations	0	0	10.36M	16.69M	11.78M	206.51M	255.88M	234.34M
Deferred Tax Liabilities	0	70.63M	78.5M	39.85M	38.98M	833.56M	0	495.12M
Other Non-Current Liabilities	80.2M	80.1M	18.38M	26.86M	2.09M	153.91M	910.32M	128.31M
Total Liabilities	1.11B	1.38B	1.52B	3.48B	3.99B	10.24B	9.62B	9.29B
Total Debt+	637.38M	653.48M	702.3M	654.25M	1.53B	6.44B	5.5B	5.17B
Net Debt	406.52M	476.1M	488.6M	4.43M	353.07M	5.62B	4.95B	4.87B
Debt / Equity	3.57x	8.14x	2.56x	0.74x	1.27x	5.87x	3.74x	4.45x
Debt / EBITDA	1.80x	1.13x	0.83x	0.31x	0.57x	2.78x	2.02x	2.49x
Net Debt / EBITDA	1.14x	0.82x	0.57x	0.00x	0.13x	2.43x	1.82x	2.34x
Interest Coverage	2.80x	6.39x	9.51x	25.71x	34.32x	3.73x	2.86x	2.64x
Total Equity+	178.78M	80.26M	274.48M	881.98M	1.2B	1.1B	1.47B	1.16B
Equity Growth %	-	-55.1%	241.97%	221.32%	36.08%	-8.58%	34.24%	-21.07%
Book Value per Share	21.61	2.33	7.97	25.65	32.15	31.91	39.47	31.15
Total Shareholders' Equity	178.78M	80.26M	274.48M	881.98M	1.19B	1.1B	1.47B	1.16B
Common Stock	153.85M	55.98M	55.98M	308.04M	321.31M	321.31M	321.31M	321.31M
Retained Earnings	25.05M	24.23M	218.38M	-334.77M	856.99M	779.94M	1.19B	892.4M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-120K	45K	121K	-718K	583K	7.51M	-19.19M	-24.08M
Minority Interest	0	0	0	0	14.65M	1.18M	-1.63M	-1.72M

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	372.69M	338.21M	605.45M	1.82B	1.47B	1.27B	2.37B	1.82B
Operating CF Margin %	25.71%	14.6%	19.63%	25.18%	14.56%	11%	18.19%	12.93%
Operating CF Growth %	-	-9.25%	79.01%	200.98%	-19.57%	-13.62%	86.95%	-22.94%
Net Income	207.67M	299.27M	472.14M	298.44M	1.75B	732.55M	1.05B	711.52M
Depreciation & Amortization	24.21M	25.96M	38.39M	43.69M	82.12M	358.11M	375.13M	392.19M
Stock-Based Compensation	0	0	0	32.91M	0	5.99M	4.19M	-8.89M
Deferred Taxes	96.95M	150.18M	232.69M	525.66M	814.56M	480.79M	384.38M	469.26M
Other Non-Cash Items	97.45M	79.64M	-129.78M	690.98M	-1.11B	32.93M	291.63M	571.91M
Working Capital Changes	10.63M	-8.16M	-8.01M	230.57M	-72.57M	-344.29M	261.99M	-312.23M
Change in Receivables	-28.63M	-50.82M	-48.92M	-487.33M	-21.37M	305.21M	-101.44M	-60.78M
Change in Inventory	-34.81M	-160.31M	-43.35M	-939.12M	4.89M	236.06M	92.14M	-470.96M
Change in Payables	80.11M	238.93M	101.86M	1.6B	-64.7M	-828.62M	326.25M	421.43M
Cash from Investing+	-31.51M	13.55M	-175.6M	-631.4M	-320.38M	-4.81B	-65.33M	-31.91M
Capital Expenditures	-33.67M	-21.27M	-182.63M	-617.69M	-401.74M	-169.65M	-131.07M	-222.33M
CapEx % of Revenue	2.32%	0.92%	5.92%	8.53%	3.99%	1.47%	1.01%	1.58%
Acquisitions	0	0	0	0	50K	-4.7B	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	2.16M	34.82M	7.03M	-13.71M	81.31M	59.47M	65.74M	190.42M
Cash from Financing+	-316.51M	-405.24M	-393.54M	-754.73M	-619.84M	3.06B	-2.57B	-2.05B
Debt Issued (Net)	-153.99M	14.91M	9.13M	-53.73M	866.38M	4.62B	-1.26B	-443.57M
Equity Issued (Net)	0	0	0	1000K	0	-1000K	0	0
Dividends Paid	0	-235.12M	-342.95M	-830M	-1.4B	-949.61M	-648.74M	-998.05M
Share Repurchases	0	-97.87M	0	0	0	-25.32M	0	0
Other Financing	-162.52M	-185.03M	-59.71M	-121.3M	-86.23M	-591.57M	-660.67M	-603.39M
Net Change in Cash	24.67M	-53.47M	36.31M	436.12M	525.38M	-489.05M	-265.91M	-253.17M
Free Cash Flow+	339.02M	316.95M	422.82M	1.2B	1.06B	1.1B	2.24B	1.6B
FCF Margin %	23.39%	13.68%	13.71%	16.64%	10.57%	9.53%	17.19%	11.36%
FCF Growth %	-	-6.51%	33.4%	184.89%	-11.68%	3.06%	103.92%	-28.37%
FCF per Share	40.99	9.20	12.27	35.03	28.49	31.89	59.91	42.91
FCF Conversion (FCF/Net Income)	1.79x	1.13x	1.28x	6.11x	0.84x	1.45x	2.26x	2.56x
Interest Paid	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	116.16%	231.06%	266.19%	51.61%	168.25%	75.96%	81.66%	54.01%
Return on Invested Capital (ROIC)	42.4%	72.49%	92.34%	187.63%	159.97%	36.77%	26.76%	20.29%
Gross Margin	61.5%	58.63%	58.48%	54.68%	55.32%	65.38%	71.55%	67.94%
Net Margin	14.33%	12.92%	15.31%	4.12%	17.4%	7.58%	8.07%	5.05%
Debt / Equity	3.57x	8.14x	2.56x	0.74x	1.27x	5.87x	3.74x	4.45x
Interest Coverage	2.80x	6.39x	9.51x	25.71x	34.32x	3.73x	2.86x	2.64x
FCF Conversion	1.79x	1.13x	1.28x	6.11x	0.84x	1.45x	2.26x	2.56x
Revenue Growth	-	59.81%	33.15%	134.63%	39.1%	14.3%	13.05%	8.39%

US Stock Screener

...

Betterware de México, S.A.P.I. de C.V. (BWMX) 10-Year Financial Performance & Capital Metrics

BWMX •

Consumer CyclicalSpecialty RetailHome Furnishings and Decor Retail

Revenue $14.1B +8.4%
EBITDA $2.08B -23.6%
Net Income $712M -32.2%
EPS (Diluted) 19.07 -32.3%
Gross Margin 67.94% -5.0%
EBITDA Margin 14.74% -29.5%
Operating Margin 11.96% -33.7%
Net Margin 5.05% -37.4%
ROE 54.01% -33.9%
ROIC 20.29% -24.2%
Debt/Equity 4.45 +19.0%
Interest Coverage 2.64 -7.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 70.5%
✓Momentum leader: RS Rating 85 (top 15%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 35.5%
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗High debt to equity ratio of 4.4x
✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y35.52%

3Y11.88%

TTM3.6%

Profit (Net Income) CAGR

10Y-

5Y8.55%

3Y-25.93%

TTM15.8%

EPS CAGR

10Y-

5Y6.84%

3Y-25.92%

TTM14.95%

ROCE

10Y Avg74.5%

5Y Avg77.51%

3Y Avg30.82%

Latest25.07%

Peer Comparison

Home Furnishings and Decor Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RHRh	3.1B	165.71	45.78	5.01%	3.22%	32.85%
WSMWilliams-Sonoma, Inc.	25.32B	205.65	23.40	-0.5%	13.97%	53.45%	4.5%	0.63
BWMXBetterware de México, S.A.P.I. de C.V.	618.34M	16.57	14.97	8.39%	7.21%	79.36%	15.03%	4.45
TBHCThe Brand House Collective, Inc.	24.26M	1.08	-0.61	-5.83%	-7.56%
BBBYBed Bath & Beyond Inc.	367.04M	5.33	-3.78	-25.12%	-8.1%	-38.83%		0.10
DIBS1stdibs.Com, Inc.	176.12M	4.81	-9.82	4.22%	-19.94%	-18.97%		0.22
WWayfair Inc.	9.92B	76.33	-31.54	5.11%	-2.66%		4.68%

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.45B	2.32B	3.08B	7.24B	10.07B	11.51B	13.01B	14.1B
Revenue Growth %	-	59.81%	33.15%	134.63%	39.1%	14.3%	13.05%	8.39%
Cost of Goods Sold+	558.11M	958.47M	1.28B	3.28B	4.5B	3.98B	3.7B	4.52B
COGS % of Revenue	38.5%	41.37%	41.52%	45.32%	44.68%	34.62%	28.45%	32.06%
Gross Profit+	891.6M	1.36B	1.8B	3.96B	5.57B	7.52B	9.31B	9.58B
Gross Margin %	61.5%	58.63%	58.48%	54.68%	55.32%	65.38%	71.55%	67.94%
Gross Profit Growth %	-	52.34%	32.81%	119.38%	40.74%	35.09%	23.71%	2.93%
Operating Expenses+	560.74M	806.5M	991.59M	1.89B	2.97B	5.5B	6.96B	7.89B
OpEx % of Revenue	38.68%	34.81%	32.15%	26.17%	29.48%	47.76%	53.52%	55.99%
Selling, General & Admin	560.74M	806.5M	991.59M	1.89B	2.97B	5.47B	6.96B	6.85B
SG&A % of Revenue	38.68%	34.81%	32.15%	26.17%	29.48%	47.57%	53.52%	48.55%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	21.86M	0	1.05B
Operating Income+	330.86M	551.75M	812.25M	2.06B	2.6B	2.03B	2.35B	1.69B
Operating Margin %	22.82%	23.82%	26.33%	28.51%	25.84%	17.63%	18.03%	11.96%
Operating Income Growth %	-	66.76%	47.21%	154.03%	26.1%	-22.04%	15.65%	-28.12%
EBITDA+	355.07M	577.71M	850.64M	2.11B	2.68B	2.32B	2.72B	2.08B
EBITDA Margin %	24.49%	24.94%	27.58%	29.11%	26.66%	20.13%	20.91%	14.74%
EBITDA Growth %	-	62.7%	47.24%	147.7%	27.38%	-13.71%	17.48%	-23.61%
D&A (Non-Cash Add-back)	24.21M	25.96M	38.39M	43.69M	82.12M	287.7M	375.13M	392.19M
EBIT	422.83M	535.79M	790.26M	904.36M	2.64B	1.93B	2.25B	1.82B
Net Interest Income+	-97.45M	-79.64M	-78.4M	-69.32M	-49.95M	-514.63M	-775.21M	-616.89M
Interest Income	20.75M	6.71M	7.03M	10.93M	25.87M	28.69M	45.06M	22.82M
Interest Expense	118.2M	86.34M	85.43M	80.25M	75.82M	543.32M	820.26M	639.71M
Other Income/Expense	-26.24M	-102.3M	-107.41M	-1.24B	-39.37M	-641.52M	-914.64M	-505.43M
Pretax Income+	304.63M	449.45M	704.83M	824.11M	2.56B	1.39B	1.43B	1.18B
Pretax Margin %	21.01%	19.4%	22.85%	11.39%	25.45%	12.05%	11%	8.37%
Income Tax+	96.95M	150.18M	232.69M	525.66M	814.56M	516.92M	384.38M	469.26M
Effective Tax Rate %	68.17%	66.59%	66.99%	36.21%	68.36%	62.91%	73.33%	60.28%
Net Income+	207.67M	299.27M	472.14M	298.44M	1.75B	872.56M	1.05B	711.73M
Net Margin %	14.33%	12.92%	15.31%	4.12%	17.4%	7.58%	8.07%	5.05%
Net Income Growth %	-	44.1%	57.77%	-36.79%	486.93%	-50.19%	20.27%	-32.18%
Net Income (Continuing)	207.67M	299.27M	472.14M	298.44M	1.75B	869.96M	1.05B	711.52M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	14.65M	1.18M	-1.63M	-1.72M
EPS (Diluted)+	25.11	8.69	13.70	8.68	46.91	21.38	28.16	19.07
EPS Growth %	-	-65.39%	57.65%	-36.64%	440.44%	-54.42%	31.71%	-32.28%
EPS (Basic)	25.11	8.69	13.70	8.76	47.38	21.57	28.18	19.07
Diluted Shares Outstanding	8.27M	34.45M	34.45M	34.38M	37.34M	34.38M	37.32M	37.32M
Basic Shares Outstanding	8.27M	34.45M	34.45M	34.08M	37.32M	34.38M	37.24M	37.32M
Dividend Payout Ratio	-	78.57%	72.64%	278.11%	79.92%	108.83%	61.82%	140.23%

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	559.95M	729.85M	880.71M	2.85B	3.35B	4.36B	3.99B	4.63B
Cash & Short-Term Investments	230.85M	177.38M	213.7M	649.82M	1.18B	815.64M	549.73M	296.56M
Cash Only	230.85M	177.38M	213.7M	649.82M	1.18B	815.64M	549.73M	296.56M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	147.96M	198.78M	247.7M	735.03M	745.62M	1.18B	1.1B	1.23B
Days Sales Outstanding	37.25	31.32	29.31	37.07	27.03	37.3	30.92	31.88
Inventory	147.24M	302.21M	345.55M	1.28B	1.29B	2.12B	2.03B	2.51B
Days Inventory Outstanding	96.3	115.08	98.47	142.94	104.37	194.49	200.24	202.28
Other Current Assets	33.9M	9.2M	20.57M	130.42M	110.18M	188.27M	230.69M	507.8M
Total Non-Current Assets+	727.49M	727.75M	909.02M	1.51B	1.83B	6.98B	7.1B	5.83B
Property, Plant & Equipment	57.16M	42.97M	231.16M	816.01M	1.09B	3.27B	3.27B	2.12B
Fixed Asset Turnover	25.36x	53.91x	13.34x	8.87x	9.26x	3.52x	3.98x	6.67x
Goodwill	348.44M	348.44M	348.44M	348.44M	371.07M	1.6B	1.6B	1.6B
Intangible Assets	300.47M	312.1M	310.96M	319.36M	369.76M	1.74B	1.65B	1.57B
Long-Term Investments	0	0	0	0	497K	1.24M	0	0
Other Non-Current Assets	21.42M	24.24M	13.37M	5.77M	4.27M	46.67M	577.33M	14.5M
Total Assets+	1.29B	1.46B	1.79B	4.36B	5.19B	11.33B	11.09B	10.45B
Asset Turnover	1.13x	1.59x	1.72x	1.66x	1.94x	1.02x	1.17x	1.35x
Asset Growth %	-	13.22%	22.79%	143.6%	18.94%	118.56%	-2.16%	-5.72%
Total Current Liabilities+	437.3M	734.44M	878.36M	2.87B	2.45B	3.12B	3.83B	4.26B
Accounts Payable	10.79M	445.24M	529.35M	2.08B	1.98B	1.47B	1.79B	2.16B
Days Payables Outstanding	7.06	169.55	150.85	231.29	161.07	134.57	176.52	174.25
Short-Term Debt	46.22M	90.69M	148.07M	105.91M	28.12M	230.42M	508.73M	656.08M
Deferred Revenue (Current)	0	46.64M	171.16M	0	0	0	0	0
Other Current Liabilities	180.01M	50.21M	67.25M	449.09M	118.47M	808.74M	852.67M	888.17M
Current Ratio	1.28x	0.99x	1.00x	0.99x	1.37x	1.39x	1.04x	1.09x
Quick Ratio	0.94x	0.58x	0.61x	0.55x	0.84x	0.71x	0.51x	0.50x
Cash Conversion Cycle	126.49	-23.15	-23.07	-51.27	-29.67	97.23	54.64	59.91
Total Non-Current Liabilities+	671.37M	642.89M	636.89M	607.36M	1.54B	7.11B	5.79B	5.03B
Long-Term Debt	591.16M	562.79M	529.64M	523.97M	1.48B	5.92B	4.62B	4.17B
Capital Lease Obligations	0	0	10.36M	16.69M	11.78M	206.51M	255.88M	234.34M
Deferred Tax Liabilities	0	70.63M	78.5M	39.85M	38.98M	833.56M	0	495.12M
Other Non-Current Liabilities	80.2M	80.1M	18.38M	26.86M	2.09M	153.91M	910.32M	128.31M
Total Liabilities	1.11B	1.38B	1.52B	3.48B	3.99B	10.24B	9.62B	9.29B
Total Debt+	637.38M	653.48M	702.3M	654.25M	1.53B	6.44B	5.5B	5.17B
Net Debt	406.52M	476.1M	488.6M	4.43M	353.07M	5.62B	4.95B	4.87B
Debt / Equity	3.57x	8.14x	2.56x	0.74x	1.27x	5.87x	3.74x	4.45x
Debt / EBITDA	1.80x	1.13x	0.83x	0.31x	0.57x	2.78x	2.02x	2.49x
Net Debt / EBITDA	1.14x	0.82x	0.57x	0.00x	0.13x	2.43x	1.82x	2.34x
Interest Coverage	2.80x	6.39x	9.51x	25.71x	34.32x	3.73x	2.86x	2.64x
Total Equity+	178.78M	80.26M	274.48M	881.98M	1.2B	1.1B	1.47B	1.16B
Equity Growth %	-	-55.1%	241.97%	221.32%	36.08%	-8.58%	34.24%	-21.07%
Book Value per Share	21.61	2.33	7.97	25.65	32.15	31.91	39.47	31.15
Total Shareholders' Equity	178.78M	80.26M	274.48M	881.98M	1.19B	1.1B	1.47B	1.16B
Common Stock	153.85M	55.98M	55.98M	308.04M	321.31M	321.31M	321.31M	321.31M
Retained Earnings	25.05M	24.23M	218.38M	-334.77M	856.99M	779.94M	1.19B	892.4M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-120K	45K	121K	-718K	583K	7.51M	-19.19M	-24.08M
Minority Interest	0	0	0	0	14.65M	1.18M	-1.63M	-1.72M

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	372.69M	338.21M	605.45M	1.82B	1.47B	1.27B	2.37B	1.82B
Operating CF Margin %	25.71%	14.6%	19.63%	25.18%	14.56%	11%	18.19%	12.93%
Operating CF Growth %	-	-9.25%	79.01%	200.98%	-19.57%	-13.62%	86.95%	-22.94%
Net Income	207.67M	299.27M	472.14M	298.44M	1.75B	732.55M	1.05B	711.52M
Depreciation & Amortization	24.21M	25.96M	38.39M	43.69M	82.12M	358.11M	375.13M	392.19M
Stock-Based Compensation	0	0	0	32.91M	0	5.99M	4.19M	-8.89M
Deferred Taxes	96.95M	150.18M	232.69M	525.66M	814.56M	480.79M	384.38M	469.26M
Other Non-Cash Items	97.45M	79.64M	-129.78M	690.98M	-1.11B	32.93M	291.63M	571.91M
Working Capital Changes	10.63M	-8.16M	-8.01M	230.57M	-72.57M	-344.29M	261.99M	-312.23M
Change in Receivables	-28.63M	-50.82M	-48.92M	-487.33M	-21.37M	305.21M	-101.44M	-60.78M
Change in Inventory	-34.81M	-160.31M	-43.35M	-939.12M	4.89M	236.06M	92.14M	-470.96M
Change in Payables	80.11M	238.93M	101.86M	1.6B	-64.7M	-828.62M	326.25M	421.43M
Cash from Investing+	-31.51M	13.55M	-175.6M	-631.4M	-320.38M	-4.81B	-65.33M	-31.91M
Capital Expenditures	-33.67M	-21.27M	-182.63M	-617.69M	-401.74M	-169.65M	-131.07M	-222.33M
CapEx % of Revenue	2.32%	0.92%	5.92%	8.53%	3.99%	1.47%	1.01%	1.58%
Acquisitions	0	0	0	0	50K	-4.7B	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	2.16M	34.82M	7.03M	-13.71M	81.31M	59.47M	65.74M	190.42M
Cash from Financing+	-316.51M	-405.24M	-393.54M	-754.73M	-619.84M	3.06B	-2.57B	-2.05B
Debt Issued (Net)	-153.99M	14.91M	9.13M	-53.73M	866.38M	4.62B	-1.26B	-443.57M
Equity Issued (Net)	0	0	0	1000K	0	-1000K	0	0
Dividends Paid	0	-235.12M	-342.95M	-830M	-1.4B	-949.61M	-648.74M	-998.05M
Share Repurchases	0	-97.87M	0	0	0	-25.32M	0	0
Other Financing	-162.52M	-185.03M	-59.71M	-121.3M	-86.23M	-591.57M	-660.67M	-603.39M
Net Change in Cash	24.67M	-53.47M	36.31M	436.12M	525.38M	-489.05M	-265.91M	-253.17M
Free Cash Flow+	339.02M	316.95M	422.82M	1.2B	1.06B	1.1B	2.24B	1.6B
FCF Margin %	23.39%	13.68%	13.71%	16.64%	10.57%	9.53%	17.19%	11.36%
FCF Growth %	-	-6.51%	33.4%	184.89%	-11.68%	3.06%	103.92%	-28.37%
FCF per Share	40.99	9.20	12.27	35.03	28.49	31.89	59.91	42.91
FCF Conversion (FCF/Net Income)	1.79x	1.13x	1.28x	6.11x	0.84x	1.45x	2.26x	2.56x
Interest Paid	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	116.16%	231.06%	266.19%	51.61%	168.25%	75.96%	81.66%	54.01%
Return on Invested Capital (ROIC)	42.4%	72.49%	92.34%	187.63%	159.97%	36.77%	26.76%	20.29%
Gross Margin	61.5%	58.63%	58.48%	54.68%	55.32%	65.38%	71.55%	67.94%
Net Margin	14.33%	12.92%	15.31%	4.12%	17.4%	7.58%	8.07%	5.05%
Debt / Equity	3.57x	8.14x	2.56x	0.74x	1.27x	5.87x	3.74x	4.45x
Interest Coverage	2.80x	6.39x	9.51x	25.71x	34.32x	3.73x	2.86x	2.64x
FCF Conversion	1.79x	1.13x	1.28x	6.11x	0.84x	1.45x	2.26x	2.56x
Revenue Growth	-	59.81%	33.15%	134.63%	39.1%	14.3%	13.05%	8.39%

Betterware de México, S.A.P.I. de C.V. (BWMX) 10-Year Financial Performance & Capital Metrics

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Betterware de México, S.A.P.I. de C.V. (BWMX) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare BWMX vs Peers

vs WSM

vs W

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