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Fomento Económico Mexicano, S.A.B. de C.V. (FMX) 10-Year Financial Performance & Capital Metrics

FMX • • Industrial / General
Consumer DefensiveAlcoholic BeveragesRegional Beverage ConglomeratesLatin American Beer & Beverage Leaders
AboutFomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. It also operates small-box retail chain stores in Mexico, Colombia, Peru, Chile, and Brazil under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, SanaSana, YZA, La Moderna, and Farmacon names. In addition, the company is involved in the production and distribution of chillers, commercial refrigeration equipment, plastic boxes, food processing, and preservation and weighing equipment; and provision of logistic transportation, distribution and maintenance, point-of-sale refrigeration, and plastics solutions, as well as distribution platform for cleaning products and consumables. As of December 31, 2021, it operated 20,431 OXXO stores; 3,652 drugstores; and 567 OXXO GAS service stations. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is based in Monterrey, Mexico.Show more
  • Revenue $890.08B +29.8%
  • EBITDA $124.99B +40.2%
  • Net Income $25.7B -59.9%
  • EPS (Diluted) 739.40 -58.7%
  • Gross Margin 40.81% +3.4%
  • EBITDA Margin 14.04% +8.0%
  • Operating Margin 9.01% +10.4%
  • Net Margin 2.89% -69.1%
  • ROE 6.77% -62.2%
  • ROIC 12.75% +49.7%
  • Debt/Equity 0.67 +9.3%
  • Interest Coverage 4.34 +22.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 11.8%
  • ✓Share count reduced 2.8% through buybacks
  • ✓Trading at only 0.0x book value
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y12.53%
5Y11.83%
3Y16.52%
TTM10.59%

Profit (Net Income) CAGR

10Y4.02%
5Y4.33%
3Y-3.74%
TTM-35.81%

EPS CAGR

10Y4.32%
5Y4.94%
3Y-2.81%
TTM-33.1%

ROCE

10Y Avg24.98%
5Y Avg38.56%
3Y Avg10.61%
Latest12.61%

Peer Comparison

Latin American Beer & Beverage Leaders
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
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Latest Quarter
Momentum & Returns
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Technical
Volume & Trading
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ABEVAmbev S.A.40.6B2.602.8612.18%17.73%17.29%52.58%0.03
FMXFomento Económico Mexicano, S.A.B. de C.V.35.58B102.980.1429.81%1.86%86%80.95%0.67
CCUCompañía Cervecerías Unidas S.A.2.6B14.100.0213.21%4.5%8.4%100%0.85

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+338.9B443.07B461.65B482.28B508.93B456.33B562.57B581.76B685.68B890.08B
Revenue Growth %0.24%0.31%0.04%0.04%0.06%-0.1%0.23%0.03%0.18%0.3%
Cost of Goods Sold+205.51B279.31B292.74B303.99B318.11B282.79B348.9B348.83B414.95B526.86B
COGS % of Revenue0.61%0.63%0.63%0.63%0.63%0.62%0.62%0.6%0.61%0.59%
Gross Profit+133.38B163.75B168.91B178.29B190.82B173.54B213.67B232.92B270.72B363.22B
Gross Margin %0.39%0.37%0.37%0.37%0.37%0.38%0.38%0.4%0.39%0.41%
Gross Profit Growth %0.17%0.23%0.03%0.06%0.07%-0.09%0.23%0.09%0.16%0.34%
Operating Expenses+96.59B121.7B126.57B134.11B142.11B133.91B160.94B170.49B214.75B282.99B
OpEx % of Revenue0.29%0.27%0.27%0.28%0.28%0.29%0.29%0.29%0.31%0.32%
Selling, General & Admin95.6B121.64B125.9B133.85B140.92B133.5B160.66B170.27B213.67B282.98B
SG&A % of Revenue0.28%0.27%0.27%0.28%0.28%0.29%0.29%0.29%0.31%0.32%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses991.93M58.78M669.5M-257.7M1.19B411.93M283.18M216.33M1.11B-15.94M
Operating Income+36.79B42.05B42.34B44.18B48.71B39.63B52.73B62.44B55.97B80.23B
Operating Margin %0.11%0.09%0.09%0.09%0.1%0.09%0.09%0.11%0.08%0.09%
Operating Income Growth %0.18%0.14%0.01%0.04%0.1%-0.19%0.33%0.18%-0.1%0.43%
EBITDA+48.06B57.26B58.75B61.88B74.63B65.6B81.03B92.18B89.16B124.99B
EBITDA Margin %0.14%0.13%0.13%0.13%0.15%0.14%0.14%0.16%0.13%0.14%
EBITDA Growth %0.17%0.19%0.03%0.05%0.21%-0.12%0.24%0.14%-0.03%0.4%
D&A (Non-Cash Add-back)11.27B15.2B16.41B17.7B25.92B25.96B28.3B29.75B33.19B44.77B
EBIT32.38B38.15B49.18B44.61B43.69B32.56B56.3B58.47B72.24B94.26B
Net Interest Income+-3.9B-5.04B-10.1B-7.18B-8.08B-12.74B-13.16B-9.47B7.83B-4.74B
Interest Income1.11B1.44B1.54B2.91B3.18B1.94B1.48B3.69B23.65B13.74B
Interest Expense5.01B6.48B11.64B10.09B11.26B14.68B14.64B13.16B15.82B18.48B
Other Income/Expense-2.85B-3.17B3.51B-3.24B-10.01B-22.44B-181.03M-17.03B50.74M-5.57B
Pretax Income+33.94B38.89B45.85B40.95B38.69B17.19B52.55B45.4B56.02B74.65B
Pretax Margin %0.1%0.09%0.1%0.08%0.08%0.04%0.09%0.08%0.08%0.08%
Income Tax+8.63B8.75B10.72B10.44B10.52B13.72B14.44B12.94B12.66B28.96B
Effective Tax Rate %0.57%0.6%0.94%0.58%0.54%-0.1%0.55%0.51%1.14%0.34%
Net Income+19.23B23.44B43.33B23.63B20.79B-1.79B28.82B23.3B64.04B25.7B
Net Margin %0.06%0.05%0.09%0.05%0.04%-0%0.05%0.04%0.09%0.03%
Net Income Growth %0.11%0.22%0.85%-0.45%-0.12%-1.09%17.13%-0.19%1.75%-0.6%
Net Income (Continuing)25.32B30.14B35.13B30.51B28.17B3.48B38.11B32.47B43.36B45.69B
Discontinued Operations00447.03M463.04M0001.39B31.4B-4.61B
Minority Interest60.33B74.27B86.62B78.49B3.91B3.49B72.52B75.2B74.51B83.63B
EPS (Diluted)+537.30584.501210.90660.20581.00-49.90805.40651.101789.90739.40
EPS Growth %0.11%0.09%1.07%-0.45%-0.12%-1.09%17.14%-0.19%1.75%-0.59%
EPS (Basic)538.40655.401210.90660.20581.00-49.90805.40651.101789.90739.40
Diluted Shares Outstanding35.78M40.1M35.78M35.78M35.78M35.78M35.78M35.78M35.78M34.76M
Basic Shares Outstanding35.74M35.74M35.78M35.78M35.78M35.78M35.78M35.78M35.78M34.76M
Dividend Payout Ratio0.56%0.51%0.29%0.55%0.66%-0.46%0.75%0.29%0.98%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+86.72B117.95B181.19B177.61B9.14B10.1B230.72B226.45B356.16B342.31B
Cash & Short-Term Investments31.83B43.76B99.1B92.97B4.13B5.44B121.82B83.49B191.84B183.05B
Cash Only29.4B43.76B96.94B62.05B3.48B5.41B97.41B83.44B165.11B139.83B
Short-Term Investments2.44B02.16B30.92B654.84M33.22M24.41B51M26.73B43.21B
Accounts Receivable14.6B26.22B32.32B28.16B2.58B2.28B52.15B65.09B38.86B69.54B
Days Sales Outstanding15.7321.625.5521.321.851.8233.8440.8420.6928.52
Inventory24.68B31.93B34.84B35.69B2.17B2.21B50.9B62.22B58.22B67.46B
Days Inventory Outstanding43.8341.7343.4442.852.492.8553.2465.1151.2146.74
Other Current Assets15.44B17.25B13.36B19.24B139.11M53.35M2.73B11.69B67.23B17.07B
Total Non-Current Assets+322.61B427.67B407.35B450.51B24.62B24.27B506.78B572.37B449.7B509.23B
Property, Plant & Equipment80.67B102.22B116.71B159.82B8.86B8.43B172.6B218.95B229.47B277.21B
Fixed Asset Turnover4.20x4.33x3.96x3.02x57.41x54.11x3.26x2.66x2.99x3.21x
Goodwill33.85B51.86B43.45B40.53B2.54B2.65B57.35B85.7B45.52B46.62B
Intangible Assets74.49B101.41B110.64B105.08B5.22B5.15B100.79B105.07B98.46B99.71B
Long-Term Investments120.69B128.6B96.1B94.31B6.36B6.54B130.41B122.27B35.35B37B
Other Non-Current Assets4.62B31.53B24.6B34.22B546.97M385.24M24.89B13.48B40.89B21.76B
Total Assets+409.33B545.62B588.54B628.12B33.76B34.37B737.5B798.82B805.86B851.54B
Asset Turnover0.83x0.81x0.78x0.77x15.07x13.28x0.76x0.73x0.85x1.05x
Asset Growth %0.09%0.33%0.08%0.07%-0.95%0.02%20.46%0.08%0.01%0.06%
Total Current Liabilities+65.35B86.29B105.02B107.32B7.23B5.94B136.72B176.92B182.38B202.93B
Accounts Payable45.01B59.09B66.16B65.67B3.03B2.66B66.2B78.4B81.52B96.91B
Days Payables Outstanding79.9477.2282.4978.853.473.4369.2682.0371.767.14
Short-Term Debt5.89B7.28B13.59B19.53B1.85B781.56M4.64B18.34B8.45B6.72B
Deferred Revenue (Current)1000K-1000K-1000K1000K000000
Other Current Liabilities13.85B-59.09B-66.16B21.16B1.73B1.87B13.2B606M40.62B7.37B
Current Ratio1.33x1.37x1.73x1.65x1.26x1.70x1.69x1.28x1.95x1.69x
Quick Ratio0.95x1.00x1.39x1.32x0.96x1.33x1.32x0.93x1.63x1.35x
Cash Conversion Cycle-20.38-13.89-13.5-14.690.871.2417.8223.910.28.11
Total Non-Current Liabilities+102.13B173.16B146.61B186.43B9.28B13.01B265.66B284.09B245.11B267.48B
Long-Term Debt85.97B123.49B117.9B155.22B5.39B9.03B185.94B173.4B128.37B141.48B
Capital Lease Obligations00128M02.5B2.59B55.05B81.22B83.84B94.3B
Deferred Tax Liabilities6.23B11.04B6.13B5.89B367.82M302.78M6.04B6.82B9.02B9.97B
Other Non-Current Liabilities6.72B49.67B28.58B31.21B1.02B1.09B18.62B22.65B23.88B21.72B
Total Liabilities167.48B259.45B251.63B293.75B16.51B18.95B402.38B461.01B427.49B470.4B
Total Debt+91.86B130.78B124.51B174.75B9.74B12.39B252.94B285.06B232.9B256.3B
Net Debt62.47B87.02B27.56B112.7B6.26B6.99B155.53B201.62B67.78B116.47B
Debt / Equity0.38x0.44x0.29x0.42x0.56x0.80x0.75x0.84x0.62x0.67x
Debt / EBITDA1.91x2.28x2.12x2.82x0.13x0.19x3.12x3.09x2.61x2.05x
Net Debt / EBITDA1.30x1.52x0.47x1.82x0.08x0.11x1.92x2.19x0.76x0.93x
Interest Coverage7.34x6.49x3.64x4.38x4.33x2.70x3.60x4.74x3.54x4.34x
Total Equity+241.86B300.1B423.53B412.85B17.25B15.42B335.12B337.8B378.37B381.13B
Equity Growth %0.05%0.24%0.41%-0.03%-0.96%-0.11%20.74%0.01%0.12%0.01%
Book Value per Share6759.107483.0111836.3811537.83482.08430.859365.449440.4510575.3510964.58
Total Shareholders' Equity181.52B225.84B336.91B334.36B13.34B11.93B262.6B262.6B303.86B297.5B
Common Stock3.35B3.35B3.35B3.35B177.29M168.03M3.35B3.35B3.35B3.26B
Retained Earnings156.53B168.8B201.87B217.8B12.17B10.91B238.31B251.19B304.65B306.4B
Treasury Stock0000000000
Accumulated OCI-4.16B14.03B18.27B9.05B36.27M-42.31M3.08B-9.65B-21.74B-9.57B
Minority Interest60.33B74.27B86.62B78.49B3.91B3.49B72.52B75.2B74.51B83.63B

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+36.74B50.13B40.13B47.41B61.64B53.17B73.09B72.58B49.68B72.49B
Operating CF Margin %0.11%0.11%0.09%0.1%0.12%0.12%0.13%0.12%0.07%0.08%
Operating CF Growth %-0.02%0.36%-0.2%0.18%0.3%-0.14%0.37%-0.01%-0.32%0.46%
Net Income31.21B35.06B47.79B39.88B38.52B18.57B51.96B49.14B89.65B26.73B
Depreciation & Amortization10.82B13.71B17.66B17.24B25.81B28.05B27.99B30.53B34.02B39.31B
Stock-Based Compensation463M468M351M405M610M575M854M00947M
Deferred Taxes0000-610M-575M-854M000
Other Non-Cash Items-2.77B-9.5B-23.01B-8.94B-4.75B4.02B-12.82B-8.86B-72.01B25.36B
Working Capital Changes-2.52B10.86B-2.31B-765M2.05B2.53B5.97B1.77B-1.97B-19.87B
Change in Receivables-4.38B-1.89B-11.35B-2.43B-2.82B2.55B-6.05B-5.68B-12.13B-9.76B
Change in Inventory-4.33B-4.94B-2.6B-3.81B-5.63B-247M-7.83B-6.86B-6.44B-6.72B
Change in Payables5.56B15.34B7.39B4.91B10.23B-1.85B19.93B12.01B11.18B0
Cash from Investing+-28.36B-38.65B31.42B-57.66B-14.13B-31.37B-46.17B-46.43B132.29B-33.12B
Capital Expenditures-18.46B-21.39B-24.18B-23.38B-25.12B-20.14B-20.3B-29.35B-34.81B-43.68B
CapEx % of Revenue0.05%0.05%0.05%0.05%0.05%0.04%0.04%0.05%0.05%0.05%
Acquisitions----------
Investments----------
Other Investing2.77B3.44B2.1B4.63B6.17B6.19B8.42B-15.22B33.78B18.08B
Cash from Financing+-13.74B1.3B-21.54B-23.01B-38.43B19.57B-36.99B-35.9B-92.55B-84.05B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-10.7B-12.04B-12.45B-12.93B-13.63B-15.87B-13.4B-17.51B-18.8B-25.08B
Share Repurchases----------
Other Financing4.06B-7.83B-4.56B-9.05B-12.43B-25.41B-18.61B-16.45B-32.12B-21.38B
Net Change in Cash----------
Free Cash Flow+18.29B28.74B15.95B24.04B36.52B33.03B52.79B41.1B11.56B28.8B
FCF Margin %0.05%0.06%0.03%0.05%0.07%0.07%0.09%0.07%0.02%0.03%
FCF Growth %-0.5%0.57%-0.44%0.51%0.52%-0.1%0.6%-0.22%-0.72%1.49%
FCF per Share511.03716.60445.78671.761020.48923.111475.341148.72323.07828.68
FCF Conversion (FCF/Net Income)1.91x2.14x0.93x2.01x2.96x-29.76x2.54x3.12x0.78x2.82x
Interest Paid00000000016.16B
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)8.15%8.65%11.97%5.65%9.67%-10.94%16.44%6.92%17.88%6.77%
Return on Invested Capital (ROIC)9.49%9.12%7.58%6.79%13.31%129.47%15.42%9.09%8.52%12.75%
Gross Margin39.36%36.96%36.59%36.97%37.49%38.03%37.98%40.04%39.48%40.81%
Net Margin5.68%5.29%9.39%4.9%4.08%-0.39%5.12%4%9.34%2.89%
Debt / Equity0.38x0.44x0.29x0.42x0.56x0.80x0.75x0.84x0.62x0.67x
Interest Coverage7.34x6.49x3.64x4.38x4.33x2.70x3.60x4.74x3.54x4.34x
FCF Conversion1.91x2.14x0.93x2.01x2.96x-29.76x2.54x3.12x0.78x2.82x
Revenue Growth23.95%30.74%4.19%4.47%5.53%-10.34%23.28%3.41%17.86%29.81%

Revenue by Segment

20172018201920202021202220232024
Interest Revenue----2.15B2.3B3.35B2.73B
Interest Revenue Growth-----7.04%45.67%-18.35%
Logistic Services587M369M553M532M--601M566M
Logistic Services Growth--37.14%49.86%-3.80%----5.82%
Other Revenue---764M--1.67B273M
Other Revenue Growth--------83.66%
Other revenue----814M963M--
Other revenue Growth-----18.30%--
Logistic services----514M552M--
Logistic services Growth-----7.39%--

Revenue by Geography

20172018201920202021202220232024
MEXICO288.78B319.79B-320.69B355.92B418.81B456.71B503.21B
MEXICO Growth-10.74%--10.98%17.67%9.05%10.18%
BRAZIL64.34B63.6B67.08B62.76B59.97B70.74B53.57B81.86B
BRAZIL Growth--1.16%5.46%-6.44%-4.44%17.95%-24.26%52.80%
COLOMBIA17.55B19.25B16.44B14.8B17.55B45.73B57.43B54.78B
COLOMBIA Growth-9.69%-14.58%-9.98%18.57%160.62%25.58%-4.62%
CHILE40.66B44.58B45.28B47.21B54.71B35.42B35.44B34.26B
CHILE Growth-9.63%1.57%4.27%15.89%-35.25%0.04%-3.32%
South America135.61B------10.99B
South America Growth--------
ECUADOR--6.54B9.47B9.08B9.79B8.99B9.45B
ECUADOR Growth---44.78%-4.10%7.84%-8.22%5.21%
URUGUAY-1.93B3.42B3.12B3.37B3.89B4.42B5.82B
URUGUAY Growth--77.71%-8.68%7.91%15.28%13.61%31.78%
ARGENTINA13.94B9.24B6.86B5.53B8.55B11.03B6.67B-
ARGENTINA Growth--33.73%-25.77%-19.34%54.51%29.11%-39.52%-
Mexico And Central America301.46B-------
Mexico And Central America Growth--------
Asia20.52B-------
Asia Growth--------
VENEZUELA3.93B-------
VENEZUELA Growth--------

Frequently Asked Questions

Valuation & Price

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has a price-to-earnings (P/E) ratio of 0.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) reported $827.78B in revenue for fiscal year 2024. This represents a 273% increase from $221.70B in 2011.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) grew revenue by 29.8% over the past year. This is strong growth.

Yes, Fomento Económico Mexicano, S.A.B. de C.V. (FMX) is profitable, generating $15.36B in net income for fiscal year 2024 (2.9% net margin).

Dividend & Returns

Yes, Fomento Económico Mexicano, S.A.B. de C.V. (FMX) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has a return on equity (ROE) of 6.8%. This is below average, suggesting room for improvement.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) generated $20.57B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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