Stock FMX FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V.
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Financials Fomento Económico Mexicano, S.A.B. de C.V. Nyse

Equities

FMX

US3444191064

Food Retail & Distribution

Market Closed - Nyse
Other stock markets
 21:00:02 10/05/2024 BST 		5-day change 1st Jan Change
121 USD -0.28% Intraday chart for Fomento Económico Mexicano, S.A.B. de C.V. +1.93% -7.20%
05-02 ETF of the week: Mexico's future looks golden Our Logo
04-26 Transcript : Fomento Económico Mexicano, S.A.B. de C.V., Q1 2024 Earnings Call, Apr 26, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 602,946 499,208 527,118 499,021 720,744 655,994 - -
Enterprise Value (EV) 1 691,615 633,128 614,208 779,660 720,744 704,646 721,032 756,754
P/E ratio 30.9 x -278 x 20 x 21.9 x 11.9 x 20.3 x 18.5 x 14.9 x
Yield 2.72% 0.96% 2.13% - - 3.13% 2.76% 4.97%
Capitalization / Revenue 1.19 x 1.01 x 0.95 x 0.74 x 1.03 x 0.83 x 0.76 x 0.71 x
EV / Revenue 1.36 x 1.28 x 1.1 x 1.16 x 1.03 x 0.89 x 0.84 x 0.82 x
EV / EBITDA 9.17 x 8.8 x 7.45 x 8.4 x 7.48 x 6.39 x 5.85 x 5.68 x
EV / FCF 17.9 x 18.3 x 11.2 x - - 17.1 x 16.2 x 14.9 x
FCF Yield 5.6% 5.45% 8.92% - - 5.85% 6.16% 6.71%
Price to Book 1.96 x 1.75 x 1.7 x - - 2.09 x 2.36 x -
Nbr of stocks (in thousands) 3,578,226 3,578,226 3,578,226 3,578,226 3,577,845 3,564,866 - -
Reference price 2 178.7 150.3 159.3 151.6 221.0 203.8 203.8 203.8
Announcement Date 27/02/20 01/03/21 28/02/22 24/02/23 23/02/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 506,711 492,966 556,261 673,202 702,692 791,022 862,031 924,598
EBITDA 1 75,440 71,973 82,422 92,812 96,386 110,208 123,263 133,265
EBIT 1 47,152 41,503 51,993 59,416 59,812 68,380 77,771 86,897
Operating Margin 9.31% 8.42% 9.35% 8.83% 8.51% 8.64% 9.02% 9.4%
Earnings before Tax (EBT) 1 32,087 18,936 41,276 41,872 59,358 67,446 73,178 81,110
Net income 1 20,699 -1,930 28,494 24,758 66,390 39,130 42,155 47,064
Net margin 4.08% -0.39% 5.12% 3.68% 9.45% 4.95% 4.89% 5.09%
EPS 2 5.780 -0.5400 7.960 6.920 18.55 10.02 11.00 13.64
Free Cash Flow 1 38,713 34,513 54,796 - - 41,191 44,427 50,756
FCF margin 7.64% 7% 9.85% - - 5.21% 5.15% 5.49%
FCF Conversion (EBITDA) 51.32% 47.95% 66.48% - - 37.38% 36.04% 38.09%
FCF Conversion (Net income) 187.03% - 192.3% - - 105.27% 105.39% 107.84%
Dividend per Share 2 4.860 1.444 3.400 - - 6.385 5.633 10.14
Announcement Date 27/02/20 01/03/21 28/02/22 24/02/23 23/02/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 151,542 147,636 167,504 171,664 186,467 180,011 198,220 188,095 189,825 178,204 194,100 197,270 202,944 193,080 -
EBITDA 1 23,446 19,694 23,370 23,196 26,562 22,157 27,134 25,366 26,933 25,049 29,616 27,534 36,553 26,848 32,717
EBIT 1 15,509 11,892 15,032 14,769 17,405 12,543 25,947 15,929 17,532 14,767 18,060 17,248 21,075 15,856 -
Operating Margin 10.23% 8.05% 8.97% 8.6% 9.33% 6.97% 13.09% 8.47% 9.24% 8.29% 9.3% 8.74% 10.38% 8.21% -
Earnings before Tax (EBT) 1 12,733 6,484 12,309 13,203 9,899 - 18,498 20,588 7,204 9,073 17,456 16,084 19,939 - -
Net income 1 6,717 3,987 5,209 10,748 4,817 48,078 6,165 9,742 3,267 2,931 9,952 8,307 10,993 - -
Net margin 4.43% 2.7% 3.11% 6.26% 2.58% 26.71% 3.11% 5.18% 1.72% 1.64% 5.13% 4.21% 5.42% - -
EPS 1.880 1.110 1.460 3.000 1.350 13.44 1.720 2.720 0.9100 - - - - - -
Dividend per Share 2 3.400 - - - - - - - - - 1.938 - 1.938 - -
Announcement Date 28/02/22 02/05/22 28/07/22 28/10/22 24/02/23 28/04/23 27/07/23 27/10/23 23/02/24 26/04/24 - - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 88,669 133,920 87,090 280,639 - 48,652 65,038 100,760
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.175 x 1.861 x 1.057 x 3.024 x - 0.4415 x 0.5276 x 0.7561 x
Free Cash Flow 1 38,713 34,513 54,796 - - 41,191 44,427 50,756
ROE (net income / shareholders' equity) 6.26% -0.79% 8.88% 7.35% - 11.9% 12% 13.4%
ROA (Net income/ Total Assets) 3.41% -0.29% 4.01% 3.22% - 4.7% 4.5% 5.3%
Assets 1 606,955 665,517 711,150 768,094 - 832,549 936,784 888,005
Book Value Per Share 2 91.00 85.80 93.60 - - 97.30 86.40 -
Cash Flow per Share 2 17.20 14.90 20.40 - - 13.00 12.10 5.210
Capex 1 25,579 18,660 20,299 34,410 - 40,546 43,921 45,210
Capex / Sales 5.05% 3.79% 3.65% 5.11% - 5.13% 5.1% 4.89%
Announcement Date 27/02/20 01/03/21 28/02/22 24/02/23 23/02/24 - - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

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

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
203.8 MXN
Average target price
243.5 MXN
Spread / Average Target
+19.47%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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