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Mexican multinational producing cement, ready-mix concrete and aggregates across the Americas and Europe.
Mexican multinational producing cement, ready-mix concrete and aggregates across the Americas and Europe.
Cement and aggregates are heavy and costly to move, so each plant serves a local radius and profit depends on pricing in that market; Mexico and the US are the largest. Since the 2008-09 housing crash it has sold businesses in some countries.
Moat: narrow (scale, distribution, regulatory licence). Vertically integrated cement-to-concrete network across countries, capital-intensive to replicate.
Headquarters: Monterrey, Mexico · Founded: 1906 · Employees: 39,886
Size Cemex SAB de CV Sponsored ADR (CX) is a United States Materials company (Construction Materials) with a market value of $16.6B, the 563rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.72 on 6 Nov 2026.
Performance Over six months the shares fell 18.2%, against -4.6% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 16 in its peer set.
Growth Revenue grew 9.6% over the last twelve months (peer median +1.6%); the operating margin is 12.6% (peer median 14.7%).
Valuation It trades at 11.2× forward earnings against a peer median of 16.2× (2nd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.7 points below its cost of capital (10.8% WACC).
Credit Cemex SAB de CV Sponsored ADR has 5 bonds outstanding ($5.08B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 126 bp.
Short interest Short interest is 1.0% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.3B | $16.2B | $16.0B | $16.7B | $15.6B |
| Revenue growth | — | +1% | -4% | +7% | — |
| Gross profit | $5.64B | $5.08B | $5.16B | $5.42B | $4.65B |
| EBITDA | $3.52B | $3.09B | $3.04B | $3.18B | $2.69B |
| Net income | $621M | $406M | $892M | $184M | $556M |
| Free cash flow | $1.97B | $1.03B | $988M | $1.37B | $568M |
| Capital expenditure | $1.01B | $1.22B | $1.28B | $1.08B | $1.08B |
| Total debt | $6.08B | $7.90B | $7.93B | $8.88B | $8.67B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cemex SAB de CV Sponsored ADR CX | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% |
| Holcim HOLN.SW | $48.4B | -3% | -26% | 16% | 19.5× | 1.4% |
| Heidelberg Materials HEI.DE | $34.3B | -5% | 0% | 15% | 13.5× | 4.9% |
| CRH CRH | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% |
| Amrize AMRZ | $22.9B | -21% | +4% | 16% | 17.2× | -0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.1% | +14.7% | 8th lowest of 16 |
| 6-month return | -18.2% | -4.6% | 3rd lowest of 16 |
| Distance from 52-week high | -21.6% | -22.6% | 8th highest of 16 |
| Revenue growth (TTM) | +9.6% | +1.6% | 3rd highest of 16 |
| Operating margin | 12.6% | 14.7% | 5th lowest of 16 |
| Forward P/E | 11.2× | 16.2× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | 2.8% | 8th most demanding of 16 |
| Growth delivered (Del g) | +4.7% | +6.3% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | -0.3 pp | +2.4 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | -1.7 pp | +0.4 pp | 5th lowest of 16 |
| EV / EBITDA | 6.3× | 11.0× | 2nd cheapest of 13 |
| Net debt / EBITDA | 1.5× | 2.1× | 5th least indebted of 14 |
| Bond spread | 126 bp | 83 bp | widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cemex SAB de CV Sponsored ADR CX | United States | $16.6B | -18% | +10% | 13% | 11.2× | 4.4% | +4.7% |
| James Hardie Industries JHX | United States | $16.2B | +33% | +43% | 14% | 21.0× | 26.1% | +10.7% |
| Anhui Conch Cement 600585.SS | China | $13.9B | -12% | -8% | 4% | 19.4× | -7.7% | -14.1% |
| Amrize AMRZ | United States | $22.9B | -21% | +4% | 16% | 17.2× | -0.1% | +3.3% |
| Heidelberg Materials HEI.DE | Germany | $34.3B | -5% | 0% | 15% | 13.5× | 4.9% | +4.0% |
| Buzzi BZU.MI | Italy | $8.04B | -9% | +2% | 18% | 9.3× | 2.8% | +7.0% |
| Vulcan Materials VMC | United States | $36.3B | 0% | +2% | 21% | 29.5× | 18.7% | +10.3% |
| Martin Marietta Materials MLM | United States | $36.8B | -12% | +9% | 20% | 28.8× | 23.2% | +5.4% |
| Huaxin Building Materials 600801.SS | China | $7.16B | +28% | +16% | 18% | 14.8× | -10.9% | +3.7% |
| ROCKWOOL A/S ROCK-A.CO | Denmark | $6.72B | +11% | -1% | 13% | 16.2× | -4.8% | +8.3% |
| TCC 1101.TW | Taiwan | $6.09B | +11% | -6% | 8% | 29.2× | 9.1% | +7.2% |
| Eagle Materials EXP | United States | $5.71B | -12% | +2% | 22% | 16.1× | 9.7% | +7.3% |
| Holcim HOLN.SW | Switzerland | $48.4B | -3% | -26% | 16% | 19.5× | 1.4% | -7.4% |
| FLSmidth & Co. A/S FLS.CO | Denmark | $4.88B | +22% | -20% | 13% | 13.9× | 2.8% | -2.3% |
| Beijing New Building Materials (Group) 000786.SZ | China | $4.41B | -33% | -3% | 10% | 11.4× | -2.3% | +8.4% |
| CRH CRH | United States | $63.1B | -16% | +6% | 14% | 16.0× | 11.0% | +6.3% |
Cemex SAB de CV Sponsored ADR has 5 bonds outstanding with $5.08B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.96%, a spread of 126 bp over government bonds.