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Mexican conglomerate operating the OXXO convenience-store chain, plus a large stake in Coca-Cola FEMSA bottling and other retail/health businesses.
Mexican conglomerate operating the OXXO convenience-store chain, plus a large stake in Coca-Cola FEMSA bottling and other retail/health businesses.
Earns small amounts per sale at a very large number of OXXO stores, with the Coca-Cola FEMSA bottler providing a second large stream tied to soft-drink volumes across Latin America. OXXO's footfall also supports Spin, a payments app aimed at customers without bank accounts.
In one line: Mexico's 7-Eleven-plus-Coke-bottler combined.
Moat: narrow (scale, distribution, brand). Largest convenience-store network in Latin America gives dense distribution and real-estate advantages.
Headquarters: Monterrey, Mexico · Founded: 1890 · Employees: 368,776
Size Fomento Economico Mexicano SAB de CV Sponsored ADR (FMX) is a United States Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $26.1B, the 411th largest of 3,117 United States companies the cockpit tracks. Shares closed at $129.85 on 6 Nov 2026.
Performance Over six months the shares gained 7.1%, against +8.7% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 14 in its peer set.
Growth Revenue grew 18.2% over the last twelve months (peer median +18.4%); the operating margin is 8.6% (peer median 13.5%).
Valuation It trades at 24.2× forward earnings against a peer median of 17.2× (3rd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.2 points above its cost of capital (6.3% WACC).
Credit Fomento Economico Mexicano SAB de CV Sponsored ADR has 6 bonds outstanding ($4.51B), rated BBB+ by the agencies and trading like A at a weighted spread of 76 bp.
Short interest Short interest is 1.1% of the free float (15 Oct 2026).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $48.7B | $43.8B | $42.6B | $39.6B | $29.7B |
| Revenue growth | — | +3% | +8% | +34% | — |
| Gross profit | $19.7B | $17.7B | $17.4B | $15.6B | $11.9B |
| EBITDA | $7.29B | $6.06B | $5.99B | $5.15B | $4.70B |
| Net income | $1.76B | $930M | $1.23B | $3.70B | $1.19B |
| Free cash flow | $3.68B | $1.63B | $1.70B | $936M | $2.19B |
| Capital expenditure | $2.26B | $2.26B | $2.63B | $2.28B | $1.71B |
| Total debt | $18.7B | $14.3B | $12.3B | $13.8B | $14.6B |
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 |
|---|---|---|---|---|---|---|
| Fomento Economico Mexicano SAB de CV Sponsored ADR FMX | $26.1B | +7% | +18% | 9% | 24.2× | -6.9% |
| Seven & I 3382.T | $31.7B | +16% | -11% | 4% | 17.4× | 4.0% |
| Coca-Cola FEMSA SAB de CV Sponsored ADR KOF | $6.01B | +8% | +17% | 14% | 16.5× | -20.1% |
| Alimentation Couche-Tard ATD.TO | $54.5B | +5% | +12% | 6% | 18.3× | 1.3% |
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 | FMX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.4% | +11.3% | 6th lowest of 14 |
| 6-month return | +7.1% | +8.7% | 7th lowest of 14 |
| Distance from 52-week high | -8.2% | -9.5% | 6th highest of 14 |
| Revenue growth (TTM) | +18.2% | +18.4% | 7th lowest of 14 |
| Operating margin | 8.6% | 13.5% | lowest of 14 |
| Forward P/E | 24.2× | 17.2× | 3rd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | -6.9% | 4.9% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +13.8% | +12.8% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | -20.8 pp | -10.4 pp | 3rd least demanding of 14 |
| ROIC minus cost of capital | +3.2 pp | +6.6 pp | 6th lowest of 14 |
| EV / EBITDA | 6.0× | 14.7× | 2nd cheapest of 13 |
| Net debt / EBITDA | 1.8× | 1.4× | 7th least indebted of 13 |
| Bond spread | 76 bp | 91 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fomento Economico Mexicano SAB de CV Sponsored ADR FMX | United States | $26.1B | +7% | +18% | 9% | 24.2× | -6.9% | +13.8% |
| Coca-Cola HBC CCH.L | United Kingdom | $20.5B | -2% | +13% | 11% | 17.2× | 4.9% | +12.8% |
| Swire Pacific 0019.HK | Hong Kong | $17.0B | +23% | +7% | 12% | 11.4× | 6.9% | +2.9% |
| Varun Beverages VBL.NS | India | $15.7B | -14% | +22% | 17% | 42.8× | 37.2% | +26.8% |
| Coca-Cola Consolidated COKE | United States | $13.8B | +19% | +11% | 13% | n/a | -1.3% | +7.6% |
| Keurig Dr Pepper KDP | United States | $49.8B | +28% | +43% | 17% | 14.8× | 6.3% | +7.4% |
| Coca-Cola Europacific Partners CCEP | United States | $51.0B | +23% | +10% | 14% | 21.8× | 3.9% | +14.3% |
| Eastroc Beverage (Group) 9980.HK | Hong Kong | $11.7B | -40% | +18% | 26% | 13.2× | 3.2% | +32.2% |
| Nongfu Spring 9633.HK | Hong Kong | $64.9B | -1% | +27% | 38% | 24.0× | -0.2% | +17.3% |
| Tingyi 0322.HK | Hong Kong | $9.59B | +17% | +4% | 9% | 14.1× | -12.9% | +2.4% |
| Suntory Beverage & Food 2587.T | Japan | $9.58B | +9% | +7% | 9% | 17.2× | -7.5% | +7.8% |
| Celsius CELH | United States | $8.14B | 0% | +83% | 19% | 22.7× | 7.6% | +80.7% |
| Primo Brands PRMB | United States | $8.10B | -4% | +28% | 10% | 16.2× | 9.2% | +27.8% |
| Monster Beverage MNST | United States | $89.6B | +11% | +20% | 29% | 36.2× | 10.2% | +12.5% |
Fomento Economico Mexicano SAB de CV Sponsored ADR has 6 bonds outstanding with $4.51B face value. The agencies rate it BBB+; its bonds trade like A. Weighted yield 5.71%, a spread of 76 bp over government bonds.