Recent News
On September 18, 2025, FEMSA announced the appointment of Jose Antonio Fernández Garza-Lagüera as chief executive officer, effective November 1, 2025, continuing the company’s planned succession and management reshuffle. The announcement highlighted leadership continuity within the firm’s proximity and health businesses.
Technical Analysis
Directional indicators show a clear strength reading: ADX at 31.02 indicates a strong trend environment while DI+ sits at 26.23 and is increasing, and DI- sits at 20.30 and is decreasing; that alignment favors bullish directional momentum and supports a stabilizing upside bias relative to recent price levels.
MACD reads 1.15 with the MACD line above the signal line (-0.07) and trending upward; the cross above the signal line represents a bullish momentum signal and implies increasing upside momentum if sustained.
Price trades above short‑ and long‑term averages: closing at $97.00 versus the 12‑day EMA $92.10 (rising), the 26‑day EMA $90.51, the 20‑day average $90.18, and the 200‑day average $92.42. Being above these moving averages and the Ichimoku cloud boundary (Senkou B $96.25) supports near‑term constructive price mechanics against the current valuation backdrop.
MRO at -1.22 and moving higher indicates the price sits modestly below the model target and that the gap has narrowed; this suggests potential for additional upside pressure toward the modeled target if momentum indicators remain constructive.
RSI reads 47.3 and is increasing, implying building momentum without overbought conditions; the stock sits above the 1x Bollinger upper band ($95.02) but below the 2x band ($99.86), which points to above‑average volatility without an extreme overstretch. Volume on the close (803,499) trails the 10‑day and 50‑day averages, signaling limited conviction behind the recent move and leaving follow‑through dependent on pickup in traded volume.
Fundamental Analysis
Profitability: EBIT equals $16,144,000,000 and EBIT margin measures 7.64%, below the industry peer mean margin of 29.24% and below the industry peer median. EBIT margin deteriorated QoQ by 11.71% and YoY by 45.22%, indicating margin pressure over both short and full‑year comparisons. Operating margin sits at 8.44% with a YoY decline of 39.49%.
Earnings and cash: Reported EPS actual $0.44 versus an estimate of $1.11, producing an EPS surprise of -60.36%. Net income totaled $2,710,000,000 while operating cash flow registered $2,387,000,000; cash conversion ratio reads 2.58 (258.12%), indicating strong conversion of earnings to cash on a ratio basis despite low absolute operating cash flow relative to revenue.
Growth and returns: Revenue totaled $211,364,000,000 with reported revenue growth of 7.94% but a year‑over‑year revenue change of -31.14% and a quarter‑over‑quarter change of -228.45% per the supplied metrics; return on invested capital equals 7.26%, while return on equity measures 1.12% and return on assets 0.32%, reflecting low reported accounting returns versus invested capital.
Leverage and liquidity: Total debt stands at $265,481,000,000 with net debt $25,739,000,000. Debt to equity equals 109.97%, and debt to EBITDA runs 16.44x; interest coverage equals 3.05x. Cash and short‑term investments total $162,310,000,000 and the current ratio equals 1.34 while the quick ratio equals 1.06, supporting near‑term liquidity despite elevated leverage metrics on an indebtedness multiple basis.
Valuation metrics: Price‑to‑earnings at 230.17 and enterprise multiple at 106.04 sit well above typical market multiples; forward P/E measures 81.40. Price‑to‑book equals 6.66, which falls below the industry peer mean price‑to‑book of 9.47. The listed valuation from WMDST classifies the stock as over‑valued, reflecting stretched price multiples relative to reported profitability and returns.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-28 |
| NEXT REPORT DATE: | 2025-10-21 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ 2.4 B | |
| Capital Expenditures | — | |
| Change In Working Capital | $ -2.71 B | |
| Dividends Paid | — | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 211.4 B | |
| Forward Revenue | $ 84.6 B | |
| COSTS | ||
| Cost Of Revenue | $ 125.4 B | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | $ 193.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 85.9 B | |
| EBITDA | $ 16.1 B | |
| EBIT | $ 16.1 B | |
| Operating Income | $ 17.8 B | |
| Interest Income | $ 2.1 B | |
| Interest Expense | $ 5.3 B | |
| Net Interest Income | $ -2.62 B | |
| Income Before Tax | $ 10.8 B | |
| Tax Provision | $ 4.3 B | |
| Tax Rate | 40.0 % | |
| Net Income | $ 2.7 B | |
| Net Income From Continuing Operations | $ 2.6 B | |
| EARNINGS | ||
| EPS Estimate | $ 1.11 | |
| EPS Actual | $ 0.44 | |
| EPS Difference | $ -0.67 | |
| EPS Surprise | -60.36 % | |
| Forward EPS | $ 1.25 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 831.0 B | |
| Intangible Assets | $ 146.5 B | |
| Net Tangible Assets | $ 94.9 B | |
| Total Current Assets | $ 323.3 B | |
| Cash and Short-Term Investments | $ 162.3 B | |
| Cash | $ 129.8 B | |
| Net Receivables | $ 42.1 B | |
| Inventory | $ 66.6 B | |
| Long-Term Investments | $ 52.6 B | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 19.3 B | |
| Total Current Liabilities | $ 241.4 B | |
| Net Debt | $ 25.7 B | |
| Total Debt | $ 265.5 B | |
| Total Liabilities | $ 506.0 B | |
| EQUITY | ||
| Total Equity | $ 241.4 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 13.92 | |
| Shares Outstanding | 3.469 B | |
| Revenue Per-Share | $ 12.18 | |
| VALUATION | Market Capitalization | $ 1.6 T |
| Enterprise Value | $ 1.7 T | |
| Enterprise Multiple | 106.043 | |
| Enterprise Multiple QoQ | 3.019 % | |
| Enterprise Multiple YoY | 1120.61 % | |
| Enterprise Multiple IPRWA | FMX: 106.043 high: 83.086 median: 44.665 mean: 43.945 low: -106.182 |
|
| EV/R | 8.1 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.442 | |
| Asset To Liability | 1.642 | |
| Debt To Capital | 0.524 | |
| Debt To Assets | 0.319 | |
| Debt To Assets QoQ | 4.505 % | |
| Debt To Assets YoY | 4300.275 % | |
| Debt To Assets IPRWA | high: 0.613 median: 0.474 mean: 0.404 FMX: 0.319 low: 0.022 |
|
| Debt To Equity | 1.1 | |
| Debt To Equity QoQ | 29.517 % | |
| Debt To Equity YoY | 5269.434 % | |
| Debt To Equity IPRWA | high: 5.163 median: 1.73 mean: 1.471 FMX: 1.1 low: 0.034 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.664 | |
| Price To Book QoQ | 24.314 % | |
| Price To Book YoY | 379.351 % | |
| Price To Book IPRWA | high: 33.155 median: 10.5 mean: 9.466 FMX: 6.664 low: 0.003 |
|
| Price To Earnings (P/E) | 230.166 | |
| Price To Earnings QoQ | 197.367 % | |
| Price To Earnings YoY | 417.55 % | |
| Price To Earnings IPRWA | FMX: 230.166 high: 120.829 median: 79.486 mean: 76.783 low: -49.567 |
|
| PE/G Ratio | 3.325 | |
| Price To Sales (P/S) | 7.611 | |
| Price To Sales QoQ | -9.767 % | |
| Price To Sales YoY | 274.258 % | |
| Price To Sales IPRWA | high: 43.471 mean: 15.013 median: 12.46 FMX: 7.611 low: 0.008 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 81.4 | |
| Forward PE/G | 1.176 | |
| Forward P/S | 3.805 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.592 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.251 | |
| Asset Turnover Ratio QoQ | 9.247 % | |
| Asset Turnover Ratio YoY | 2.003 % | |
| Asset Turnover Ratio IPRWA | high: 0.549 FMX: 0.251 mean: 0.172 median: 0.122 low: 0.095 |
|
| Receivables Turnover | 5.038 | |
| Receivables Turnover Ratio QoQ | 3.281 % | |
| Receivables Turnover Ratio YoY | -0.589 % | |
| Receivables Turnover Ratio IPRWA | FMX: 5.038 high: 4.492 mean: 3.307 median: 3.035 low: 1.293 |
|
| Inventory Turnover | 1.884 | |
| Inventory Turnover Ratio QoQ | 7.996 % | |
| Inventory Turnover Ratio YoY | -9.004 % | |
| Inventory Turnover Ratio IPRWA | high: 4.219 FMX: 1.884 mean: 1.5 median: 0.926 low: 0.12 |
|
| Days Sales Outstanding (DSO) | 18.111 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.581 | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 377.6 B | |
| Net Invested Capital | $ 155.6 B | |
| Invested Capital | $ 155.6 B | |
| Net Tangible Assets | $ 94.9 B | |
| Net Working Capital | $ 81.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.672 | |
| Current Ratio | 1.339 | |
| Current Ratio QoQ | -18.337 % | |
| Current Ratio YoY | -22.061 % | |
| Current Ratio IPRWA | high: 4.068 mean: 1.349 FMX: 1.339 median: 1.213 low: 0.119 |
|
| Quick Ratio | 1.063 | |
| Quick Ratio QoQ | -19.004 % | |
| Quick Ratio YoY | -25.94 % | |
| Quick Ratio IPRWA | high: 2.996 FMX: 1.063 mean: 0.924 median: 0.903 low: 0.056 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 16.445 | |
| Cost Of Debt | 1.408 % | |
| Interest Coverage Ratio | 3.045 | |
| Interest Coverage Ratio QoQ | -6.874 % | |
| Interest Coverage Ratio YoY | -38.462 % | |
| Interest Coverage Ratio IPRWA | high: 11.778 mean: 8.081 median: 7.022 FMX: 3.045 low: -6.846 |
|
| Operating Cash Flow Ratio | 0.01 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -2.902 % | |
| Revenue Growth | 7.938 % | |
| Revenue Growth QoQ | -228.447 % | |
| Revenue Growth YoY | -31.136 % | |
| Revenue Growth IPRWA | high: 35.194 % median: 10.097 % FMX: 7.938 % mean: -16.607 % low: -100.0 % |
|
| Earnings Growth | 69.231 % | |
| Earnings Growth QoQ | -453.075 % | |
| Earnings Growth YoY | -57.227 % | |
| Earnings Growth IPRWA | high: 321.429 % FMX: 69.231 % mean: 20.374 % median: 19.178 % low: -118.182 % |
|
| MARGINS | ||
| Gross Margin | 40.651 % | |
| Gross Margin QoQ | 0.868 % | |
| Gross Margin YoY | -1.999 % | |
| Gross Margin IPRWA | high: 62.393 % median: 56.292 % mean: 54.899 % FMX: 40.651 % low: -0.887 % |
|
| EBIT Margin | 7.638 % | |
| EBIT Margin QoQ | -11.71 % | |
| EBIT Margin YoY | -45.216 % | |
| EBIT Margin IPRWA | high: 41.811 % mean: 29.239 % median: 28.826 % FMX: 7.638 % low: -53.415 % |
|
| Return On Sales (ROS) | 8.436 % | |
| Return On Sales QoQ | -2.485 % | |
| Return On Sales YoY | -39.492 % | |
| Return On Sales IPRWA | high: 34.456 % median: 28.31 % mean: 25.778 % FMX: 8.436 % low: -53.415 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | — | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | — | |
| Free Cash Growth QoQ | — | |
| Free Cash Growth YoY | — | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | — | |
| Cash Flow Margin | 1.129 % | |
| Cash Flow To Earnings | 0.881 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.321 % | |
| Return On Assets QoQ | -57.314 % | |
| Return On Assets YoY | -79.37 % | |
| Return On Assets IPRWA | high: 5.765 % median: 3.698 % mean: 2.962 % FMX: 0.321 % low: -19.332 % |
|
| Return On Capital Employed (ROCE) | 2.738 % | |
| Return On Equity (ROE) | 0.011 | |
| Return On Equity QoQ | -46.087 % | |
| Return On Equity YoY | -74.065 % | |
| Return On Equity IPRWA | high: 0.133 mean: 0.068 median: 0.068 FMX: 0.011 low: -1.182 |
|
| DuPont ROE | 0.986 % | |
| Return On Invested Capital (ROIC) | 7.264 % | |
| Return On Invested Capital QoQ | 7.599 % | |
| Return On Invested Capital YoY | -160.873 % | |
| Return On Invested Capital IPRWA | FMX: 7.264 % high: 6.88 % mean: 4.06 % median: 3.403 % low: -12.05 % |
|