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FMX

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

FMX

Fomento Económico Mexicano, S.A.B. de C.V. • NYSE
$95.99 ▲ 1.95% (+1.84)
Market Cap $19.76 B
52w High $108.74
52w Low $81.08
Dividend Yield 2.62%
P/E 55.81
Volume 238.10K
Outstanding Shares 205.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $214.638B ▲ $67.584B ▲ $5.838B ▲ 2.72% ▲ $33.7 ▼ $0 ▼
Q2-2025 $203.798B ▲ $65.96B ▲ $2.615B ▼ 1.283% ▼ $78 ▼ $26.902B ▼
Q1-2025 $195.534B ▼ $65.294B ▼ $3.311B ▼ 1.693% ▼ $95.4 ▼ $28.122B ▼
Q4-2024 $216.388B ▲ $71.294B ▲ $7.05B ▲ 3.258% ▲ $202.8 ▲ $35.065B ▼
Q3-2024 $204.055B $64.532B $6.116B 2.997% $170.9 $36.14B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.744B ▼ $44.073B ▲ $26.211B ▼ $13.377B ▲
Q2-2025 $6.872B ▲ $43.989B ▲ $26.783B ▲ $12.941B ▼
Q1-2025 $5.345B ▼ $41.836B ▼ $22.686B ▼ $14.807B ▼
Q4-2024 $183.046B ▲ $851.536B ▲ $470.405B ▲ $297.502B ▲
Q3-2024 $7.947B $43.358B $24.112B $15.048B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $298.442M ▼ $1.007B ▼ $177.944M ▼ $-1.362B ▲ $-127.952M ▼ $446.645M ▼
Q2-2025 $2.712B ▼ $17.115B ▲ $26.316B ▲ $-17.904B ▼ $20.48B ▲ $8.9B ▲
Q1-2025 $5.805B ▲ $6.925B ▼ $-22.92B ▲ $-15.621B ▲ $-30.489B ▼ $-2.035B ▼
Q4-2024 $5.369B ▼ $27.65B ▲ $-29.759B ▼ $-18.944B ▼ $-15.936B ▼ $13.255B ▲
Q3-2024 $5.898B $10.972B $28.602B $-16.059B $34.342B $-1.516B

Five-Year Company Overview

Income Statement

Income Statement FMX’s income statement shows a business that has grown steadily and become more profitable over the last five years, but with some bumps along the way. Sales have climbed each year, and profits before interest and taxes have generally moved higher, which suggests good operating discipline and scale benefits in both beverages and retail. Profitability at the cash-earnings level has strengthened clearly over time, pointing to better efficiency and strong demand. The main red flag is the volatility in net income. There was a standout profit year recently, followed by a step down, even though operations themselves improved. That pattern usually reflects one‑off gains, currency swings, or accounting items rather than a change in the underlying health of the business. Overall, the core engine looks stronger than it did a few years ago, but bottom‑line swings remind readers that reported earnings can be noisy for a multinational like FMX.

Balance Sheet

Balance Sheet FMX’s balance sheet looks relatively solid and stable, with moderate growth in total assets over time. The company carries a meaningful but not extreme level of debt, which has stayed in a fairly tight range, suggesting disciplined use of leverage rather than aggressive borrowing. Equity has dipped slightly from its prior peak, but remains robust, indicating the business still has a sizeable capital cushion. Cash levels move around from year to year but are generally healthy, giving the company flexibility to fund operations, invest, and manage shocks. The overall picture is of a large, asset‑rich company with a manageable debt load and enough financial strength to keep investing in growth, though not so under‑levered that it is sitting idle on excess capital.

Cash Flow

Cash Flow FMX’s cash flow profile is a key strength. The company has consistently generated solid cash from its operations, even through more challenging periods. That reliability is important for a consumer‑focused business and helps support ongoing investment, dividends, and debt service. Free cash flow has remained positive but has been more uneven, mainly because the company has been stepping up capital spending. Recent years show higher investment in stores, logistics, and technology, which temporarily weighs on free cash flow but can support future growth if those projects deliver. In short, the engine that produces cash looks sturdy, and management appears willing to reinvest a good portion of it back into the business.

Competitive Edge

Competitive Edge FMX enjoys a very strong competitive position built on scale, reach, and brand power. Through Coca‑Cola FEMSA, it is one of the most important Coke bottlers in the world, benefiting from a highly recognized global brand and a deeply entrenched distribution network across Latin America. On top of that, the OXXO convenience store chain gives FMX one of the densest retail footprints in the region, making it extremely accessible to everyday consumers. This combination—control of both product distribution and retail shelf space—creates powerful barriers to entry. Competitors must overcome not only brand loyalty but also FMX’s logistics and store presence. The company’s move into Europe with Valora extends this model into new markets, though success there is less proven and will require careful execution. Overall, FMX operates from a position of strength but still faces competitive and regulatory pressures typical for beverages, retail, and financial services.

Innovation and R&D

Innovation and R&D FMX is leaning heavily into digital innovation and ecosystem building, which is becoming a key part of its moat. Digital@FEMSA, Spin by OXXO, and Spin Premia connect payment services, loyalty rewards, and the huge OXXO store network, effectively turning neighborhood convenience stores into financial access points. This not only deepens customer relationships but also taps into the large underbanked population in Mexico, where traditional banks are less present. On the operational side, the company is investing in supply chain digitization, telematics, and analytics to make logistics more efficient and responsive. In stores, FMX is experimenting with self‑checkout, electronic labels, digital signage, and even cashierless concepts. The strategy is to merge physical and digital channels into a seamless experience. Future innovation watch points include the scaling of Spin by OXXO, monetization of customer data responsibly, the rollout of new digital financial products, and the success of applying FMX’s retail and technology playbook to its European platform. There is clear upside potential, but also execution risk if digital and international initiatives fail to gain the expected traction.

Summary

FMX is a large, diversified consumer company whose core operations—beverages and convenience retail—have grown steadily more profitable in recent years. The underlying business trends look stronger than the sometimes volatile net income line suggests. The balance sheet is generally sound, with moderate leverage and adequate liquidity, and cash generation from operations is a notable strength, even as the company steps up investment. Strategically, FMX’s biggest advantages are its unmatched store and distribution network in Latin America, the strength of the Coca‑Cola and OXXO brands, and its push to build a digital and financial ecosystem around that footprint. These create a meaningful competitive moat, but also introduce new types of risk: regulatory scrutiny in financial services, execution challenges in Europe, and the need to balance heavy investment with steady returns. Overall, FMX appears to be transitioning from a traditional beverage and retail group into an integrated physical‑digital platform. How effectively it executes on its “FEMSA Forward” strategy—streamlining the portfolio, scaling digital offerings, and successfully expanding internationally—will likely be the key driver of its long‑term financial performance and resilience.

NEWS

October 28, 2025 · 8:55 AM UTC

FEMSA Announces Third Quarter 2025 Results

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October 14, 2025 · 5:54 PM UTC

FEMSA Schedules Conference Call to Discuss Third Quarter Financial Results

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September 17, 2025 · 9:56 PM UTC

FEMSA Announces Senior Leadership Succession Plan

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September 4, 2025 · 7:42 AM UTC

FEMSA to control 100% of OXXO Brazil

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