FMX
Fomento Económico Mexicano, S.A.B. de C.V.
FMX's fundamentals are strong, but it looks expensive: trading at 23x earnings, above its usual 20x. Analysts expect earnings growth.
FMX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
FMX's revenue, profitability, cash flow and balance sheet are all currently healthy.
FMX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $61.68 | -53% |
| Fair | 20x | $111 | -15% |
| Expensive | 23x | $132 | +0.7% |
| Current | 23x | $131 | — |
Historical ranges are pointers, not guarantees.
FMX's PE is in its expensive range at 23x.
FMX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for FMX, with profitability improving.
FMX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $5.61 | +176% |
FMX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.8B | +20% |
| Q2 2026 | $13.2B | +17% |
| Q1 2026 | $11.6B | +23% |
| Q4 2025 | $12B | +20% |
FMX's revenue is recovering but still below its 2016 peak: $13.8B last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.4% | N/A |
| Q2 2026 | 8.3% | -0.1 points |
| Q1 2026 | 6.9% | -1.4 points |
| Q4 2025 | 11% | +4.5 points |
| Q3 2025 | 8.3% | N/A |
| Q2 2025 | 8.3% | N/A |
| Q1 2025 | 6.4% | N/A |
| Q4 2024 | -23% | N/A |
FMX's operating margin was 8.4% last quarter, about level with the same quarter a year ago.
FMX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.4B | +202% |
| Q1 2026 | $841.5M | +$940.2M |
| Q4 2025 | $1.2B | +90% |
FMX still generates free cash flow, though less than at its 2016 peak: $3.5B over the past year.
FMX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +1.9% | +6.2M shares |
FMX has 341M diluted shares, up 1.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $57,211 |
| Q1 2026 | $305.8M |
| Q4 2025 | $283.2M |
| Q3 2025 | $575,732 |
| Q2 2025 | $319.7M |
| Q1 2025 | $62.5M |
| Q4 2024 | $7,098 |
FMX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.1x | Healthy |
| Q3 2025 | 1.3x | Healthy |
FMX's net debt is about 1.1 years of its operating earnings (EBITDA).
FMX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.4 | Neutral |
| Stochastic | 73.7 | Neutral |
FMX's weekly RSI is 62 (neutral) and its Stochastic is 74 (neutral).
FMX PE vs Consumer Defensive Sector
| Metric | FMX | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 19x | 20% above |
| PE % | 81 | 18 | 63 pts above |
FMX is trading at 23x earnings, a 20% premium to the Consumer Defensive sector's median of 19x.
FMX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $124.5 | 5% above |
| 20 week MA | $123.7 | 5.6% above |
| 50 week MA | $117.0 | 12% above |
| 100 week MA | $106.1 | 23% above |
| 200 week MA | $107.7 | 21% above |
FMX has climbed back above all five of its weekly moving averages, and it's now 21% above its 200-week average.
FMX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $94.7 | $74.6 | -21% |
| 2021 | $74.6 | $75.4 | +1% |
| 2022 | $75.4 | $79.9 | +6.1% |
| 2023 | $79.9 | $130.4 | +63% |
| 2024 | $130.4 | $87.3 | -33% |
| 2025 | $87.3 | $103.2 | +18% |
| 2026 YTD | $103.2 | $130.7 | +27% |
FMX has finished higher in four of the last six years. It's up 27% so far in 2026.