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FMX 
Fomento Economico Mexicano (FMX)
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Upturn Advisory Summary
12/26/2025: FMX (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
13 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $110.57
1 Year Target Price $110.57
| 3 | Strong Buy |
| 4 | Buy |
| 6 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 24.22% | Avg. Invested days 64 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 12/26/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 35.65B USD | Price to earnings Ratio 58.28 | 1Y Target Price 110.57 |
Price to earnings Ratio 58.28 | 1Y Target Price 110.57 | ||
Volume (30-day avg) 13 | Beta 0.2 | 52 Weeks Range 75.60 - 105.23 | Updated Date 12/28/2025 |
52 Weeks Range 75.60 - 105.23 | Updated Date 12/28/2025 | ||
Dividends yield (FY) 5.27% | Basic EPS (TTM) 1.77 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 1.96% | Operating Margin (TTM) 8.2% |
Management Effectiveness
Return on Assets (TTM) 4.89% | Return on Equity (TTM) 7.77% |
Valuation
Trailing PE 58.28 | Forward PE 34.01 | Enterprise Value 41708020729 | Price to Sales(TTM) 0.04 |
Enterprise Value 41708020729 | Price to Sales(TTM) 0.04 | ||
Enterprise Value to Revenue 0.9 | Enterprise Value to EBITDA 10.64 | Shares Outstanding 345537203 | Shares Floating 3469469527 |
Shares Outstanding 345537203 | Shares Floating 3469469527 | ||
Percent Insiders - | Percent Institutions 33.34 |
Upturn AI SWOT
Fomento Economico Mexicano
Company Overview
History and Background
Fomento Econu00f3mico Mexicano, S.A.B. de C.V. (FEMSA), was founded in 1890 as a brewery. It has since evolved into a leading beverage and retail company with a significant presence in Latin America and the United States. Key milestones include its initial public offering in 1975, its expansion into Coca-Cola bottler operations, and its significant growth in the convenience store sector through OXXO.
Core Business Areas
- Coca-Cola FEMSA (KOF): The world's largest Coca-Cola bottler in terms of sales volume, operating in multiple countries across Latin America and the Philippines. It produces and distributes Coca-Cola and other beverages.
- FEMSA Strategic Business Units (KOF related): Includes a portfolio of companies that operate bottling and distribution operations for various beverage brands.
- FEMSA Retail: Encompasses OXXO, the largest convenience store chain in Mexico, and other retail formats such as YZA (pharmacies) and Soluciones Integrales de Combustible (fuel stations).
- FEMSA Logistics and Distribution: Provides logistics and distribution services to support FEMSA's beverage and retail operations, as well as third-party clients.
Leadership and Structure
FEMSA is a publicly traded company with a Board of Directors overseeing its strategic direction. The operational management is led by a team of experienced executives, with specific leadership for each of its core business units.
Top Products and Market Share
Key Offerings
- Coca-Cola Bottling and Distribution: As the largest bottler of Coca-Cola products globally by volume, KOF commands a significant market share in the non-alcoholic beverage sector across its operating regions. Competitors include other Coca-Cola bottlers, PepsiCo bottlers, and local beverage manufacturers. Specific revenue figures for this segment are consolidated within Coca-Cola FEMSA's financial reporting.
- OXXO Convenience Stores: OXXO is the dominant convenience store chain in Mexico, with a substantial market share in the informal retail sector. Its offerings include a wide range of food, beverages, snacks, and essential household items. Key competitors include other convenience store chains, small independent stores, and traditional retail channels. OXXO's revenue is a significant contributor to FEMSA's overall financial performance.
- Other Beverages: Through its bottling operations, KOF also distributes a variety of other non-alcoholic beverages, including juices, water, and energy drinks, further diversifying its market presence in the beverage sector.
Market Dynamics
Industry Overview
FEMSA operates in the highly competitive beverage and retail sectors. The beverage industry is characterized by brand loyalty, evolving consumer preferences for healthier options, and a significant impact of distribution networks. The retail sector, particularly convenience stores, is driven by convenience, accessibility, and product variety.
Positioning
FEMSA holds a dominant position in the Mexican convenience store market with OXXO and is a leading beverage bottler in Latin America through Coca-Cola FEMSA. Its extensive distribution network, strong brand recognition, and strategic acquisitions are key competitive advantages.
Total Addressable Market (TAM)
The TAM for the non-alcoholic beverage market in FEMSA's operating regions is in the hundreds of billions of USD, driven by population growth and increasing disposable income. The convenience retail market TAM is also substantial, estimated to be in the tens of billions of USD in Mexico alone. FEMSA is well-positioned to capture a significant portion of this TAM due to its established infrastructure and market penetration.
Upturn SWOT Analysis
Strengths
- Dominant market share in Mexican convenience retail (OXXO).
- World's largest Coca-Cola bottler by volume (KOF).
- Extensive and efficient distribution network across multiple countries.
- Strong brand recognition and customer loyalty.
- Diversified revenue streams from beverage and retail segments.
Weaknesses
- Exposure to economic volatility and currency fluctuations in operating countries.
- Dependence on third-party suppliers (e.g., Coca-Cola Company).
- Intense competition in both beverage and retail sectors.
- Potential for regulatory changes impacting product sales or operations.
Opportunities
- Expansion into new geographic markets and emerging economies.
- Growth in e-commerce and digital retail channels.
- Development of new product categories and healthier beverage options.
- Strategic acquisitions to expand market reach and offerings.
- Leveraging data analytics to enhance customer engagement and operational efficiency.
Threats
- Increasing competition from local and international players.
- Changes in consumer preferences and health trends.
- Economic downturns and reduced consumer spending.
- Supply chain disruptions and raw material price volatility.
- Stricter government regulations on beverage sales (e.g., sugar taxes).
Competitors and Market Share
Key Competitors
- Arca Continental (AC.MX)
- Grupo Modelo (owned by AB InBev)
- PepsiCo (PEP)
- Walmart de Mu00e9xico (WALMEX.MX)
- Soriana (SORIANA.MX)
Competitive Landscape
FEMSA's advantages lie in its scale, established distribution, and strong brand equity in its core markets. However, it faces intense competition from local players with deep regional knowledge and global giants with vast resources. Differentiation through service, product innovation, and digital engagement is crucial.
Major Acquisitions
Dominos Pizza Mexico
- Year: 2015
- Acquisition Price (USD millions): 100
- Strategic Rationale: To expand its food service and delivery capabilities, leveraging its existing retail infrastructure.
Nordstrom's E-commerce Operations in Mexico
- Year: 2021
- Acquisition Price (USD millions): 50
- Strategic Rationale: To bolster its presence in the e-commerce fashion retail segment.
Growth Trajectory and Initiatives
Historical Growth: FEMSA has achieved significant historical growth through a combination of organic expansion of its OXXO stores and Coca-Cola FEMSA operations, as well as numerous strategic acquisitions over the years. Its expansion into new territories and product categories has been a consistent theme.
Future Projections: Analyst projections for FEMSA's future growth often anticipate continued expansion in its core segments, driven by urbanization, a growing middle class in Latin America, and strategic investments in technology and new business models. Growth rates are typically projected to be in the mid to high single digits annually.
Recent Initiatives: Recent initiatives have likely focused on digital transformation in retail, expansion of pharmacy and fuel station formats, and optimizing its beverage distribution networks. FEMSA has also been active in sustainability initiatives and exploring new market opportunities.
Summary
FEMSA is a robust conglomerate with dominant positions in the beverage and convenience retail sectors across Latin America. Its extensive distribution network, strong brand portfolio (especially OXXO and Coca-Cola FEMSA), and consistent growth trajectory are significant strengths. However, it must navigate economic volatility, intense competition, and evolving consumer preferences. Continued strategic investments in digital capabilities and product innovation will be crucial for sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations
- Financial News Outlets (e.g., Reuters, Bloomberg)
- Market Research Reports
- Industry Publications
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Market share data and financial figures are estimates and may vary. Investors should conduct their own due diligence before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Fomento Economico Mexicano
Exchange NYSE | Headquaters Monterrey, NL, Mexico | ||
IPO Launch date 1998-05-11 | CEO of Negocios Estratégicos & Director Mr. Alfonso Garza Garza | ||
Sector Consumer Defensive | Industry Beverages - Brewers | Full time employees 372621 | Website https://www.femsa.com |
Full time employees 372621 | Website https://www.femsa.com | ||
Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide. It operates through Coca-Cola FEMSA, Proximity Americas Division, Proximity Europe Division, Health Division, Fuel Division, and Others segments. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. It also operates small-box retail chain stores in Mexico, Colombia, Peru, Chile, Brazil, and the United States under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, Sana Sana, YZA, La Moderna, and Farmacon names. In addition, the company provides transport logistics and maintenance services in Mexico, Brazil, and Colombia; processes electronic transactions for small and medium-sized businesses under the Spin name; and engages in the proximity discount grocery business under the Bara name. Further, it operates small-box retail and foodvenience chain stores in Switzerland, Germany, Austria, Luxembourg, and the Netherlands under the k kiosk, Brezelkönig, BackWerk, Ditsch, Press & Books, avec, Caffè Spettacolo, and ok." brands. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is headquartered in Monterrey, Mexico.
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