FMX

MKT CAP:$23B

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

Market Cap

$23B

Consumer Defensive·Beverages - Alcoholic·🇲🇽 Mexico·NYSE

Consumer Def.·Beverages·🇲🇽·NYSE

Stock Price

$117.72+$16.78 (+16.62%)

Apr 17, 2026

Company Details

Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Cost...

CEO

Jose Antonio Fernandez Garza-Laguera

IPO Date

May 11, 1998

Website

www.femsa.com

Key Metrics TTM

Revenue

$42.8B

+37.2% YoY

Net Income

$1.5B

EPS (Diluted)

$28.59

Free Cash Flow

$2.3B

Revenue / Share

$123.24

Gross Margin

41.0%

Operating Margin

10.8%

Net Margin

3.4%

FCF Margin

5.3%

P/S

0.5x

P/E

15.6x

Earnings Reports

Q1 2026

Apr 27, 2026

PENDING

FY 2025

Dec 31, 2025

$48.4BEPS $2.96

Q4 2025

Feb 25, 2026

$13.2BEPS $1.02

Q3 2025

Oct 28, 2025

$12.2BEPS $4.09

Q4 2022

Dec 31, 2022

$8.3BEPS $6.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$4.9B	$1.8B	$392M
Q1 19	$6.7B	$2.5B	$542M
Q4 19	$7.6B	$3.0B	$849M
Q1 21	$7.2B	$2.7B	$565M
Q2 22	$9.7B	$3.6B	$899M
Q3 22	$9.0B	$3.4B	$815M
Q4 22	$8.3B	$4.1B	$1.4B
Q3 25	$12.2B	$4.9B	$1.0B
Q4 25	$13.2B	$5.2B	$1.4B

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q1 19	—	—
Q4 19	—	—
Q1 21	0.9x	27.3x
Q2 22	0.7x	23.6x
Q3 22	0.7x	15.7x
Q4 22	0.7x	16.3x
Q3 25	0.6x	17.9x
Q4 25	0.5x	15.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$398M	$247M
Q1 19	$872M	$663M
Q4 19	$724M	$271M
Q1 21	$747M	$562M
Q2 22	$1.3B	$978M
Q3 22	$284M	-$151M
Q4 22	$2.0B	$1.4B
Q3 25	$1.0B	$447M
Q4 25	$1.2B	$545M

Capital Expenditures

Quarter	CapEx
Q1 16	$151M
Q1 19	$209M
Q4 19	$453M
Q1 21	$185M
Q2 22	$312M
Q3 22	$435M
Q4 22	$602M
Q3 25	$560M
Q4 25	$617M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+96.1%	+93.2%
Q3 22	+34.8%	+33.4%
Q4 22	+9.2%	+2.8%
Q3 25	+70.3%	+69.5%
Q4 25	+36.4%	+34.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$0	0.0%
Q1 19	$0	0.0%
Q4 19	$35M	0.5%
Q1 21	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$50M	0.6%
Q3 25	$0	—
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 16	$196M	$1.2B	—
Q1 19	—	—	$1.9B
Q4 19	—	—	$2.2B
Q1 21	—	—	$2.1B
Q2 22	—	—	$2.7B
Q3 22	—	—	$2.6B
Q4 22	—	—	$2.8B
Q3 25	—	—	$3.9B
Q4 25	$562M	$3.3B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$269M	$0	$269M
Q2 22	$302M	$0	$302M
Q3 22	$289M	$0	$289M
Q4 22	$249M	$62.0K	$250M
Q1 23	$318M	$0	$318M
Q2 23	$516M	$0	$516M
Q3 23	$531M	$0	$531M
Q4 23	$9.5B	$1.5B	$11.0B
Q1 24	$476M	$0	$476M
Q2 24	$382M	$0	$382M
Q3 24	$457M	$0	$457M
Q4 24	$8.0B	$2.5B	$10.5B
Q1 25	$307M	$0	$307M
Q2 25	$395M	$0	$395M
Q3 25	$6.7B	$0	$6.7B
Q4 25	$6.2B	$1.2B	$7.4B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	35M	—	—
Q1 19	36M	+1.8%	—
Q4 19	36M	0.0%	—
Q1 21	36M	0.0%	—
Q2 22	36M	0.0%	+1.8%
Q3 22	36M	0.0%	0.0%
Q4 22	36M	0.0%	0.0%
Q3 25	34M	-6.4%	-6.4%
Q4 25	347M	+935.5%	+869.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$20.1K	246K
Q1 19	$22.5K	297K
Q4 19	$24.3K	315K
Q1 21	$22.3K	321K
Q2 22	$30.2K	321K
Q3 22	$28.1K	321K
Q4 22	$23.5K	354K
Q3 25	$31.3K	389K
Q4 25	$33.9K	389K

Revenue / Employee