FMX Q4 2025 Earnings Report — Fomento Económico Mexicano, S.A.B. de C.V. Revenue & Financial Results | Market Cap Arena

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

Q4 2025 Earnings

Reported February 25, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2025	Q3 2025	Q4 2024	QoQ Change	YoY Change
Revenue	$13.2B	$12.2B	—	8.2%	—
Op. Income	$1.4B	$1.0B	—	38.9%	—
Gross Margin	39.2%	39.9%	—	-0.7pp	—
Net Margin	3.7%	1.1%	—	2.6pp	—
EPS (Diluted)	$1.02	$4.09	—	-75.1%	—
Free Cash Flow	$545M	$447M	—	22.1%	—

Revenue Flow

Item	Amount
REVENUE	$13.2B
Cost of Revenue	$7.3B
GROSS PROFIT	$5.2B
R&D Expenses	$0
Selling & Marketing	$3.3B
General & Administrative	$562M
SG&A Expenses	$3.9B
Other Expenses	-$62M
Operating Expenses	$3.8B
Cost & Expenses	$11.7B
OPERATING INCOME	$1.4B
Interest Income	$89M
Interest Expense	$305M
Other Income/Expenses	-$415M
INCOME BEFORE TAX	$996M
Income Tax Expense	$403M
Net Income from Continuing Ops	$593M
Net Income from Discontinued Ops	$137M
Other Adjustments	$0
NET INCOME	$490M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$353M
D&A	$412M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$13.2B
Cost of Revenue	$7.3B
GROSS PROFIT	$5.2B
R&D Expenses	$0
Selling & Marketing	$3.3B
General & Administrative	$562M
SG&A Expenses	$3.9B
Other Expenses	-$62M
Operating Expenses	$3.8B
Cost & Expenses	$11.7B
OPERATING INCOME	$1.4B
Interest Income	$89M
Interest Expense	$305M
Other Income/Expenses	-$415M
INCOME BEFORE TAX	$996M
Income Tax Expense	$403M
Net Income from Continuing Ops	$593M
Net Income from Discontinued Ops	$137M
Other Adjustments	$0
NET INCOME	$490M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$353M
D&A	$412M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$490M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$1.3B
Change in Working Capital	-$673M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$617M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$268M
NET CASH FROM INVESTING	-$268M
Net Debt Issuance	$94M
Common Stock Repurchased	-$456M
Common Dividends Paid	-$890M
Other Financing Activities	-$372M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$545M
Net Change in Cash	-$765M

Balance Sheet

Item	Amount
Cash & Equivalents	$6.2B
Short-Term Investments	$1.2B
Net Receivables	$2.8B
Inventory	$4.0B
Other Current Assets	$2.1B
TOTAL CURRENT ASSETS	$16.3B
PP&E (Net)	$16.6B
Goodwill	$2.7B
Intangible Assets	$5.7B
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$3.0B
TOTAL NON-CURRENT ASSETS	$29.5B
TOTAL ASSETS	$45.8B
Account Payables	$5.4B
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$3.5B
TOTAL CURRENT LIABILITIES	$12.1B
Long-Term Debt	$7.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$477M
Other Non-Current Liabilities	$1.5B
TOTAL NON-CURRENT LIABILITIES	$14.7B
TOTAL LIABILITIES	$26.8B
Common Stock	$164M
Additional Paid-In Capital	-$982M
Retained Earnings	$16.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.1B
Minority Interest	$4.9B
TOTAL EQUITY	$18.9B
TOTAL LIABILITIES & EQUITY	$45.8B
Total Debt	$14.8B
Net Debt	$8.6B