KOF

MKT CAP:$21B

Coca-Cola FEMSA, S.A.B. de C.V.

Market Cap

$21B

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

Consumer Def.·Beverages·🇲🇽·NYSE

Stock Price

$100.35+$5.51 (+5.81%)

Apr 22, 2026

Company Details

Coca-Cola FEMSA, S.A.B. de C.V., a franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages. The company offers sparkling beverages, including colas and flavored sparkling beverages; and waters and other be...

CEO

Jose Antonio Fernandez Garza-Laguera

IPO Date

Sep 14, 1993

Website

www.coca-colafemsa.com

Key Metrics TTM

Revenue

$17.1B

+11.3% YoY

Net Income

$1.5B

EPS (Diluted)

$6.91

Free Cash Flow

-$989M

Revenue / Share

$81.22

Gross Margin

46.2%

Operating Margin

14.6%

Net Margin

8.5%

FCF Margin

-5.8%

P/S

1.3x

P/E

14.8x

Earnings Reports

FY 2025

Dec 31, 2025

$16.8BEPS $6.53

Q4 2025

Feb 24, 2026

$4.5B+2.4%EPS $2.05

Q2 2025

Jul 23, 2025

$4.2B+5.0%EPS $1.45

Q1 2025

Apr 25, 2025

$4.0B+10.0%EPS $1.41

Q4 2024

Apr 9, 2025

$4.4B+19.2%EPS $2.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 19	$2.8B	$1.2B	$403M
Q4 20	$2.8B	$1.2B	-$888M
Q1 21	$2.6B	$1.1B	$339M
Q4 21	$3.1B	$1.4B	-$1.1B
Q3 22	$3.3B	$1.5B	$422M
Q1 23	$177M	$78M	$24M
Q2 23	$200M	$89M	$28M
Q3 23	$212M	$97M	$30M
Q4 23	$3.7B	$1.7B	-$1.4B
Q1 24	$3.7B	$1.6B	$495M
Q2 24	$4.0B	$1.8B	$560M
Q3 24	$4.0B	$1.8B	$554M
Q4 24	$4.4B	$2.1B	$616M
Q1 25	$4.0B	$1.8B	$532M
Q2 25	$4.2B	$1.9B	$562M
Q4 25	$4.5B	$2.1B	$788M

Valuation

Quarter	P/S	P/E
Q3 19	2.0x	30.4x
Q4 20	2.0x	28.6x
Q1 21	2.0x	28.8x
Q4 21	1.9x	23.1x
Q3 22	1.8x	22.6x
Q1 23	2.4x	27.6x
Q2 23	3.2x	35.0x
Q3 23	5.6x	72.2x
Q4 23	5.1x	61.0x
Q1 24	2.8x	34.2x
Q2 24	1.9x	23.0x
Q3 24	1.4x	17.1x
Q4 24	1.3x	15.7x
Q1 25	1.3x	15.6x
Q2 25	1.3x	15.8x
Q4 25	1.3x	14.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	$507M	$366M
Q4 20	$546M	$325M
Q1 21	$363M	$327M
Q4 21	$354M	$266M
Q3 22	$311M	$83M
Q1 23	$466M	$280M
Q2 23	$530M	$375M
Q3 23	$769M	$481M
Q4 23	$547M	$71M
Q1 24	$539M	$330M
Q2 24	$635M	$321M
Q3 24	$654M	$338M
Q4 24	$400M	-$67M
Q1 25	$160M	-$103M
Q2 25	$352M	$146M
Q4 25	$5.8B	-$965M

Capital Expenditures

Quarter	CapEx
Q3 19	$141M
Q4 20	$222M
Q1 21	$84M
Q4 21	$87M
Q3 22	$228M
Q1 23	$186M
Q2 23	$155M
Q3 23	$288M
Q4 23	$476M
Q1 24	$209M
Q2 24	$313M
Q3 24	$316M
Q4 24	$467M
Q1 25	$263M
Q2 25	$206M
Q4 25	$6.8B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 19	+9.5%	+6.5%
Q4 20	+10.1%	+67.0%
Q1 21	+1.2%	+1.1%
Q4 21	+16.1%	+80.2%
Q3 22	+17.2%	+19.4%
Q1 23	-93.7%	-95.8%
Q2 23	-92.2%	-92.3%
Q3 23	-93.1%	-95.7%
Q4 23	+11.6%	+76.4%
Q1 24	+1975.4%	+1970.6%
Q2 24	+1899.8%	+1894.3%
Q3 24	+1789.5%	+1795.6%
Q4 24	+19.2%	-25.7%
Q1 25	+10.0%	+10.4%
Q2 25	+5.0%	+5.8%
Q4 25	+11.7%	+6.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$0	0.0%
Q4 20	$11M	0.4%
Q1 21	$0	0.0%
Q4 21	$16M	0.5%
Q3 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 19	—	$123M	$722M	—
Q4 20	$345.0K	$120M	$692M	—
Q1 21	—	$104M	$689M	—
Q4 21	—	$130M	$795M	—
Q3 22	—	$166M	$865M	—
Q1 23	—	$177M	—	—
Q2 23	—	$202M	—	—
Q3 23	—	$186M	$962M	—
Q4 23	—	$172M	$955M	—
Q1 24	—	$183M	$957M	—
Q2 24	—	$203M	$1.0B	—
Q3 24	—	$192M	$1.1B	—
Q4 24	—	$207M	$1.2B	—
Q1 25	—	$207M	$1.1B	—
Q2 25	—	$228M	$1.1B	—
Q4 25	—	—	—	$1.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$143M	$0	$143M
Q2 22	$131M	$0	$131M
Q3 22	$113M	$0	$113M
Q4 22	$120M	$0	$120M
Q1 23	$2.4B	$0	$2.4B
Q2 23	$105M	$0	$105M
Q3 23	$128M	$0	$128M
Q4 23	$1.8B	$0	$1.8B
Q1 24	$122M	$0	$122M
Q2 24	$121M	$0	$121M
Q3 24	$123M	$0	$123M
Q4 24	$1.9B	$0	$1.9B
Q1 25	$87M	$0	$87M
Q2 25	$2.1B	$0	$2.1B
Q3 25	$2.0B	$0	$2.0B
Q4 25	$1.6B	$0	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 19	210M	0.0%	+0.0%
Q4 20	210M	0.0%	+0.0%
Q1 21	210M	0.0%	+0.0%
Q4 21	210M	0.0%	0.0%
Q3 22	210M	+0.0%	+0.0%
Q1 23	210M	0.0%	+0.0%
Q2 23	210M	0.0%	+0.0%
Q3 23	210M	0.0%	+0.0%
Q4 23	210M	0.0%	0.0%
Q1 24	210M	-0.0%	-0.0%
Q2 24	210M	0.0%	-0.0%
Q3 24	210M	0.0%	-0.0%
Q4 24	210M	0.0%	-0.0%
Q1 25	210M	0.0%	0.0%
Q2 25	210M	0.0%	0.0%
Q4 25	210M	+0.0%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 19	$33.6K	83K
Q4 20	$33.9K	82K
Q1 21	$31.2K	82K
Q4 21	$36.9K	84K
Q3 22	$39.2K	84K
Q1 23	$1.8K	97K
Q2 23	$2.1K	97K
Q3 23	$2.2K	97K
Q4 23	$35.1K	104K
Q1 24	$35.2K	104K
Q2 24	$38.3K	104K
Q3 24	$38.4K	104K
Q4 24	$46.9K	93K
Q1 25	$43.4K	93K
Q2 25	$45.1K	93K
Q4 25	$48.1K	93K

Revenue / Employee