Fomento Economico Mexicano (FMX) Fair Value & Analysis
Consumer Defensive · US · Market cap $43.1B · ISIN US3444191064
What is Fomento Economico Mexicano really worth?
Fomento Economico Mexicano
FMX · US
A solid business, but trading 121% above our fair value of $54.74.
Risks
For context
Fair value as of: Sep 2, 2026
From 8 valuation models · updated 2 days ago
Share price −4.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($71.16). The favourable scenario is already priced in.
- Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($38.32 to $71.16) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.
How to read this chart
60‑month range $50.12 – $133.17 · fair‑value band $38.32 – $71.16 · the $121.08 price screens above the $54.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.
Analysis
Fomento Economico Mexicano (FMX) currently trades at $121.08, while our model-based Fair Value estimate is $54.74, implying the stock looks roughly 121.2% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of $54.74 per share, and 0 of the 8 models we run sit above the $121.08 price. Bear case: the Earnings-Based group reads lowest at $13.86, and 8 of the 8 models stay below the price. Evidence for this calculation is medium.
Revenue grew 6.1% year over year. It earns a return on equity of 12.4%. Net debt stands at $8.3B. The stock trades on a trailing P/E of 26.3. Fundamentals as of Sep 2, 2026
Our scenario range runs from $38.32 (bear case) to $71.16 (bull case); at $121.08, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 15% fair-value upside, at −55%, FMX screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $3.13 per share, which is 5.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 8 models by family
Widest divergence: Growth Earnings ($54.74) versus Earnings-Based ($13.86). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 78
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide. The company operates through Coca-Cola FEMSA, Proximity Americas Division, Proximity Europe Division, Health Division, Fuel Division, and Others segments.
Full company description
Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide. The company operates through Coca-Cola FEMSA, Proximity Americas Division, Proximity Europe Division, Health Division, Fuel Division, and Others segments. It produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. The company 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Fomento Economico Mexicano reported revenue of $46.6B in FY2025 versus $505B in FY2021, a compound −44.9%/yr. Reported net income was $1.1B in FY2025, compounding −55.9%/yr from FY2021.
of which total revenue −2.3 % · buybacks/dilution +3.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
FMX screens 121% overvalued. Compare with Anheuser-Busch InBev SA →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- FMX to Host Investor Day on October 13, 2026
- Zacks Industry Outlook The Coca-Cola, Monster, Fomento, Primo and The Vita Coco
Peer Group
Beverages - Brewers · 56 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Beverages - Brewers median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Beverages - Brewers stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Anheuser-Busch InBev SA ABI | €68.28 | €60.24 | −12% |
| Heineken N.V HEIA | €72.70 | €65.06 | −11% |
| Ambev S.A ABEV | $2.86 | $4.05 | +42% |
| Constellation Brands, Inc STZ | $129.09 | $173.19 | +34% |
| Carlsberg A/S CARLA | kr 1,115 | kr 607.30 | −46% |
| Heineken Holding HEIO | €68.25 | €60.55 | −11% |
| Tsingtao Brewery Company 600600 | ¥51.63 | ¥63.65 | +23% |
| Budweiser Brewing Company 1876 | HK$6.35 | HK$6.05 | −5% |
| China Resources Beer (Holdings) Company 0291 | HK$22.16 | HK$25.38 | +15% |
| Molson Coors Canada Inc TPXA | C$63.00 | C$105.41 | +67% |
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