Fomento Economico Mexicano S.A.B. de C.V. - ADR
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+ FollowMarket Cap$44.41B
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Earnings Call Q2 2026
October 28, 2026 - AI Summary
Strong Q2 momentum at OXXO Mexico (but World Cup boosted comps)
- OXXO Mexico delivered revenues +11.8% YoY driven by same-store sales +9.5% (traffic +2% for the first positive in 8 quarters, ticket +7.4%).
- Company estimate: ~60% of the uplift was attributable to the World Cup (split between Panini collectibles and consumption tied to 4 Mexico games in June); on a normalized basis traffic ~+1% and ticket +6.2%.
Strategic shift: “customer-centric” retail algorithm (price/gross margin/assortment)
- Management says prior focus on margin expansion sometimes reduced competitiveness; now refocusing on customers to drive sustained traffic while keeping operating margin stable.
- Four pillars highlighted:
1) Impulse: sharper price-pack architecture, promotions, and assortment with lower-cost alternatives
2) Prepared food & coffee: better food products + simplifying pricing; coffee execution improved; targeted coffee pilots in select regions with early encouraging results
3) Daily & replenishment: grow grocery relevance via supplier partnership and possible private label
4) Beyond trade/services: digitization via OXXO + Spin
FEMSA consolidated financials: profit up strongly; tailwinds fading in H2
- Consolidated revenues +9.3% YoY; operating income +7.2% YoY with operating leverage (OXXO Mexico + international).
- Net income +64.9% to MXN 9.2bn, mainly from operating income growth and lower net financing expenses (non-cash FX loss MXN 655m vs MXN 4.1bn prior year), plus better associate results.
- CFO flagged external pressures ahead: World Cup over and consumer environment still sluggish, especially Mexico, so Q3-Q4 are expected to face tougher comps and weaker tailwinds.
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$136.40
4.8% upsideFomento Economico Mexicano S.A.B. de C.V. Target Price Details
Target Price by Analysts
4.8% upsideFomento Economico Mexicano S.A.B. de C.V. Target Price Details
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Share Statistics
| Market cap | $44.41 Billion |
|---|---|
| Enterprise Value | $52.88 Billion |
| Annual dividend | $7.47 |
| Dividend yield | 5.62% |
| Earnings per Share | $2.9 |
| Beta | 0.18 |
| Outstanding Shares | 341,273,200 |
Return
| Return on Equity | 111.34% |
|---|---|
| Return on Assets | 30.04% |
| Return on Invested Capital | 75.05% |
Valuation & Multiples
| P/E Ratio | 22.31 |
|---|---|
| PEG | 14.74 |
| Price to Sales | 0.09 |
| Price to Book Ratio | 2.6 |
| Enterprise Value to Revenue | 0.11 |
| Enterprise Value to EBIT | 2.19 |
| Enterprise Value to Net Income | 3 |
| Total Debt to Enterprise | 0.27 |
| Debt to Equity | 1.17 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 28, 2026
EPS Estimate
$1.18
Consensus analyst estimateRevenue Estimate
$12.84 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 24, 2027
EPS Estimate
$1.93
Consensus analyst estimateRevenue Estimate
$12.90 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 28.00% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.67%▼ 17.66% |
|---|---|
| Total Invested | $677.72M▼ 91.83% |
| Investors Holding | 96▼ 256.00% |
About Fomento Economico Mexicano S.A.B. de C.V.
370,426 employees
CEO: Miguel Eduardo Padilla Silva
Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) engages in a diverse range of activities, notably serving as a major bottler for Coca-Cola branded drinks via its various subsidiaries. It handles the production, marketing, and distribu...