Fomento Económico Mexicano (FMX) Stock Analysis

November 11, 2026

This is a peer-relative look at Fomento Económico Mexicano (FMX): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Food, Beverage & Tobacco peers, so every number reads in context rather than in isolation.

Company Profile

Fomento Económico Mexicano (FMX) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for Fomento Económico Mexicano (FMX)
Profile Item	FMX
Name	Fomento Economico Mexicano S.A.B. de C.V. ADR
Country/Region	Mexico
GICS Sector	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco
GICS Industry	Beverages
GICS Sub-Industry	Soft Drinks & Non-alcoholic Beverages
Market Capitalization	44.24 billion USD
Currency	USD
Exchange	NYSE
Listing Date	May 11, 1998
Security Type	ADR

Price Performance

Cumulative Growth

FMX

GSPC

Fomento Económico Mexicano (FMX) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Fomento Económico Mexicano (FMX) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Fomento Económico Mexicano (FMX) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Total Return (1Y)	42.35%	9.07%
Total Return (3Y, Annualized)	7.41%	2.06%
Total Return (5Y, Annualized)	13.51%	1.14%

Risk Profile

Drawdown History

FMX

GSPC

Fomento Económico Mexicano (FMX) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Fomento Económico Mexicano (FMX) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Volatility (1Y, Annualized)	24.53%	32.65%
Beta (5Y)	0.41	0.43
Max Drawdown (5Y)	-41.28%	-51.71%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. FMX is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Sharpe Ratio (1Y)	1.55	0.14
Sortino Ratio (1Y)	2.44	0.20

Profitability

ROE (TTM)

Fomento Económico Mexicano (FMX) posts ROE of 14.96%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

FMX

Food, Beverage & Tobacco industry group

14.96%

Group distribution

Max: 32.02%
Q3: 16.61%
FMX: 14.96%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

Largest peers

PEP: 52.19%
KO: 40.59%
FMX: 14.96%
BTI: 13.42%
PM: --
BUD: --
MO: --

Where Fomento Económico Mexicano (FMX) stands on ROE within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Fomento Económico Mexicano (FMX) keeps 3.99% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

FMX

Food, Beverage & Tobacco industry group

3.99%

Group distribution

Max: 24.83%
Q3: 11.22%
Median: 5.94%
FMX: 3.99%
Q1: 2.05%
Min: -11.49%

Largest peers

MO: 39.33%
KO: 28.65%
BTI: 24.99%
PM: 24.83%
BUD: 15.42%
PEP: 11.09%
FMX: 3.99%

Where Fomento Económico Mexicano (FMX) stands on net margin within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Fomento Económico Mexicano (FMX) turns 8.17% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

FMX

Food, Beverage & Tobacco industry group

8.17%

Group distribution

Max: 34.91%
Q3: 17.57%
Median: 11.06%
FMX: 8.17%
Q1: 4.15%
Min: -15.06%

Largest peers

MO: 61.48%
PM: 41.94%
BTI: 34.91%
KO: 33.36%
BUD: 27.48%
PEP: 16.88%
FMX: 8.17%

Where Fomento Económico Mexicano (FMX) stands on operating margin within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
ROE (TTM)	14.96%	10.05%
ROA (TTM)	6.56%	5.25%
Net Margin (TTM)	3.99%	5.94%
Operating Margin (TTM)	8.17%	11.06%
Gross Margin (TTM)	40.49%	34.26%

Growth

Revenue Growth

Fomento Económico Mexicano (FMX) grew revenue 7.60%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Fomento Económico Mexicano (FMX): Revenue Growth across different time periods, set against Food, Beverage & Tobacco industry-group medians.

EPS Growth

Fomento Económico Mexicano (FMX) grew earnings per share -49.50%, in the lower peer quartile. Per-share profits are advancing more slowly than at most peers, so margins, costs, or share count deserve a closer look.

Fomento Económico Mexicano (FMX): EPS Growth across different time periods, set against Food, Beverage & Tobacco industry-group medians.

Growth Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Revenue Growth (YoY)	7.60%	2.38%
Revenue Growth (3Y CAGR)	12.10%	2.51%
EPS Growth (YoY)	-49.50%	-2.47%
EPS Growth (3Y CAGR)	-6.47%	4.29%

Financial Strength

Current Ratio (MRQ)

Fomento Económico Mexicano (FMX) has current ratio of 1.15, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

FMX

Food, Beverage & Tobacco industry group

1.15

Group distribution

Max: 4.01
Q3: 2.35
Median: 1.53
FMX: 1.15
Q1: 1.02
Min: 0.33

Largest peers

KO: 1.38
FMX: 1.15
PM: 1.02
PEP: 0.94
BTI: 0.84
MO: 0.58
BUD: --

Where Fomento Económico Mexicano (FMX) stands on current ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Fomento Económico Mexicano (FMX) has debt-to-equity ratio of 0.82, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

FMX

Food, Beverage & Tobacco industry group

0.82

Group distribution

Max: 2.19
Q3: 1.11
FMX: 0.82
Median: 0.68
Q1: 0.33
Min: 0.00

Largest peers

PEP: 2.31
KO: 1.07
FMX: 0.82
BTI: 0.72
BUD: 0.72
PM: --
MO: --

Where Fomento Económico Mexicano (FMX) stands on debt-to-equity ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Current Ratio (MRQ)	1.15	1.53
Debt / Equity (MRQ)	0.82	0.68
Net Debt / EBITDA	1.34	2.57

Dividends

Dividend Yield (TTM)

Fomento Económico Mexicano (FMX) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

FMX

Food, Beverage & Tobacco industry group

0.00%

Group distribution

Max: 9.38%
Q3: 3.77%
Median: 1.76%
FMX: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MO: 5.53%
PEP: 4.07%
BTI: 3.88%
PM: 2.98%
KO: 2.19%
BUD: 1.91%
FMX: 0.00%

Where Fomento Económico Mexicano (FMX) stands on dividend yield within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Fomento Económico Mexicano (FMX) has payout ratio of 39.05%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

FMX

Food, Beverage & Tobacco industry group

39.05%

Group distribution

Max: 199.19%
Q3: 81.03%
Median: 41.52%
FMX: 39.05%
Q1: 0.00%
Min: 0.00%

Largest peers

MO: 88.45%
PM: 87.74%
BTI: 83.97%
PEP: 73.02%
KO: 61.95%
FMX: 39.05%
BUD: 27.35%

Where Fomento Económico Mexicano (FMX) stands on payout ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
Dividend Yield (TTM)	0.00%	1.76%
Dividend Payout Ratio (TTM)	39.05%	41.52%

Valuation

P/E Ratio (TTM)

Fomento Económico Mexicano (FMX) trades at P/E ratio of 8.40, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

FMX

Food, Beverage & Tobacco industry group

8.40

Group distribution

Max: 52.52
Q3: 30.78
Median: 18.76
Q1: 12.77
FMX: 8.40
Min: 4.72

Largest peers

PM: 28.89
KO: 28.22
PEP: 17.78
BUD: 17.07
MO: 15.69
BTI: 15.61
FMX: 8.40

Where Fomento Económico Mexicano (FMX) stands on P/E ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Fomento Económico Mexicano (FMX) trades at 0.05 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

FMX

Food, Beverage & Tobacco industry group

0.05

Group distribution

Max: 4.64
Q3: 2.27
Median: 1.17
Q1: 0.52
FMX: 0.05
Min: 0.00

Largest peers

KO: 8.06
PM: 7.15
MO: 6.14
BTI: 5.08
BUD: 2.58
PEP: 1.96
FMX: 0.05

Where Fomento Económico Mexicano (FMX) stands on P/S ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Fomento Económico Mexicano (FMX) trades at 3.71 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

FMX

Food, Beverage & Tobacco industry group

3.71

Group distribution

Max: 6.35
FMX: 3.71
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

Largest peers

KO: 11.01
BUD: 10.60
BTI: 10.59
PEP: 8.65
FMX: 3.71
PM: -38.86
MO: -56.93

Where Fomento Económico Mexicano (FMX) stands on P/B ratio within its Food, Beverage & Tobacco peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Fomento Económico Mexicano (FMX) metric values compared with Food, Beverage & Tobacco industry-group medians
Metric	Current stock: FMX	Industry group median
P/E Ratio (TTM)	8.40	18.76
P/S Ratio (TTM)	0.05	1.17
P/B Ratio (MRQ)	3.71	1.58
Free Cash Flow Yield (TTM)	200.25%	4.66%