ABEV vs. FMX: Ambev vs. Fomento Económico Mexicano Stock Comparison

November 11, 2026

How do Ambev (ABEV) and Fomento Económico Mexicano (FMX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Ambev (ABEV) and Fomento Económico Mexicano (FMX) both belong to the Beverages industry, though ABEV is classified under Brewers while FMX falls under Soft Drinks & Non-alcoholic Beverages.

Both Ambev (ABEV) and Fomento Económico Mexicano (FMX) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Profile Item	ABEV	FMX
Name	Ambev S.A. ADR	Fomento Economico Mexicano S.A.B. de C.V. ADR
Country/Region	Brazil	Mexico
GICS Sector	Consumer Staples	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco	Food, Beverage & Tobacco
GICS Industry	Beverages	Beverages
GICS Sub-Industry	Brewers	Soft Drinks & Non-alcoholic Beverages
Market Capitalization	43.01 billion USD	44.24 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 5, 1997	May 11, 1998
Security Type	ADR	ADR

Price Performance

Cumulative Growth

ABEV

FMX

GSPC

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX), with S&P 500 (GSPC) for reference: 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 Ambev (ABEV) and Fomento Económico Mexicano (FMX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Ambev (ABEV) and Fomento Económico Mexicano (FMX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Total Return (1Y)	15.68%	42.35%
Total Return (3Y, Annualized)	5.87%	7.41%
Total Return (5Y, Annualized)	1.96%	13.51%

Risk Profile

Drawdown History

ABEV

FMX

GSPC

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX), with S&P 500 (GSPC) for reference: 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 Ambev (ABEV) and Fomento Económico Mexicano (FMX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Ambev (ABEV) is heavily traded at around 26.44M shares per day, whereas Fomento Económico Mexicano (FMX) sees a more moderate 526.12K — larger orders in the latter may require more patience and tighter control over order sizing.

Risk profile metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Volatility (1Y, Annualized)	35.89%	24.53%
Beta (5Y)	0.56	0.41
Max Drawdown (5Y)	-38.91%	-41.28%
Avg. Volume (3M)	26.44M	526.12K

Risk-Adjusted Performance

Risk-Return Positioning

ABEV and FMX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Sharpe Ratio (1Y)	0.32	1.55
Sortino Ratio (1Y)	0.47	2.44

Profitability

ROE (TTM)

Ambev (ABEV) at 17.65% sits in the top ROE quartile, while Fomento Económico Mexicano (FMX) at 14.96% is closer to the peer norm — stronger capital efficiency for ABEV.

ABEV

Food, Beverage & Tobacco industry group

17.65%

Max: 32.02%
ABEV: 17.65%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

FMX

Food, Beverage & Tobacco industry group

14.96%

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their ROE against the Food, Beverage & Tobacco industry group benchmark.

Net Margin (TTM)

Ambev (ABEV) at 17.69% retains a top-quartile share of revenue as profit, ahead of Fomento Económico Mexicano (FMX) at 3.99%, which keeps about the industry-typical share.

ABEV

Food, Beverage & Tobacco industry group

17.69%

Max: 24.83%
ABEV: 17.69%
Q3: 11.22%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

FMX

Food, Beverage & Tobacco industry group

3.99%

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their net margin against the Food, Beverage & Tobacco industry group benchmark.

Operating Margin (TTM)

Ambev (ABEV) at 25.56% operates in the top operating margin quartile, ahead of Fomento Económico Mexicano (FMX) at 8.17%, which runs around its industry’s norm.

ABEV

Food, Beverage & Tobacco industry group

25.56%

Max: 34.91%
ABEV: 25.56%
Q3: 17.57%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

FMX

Food, Beverage & Tobacco industry group

8.17%

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their operating margin against the Food, Beverage & Tobacco industry group benchmark.

Profitability Metrics

Profitability metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
ROE (TTM)	17.65%	14.96%
ROA (TTM)	10.27%	6.56%
Net Margin (TTM)	17.69%	3.99%
Operating Margin (TTM)	25.56%	8.17%
Gross Margin (TTM)	51.78%	40.49%

Growth

Revenue Growth

Fomento Económico Mexicano (FMX) at 7.60% is around its peer norm for revenue growth, while Ambev (ABEV) at -1.35% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Ambev (ABEV) at 2.20% is around its peer norm for EPS growth, while Fomento Económico Mexicano (FMX) at -49.50% drops into the bottom quartile, signaling weaker earnings momentum.

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Revenue Growth (YoY)	-1.35%	7.60%
Revenue Growth (3Y CAGR)	3.45%	12.10%
EPS Growth (YoY)	2.20%	-49.50%
EPS Growth (3Y CAGR)	0.00%	-6.47%

Financial Strength

Current Ratio (MRQ)

Both Ambev (ABEV) at 1.06 and Fomento Económico Mexicano (FMX) at 1.15 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

ABEV

Food, Beverage & Tobacco industry group

1.06

Max: 4.01
Q3: 2.35
Median: 1.53
ABEV: 1.06
Q1: 1.02
Min: 0.33

FMX

Food, Beverage & Tobacco industry group

1.15

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their current ratio against the Food, Beverage & Tobacco industry group benchmark.

Debt / Equity (MRQ)

Ambev (ABEV) at 0.03 keeps leverage in the lower industry quartile, while Fomento Económico Mexicano (FMX) at 0.82 runs a more typical debt-to-equity mix.

ABEV

Food, Beverage & Tobacco industry group

0.03

Max: 2.19
Q3: 1.11
Median: 0.68
Q1: 0.33
ABEV: 0.03
Min: 0.00

FMX

Food, Beverage & Tobacco industry group

0.82

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their debt-to-equity ratio against the Food, Beverage & Tobacco industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Current Ratio (MRQ)	1.06	1.15
Debt / Equity (MRQ)	0.03	0.82
Net Debt / EBITDA	-0.72	1.34

Dividends

Dividend Yield (TTM)

Fomento Económico Mexicano (FMX) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Ambev (ABEV) reports a yield of 9.64%, ranking against industry peers normally.

ABEV

Food, Beverage & Tobacco industry group

9.64%

ABEV: 9.64%
Max: 9.38%
Q3: 3.77%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

FMX

Food, Beverage & Tobacco industry group

0.00%

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their dividend yield against the Food, Beverage & Tobacco industry group benchmark.

Dividend Payout Ratio (TTM)

Both Ambev (ABEV) at 74.21% and Fomento Económico Mexicano (FMX) at 39.05% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

ABEV

Food, Beverage & Tobacco industry group

74.21%

Max: 199.19%
Q3: 81.03%
ABEV: 74.21%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

FMX

Food, Beverage & Tobacco industry group

39.05%

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their payout ratio against the Food, Beverage & Tobacco industry group benchmark.

Dividend Metrics

Dividend metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
Dividend Yield (TTM)	9.64%	0.00%
Dividend Payout Ratio (TTM)	74.21%	39.05%

Valuation

P/E Ratio (TTM)

Fomento Económico Mexicano (FMX) at 8.40 sits in the cheaper P/E ratio quartile, while Ambev (ABEV) at 14.68 is closer to its industry’s usual earnings multiple — a discount for FMX, though growth and earnings durability still matter.

ABEV

Food, Beverage & Tobacco industry group

14.68

Max: 52.52
Q3: 30.78
Median: 18.76
ABEV: 14.68
Q1: 12.77
Min: 4.72

FMX

Food, Beverage & Tobacco industry group

8.40

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their P/E ratio against the Food, Beverage & Tobacco industry group benchmark.

P/S Ratio (TTM)

Both Ambev (ABEV) at 0.48 and Fomento Económico Mexicano (FMX) at 0.05 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

ABEV

Food, Beverage & Tobacco industry group

0.48

Max: 4.64
Q3: 2.27
Median: 1.17
Q1: 0.52
ABEV: 0.48
Min: 0.00

FMX

Food, Beverage & Tobacco industry group

0.05

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their P/S ratio against the Food, Beverage & Tobacco industry group benchmark.

P/B Ratio (MRQ)

Ambev (ABEV) at 2.38 is valued about in line with its industry on P/B ratio, while Fomento Económico Mexicano (FMX) at 3.71 carries an above-peer premium to book — FMX is pricier on assets.

ABEV

Food, Beverage & Tobacco industry group

2.38

Max: 6.35
Q3: 3.07
ABEV: 2.38
Median: 1.58
Q1: 0.82
Min: 0.00

FMX

Food, Beverage & Tobacco industry group

3.71

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

Ambev (ABEV) vs. Fomento Económico Mexicano (FMX): A comparison of their P/B ratio against the Food, Beverage & Tobacco industry group benchmark.

Valuation Metrics

Valuation metrics for Ambev (ABEV) and Fomento Económico Mexicano (FMX)
Metric	ABEV	FMX
P/E Ratio (TTM)	14.68	8.40
P/S Ratio (TTM)	0.48	0.05
P/B Ratio (MRQ)	2.38	3.71
Free Cash Flow Yield (TTM)	48.96%	200.25%