FMX vs. PEP: Fomento Económico Mexicano vs. PepsiCo Stock Comparison

November 11, 2026

How do Fomento Económico Mexicano (FMX) and PepsiCo (PEP) 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

Fomento Económico Mexicano (FMX) and PepsiCo (PEP) are both classified in the Soft Drinks & Non-alcoholic Beverages sub-industry within the broader Beverages industry, placing them in the closest GICS peer bucket.

PepsiCo (PEP) trades as ordinary local shares, while Fomento Económico Mexicano (FMX) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Profile Item	FMX	PEP
Name	Fomento Economico Mexicano S.A.B. de C.V. ADR	PepsiCo, Inc.
Country/Region	Mexico	United States
GICS Sector	Consumer Staples	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco	Food, Beverage & Tobacco
GICS Industry	Beverages	Beverages
GICS Sub-Industry	Soft Drinks & Non-alcoholic Beverages	Soft Drinks & Non-alcoholic Beverages
Market Capitalization	44.24 billion USD	192.61 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	May 11, 1998	June 1, 1972
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

FMX

PEP

GSPC

Fomento Económico Mexicano (FMX) vs. PepsiCo (PEP), 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 Fomento Económico Mexicano (FMX) and PepsiCo (PEP). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Total Return (1Y)	42.35%	4.03%
Total Return (3Y, Annualized)	7.41%	-1.40%
Total Return (5Y, Annualized)	13.51%	0.55%

Risk Profile

Drawdown History

FMX

PEP

GSPC

Fomento Económico Mexicano (FMX) vs. PepsiCo (PEP), 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 Fomento Económico Mexicano (FMX) and PepsiCo (PEP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Volatility (1Y, Annualized)	24.53%	21.68%
Beta (5Y)	0.41	0.30
Max Drawdown (5Y)	-41.28%	-30.32%
Avg. Volume (3M)	526.12K	8.86M

Risk-Adjusted Performance

Risk-Return Positioning

FMX and PEP 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 Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Sharpe Ratio (1Y)	1.55	-0.01
Sortino Ratio (1Y)	2.44	-0.02

Profitability

ROE (TTM)

PepsiCo (PEP) at 52.19% clears its industry range for ROE, a sharper capital-efficiency signal than Fomento Económico Mexicano (FMX) at 14.96%, which is closer to a typical peer reading.

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%

PEP

Food, Beverage & Tobacco industry group

52.19%

PEP: 52.19%
Max: 32.02%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

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

Net Margin (TTM)

Both Fomento Económico Mexicano (FMX) at 3.99% and PepsiCo (PEP) at 11.09% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

PEP

Food, Beverage & Tobacco industry group

11.09%

Max: 24.83%
Q3: 11.22%
PEP: 11.09%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

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

Operating Margin (TTM)

Both Fomento Económico Mexicano (FMX) at 8.17% and PepsiCo (PEP) at 16.88% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

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%

PEP

Food, Beverage & Tobacco industry group

16.88%

Max: 34.91%
Q3: 17.57%
PEP: 16.88%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

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

Profitability Metrics

Profitability metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
ROE (TTM)	14.96%	52.19%
ROA (TTM)	6.56%	9.02%
Net Margin (TTM)	3.99%	11.09%
Operating Margin (TTM)	8.17%	16.88%
Gross Margin (TTM)	40.49%	54.33%

Growth

Revenue Growth

Both Fomento Económico Mexicano (FMX) at 7.60% and PepsiCo (PEP) at 2.25% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

PepsiCo (PEP) at -13.67% 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.

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

Growth Metrics

Growth metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Revenue Growth (YoY)	7.60%	2.25%
Revenue Growth (3Y CAGR)	12.10%	2.83%
EPS Growth (YoY)	-49.50%	-13.67%
EPS Growth (3Y CAGR)	-6.47%	-2.23%

Financial Strength

Current Ratio (MRQ)

Fomento Económico Mexicano (FMX) at 1.15 keeps current ratio within its industry’s typical mid-range, while PepsiCo (PEP) at 0.94 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for PEP.

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

PEP

Food, Beverage & Tobacco industry group

0.94

Max: 4.01
Q3: 2.35
Median: 1.53
Q1: 1.02
PEP: 0.94
Min: 0.33

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

Debt / Equity (MRQ)

Fomento Económico Mexicano (FMX) at 0.82 is near its industry mid-range for debt-to-equity ratio, while PepsiCo (PEP) at 2.31 sits above its benchmark range, pointing to a heavier debt load relative to equity.

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

PEP

Food, Beverage & Tobacco industry group

2.31

PEP: 2.31
Max: 2.19
Q3: 1.11
Median: 0.68
Q1: 0.33
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Current Ratio (MRQ)	1.15	0.94
Debt / Equity (MRQ)	0.82	2.31
Net Debt / EBITDA	1.34	2.12

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 PepsiCo (PEP) reports a yield of 4.07%, ranking against industry peers normally.

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%

PEP

Food, Beverage & Tobacco industry group

4.07%

Max: 9.38%
PEP: 4.07%
Q3: 3.77%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Fomento Económico Mexicano (FMX) at 39.05% and PepsiCo (PEP) at 73.02% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

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%

PEP

Food, Beverage & Tobacco industry group

73.02%

Max: 199.19%
Q3: 81.03%
PEP: 73.02%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
Dividend Yield (TTM)	0.00%	4.07%
Dividend Payout Ratio (TTM)	39.05%	73.02%

Valuation

P/E Ratio (TTM)

Fomento Económico Mexicano (FMX) at 8.40 sits in the cheaper P/E ratio quartile, while PepsiCo (PEP) at 17.78 is closer to its industry’s usual earnings multiple — a discount for FMX, though growth and earnings durability still matter.

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

PEP

Food, Beverage & Tobacco industry group

17.78

Max: 52.52
Q3: 30.78
Median: 18.76
PEP: 17.78
Q1: 12.77
Min: 4.72

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

P/S Ratio (TTM)

Fomento Económico Mexicano (FMX) at 0.05 sits in the cheaper P/S ratio quartile while PepsiCo (PEP) at 1.96 prices around its industry’s middle — FMX costs less per dollar of sales, though read it alongside growth and margins.

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

PEP

Food, Beverage & Tobacco industry group

1.96

Max: 4.64
Q3: 2.27
PEP: 1.96
Median: 1.17
Q1: 0.52
Min: 0.00

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

P/B Ratio (MRQ)

Both look rich against book: Fomento Económico Mexicano (FMX) at 3.71 sits in the upper P/B ratio quartile, and PepsiCo (PEP) at 8.65 prices even higher, above its industry range.

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

PEP

Food, Beverage & Tobacco industry group

8.65

PEP: 8.65
Max: 6.35
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

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

Valuation Metrics

Valuation metrics for Fomento Económico Mexicano (FMX) and PepsiCo (PEP)
Metric	FMX	PEP
P/E Ratio (TTM)	8.40	17.78
P/S Ratio (TTM)	0.05	1.96
P/B Ratio (MRQ)	3.71	8.65
Free Cash Flow Yield (TTM)	200.25%	4.70%