FMX
Consumer DefensiveFomento Económico Mexicano, S.A.B. de C.V. · Beverages - Alcoholic · $24B
What is Fomento Económico Mexicano, S.A.B. de C.V.?
Fomento Económico Mexicano — known as FEMSA — is one of Latin America's largest consumer companies, combining Coca-Cola bottling operations with a vast retail network spanning multiple countries across the region.
FEMSA generates revenue through three core engines: producing and distributing Coca-Cola trademark beverages across Latin America, operating the OXXO convenience store chain in Mexico and beyond, and running drugstore chains under several regional brand names. The company also operates OXXO GAS fuel stations in Mexico. This diversified structure means FEMSA is simultaneously a beverage manufacturer, a retailer, and a pharmacy operator — making it unlike most pure-play consumer companies.
Founded in 1890 and headquartered in Monterrey, Mexico, FEMSA has grown into a diversified consumer conglomerate with operations across ten countries.
- Coca-Cola trademark beverage bottling and distribution across Latin America
- OXXO small-box convenience stores in Mexico, Colombia, Peru, Chile, and Brazil
- OXXO GAS fuel and car care service stations in Mexico
- Drugstores under Cruz Verde, Fybeca, SanaSana, YZA, and related brands
- Commercial refrigeration equipment and logistics solutions
Is FMX a Good Stock to Buy?
UQS Score rates FMX as Below Average overall, reflecting meaningful structural challenges across several key quality dimensions.
Among the brighter spots in FEMSA's profile, the Valuation pillar comes in as Attractive — suggesting the market may already be pricing in much of the company's uncertainty. The Growth and Risk pillars both land at Neutral, indicating neither a compelling expansion story nor an alarming near-term threat profile.
The Quality and Moat pillars are both rated Weak, pointing to below-average returns on capital and limited durable competitive advantages relative to peers in the Consumer Defensive sector.
See the exact pillar breakdown and underlying financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FMX pay dividends?
Yes — Fomento Económico Mexicano, S.A.B. de C.V. pays a dividend.
FEMSA pays a regular dividend, which is consistent with its position as a large, established consumer conglomerate in Latin America. The dividend reflects the relatively stable cash flows generated by its convenience retail and bottling operations. Investors seeking income exposure to emerging-market consumer staples may find the dividend cadence relevant, though currency dynamics can affect realized yields for US-based holders.
When does FMX report earnings?
Fomento Económico Mexicano reports earnings on a quarterly cadence, typical for companies listed on US exchanges as ADRs.
FEMSA's results reflect the interplay of its bottling volumes, OXXO store traffic, and pharmacy network performance across multiple Latin American markets. Currency fluctuations and regional economic conditions can create variability quarter to quarter.
For the most recent quarter's results and guidance, visit Fomento Económico Mexicano's official investor relations page.
FMX Price History
+65.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Fomento Económico Mexicano, S.A.B. de C.V.?
Based on Fomento Económico Mexicano, S.A.B. de C.V.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FMX Long-term Outlook
With Growth and Risk both rated Neutral, FEMSA's fundamental trajectory appears stable rather than accelerating. The Attractive Valuation label suggests the current price may offer a margin of safety, but the Weak Quality and Moat ratings indicate that structural improvement — not just price — would be needed to elevate the overall investment case. The company's diversified Latin American footprint provides some resilience, while also exposing it to multi-country regulatory and currency risk.
Growth drivers
- Continued OXXO store expansion across Mexico and other Latin American markets
- Pharmacy network growth through regional drugstore brands
- Steady Coca-Cola beverage volume supported by brand loyalty across ten countries
Key risks
- Currency depreciation across Latin American markets reducing reported earnings
- Weak Moat rating signals limited pricing power relative to sector peers
- Regulatory and macroeconomic volatility across multiple emerging-market jurisdictions
FMX vs Peers
FEMSA operates in a competitive landscape that includes major beverage and consumer staples companies with overlapping Latin American or global footprints.
Heineken is a global brewer with strong brand equity across premium beer segments, competing with FEMSA primarily in the broader Latin American beverage market.
Molson Coors focuses on beer production and distribution in North America, sharing some geographic overlap with FEMSA's Mexican consumer base.
Ambev is a major Latin American beverage bottler and brewer, making it one of FEMSA's most direct regional competitors in markets like Brazil and Argentina.
Frequently Asked Questions
What does Fomento Económico Mexicano do?
FEMSA is a large Latin American consumer conglomerate. It bottles and distributes Coca-Cola trademark beverages across ten countries, operates the OXXO convenience store chain, runs OXXO GAS fuel stations in Mexico, and manages pharmacy chains under several regional brand names including Cruz Verde and Fybeca.
Does FMX pay dividends?
Yes, FEMSA pays a regular dividend. The company's diversified consumer operations — spanning bottling, retail, and pharmacy — generate relatively stable cash flows that support dividend distributions. US-based investors holding the ADR should be aware that currency conversion can affect the realized dividend amount.
When does FMX report earnings?
Fomento Económico Mexicano reports earnings on a quarterly cadence, consistent with US-listed ADR standards. For exact dates and the most recent quarterly results, check the investor relations section of FEMSA's official website.
Is FMX a good stock to buy?
UQS Score rates FMX as Below Average, driven by Weak Quality and Moat pillars. The Valuation pillar is Attractive, which may interest value-oriented investors, but structural concerns around returns and competitive positioning temper the overall picture. The full pillar breakdown is available to UQS Pro members.
Is FMX overvalued?
Based on the UQS Valuation pillar, FMX is rated Attractive — meaning the current market price appears to reflect, or more than reflect, the company's fundamentals relative to peers. This does not guarantee upside, but it suggests the stock is not trading at a premium relative to its quality profile.
How does FMX compare to its competitors?
FEMSA's closest regional peer is Ambev, which also operates as a major Latin American beverage company. Heineken and Molson Coors compete in the broader beverage space. FEMSA's distinguishing feature is its retail diversification through OXXO and pharmacy chains, which most pure-play beverage peers do not have.
What is FMX's market cap bracket?
FMX is classified as a large-cap stock, reflecting FEMSA's scale as one of Latin America's most significant consumer companies with operations spanning bottling, convenience retail, fuel stations, and pharmacy chains across the region.
Who founded Fomento Económico Mexicano?
FEMSA traces its origins to 1890 in Monterrey, Mexico. The company evolved over more than a century from a regional brewery into the diversified consumer conglomerate it is today. Detailed founding history is widely available through FEMSA's official corporate communications.
Is FMX a long-term quality investment?
As a long-term quality indicator, FMX's UQS profile presents a mixed picture. The Neutral Growth and Risk ratings suggest stability, but the Weak Quality and Moat scores indicate the company has not demonstrated the durable competitive advantages or capital efficiency typically associated with high-conviction long-term holdings in the Consumer Defensive sector.
What is the main competitive advantage of FEMSA?
FEMSA's primary advantage is its diversified, deeply embedded presence across Latin American consumer channels — from Coca-Cola distribution to OXXO's ubiquitous convenience stores. However, the UQS Moat pillar rates this advantage as Weak, suggesting the company's structural edge may be narrower than its scale implies.
What sector does FMX belong to?
FMX is classified in the Consumer Defensive sector. This reflects the relatively stable demand for its core products — beverages, convenience retail, and pharmacy services — which tend to hold up better than discretionary categories during economic downturns.
Is FMX a growth stock or value stock?
Based on UQS pillar labels, FMX leans toward value rather than growth. The Growth pillar is Neutral, indicating no standout expansion trajectory, while the Valuation pillar is Attractive — a combination more consistent with a value-oriented profile than a high-growth one.
Unlock the Full FMX Analysis
Sign in to unlock the detailed analysis behind the UQS Score.
- ✓View the exact UQS Score and all five pillar ratings
- ✓Access underlying financial metrics driving each pillar
- ✓Compare FMX against sector peers on quality and valuation
- ✓See the complete analyst-style breakdown for Pro members
- ✓Track score changes as new earnings data becomes available
Pro Analysis
FMX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 40.3 | 29.1 | 18.0 | 50.0 | 33.0 | 90.8 | 0.0 |
| May 21, 2026 | 40.3 | 29.1 | 18.0 | 50.0 | 33.0 | 90.6 | 0.0 |
| May 19, 2026 | 40.3 | 29.0 | 18.0 | 50.0 | 33.0 | 90.4 | 0.0 |
| May 15, 2026 | 40.3 | 29.1 | 18.0 | 50.0 | 33.0 | 90.5 | 0.0 |
| May 12, 2026 | 40.3 | 29.0 | 18.0 | 50.0 | 33.0 | 90.6 | -0.1 |
| May 10, 2026 | 40.4 | 29.2 | 18.0 | 50.0 | 33.0 | 91.3 | +2.3 |
| May 8, 2026 | 38.1 | 9.5 | 18.0 | 50.0 | 41.7 | 100.0 | -1.0 |
| May 3, 2026 | 39.1 | 14.0 | 18.0 | 50.0 | 48.4 | 92.5 | -0.4 |
| May 1, 2026 | 39.5 | 14.0 | 18.0 | 50.0 | 48.4 | 94.9 | -3.7 |
| Apr 26, 2026 | 43.2 | 29.8 | 18.0 | 50.0 | 48.4 | 92.9 | +0.1 |
FMX — Pillar Breakdown
Quality
— 29.1/100 (25%)Fomento Económico Mexicano, S.A.B. de C.V. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 50.0/100 (20%)Fomento Económico Mexicano, S.A.B. de C.V. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 33.0/100 (15%)Fomento Económico Mexicano, S.A.B. de C.V. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 90.8/100 (15%)Fomento Económico Mexicano, S.A.B. de C.V. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 18/100 (25%)Fomento Económico Mexicano, S.A.B. de C.V. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FMX.
Score Composition
Financial Data
More Stock Analysis
How is the FMX UQS Score Calculated?
The UQS (Unified Quality Score) for Fomento Económico Mexicano, S.A.B. de C.V. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Fomento Económico Mexicano, S.A.B. de C.V.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Fomento Económico Mexicano, S.A.B. de C.V. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.