Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Mexican (IPC) Market Analysis & Valuation

UpdatedNov 09, 2025
DataAggregated Company Financials
Companies125
  • 7D0.7%
  • 3M9.1%
  • 1Y16.6%
  • YTD21.3%

In the last week, the market has been flat. More promisingly, the market is up 17% over the past year. Earnings are forecast to grow by 12% annually.

Market Valuation and Performance

Has the Mexican Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Nov 2025Mex$10.2tMex$8.0tMex$659.8b11.8x15.5x1.3x
Tue, 07 Oct 2025Mex$9.7tMex$7.9tMex$615.0b12x15.8x1.2x
Thu, 04 Sep 2025Mex$9.5tMex$7.8tMex$616.9b12.3x15.4x1.2x
Sat, 02 Aug 2025Mex$9.2tMex$7.7tMex$608.4b11.8x15.1x1.2x
Mon, 30 Jun 2025Mex$9.3tMex$7.6tMex$601.3b12.2x15.5x1.2x
Wed, 28 May 2025Mex$9.3tMex$7.6tMex$589.5b12.5x15.8x1.2x
Fri, 25 Apr 2025Mex$9.2tMex$7.5tMex$607.1b11x15.2x1.2x
Sun, 23 Mar 2025Mex$8.7tMex$7.6tMex$596.6b10.9x14.5x1.1x
Tue, 18 Feb 2025Mex$9.0tMex$7.6tMex$617.3b11.6x14.5x1.2x
Thu, 16 Jan 2025Mex$8.5tMex$7.6tMex$613.6b11.2x13.9x1.1x
Sat, 14 Dec 2024Mex$8.7tMex$7.5tMex$602.3b12.1x14.5x1.2x
Mon, 11 Nov 2024Mex$8.6tMex$7.4tMex$594.0b11.5x14.5x1.2x
Wed, 09 Oct 2024Mex$9.0tMex$7.3tMex$587.4b12.1x15.4x1.2x
Fri, 06 Sep 2024Mex$9.0tMex$7.4tMex$591.6b11.6x15.3x1.2x
Sun, 04 Aug 2024Mex$9.0tMex$7.3tMex$584.9b11.8x15.3x1.2x
Tue, 02 Jul 2024Mex$9.0tMex$7.1tMex$583.7b13.1x15.4x1.3x
Thu, 30 May 2024Mex$9.2tMex$7.0tMex$568.6b13.4x16.2x1.3x
Sat, 27 Apr 2024Mex$9.5tMex$7.1tMex$576.0b12.9x16.4x1.3x
Mon, 25 Mar 2024Mex$9.6tMex$7.1tMex$585.2b13.6x16.4x1.4x
Wed, 21 Feb 2024Mex$9.6tMex$7.3tMex$618.6b13.3x15.5x1.3x
Fri, 19 Jan 2024Mex$9.5tMex$7.4tMex$659.0b12.7x14.4x1.3x
Sun, 17 Dec 2023Mex$9.7tMex$7.4tMex$657.6b13x14.8x1.3x
Tue, 14 Nov 2023Mex$8.8tMex$7.4tMex$657.1b11.8x13.4x1.2x
Thu, 12 Oct 2023Mex$8.9tMex$7.5tMex$664.0b12.5x13.3x1.2x
Sat, 09 Sep 2023Mex$9.2tMex$7.5tMex$660.5b12.9x13.9x1.2x
Mon, 07 Aug 2023Mex$9.4tMex$7.5tMex$660.3b13.4x14.2x1.3x
Wed, 05 Jul 2023Mex$9.3tMex$7.3tMex$637.2b13.5x14.7x1.3x
Fri, 02 Jun 2023Mex$9.1tMex$7.3tMex$638.9b13.5x14.2x1.2x
Sun, 30 Apr 2023Mex$9.6tMex$7.4tMex$668.0b12.8x14.3x1.3x
Tue, 28 Mar 2023Mex$9.4tMex$7.3tMex$666.7b12x14.1x1.3x
Thu, 23 Feb 2023Mex$9.4tMex$7.2tMex$669.6b11.7x14x1.3x
Sat, 21 Jan 2023Mex$9.5tMex$7.2tMex$659.1b11.9x14.5x1.3x
Mon, 19 Dec 2022Mex$8.9tMex$7.3tMex$651.5b11.8x13.7x1.2x
Wed, 16 Nov 2022Mex$9.2tMex$7.3tMex$649.2b11.5x14.1x1.3x
Price to Earnings Ratio

14.1x


Total Market Cap: Mex$9.2tTotal Earnings: Mex$649.2bTotal Revenue: Mex$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 14.8x202320242025
Current Market PE
  • Investors are relatively neutral on the Mexican market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 14.8x.
Past Earnings Growth
  • The earnings for Mexican listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 2.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Sector Trends

Which sectors have driven the changes within the Mexican Market?

MX Market0.67%
Real Estate1.86%
Consumer Staples1.66%
Industrials1.23%
Telecom1.08%
Financials0.52%
Healthcare0.056%
Consumer Discretionary-0.20%
Utilities-0.46%
Materials-1.15%
Energy-2.75%
Sector PE
  • Investors favour the Telecom sector the most for future growth even though it's trading below its 3-year average PE ratio of 25.6x.
    • Analysts are expecting annual earnings growth of 19.1%, which is lower than the prior year's growth of 42.1% per year.
  • The Utilities sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
WALMEX * Wal-Mart de México. deMex$62.601.9%
+Mex$20.4b		11.7%PE21.5xConsumer Staples
AMX B América Móvil. deMex$21.421.1%
+Mex$13.9b		39.1%PE19.1xTelecom
GFNORTE O Grupo Financiero Banorte. deMex$177.891.7%
+Mex$8.5b		21.6%PB1.9xFinancials
AC * Arca Continental. deMex$184.832.7%
+Mex$8.3b		6.9%PE15.5xConsumer Staples
GAP B Grupo Aeroportuario del Pacífico. deMex$398.402.9%
+Mex$5.6b		10.2%PE20.3xIndustrials
See more

Market Insights

Header cover image
⚠️ Default Distress: What Private Credit Troubles Could Mean for Regional Banks
Richard Bowman avatar
Richard Bowman
|
|
In this week’s piece, we’ll: Explain what’s happening in the world of private credit, Review why the industry presents new risks today, Identify how investors can reduce downside exposure
Continue reading
🏦 Room to Run: A Look at Where the Financial Sector Could Go
Last Week

🏦 Room to Run: A Look at Where the Financial Sector Could Go

Latest News

FEMSA UBD
Mex$176.84
Fomento Económico Mexicano. de
7D
0.9%
1Y
-9.4%

FEMSA UBD: Store Expansion in Brazil Will Drive Future Returns

Analysts have slightly lowered their price target for Fomento Económico Mexicano, de from $226.51 to $225.38. They cited modest shifts in discount rates and revenue growth projections.
BIMBO A
Mex$65.29
Grupo Bimbo. de
7D
1.7%
1Y
-1.9%

BIMBO A Will Show Stable Outlook as Revenue Increases Offset Margin Pressure

Analysts have raised their price target for Grupo Bimbo from $65 to $67. They cite improved revenue growth projections, which outweigh a slight decline in profit margin expectations.
PE&OLES *
Mex$726.64
Industrias Peñoles. de
7D
-5.5%
1Y
140.9%

Industrias Peñoles. de's (BMV:PE&OLES) Performance Is Even Better Than Its Earnings Suggest

Nov 04
Industrias Peñoles. de's (BMV:PE&OLES) Performance Is Even Better Than Its Earnings Suggest
GMXT *
Mex$32.75
GMéxico Transportes. de
7D
-4.0%
1Y
1.5%

Estimating The Fair Value Of GMéxico Transportes, S.A.B. de C.V. (BMV:GMXT)

Nov 04
Estimating The Fair Value Of GMéxico Transportes, S.A.B. de C.V. (BMV:GMXT)
AMX B
Mex$21.42
América Móvil. de
7D
1.1%
1Y
39.1%

AMX B: Profit Margins And Stable Outlook Will Sustain Upcoming Performance

Narrative Update on América Móvil: Analyst Price Target Revision Analysts have increased their price target for América Móvil from €20.65 to €20.90. This change reflects modest improvements in profit margin forecasts and continued confidence in the company's stable outlook.
GMEXICO B
Mex$159.74
Grupo México. de
7D
-0.5%
1Y
50.1%

GMEXICO B: Future Copper Prices And Project Delays Will Define Stock Outlook

Grupo México's analyst price target has been raised from MXN 143.83 to MXN 149.46, as analysts highlight improved commodity price outlooks along with adjusted revenue and profit margin expectations. Analyst Commentary Bullish Takeaways Bullish analysts have increased their price targets for Grupo México, reflecting optimistic expectations for strong commodity pricing, particularly in copper and gold.
GFNORTE O
Mex$177.89
Grupo Financiero Banorte. de
7D
1.7%
1Y
21.6%

GFNORTE O: Digital Investments And Cost Control Will Fuel Mexican Market Share

Narrative Update: Grupo Financiero Banorte Price Target Adjustment Analysts have maintained their price target for Grupo Financiero Banorte at $198.31. They cite minor revisions to the discount rate and future price-to-earnings estimates as the rationale for reaffirming the target value.
CEMEX CPO
Mex$18.81
CEMEX. de
7D
-0.4%
1Y
57.7%
GAP B
Mex$398.40
Grupo Aeroportuario del Pacífico. de
7D
2.9%
1Y
10.2%
VISTA A
Mex$875.23
Vista Energy. de
7D
-2.8%
1Y
-8.2%

Vista Energy. de's (BMV:VISTAA) Earnings Might Be Weaker Than You Think

Oct 31
Vista Energy. de's (BMV:VISTAA) Earnings Might Be Weaker Than You Think
WALMEX *
Mex$62.60
Wal-Mart de México. de
7D
1.9%
1Y
11.7%

Earnings Miss: Wal-Mart de México, S.A.B. de C.V. Missed EPS By 7.9% And Analysts Are Revising Their Forecasts

Oct 31
Earnings Miss: Wal-Mart de México, S.A.B. de C.V. Missed EPS By 7.9% And Analysts Are Revising Their Forecasts
TERRA 13
Mex$39.64
FIBRA Terrafina
7D
-4.5%
1Y
14.9%
FIBRAPL 14
Mex$77.36
FIBRA Prologis
7D
4.3%
1Y
16.3%
SORIANA B
Mex$25.74
Organización Soriana S. A. B. de C. V
7D
-2.7%
1Y
-13.0%
AC *
Mex$184.83
Arca Continental. de
7D
2.7%
1Y
6.9%

AC *: Compound Growth Will Drive Long-Term Upside From Current Levels

Narrative Update on Arca Continental Analysts have raised their price target for Arca Continental to MXN 225 from MXN 218. They note an attractive entry point, driven by expectations for continued growth compounding.
GFINBUR O
Mex$44.11
Grupo Financiero Inbursa. de
7D
-2.2%
1Y
-0.2%