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Mexican (IPC) Market Analysis & Valuation

UpdatedMay 13, 2026
DataAggregated Company Financials
Companies119
  • 7D0.7%
  • 3M0.9%
  • 1Y19.0%
  • YTD9.6%

The market is up 2.3% over the last week, with the Materials sector leading the way, up 7.2%. Meanwhile, the Energy sector has underperformed, shrinking 7.2% in that time. As for the past 12 months, the market is up 20%. As for the next few years, earnings are expected to grow by 8.4% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 May 2026Mex$10.8tMex$7.6tMex$707.0b13x15.3x1.4x
Fri, 10 Apr 2026Mex$10.9tMex$7.6tMex$677.8b13.8x16.1x1.4x
Sun, 08 Mar 2026Mex$10.4tMex$7.7tMex$671.4b13.9x15.5x1.4x
Tue, 03 Feb 2026Mex$10.3tMex$7.8tMex$662.2b13.5x15.6x1.3x
Thu, 01 Jan 2026Mex$10.1tMex$7.7tMex$663.2b13.9x15.2x1.3x
Sat, 29 Nov 2025Mex$10.1tMex$8.0tMex$659.7b13.1x15.3x1.3x
Mon, 27 Oct 2025Mex$9.9tMex$7.9tMex$651.1b12x15.2x1.2x
Wed, 24 Sep 2025Mex$9.9tMex$7.9tMex$613.9b12.2x16.1x1.3x
Fri, 22 Aug 2025Mex$9.4tMex$7.8tMex$617.9b12.1x15.2x1.2x
Sun, 20 Jul 2025Mex$9.1tMex$7.6tMex$600.5b12.3x15.1x1.2x
Tue, 17 Jun 2025Mex$9.1tMex$7.6tMex$591.4b12.1x15.4x1.2x
Thu, 15 May 2025Mex$9.2tMex$7.6tMex$590.8b11.9x15.5x1.2x
Sat, 12 Apr 2025Mex$8.5tMex$7.6tMex$610.6b10.6x13.9x1.1x
Mon, 10 Mar 2025Mex$8.7tMex$7.6tMex$598.7b10.6x14.5x1.2x
Wed, 05 Feb 2025Mex$8.6tMex$7.6tMex$614.0b11.6x14x1.1x
Fri, 03 Jan 2025Mex$8.5tMex$7.6tMex$613.1b11.7x13.9x1.1x
Sun, 01 Dec 2024Mex$8.4tMex$7.4tMex$602.3b11.7x14x1.1x
Tue, 29 Oct 2024Mex$8.8tMex$7.4tMex$602.2b12x14.6x1.2x
Thu, 26 Sep 2024Mex$9.2tMex$7.4tMex$589.9b12x15.6x1.3x
Sat, 24 Aug 2024Mex$9.2tMex$7.3tMex$587.5b11.7x15.6x1.2x
Mon, 22 Jul 2024Mex$9.2tMex$7.2tMex$555.2b13.4x16.5x1.3x
Wed, 19 Jun 2024Mex$8.9tMex$7.1tMex$576.3b12.3x15.4x1.2x
Fri, 17 May 2024Mex$9.6tMex$7.0tMex$568.4b13.9x17x1.4x
Sun, 14 Apr 2024Mex$9.5tMex$7.1tMex$578.9b13.4x16.3x1.3x
Tue, 12 Mar 2024Mex$9.4tMex$7.1tMex$585.3b13x16.1x1.3x
Thu, 08 Feb 2024Mex$9.8tMex$7.4tMex$631.0b13.8x15.5x1.3x
Sat, 06 Jan 2024Mex$9.6tMex$7.4tMex$655.8b13.2x14.7x1.3x
Mon, 04 Dec 2023Mex$9.3tMex$7.4tMex$657.5b12.4x14.2x1.3x
Wed, 01 Nov 2023Mex$8.7tMex$7.5tMex$667.3b11.6x13x1.2x
Fri, 29 Sep 2023Mex$9.0tMex$7.5tMex$661.6b13x13.6x1.2x
Sun, 27 Aug 2023Mex$9.2tMex$7.4tMex$653.5b12.7x14.1x1.2x
Tue, 25 Jul 2023Mex$9.4tMex$7.4tMex$652.2b12.9x14.3x1.3x
Thu, 22 Jun 2023Mex$9.3tMex$7.3tMex$638.6b13.2x14.6x1.3x
Sat, 20 May 2023Mex$9.3tMex$7.3tMex$640.6b13x14.5x1.3x
Price to Earnings Ratio

14.5x


Total Market Cap: Mex$9.3tTotal Earnings: Mex$640.6bTotal Revenue: Mex$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 15.1x202420252026
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 15.1x.
Past Earnings Growth
  • The earnings for Mexican listed companies have grown 3.3% per year over the last three years, while revenues have remained steady.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Sector Trends

Which sectors have driven the changes within the Mexican Market?

MX Market0.66%
Materials3.36%
Consumer Discretionary1.02%
Energy0.83%
Industrials0.52%
Telecom-0.11%
Healthcare-0.14%
Consumer Staples-0.33%
Financials-0.77%
Real Estate-1.01%
Utilities-1.48%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading close to its 3-year average PE ratio of 19.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 9.6% which is higher than its past year's earnings decline of 11.7% 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 18% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Utilities sector is expected to see its earnings decline by 26% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
GMEXICO B Grupo México. deMex$210.084.0%
+Mex$63.3b		102.2%PE16.8xMaterials
GAP B Grupo Aeroportuario del Pacífico. deMex$423.37-1.2%
Mex$35.3b		-0.3%PE25.2xIndustrials
PE&OLES * Industrias Peñoles. deMex$1.04k6.0%
+Mex$23.5b		163.2%PE13xMaterials
FEMSA UBD Fomento Económico Mexicano. deMex$214.491.8%
+Mex$12.7b		7.8%PE24.9xConsumer Staples
GCARSO A1 Grupo Carso. deMex$141.604.0%
+Mex$12.3b		11.3%PE42xIndustrials
See more

Market Insights

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Latest News

PE&OLES *
Mex$1,041.34
Industrias Peñoles. de
7D
6.0%
1Y
163.2%
ICH B
Mex$171.06
Industrias CH S. A. B. de C. V
7D
4.5%
1Y
-6.0%
WALMEX *
Mex$55.71
Wal-Mart de México. de
7D
-0.4%
1Y
-14.3%
Narrative Update • May 10

WALMEX *: Cautious Downgrades Will Still Support Resilient Margin Protection

Analysts have trimmed their MX$ price target on Wal-Mart de México by a small amount, citing slightly higher discount rate assumptions and modest tweaks to revenue growth, profit margin and future P/E inputs after a more cautious stance in recent research. Analyst Commentary Recent research reflects a more cautious stance on Wal-Mart de México, with a small trim to the MX$ price target and a downgrade in the stock rating.
GAP B
Mex$423.37
Grupo Aeroportuario del Pacífico. de
7D
-1.2%
1Y
-0.3%
BIMBO A
Mex$58.84
Grupo Bimbo. de
7D
-1.4%
1Y
1.6%
Analysis Article • May 08

Grupo Bimbo. de's (BMV:BIMBOA) Soft Earnings Don't Show The Whole Picture

Grupo Bimbo, S.A.B. de C.V.'s ( BMV:BIMBOA ) recent soft profit numbers didn't appear to worry shareholders, as the...
GMEXICO B
Mex$210.08
Grupo México. de
7D
4.0%
1Y
102.2%
Narrative Update • May 07

GMEXICO B: Upgraded Stance And Higher P/E Expectations Will Support Upside

Analysts lifted their MX$ price target for Grupo México by MX$1.42, reflecting updated views on fair value, discount rate assumptions, margin outlook, and future P/E, as reported in recent Street research updates. Analyst Commentary Recent Street research points to a more constructive tone around Grupo México, with bullish analysts highlighting updated views on valuation, earnings power, and the stock's P/E potential.
FEMSA UBD
Mex$214.49
Fomento Económico Mexicano. de
7D
1.8%
1Y
7.8%
FUNO 11
Mex$29.86
Fibra UNO
7D
-3.0%
1Y
21.7%
Narrative Update • May 04

FUNO 11: Higher Forward P E And Dividend Timeline May Support Repricing

Analysts lifted their MX$ price target on Fibra UNO by MX$3, citing updated assumptions for slightly higher revenue growth, a modestly higher discount rate, and a lower projected profit margin that together feed into a higher forward P/E multiple in their models. Analyst Commentary Recent research points to a more constructive stance on Fibra UNO, with the most recent price target revision framed around updated modeling rather than a change in underlying rating.
CEMEX CPO
Mex$22.72
CEMEX. de
7D
-2.9%
1Y
70.8%
Narrative Update • May 04

CEMEX CPO: Buyback And Margin Assumptions Will Likely Anchor Fair Future Returns

Analysts lifted their MX$ fair value estimate for CEMEX. de from MX$16.18 to MX$21.32, citing updated assumptions for the discount rate, revenue growth, profit margins, and a lower future P/E multiple.
Q *
Mex$165.18
Quálitas Controladora. de
7D
-5.1%
1Y
-25.2%
GCARSO A1
Mex$141.60
Grupo Carso. de
7D
4.0%
1Y
11.3%
GFNORTE O
Mex$192.10
Grupo Financiero Banorte. de
7D
-0.6%
1Y
12.7%
Narrative Update • Apr 29

GFNORTE O: Data Center Migration Will Support Higher Future Earnings Multiple

Analysts now set a slightly lower MX$220.87 price target for Grupo Financiero Banorte, de. The adjustments reflect updated views on revenue growth, profit margins and the stock's future P/E multiple.
AC *
Mex$215.36
Arca Continental. de
7D
-1.3%
1Y
4.0%
KIMBER A
Mex$38.78
Kimberly-Clark de México S. A. B. de C. V
7D
-3.0%
1Y
10.7%
EDUCA 18
Mex$59.01
Fideicomiso Irrevocable No. F/3277 en Banco Invex S. A. Institución de Banca Múltiple INVEX Grupo
7D
3.5%
1Y
11.3%
CMOCTEZ *
Mex$83.00
Corporación Moctezuma. de
7D
3.8%
1Y
-2.4%