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Mexican (IPC) Market Analysis & Valuation

UpdatedJul 11, 2026
DataAggregated Company Financials
Companies120
  • 7D-0.5%
  • 3M-5.0%
  • 1Y15.4%
  • YTD4.6%

In the last week, the market has been flat, with a notable exception in the Industrials sector dropping 3.2%. Meanwhile, the market is actually up 15% over the past year. Looking forward, earnings are forecast to grow by 9.3% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Jul 2026Mex$10.2tMex$7.7tMex$705.3b12.2x14.4x1.3x
Mon, 08 Jun 2026Mex$10.1tMex$7.6tMex$700.4b12.2x14.5x1.3x
Wed, 06 May 2026Mex$10.5tMex$7.6tMex$695.5b13.6x15.1x1.4x
Fri, 03 Apr 2026Mex$10.8tMex$7.7tMex$682.4b13.8x15.8x1.4x
Sun, 01 Mar 2026Mex$10.9tMex$7.8tMex$669.0b13.2x16.4x1.4x
Tue, 27 Jan 2026Mex$10.4tMex$7.6tMex$648.8b13.1x16x1.4x
Thu, 25 Dec 2025Mex$10.3tMex$7.8tMex$657.8b13.1x15.7x1.3x
Sat, 22 Nov 2025Mex$9.9tMex$8.0tMex$661.1b12.4x15x1.2x
Mon, 20 Oct 2025Mex$10.0tMex$7.9tMex$639.7b11.8x15.6x1.3x
Wed, 17 Sep 2025Mex$9.8tMex$7.9tMex$613.6b12.1x16x1.2x
Fri, 15 Aug 2025Mex$9.3tMex$7.8tMex$618.9b12x15.1x1.2x
Sun, 13 Jul 2025Mex$9.2tMex$7.6tMex$601.8b12.1x15.3x1.2x
Tue, 10 Jun 2025Mex$9.2tMex$7.6tMex$590.4b12.5x15.6x1.2x
Thu, 08 May 2025Mex$9.4tMex$7.6tMex$604.9b11.5x15.5x1.2x
Sat, 05 Apr 2025Mex$8.5tMex$7.6tMex$609.9b10.5x13.9x1.1x
Mon, 03 Mar 2025Mex$8.6tMex$7.6tMex$596.7b11.2x14.4x1.1x
Wed, 29 Jan 2025Mex$8.7tMex$7.6tMex$614.1b11.6x14.2x1.2x
Fri, 27 Dec 2024Mex$8.5tMex$7.5tMex$610.9b11.7x13.9x1.1x
Sun, 24 Nov 2024Mex$8.5tMex$7.4tMex$603.0b11.7x14.1x1.1x
Tue, 22 Oct 2024Mex$9.2tMex$7.4tMex$594.9b12.2x15.4x1.2x
Thu, 19 Sep 2024Mex$9.1tMex$7.4tMex$588.0b11.9x15.4x1.2x
Sat, 17 Aug 2024Mex$9.3tMex$7.3tMex$585.1b11.7x15.8x1.3x
Mon, 15 Jul 2024Mex$9.4tMex$7.1tMex$582.6b13.6x16.1x1.3x
Wed, 12 Jun 2024Mex$9.0tMex$7.1tMex$577.2b12.6x15.6x1.3x
Fri, 10 May 2024Mex$9.5tMex$7.0tMex$567.8b13x16.7x1.3x
Sun, 07 Apr 2024Mex$9.6tMex$7.1tMex$580.1b13.7x16.6x1.4x
Tue, 05 Mar 2024Mex$9.5tMex$7.1tMex$585.1b13.8x16.2x1.3x
Thu, 01 Feb 2024Mex$9.8tMex$7.4tMex$656.8b13.2x15x1.3x
Sat, 30 Dec 2023Mex$9.9tMex$7.4tMex$656.4b13.5x15.1x1.3x
Mon, 27 Nov 2023Mex$9.2tMex$7.4tMex$657.1b11.9x14x1.2x
Wed, 25 Oct 2023Mex$8.6tMex$7.5tMex$655.5b12.3x13.1x1.2x
Fri, 22 Sep 2023Mex$9.2tMex$7.5tMex$659.9b12.8x13.9x1.2x
Sun, 20 Aug 2023Mex$9.2tMex$7.4tMex$654.5b12.9x14.1x1.2x
Tue, 18 Jul 2023Mex$9.3tMex$7.3tMex$645.9b13x14.3x1.3x
Price to Earnings Ratio

14.3x


Total Market Cap: Mex$9.3tTotal Earnings: Mex$645.9bTotal 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 3.0% 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 Market-0.47%
Energy1.60%
Materials0.49%
Telecom0.48%
Real Estate-0.059%
Financials-0.09%
Utilities-0.46%
Consumer Discretionary-1.03%
Healthcare-1.14%
Consumer Staples-1.24%
Industrials-3.18%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading close to its 3-year average PE ratio of 19.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.6% which is higher than its past year's earnings decline of 13.5% 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.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 44% 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
AMX B América Móvil. deMex$22.730.8%
+Mex$11.4b		38.9%PE15.6xTelecom
PE&OLES * Industrias Peñoles. deMex$789.562.3%
+Mex$7.2b		53.6%PE9.7xMaterials
CEMEX CPO CEMEX. deMex$21.862.0%
+Mex$6.2b		59.2%PE36.1xMaterials
MFRISCO A-1 Minera Frisco. deMex$13.826.2%
+Mex$4.9b		273.5%PE28.4xMaterials
GENTERA * Gentera. deMex$40.544.8%
+Mex$2.9b		-2.9%PE7.5xFinancials
See more

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Latest News

ASUR B
Mex$499.07
Grupo Aeroportuario del Sureste S. A. B. de C. V
7D
-6.2%
1Y
-13.1%
VISTA A
Mex$1,118.47
Vista Energy. de
7D
1.7%
1Y
29.3%
Narrative Update • Jul 10

VISTA A: New Block Interests Will Shape Future Earnings Power

Vista Energy's updated analyst price target has moved from MX$955.29 to MX$1,357.94 as analysts factor in revised fair value estimates, slightly adjusted discount rates and expectations for future P/E, along with recent coverage initiations and higher MX$ price targets following the incorporation of new asset interests into their models. Analyst Commentary Recent Street research on Vista Energy highlights a mix of optimism around asset additions and price targets, alongside a layer of caution that readers should weigh when thinking about valuation and execution risks.
AC *
Mex$198.23
Arca Continental. de
7D
-4.2%
1Y
5.9%
GENTERA *
Mex$40.54
Gentera. de
7D
4.8%
1Y
-2.9%
Narrative Update • Jul 08

GENTERA *: Higher P/E Expectations Will Support Upcoming Extraordinary Shareholder Meeting

The Gentera analyst price target has been revised from MX$38.18 to MX$45.00. Analysts attribute the higher valuation to updated assumptions on revenue growth, profit margin, discount rate, and future P/E.
AMX B
Mex$22.73
América Móvil. de
7D
0.8%
1Y
38.9%
Narrative Update • Jul 08

AMX B: Higher Discount Rate And Dividend Plan Will Pressure Shares

Analysts have slightly lifted their América Móvil price target to MX$18.40 from MX$18.00, pointing to updated assumptions around discount rates, profit margins and future P/E that keep their overall valuation view broadly unchanged. What's in the News for América Móvil América Móvil, S.A.B. de C.V. scheduled an Analyst and Investor Day, giving the market a set date to hear updated views from management on the business and capital allocation plans.
FEMSA UBD
Mex$223.31
Fomento Económico Mexicano. de
7D
-0.6%
1Y
18.6%
CEMEX CPO
Mex$21.86
CEMEX. de
7D
2.0%
1Y
59.2%
Narrative Update • Jul 07

CEMEX CPO: Higher Expected Margins Will Support Future Earnings Multiple

The analyst price target for CEMEX de has been revised from MX$25.09 to MX$26.17. This change reflects updated assumptions for revenue growth, profit margins, discount rate and future P/E that analysts now consider more appropriate for the stock.
MFRISCO A-1
Mex$13.82
Minera Frisco. de
7D
6.2%
1Y
273.5%
GAP B
Mex$412.47
Grupo Aeroportuario del Pacífico. de
7D
-5.7%
1Y
-3.9%
FIBRAPL 14
Mex$77.35
FIBRA Prologis
7D
1.1%
1Y
15.1%
Narrative Update • Jun 24

FIBRAPL 14: Updated Assumptions And Portfolio Mix Will Shape Future Returns

Analysts have raised their 12 month price target for FIBRA Prologis by MX$0.16 to MX$84.57, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E that align with the latest Street research. What’s in the News for FIBRA Prologis FIBRA Prologis acquired a building from Prologis in the Toluca submarket of Greater Mexico City for an aggregate purchase price of US$94 million, including closing costs.
CIE B
Mex$32.50
Corporación Interamericana de Entretenimiento. de
7D
-18.8%
1Y
-11.0%
WALMEX *
Mex$49.32
Wal-Mart de México. de
7D
-1.6%
1Y
-15.7%
Narrative Update • Jun 19

WALMEX *: Slightly Higher Risk Assumptions Will Still Support Forward P/E Upside

Analysts have trimmed their price target for Wal-Mart de México stock to MX$64.82, reflecting slightly higher discount-rate assumptions and only marginal tweaks to revenue growth, profit margin, and future P/E expectations, along with a more cautious tone in recent Street research. What's in the News for Wal-Mart de México Stock Recent analyst updates cite slightly higher discount-rate assumptions for Wal-Mart de México and only limited adjustments to revenue, margin, and future P/E expectations.
OMA B
Mex$236.48
Grupo Aeroportuario del Centro Norte. de
7D
-3.5%
1Y
-10.2%
Q *
Mex$172.67
Quálitas Controladora. de
7D
-3.5%
1Y
-10.9%
SORIANA B
Mex$30.60
Organización Soriana S. A. B. de C. V
7D
2.3%
1Y
20.8%
Narrative Update • Jun 12

SORIANA B: Fair MX$30 Outlook Will Reflect Stable Margins And Assumptions

Analysts have kept their MX$30.00 price target for Organización Soriana S. A.
PE&OLES *
Mex$789.56
Industrias Peñoles. de
7D
2.3%
1Y
53.6%