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Mexican (IPC) Market Analysis & Valuation

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies121
  • 7D-0.3%
  • 3M9.2%
  • 1Y28.7%
  • YTD9.0%

The Energy sector gained 5.6% while the market remained flat over the last week. As for the longer term, the market has risen 29% in the past 12 months. 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
Thu, 05 Mar 2026Mex$10.6tMex$7.6tMex$660.0b13.4x16x1.4x
Sat, 31 Jan 2026Mex$10.6tMex$7.6tMex$656.0b13.9x16.1x1.4x
Mon, 29 Dec 2025Mex$10.2tMex$7.7tMex$662.3b13.6x15.5x1.3x
Wed, 26 Nov 2025Mex$10.2tMex$8.0tMex$660.3b12.6x15.4x1.3x
Fri, 24 Oct 2025Mex$10.0tMex$7.9tMex$648.2b11.9x15.4x1.3x
Sun, 21 Sep 2025Mex$9.7tMex$7.9tMex$614.3b12.1x15.8x1.2x
Tue, 19 Aug 2025Mex$9.3tMex$7.8tMex$618.7b11.9x15.1x1.2x
Thu, 17 Jul 2025Mex$9.2tMex$7.6tMex$603.3b12.2x15.2x1.2x
Sat, 14 Jun 2025Mex$9.2tMex$7.6tMex$591.6b12x15.5x1.2x
Mon, 12 May 2025Mex$9.2tMex$7.6tMex$601.6b12.3x15.3x1.2x
Wed, 09 Apr 2025Mex$8.2tMex$7.6tMex$610.4b10.5x13.5x1.1x
Fri, 07 Mar 2025Mex$8.6tMex$7.5tMex$599.0b10.6x14.4x1.1x
Sun, 02 Feb 2025Mex$8.6tMex$7.6tMex$615.4b11.6x14x1.1x
Tue, 31 Dec 2024Mex$8.5tMex$7.6tMex$613.5b11.6x13.9x1.1x
Thu, 28 Nov 2024Mex$8.4tMex$7.4tMex$603.8b11.6x13.9x1.1x
Sat, 26 Oct 2024Mex$8.8tMex$7.4tMex$600.0b11.4x14.7x1.2x
Mon, 23 Sep 2024Mex$9.0tMex$7.4tMex$588.6b11.8x15.3x1.2x
Wed, 21 Aug 2024Mex$9.2tMex$7.3tMex$587.1b11.9x15.8x1.3x
Fri, 19 Jul 2024Mex$9.2tMex$7.1tMex$557.4b13.6x16.5x1.3x
Sun, 16 Jun 2024Mex$8.8tMex$7.1tMex$576.8b12.5x15.3x1.2x
Tue, 14 May 2024Mex$9.7tMex$7.0tMex$569.1b14.1x17x1.4x
Thu, 11 Apr 2024Mex$9.6tMex$7.0tMex$577.3b13.7x16.6x1.4x
Sat, 09 Mar 2024Mex$9.4tMex$7.1tMex$586.0b13x16.1x1.3x
Mon, 05 Feb 2024Mex$9.9tMex$7.4tMex$657.1b13x15x1.3x
Wed, 03 Jan 2024Mex$9.9tMex$7.4tMex$656.6b13.6x15x1.3x
Fri, 01 Dec 2023Mex$9.2tMex$7.4tMex$658.4b12.3x13.9x1.2x
Sun, 29 Oct 2023Mex$8.7tMex$7.5tMex$653.9b12.4x13.4x1.2x
Tue, 26 Sep 2023Mex$9.1tMex$7.5tMex$660.8b12.9x13.7x1.2x
Thu, 24 Aug 2023Mex$9.2tMex$7.4tMex$653.7b12.7x14.1x1.2x
Sat, 22 Jul 2023Mex$9.2tMex$7.3tMex$651.7b12.6x14.1x1.3x
Mon, 19 Jun 2023Mex$9.4tMex$7.3tMex$638.0b13.3x14.7x1.3x
Wed, 17 May 2023Mex$9.6tMex$7.4tMex$665.6b13.1x14.4x1.3x
Fri, 14 Apr 2023Mex$9.6tMex$7.2tMex$655.7b12.6x14.7x1.3x
Sun, 12 Mar 2023Mex$9.4tMex$7.3tMex$661.7b12.1x14.1x1.3x
Price to Earnings Ratio

14.1x


Total Market Cap: Mex$9.4tTotal Earnings: Mex$661.7bTotal Revenue: Mex$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 15x202420252026
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 15.0x.
Past Earnings Growth
  • Both revenue and earnings for Mexican listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the Mexican Market?

MX Market-0.28%
Energy5.57%
Consumer Discretionary1.88%
Telecom1.19%
Consumer Staples0.94%
Utilities-0.44%
Real Estate-0.49%
Healthcare-0.69%
Financials-0.80%
Industrials-1.86%
Materials-1.94%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 19.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 18.6%, which is higher than its past year's earnings growth of 12.4% 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 Industrials sector, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • 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
AMX B América Móvil. deMex$22.051.8%
+Mex$24.0b		51.8%PE16xTelecom
FEMSA UBD Fomento Económico Mexicano. deMex$196.541.8%
+Mex$12.0b		1.3%PE38.2xConsumer Staples
BIMBO A Grupo Bimbo. deMex$64.512.8%
+Mex$7.5b		13.9%PE24.9xConsumer Staples
VISTA A Vista Energy. deMex$1.04k6.8%
+Mex$6.9b		12.1%PE8.6xEnergy
LIVEPOL C-1 El Puerto de Liverpool. deMex$110.954.1%
+Mex$5.9b		11.3%PE8.7xConsumer Discretionary
See more

Market Insights

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Latest News

ASUR B
Mex$609.30
Grupo Aeroportuario del Sureste S. A. B. de C. V
7D
-3.4%
1Y
11.4%
BIMBO A
Mex$64.51
Grupo Bimbo. de
7D
2.8%
1Y
13.9%
FEMSA UBD
Mex$196.54
Fomento Económico Mexicano. de
7D
1.8%
1Y
1.3%
CUERVO *
Mex$17.08
Becle. de
7D
-7.7%
1Y
-7.8%
VISTA A
Mex$1,043.47
Vista Energy. de
7D
6.8%
1Y
12.1%
CEMEX CPO
Mex$21.05
CEMEX. de
7D
-4.0%
1Y
65.7%
GAP B
Mex$439.49
Grupo Aeroportuario del Pacífico. de
7D
-4.3%
1Y
14.8%

GAP B: Weather-Driven Traffic Shifts Will Shape Balanced Forward Outlook

Analysts have nudged their price target on Grupo Aeroportuario del Pacífico up by MX$4.00 to MX$488.87, reflecting updated views on revenue growth, profit margins, and a slightly adjusted discount rate and forward P/E assumptions. What's in the News Preliminary January 2026 figures show total terminal passengers of 5,521,700 compared with 5,646,100 a year earlier, with load factors moving from 83.9% to 79.7% as available seats increased 3.0% (company operating results).
AMX B
Mex$22.05
América Móvil. de
7D
1.8%
1Y
51.8%

AMX B: Future Upside Will Depend On Stable Earnings Margin And P/E Support

Analysts now set their average price target for América Móvil at roughly MX$22.08, up from about MX$21.73. This reflects updated assumptions for slightly higher revenue growth, improved profit margins and a modestly lower future P/E multiple.
OMA B
Mex$255.01
Grupo Aeroportuario del Centro Norte. de
7D
-5.9%
1Y
30.8%

OMA B: Fair Value View Will Test Traffic Trends And P/E Expectations

Analysts have nudged their price target on Grupo Aeroportuario del Centro Norte higher, adding MX$8 to reflect slightly higher fair value estimates and modestly stronger assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts are comfortable lifting fair value estimates, which supports a higher price target and suggests they see room for the shares to better reflect their updated assumptions.
LIVEPOL C-1
Mex$110.95
El Puerto de Liverpool. de
7D
4.1%
1Y
11.3%
AC *
Mex$206.67
Arca Continental. de
7D
0.8%
1Y
-3.5%
SORIANA B
Mex$36.35
Organización Soriana S. A. B. de C. V
7D
5.2%
1Y
31.7%
WALMEX *
Mex$56.76
Wal-Mart de México. de
7D
0.3%
1Y
2.4%
GMEXICO B
Mex$212.96
Grupo México. de
7D
-0.5%
1Y
108.5%

GMEXICO B: Higher Margins Will Offset JPMorgan Downgrade Concerns

Analysts have adjusted their price target on Grupo México S.A.B. de C.V. to MX$234.88 from MX$225.33, reflecting updated assumptions around discount rates, revenue growth, profit margins and forward P/E multiples discussed in recent research. Analyst Commentary Bullish analysts point to the updated MX$234.88 price target as a signal of confidence in Grupo México S.A.B. de C.V.'s ability to support current valuation assumptions around discount rates, revenue, margins and P/E multiples, even in the context of a recent downgrade at JPMorgan.
MFRISCO A-1
Mex$12.72
Minera Frisco. de
7D
-6.5%
1Y
296.3%
PE&OLES *
Mex$1,000.61
Industrias Peñoles. de
7D
-4.9%
1Y
200.6%

Returns On Capital Are A Standout For Industrias Peñoles. de (BMV:PE&OLES)

Feb 12
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