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

Mexican (IPC) Market Analysis & Valuation

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies124
  • 7D2.4%
  • 3M3.0%
  • 1Y23.4%
  • YTD22.6%

The market has climbed 2.4% in the last 7 days, lead by the Materials sector with a gain of 5.3%. As for the past 12 months, the market is up 23%. As for the next few years, earnings are expected to grow by 12% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025Mex$10.2tMex$7.7tMex$662.3b13.6x15.5x1.3x
Tue, 25 Nov 2025Mex$10.0tMex$8.0tMex$661.2b12.5x15.1x1.3x
Thu, 23 Oct 2025Mex$9.9tMex$7.9tMex$648.3b11.4x15.3x1.3x
Sat, 20 Sep 2025Mex$9.7tMex$7.9tMex$614.3b12.1x15.8x1.2x
Mon, 18 Aug 2025Mex$9.4tMex$7.8tMex$618.4b12x15.1x1.2x
Wed, 16 Jul 2025Mex$9.2tMex$7.6tMex$602.9b12.1x15.2x1.2x
Fri, 13 Jun 2025Mex$9.2tMex$7.6tMex$589.9b12.6x15.6x1.2x
Sun, 11 May 2025Mex$9.2tMex$7.6tMex$604.1b12.3x15.2x1.2x
Tue, 08 Apr 2025Mex$8.3tMex$7.6tMex$609.7b10.5x13.6x1.1x
Thu, 06 Mar 2025Mex$8.6tMex$7.6tMex$598.3b10.7x14.4x1.1x
Sat, 01 Feb 2025Mex$8.7tMex$7.6tMex$615.9b11.6x14.2x1.2x
Mon, 30 Dec 2024Mex$8.5tMex$7.5tMex$611.0b11.6x13.9x1.1x
Wed, 27 Nov 2024Mex$8.4tMex$7.4tMex$604.1b11.5x14x1.1x
Fri, 25 Oct 2024Mex$8.9tMex$7.4tMex$598.5b11.4x14.8x1.2x
Sun, 22 Sep 2024Mex$9.0tMex$7.4tMex$588.6b11.8x15.3x1.2x
Tue, 20 Aug 2024Mex$9.2tMex$7.3tMex$585.4b11.7x15.8x1.3x
Thu, 18 Jul 2024Mex$9.3tMex$7.1tMex$583.2b13.6x15.9x1.3x
Sat, 15 Jun 2024Mex$8.9tMex$7.1tMex$576.8b12.5x15.4x1.2x
Mon, 13 May 2024Mex$9.7tMex$7.0tMex$568.8b14.4x17.1x1.4x
Wed, 10 Apr 2024Mex$9.6tMex$7.1tMex$579.8b13.5x16.6x1.4x
Fri, 08 Mar 2024Mex$9.4tMex$7.1tMex$585.4b13.4x16.1x1.3x
Sun, 04 Feb 2024Mex$9.9tMex$7.4tMex$657.0b13x15x1.3x
Tue, 02 Jan 2024Mex$9.9tMex$7.4tMex$656.4b13.5x15.1x1.3x
Thu, 30 Nov 2023Mex$9.1tMex$7.4tMex$658.2b12x13.8x1.2x
Sat, 28 Oct 2023Mex$8.7tMex$7.5tMex$653.9b12x13.4x1.2x
Mon, 25 Sep 2023Mex$9.1tMex$7.5tMex$659.5b12.9x13.7x1.2x
Wed, 23 Aug 2023Mex$9.2tMex$7.4tMex$654.0b12.7x14.1x1.2x
Fri, 21 Jul 2023Mex$9.2tMex$7.3tMex$648.5b12.8x14.2x1.3x
Sun, 18 Jun 2023Mex$9.4tMex$7.3tMex$638.0b13.4x14.8x1.3x
Tue, 16 May 2023Mex$9.6tMex$7.4tMex$666.7b13x14.4x1.3x
Thu, 13 Apr 2023Mex$9.6tMex$7.2tMex$656.2b12.5x14.6x1.3x
Sat, 11 Mar 2023Mex$9.4tMex$7.3tMex$661.6b12.1x14.1x1.3x
Mon, 06 Feb 2023Mex$9.5tMex$7.2tMex$674.4b11.7x14.2x1.3x
Wed, 04 Jan 2023Mex$8.9tMex$7.2tMex$662.6b11.9x13.4x1.2x
Price to Earnings Ratio

13.4x


Total Market Cap: Mex$8.9tTotal Earnings: Mex$662.6bTotal Revenue: Mex$7.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 14.9x20242025
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 14.9x.
Past Earnings Growth
  • The earnings for Mexican listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have grown 2.0% 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 Market2.37%
Materials5.32%
Telecom2.08%
Industrials1.73%
Financials1.62%
Consumer Staples1.39%
Energy1.14%
Real Estate1.12%
Utilities0.77%
Healthcare0.62%
Consumer Discretionary-0.10%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 15.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 11.6% which is higher than its past year's earnings decline of 8.1% 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 19% 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
GMEXICO B Grupo México. deMex$173.295.3%
+Mex$67.4b		75.8%PE17.3xMaterials
PE&OLES * Industrias Peñoles. deMex$979.3612.6%
+Mex$43.5b		259.8%PE23.8xMaterials
AMX B América Móvil. deMex$18.652.3%
+Mex$25.3b		26.2%PE16.6xTelecom
FEMSA UBD Fomento Económico Mexicano. deMex$184.502.8%
+Mex$17.0b		4.3%PE46xConsumer Staples
WALMEX * Wal-Mart de México. deMex$57.161.0%
+Mex$9.5b		3.9%PE19.6xConsumer Staples
See more

Market Insights

Header cover image
Three Sectors Expected to Rally in 2026 📈
With the backdrop of consistently strong broad market returns over the last few years, analysts are now looking at sector-specific plays that could outperform in 2026.
Continue reading
🤖 AI Companies Hit The Bond Market
Last Week

🤖 AI Companies Hit The Bond Market

Latest News

FEMSA UBD
Mex$184.50
Fomento Económico Mexicano. de
7D
2.8%
1Y
4.3%

FEMSA UBD Marginal Outlook Adjustments Will Support Steady Long-Term Earnings Profile

Analysts have modestly increased their price target on Fomento Económico Mexicano, de. They now see fair value at $188.00 per share, supported by slightly stronger revenue growth and profit margin assumptions alongside a marginally lower future P E multiple.
CUERVO *
Mex$20.91
Becle. de
7D
-1.4%
1Y
-10.7%

CUERVO * Higher Profit Margins Will Support Future Share Price Strength

Analysts have slightly reduced their price target on Becle, de. to about $27.80 per share.
AMX B
Mex$18.65
América Móvil. de
7D
2.3%
1Y
26.2%

América Móvil. de's (BMV:AMXB) Returns Have Hit A Wall

Dec 26
América Móvil. de's (BMV:AMXB) Returns Have Hit A Wall
LIVEPOL C-1
Mex$100.98
El Puerto de Liverpool. de
7D
-2.3%
1Y
1.6%

A Piece Of The Puzzle Missing From El Puerto de Liverpool, S.A.B. de C.V.'s (BMV:LIVEPOLC-1) Share Price

Dec 25
A Piece Of The Puzzle Missing From El Puerto de Liverpool, S.A.B. de C.V.'s (BMV:LIVEPOLC-1) Share Price
PE&OLES *
Mex$979.36
Industrias Peñoles. de
7D
12.6%
1Y
259.8%
VOLAR A
Mex$16.58
Controladora Vuela Compañía de Aviación. de
7D
-2.4%
1Y
7.1%
GFNORTE O
Mex$171.71
Grupo Financiero Banorte. de
7D
1.7%
1Y
27.5%

GFNORTE O Net Profitability And Remittance Expansion Will Support Future Upside

Analysts have nudged their price target on Grupo Financiero Banorte slightly lower, from MXN 199.75 to MXN 199.50, citing a more neutral stance following recent reassessments of the bank's risk and return profile. Analyst Commentary Recent research updates reflect a more balanced view on Grupo Financiero Banorte, with analysts recalibrating expectations for both upside potential and key execution risks.
GMEXICO B
Mex$173.29
Grupo México. de
7D
5.3%
1Y
75.8%

GMEXICO B Will Face Pressure From Project Delays Despite Higher Copper Prices

The analyst price target for Grupo México has been raised to approximately MXN 83 from about MXN 76, as analysts factor in higher long term copper and precious metal price assumptions, along with improved revenue growth expectations, despite a more conservative profit margin outlook. Analyst Commentary Recent Street research on Grupo México reflects a more balanced, and in some cases cautious, reassessment of the company’s risk reward profile.
ALPEK A
Mex$9.14
ALPEK. de
7D
-1.7%
1Y
-31.7%
GCARSO A1
Mex$119.54
Grupo Carso. de
7D
3.0%
1Y
5.6%
WALMEX *
Mex$57.16
Wal-Mart de México. de
7D
1.0%
1Y
3.9%

Wal-Mart de México. de (BMV:WALMEX) Is Aiming To Keep Up Its Impressive Returns

Dec 09
Wal-Mart de México. de (BMV:WALMEX) Is Aiming To Keep Up Its Impressive Returns
TERRA 13
Mex$39.50
FIBRA Terrafina
7D
-1.2%
1Y
11.4%
CIE B
Mex$40.00
Corporación Interamericana de Entretenimiento. de
7D
-7.0%
1Y
45.5%

Solid Earnings May Not Tell The Whole Story For Corporación Interamericana de Entretenimiento. de (BMV:CIEB)

Oct 28
Solid Earnings May Not Tell The Whole Story For Corporación Interamericana de Entretenimiento. de (BMV:CIEB)
GFINBUR O
Mex$44.16
Grupo Financiero Inbursa. de
7D
2.9%
1Y
2.5%
BOLSA A
Mex$38.50
Bolsa Mexicana de Valores. de
7D
-3.9%
1Y
17.5%