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Mexican (IPC) Market Analysis & Valuation

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies120
  • 7D-3.2%
  • 3M-0.4%
  • 1Y12.9%
  • YTD4.5%

Over the last 7 days, the market has dropped 3.2%, driven by a pullback of 6.6% in the Materials sector. As for the longer term, the market has actually risen by 13% in the last year. As for the next few years, earnings are expected to grow by 8.8% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Jun 2026Mex$10.1tMex$7.6tMex$700.4b12.2x14.5x1.3x
Tue, 05 May 2026Mex$10.4tMex$7.6tMex$701.4b13.5x14.8x1.4x
Thu, 02 Apr 2026Mex$10.8tMex$7.7tMex$672.2b13.5x16x1.4x
Sat, 28 Feb 2026Mex$10.9tMex$7.8tMex$669.0b13.2x16.3x1.4x
Mon, 26 Jan 2026Mex$10.4tMex$7.6tMex$649.1b13.3x16x1.4x
Wed, 24 Dec 2025Mex$10.3tMex$7.8tMex$657.6b13.2x15.7x1.3x
Fri, 21 Nov 2025Mex$10.0tMex$8.0tMex$660.4b11.9x15.2x1.3x
Sun, 19 Oct 2025Mex$10.0tMex$7.9tMex$639.6b11.8x15.6x1.3x
Tue, 16 Sep 2025Mex$9.8tMex$7.8tMex$614.7b12.1x15.9x1.3x
Thu, 14 Aug 2025Mex$9.4tMex$7.8tMex$617.8b12x15.2x1.2x
Sat, 12 Jul 2025Mex$9.2tMex$7.6tMex$599.9b12.2x15.3x1.2x
Mon, 09 Jun 2025Mex$9.3tMex$7.6tMex$590.2b12.5x15.7x1.2x
Wed, 07 May 2025Mex$9.3tMex$7.6tMex$605.2b11.4x15.4x1.2x
Fri, 04 Apr 2025Mex$8.8tMex$7.5tMex$606.5b10.7x14.5x1.2x
Sun, 02 Mar 2025Mex$8.6tMex$7.6tMex$596.7b11.6x14.4x1.1x
Tue, 28 Jan 2025Mex$8.7tMex$7.6tMex$613.7b11.6x14.2x1.1x
Thu, 26 Dec 2024Mex$8.5tMex$7.5tMex$610.5b11.7x13.9x1.1x
Sat, 23 Nov 2024Mex$8.5tMex$7.4tMex$603.0b11.7x14x1.1x
Mon, 21 Oct 2024Mex$9.2tMex$7.4tMex$594.4b12.3x15.5x1.2x
Wed, 18 Sep 2024Mex$9.0tMex$7.3tMex$587.1b12x15.4x1.2x
Fri, 16 Aug 2024Mex$9.2tMex$7.3tMex$585.1b11.8x15.7x1.3x
Sun, 14 Jul 2024Mex$9.4tMex$7.1tMex$582.6b13.6x16.1x1.3x
Tue, 11 Jun 2024Mex$9.0tMex$7.1tMex$576.2b12.8x15.6x1.3x
Thu, 09 May 2024Mex$9.5tMex$7.1tMex$568.1b13x16.7x1.3x
Sat, 06 Apr 2024Mex$9.6tMex$7.1tMex$580.1b13.7x16.5x1.4x
Mon, 04 Mar 2024Mex$9.5tMex$7.1tMex$584.1b13.7x16.3x1.3x
Wed, 31 Jan 2024Mex$9.8tMex$7.4tMex$662.0b13.2x14.8x1.3x
Fri, 29 Dec 2023Mex$9.9tMex$7.4tMex$656.4b13.4x15.1x1.3x
Sun, 26 Nov 2023Mex$9.2tMex$7.4tMex$657.1b11.9x14x1.2x
Tue, 24 Oct 2023Mex$8.6tMex$7.5tMex$659.5b11.9x13.1x1.1x
Thu, 21 Sep 2023Mex$9.1tMex$7.4tMex$659.1b12.8x13.8x1.2x
Sat, 19 Aug 2023Mex$9.2tMex$7.4tMex$654.5b12.8x14.1x1.2x
Mon, 17 Jul 2023Mex$9.3tMex$7.3tMex$645.3b13.1x14.3x1.3x
Wed, 14 Jun 2023Mex$9.3tMex$7.3tMex$637.8b13.5x14.5x1.3x
Price to Earnings Ratio

14.5x


Total Market Cap: Mex$9.3tTotal Earnings: Mex$637.8bTotal 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 3.2% 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-3.18%
Energy1.46%
Utilities-0.74%
Telecom-1.19%
Financials-1.60%
Consumer Discretionary-1.68%
Consumer Staples-1.89%
Real Estate-3.13%
Industrials-3.63%
Healthcare-6.33%
Materials-6.56%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading close to its 3-year average PE ratio of 19.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.1% 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 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
FEMSA UBD Fomento Económico Mexicano. deMex$214.804.0%
+Mex$27.8b		5.2%PE24.9xConsumer Staples
VISTA A Vista Energy. deMex$1.31k1.8%
+Mex$2.4b		36.6%PE10.6xEnergy
SITES1 A-1 Operadora de Sites Mexicanos. deMex$17.202.9%
+Mex$1.4b		-9.0%PE65.9xTelecom
FNOVA 17 Fibra NovaMex$45.002.7%
+Mex$712.6m		68.4%PB1.5xReal Estate
MEGA CPO Megacable Holdings S. A. B. de C. VMex$59.451.3%
+Mex$643.5m		9.2%PE17.2xTelecom
See more

Market Insights

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Latest News

AMX B
Mex$21.67
América Móvil. de
7D
-1.4%
1Y
33.8%
Narrative Update • Jun 06

AMX B: Future Returns Will Depend On Dividend Policy And Share Repurchases

Analysts have slightly reduced their MX$ fair value estimate for América Móvil to MX$24.34, citing updated assumptions for revenue growth, profit margin, and future P/E that result in a modest adjustment to price target expectations. What's in the News América Móvil, S.A.B. de C.V. plans to hold an Analyst/Investor Day, giving management an opportunity to update the market on business priorities and capital allocation plans.
INVEX A
Mex$99.00
INVEX Controladora. de
7D
2.1%
1Y
13.8%
PE&OLES *
Mex$842.99
Industrias Peñoles. de
7D
-16.4%
1Y
71.7%
CEMEX CPO
Mex$21.77
CEMEX. de
7D
-4.6%
1Y
68.6%
Narrative Update • Jun 05

CEMEX CPO: Higher Margin And P/E Assumptions Will Shape Fair Future Returns

Analysts have lifted their MX$ price target for CEMEX de, with fair value moving from MX$21.32 to MX$22.93. This change reflects updated assumptions around slightly higher projected revenue growth, improved profit margins and a higher future P/E multiple.
AC *
Mex$215.61
Arca Continental. de
7D
-4.2%
1Y
6.0%
Narrative Update • Jun 05

AC *: Fair Value View Will Balance Upgrades With A New Neutral Shift

Narrative Update The updated analyst price target for Arca Continental edges up by about MX$2, with analysts citing recent target increases from some firms and a more constructive stance from others, partly offset by at least one downgrade to Neutral with a lower MX$217 target. Analyst Commentary Recent research updates on Arca Continental show a mix of more optimistic and more cautious views, with shifts in price targets and one rating change to Neutral.
WALMEX *
Mex$51.09
Wal-Mart de México. de
7D
-2.5%
1Y
-19.9%
Narrative Update • Jun 04

WALMEX *: Softer Assumptions Will Still Support Attractive Forward P/E Upside

Analysts have trimmed their MX$ fair value estimate for Wal-Mart de México by about MX$0.50 per share to roughly MX$64.82, citing slightly softer assumptions for revenue growth, profit margins and future P/E multiples following a more cautious stance in recent research. What's in the News Recent analyst research has adopted a more cautious stance on Wal-Mart de México, with softer assumptions for revenue, margins and future P/E.
BOLSA A
Mex$37.25
Bolsa Mexicana de Valores. de
7D
1.4%
1Y
-11.8%
FEMSA UBD
Mex$214.80
Fomento Económico Mexicano. de
7D
4.0%
1Y
5.2%
Narrative Update • Jun 02

FEMSA UBD: Dividend And Buyback Actions Will Support Future Upside

Analysts have modestly lifted their price target on Fomento Económico Mexicano, de to MX$287.25 from MX$286.68, reflecting updated assumptions that include a slightly higher discount rate, adjusted revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News Shareholders approved an ordinary cash dividend at the March 27, 2026 Annual Ordinary and Extraordinary Meeting, with payments per share structured by series and scheduled in four installments starting April 23, 2026.
BIMBO A
Mex$55.85
Grupo Bimbo. de
7D
-6.4%
1Y
7.1%
Narrative Update • May 27

BIMBO A: Elevated MX$75 P/E Will Likely Expose Margin Execution Risk

Analysts kept the fair value estimate for Grupo Bimbo at MX$51.00, citing slightly higher revenue growth, profit margin and future P/E assumptions that align with recent price target increases, such as the move to MX$75 at Barclays and a more positive stance from BTG Pactual. Analyst Commentary Recent research commentary on Grupo Bimbo highlights a mix of constructive and cautious views.
SITES1 A-1
Mex$17.20
Operadora de Sites Mexicanos. de
7D
2.9%
1Y
-9.0%
GMEXICO B
Mex$203.61
Grupo México. de
7D
-5.4%
1Y
88.1%
Narrative Update • May 25

GMEXICO B: Recent Upgrade And Margin Outlook Will Support Future Upside

Analysts have nudged their MX$ price target for Grupo México slightly lower to MX$235.53, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E after recent research updates from major banks. Analyst Commentary Recent research has leaned constructive on Grupo México, with bullish analysts updating their models and signalling a more supportive stance on the stock after fresh reviews of valuation and earnings power.
VISTA A
Mex$1,311.39
Vista Energy. de
7D
1.8%
1Y
36.6%
GCARSO A1
Mex$129.79
Grupo Carso. de
7D
-5.6%
1Y
2.0%
Narrative Update • May 18

GCARSO A1: Higher Growth Assumptions Will Sustain Overvaluation Risk Ahead

Analysts have reiterated a price target of MX$115.00 for Grupo Carso, with the latest update reflecting adjusted assumptions for revenue growth, profit margins, discount rate, and future P/E that leave the headline target unchanged while fine tuning the underlying valuation drivers. Valuation Changes Fair Value: MX$115.00 remains unchanged, with the revised model still pointing to MX$115.0. Discount Rate: fallen slightly from 15.02% to 14.84%, reflecting a modest adjustment to the required return used in the model.
MEGA CPO
Mex$59.45
Megacable Holdings S. A. B. de C. V
7D
1.3%
1Y
9.2%
FNOVA 17
Mex$45.00
Fibra Nova
7D
2.7%
1Y
68.4%
GBM O
Mex$16.69
Corporativo GBM. de
7D
1.8%
1Y
28.4%