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Mexican (IPC) Market Analysis & Valuation

UpdatedJul 14, 2026
DataAggregated Company Financials
Companies120
  • 7D-1.0%
  • 3M-5.0%
  • 1Y15.1%
  • YTD4.0%

Over the last 7 days, the market has dropped 1.0%, driven by declines in the Industrials and Consumer Staples sectors of 3.9% and 1.4%, respectively. As for the longer term, the market has actually risen by 15% in the last year. As for the next few years, earnings are expected to grow by 9.3% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Jul 2026Mex$10.1tMex$7.7tMex$705.7b12.1x14.3x1.3x
Fri, 12 Jun 2026Mex$10.3tMex$7.7tMex$699.8b12.3x14.8x1.4x
Sun, 10 May 2026Mex$10.8tMex$7.6tMex$707.7b12.3x15.2x1.4x
Tue, 07 Apr 2026Mex$10.7tMex$7.7tMex$681.4b13.7x15.7x1.4x
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
Price to Earnings Ratio

14.1x


Total Market Cap: Mex$9.2tTotal Earnings: Mex$651.7bTotal 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 2.9% 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-1.00%
Energy5.08%
Materials0.53%
Consumer Discretionary-0.37%
Healthcare-0.59%
Utilities-0.64%
Telecom-0.78%
Consumer Staples-1.38%
Real Estate-1.39%
Financials-1.86%
Industrials-3.87%
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 10.5% 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
GMEXICO B Grupo México. deMex$199.822.9%
+Mex$43.5b		75.9%PE15.8xMaterials
FEMSA UBD Fomento Económico Mexicano. deMex$232.502.6%
+Mex$19.8b		25.3%PE27xConsumer Staples
CEMEX CPO CEMEX. deMex$22.244.9%
+Mex$14.9b		62.2%PE36.8xMaterials
VISTA A Vista Energy. deMex$1.14k4.2%
+Mex$4.9b		32.7%PE9.2xEnergy
PE&OLES * Industrias Peñoles. deMex$782.221.4%
+Mex$4.3b		55.5%PE9.6xMaterials
See more

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Latest News

SORIANA B
Mex$30.00
Organización Soriana S. A. B. de C. V
7D
1.4%
1Y
18.8%
ASUR B
Mex$481.43
Grupo Aeroportuario del Sureste S. A. B. de C. V
7D
-4.7%
1Y
-16.1%
VISTA A
Mex$1,140.00
Vista Energy. de
7D
4.2%
1Y
32.7%
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$197.40
Arca Continental. de
7D
-5.2%
1Y
3.4%
AMX B
Mex$22.85
América Móvil. de
7D
-0.5%
1Y
40.1%
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$232.50
Fomento Económico Mexicano. de
7D
2.6%
1Y
25.3%
CEMEX CPO
Mex$22.24
CEMEX. de
7D
4.9%
1Y
62.2%
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.
GMEXICO B
Mex$199.82
Grupo México. de
7D
2.9%
1Y
75.9%
Narrative Update • Jul 07

GMEXICO B: Recent Upgrade And Higher P/E Assumptions May Support Future Upside

Grupo México's updated analyst price target has moved to MX$284.97 from MX$235.53. This shift reflects analysts' refreshed views following recent target increases from several firms that cited revised assumptions for growth, profitability and future P/E levels.
ORBIA *
Mex$23.06
Orbia Advance Corporation. de
7D
3.0%
1Y
75.6%
Narrative Update • Jul 02

ORBIA *: Higher MXN 12 Price View Will Support Future Re Rating

Analysts have raised their price target for Orbia Advance Corporation. de by MX$12, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that together support a higher valuation range.
LIVEPOL C-1
Mex$100.66
El Puerto de Liverpool. de
7D
0.9%
1Y
3.1%
Narrative Update • Jun 26

LIVEPOL C-1: Fair Stance Will Weigh April 2026 Extraordinary Meeting Outcomes

Analysts have lifted their fair value estimate for El Puerto de Liverpool from MX$95.00 to MX$100.00, citing updated assumptions around discount rates, revenue growth, margins, and future P/E multiples, despite a recent downgrade to Underperform in Street research. What's in the News for El Puerto de Liverpool El Puerto de Liverpool, S.A.B. de C.V. has scheduled a Special or Extraordinary Shareholders Meeting for April 14, 2026, according to company event disclosures.
GAP B
Mex$395.00
Grupo Aeroportuario del Pacífico. de
7D
-4.9%
1Y
-8.3%
GFNORTE O
Mex$186.26
Grupo Financiero Banorte. de
7D
-1.0%
1Y
14.1%
Narrative Update • Jun 25

GFNORTE O: Steady Forecast Assumptions Will Support Higher Future Earnings Multiple

Analysts have kept their MX$220.87 price target for Grupo Financiero Banorte, S.A.B. de C.V. unchanged, indicating relatively steady assumptions around discount rate, revenue growth, profit margin and future P/E in their latest update. What's in the News No recent public news items for Grupo Financiero Banorte, S.A.B. de C.V. were provided in the available sources.
FIBRAPL 14
Mex$77.37
FIBRA Prologis
7D
-2.2%
1Y
13.9%
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.
GCARSO A1
Mex$126.66
Grupo Carso. de
7D
-1.4%
1Y
-7.1%
Narrative Update • Jun 24

GCARSO A1: Stable Assumptions Will Sustain Persistent Overvaluation Risk

Analysts have kept their fair value estimate for Grupo Carso steady at MX$115.0 per share, citing largely unchanged assumptions for the discount rate, revenue growth, profit margin and future P/E, which support a consistent price target framework. What's in the News for Grupo Carso No recent news items, periodical coverage or key developments were provided for Grupo Carso in the supplied sources.
WALMEX *
Mex$49.26
Wal-Mart de México. de
7D
-1.6%
1Y
-14.5%
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.
PE&OLES *
Mex$782.22
Industrias Peñoles. de
7D
1.4%
1Y
55.5%