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Mexican (IPC) Market Analysis & Valuation

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies121
  • 7D3.2%
  • 3M9.0%
  • 1Y24.1%
  • YTD8.8%

Over the last 7 days, the market has risen 3.2%, driven by gains in the Materials and Consumer Staples sectors of 5.3% and 3.7%, respectively. On the other hand, with a decline of 3.5%, the Energy sector is lagging behind. In the last year, the market has climbed 24%. Earnings are forecast to grow by 10% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026Mex$10.8tMex$7.7tMex$672.2b13.5x16x1.4x
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
Thu, 15 Jun 2023Mex$9.3tMex$7.3tMex$637.3b13.4x14.6x1.3x
Sat, 13 May 2023Mex$9.6tMex$7.4tMex$667.3b13.2x14.3x1.3x
Mon, 10 Apr 2023Mex$9.4tMex$7.2tMex$661.9b12x14.3x1.3x
Price to Earnings Ratio

14.3x


Total Market Cap: Mex$9.4tTotal Earnings: Mex$661.9bTotal Revenue: Mex$7.2tTotal 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 Market3.24%
Materials5.27%
Healthcare4.65%
Real Estate4.29%
Consumer Staples3.67%
Financials2.89%
Industrials2.42%
Consumer Discretionary1.76%
Telecom0.97%
Utilities-0.84%
Energy-3.46%
Sector PE
  • Investors favour the Industrials sector the most for future growth, which is trading above its 3-year average PE ratio of 19.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 15.3%, which is higher than its past year's earnings growth of 8.6% 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 24% 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
GMEXICO B Grupo México. deMex$196.464.8%
+Mex$69.9b		94.7%PE17xMaterials
PE&OLES * Industrias Peñoles. deMex$867.8612.2%
+Mex$37.5b		115.2%PE14.1xMaterials
FEMSA UBD Fomento Económico Mexicano. deMex$202.015.4%
+Mex$35.2b		-0.3%PE38.6xConsumer Staples
GFNORTE O Grupo Financiero Banorte. deMex$201.625.5%
+Mex$29.0b		30.6%PB2.2xFinancials
WALMEX * Wal-Mart de México. deMex$59.172.9%
+Mex$28.5b		-0.4%PE20.5xConsumer Staples
See more

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MEGA CPO
Mex$62.79
Megacable Holdings S. A. B. de C. V
7D
-0.8%
1Y
38.3%
ALSEA *
Mex$58.02
Alsea. de
7D
-1.4%
1Y
26.5%
CEMEX CPO
Mex$20.77
CEMEX. de
7D
5.4%
1Y
87.1%
GFNORTE O
Mex$201.62
Grupo Financiero Banorte. de
7D
5.5%
1Y
30.6%

GFNORTE O: Data Center Relocation Will Support Stronger Digital Earnings Outlook

Analysts have nudged their average price target for Grupo Financiero Banorte higher to around MX$221.67 from roughly MX$220.67, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E that remain broadly in line with prior views. What's in the News Banorte relocated its mainframe data center from Mexico City to Querétaro to reduce business risks tied to natural disasters and to support its digital infrastructure (Key Developments).
AC *
Mex$209.50
Arca Continental. de
7D
4.8%
1Y
-0.3%
VISTA A
Mex$1,230.86
Vista Energy. de
7D
-5.1%
1Y
29.6%
FEMSA UBD
Mex$202.01
Fomento Económico Mexicano. de
7D
5.4%
1Y
-0.3%
WALMEX *
Mex$59.17
Wal-Mart de México. de
7D
2.9%
1Y
-0.4%

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GCARSO A1
Mex$136.36
Grupo Carso. de
7D
4.7%
1Y
5.1%

GCARSO A1: Stable Assumptions Will Sustain Downside Risk At Current Pricing

Analysts have maintained their MX$115.00 price target on Grupo Carso, with small adjustments to the discount rate, revenue growth, profit margin and forward P/E assumptions keeping their overall valuation view broadly unchanged. Valuation Changes Fair Value: MX$115.00 remains unchanged, so the headline valuation anchor is stable.
Q *
Mex$170.40
Quálitas Controladora. de
7D
-1.6%
1Y
-7.1%
GMEXICO B
Mex$196.46
Grupo México. de
7D
4.8%
1Y
94.7%
VOLAR A
Mex$13.08
Controladora Vuela Compañía de Aviación. de
7D
-3.0%
1Y
23.2%
KUO B
Mex$58.00
Kuo. de
7D
-3.3%
1Y
45.0%
PE&OLES *
Mex$867.86
Industrias Peñoles. de
7D
12.2%
1Y
115.2%
ACTINVR B
Mex$21.78
Corporación Actinver S. A. B. de C. V
7D
-1.8%
1Y
17.7%
VALUEGF O
Mex$61.20
Value Grupo Financiero. de
7D
-5.7%
1Y
n/a