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Mexican (IPC) Market Analysis & Valuation

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies121
  • 7D1.3%
  • 3M6.0%
  • 1Y26.2%
  • YTD6.7%

In the last week, the market is up 1.3% led by Materials sector. In the last year, the market has climbed 26%. Looking forward, 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
Wed, 04 Feb 2026Mex$10.3tMex$7.6tMex$656.1b13.5x15.7x1.3x
Fri, 02 Jan 2026Mex$10.1tMex$7.7tMex$663.1b13.9x15.3x1.3x
Sun, 30 Nov 2025Mex$10.2tMex$8.0tMex$659.7b13.1x15.5x1.3x
Tue, 28 Oct 2025Mex$10.0tMex$7.9tMex$651.7b11.7x15.4x1.3x
Thu, 25 Sep 2025Mex$9.8tMex$7.9tMex$614.5b12.2x16x1.2x
Sat, 23 Aug 2025Mex$9.5tMex$7.8tMex$616.8b12.1x15.4x1.2x
Mon, 21 Jul 2025Mex$9.1tMex$7.6tMex$600.5b12.3x15.1x1.2x
Wed, 18 Jun 2025Mex$9.1tMex$7.6tMex$592.1b12x15.3x1.2x
Fri, 16 May 2025Mex$9.2tMex$7.6tMex$591.6b11.7x15.6x1.2x
Sun, 13 Apr 2025Mex$8.5tMex$7.6tMex$610.6b10.6x13.9x1.1x
Tue, 11 Mar 2025Mex$8.5tMex$7.6tMex$599.4b10.5x14.2x1.1x
Thu, 06 Feb 2025Mex$8.7tMex$7.6tMex$614.6b11.6x14.2x1.2x
Sat, 04 Jan 2025Mex$8.6tMex$7.6tMex$613.4b11.7x13.9x1.1x
Mon, 02 Dec 2024Mex$8.4tMex$7.4tMex$602.3b11.7x14x1.1x
Wed, 30 Oct 2024Mex$8.8tMex$7.4tMex$603.8b11.9x14.6x1.2x
Fri, 27 Sep 2024Mex$9.2tMex$7.4tMex$589.8b12x15.5x1.2x
Sun, 25 Aug 2024Mex$9.2tMex$7.3tMex$587.7b11.7x15.6x1.3x
Tue, 23 Jul 2024Mex$9.2tMex$7.1tMex$554.3b13.3x16.6x1.3x
Thu, 20 Jun 2024Mex$9.0tMex$7.1tMex$576.5b12.5x15.6x1.3x
Sat, 18 May 2024Mex$9.7tMex$7.0tMex$568.3b14x17x1.4x
Mon, 15 Apr 2024Mex$9.4tMex$7.1tMex$578.7b13.4x16.3x1.3x
Wed, 13 Mar 2024Mex$9.4tMex$7.1tMex$585.4b13x16.1x1.3x
Fri, 09 Feb 2024Mex$9.8tMex$7.4tMex$631.1b13.8x15.5x1.3x
Sun, 07 Jan 2024Mex$9.7tMex$7.4tMex$655.8b13.3x14.8x1.3x
Tue, 05 Dec 2023Mex$9.3tMex$7.4tMex$659.0b12.4x14.2x1.3x
Thu, 02 Nov 2023Mex$8.7tMex$7.5tMex$666.2b11.8x13x1.2x
Sat, 30 Sep 2023Mex$9.0tMex$7.5tMex$660.9b13x13.7x1.2x
Mon, 28 Aug 2023Mex$9.2tMex$7.4tMex$653.5b12.7x14.1x1.2x
Wed, 26 Jul 2023Mex$9.3tMex$7.4tMex$654.7b12.9x14.3x1.3x
Fri, 23 Jun 2023Mex$9.3tMex$7.3tMex$638.8b13.2x14.5x1.3x
Sun, 21 May 2023Mex$9.3tMex$7.3tMex$640.4b13.4x14.5x1.3x
Tue, 18 Apr 2023Mex$9.6tMex$7.2tMex$655.9b12.5x14.6x1.3x
Thu, 16 Mar 2023Mex$9.3tMex$7.4tMex$667.5b11.8x13.9x1.3x
Sat, 11 Feb 2023Mex$9.3tMex$7.2tMex$667.0b11.7x14x1.3x
Price to Earnings Ratio

14x


Total Market Cap: Mex$9.3tTotal Earnings: Mex$667.0bTotal Revenue: Mex$7.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 14.9x202420252026
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
  • 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 Market1.28%
Telecom3.43%
Financials2.92%
Materials1.81%
Industrials1.07%
Consumer Staples0.15%
Real Estate-0.51%
Utilities-1.42%
Energy-1.56%
Healthcare-1.87%
Consumer Discretionary-2.23%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 15.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 6.6% 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 18% over the next 5 years.
  • This is better than its past earnings growth rate of 15% 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$208.854.5%
+Mex$69.3b		102.0%PE18.7xMaterials
AMX B América Móvil. deMex$18.854.1%
+Mex$44.5b		28.6%PE16.8xTelecom
GFNORTE O Grupo Financiero Banorte. deMex$206.028.4%
+Mex$42.2b		39.5%PB2.3xFinancials
MFRISCO A-1 Minera Frisco. deMex$14.0926.3%
+Mex$17.7b		320.6%PE91.6xMaterials
AC * Arca Continental. deMex$207.044.1%
+Mex$13.9b		7.0%PE17.4xConsumer Staples
See more

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FEMSA UBD
Mex$186.94
Fomento Económico Mexicano. de
7D
1.1%
1Y
6.3%
FUNO 11
Mex$28.54
Fibra UNO
7D
-2.4%
1Y
25.9%
AC *
Mex$207.04
Arca Continental. de
7D
4.1%
1Y
7.0%

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Analysts now place their price target for Arca Continental at approximately $226, up from about $224, citing small adjustments to fair value inputs such as discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value Estimate was revised from MX$223.89 to MX$226.06, reflecting a small upward adjustment in the model.
CEMEX CPO
Mex$21.86
CEMEX. de
7D
-1.0%
1Y
75.2%

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GFNORTE O
Mex$206.02
Grupo Financiero Banorte. de
7D
8.4%
1Y
39.5%

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Analysts have nudged their fair value estimate for Grupo Financiero Banorte, de up from MXN 200.38 to MXN 209.50, citing updated assumptions on discount rate, profit margin and future P/E, even as a recent downgrade to Neutral with a MXN 195 price target reflects more cautious positioning. Analyst Commentary Bullish Takeaways Bullish analysts see the revised fair value of MXN 209.50 as support for a case that the shares still offer upside potential relative to the Neutral price target of MXN 195.
GMEXICO B
Mex$208.85
Grupo México. de
7D
4.5%
1Y
102.0%

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BBAJIO O
Mex$53.21
Banco del Bajío Institución de Banca Múltiple
7D
-4.6%
1Y
9.4%
MFRISCO A-1
Mex$14.09
Minera Frisco. de
7D
26.3%
1Y
320.6%

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AMX B
Mex$18.85
América Móvil. de
7D
4.1%
1Y
28.6%
ALSEA *
Mex$52.70
Alsea. de
7D
-5.4%
1Y
14.8%

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CHDRAUI B
Mex$119.01
Grupo Comercial Chedraui. de
7D
-2.2%
1Y
-2.8%

CHDRAUI B: Margin Discipline Will Support Upside Toward MXN 158

Analysts have reduced their price target for Grupo Comercial Chedraui, with fair value moving from $159.79 to $157.60. This change reflects updated assumptions on revenue growth, profit margins and the future P/E ratio.
ASUR B
Mex$631.46
Grupo Aeroportuario del Sureste S. A. B. de C. V
7D
5.3%
1Y
12.7%
BIMBO A
Mex$62.76
Grupo Bimbo. de
7D
4.2%
1Y
15.6%

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PE&OLES *
Mex$1,031.48
Industrias Peñoles. de
7D
-7.6%
1Y
238.2%
LIVEPOL C-1
Mex$100.50
El Puerto de Liverpool. de
7D
-3.3%
1Y
-3.7%

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WALMEX *
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7D
-3.5%
1Y
1.7%

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