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Mexican (IPC) Market Analysis & Valuation

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies125
  • 7D0.6%
  • 3M3.2%
  • 1Y17.7%
  • YTD20.9%

The market has been flat in the last week, however the Energy sector is down 3.2%. As for the longer term, the market has risen 18% in the past 12 months. Earnings are forecast to grow by 11% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025Mex$10.3tMex$7.8tMex$658.2b13.1x15.6x1.3x
Thu, 13 Nov 2025Mex$10.3tMex$8.0tMex$659.1b12x15.7x1.3x
Sat, 11 Oct 2025Mex$9.8tMex$7.9tMex$618.6b12x15.8x1.2x
Mon, 08 Sep 2025Mex$9.6tMex$7.8tMex$616.0b12.2x15.5x1.2x
Wed, 06 Aug 2025Mex$9.2tMex$7.7tMex$607.9b11.6x15.1x1.2x
Fri, 04 Jul 2025Mex$9.3tMex$7.6tMex$600.2b12.1x15.6x1.2x
Sun, 01 Jun 2025Mex$9.2tMex$7.6tMex$591.6b12.4x15.6x1.2x
Tue, 29 Apr 2025Mex$9.3tMex$7.5tMex$606.2b11.4x15.3x1.2x
Thu, 27 Mar 2025Mex$8.6tMex$7.5tMex$611.7b10.6x14.1x1.1x
Sat, 22 Feb 2025Mex$8.9tMex$7.6tMex$624.3b12x14.3x1.2x
Mon, 20 Jan 2025Mex$8.5tMex$7.6tMex$615.6b11.2x13.8x1.1x
Wed, 18 Dec 2024Mex$8.8tMex$7.5tMex$610.7b11.9x14.4x1.2x
Fri, 15 Nov 2024Mex$8.5tMex$7.4tMex$602.9b11.6x14.1x1.1x
Sun, 13 Oct 2024Mex$9.1tMex$7.3tMex$587.1b12.2x15.5x1.2x
Tue, 10 Sep 2024Mex$9.0tMex$7.4tMex$591.3b11.6x15.1x1.2x
Thu, 08 Aug 2024Mex$9.0tMex$7.3tMex$588.2b11.3x15.3x1.2x
Sat, 06 Jul 2024Mex$9.1tMex$7.1tMex$582.9b12.7x15.5x1.3x
Mon, 03 Jun 2024Mex$9.2tMex$7.0tMex$568.8b13.6x16.2x1.3x
Wed, 01 May 2024Mex$9.6tMex$7.1tMex$573.2b13.5x16.7x1.4x
Fri, 29 Mar 2024Mex$9.7tMex$7.1tMex$583.6b13.8x16.6x1.4x
Sun, 25 Feb 2024Mex$9.7tMex$7.2tMex$580.4b13.8x16.7x1.3x
Tue, 23 Jan 2024Mex$9.4tMex$7.4tMex$661.7b12.8x14.3x1.3x
Thu, 21 Dec 2023Mex$9.8tMex$7.4tMex$657.3b13.1x15x1.3x
Sat, 18 Nov 2023Mex$9.0tMex$7.4tMex$656.9b11.8x13.7x1.2x
Mon, 16 Oct 2023Mex$8.7tMex$7.5tMex$665.2b12.3x13.1x1.2x
Wed, 13 Sep 2023Mex$9.2tMex$7.5tMex$659.9b12.9x13.9x1.2x
Fri, 11 Aug 2023Mex$9.4tMex$7.5tMex$660.0b13.3x14.2x1.3x
Sun, 09 Jul 2023Mex$9.3tMex$7.3tMex$636.5b13.7x14.6x1.3x
Tue, 06 Jun 2023Mex$9.2tMex$7.3tMex$638.3b13.3x14.4x1.3x
Thu, 04 May 2023Mex$9.5tMex$7.4tMex$671.7b12.7x14.2x1.3x
Sat, 01 Apr 2023Mex$9.5tMex$7.2tMex$660.7b12x14.4x1.3x
Mon, 27 Feb 2023Mex$9.3tMex$7.3tMex$649.5b11.4x14.3x1.3x
Wed, 25 Jan 2023Mex$9.6tMex$7.2tMex$661.8b12x14.6x1.3x
Fri, 23 Dec 2022Mex$9.0tMex$7.3tMex$650.2b11.8x13.9x1.2x
Price to Earnings Ratio

13.9x


Total Market Cap: Mex$9.0tTotal Earnings: Mex$650.2bTotal Revenue: Mex$7.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 14.9x202320242025
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 2.2% 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 Market0.64%
Materials1.99%
Healthcare1.82%
Industrials1.51%
Consumer Discretionary1.42%
Utilities0.74%
Consumer Staples0.71%
Real Estate0.62%
Financials0.44%
Telecom-2.14%
Energy-3.19%
Sector PE
  • Investors favour the Consumer Staples sector the most for future growth, which is trading close to its 3-year average PE ratio of 19.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 12.4% which is higher than its past year's earnings decline of 4.2% 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 20% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 2.1% 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
CEMEX CPO CEMEX. deMex$20.653.6%
+Mex$10.3b		82.9%PE18.3xMaterials
SORIANA B Organización Soriana S. A. B. de C. VMex$35.9418.2%
+Mex$10.0b		18.7%PE16.8xConsumer Staples
GAP B Grupo Aeroportuario del Pacífico. deMex$453.523.8%
+Mex$8.3b		20.0%PE23.1xIndustrials
MFRISCO A-1 Minera Frisco. deMex$9.407.2%
+Mex$3.8b		161.8%PE61.1xMaterials
LASITE * Sitios Latinoamérica. deMex$5.5713.7%
+Mex$2.8b		53.9%PE13.3xTelecom
See more

Market Insights

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CEMEX CPO
Mex$20.97
CEMEX. de
7D
5.2%
1Y
85.7%
AC *
Mex$192.45
Arca Continental. de
7D
2.0%
1Y
9.6%

AC *: Higher Margins And Stable Risk Profile Will Support Ongoing Compounding

Analysts have nudged their price target on Arca Continental slightly lower, trimming fair value by about MXN 1.40 per share to MXN 223.67 as they fine tune assumptions around long term revenue growth and valuation multiples, even as projected profit margins edge marginally higher. Valuation Changes Fair Value: Trimmed slightly from MX$225.06 to MX$223.67 per share, reflecting modestly more conservative assumptions.
SORIANA B
Mex$32.63
Organización Soriana S. A. B. de C. V
7D
7.3%
1Y
7.8%
FEMSA UBD
Mex$185.38
Fomento Económico Mexicano. de
7D
-1.4%
1Y
4.1%

FEMSA UBD Leadership Transition Will Shape Modest Long-Term Earnings Outlook

Analysts have modestly raised their price target on Fomento Económico Mexicano, de from $185.00 to $188.00. This reflects slightly higher long term valuation multiples, despite tempering assumptions for revenue growth and profit margins and applying a marginally higher discount rate.
GMEXICO B
Mex$170.01
Grupo México. de
7D
1.9%
1Y
68.0%
FIBRAPL 14
Mex$72.97
FIBRA Prologis
7D
-3.9%
1Y
21.5%

FIBRAPL 14: Future Logistics Acquisitions And Distributions Will Shape Performance Outlook

Analysts have modestly raised their price target on FIBRA Prologis to approximately $79.87 from about $79.60, reflecting slightly higher expected profitability and a marginally richer future earnings multiple, even though the outlook for revenue growth and the discount rate remain nearly unchanged. What's in the News Acquired three fully leased logistics buildings in Monterrey, Toluca, and Ciudad Juarez for USD 67.1 million, expanding its industrial footprint in key Mexican markets (Key Developments) Announced a quarterly cash distribution of MXN 0.6914 per CBFI, payable on December 11, 2025, with ex dividend and record date on December 10, 2025 (Key Developments) Called a special or extraordinary shareholders meeting for October 13, 2025, to be held at the company offices on Paseo de la Reforma in Mexico City (Key Developments) Valuation Changes Fair Value Estimate has risen slightly to about $79.87 from roughly $79.60 per CBFI, implying a modest upward revision in intrinsic valuation.
GCARSO A1
Mex$118.08
Grupo Carso. de
7D
-1.6%
1Y
-0.8%
AMX B
Mex$19.01
América Móvil. de
7D
-1.8%
1Y
25.7%

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OMA B
Mex$242.32
Grupo Aeroportuario del Centro Norte. de
7D
4.2%
1Y
30.3%

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BIMBO A
Mex$58.68
Grupo Bimbo. de
7D
-1.6%
1Y
5.0%

BIMBO A Leadership Change Will Drive Margins And Support Undervalued Upside

Analysts have nudged their price target for Grupo Bimbo higher, lifting fair value by approximately $0.75 per share as they factor in slightly stronger long term profit margins, despite moderating revenue growth and a modestly higher future earnings multiple. What's in the News Grupo Bimbo has appointed Alejandro Rodríguez Bas as its new CEO following the resignation of Rafael Pamias Romero, signaling a leadership transition at the top of the company (Key Developments).
GAP B
Mex$457.47
Grupo Aeroportuario del Pacífico. de
7D
4.7%
1Y
21.1%

GAP B Will Benefit From Resilient Traffic And Lower Perceived Risk

Analysts have trimmed their price target for Grupo Aeroportuario del Pacífico to approximately $465 from about $476. This reflects expectations for more moderate revenue growth and valuation multiples, partially offset by improved profitability and a lower perceived risk profile.
GFNORTE O
Mex$174.49
Grupo Financiero Banorte. de
7D
2.2%
1Y
29.1%

GFNORTE O Net Profit Margin Strength Will Support Future Upside Potential

Analysts slightly raised their price target for Grupo Financiero Banorte to MXN 199.75 from MXN 199.63, citing modest tweaks to discount rate, revenue growth, and profitability assumptions, even as some on the Street turn more cautious with a Neutral stance and a MXN 195 target. Analyst Commentary Street research reflects a more balanced stance on Grupo Financiero Banorte, with some analysts trimming their outlook in light of recent performance and valuation levels.
MFRISCO A-1
Mex$9.73
Minera Frisco. de
7D
10.9%
1Y
171.0%

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Q *
Mex$174.15
Quálitas Controladora. de
7D
-3.3%
1Y
4.9%
VISTA A
Mex$891.00
Vista Energy. de
7D
-4.1%
1Y
-23.8%
GFINBUR O
Mex$43.52
Grupo Financiero Inbursa. de
7D
-1.6%
1Y
-5.5%