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Jul 22
Mexican (IPC) Market Analysis & Valuation
UpdatedJul 22, 2024
DataAggregated Company Financials
Companies120
- 7D-1.6%
- 3M-3.2%
- 1Y0.1%
- YTD-4.7%
Over the last 7 days, the market has dropped 1.6%, driven by a pullback of 5.4% in the Materials sector. Meanwhile, the Energy sector has outperformed, gaining 6.4% in that time. Overall the market has been flat in the last year. Looking forward, earnings are forecast to grow by 12% annually.
Market Valuation and Performance
Has the Mexican Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 23 Jul 2024 | Mex$9.2t | Mex$7.2t | Mex$555.2b | 13.4x | 16.5x | 1.3x |
| Thu, 20 Jun 2024 | Mex$9.0t | Mex$7.1t | Mex$576.5b | 12.5x | 15.6x | 1.3x |
| Sat, 18 May 2024 | Mex$9.7t | Mex$7.0t | Mex$568.3b | 14x | 17x | 1.4x |
| Mon, 15 Apr 2024 | Mex$9.4t | Mex$7.1t | Mex$578.7b | 13.4x | 16.3x | 1.3x |
| Wed, 13 Mar 2024 | Mex$9.4t | Mex$7.1t | Mex$585.4b | 13x | 16.1x | 1.3x |
| Fri, 09 Feb 2024 | Mex$9.8t | Mex$7.4t | Mex$631.1b | 13.8x | 15.5x | 1.3x |
| Sun, 07 Jan 2024 | Mex$9.7t | Mex$7.4t | Mex$655.8b | 13.3x | 14.8x | 1.3x |
| Tue, 05 Dec 2023 | Mex$9.3t | Mex$7.4t | Mex$659.0b | 12.4x | 14.2x | 1.3x |
| Thu, 02 Nov 2023 | Mex$8.7t | Mex$7.5t | Mex$666.2b | 11.8x | 13x | 1.2x |
| Sat, 30 Sep 2023 | Mex$9.0t | Mex$7.5t | Mex$660.9b | 13x | 13.7x | 1.2x |
| Mon, 28 Aug 2023 | Mex$9.2t | Mex$7.4t | Mex$653.5b | 12.7x | 14.1x | 1.2x |
| Wed, 26 Jul 2023 | Mex$9.3t | Mex$7.4t | Mex$654.7b | 12.9x | 14.3x | 1.3x |
| Fri, 23 Jun 2023 | Mex$9.3t | Mex$7.3t | Mex$638.8b | 13.2x | 14.5x | 1.3x |
| Sun, 21 May 2023 | Mex$9.3t | Mex$7.3t | Mex$640.4b | 13.4x | 14.5x | 1.3x |
| Tue, 18 Apr 2023 | Mex$9.6t | Mex$7.2t | Mex$655.9b | 12.5x | 14.6x | 1.3x |
| Thu, 16 Mar 2023 | Mex$9.3t | Mex$7.4t | Mex$667.5b | 11.8x | 13.9x | 1.3x |
| Sat, 11 Feb 2023 | Mex$9.3t | Mex$7.2t | Mex$667.0b | 11.7x | 14x | 1.3x |
| Mon, 09 Jan 2023 | Mex$9.2t | Mex$7.2t | Mex$661.1b | 11.9x | 14x | 1.3x |
| Wed, 07 Dec 2022 | Mex$9.1t | Mex$7.3t | Mex$651.2b | 11.8x | 14x | 1.2x |
| Fri, 04 Nov 2022 | Mex$9.1t | Mex$8.3t | Mex$2.6t | 11.5x | 3.5x | 1.1x |
| Sun, 02 Oct 2022 | Mex$8.2t | Mex$7.2t | Mex$627.4b | 10.7x | 13.1x | 1.1x |
| Tue, 30 Aug 2022 | Mex$8.4t | Mex$7.2t | Mex$626.4b | 11.3x | 13.5x | 1.2x |
| Thu, 28 Jul 2022 | Mex$8.6t | Mex$7.1t | Mex$628.3b | 12.7x | 13.7x | 1.2x |
| Sat, 25 Jun 2022 | Mex$8.4t | Mex$6.9t | Mex$629.0b | 12.2x | 13.4x | 1.2x |
| Mon, 23 May 2022 | Mex$8.8t | Mex$6.9t | Mex$622.4b | 11.9x | 14.1x | 1.3x |
| Wed, 20 Apr 2022 | Mex$9.3t | Mex$6.7t | Mex$569.5b | 14.2x | 16.4x | 1.4x |
| Fri, 18 Mar 2022 | Mex$9.3t | Mex$6.7t | Mex$576.3b | 14.1x | 16.2x | 1.4x |
| Sun, 13 Feb 2022 | Mex$9.1t | Mex$6.5t | Mex$572.2b | 13.8x | 15.9x | 1.4x |
| Tue, 11 Jan 2022 | Mex$9.0t | Mex$6.6t | Mex$575.5b | 13.8x | 15.6x | 1.4x |
| Thu, 09 Dec 2021 | Mex$8.8t | Mex$6.6t | Mex$577.4b | 13.2x | 15.2x | 1.3x |
| Sat, 06 Nov 2021 | Mex$9.0t | Mex$6.7t | Mex$576.4b | 12.8x | 15.7x | 1.3x |
| Mon, 04 Oct 2021 | Mex$8.8t | Mex$6.5t | Mex$530.5b | 13.4x | 16.6x | 1.3x |
| Wed, 01 Sep 2021 | Mex$10.0t | Mex$6.4t | Mex$530.1b | 13.6x | 18.9x | 1.6x |
Price to Earnings Ratio
18.4x
Current Market PE
- Investors are optimistic on the Mexican market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 16.5x which is higher than its 3-year average PE of 14.8x.
Past Earnings Growth
- The earnings for Mexican listed companies have remained mostly flat over the last three years.
- Meanwhile revenues have grown 3.6% 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 Market | -1.65% | |
| Energy | 6.36% | |
| Utilities | 0.04% | |
| Tech | 0% | |
| Financials | -0.26% | |
| Industrials | -0.96% | |
| Consumer Staples | -1.16% | |
| Real Estate | -1.33% | |
| Telecom | -1.42% | |
| Consumer Discretionary | -1.42% | |
| Healthcare | -3.29% | |
| Materials | -5.42% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 15.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 24.7% which is higher than its past year's earnings decline of 38.4% per year.
- The Real Estate sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.1x.
Forecasted Growth
- Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings decline of 38% per year.
- In contrast, the Real Estate sector is expected to see its earnings decline by 22% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| FEMSA UBD Fomento Económico Mexicano. de | Mex$212.44 | 3.4% +Mex$22.2b | 17.0% | PE26.6x | Consumer Staples | |
| AC * Arca Continental. de | Mex$184.30 | 3.0% +Mex$8.9b | 6.3% | PE17.1x | Consumer Staples | |
| GFNORTE O Grupo Financiero Banorte. de | Mex$150.79 | 2.0% +Mex$8.4b | 1.5% | PB1.7x | Financials | |
| CHDRAUI B Grupo Comercial Chedraui. de | Mex$146.13 | 5.7% +Mex$7.6b | 53.5% | PE17.5x | Consumer Staples | |
| ASUR B Grupo Aeroportuario del Sureste S. A. B. de C. V | Mex$566.68 | 2.6% +Mex$4.2b | 24.8% | PE15.8x | Industrials |
