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Mexican (IPC) Market Analysis & Valuation

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies121
  • 7D2.1%
  • 3M5.6%
  • 1Y25.0%
  • YTD3.1%

Over the last 7 days, the market has risen 1.1%, driven by gains of 3.5% in the Materials sector. As for the past 12 months, the market is up 24%. Earnings are forecast to grow by 12% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026Mex$10.4tMex$7.7tMex$662.7b13.6x15.6x1.3x
Thu, 11 Dec 2025Mex$10.1tMex$7.8tMex$659.3b12.6x15.4x1.3x
Sat, 08 Nov 2025Mex$10.2tMex$8.0tMex$656.2b12x15.5x1.3x
Mon, 06 Oct 2025Mex$9.9tMex$7.9tMex$615.3b11.9x16.1x1.3x
Wed, 03 Sep 2025Mex$9.5tMex$7.8tMex$616.9b12.3x15.4x1.2x
Fri, 01 Aug 2025Mex$9.2tMex$7.7tMex$608.0b12.1x15.2x1.2x
Sun, 29 Jun 2025Mex$9.3tMex$7.6tMex$601.3b12.2x15.5x1.2x
Tue, 27 May 2025Mex$9.3tMex$7.6tMex$589.7b12.4x15.7x1.2x
Thu, 24 Apr 2025Mex$9.1tMex$7.5tMex$605.4b11.2x15.1x1.2x
Sat, 22 Mar 2025Mex$8.7tMex$7.6tMex$596.6b10.9x14.5x1.1x
Mon, 17 Feb 2025Mex$9.0tMex$7.6tMex$617.5b11.6x14.5x1.2x
Wed, 15 Jan 2025Mex$8.5tMex$7.6tMex$613.6b11.3x13.9x1.1x
Fri, 13 Dec 2024Mex$8.7tMex$7.5tMex$602.8b12x14.5x1.2x
Sun, 10 Nov 2024Mex$8.6tMex$7.4tMex$594.0b11.5x14.5x1.2x
Tue, 08 Oct 2024Mex$9.1tMex$7.3tMex$587.2b12.1x15.5x1.2x
Thu, 05 Sep 2024Mex$9.0tMex$7.4tMex$591.6b11.7x15.2x1.2x
Sat, 03 Aug 2024Mex$9.0tMex$7.3tMex$584.5b11.9x15.4x1.2x
Mon, 01 Jul 2024Mex$9.0tMex$7.1tMex$583.3b13x15.4x1.3x
Wed, 29 May 2024Mex$9.3tMex$7.0tMex$567.3b13.4x16.3x1.3x
Fri, 26 Apr 2024Mex$9.4tMex$7.1tMex$580.2b12.9x16.2x1.3x
Sun, 24 Mar 2024Mex$9.6tMex$7.1tMex$585.2b13.6x16.4x1.4x
Tue, 20 Feb 2024Mex$9.5tMex$7.3tMex$619.0b13.3x15.4x1.3x
Thu, 18 Jan 2024Mex$9.6tMex$7.4tMex$657.7b12.8x14.5x1.3x
Sat, 16 Dec 2023Mex$9.7tMex$7.4tMex$657.6b13x14.8x1.3x
Mon, 13 Nov 2023Mex$8.8tMex$7.4tMex$657.4b11.9x13.4x1.2x
Wed, 11 Oct 2023Mex$8.7tMex$7.5tMex$664.5b12.5x13.2x1.2x
Fri, 08 Sep 2023Mex$9.2tMex$7.5tMex$660.4b12.9x14x1.2x
Sun, 06 Aug 2023Mex$9.4tMex$7.5tMex$660.3b13.4x14.2x1.3x
Tue, 04 Jul 2023Mex$9.2tMex$7.3tMex$637.2b13.4x14.5x1.3x
Thu, 01 Jun 2023Mex$9.2tMex$7.3tMex$639.6b13.2x14.3x1.2x
Sat, 29 Apr 2023Mex$9.6tMex$7.4tMex$669.5b12.8x14.3x1.3x
Mon, 27 Mar 2023Mex$9.1tMex$7.2tMex$637.0b12.9x14.3x1.3x
Wed, 22 Feb 2023Mex$9.4tMex$7.2tMex$669.3b11.7x14x1.3x
Fri, 20 Jan 2023Mex$9.5tMex$7.2tMex$659.7b11.8x14.3x1.3x
Price to Earnings Ratio

14.3x


Total Market Cap: Mex$9.5tTotal Earnings: Mex$659.7bTotal 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
  • 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 Market2.09%
Materials5.39%
Energy3.56%
Real Estate1.87%
Healthcare1.58%
Consumer Staples1.43%
Telecom0.86%
Consumer Discretionary0.67%
Financials0.60%
Industrials0.36%
Utilities0.0014%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 15.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 11.2% 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 Telecom sector, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 42% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 6.5% 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$189.535.3%
+Mex$73.7b		86.6%PE18.9xMaterials
PE&OLES * Industrias Peñoles. deMex$1.07k10.7%
+Mex$41.2b		268.6%PE26xMaterials
BIMBO A Grupo Bimbo. deMex$63.5110.3%
+Mex$25.6b		25.2%PE24.2xConsumer Staples
CEMEX CPO CEMEX. deMex$22.264.2%
+Mex$13.0b		101.8%PE19.8xMaterials
AMX B América Móvil. deMex$18.330.8%
+Mex$9.0b		27.9%PE16.3xTelecom
See more

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GMEXICO B
Mex$189.53
Grupo México. de
7D
5.3%
1Y
86.6%
SORIANA B
Mex$35.85
Organización Soriana S. A. B. de C. V
7D
-13.2%
1Y
18.0%
AMX B
Mex$18.33
América Móvil. de
7D
0.8%
1Y
27.9%

AMX B: Future Returns Will Rely On Higher P/E Multiple

Analysts have nudged their price target for América Móvil up slightly to about $21.93 from roughly $21.73, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. Valuation Changes Fair Value: Updated from US$21.73 to about US$21.93, a slight upward adjustment in the modelled estimate.
HERDEZ *
Mex$79.33
Grupo Herdez. de
7D
-4.4%
1Y
45.3%

HERDEZ *: Fair Outlook Will Balance Meeting Uncertainty And Refined Margin Expectations

Analysts have adjusted their price target for Grupo Herdez, S.A.B. de C.V., citing small refinements to revenue growth, profit margin assumptions, and the forward P/E multiple that together fine-tune their view of the stock's fair value at $85.00. What's in the News Grupo Herdez, S.A.B. de C.V. has called a Special and Extraordinary Shareholders Meeting for December 4, 2025, in Mexico City at Monte Pelvoux 215 in the Lomas de Chapultepec neighborhood of the Miguel Hidalgo borough, postal code 11000 (Key Developments).
CEMEX CPO
Mex$22.26
CEMEX. de
7D
4.2%
1Y
101.8%

CEMEX CPO: Rich P/E Will Likely Cap Returns Despite Margin Outlook

Analysts have trimmed their price target for CEMEX.de to €17.08, reflecting slightly lower discount rate and future P/E assumptions, alongside modestly higher revenue growth and profit margin expectations in their updated models. What's in the News CEMEX, S.A.B. de C.V. held an Analyst/Investor Day, giving the market an updated look at its business priorities and financial framework (Key Developments).
GCARSO A1
Mex$120.80
Grupo Carso. de
7D
3.1%
1Y
2.9%
PE&OLES *
Mex$1,074.08
Industrias Peñoles. de
7D
10.7%
1Y
268.6%
BIMBO A
Mex$63.51
Grupo Bimbo. de
7D
10.3%
1Y
25.2%

BIMBO A: New Leadership Will Support Stronger Profitability And ReRating Potential

Analysts kept their fair value estimate for Grupo Bimbo at $87.00, while adjusting key inputs such as revenue growth, profit margin and future P/E assumptions, which together inform this unchanged price target. What's in the News Grupo Bimbo has appointed Alejandro Rodríguez Bas as its new CEO, following the resignation of Rafael Pamias Romero.
GFNORTE O
Mex$168.91
Grupo Financiero Banorte. de
7D
-0.8%
1Y
17.5%
AC *
Mex$196.22
Arca Continental. de
7D
2.5%
1Y
7.3%

AC *: Higher Margins And Stable Risk Profile Will Drive Future Compounding

Analysts have slightly raised their fair value estimate for Arca Continental to $223.89 from $223.67, citing small adjustments to revenue growth, profit margin and future P/E assumptions in their updated models. Valuation Changes Fair Value Estimate updated slightly from MX$223.67 to MX$223.89 per share.
PINFRA *
Mex$261.99
Promotora y Operadora de Infraestructura S. A. B. de C. V
7D
-1.8%
1Y
45.7%

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ASUR B
Mex$579.19
Grupo Aeroportuario del Sureste S. A. B. de C. V
7D
-1.1%
1Y
7.2%

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FRAGUA B
Mex$529.87
Corporativo Fragua. de
7D
-3.6%
1Y
-10.1%

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ICH B
Mex$168.70
Industrias CH S. A. B. de C. V
7D
-1.2%
1Y
-3.8%
GFINBUR O
Mex$44.55
Grupo Financiero Inbursa. de
7D
2.9%
1Y
2.2%