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Mexican (IPC) Market Analysis & Valuation

UpdatedNov 05, 2025
DataAggregated Company Financials
Companies123
  • 7D-0.4%
  • 3M9.9%
  • 1Y15.6%
  • YTD20.1%

In the last week, the market has stayed flat, however the Energy sector stood out, gaining 4.5%. As for the longer term, the market has risen 16% in the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Nov 2025Mex$10.0tMex$8.0tMex$654.5b12.3x15.3x1.3x
Fri, 03 Oct 2025Mex$9.9tMex$7.9tMex$615.6b11.8x16.1x1.3x
Sun, 31 Aug 2025Mex$9.4tMex$7.8tMex$617.2b12.1x15.2x1.2x
Tue, 29 Jul 2025Mex$9.2tMex$7.7tMex$603.9b12x15.3x1.2x
Thu, 26 Jun 2025Mex$9.3tMex$7.6tMex$601.8b12x15.4x1.2x
Sat, 24 May 2025Mex$9.3tMex$7.6tMex$589.7b12.4x15.7x1.2x
Mon, 21 Apr 2025Mex$8.7tMex$7.5tMex$605.6b11x14.4x1.2x
Wed, 19 Mar 2025Mex$8.7tMex$7.6tMex$595.2b10.9x14.6x1.1x
Fri, 14 Feb 2025Mex$9.0tMex$7.5tMex$627.6b11.6x14.3x1.2x
Sun, 12 Jan 2025Mex$8.5tMex$7.6tMex$606.6b11.2x14x1.1x
Tue, 10 Dec 2024Mex$8.7tMex$7.5tMex$603.0b12.2x14.4x1.2x
Thu, 07 Nov 2024Mex$8.6tMex$7.4tMex$596.2b11.6x14.4x1.2x
Sat, 05 Oct 2024Mex$9.0tMex$7.3tMex$587.8b12.2x15.3x1.2x
Mon, 02 Sep 2024Mex$9.1tMex$7.4tMex$590.2b11.8x15.4x1.2x
Wed, 31 Jul 2024Mex$9.0tMex$7.3tMex$583.7b11.9x15.4x1.2x
Fri, 28 Jun 2024Mex$9.0tMex$7.1tMex$583.9b12.8x15.4x1.3x
Sun, 26 May 2024Mex$9.3tMex$7.0tMex$566.4b13.5x16.4x1.3x
Tue, 23 Apr 2024Mex$9.3tMex$7.1tMex$574.7b13.6x16.2x1.3x
Thu, 21 Mar 2024Mex$9.5tMex$7.1tMex$584.8b13.3x16.2x1.3x
Sat, 17 Feb 2024Mex$9.5tMex$7.3tMex$619.4b14.1x15.4x1.3x
Mon, 15 Jan 2024Mex$9.6tMex$7.4tMex$655.8b12.9x14.7x1.3x
Wed, 13 Dec 2023Mex$9.4tMex$7.4tMex$658.2b12.3x14.3x1.3x
Fri, 10 Nov 2023Mex$8.8tMex$7.4tMex$658.6b11.8x13.4x1.2x
Sun, 08 Oct 2023Mex$8.8tMex$7.5tMex$665.8b12.5x13.2x1.2x
Tue, 05 Sep 2023Mex$9.2tMex$7.4tMex$658.1b13x14x1.2x
Thu, 03 Aug 2023Mex$9.4tMex$7.4tMex$660.8b13.3x14.2x1.3x
Sat, 01 Jul 2023Mex$9.2tMex$7.3tMex$638.0b13.1x14.5x1.3x
Mon, 29 May 2023Mex$9.3tMex$7.3tMex$639.2b13.3x14.5x1.3x
Wed, 26 Apr 2023Mex$9.4tMex$7.1tMex$658.7b12.8x14.3x1.3x
Fri, 24 Mar 2023Mex$9.1tMex$6.4tMex$637.0b12.9x14.2x1.4x
Sun, 19 Feb 2023Mex$9.4tMex$7.2tMex$664.1b11.9x14.2x1.3x
Tue, 17 Jan 2023Mex$9.5tMex$7.2tMex$658.6b11.9x14.4x1.3x
Thu, 15 Dec 2022Mex$9.0tMex$7.3tMex$650.6b11.7x13.8x1.2x
Sat, 12 Nov 2022Mex$9.2tMex$8.3tMex$2.6t11.3x3.6x1.1x
Price to Earnings Ratio

3.6x


Total Market Cap: Mex$9.2tTotal Earnings: Mex$2.6tTotal Revenue: Mex$8.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Mexican Market Price to Earnings3Y Average 14.7x202320242025
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 14.7x.
Past Earnings Growth
  • The earnings for Mexican listed companies have declined 37% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Mexican Market?

MX Market-0.45%
Energy4.47%
Consumer Discretionary1.25%
Real Estate0.92%
Industrials0.40%
Financials0.33%
Telecom-0.41%
Consumer Staples-0.70%
Materials-1.82%
Utilities-1.85%
Healthcare-2.70%
Sector PE
  • Investors favour the Telecom sector the most for future growth even though it's trading below its 3-year average PE ratio of 25.6x.
    • Analysts are expecting annual earnings growth of 18.7%, which is lower than the prior year's growth of 42.1% 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 20% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
GFNORTE O Grupo Financiero Banorte. deMex$177.572.5%
+Mex$12.1b		24.6%PB2xFinancials
AC * Arca Continental. deMex$182.872.1%
+Mex$6.4b		6.5%PE15.3xConsumer Staples
GCARSO A1 Grupo Carso. deMex$134.621.5%
+Mex$4.4b		13.8%PE35.7xIndustrials
VISTA A Vista Energy. deMex$907.834.5%
+Mex$4.1b		-9.8%PE7xEnergy
GMXT * GMéxico Transportes. deMex$34.102.4%
+Mex$3.5b		7.8%PE15.8xIndustrials
See more

Market Insights

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The AI capex boom is getting all of the attention, but behind that flurry of spending is an entire corner of the market that many are overlooking: Financials. Three key factors underpin the sector’s medium-term potential: a steepening yield curve, heightened IPO activity, and surging business spending together could boost financial stocks and ETFs higher.
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FEMSA UBD
Mex$172.46
Fomento Económico Mexicano. de
7D
-1.4%
1Y
-10.8%
PE&OLES *
Mex$718.55
Industrias Peñoles. de
7D
-3.8%
1Y
131.3%

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Nov 04
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GMXT *
Mex$34.10
GMéxico Transportes. de
7D
2.4%
1Y
7.8%

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Nov 04
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AMX B
Mex$21.18
América Móvil. de
7D
-0.3%
1Y
32.6%

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GMEXICO B
Mex$152.35
Grupo México. de
7D
-2.3%
1Y
40.4%

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Grupo México's analyst price target has been raised from MXN 143.83 to MXN 149.46, as analysts highlight improved commodity price outlooks along with adjusted revenue and profit margin expectations. Analyst Commentary Bullish Takeaways Bullish analysts have increased their price targets for Grupo México, reflecting optimistic expectations for strong commodity pricing, particularly in copper and gold.
GCARSO A1
Mex$134.62
Grupo Carso. de
7D
1.5%
1Y
13.8%

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Nov 03
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GFNORTE O
Mex$177.57
Grupo Financiero Banorte. de
7D
2.5%
1Y
24.6%

GFNORTE O: Digital Investments And Cost Control Will Fuel Mexican Market Share

Narrative Update: Grupo Financiero Banorte Price Target Adjustment Analysts have maintained their price target for Grupo Financiero Banorte at $198.31. They cite minor revisions to the discount rate and future price-to-earnings estimates as the rationale for reaffirming the target value.
LIVEPOL C-1
Mex$90.79
El Puerto de Liverpool. de
7D
2.5%
1Y
-13.5%

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Nov 01
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VISTA A
Mex$907.83
Vista Energy. de
7D
4.5%
1Y
-9.8%

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Oct 31
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WALMEX *
Mex$61.60
Wal-Mart de México. de
7D
-1.6%
1Y
10.2%

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Oct 31
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SORIANA B
Mex$26.45
Organización Soriana S. A. B. de C. V
7D
6.7%
1Y
-6.4%
AC *
Mex$182.87
Arca Continental. de
7D
2.1%
1Y
6.5%

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DANHOS 13
Mex$29.88
Fibra Danhos
7D
5.1%
1Y
39.9%
KIMBER A
Mex$34.73
Kimberly-Clark de México S. A. B. de C. V
7D
-4.0%
1Y
20.8%
GFINBUR O
Mex$44.51
Grupo Financiero Inbursa. de
7D
-2.9%
1Y
0.3%
ELEKTRA *
Mex$373.10
Grupo Elektra. de
7D
0%
1Y
n/a