Declared Dividend • May 20
Dividend of Mex$0.58 announced Shareholders will receive a dividend of Mex$0.58. Ex-date: 17th November 2026 Payment date: 18th November 2026 Dividend yield will be 23%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Chairman Kyle Kinnard was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 26
Wal-Mart de México, S.A.B. de C.V., Annual General Meeting, Apr 20, 2026 Wal-Mart de México, S.A.B. de C.V., Annual General Meeting, Apr 20, 2026. Location: adolfo cerezo council room of the building, boulevard manuel avila camacho, number 647 colonia periodista, miguel hidalgo mayors office, postal code 11220, mexico Mexico Board Change • Dec 30
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Jorge Mora was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Mar 26
Wal-Mart de México, S.A.B. de C.V., Annual General Meeting, Apr 10, 2025 Wal-Mart de México, S.A.B. de C.V., Annual General Meeting, Apr 10, 2025. Board Change • Dec 30
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director General, CEO & Director Ignacio Caride was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Nov 13
Dividend of Mex$1.09 announced Shareholders will receive a dividend of Mex$1.09. Ex-date: 9th December 2024 Payment date: 10th December 2024 Dividend yield will be 44%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Nov 04
Upcoming dividend of Mex$1.08 per share Eligible shareholders must have bought the stock before 11 November 2024. Payment date: 12 November 2024. Payout ratio is a comfortable 39% and the cash payout ratio is 94%. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (4.0%). Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: Mex$0.74 (vs Mex$0.78 in 3Q 2023) Third quarter 2024 results: EPS: Mex$0.74 (down from Mex$0.78 in 3Q 2023). Revenue: Mex$230.2b (up 8.0% from 3Q 2023). Net income: Mex$12.9b (down 5.1% from 3Q 2023). Profit margin: 5.6% (down from 6.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: Mex$0.72 (vs Mex$0.66 in 2Q 2023) Second quarter 2024 results: EPS: Mex$0.72 (up from Mex$0.66 in 2Q 2023). Revenue: Mex$227.4b (up 6.4% from 2Q 2023). Net income: Mex$12.5b (up 9.3% from 2Q 2023). Profit margin: 5.5% (up from 5.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: Mex$0.76 (vs Mex$0.66 in 1Q 2023) First quarter 2024 results: EPS: Mex$0.76 (up from Mex$0.66 in 1Q 2023). Revenue: Mex$226.2b (up 9.8% from 1Q 2023). Net income: Mex$13.2b (up 14% from 1Q 2023). Profit margin: 5.8% (up from 5.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: Mex$2.96 (vs Mex$2.81 in FY 2022) Full year 2023 results: EPS: Mex$2.96 (up from Mex$2.81 in FY 2022). Revenue: Mex$886.5b (up 8.3% from FY 2022). Net income: Mex$51.6b (up 5.3% from FY 2022). Profit margin: 5.8% (down from 6.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 14% per year. Upcoming Dividend • Nov 28
Upcoming dividend of Mex$0.97 per share at 2.6% yield Eligible shareholders must have bought the stock before 04 December 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.3%). Upcoming Dividend • Nov 20
Upcoming dividend of Mex$0.97 per share at 2.5% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 29 November 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.3%). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: Mex$0.78 (vs Mex$0.70 in 3Q 2022) Third quarter 2023 results: EPS: Mex$0.78 (up from Mex$0.70 in 3Q 2022). Revenue: Mex$213.1b (up 7.7% from 3Q 2022). Net income: Mex$13.6b (up 12% from 3Q 2022). Profit margin: 6.4% (up from 6.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Jul 30
Second quarter 2023 earnings released: EPS: Mex$0.66 (vs Mex$0.62 in 2Q 2022) Second quarter 2023 results: EPS: Mex$0.66 (up from Mex$0.62 in 2Q 2022). Revenue: Mex$213.7b (up 9.3% from 2Q 2022). Net income: Mex$11.4b (up 5.1% from 2Q 2022). Profit margin: 5.4% (down from 5.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: Mex$0.66 (vs Mex$0.64 in 1Q 2022) First quarter 2023 results: EPS: Mex$0.66 (up from Mex$0.64 in 1Q 2022). Revenue: Mex$206.1b (up 9.7% from 1Q 2022). Net income: Mex$11.5b (up 3.7% from 1Q 2022). Profit margin: 5.6% (down from 5.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 15% per year. Upcoming Dividend • Mar 29
Upcoming dividend of Mex$0.75 per share at 3.6% yield Eligible shareholders must have bought the stock before 05 April 2023. Payment date: 11 April 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.8%). Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: Mex$2.81 (vs Mex$2.53 in FY 2021) Full year 2022 results: EPS: Mex$2.81 (up from Mex$2.53 in FY 2021). Revenue: Mex$819.2b (up 11% from FY 2021). Net income: Mex$49.0b (up 11% from FY 2021). Profit margin: 6.0% (in line with FY 2021). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Dec 16
Upcoming dividend of Mex$0.86 per share Eligible shareholders must have bought the stock before 23 December 2022. Payment date: 27 December 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Eric Perez-Grovas Arechiga was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 10
Upcoming dividend of Mex$0.85 per share Eligible shareholders must have bought the stock before 17 November 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.7%). Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: Mex$4.32 (vs Mex$0.63 in 3Q 2021) Third quarter 2022 results: EPS: Mex$4.32 (up from Mex$0.63 in 3Q 2021). Revenue: Mex$197.9b (up 12% from 3Q 2021). Net income: Mex$12.2b (up 10.0% from 3Q 2021). Profit margin: 6.1% (down from 6.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Reported Earnings • Jul 27
Second quarter 2022 earnings released: EPS: Mex$0.62 (vs Mex$0.56 in 2Q 2021) Second quarter 2022 results: EPS: Mex$0.62 (up from Mex$0.56 in 2Q 2021). Revenue: Mex$195.6b (up 12% from 2Q 2021). Net income: Mex$10.9b (up 12% from 2Q 2021). Profit margin: 5.6% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 8.9%, compared to a 7.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: Mex$0.64 (vs Mex$0.58 in 1Q 2021) First quarter 2022 results: EPS: Mex$0.64 (up from Mex$0.58 in 1Q 2021). Revenue: Mex$187.8b (up 10.0% from 1Q 2021). Net income: Mex$11.1b (up 10% from 1Q 2021). Profit margin: 5.9% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 9.0%, compared to a 7.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Eric Perez-Grovas Arechiga was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Net income: Mex$44.1b (up 32% from FY 2020). Like-for-like sales growth: 3.6% vs FY 2020 Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: Mex$2.53 (up from Mex$1.92 in FY 2020). Revenue: Mex$736.0b (up 5.0% from FY 2020). Net income: Mex$44.1b (up 32% from FY 2020). Profit margin: 6.0% (up from 4.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 8.1%, compared to a 8.3% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Dec 17
Upcoming dividend of Mex$0.82 per share Eligible shareholders must have bought the stock before 24 December 2021. Payment date: 28 December 2021. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (3.7%). Upcoming Dividend • Nov 15
Upcoming dividend of Mex$0.81 per share Eligible shareholders must have bought the stock before 22 November 2021. Payment date: 24 November 2021. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.5%). Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS Mex$0.63 (vs Mex$0.53 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: Mex$176.0b (up 6.4% from 3Q 2020). Net income: Mex$11.0b (up 21% from 3Q 2020). Profit margin: 6.3% (up from 5.5% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS Mex$0.56 (vs Mex$0.096 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Mex$174.7b (up 3.3% from 2Q 2020). Net income: Mex$9.76b (up 487% from 2Q 2020). Profit margin: 5.6% (up from 1.0% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • May 01
First quarter 2021 earnings released: EPS Mex$0.58 (vs Mex$0.57 in 1Q 2020) The company reported a mediocre first quarter result with flat earnings, revenues and profit margins. First quarter 2021 results: Revenue: Mex$170.8b (flat on 1Q 2020). Net income: Mex$10.1b (flat on 1Q 2020). Profit margin: 5.9% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Mar 15
Full year 2020 earnings released: EPS Mex$1.92 (vs Mex$2.17 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: Mex$701.7b (up 8.6% from FY 2019). Net income: Mex$33.4b (down 12% from FY 2019). Profit margin: 4.8% (down from 5.9% in FY 2019). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 7.0% vs FY 2019 Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Feb 21
Full year 2020 earnings released: EPS Mex$1.92 (vs Mex$2.17 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: Mex$701.7b (up 8.6% from FY 2019). Net income: Mex$33.4b (down 12% from FY 2019). Profit margin: 4.8% (down from 5.9% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 21
Revenue misses expectations Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 5.1%, compared to a 1.6% growth forecast for the Consumer Retailing industry in Germany. Is New 90 Day High Low • Jan 07
New 90-day high: €2.48 The company is up 14% from its price of €2.18 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.22 per share. Upcoming Dividend • Nov 16
Upcoming Dividend of Mex$0.75 Per Share Will be paid on the 25th of November to those who are registered shareholders by the 23rd of November. The trailing yield of 3.2% is below the top quartile of German dividend payers (3.7%), and is lower than industry peers (3.7%). Is New 90 Day High Low • Nov 07
New 90-day high: €2.22 The company is up 9.0% from its price of €2.04 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.12 per share. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of Mex$32.1b, down 17% from the prior year. Total revenue was Mex$690.9b over the last 12 months, up 8.3% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 0.7% at Mex$165.4b. Revenue is forecast to grow 6.2% over the next year, compared to a 2.0% growth forecast for the Consumer Retailing industry in Germany. Is New 90 Day High Low • Sep 25
New 90-day low: €1.95 The company is down 9.0% from its price of €2.14 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.87 per share.