# Fomento Economico Mexicano (FMX.US)

Canonical: https://gigainvestors.com/s/FMX

Analysis as of: 2026-10-16T07:28:35.566Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $120.99 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Bill Nygren](https://gigainvestors.com/HA): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Up 7% since Oct 2023

Story as of 2026-10-16T10:01:25.940Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in beverages brewers; annual sales are USD 46.6 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1061736/000162828026027231/fmx-20251231.htm (filed 2026-04-24); FY2025: revenue 46647718000; grossProfit 18947221000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); FMX.US: Fomento Económico Mexicano, S.A.B. de C.V., through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide. The company operates through Coca-Cola FEMSA, Proximity Americas Division, Proximity Europe Division, Health Division, Fuel Division, and Others segments. It produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay. The company also operates small-box retail chain stores in Mexico, Colombia, Peru, Chile, Brazil, and the United States under the OXXO name; retail service stations for fuels, motor oils, lubricants, and car care products under the OXXO GAS name in Mexico; and drugstores in Chile, Colombia, Ecuador, and Mexico under the Cruz Verde, Fybeca, Sana Sana, YZA, La Moderna, and Farmacon names. In addition, the company provides transport logistics and maintenance services in Mexico, Brazil, and Colombia; processes electronic transactions for small and medium-sized businesses under the Spin name; and engages in the proximity discount grocery business under the Bara name. Further, it operates small-box retail and foodvenience chain stores in Switzerland, Germany, Austria, Luxembourg, and the Netherlands under the k kiosk, Brezelkönig, BackWerk, Ditsch, Press & Books, avec, Caffè Spettacolo, and ok." brands. Fomento Económico Mexicano, S.A.B. de C.V. was founded in 1890 and is headquartered in Monterrey, Mexico.

### Where the cash goes

Paid dividends in 1 of 1 year; bought back USD 685.8 million of shares.

- Source: https://www.sec.gov/Archives/edgar/data/1061736/000162828026027231/fmx-20251231.htm (filed 2026-04-24); FY2025: growth capex 0; upkeep 2332347090; owner earnings 1113684844. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-24); Dividend observations: [[2025,2769339750]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1061736/000162828026027231/fmx-20251231.htm (filed 2026-04-24); FY2025: cash repurchases 685831080 USD.

### Are managers owners

Insiders own <0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); FMX.US SharesStats.PercentInsiders = 0.001 percentage points; cache date 2026-10-16.

### What the price says

The price is 0.9 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-04-24); Closing price 120.99 USD; reporting-to-trading FX 1; FY2025 annual sales per share 139.22489277815748; price multiple 0.8690256288635598. FY2025 cash earnings/share 3.323906498374884. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $95.67 per share

- 2016-11: $78.05 per share

- 2016-12: $76.21 per share

- 2017-01: $75.23 per share

- 2017-02: $80.54 per share

- 2017-03: $88.52 per share

- 2017-04: $90.04 per share

- 2017-05: $94.34 per share

- 2017-06: $98.34 per share

- 2017-07: $100.88 per share

- 2017-08: $100.06 per share

- 2017-09: $95.53 per share

- 2017-10: $87.75 per share

- 2017-11: $89.97 per share

- 2017-12: $93.90 per share

- 2018-01: $97.54 per share

- 2018-02: $92.30 per share

- 2018-03: $91.43 per share

- 2018-04: $96.66 per share

- 2018-05: $83.32 per share

- 2018-06: $87.79 per share

- 2018-07: $98.14 per share

- 2018-08: $95.88 per share

- 2018-09: $98.97 per share

- 2018-10: $85.07 per share

- 2018-11: $86.75 per share

- 2018-12: $86.05 per share

- 2019-01: $91.02 per share

- 2019-02: $90.63 per share

- 2019-03: $92.28 per share

- 2019-04: $97.59 per share

- 2019-05: $93.06 per share

- 2019-06: $96.75 per share

- 2019-07: $90.70 per share

- 2019-08: $91.36 per share

- 2019-09: $91.58 per share

- 2019-10: $89.02 per share

- 2019-11: $90.93 per share

- 2019-12: $94.51 per share

- 2020-01: $90.17 per share

- 2020-02: $81.39 per share

- 2020-03: $60.51 per share

- 2020-04: $64.33 per share

- 2020-05: $67.71 per share

- 2020-06: $62.01 per share

- 2020-07: $61.51 per share

- 2020-08: $58.33 per share

- 2020-09: $56.19 per share

- 2020-10: $53.77 per share

- 2020-11: $72.15 per share

- 2020-12: $75.77 per share

- 2021-01: $68.05 per share

- 2021-02: $68.50 per share

- 2021-03: $75.33 per share

- 2021-04: $77.50 per share

- 2021-05: $82.00 per share

- 2021-06: $84.51 per share

- 2021-07: $87.37 per share

- 2021-08: $86.71 per share

- 2021-09: $86.72 per share

- 2021-10: $82.19 per share

- 2021-11: $70.74 per share

- 2021-12: $77.71 per share

- 2022-01: $75.22 per share

- 2022-02: $80.40 per share

- 2022-03: $82.85 per share

- 2022-04: $74.74 per share

- 2022-05: $74.84 per share

- 2022-06: $67.49 per share

- 2022-07: $61.98 per share

- 2022-08: $62.71 per share

- 2022-09: $62.75 per share

- 2022-10: $71.62 per share

- 2022-11: $79.87 per share

- 2022-12: $78.12 per share

- 2023-01: $87.80 per share

- 2023-02: $91.92 per share

- 2023-03: $95.19 per share

- 2023-04: $97.02 per share

- 2023-05: $100.61 per share

- 2023-06: $110.84 per share

- 2023-07: $113.25 per share

- 2023-08: $112.52 per share

- 2023-09: $109.15 per share

- 2023-10: $113.41 per share

- 2023-11: $126.89 per share

- 2023-12: $130.35 per share

- 2024-01: $135.54 per share

- 2024-02: $124.24 per share

- 2024-03: $130.27 per share

- 2024-04: $117.66 per share

- 2024-05: $114.62 per share

- 2024-06: $107.65 per share

- 2024-07: $110.25 per share

- 2024-08: $102.78 per share

- 2024-09: $98.71 per share

- 2024-10: $96.89 per share

- 2024-11: $89.39 per share

- 2024-12: $85.49 per share

- 2025-01: $85.32 per share

- 2025-02: $94.08 per share

- 2025-03: $97.58 per share

- 2025-04: $105.31 per share

- 2025-05: $106.53 per share

- 2025-06: $102.98 per share

- 2025-07: $90.46 per share

- 2025-08: $86.64 per share

- 2025-09: $98.63 per share

- 2025-10: $94.36 per share

- 2025-11: $95.94 per share

- 2025-12: $101.07 per share

- 2026-01: $104.36 per share

- 2026-02: $112.32 per share

- 2026-03: $111.06 per share

- 2026-04: $118.24 per share

- 2026-05: $119.03 per share

- 2026-06: $127.90 per share

- 2026-07: $127.99 per share

- 2026-08: $120.41 per share

- 2026-09: $118.56 per share

- 2026-10: $121.18 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/1061736/000162828026027231/fmx-20251231.htm); period 2025-12-31, filed 2026-04-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Matthew McLennan](https://gigainvestors.com/FE): 13,008,276 FMX shares; USD 1,663,759,000 reported position value; 2.74% of portfolio; add; quarter 2026 Q2.
- [Bill Nygren](https://gigainvestors.com/HA): 1,541,584 FMX shares; USD 197,169,000 reported position value; 0.26% of portfolio; reduce; quarter 2026 Q2.

# FMX — Fomento Economico Mexicano

Held by 2 investors · USD 1,860,928,000 total · 2026 Q2 · reported price USD 127.90 (split-adjusted).
Page: https://gigainvestors.com/s/FMX

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Matthew McLennan (https://gigainvestors.com/FE) | USD 1,663,759,000 | 2.7% | add +0.82% |
| Bill Nygren (https://gigainvestors.com/HA) | USD 197,169,000 | 0.3% | reduce -31.29% |

## Total held by quarter

- 2010 Q1: USD 1,591,920 · 1 holder · USD 47.52
- 2010 Q2: USD 3,646,175 · 1 holder · USD 43.15
- 2010 Q3: USD 4,336,147 · 1 holder · USD 50.73
- 2010 Q4: USD 17,202,390 · 2 holders · USD 55.92
- 2011 Q1: USD 18,094,275 · 2 holders · USD 58.70
- 2011 Q2: USD 21,546,084 · 2 holders · USD 66.49
- 2011 Q3: USD 20,879,754 · 2 holders · USD 64.82
- 2011 Q4: USD 22,798,237 · 2 holders · USD 69.71
- 2012 Q1: USD 26,962,676 · 2 holders · USD 82.27
- 2012 Q2: USD 29,444,378 · 2 holders · USD 89.25
- 2012 Q3: USD 29,951,907 · 2 holders · USD 91.98
- 2012 Q4: USD 32,925,879 · 2 holders · USD 100.70
- 2013 Q1: USD 37,340,933 · 2 holders · USD 113.50
- 2013 Q2: USD 11,412,298 · 1 holder · USD 103.19
- 2013 Q3: USD 11,477,980 · 1 holder · USD 97.09
- 2013 Q4: USD 10,731,935 · 1 holder · USD 97.87
- 2014 Q1: USD 10,330,992 · 1 holder · USD 93.24
- 2014 Q2: USD 10,353,944 · 1 holder · USD 93.65
- 2014 Q3: USD 10,074,412 · 1 holder · USD 92.05
- 2014 Q4: USD 9,484,352 · 1 holder · USD 88.03
- 2015 Q1: USD 10,074,158 · 1 holder · USD 93.50
- 2015 Q2: USD 11,317,548 · 1 holder · USD 89.09
- 2015 Q3: USD 10,586,389 · 1 holder · USD 89.25
- 2015 Q4: USD 11,176,197 · 1 holder · USD 92.35
- 2016 Q1: USD 11,698,776 · 1 holder · USD 96.31
- 2016 Q2: USD 11,444,250 · 1 holder · USD 92.49
- 2016 Q3: USD 11,474,167 · 1 holder · USD 92.04
- 2016 Q4: USD 9,711,440 · 1 holder · USD 76.21
- 2017 Q1: USD 11,355,346 · 1 holder · USD 88.52
- 2017 Q2: USD 13,163,792 · 1 holder · USD 98.34
- 2017 Q3: USD 12,779,526 · 1 holder · USD 95.53
- 2017 Q4: USD 12,924,396 · 1 holder · USD 93.90
- 2018 Q1: USD 12,655,466 · 1 holder · USD 91.43
- 2018 Q2: USD 14,395,541 · 1 holder · USD 87.79
- 2018 Q3: USD 16,072,926 · 1 holder · USD 98.97
- 2018 Q4: USD 13,165,220 · 1 holder · USD 86.05
- 2019 Q1: USD 12,654,726 · 1 holder · USD 92.28
- 2019 Q2: USD 12,787,157 · 1 holder · USD 96.75
- 2019 Q3: USD 11,960,806 · 1 holder · USD 91.58
- 2019 Q4: USD 10,083,083 · 1 holder · USD 94.51
- 2020 Q1: USD 106,600,044 · 2 holders · USD 60.51
- 2020 Q2: USD 259,035,356 · 2 holders · USD 62.01
- 2020 Q3: USD 319,173,978 · 2 holders · USD 56.19
- 2020 Q4: USD 457,731,240 · 2 holders · USD 75.77
- 2021 Q1: USD 514,633,598 · 2 holders · USD 75.33
- 2021 Q2: USD 578,441,963 · 2 holders · USD 84.51
- 2021 Q3: USD 584,373,861 · 2 holders · USD 86.73
- 2021 Q4: USD 559,356,222 · 2 holders · USD 77.71
- 2022 Q1: USD 598,730,622 · 2 holders · USD 82.88
- 2022 Q2: USD 566,082,174 · 2 holders · USD 67.51
- 2022 Q3: USD 680,347,094 · 2 holders · USD 62.75
- 2022 Q4: USD 859,622,272 · 2 holders · USD 78.15
- 2023 Q1: USD 1,047,310,199 · 2 holders · USD 95.22
- 2023 Q2: USD 1,216,671,683 · 2 holders · USD 110.84
- 2023 Q3: USD 1,186,147,122 · 2 holders · USD 109.15
- 2023 Q4: USD 1,300,857,971 · 2 holders · USD 130.35
- 2024 Q1: USD 1,264,047,912 · 2 holders · USD 130.28
- 2024 Q2: USD 1,031,967,150 · 2 holders · USD 107.74
- 2024 Q3: USD 1,037,289,785 · 2 holders · USD 98.71
- 2024 Q4: USD 1,082,234,610 · 2 holders · USD 85.49
- 2025 Q1: USD 1,234,181,222 · 2 holders · USD 97.70
- 2025 Q2: USD 1,288,923,490 · 2 holders · USD 103.03
- 2025 Q3: USD 1,500,935,468 · 3 holders · USD 98.63
- 2025 Q4: USD 1,537,469,866 · 2 holders · USD 101.07
- 2026 Q1: USD 1,682,100,655 · 2 holders · USD 111.06
- 2026 Q2: USD 1,860,928,000 · 2 holders · USD 127.90