Fomento Económico Mexicano, S.A.B. de C.V.

FOMC.F · Consumer Defensive · Beverages - Brewers · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

47.89B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

19.30B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

32.09B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

33.09B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

39.16B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.84×

the ratio the screener ranks by

Margin of Safety

-18.3%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 47.89B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)55.70B USD
−②Net Debt Today7.82B USD
+③Growth Value0 USD
=Value47.89B USD

EPV of the Operations (NOPAT over WACC)

55.70B USD

Net debt today

-7.82B USD

Growth Value

0 USD

Value

47.89B USD

①EPV (Earnings Power Value)

55.70B USD

②Net Debt Today

7.82B USD

③Growth Value

0 USD

Market value

Market Cap39.16B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+18.2%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 19.30B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE11.81B USD
+②Equity at Year 15, Today7.49B USD
=Value19.30B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

11.81B USD

②Equity at Year 15, Today

7.49B USD

Market value

Market Cap39.16B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-102.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 32.09B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF20.22B USD
+②Invested Capital at Year 15, Today19.69B USD
−③Net Debt Today7.82B USD
=Value32.09B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

20.22B USD

②Invested Capital at Year 15, Today

19.69B USD

③Net Debt Today

7.82B USD

Market value

Market Cap39.16B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-22.0%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 5.23%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.17×Market Risk Premium 6.00%= 5.53%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.11B USDPretax Income 2.94B USD= 37.59%

The tax the interest saves.

Interest Expense =EBIT 3.97B USD−Pretax Income 2.94B USD= 1.03B USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.03B USDTotal Debt 14.50B USD×(1 − Tax Rate for WACC 37.59%)= 4.41%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 14.50B USDMarket Cap + Total Debt 39.16B USD + 14.50B USD= 27.02%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 72.98%×Cost of Equity 5.53%+Debt Weight 27.02%×Cost of Debt 4.41%= 5.23%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 45.98B USD − Total Liabilities 28.74B USD = Book Value Today 17.24B USD

Total Debt 14.50B USD − Cash and Short-Term Investments 6.68B USD = Net Debt Today 7.82B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-4.8%at most 5%passes3,406,814,675 / 3,578,226,270
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets6.3%at least -10.0%passes(3.96B USD − 1.08B USD) ÷ 45.98B USD
Price to bookMarket Cap ÷ Book Value Today2.27×at most 3×passes39.16B USD ÷ 17.24B USD
Operating marginOperating Income ÷ Revenue8.6%above 10.0%does not pass4.02B USD ÷ 46.82B USD
Revenue growthRevenue ÷ Revenue a Year Before − 123.5%above 10.0%passes46.82B USD / 37.92B USD
Net cash(Cash − Total Debt) ÷ Market Cap-21.7%above -30%passes(6.01B USD − 14.50B USD) ÷ 39.16B USD
Operating efficiencyOperating Income ÷ Gross Profit21.1%above 25.0%does not pass4.02B USD ÷ 19.02B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

10.01 EUR

Enterprise value

253.76B EUR

the provider's own figure

EV / EBITDA

2.46×

Price / book

3.16×

the provider's book

Price / earnings

25.64×

Return on equity

14.8%

the provider's figure, not this page's

Profit margin

3.6%

Revenue growth

9.3%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

30.71B41.50B37.92B46.82B

Gross profit

12.42B16.51B15.60B19.02B

Operating income

3.27B3.39B3.42B4.02B

EBITDA

operating income before depreciation and amortisation

4.71B6.44B5.99B6.42B

Pretax income

2.39B3.41B3.23B2.94B

Net income

1.23B3.88B1.30B1.08B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

1.36B1.93B1.19B1.25B

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

41.10B47.59B41.31B44.31B

Total liabilities

23.72B25.24B22.82B25.97B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

13.51B17.94B14.43B13.64B

Total debt

14.66B13.75B12.43B14.34B

Cash and equivalents

4.29B9.75B6.78B6.01B

Net PP&E

fixed assets after depreciation

11.26B13.64B13.45B16.18B

Working capital

current assets less current liabilities

2.55B10.26B6.76B4.07B
Cash flow (USD)2022202320242025

Operating cash flow

3.73B2.93B3.47B3.96B

Capital expenditure

paid out, so below zero

-1.62B-2.25B-2.30B-2.34B

Depreciation and amortisation

1.57B2.01B1.91B2.46B

Free cash flow

operating cash flow plus capital expenditure

2.11B682.58M1.17B1.62B