FMX (Fomento Economico MexicanoB de CV) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

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FMX Fomento Economico Mexicano SAB de CV FMX
90 GF Score
Price $119.86
GF Value $132.77
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Fomento Economico MexicanoB de CV  (NYSE:FMX) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio Related Terms


Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fomento Economico MexicanoB de CV's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio Chart

Fomento Economico MexicanoB de CV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.86 0.83 1.35 0.87 1.01

Fomento Economico MexicanoB de CV Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.04 1.00 1.01 1.10 1.27

FMX vs STZ, TAP: Cyclically Adjusted PB Ratio Comparison

For the Beverages - Brewers subindustry, Fomento Economico MexicanoB de CV's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Fomento Economico MexicanoB de CV's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Fomento Economico MexicanoB de CV's Cyclically Adjusted PB Ratio falls into.


FMX
90GF Score
Fomento Economico Mexicano SAB de CV FMX
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Fomento Economico MexicanoB de CV Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Fomento Economico MexicanoB de CV's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Fomento Economico MexicanoB de CV's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=87.415/165.5700*165.5700
=87.415

Current CPI (Jun. 2026) = 165.5700.

Fomento Economico MexicanoB de CV Quarterly Data

Book Value per Share CPI Adj_Book
201609 64.039 103.084 102.857
201612 64.274 105.002 101.349
201703 67.679 108.063 103.695
201706 70.273 108.339 107.396
201709 79.808 109.628 120.534
201712 79.677 112.114 117.667
201803 79.218 113.505 115.556
201806 76.440 113.373 111.633
201809 79.904 115.130 114.911
201812 78.837 117.530 111.062
201903 76.724 118.050 107.609
201906 79.424 117.848 111.587
201909 78.965 118.581 110.255
201912 79.938 120.854 109.515
202003 68.606 121.885 93.195
202006 64.783 121.777 88.080
202009 66.935 123.341 89.852
202012 71.335 124.661 94.745
202103 67.805 127.574 88.000
202106 71.050 128.936 91.237
202109 130.742 0.000
202112 75.769 133.830 93.739
202203 77.635 137.082 93.769
202206 73.582 139.233 87.501
202209 76.049 142.116 88.600
202212 80.208 144.291 92.036
202303 92.547 146.472 104.614
202306 97.587 146.272 110.462
202309 100.085 148.446 111.630
202312 103.384 151.017 113.347
202403 96.703 152.947 104.684
202406 92.429 153.551 99.664
202409 89.053 155.246 94.975
202412 89.025 157.378 93.659
202503 93.305 158.761 97.307
202506 84.249 160.180 87.084
202509 88.305 161.030 90.795
202512 90.901 163.190 92.227
202603 81.739 166.040 81.508
202606 87.415 165.570 87.415

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Fomento Economico MexicanoB de CV (FMX) Overvalued in 2026?

Based on GuruFocus' analysis, Fomento Economico MexicanoB de CV stock appears to be undervalued. The current stock price of $119.86 is trading 9.7% below its estimated GF Value™ of $132.77. GuruFocus considers Fomento Economico MexicanoB de CV to be Modestly Undervalued.

Key valuation signals for FMX:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $132.77 vs. price of $119.86 (9.7% below fair value)
  • GF Score™: 90/100 with 4 warning signs

No single metric tells the full story. See the FMX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fomento Economico MexicanoB de CV Business Description

Address General Anaya No. 601 Pte., Colonia Bella Vista, Monterrey, NL, MEX, 64410
Mexico-based Femsa is a beverage and retail conglomerate in Central and South America. The holding company owns controlling stakes in bottler Coca-Cola Femsa (47% economic stake, 56% voting rights), in addition to operating 100%-owned retail assets, including convenience stores under the Oxxo banner, drugstores, and gas stations. The firm divested its 15% stake in Heineken and its distribution business in 2023. Coca-Cola Femsa and the Oxxo chain made up over 70% of total company revenue and over 90% of profits in 2025.
90GF Score

Get the complete analysis for FMX

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$119.86
Price
$132.77
GF Value