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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
MEX:FEMSAUB's Price-to-Net-Net-Working-Capital is not ranked *
in the Beverages - Alcoholic industry.
Industry Median: 7.84 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Fomento Economico MexicanoB de CV (MEX:FEMSAUB) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Fomento Economico MexicanoB de CV Net-Net Working Capital Related Terms
Fomento Economico MexicanoB de CV Net-Net Working Capital Historical Data
* 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 Net-Net Working Capital Chart
MEX:FEMSAUB vs STZ, TAP: Net-Net Working Capital Comparison
For the Beverages - Brewers subindustry, Fomento Economico MexicanoB de CV's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Fomento Economico MexicanoB de CV's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Fomento Economico MexicanoB de CV's Price-to-Net-Net-Working-Capital falls into.
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of MXN-88.69 mean?
Fomento Economico MexicanoB de CV (MEX:FEMSAUB) has a Net-Net Working Capital of MXN-88.69 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Fomento Economico MexicanoB de CV According to the industry distribution chart, Fomento Economico MexicanoB de CV ranks #999999 out of 67 companies in the Beverages - Alcoholic industry.
Is Fomento Economico MexicanoB de CV's Net-Net Working Capital too high?
Fomento Economico MexicanoB de CV's current Net-Net Working Capital is MXN-88.69. Based on the distribution chart, Fomento Economico MexicanoB de CV ranks #999999 out of 67 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Fomento Economico MexicanoB de CV has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fomento Economico MexicanoB de CV's Net-Net Working Capital compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Fomento Economico MexicanoB de CV ranks #999999 out of 67 companies for Net-Net Working Capital. This places Fomento Economico MexicanoB de CV in the lower half of its industry. The industry median Net-Net Working Capital is 7.84. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Beverages - Alcoholic company?
The median Net-Net Working Capital among Beverages - Alcoholic companies is 7.84, based on 67 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Fomento Economico MexicanoB de CV For the Beverages - Alcoholic industry, the median Net-Net Working Capital is 7.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fomento Economico MexicanoB de CV's current Net-Net Working Capital is MXN-88.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fomento Economico MexicanoB de CV stock overvalued right now?
Based on GuruFocus' analysis, Fomento Economico MexicanoB de CV (MEX:FEMSAUB) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN210.92, compared to a current price of MXN167.00 — trading 20.8% below its estimated fair value. The current Net-Net Working Capital is MXN-88.69. Fomento Economico MexicanoB de CV's overall GF Score™ is 90/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Fomento Economico MexicanoB de CV (MEX:FEMSAUB), the current Net-Net Working Capital is MXN-88.69 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Fomento Economico MexicanoB de CV (MEX:FEMSAUB) Overvalued in 2026?
Based on GuruFocus' analysis, Fomento Economico MexicanoB de CV stock appears to be undervalued.
The current stock price of MXN167.00 is trading 20.8% below its estimated GF Value™ of MXN210.92.
GuruFocus considers Fomento Economico MexicanoB de CV to be Modestly Undervalued.
Key valuation signals for MEX:FEMSAUB:
Net-Net Working Capital: MXN-88.69
GF Value™: MXN210.92 vs. price of MXN167.00 (20.8% below fair value)
No single metric tells the full story. See the MEX:FEMSAUB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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
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Net-Net Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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