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Alsea USD

At a glance: strengths & risks
✓Revenue growing (+7%)✓Profit growing (+225%)✗Margins compressing (22%→19%)

Sector: Restaurants

MX_ALSEA

Price chart

41.18 MXNDay 2.29%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
41.18 MXN · 2.29%
Market cap
2.0 bn USD

Growth

Δ revenue y/y
15.2%
Δ EBITDA y/y
54.3%

Multiples

P/E (LTM)
15.6x
3y avg: 28.9x
P/B (FY)
4.0x
P/E (ann.)
97.0x
EV/EBITDA (LTM)
4.2x
3y avg: 4.4x
EV/EBITDA (ann.)
4.1x

Cash return

Dividend yield
3.7%
FCF yield (LTM)
-227.1%

Value creation

fundamental value/yr, % of market cap
Value created / year
+269.5%
↓ details

Liquidity

Daily turnover (listing)
18.8 mln MXN

Shares: yahoo_fundamentals_timeseries/ALSEA.MX

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK1132.0
y/y 15.2%
92.2
y/y 18.8%
126.0
y/y 97.5%
218.2
y/y 54.3%
5.0
y/y -54.9%
128.8-752.94419.6
y/y 10.4%
497.5
y/y 14.1%
4.1%1649.4Link
2025-12-31Q4 2025 (3M)OK1209.6
y/y 16.9%
147.7
y/y 11.8%
138.2
y/y 12.4%
285.8
y/y 12.1%
35.7
y/y 232.3%
547.3-2003.34467.7
y/y 12.6%
486.8
y/y 8.8%
27.2%1574.2Link
2025-09-30Q3 2025 (3M)OK1132.0
y/y 2.6%
95.7
y/y -5.5%
73.4
y/y -38.6%
169.1
y/y -23.4%
27.6
y/y 6809.2%
199.6-1208.14445.5
y/y 2.8%
472.7
y/y 21.8%
8.0%-254.0Report (PDF)
2025-06-30Q2 2025 (3M)OK1099.2
y/y -1.1%
109.5
y/y -2.3%
68.0
y/y -42.5%
177.4
y/y -23.0%
56.7
y/y 601.7%
191.4-1250.54365.4
y/y 1.8%
445.6
y/y 14.8%
51.5%1590.0Report (PDF)
2025-03-31Q1 2025 (3M)OK982.7
y/y -9.1%
77.6
y/y -26.7%
63.8
y/y -45.0%
141.4
y/y -36.3%
11.2
y/y -53.5%
49.9-1037.14001.8
y/y -10.5%
436.1
y/y 9.6%
10.1%2380.3Report (PDF)
2024-12-31Q4 2024 (3M)ERR1034.9
y/y —
132.0
y/y —
123.0
y/y —
255.0
y/y —
10.7
y/y —
336.8-2496.03968.7
y/y -13.2%
447.3
y/y -12.4%
10.1%1135.1Link
2024-09-30Q3 2024 (3M)OK1103.7
y/y -2.9%
101.3
y/y -10.1%
119.6
y/y 2.4%
220.9
y/y -3.7%
-7.7
y/y -98.6%
171.1-1659.14325.2
y/y 3.2%
388.1
y/y -23.1%
0.1%24951.9Link
2024-06-30Q2 2024 (3M)OK1111.1
y/y 3.0%
112.1
y/y 12.9%
118.3
y/y -0.7%
230.4
y/y 5.4%
-15.9
y/y -63.8%
157.4-1393.84288.5
y/y 1.2%
388.1
y/y -20.7%
8.2%22254.2Link
2024-03-31Q1 2024 (3M)OK1081.1
y/y —
105.9
y/y —
116.0
y/y —
221.8
y/y —
24.0
y/y —
94.4-890.74470.4
y/y —
397.8
y/y —
21.1%19516.2Link
2023-12-31FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——4570.0
y/y —
510.9
y/y —
33.0%1060.7Link
2023-09-30Q3 2023 (3M)OK1136.5
y/y —
112.7
y/y —
116.8
y/y —
229.5
y/y —
28.9
y/y —
173.6-1260.94191.2
y/y —
504.6
y/y —
7.7%19406.6Link
2023-06-30Q2 2023 (3M)OK1078.2
y/y —
99.3
y/y —
119.2
y/y —
218.5
y/y —
22.4
y/y —
156.4-893.74237.8
y/y —
489.6
y/y —
—17870.3Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)230
Long-term debt (incl. LT leases)1 711
− Cash & equivalents291
Net debt1 649

Net debt / LTM EBITDA: 1.9x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02505007501 0001 2502023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-50%-25%0%25%50%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-20002004006002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-10 000010 00020 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 7.38x of reported net profit; after capex, 5.18x.
year202320242025
cash flow / profit5.18x18.62x7.38x
accruals, % of assets-16.1%-16.4%-19.8%
Last twelve months (to 2026-03-31): 8.35x of profit came back as operating cash flow.
net debt / EBITDA 1.7x · capex 0.7x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +269.1%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-31 vs 2025-03-31)
= (218 − 141) × 3.90
-166
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (1 951 + 1 649) ÷ 851
4.2x
3. Target multiple
(Current EV/EBITDA + 9) ÷ 2
= (4.2 + 9) ÷ 2
6.6x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 731 + 0 + 6 350 − 0
6 350
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-166 × 6.6 + 6 350) ÷ 1 951
+269.1%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • net-cash rise stripped: net debt fell while EBITDA declined and no share dilution measured (likely equity raise / recapitalisation)
  • EBITDA growth from 3-yr FY trend, min of avg & latest YoY (anomalous latest-period delta)

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +7% vs +6% the year before — a +1.4 pp move. 3-year CAGR —.
revenue growth by year: 2024 +6% · 2025 +7%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-061 MXNEx-dividend: 1 MXN per sharePaidYahoo Finance (ex-div)
2025-10-130.5342 MXNEx-dividend: 0.5342 MXN per sharePaidYahoo Finance (ex-div)
2024-05-101.2 MXNEx-dividend: 1.2 MXN per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.alsea.net/inversionistas/centro-de-reportes/reportes-trimestrales.html

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Alsea — from primary filings.

Alsea operates quick-service and casual dining brands (e.g. Starbucks, Domino’s, Burger King) as franchisee and owner across Mexico and LatAm.

Frequently asked questions

What is Alsea's P/E ratio?
Alsea trades at a P/E of 15.6x (price to trailing 12-month earnings).
What is Alsea's EV/EBITDA?
Alsea trades at 4.2x EV/EBITDA.
What is Alsea's P/B ratio?
Alsea trades at a P/B of 4.0x.
What is Alsea's dividend yield?
Alsea's trailing 12-month dividend yield is 3.7%.
What is Alsea's return on equity (ROE)?
Alsea's ROE is 4.1%.
What is Alsea's market capitalization?
Alsea's market cap is 2.0 bn USD.

See also: Mexican Stocks (2026): Quality Value and the Nearshoring Trade · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map