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Coca-Cola FEMSA, S.A.B. de C.V. (KOF) MXN

Coca-Cola FEMSA (KOF) is one of the world’s largest Coca-Cola bottlers, producing and distributing beverages across Mexico and Latin America.

At a glance: strengths & risks
✓Net cash balance sheet✗Profit falling (-16% y/y, Q1 2026)

Sector: Beverages (bottler)

MX_KOF

Price chart

187.23 MXNDay 0.04%

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
187.23 MXN · 0.04%
Market cap
393.3 bn MXN

Growth

Δ revenue y/y
1.1%
Δ EBITDA y/y
0.9%

Multiples

P/E (LTM)
16.5x
3y avg: 15.6x
P/B (FY)
2.7x
P/E (ann.)
22.6x
EV/EBITDA (LTM)
—
3y avg: 7.9x
EV/EBITDA (ann.)
8.2x

Cash return

Dividend yield
4.0%
FCF yield (LTM)
-1.6%

Value creation

fundamental value/yr, % of market cap
Value created / year
+0.9%
↓ details

Liquidity

Daily turnover (listing)
44.3 mln MXN

Shares: yahoo_fundamentals_timeseries/KOFUBL.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 T MXN, 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.

DatePeriodStatusRevenueT MXNOperating profitT MXND&AT MXNEBITDAT MXNNet profitT MXNOperating CFT MXNCapex + M&AT MXNAssetsT MXNEquityT MXNROE (annualized)Net debtT MXNSource
2026-03-31Q1 2026 (3M)PARTIAL0.1
y/y 1.1%
0.0
y/y -2.3%
0.0
y/y 8.4%
0.0
y/y 0.9%
0.0
y/y -15.5%
—0.00.3
y/y 6.7%
0.1
y/y -8.0%
11.5%0.0Report (PDF)
2025-12-31Q4 2025 (3M)PARTIAL5903.0
y/y 7775189.8%
—
y/y —
2790.0
y/y 322543452.6%
—
y/y —
-16343.0
y/y -224368251.5%
——307986.0
y/y —
0.2
y/y 7.4%
—0.0Report (PDF)
2025-09-30Q3 2025 (3M)PARTIAL69398.9
y/y —
—
y/y —
7098.0
y/y —
—
y/y —
16343.0
y/y —
——307986.0
y/y —
—
y/y —
—0.0Report (PDF)
2025-06-30Q2 2025 (3M)OK0.1
y/y 7.0%
0.0
y/y 3.5%
0.0
y/y -52.2%
0.0
y/y -12.8%
0.0
y/y -1.4%
——0.3
y/y 9.0%
0.1
y/y 7.3%
13.7%0.0Report (PDF)
2025-03-31Q1 2025 (3M)OK0.1
y/y 10.0%
0.0
y/y 7.3%
0.0
y/y 20.4%
0.0
y/y 11.0%
0.0
y/y 2.7%
——0.3
y/y 12.2%
0.2
y/y 26.9%
13.6%0.0Report (PDF)
2024-12-31Q4 2024 (3M)OK0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
—0.00.3
y/y 12.6%
0.1
y/y 12.9%
16.3%0.0Link
2024-09-30Q3 2024 (3M)OK0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
——0.3
y/y —
0.1
y/y —
15.5%0.0Report (PDF)
2024-06-30Q2 2024 (3M)OK0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
——0.3
y/y —
0.1
y/y —
16.3%0.0Report (PDF)
2024-03-31Q1 2024 (3M)OK0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
——0.3
y/y —
0.1
y/y —
15.8%0.0Report (PDF)
2023-12-31FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——0.3
y/y —
0.1
y/y —
15.2%0.0Report (PDF)
2023-09-30Q3 2023 (3M)PARTIAL0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
——0.3
y/y —
0.1
y/y —
5.6%0.0Report (PDF)
2023-06-30Q2 2023 (3M)OK0.1
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
0.0
y/y —
——0.3
y/y —
0.1
y/y —
—0.0Report (PDF)

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

Short-term debt (incl. ST leases)5 827
Long-term debt (incl. LT leases)85 090
− Cash & equivalents41 346
Net debt49 571

Net debt / LTM EBITDA: 1.0x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

020 000 000 00040 000 000 00060 000 000 0002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-50%-25%0%25%50%75%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

Net debt / cash ($ mln)

-40 000-20 000020 00040 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Profit and cash

Worth a look
In a typical year of 2023–2025 operating cash flow came to 1.98x of reported net profit; after capex, 0.97x.
year20232024
cash flow / profit2.17x1.79x
accruals, % of assets-8.3%-6.1%
net debt / EBITDA 0.0x · capex 0.0x of depreciation
● Capex is 0% of depreciation - the asset base is being consumed faster than replaced.
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.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

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

Value created per year: +1.0%

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)
= (13 374 − 13 255) × 3.77
448
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (393 339 + 49 571) ÷ 50 403
8.8x
3. Target multiple
(Current EV/EBITDA + 9) ÷ 2
= (8.8 + 9) ÷ 2
8.9x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -169 + 0 + 0 − 0
-169
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (448 × 8.9 + -169) ÷ 393 339
+1.0%

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

Caveats:

  • FCF unavailable — treated as 0
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-07-131.935 MXNEx-dividend: 1.935 MXN per sharePaidYahoo Finance (ex-div)
2026-04-201.935 MXNEx-dividend: 1.935 MXN per sharePaidYahoo Finance (ex-div)
2025-12-081.84 MXNEx-dividend: 1.84 MXN per sharePaidYahoo Finance (ex-div)
2025-10-141.84 MXNEx-dividend: 1.84 MXN per sharePaidYahoo Finance (ex-div)
2025-07-151.84 MXNEx-dividend: 1.84 MXN per sharePaidYahoo Finance (ex-div)
2025-04-221.84 MXNEx-dividend: 1.84 MXN per sharePaidYahoo Finance (ex-div)
2024-04-123.04 MXNEx-dividend: 3.04 MXN per sharePaidYahoo Finance (ex-div)
2023-10-312.9 MXNEx-dividend: 2.9 MXN per sharePaidYahoo Finance (ex-div)
2023-04-283.2625 MXNEx-dividend: 3.2625 MXN per sharePaidYahoo Finance (ex-div)
2022-04-295.43 MXNEx-dividend: 5.43 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://investors.coca-colafemsa.com/en/financial-information/quarterly-reports/

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 Coca-Cola FEMSA, S.A.B. de C.V. (KOF) — from primary filings.

Frequently asked questions

What is Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s P/E ratio?
Coca-Cola FEMSA, S.A.B. de C.V. (KOF) trades at a P/E of 16.5x (price to trailing 12-month earnings).
What is Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s P/B ratio?
Coca-Cola FEMSA, S.A.B. de C.V. (KOF) trades at a P/B of 2.7x.
What is Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s dividend yield?
Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s trailing 12-month dividend yield is 4.0%.
What is Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s return on equity (ROE)?
Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s ROE is 11.5%.
What is Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s market capitalization?
Coca-Cola FEMSA, S.A.B. de C.V. (KOF)'s market cap is 393.3 bn MXN.

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