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Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX) USD

At a glance: strengths & risks
✓Revenue growing (+6%)✓Low leverage (0.5x EBITDA)✓Cheaper than own history (EV/EBITDA 8.0 vs avg 11.8)

Sector: Retail

MX_WALMEX

Price chart

46.79 MXNDay 0.56%

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
46.79 MXN · 0.56%
Market cap
48.0 bn USD

Growth

Δ revenue y/y
14.4%
Δ EBITDA y/y
12.9%

Multiples

P/E (LTM)
17.3x
3y avg: 22.1x
P/B (FY)
3.7x
P/E (ann.)
18.7x
EV/EBITDA (LTM)
8.0x
3y avg: 11.8x
EV/EBITDA (ann.)
8.5x

Cash return

Dividend yield
3.6%
FCF yield (LTM)
-119.2%

Value creation

fundamental value/yr, % of market cap
Value created / year
+12.2%
↓ details

Liquidity

Daily turnover (listing)
630 mln MXN

Shares: yahoo_fundamentals_timeseries/WALMEX.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 B 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.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK14.4
y/y 14.4%
1.0
y/y 10.6%
0.4
y/y 19.3%
1.4
y/y 12.9%
0.6
y/y 11.5%
1.1-9.329.0
y/y 13.5%
13.7
y/y 18.3%
18.5%-1.7Link
2026-03-31Q1 2026 (3M)OK13.8
y/y 16.7%
1.0
y/y 12.3%
0.4
y/y 20.4%
1.4
y/y 14.3%
0.7
y/y 16.5%
0.3-2.427.6
y/y 17.3%
14.0
y/y 17.5%
20.8%3.0Report (PDF)
2025-12-31Q4 2025 (3M)OK15.5
y/y 13.6%
1.3
y/y 19.7%
0.3
y/y -50.9%
1.6
y/y -8.3%
0.8
y/y 6.0%
2.4-39.027.6
y/y 15.7%
13.1
y/y 16.8%
20.6%2.9Link
2025-09-30Q3 2025 (3M)OK13.0
y/y 6.1%
1.0
y/y 2.8%
0.3
y/y 10.2%
1.4
y/y 4.5%
0.6
y/y -8.1%
1.2-11.727.1
y/y 9.2%
12.2
y/y 12.3%
7.1%-1.9Link
2025-06-30Q2 2025 (3M)OK12.6
y/y -3.9%
0.9
y/y -14.8%
0.3
y/y -0.5%
1.2
y/y -11.5%
0.6
y/y -20.4%
1.1-8.025.5
y/y 2.0%
11.5
y/y 9.0%
19.6%2.5Link
2025-03-31Q1 2025 (3M)PARTIAL11.8
y/y -12.0%
0.9
y/y -18.6%
0.3
y/y -6.0%
1.2
y/y -15.8%
0.6
y/y -22.8%
0.2-3.423.5
y/y -11.1%
11.9
y/y -7.0%
20.9%2.7Report (PDF)
2024-12-31Q4 2024 (3M)OK13.7
y/y —
1.1
y/y 1483.7%
0.7
y/y -40.6%
1.8
y/y 41.7%
0.8
y/y 558.7%
1.9-34.823.8
y/y -7.6%
11.2
y/y -4.5%
26.8%-1.1Link
2024-09-30Q3 2024 (3M)OK12.2
y/y -1.9%
1.0
y/y -14.6%
0.3
y/y —
1.3
y/y 11.6%
0.7
y/y -20.8%
0.6-11.124.8
y/y 9.2%
10.8
y/y 12.6%
8.6%-2.5Link
2024-06-30Q2 2024 (3M)OK13.1
y/y -45.1%
1.0
y/y -46.6%
0.3
y/y -43.7%
1.4
y/y -46.0%
0.7
y/y -44.8%
0.7-7.725.0
y/y 3.6%
10.6
y/y 5.8%
24.6%1.5Link
2024-03-31Q1 2024 (3M)PARTIAL13.4
y/y 18.2%
1.1
y/y 19.3%
0.3
y/y —
1.5
y/y 53.3%
0.8
y/y 25.5%
0.5-3.226.5
y/y 37.1%
12.8
y/y 76.7%
25.5%1.9Report (PDF)
2023-12-31FY 2023 (12M)OK—
y/y —
0.1
y/y —
1.2
y/y —
1.3
y/y —
0.1
y/y —
3.3-1.725.8
y/y —
11.7
y/y —
27.1%2.0Link
2023-09-30Q3 2023 (3M)OK12.5
y/y —
1.2
y/y —
0.0
y/y —
1.2
y/y —
0.9
y/y —
0.0-8.822.7
y/y —
9.6
y/y —
11.8%-2.9Report (PDF)
2023-06-30Q2 2023 (3M)PARTIAL23.9
y/y —
1.9
y/y —
0.6
y/y —
2.5
y/y —
1.3
y/y —
1.6—24.2
y/y —
10.0
y/y —
60.5%1.7Report (PDF)
2023-03-31Q1 2023 (3M)OK11.4
y/y —
1.0
y/y —
0.0
y/y —
1.0
y/y —
0.6
y/y —
0.0—19.3
y/y —
7.3
y/y —
—-2.6Report (PDF)

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)0
− Cash & equivalents1 723
Net debt-1 723

Net debt / LTM EBITDA: -0.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05 00010 00015 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-100%-50%0%50%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

01 0002 0003 0004 0005 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-4 000-2 00002 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 1.65x of reported net profit; after capex, 0.41x.
year202320242025
cash flow / profit1.65x1.35x1.65x
accruals, % of assets-7.7%-3.8%-6.6%
Last twelve months (to 2026-06-30): 2.68x of profit came back as operating cash flow.
net debt / EBITDA 0.5x · capex 2.2x 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: +11.7%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (1 358 − 1 203) × 4.23
658
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (47 998 + -1 723) ÷ 5 750
8.0x
3. Target multiple
(Current EV/EBITDA + 9) ÷ 2
= (8.0 + 9) ÷ 2
8.5x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 4 182 + 0 + 0 − 0
0
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (658 × 8.5 + 0) ÷ 47 998
+11.7%

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)

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +6% vs +8% the year before — a -2.7 pp move. 3-year CAGR —.
revenue growth by year: 2024 +8% · 2025 +6%
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
2025-12-160.85 MXNEx-dividend: 0.85 MXN per sharePaidYahoo Finance (ex-div)
2025-11-180.84 MXNEx-dividend: 0.84 MXN per sharePaidYahoo Finance (ex-div)
2024-11-112.17 MXNEx-dividend: 2.17 MXN per sharePaidYahoo Finance (ex-div)
2023-11-271.12 MXNEx-dividend: 1.12 MXN per sharePaidYahoo Finance (ex-div)
2023-04-050.82 MXNEx-dividend: 0.82 MXN per sharePaidYahoo Finance (ex-div)
2022-11-171.71 MXNEx-dividend: 1.71 MXN per sharePaidYahoo Finance (ex-div)
2021-12-240.82 MXNEx-dividend: 0.82 MXN per sharePaidYahoo Finance (ex-div)
2021-11-220.81 MXNEx-dividend: 0.81 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.walmex.mx/en/financial-information/

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 Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX) — from primary filings.

Walmart de México y Centroamérica operates Walmart, Bodega Aurrera and related retail formats in Mexico and Central America.

Frequently asked questions

What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s P/E ratio?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX) trades at a P/E of 17.3x (price to trailing 12-month earnings).
What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s EV/EBITDA?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX) trades at 8.0x EV/EBITDA.
What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s P/B ratio?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX) trades at a P/B of 3.7x.
What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s dividend yield?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s trailing 12-month dividend yield is 3.6%.
What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s return on equity (ROE)?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s ROE is 18.5%.
What is Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s market capitalization?
Walmart de México y Centroamérica, S.A.B. de C.V. (WALMEX)'s market cap is 48.0 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