Financials Bolsa Mexicana de Valores, S.A.B. de C.V.

Equities

BOLSA A

MX01BM1B0000

Financial & Commodity Market Operators

End-of-day quote Mexican S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
33.35 MXN -0.27% Intraday chart for Bolsa Mexicana de Valores, S.A.B. de C.V. -0.66% -5.09%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 19,859 24,514 27,965 22,897 21,769 18,987 18,987 -
Enterprise Value (EV) 1 17,144 21,591 24,524 19,452 21,769 20,030 15,343 14,917
P/E ratio 14.4 x 18.3 x 18.7 x 13.4 x 13.1 x 13.3 x 11.8 x 11.4 x
Yield 5.32% 4.38% 4.28% 5.55% - 6.89% 6.3% 6.88%
Capitalization / Revenue 5.6 x 6.85 x 7.14 x 5.83 x 5.31 x 5.09 x 4.62 x 4.37 x
EV / Revenue 4.83 x 6.04 x 6.27 x 4.96 x 5.31 x 5.09 x 3.73 x 3.43 x
EV / EBITDA 8.8 x 10.3 x 10.3 x 8.07 x 8.7 x 9.15 x 6.66 x 5.99 x
EV / FCF 11.3 x 13.8 x 13.2 x 11.3 x - 41.6 x 18.2 x 13.1 x
FCF Yield 8.85% 7.24% 7.56% 8.83% - 2.4% 5.5% 7.65%
Price to Book 3.01 x 3.6 x 3.85 x 2.96 x - 2.56 x 2.53 x 2.43 x
Nbr of stocks (in thousands) 592,989 592,989 592,989 588,303 578,656 569,312 569,312 -
Reference price 2 33.49 41.34 47.16 38.92 37.62 33.35 33.35 33.35
Announcement Date 2/19/19 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 3,548 3,577 3,914 3,924 4,100 3,931 4,111 4,347
EBITDA 1 1,948 2,105 2,376 2,409 2,503 2,188 2,304 2,489
EBIT 1 1,865 1,914 2,168 2,184 2,283 2,035 2,070 2,268
Operating Margin 52.56% 53.52% 55.39% 55.65% 55.7% 51.77% 50.36% 52.17%
Earnings before Tax (EBT) 1 2,062 2,058 2,294 2,334 2,538 2,427 2,483 2,499
Net income 1 1,376 1,338 1,493 1,597 1,662 1,508 1,604 1,658
Net margin 38.78% 37.41% 38.15% 40.7% 40.53% 38.37% 39.03% 38.15%
EPS 2 2.320 2.260 2.520 2.900 2.870 2.650 2.815 2.932
Free Cash Flow 1 1,517 1,563 1,854 1,717 - 370 844 1,140
FCF margin 42.74% 43.69% 47.38% 43.76% - 9.56% 20.53% 26.23%
FCF Conversion (EBITDA) 77.85% 74.24% 78.05% 71.29% - 16.92% 36.64% 45.83%
FCF Conversion (Net income) 110.23% 116.78% 124.21% 107.53% - 25.08% 52.61% 68.77%
Dividend per Share 2 1.780 1.810 2.020 2.160 - 2.299 2.100 2.294
Announcement Date 2/19/19 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 965.5 926.4 1,050 1,150 997.3 978.8 973.2 1,034 945.6 933.4 1,018 992.2 975.2 1,029 1,074
EBITDA 1 583.6 541.2 702 756.7 606.9 571.3 568 619.6 521.3 511.9 536 566.8 565.6 584.8 626
EBIT 1 526.7 481.5 643 700.9 550.6 517 515 563.3 462.2 458.1 535.5 496.3 489.3 530.4 561.1
Operating Margin 54.55% 51.98% 61.27% 60.93% 55.21% 52.82% 52.92% 54.47% 48.87% 49.08% 52.58% 50.02% 50.17% 51.56% 52.24%
Earnings before Tax (EBT) 1 548.6 522.8 688.2 726.1 639.2 600.5 572.4 654.2 572.6 559.4 633.7 603 - - -
Net income 1 351.7 368.1 498.1 478.7 403.9 400 379.1 414.9 355.8 329.5 408.2 376.9 381.5 410 432.8
Net margin 36.43% 39.73% 47.46% 41.62% 40.5% 40.87% 38.95% 40.12% 37.63% 35.3% 40.09% 37.99% 39.12% 39.86% 40.3%
EPS 2 0.5900 0.6200 0.9000 0.8200 0.6900 0.6900 0.6600 0.7200 0.6200 0.5700 0.7200 0.6239 0.6700 0.7200 0.7600
Dividend per Share 2 2.020 - 2.160 - - - - - - - - 0.1867 0.9060 0.2100 0.2200
Announcement Date 7/20/21 10/19/21 2/15/22 4/19/22 7/19/22 10/18/22 2/15/23 4/18/23 7/18/23 10/17/23 2/13/24 - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - - - - -
Net Cash position 1 2,715 2,923 3,441 3,444 - 3,596 3,643 4,070
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,517 1,563 1,854 1,717 - 370 844 1,141
ROE (net income / shareholders' equity) 21.6% 20.1% 21.7% 21.7% - 20.2% 20.8% 21.2%
ROA (Net income/ Total Assets) 18.5% 17.7% 18.3% 18.8% - 16.6% 17.3% 17.9%
Assets 1 7,439 7,581 8,140 8,512 - 8,896 9,248 9,272
Book Value Per Share 2 11.10 11.50 12.20 13.10 - 13.00 13.20 13.80
Cash Flow per Share 2 2.720 2.780 3.190 3.050 - 2.780 3.440 3.760
Capex 1 94.7 84 40 79 - 135 120 121
Capex / Sales 2.67% 2.35% 1.02% 2.01% - 3.48% 2.91% 2.79%
Announcement Date 2/19/19 2/18/20 2/16/21 2/15/22 2/15/23 2/13/24 - -
1MXN in Million2MXN
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
33.35 MXN
Average target price
39.6 MXN
Spread / Average Target
+18.74%
Consensus
  1. Stock Market
  2. Equities
  3. BOLSA A Stock
  4. Financials Bolsa Mexicana de Valores, S.A.B. de C.V.