Financials La Comer, S.A.B. de C.V.

Equities

LACOMER UBC

MX01LA050010

Food Retail & Distribution

End-of-day quote Mexican S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
37.43 MXN +0.84% Intraday chart for La Comer, S.A.B. de C.V. +6.15% -14.35%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 25,402 49,283 39,976 41,442 47,458 40,649 - -
Enterprise Value (EV) 1 23,010 47,427 37,440 39,364 45,140 37,862 38,346 38,088
P/E ratio 24.9 x 33.6 x 25.9 x 21.2 x 22.5 x 20.5 x 14.6 x 12.7 x
Yield - 0.88% 0.52% - 0.53% 0.59% 0.68% 0.69%
Capitalization / Revenue 1.18 x 1.82 x 1.38 x 1.24 x 1.23 x 0.94 x 0.83 x 0.73 x
EV / Revenue 1.07 x 1.76 x 1.3 x 1.18 x 1.17 x 0.87 x 0.79 x 0.68 x
EV / EBITDA 11.6 x 17.3 x 12.9 x 11.3 x 11 x 8.21 x 7.21 x 6.24 x
EV / FCF -172 x 35.1 x -329 x -299 x 80.6 x 49 x 64.4 x 40.6 x
FCF Yield -0.58% 2.85% -0.3% -0.33% 1.24% 2.04% 1.55% 2.46%
Price to Book 1.11 x 2.04 x 1.57 x 1.52 x 1.64 x 1.28 x 1.17 x 1.09 x
Nbr of stocks (in thousands) 1,086,000 1,086,000 1,086,000 1,086,000 1,086,000 1,086,000 - -
Reference price 2 23.39 45.38 36.81 38.16 43.70 37.43 37.43 37.43
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/21/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,591 27,021 28,906 33,436 38,465 43,334 48,844 55,814
EBITDA 1 1,979 2,748 2,900 3,490 4,111 4,612 5,319 6,103
EBIT 1 1,118 1,734 1,809 2,247 2,764 3,189 3,678 4,100
Operating Margin 5.18% 6.42% 6.26% 6.72% 7.19% 7.36% 7.53% 7.35%
Earnings before Tax (EBT) 1 1,128 1,748 1,785 2,213 2,633 3,391 3,999 4,444
Net income 1 1,015 1,467 1,543 1,960 2,108 2,488 2,822 3,152
Net margin 4.7% 5.43% 5.34% 5.86% 5.48% 5.74% 5.78% 5.65%
EPS 2 0.9400 1.350 1.420 1.800 1.940 1.830 2.559 2.944
Free Cash Flow 1 -133.6 1,351 -113.8 -131.6 560.3 773 595 937
FCF margin -0.62% 5% -0.39% -0.39% 1.46% 1.78% 1.22% 1.68%
FCF Conversion (EBITDA) - 49.17% - - 13.63% 16.76% 11.19% 15.35%
FCF Conversion (Net income) - 92.1% - - 26.59% 31.07% 21.09% 29.73%
Dividend per Share 2 - 0.4000 0.1900 - 0.2300 0.2207 0.2528 0.2600
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/21/24 - - -
1MXN in Million2MXN
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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 2025 Q1
Net sales 1 7,339 7,756 7,611 8,503 8,358 8,963 8,716 9,741 9,612 10,396 10,243 10,903 10,854 11,729 -
EBITDA 1 758.2 661.2 855 880.2 795 959.3 1,047 1,014 1,021 1,030 1,294 1,086 1,056 1,021 1,292
EBIT 1 493.8 - 551.9 - 486.3 - 725.7 - 676.2 684.8 924.7 752.9 744.2 954.2 -
Operating Margin 6.73% - 7.25% - 5.82% - 8.33% - 7.03% 6.59% 9.03% 6.91% 6.86% 8.13% -
Earnings before Tax (EBT) 492.1 - 546.3 548.4 486.2 - 739.9 - - - - - - - -
Net income 1 390.9 430 482.1 485.5 431.9 560 618.4 551.8 534.6 402.7 755.2 603.3 603.3 742.6 -
Net margin 5.33% 5.54% 6.33% 5.71% 5.17% 6.25% 7.1% 5.67% 5.56% 3.87% 7.37% 5.53% 5.56% 6.33% -
EPS 2 0.3600 0.4000 0.4400 0.4500 0.4000 0.5200 0.5700 0.5100 0.4900 0.3700 0.6088 0.5794 0.5819 0.6948 -
Dividend per Share 2 - - - - - - - - - - - 0.2508 - - -
Announcement Date 10/27/21 2/23/22 4/28/22 7/27/22 10/26/22 2/22/23 4/27/23 7/26/23 10/25/23 2/21/24 4/24/24 - - - -
1MXN in Million2MXN
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 2,391 1,856 2,536 2,078 2,318 2,787 2,303 2,561
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -134 1,351 -114 -132 560 773 595 937
ROE (net income / shareholders' equity) 4.51% 6.22% 6.23% 7.45% 7.5% 8.9% 8.97% 8.64%
ROA (Net income/ Total Assets) 3.7% 4.9% 4.83% 5.75% 5.73% 6.87% 7.27% 7.19%
Assets 1 27,464 29,917 31,959 34,105 36,769 36,238 38,804 43,860
Book Value Per Share 2 21.20 22.20 23.40 25.00 26.70 29.20 31.90 34.30
Cash Flow per Share 2 1.640 - 2.220 2.630 3.610 1.200 1.600 -
Capex 1 1,917 1,795 2,524 2,982 3,365 3,549 3,871 4,161
Capex / Sales 8.88% 6.64% 8.73% 8.92% 8.75% 8.19% 7.93% 7.45%
Announcement Date 2/26/20 2/24/21 2/23/22 2/22/23 2/21/24 - - -
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
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
37.43 MXN
Average target price
47.52 MXN
Spread / Average Target
+26.97%
Consensus
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