FMX vs STZ: Fomento Economico Mexicano and Constellation Brands compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Fomento Economico Mexicano is the larger company, worth $40.3B, about 1.8 times Constellation Brands.
- Fomento Economico Mexicano grew revenue faster over the last year (+11.2% vs +6.1%).
- On earnings, Constellation Brands is the cheaper stock (13.7x vs 25.7x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | FMX | STZ |
|---|---|---|
| Market cap | $40.3B | $22.7B |
| Share price | $119.24 | $122.64 |
| Revenue (last fiscal year) | $781.6B | $9.1B |
| Free cash flow (last fiscal year) | — | $1.8B |
| Revenue growth, last year | +11.2% | +6.1% |
| Revenue growth per year, last 5 fiscal years | +12.2% | +0.9% |
| Operating margin | — | 30.2% |
| Net margin | 5.2% | 20.9% |
| Return on equity | 13.5% | 22.4% |
| P/E (trailing) | 25.7x | 13.7x |
| Price / free cash flow | 24.8x | 12.7x |
| EV / EBITDA | 10.5x | 10.2x |
| FCF growth the price implies | — | -1.0% |
| Dividend yield | 5.7% | 3.2% |
| Debt / equity | 1.58x | 1.54x |
| Fundamental grade | D | B |
| Superinvestors holding it | 5 | 7 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Fomento Economico Mexicano
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2020 | $493.0B | — | — |
| 2021 | $505.5B | — | — |
| 2022 | $597.0B | — | — |
| 2023 | $702.7B | — | — |
| 2024 | $781.6B | — | — |
Constellation Brands
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $8.8B | $1.7B | 26.4% |
| 2023 | $9.5B | $1.7B | 30.1% |
| 2024 | $10.0B | $1.5B | 31.8% |
| 2025 | $10.2B | $1.9B | 3.5% |
| 2026 | $9.1B | $1.8B | 29.8% |
Where the revenue comes from
Fomento Economico Mexicano · by segments, 2025
Proximity Americas Division$325.4B39%
Coca-Cola FEMSA$281.3B33%
Health Division$88.1B10%
Fuel Division$67.1B8%
Proximity Europe Division$57.0B7%
Other$21.9B3%
Constellation Brands · by segments, 2026
Beer$8.3B91%
Wine and Spirits$824M9%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FMX in InvestinglyQuestions
Which is bigger, Fomento Economico Mexicano or Constellation Brands?
Fomento Economico Mexicano (FMX), at $40.3B against $22.7B.
Is FMX or STZ cheaper?
By trailing P/E, Constellation Brands (13.7x) is cheaper than Fomento Economico Mexicano (25.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, FMX or STZ?
Fomento Economico Mexicano: revenue grew +11.2% over the last year, against +6.1%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.