| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | 1 | — | — | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.00 |
—
—
—
|
| 2025 | 0.00 |
—
—
—
—
|
| 2024 | 0.04 |
—
—
—
|
| 2019 | 0.15 |
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 624.00 | 864.00 | 1,822.00 | 653.68 |
| Receivables | 2,401.00 | 2,297.00 | 2,604.00 | 2,959.94 |
| Inventory | 1,789.00 | 1,485.00 | 1,527.00 | 1,573.71 |
| Other | 191.00 | 370.00 | 144.00 | 692.68 |
| 5,005.00 | 5,016.00 | 6,097.00 | 5,880.01 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 3,109.00 | 3,090.00 | 3,092.00 | — |
| ST’ Debt | 975.00 | 1,606.00 | 2,869.00 | — |
| Other | 1,620.00 | 927.00 | 948.00 | — |
| 6,786.00 | 6,092.00 | 7,347.00 | 6,373.89 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 4,019.09 | 4,593.42 | — | — |
—
|
| ’25 | 3,614.22 | 4,092.54 | 4,245.42 | 4,179.83 |
16,132.00
|
| ’24 | 3,942.00 | 4,356.66 | 4,055.03 | 3,709.31 |
16,063.00
|
| ’23 | 4,035.80 | 4,482.86 | 4,363.87 | 3,671.47 |
16,554.00
|
| ’22 | 3,724.62 | 4,028.12 | 3,955.57 | 3,868.70 |
15,577.00
|
| ’21 | 3,411.03 | 3,855.31 | 3,693.05 | 3,453.97 |
14,379.00
|
| ’20 | 3,075.93 | 2,911.55 | 3,424.49 | 3,402.03 |
12,814.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | (139.00) | — | — | 1,975.00 |
1,975.00
|
| ’24 | (19.00) | — | — | 1,979.00 |
1,979.00
|
| ’23 | (19.10) | 516.80 | 708.64 | 2,222.00 |
2,222.00
|
| ’22 | 58.04 | 344.60 | 323.87 | 1,475.00 |
1,475.00
|
| ’21 | 723.01 | (87.25) | 452.17 | 1,843.00 |
1,843.00
|
| ’20 | (21.76) | 164.00 | 569.14 | 1,613.00 |
1,613.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | — | — | — | — |
—
|
| ’25 | (404.00) | — | — | 763.00 |
763.00
|
| ’24 | (182.00) | — | — | 696.00 |
696.00
|
| ’23 | (19.10) | 516.80 | 708.64 | 1,150.00 |
1,150.00
|
| ’22 | 58.04 | 344.60 | 323.87 | 415.00 |
415.00
|
| ’21 | 723.01 | (87.25) | 452.17 | 875.00 |
875.00
|
| ’20 | (21.76) | (73.00) | 569.14 | 1,024.00 |
1,024.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.16 | 0.24 | — | — |
—
|
| ’25 | 0.50 | 0.22 | 0.18 | (0.24) |
0.65
|
| ’24 | 0.17 | 0.16 | 0.27 | 0.03 |
0.64
|
| ’23 | 0.15 | 0.18 | 0.09 | (0.30) |
0.12
|
| ’22 | 0.14 | 0.18 | 0.34 | (0.07) |
0.58
|
| ’21 | 0.44 | 0.18 | (0.26) | 0.13 |
0.50
|
| ’20 | 0.03 | (0.03) | (1.03) | 0.05 |
(0.98)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 3.20 | 4.08 | 5.00 | 4.89 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 6.93 | 8.46 | 9.27 | 12.04 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 43,853 | 46,497 | 45,649 | 39,886 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.36 | 0.36 | 0.35 | 0.40 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15,577.00 | 16,554.00 | 16,063.00 | 16,132.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.96% | 33.68% | 33.67% | 32.92% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 770.00 | 1,323.00 | 991.00 | 789.00 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.94% | 7.99% | 6.17% | 4.89% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 561.00 | 119.00 | 924.00 | 404.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,120.00 | 1,190.00 | 1,234.00 | 1,291.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.73 | 11.41 | 11.10 | 11.12 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 0.58 | 0.12 | 0.64 | 0.65 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.02 | 1.53 | 1.37 | 1.36 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.73) | (0.74) | (0.89) | (0.84) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.29 | 0.79 | 0.48 | 0.53 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.51 | 8.35 | 8.62 | 9.40 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,451.83 | 1,450.36 | 1,446.85 | 1,451.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 6.98 | 63.42 | 8.95 | 17.41 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.38 | 0.67 | 0.51 | 1.03 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.55 | 0.91 | 0.65 | 1.22 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.92 | 1.13 | 0.94 | 1.43 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (21.93) | (71.95) | 11.54 | 26.40 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,475.00 | 2,222.00 | 1,979.00 | 1,975.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,060.00) | (1,072.00) | (1,283.00) | (1,212.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 415.00 | 1,150.00 | 696.00 | 763.00 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,020.00) | (1,781.00) | (1,076.00) | (1,250.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,825.00 | 8,342.00 | 7,848.00 | 8,194.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,330.00 | 7,718.00 | 6,984.00 | 6,372.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10,909.00 | 12,116.00 | 12,477.00 | 13,638.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.23% | 0.66% | 3.37% | 3.41% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.55% | 5.51% | 5.85% | 3.14% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.10% | 1.58% | 7.64% | 7.35% | ‡‡‡‡‡ | — | — |
ROE
|
Cemex S.A.B. de C.V. (CX) showcases notable deleveraging progress, slashing total debt from $14.7 billion in 2016 to a projected $4.5 billion by 2025, alongside steady revenue recovery to $16.2 billion in 2024 and resilient gross margins near 33.6%. Balance sheet strength has improved with shareholder equity up 18% to $12.5 billion and ROE climbing to 7.6%, painting a picture of operational grit amid post-pandemic infrastructure demand. Yet, this rebound feels precarious, with net income’s volatility—from a $1.35 billion loss in 2020 to just $119 million in 2023—highlighting vulnerability to input costs and one-off charges.
Profitability metrics like EBT margins (down to 6.1% in 2024) and free cash flow per share (halved to $0.41) underscore fragility, exacerbated by capex demands in a cyclical industry. Valuation appears cheap at PS 0.50, PB 0.65, and forward PE 12.4x, but stock price swings and absent insider buying signal market skepticism. Macro headwinds loom large: U.S. housing slowdowns, China’s property woes, Mexico’s fiscal austerity, and potential tariffs.
Contrarians see a value trap in Cemex’s story—deleveraging real, but FCF erosion and tepid 2025-2026 forecasts (flat revenue, near-zero EPS) demand caution. At current levels, it warrants a 20-30% discount before consideration, as history’s boom-bust cycles remind us of downside risks.
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