Fomento Economico Mexicano S.A.B. de C.V. (FMX) vs The Boston Beer Company, Inc. (SAM)

Fomento Economico Mexicano S.A.B. de C.V. and The Boston Beer Company, Inc. are both Beverages Brewers companies. Fomento Economico Mexicano S.A.B. de C.V. is the larger, with a market value of $23.9B against $1.8B — 13.6× the size. The Boston Beer Company, Inc. has negative trailing earnings, so its P/E is not meaningful; Fomento Economico Mexicano S.A.B. de C.V. trades at 23.8×. Fomento Economico Mexicano S.A.B. de C.V. grew revenue faster over the last twelve months: 21.2% against −6.06%. Fomento Economico Mexicano S.A.B. de C.V. has the higher net margin (3.54% vs −3.64%) and the higher return on invested capital (14.7% vs −12.4%). Across the 20 metrics below, Fomento Economico Mexicano S.A.B. de C.V. leads on 12 and The Boston Beer Company, Inc. on 8.

Valuation

Metric FMX SAM Beverages Brewers median
P/E 23.85 n/m 17.60
P/S 0.79 0.92 0.92
P/B 2.23 2.48 2.23
Price to free cash flow 20.14 8.59 11.17
EV/EBITDA 9.60 n/m 9.68
EV/Sales 0.82 0.79 1.13
Earnings yield 4.19% (3.98%) 5.64%
Free cash flow yield 4.96% 11.64% 8.95%

Profitability

Metric FMX SAM Beverages Brewers median
Gross margin 40.50% 48.88% 48.88%
Operating margin 8.54% (4.71%) 8.54%
Net margin 3.54% (3.64%) 3.62%
Free cash flow margin 0.00% 10.71% 12.13%
Return on equity 0.00% (8.61%) 6.89%
Return on assets 4.09% (5.55%) 4.09%
Return on invested capital 14.70% (12.35%) 6.25%

Growth

Metric FMX SAM Beverages Brewers median
Revenue growth (TTM) 21.23% (6.06%) (1.77%)
EPS growth (last fiscal year) (22.75%) 95.45% 5.88%
Revenue growth, 5-year CAGR 13.51% 2.50% 4.82%
Net income growth, 5-year CAGR 41.83% (10.79%) 0.61%

Health

Metric FMX SAM Beverages Brewers median
Debt to equity 0.46 0.01 0.71
Current ratio 1.14 1.05 1.02
Net debt to EBITDA 0.24 (0.89) 2.65

Dividend

Metric FMX SAM Beverages Brewers median
Dividend yield 5.48% — 3.57%
Payout ratio 1.31 — 0.36

Size

Metric FMX SAM Beverages Brewers median
Market cap 23.93b 1.76b 21.11b

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