Cemex SAB (CX) AI Stock Analysis

• Market Cap: $18.94B
• Dividend Yield: 0.74%
• Average Volume (3M): 6.41M
• Price to Earnings (P/E): 18.9
• Beta (1Y): 1.08
• Revenue Growth: -6.34%
• EPS Growth: 210.97%
• Country: US
• Employees: 43,800
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): -0.25
• Shares Outstanding: 1,449,087,000
• 10 Day Avg. Volume: 5,354,204
• 30 Day Avg. Volume: 6,408,113
• PEG Ratio: <0.01
• Price to Book (P/B): 0.13
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 1.65
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 1.27
• Enterprise Value/Gross Profit: 4.05
• Enterprise Value/Ebitda: 8.10
• 1Y Price Target: $13.30
• Price Target Upside: 7.78% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 0.82
• Revenue Forecast (FY): $17.31B

• Rating: 71 Outperform
• Price Target: $13.50 ▲(9.40% Upside)
• Action: Reiterated Date: 02/08/26
• Date: Action: Reiterated 02/08/26

The score is driven primarily by solid financial performance (profitability recovery, improved leverage, and positive free cash flow) and supportive earnings-call guidance around cost savings, margins, and free-cash-flow conversion. Technicals are mixed with neutral momentum and near-term consolidation, while valuation is middling with a low dividend yield.

Positive Factors

Improved Leverage

CEMEX has meaningfully reduced leverage versus 2020, lowering refinancing and liquidity risk and improving financial flexibility. A more moderate debt-to-equity ratio supports sustained investment in operations, dividends and buybacks and strengthens the firm's resilience through construction cycles.

Stronger Cash Generation

The company produced consistently positive operating and free cash flow with a marked improvement in 2025 and a raised conversion target for 2026. Higher and more predictable cash conversion underpins sustainable reinvestment, deleveraging optionality and capacity to fund dividends and the announced buyback program.

Cost Savings & Structural Efficiency

Project Cutting Edge has delivered material, recurring EBITDA savings and management targets further escalation to $400M by 2027. Durable programmatic cost reductions boost margin sustainability, improve operating leverage and create structural competitiveness across volatile regional markets.

Negative Factors

Margin Compression

EBITDA and EBIT margins have stepped down from 2023 highs, indicating weaker pricing or mix and higher cost pressure. Sustained margin compression reduces earnings resilience, limits internal cash generation under stress, and narrows the buffer available to service debt or fund strategic initiatives.

Cyclical Volume Exposure

CEMEX remains exposed to cyclical end-markets, notably U.S. residential construction and pockets of weak demand. Prolonged softness in housing or regional construction can depress aggregates and ready-mix volumes, pressuring utilization, fixed-cost absorption and medium-term revenue trends.

Cash Flow Volatility & Asset Risk

FCF volatility and recent impairment charges highlight sensitivity to working capital, capex timing and asset valuations. Erratic cash generation and impairment risk can constrain capital allocation consistency, raise refinancing risk in downturns, and limit the durability of shareholder returns.

Cemex SAB Business Overview & Revenue Model

Company Description

CEMEX, S.A.B. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing solutions, pavement solutions, and green building services; cement trade maritime services; and information technology solutions. The company operates approximately 2,000 retail stores. CEMEX, S.A.B. de C.V. was founded in 1906 and is headquartered in San Pedro Garza García, Mexico.

How the Company Makes Money

Cemex generates revenue primarily through the sale of its core products: cement, ready-mix concrete, and aggregates. Cement sales represent a significant portion of its revenue, as it is a fundamental material in construction. Ready-mix concrete and aggregates further contribute to the company's revenue streams, catering to various construction needs. Additionally, Cemex benefits from strategic partnerships with construction firms, government contracts, and large-scale infrastructure projects, which provide a consistent demand for its products. The company also emphasizes sustainability and innovation, which can lead to cost efficiencies and differentiation in the competitive construction materials market. Market dynamics, including construction activity and economic conditions in the regions where Cemex operates, also significantly influence its earnings.

Cemex SAB Financial Statement Overview

Summary

Solid post-2020 recovery with sustained profitability (~6% net margin TTM/2025), improving leverage (debt-to-equity down versus 2020), and consistently positive operating and free cash flow. Offsetting this, margins have compressed since the 2023 peak and free cash flow has shown volatility (drop in 2024, rebound in 2025), consistent with cyclical sensitivity.

Income Statement

Revenue has been broadly stable to modestly up overall, with strong growth in 2023 followed by a flat/slightly down 2024 and low single-digit growth in 2025. Profitability has clearly recovered from the 2020 loss and remains positive, with TTM/2025 net margin around ~6% and solid operating profitability (mid-to-high single-digit EBIT margin). The main weakness is margin compression since 2023 (EBITDA and EBIT margins have stepped down), suggesting either cost pressure or softer pricing/mix versus the prior peak.

Balance Sheet

Leverage has improved meaningfully over the period: debt-to-equity moved down from elevated levels in 2020 to a more moderate level by 2025, alongside steadily rising equity. Returns on equity are positive and fairly steady in the mid-to-high single digits in recent years (after a weak 2023 and negative 2020), pointing to normalized profitability. Key watchouts are that debt remains sizable in absolute terms and profitability is not high enough to make leverage a non-issue if the cycle turns.

Cash Flow

The business is generating consistent positive operating cash flow and free cash flow across all years provided, with a notable rebound in free cash flow in 2023 and further improvement in 2025 versus 2024. Free cash flow has covered a meaningful portion of earnings in most years (roughly one-third to two-thirds), which supports earnings quality. The primary weakness is volatility in free cash flow growth (sharp drop in 2024, rebound in 2025), implying sensitivity to working capital and/or capital spending timing.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.18B	16.20B	16.55B	14.71B	14.32B
Gross Profit	5.08B	5.44B	5.48B	4.49B	4.43B
EBITDA	2.54B	2.83B	3.26B	2.17B	2.67B
Net Income	963.25M	939.00M	182.00M	858.00M	754.15M
Balance Sheet
Total Assets	28.97B	27.30B	28.43B	27.49B	27.70B
Cash, Cash Equivalents and Short-Term Investments	1.82B	864.00M	624.00M	495.00M	613.00M
Total Debt	7.65B	7.36B	8.16B	8.82B	9.16B
Total Liabilities	15.34B	14.82B	16.32B	16.58B	17.43B
Stockholders Equity	13.31B	12.18B	11.76B	10.50B	9.83B
Cash Flow
Free Cash Flow	1.01B	598.00M	1.36B	613.00M	1.06B
Operating Cash Flow	2.06B	1.89B	2.22B	1.37B	1.84B
Investing Cash Flow	-264.36M	-328.00M	-1.32B	-640.00M	-717.29M
Financing Cash Flow	-791.65M	-1.25B	-701.00M	-961.00M	-1.40B

Cemex SAB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CX, the sentiment is Positive. The current price of 12.34 is below the 20-day moving average (MA) of 12.61, above the 50-day MA of 12.22, and above the 200-day MA of 9.47, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 47.99 is Neutral, neither overbought nor oversold. The STOCH value of 49.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CX.

Cemex SAB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VMC	75 Outperform	$39.55B	36.91	12.99%	0.67%	6.54%	32.48%
MLM	72 Outperform	$39.91B	35.25	10.65%	0.51%	1.99%	-41.08%
CX	71 Outperform	$18.94B	18.91	3.14%	0.74%	-6.34%	210.97%
EXP	70 Outperform	$7.28B	17.53	28.77%	0.47%	1.50%	-4.44%
CRH	70 Outperform	$83.48B	22.64	15.21%	1.17%	4.28%	0.39%
LOMA	63 Neutral	$1.35B	36.35	5.06%	―	-33.99%	-61.41%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Cemex SAB Corporate Events

Cemex Calls March 26, 2026 Ordinary Shareholders’ Meeting to Approve 2025 Results and Board Appointments

On February 6, 2026, Cemex, S.A.B. de C.V. convened an Ordinary General Shareholders’ Meeting for March 26, 2026, in Monterrey, Mexico, setting an agenda centered on reviewing and approving the 2025 financial and management reports, including audited financial statements, as well as reports from key oversight committees covering audit, corporate practices and finance, and sustainability, climate action, social impact, and diversity. Shareholders will also vote on the allocation of 2025 profits, including a proposed cash dividend, set a cap for the company’s share repurchase fund, appoint or reaffirm individual members and officers of the Board of Directors and its main committees, determine their compensation, and designate individuals to formalize the meeting’s resolutions, with detailed admission, registration, and shareholder eligibility requirements underscoring Cemex’s governance and ownership control framework.

The most recent analyst rating on (CX) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Cemex SAB stock, see the CX Stock Forecast page.

Cemex Lifts 2025 Cash Flow, Plans Higher Dividend and Share Buyback as Transformation Gains Traction

On February 5, 2026, Cemex reported its fourth-quarter and full-year 2025 results, highlighting the impact of its ongoing transformation plan. Adjusted Free Cash Flow from operations rose 50% for 2025 with a 46% conversion rate, while operating EBITDA inched up 1% for the year, supported by US$200 million in recurring savings from Project Cutting Edge and a strong second half that delivered 17% EBITDA growth. Although fourth-quarter net income was hit by goodwill and asset impairments, full-year net income increased 2%, and would have climbed 41% to US$1.5 billion absent those charges, with double‑digit growth in fourth-quarter sales and EBITDA driven by a recovery in Mexico, record fourth-quarter EBITDA in the U.S., and solid EMEA performance. Reflecting improved cash generation and confidence in the plan, Cemex’s board is proposing an annual dividend about 40% higher than last year and plans to activate a share repurchase program of up to US$500 million over three years, while the company also advanced its decarbonization agenda, cutting gross CO₂ emissions by 2% in 2025 and reaching the European cement industry’s 2030 emissions target five years early in its European operations.

The most recent analyst rating on (CX) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Cemex SAB stock, see the CX Stock Forecast page.

Cemex Sets February 5 Release Date for Fourth-Quarter 2025 Results

Cemex announced it will release its fourth-quarter 2025 financial results on February 5, 2026, and will hold a conference call and live audio webcast that same day to discuss the figures with investors and analysts. The company indicated that all related materials are expected to be made available on its website and filed with regulators in Mexico and the United States ahead of the call, while also cautioning that the webcast could face unforeseen technical issues and reiterating that any information shared may include forward-looking statements subject to a wide range of operational, macroeconomic, regulatory, and market risks that could materially affect future results and guidance.

The most recent analyst rating on (CX) stock is a Buy with a $14.50 price target. To see the full list of analyst forecasts on Cemex SAB stock, see the CX Stock Forecast page.

Cemex Announces Third Dividend Payment for 2025

Cemex announced the payment of the third installment of its cash dividend, totaling USD $32.5 million, as approved during its Ordinary General Shareholders’ Meeting on March 25, 2025. The dividend will be distributed to registered holders of Series A and B shares, CPOs, and ADSs as of December 15, 2025, with payments scheduled for December 16, 2025, in Mexican pesos and December 23, 2025, for ADS holders. This dividend, sourced from Cemex’s Net Tax Profit Account as of December 31, 2013, will not be subject to tax withholding, potentially benefiting shareholders by maximizing their returns.

The most recent analyst rating on (CX) stock is a Hold with a $11.25 price target. To see the full list of analyst forecasts on Cemex SAB stock, see the CX Stock Forecast page.

Cemex Announces Third Dividend Payment for December 2025

Cemex announced the payment of the third installment of its declared cash dividend, amounting to USD $32.5 million, to be distributed to registered holders of Series A and B shares, CPOs, and ADSs as of December 15, 2025. The payment will be made in Mexican Pesos on December 16, 2025, with ADS holders receiving their payments around December 23, 2025. This dividend, originating from Cemex’s Net Tax Profit Account as of December 31, 2013, will not be subject to tax withholding, reflecting the company’s ongoing commitment to returning value to its shareholders.

The most recent analyst rating on (CX) stock is a Buy with a $11.50 price target. To see the full list of analyst forecasts on Cemex SAB stock, see the CX Stock Forecast page.