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Cemex SAB
(NYSE:CX)
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Rating:65Neutral
Price Target:
$12.50
▲(3.65% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by improving financial resilience (deleveraging) and strong free cash flow momentum, reinforced by a positive earnings call with raised EBITDA guidance and cost-savings progress. Offsetting this are weaker recent profitability versus prior years, a technically soft near-term price setup (below 20/50-day averages), and an expensive valuation (high P/E with a low dividend yield).
Positive Factors
Material deleveraging
Cemex’s very low TTM debt-to-equity (~0.08) signals durable balance-sheet repair. For a cyclical building-materials firm this reduces default and refinancing risk, boosts covenant headroom, and gives flexibility for bolt-on M&A, capex optimization, or shareholder returns over the next 2–6 months.
Negative Factors
Weakened profitability
Net margin compression and modest ROE signal that earnings quality remains challenged despite revenue stability. Lower margin profile reduces reinvestment capacity and long-term return on capital, limiting how quickly operational improvements translate into materially higher shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Material deleveraging
Cemex’s very low TTM debt-to-equity (~0.08) signals durable balance-sheet repair. For a cyclical building-materials firm this reduces default and refinancing risk, boosts covenant headroom, and gives flexibility for bolt-on M&A, capex optimization, or shareholder returns over the next 2–6 months.
Read all positive factors
Cemex SAB (CX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.96B
Dividend Yield0.83%
Average Volume (3M)5.09M
Price to Earnings (P/E)36.0
Beta (1Y)1.13
Revenue Growth9.40%
EPS Growth-67.61%
CountryUS
Employees38,892
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)9.87
Shares Outstanding1,513,746,000
10 Day Avg. Volume6,889,489
30 Day Avg. Volume5,093,283
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.13
Price to Sales (P/S)0.10
P/FCF Ratio1.65
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$14.43Price Target Upside19.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.85
Revenue Forecast (FY)$17.44B
Cemex SAB Business Overview & Revenue Model
Company Description
CEMEX, S.A.B. de C.V., along with its subsidiaries, operates globally as a prominent supplier involved in the production, commercialization, and distribution of core construction commodities such as cement, ready-mix concrete, and aggregates. The ...
How the Company Makes Money
Cemex makes money primarily by producing and selling building materials used in construction. Its core revenue streams include: (1) Cement sales: Cemex manufactures clinker and cement and sells it in bulk and bagged formats to distributors, contra...
Cemex SAB Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 26, 2026
Earnings Call Sentiment Positive
The call was predominantly positive: CEMEX reported strong underlying operational and financial progress (EBITDA >$1B, double‑digit adjusted EBITDA/EBIT growth, record free cash flow, material cost reductions and accelerated Project Cutting Edge savings) and raised full‑year EBITDA guidance. Management also executed liability management and hedging actions that improve financial resilience. However, near‑term headwinds remain (weather disruptions, softer European volumes, one‑off items affecting comparability, some debt increase from strategic actions, and geopolitical/energy risks) and several transformation benefits are expected to materialize over 2027–2028. Overall, positive achievements materially outweigh the challenges highlighted.Positive Updates
Record EBITDA and Strong Margin Expansion
Consolidated EBITDA exceeded $1 billion in the quarter. Adjusting for a one-off $42 million settlement, sales grew ~11% year‑over‑year, EBITDA expanded ~19% and EBIT grew ~29%. Consolidated EBITDA margin expanded (adjusted) by ~1.4 percentage points to 21.4%; management also cited a 2.1 percentage‑point improvement to the highest level since 2008.
Negative Updates
Weather and Operational Disruptions
Unseasonable weather and operational disruptions (notably in Texas) weighed on U.S. EBITDA and margins in the quarter; a severe heat wave across Europe restricted construction activity and pressured volumes in EMEA.
Read all updates
Q2-2026 Updates
Positive
Negative
Record EBITDA and Strong Margin Expansion
Consolidated EBITDA exceeded $1 billion in the quarter. Adjusting for a one-off $42 million settlement, sales grew ~11% year‑over‑year, EBITDA expanded ~19% and EBIT grew ~29%. Consolidated EBITDA margin expanded (adjusted) by ~1.4 percentage points to 21.4%; management also cited a 2.1 percentage‑point improvement to the highest level since 2008.
Read all positive updates
Company Guidance
CEMEX raised full‑year EBITDA guidance to growth of 16–17% year‑over‑year, basing that outlook on a second‑half peso FX range of MXN 18.25–18.50 and on expectations for lower interest expense to boost free cash flow; management also increased Project Cutting Edge savings to $475 million by 2027 (having already achieved ~80% of the original $400m target), cited $185m of savings in 2026, and split the $475m roughly into $230m of overhead reductions and $245m of operating efficiencies, with most incremental savings expected in 2027. They reiterated a trailing‑12‑month free‑cash‑flow‑from‑operations conversion of ~60% (adjusted), estimated a $300m free‑cash‑flow opportunity from asset and CapEx optimization, and guided energy costs in cement to be up only “low single‑digit” versus last year (fuels were down ~12% in Q2 and ~10% H1). On financing, interest paid plus subordinated coupons are expected to fall by about $40m to roughly $455m this year, net financial leverage (including perpetual notes) stands at 2.08x (down 0.22x vs Q1), the company expects lower net debt plus subordinated notes at year‑end versus 2025, has issued $1.5bn 10‑year senior notes at 5.75% (with $500m swapped to euros) and replaced two facilities with a $3bn revolving credit tied to CO2 targets.Cemex SAB Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
71
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.00B | 16.13B | 16.06B | 16.40B | 14.71B | 14.38B |
| Gross Profit | 5.72B | 5.31B | 5.41B | 5.54B | 4.49B | 4.64B |
| EBITDA | 2.78B | 2.57B | 2.81B | 3.07B | 2.17B | 2.68B |
| Net Income | 482.32M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
Balance Sheet | ||||||
| Total Assets | 28.27B | 28.97B | 27.30B | 28.43B | 27.49B | 27.70B |
| Cash, Cash Equivalents and Short-Term Investments | 653.68M | 1.82B | 864.00M | 624.00M | 495.00M | 613.00M |
| Total Debt | 6.88B | 7.65B | 7.36B | 8.16B | 8.82B | 9.16B |
| Total Liabilities | 15.43B | 15.34B | 14.82B | 16.32B | 16.58B | 17.43B |
| Stockholders Equity | 12.53B | 13.31B | 12.18B | 11.76B | 10.50B | 9.83B |
Cash Flow | ||||||
| Free Cash Flow | 1.81B | 1.01B | 598.00M | 1.36B | 613.00M | 1.06B |
| Operating Cash Flow | 2.76B | 2.06B | 1.89B | 2.22B | 1.37B | 1.84B |
| Investing Cash Flow | -1.19B | -264.36M | -328.00M | -1.32B | -640.00M | -717.29M |
| Financing Cash Flow | -2.06B | -791.65M | -1.25B | -701.00M | -961.00M | -1.40B |
Cemex SAB Technical Analysis
Negative
12.06
Price Trends
12.52
Negative
12.09
Negative
11.68
Positive
Market Momentum
<0.01
Positive
41.65
Neutral
19.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CX, the sentiment is Negative. The current price of 12.06 is below the 20-day moving average (MA) of 12.42, below the 50-day MA of 12.52, and above the 200-day MA of 11.68, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 41.65 is Neutral, neither overbought nor oversold. The STOCH value of 19.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CX.
Cemex SAB Risk Analysis
Cemex SAB disclosed 40 risk factors in its most recent earnings report. Cemex SAB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cemex SAB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $66.63B | 17.68 | 23.51% | 1.52% | 6.33% | 14.09% | |
70 Outperform | $34.21B | 13.88 | 25.07% | 0.59% | -1.28% | 140.98% | |
70 Outperform | $36.84B | 34.13 | 13.11% | 0.72% | 6.86% | 18.35% | |
65 Neutral | $17.96B | 35.99 | 3.67% | 0.82% | 9.40% | -67.61% | |
65 Neutral | $6.49B | 16.82 | 28.27% | 0.47% | 1.68% | -7.06% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | $1.44B | 54.28 | 3.73% | ― | -8.04% | -72.35% |
* Basic Materials Sector Average
CX
Cemex SAB
11.93
3.31
38.35%
EXP
Eagle Materials
205.48
-17.76
-7.96%
MLM
Martin Marietta Materials
540.00
-31.82
-5.56%
VMC
Vulcan Materials
271.24
-1.45
-0.53%
CRH
CRH plc
96.00
1.87
1.99%
LOMA
Loma Negra Compania Industrial Argentina Sociedad Anonima
11.85
0.21
1.80%
Cemex SAB Corporate Events
Cemex Lifts 2026 Outlook as Second-Quarter EBITDA Jumps 24%
Jul 23, 2026
On July 23, 2026, Cemex reported strong second-quarter 2026 results, highlighted by a 24% year-over-year increase in operating EBITDA to US$1,018 million and an expanded EBITDA margin of 22.2%. Free cash flow from operations tripled to US$637 mill...
Cemex Receives EU Antitrust Objections Over Construction Chemicals
Jul 21, 2026
Cemex, S.A.B. de C.V. is a global building materials producer listed on the NYSE, with core businesses in cement, ready-mix concrete and aggregates. In Europe it also operates in construction chemicals, notably admixtures, which it mainly manufact...
Cemex Sets July 23 Release and Investor Call for Q2 2026 Results
Jul 17, 2026
Cemex, S.A.B. de C.V. is a global building materials producer headquartered in Mexico, supplying cement, ready-mix concrete, aggregates and related construction solutions to infrastructure, residential and commercial projects across key markets, i...
Cemex Files 2025 Sustainability Disclosures, Formalizing Net-Zero Governance Framework
Jun 26, 2026
Cemex, S.A.B. de C.V., the Mexico-based global cement and building materials producer, has published its 2025 Sustainability-related Disclosures Report in line with Mexican securities regulations. The document details its worldwide footprint in ce...
Cemex to Distribute First $45 Million Dividend Installment in June 2026
Jun 16, 2026
Cemex, S.A.B. de C.V. said it will pay the first installment of a previously approved cash dividend totaling USD $45 million, following resolutions adopted at its Ordinary General Shareholders’ Meeting on March 26, 2026. The payment relates ...
Cemex Overhauls Debt Structure With $1 Billion Note Redemption and New $3 Billion Credit Facility
Jun 11, 2026
On June 11, 2026, Cemex announced it has delivered a notice of full redemption for all $1 billion of its 5.125% subordinated notes, with the redemption date set for June 26, 2026 and funding expected to come from its new 2026 revolving credit faci...
Cemex Raises $1.5 Billion in 5.750% Senior Notes Due 2036
Jun 5, 2026
On June 5, 2026, Cemex issued $1.5 billion of 5.750% senior unsecured notes due 2036 in a U.S. underwritten public offering, fully and unconditionally guaranteed by Cemex Corp. The notes, issued under a new indenture with The Bank of New York Mell...
Cemex Sets Timetable for First Installment of $180 Million Cash Dividend
Jun 5, 2026
Cemex, S.A.B. de C.V. said that, following shareholder resolutions passed on March 26, 2026, it will distribute a previously declared cash dividend totaling $180 million in four equal U.S. dollar installments. The first $45 million installment wil...
Cemex Prices $1.5 Billion 5.75% Senior Notes Due 2036
Jun 3, 2026
On June 2, 2026, Cemex announced it had priced a U.S.$1.5 billion issuance of 5.750% senior notes due June 5, 2036, to be guaranteed by its U.S. subsidiary Cemex Corp. The notes, to be issued at 99.572% of face value with semi-annual interest paym...
Cemex Updates Investor Disclosures and Risk Factors in June 2026 Form 6-K
Jun 1, 2026
Cemex, S.A.B. de C.V. has filed a Form 6-K for June 2026 mainly to provide prospective investors with updated informational material that supplements its 2025 Form 20-F, including clarifications on its capital structure, credit agreements and use ...
Cemex Secures $3 Billion Sustainability-Linked Revolving Credit Facility
May 28, 2026
Cemex, S.A.B. de C.V. announced in May 2026 that it has signed a five-year, dollar-denominated, $3 billion syndicated sustainability-linked revolving credit agreement for general corporate purposes, including refinancing existing financial obligat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.