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Coca Cola Femsa SAB De CV
(NYSE:KOF)
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Rating:67Neutral
Price Target:
$110.00
â–˛(5.83% Upside)
Action:Reiterated
Date:05/05/26
Overall score reflects solid financial performance (strong revenue momentum, durable operating margins, and good ROE) and a neutral technical setup, partially offset by weaker cash conversion and higher leverage. The biggest constraint is valuation, with a very elevated P/E despite an attractive dividend yield. Earnings call signals are mixed: South America strength and margin expansion are tempered by Mexico headwinds and higher financing/FX costs, with guidance left unchanged.
Positive Factors
Scale & Distribution
Extensive scale and a wide distribution footprint create a durable route‑to‑market moat. Serving ~4.2bn unit cases and 2.2m+ retail points supports frequent replenishment, merchandising leverage and pricing execution across Latin America, insulating revenues from isolated local shocks.
Negative Factors
Elevated Leverage
A debt‑to‑equity near 0.66 increases balance‑sheet rigidity and sensitivity to rising rates. Higher financing costs already contributed to a weaker comprehensive financial result and a decline in majority net income, limiting flexibility for opportunistic capital allocation in adverse scenarios.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale & Distribution
Extensive scale and a wide distribution footprint create a durable route‑to‑market moat. Serving ~4.2bn unit cases and 2.2m+ retail points supports frequent replenishment, merchandising leverage and pricing execution across Latin America, insulating revenues from isolated local shocks.
Read all positive factors
Coca Cola Femsa SAB De CV Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyCoca Cola Femsa SAB De CV (KOF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.62B
Dividend Yield3.98%
Average Volume (3M)125.82K
Price to Earnings (P/E)17.0
Beta (1Y)0.22
Revenue Growth6.57%
EPS Growth-0.27%
CountryUS
Employees118,683
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)75.20
Shares Outstanding52,520,763
10 Day Avg. Volume144,191
30 Day Avg. Volume125,821
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)0.25
Price to Sales (P/S)0.12
P/FCF Ratio6.27
Enterprise Value/Market Cap10.57
Enterprise Value/Revenue0.27
Enterprise Value/Gross Profit0.59
Enterprise Value/Ebitda1.35
Forecast
1Y Price Target
$114.50Price Target Upside10.16% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)121.71
Revenue Forecast (FY)$309.64B
Coca Cola Femsa SAB De CV Business Overview & Revenue Model
Company Description
Coca-Cola FEMSA, S.A.B. de C.V., operating as a licensed bottler, is engaged in the manufacturing, marketing, sale, and distribution of beverages under the Coca-Cola brand. Its extensive product portfolio encompasses sparkling beverages, including...
How the Company Makes Money
Coca-Cola FEMSA makes money mainly by manufacturing (or procuring), bottling, distributing, and selling beverages under trademarks licensed primarily from The Coca-Cola Company. Its core revenue stream is net sales from beverage volume sold to a w...
Coca Cola Femsa SAB De CV Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: strong operational momentum across South America (notably Brazil and Colombia), gross margin expansion, resilient adjusted EBITDA and execution wins with digital adoption and sustainability leadership. These positives are materially offset by Mexico headwinds from an excise tax increase and softer consumption, one-time ERP/severance costs and higher financing/FX expenses that reduced majority net income. Management emphasizes that many negative items are timing or one-off (severance, IT) and that they have hedges and a playbook to protect long-term profitability, while also warning of ongoing commodity volatility.Positive Updates
Consolidated Volume Growth
Total volume increased 1.2% year-on-year to 998 million unit cases, driven by positive performance across most territories and record Q1 volumes in Guatemala, Colombia and Brazil.
Negative Updates
Mexico Volume Contraction and Excise Tax Headwind
Mexico volumes declined 2.6% year-on-year due to an excise tax increase and softer consumer backdrop (Nielsen FMCG basket in territories down ~3% vol y/y), causing pressure on demand and mix.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Volume Growth
Total volume increased 1.2% year-on-year to 998 million unit cases, driven by positive performance across most territories and record Q1 volumes in Guatemala, Colombia and Brazil.
Read all positive updates
Company Guidance
Management said it is too early to change full‑year guidance after a Q1 they characterized as the toughest comparison, and therefore did not revise targets while it monitors trends; they noted Q1 results of 1.2% volume growth to 998 million unit cases, revenues up 1.1% to MXN 70.9 billion (currency‑neutral +6.0%), gross profit +4.5% to MXN 33.3 billion (gross margin +150 bps to 46.9%), operating income MXN 9.0 billion (‑2.3%; margin 12.7%, ‑50 bps; comparable OI +2.6%), adjusted EBITDA +0.9% to MXN 13.4 billion (margin 18.9%; currency‑neutral +6.1%) and majority net income down 15.5% to MXN 4.3 billion; they flagged a MXN 600 million near‑term Mexico & Central America operating‑income headwind made up of ~MXN 200m severance (one‑time), ~MXN 200m IT timing (expect full‑year IT investment <2.5% of sales) and ~MXN 200m currency translation, expect World Cup marketing to be front‑loaded but to taper to normal full‑year levels, and reiterated their risk management stance with hedges of ~60% PET, 93% sugar, 98% HFCS and 72% aluminum while watching commodity volatility before any capital‑allocation changes.Coca Cola Femsa SAB De CV Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 219.98B | 291.75B | 279.79B | 245.09B | 226.74B | 194.80B |
| Gross Profit | 100.67B | 133.18B | 128.74B | 110.86B | 100.30B | 88.60B |
| EBITDA | 43.88B | 56.07B | 52.85B | 43.82B | 40.45B | 37.33B |
| Net Income | 15.96B | 23.84B | 23.73B | 19.54B | 19.03B | 15.71B |
Balance Sheet | ||||||
| Total Assets | 333.12B | 314.54B | 307.99B | 273.52B | 278.00B | 271.57B |
| Cash, Cash Equivalents and Short-Term Investments | 2.29B | 28.21B | 32.78B | 31.06B | 40.28B | 47.25B |
| Total Debt | 90.92B | 82.68B | 78.39B | 69.31B | 80.80B | 87.29B |
| Total Liabilities | 186.25B | 160.51B | 157.44B | 139.81B | 146.12B | 144.00B |
| Stockholders Equity | 136.99B | 146.20B | 143.43B | 127.03B | 125.39B | 121.55B |
Cash Flow | ||||||
| Free Cash Flow | 15.47B | 5.72B | 16.65B | 21.66B | 17.76B | 22.73B |
| Operating Cash Flow | 35.12B | 26.04B | 42.44B | 42.29B | 35.49B | 32.72B |
| Investing Cash Flow | -21.63B | -22.02B | -23.39B | -20.07B | -19.60B | -9.55B |
| Financing Cash Flow | -32.13M | -6.35B | -19.64B | -26.35B | -20.85B | -20.26B |
Coca Cola Femsa SAB De CV Technical Analysis
Positive
103.94
Price Trends
105.25
Positive
104.23
Positive
96.53
Positive
Market Momentum
0.29
Positive
52.10
Neutral
33.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KOF, the sentiment is Positive. The current price of 103.94 is below the 20-day moving average (MA) of 106.78, below the 50-day MA of 105.25, and above the 200-day MA of 96.53, indicating a bullish trend. The MACD of 0.29 indicates Positive momentum. The RSI at 52.10 is Neutral, neither overbought nor oversold. The STOCH value of 33.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KOF.
Coca Cola Femsa SAB De CV Risk Analysis
Coca Cola Femsa SAB De CV disclosed 27 risk factors in its most recent earnings report. Coca Cola Femsa SAB De CV 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 3 New Risks
1.
If we fail to comply with privacy and data protection laws, we could be subject to adverse publicity, business disruption, data loss, government enforcement actions and/or private litigation, any of which could negatively affect our business and operating results. Q4, 2023
2.
Product safety and quality concerns could negatively affect our business. Q4, 2023
3.
Pandemics and public health crises, may adversely affect our business, financial condition and results of operations. Q4, 2023
Coca Cola Femsa SAB De CV Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $355.51B | 25.91 | 43.62% | 2.92% | 6.74% | 27.16% | |
69 Neutral | $193.25B | 21.74 | 43.94% | 3.91% | 4.29% | -6.45% | |
69 Neutral | $45.03B | 20.84 | 24.48% | 2.52% | 6.82% | 44.68% | |
68 Neutral | $41.85B | 22.82 | 7.25% | 3.12% | 9.19% | 21.61% | |
67 Neutral | $5.62B | 16.98 | 16.39% | 3.98% | 6.57% | -0.27% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $12.52B | 24.59 | 122.90% | 0.61% | 8.81% | 14.00% |
* Consumer Defensive Sector Average
KOF
Coca Cola Femsa SAB De CV
107.37
14.48
15.58%
COKE
Coca-Cola Bottling Co Consolidated
192.28
81.43
73.46%
KO
Coca-Cola
82.65
13.85
20.13%
KDP
Keurig Dr Pepper
33.50
1.52
4.74%
PEP
PepsiCo
138.68
11.67
9.19%
CCEP
Coca-Cola Europacific Partners
101.38
11.07
12.26%
Coca Cola Femsa SAB De CV Corporate Events
Coca-Cola FEMSA Posts Mixed 1Q26 Results, Approves 2025 Dividend and Expands Sustainability Reporting
Apr 29, 2026
In the first quarter of 2026, Coca-Cola FEMSA reported modest top-line growth, with volumes up 1.2% and revenues rising 1.1% (6.0% on a currency-neutral basis), while operating income declined 2.3% and majority net income fell 15.5% due mainly to ...
Coca-Cola FEMSA Files 2025 Form 20-F Annual Report With U.S. SEC
Apr 16, 2026
Coca-Cola FEMSA announced in Mexico City on April 15, 2026 that it has filed its Form 20-F annual report with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025. The filing makes the company’s latest audi...
Coca-Cola FEMSA Files 2025 Sustainability-Related Financial Disclosures in Mexico
Mar 27, 2026
On March 27, 2026, Coca-Cola FEMSA announced it had filed its Sustainability-Related Financial Disclosures for the year ended December 31, 2025 with Mexico’s National Banking and Securities Commission. The filing, made available through the ...
Coca-Cola FEMSA Shareholders Approve 2025 Results and 2026 Dividend at Annual Meeting
Mar 24, 2026
On March 24, 2026, Coca-Cola FEMSA held its Annual General Shareholders’ Meeting, where investors approved the consolidated financial statements for the year ended December 31, 2025, along with the CEO’s annual report and board and com...
Coca-Cola FEMSA Board Proposes 2026 Ordinary Dividend Payable in Quarterly Installments
Mar 4, 2026
On March 3, 2026, Coca-Cola FEMSA announced that its board has proposed an ordinary dividend of Ps. 0.9675 per share, equivalent to Ps. 7.74 per KOF UBL unit, for fiscal year 2026. If approved at the annual shareholders’ meeting scheduled fo...
Coca-Cola FEMSA Sets March 24, 2026 Date for Annual Shareholders’ Meeting
Mar 2, 2026
Coca-Cola FEMSA, S.A.B. de C.V. is the world’s largest Coca-Cola bottler by sales volume, supplying a wide portfolio of branded beverages to more than 276 million consumers in Latin America. With 56 manufacturing plants, 256 distribution cen...
Coca-Cola FEMSA Posts Strong 4Q25, Raises ESG Scores and Secures Ps. 10 Billion in Bonds
Feb 24, 2026
On February 24, 2026, Coca-Cola FEMSA reported its fourth-quarter 2025 results, highlighting a 1.3% increase in volume, 2.9% revenue growth, and a 13.3% rise in operating income, with majority net income up 3.0% and record December volumes in its ...
Coca-Cola FEMSA Raises Ps. 10 Billion in Oversubscribed Mexican Bond Offering
Feb 13, 2026
On February 12, 2026, Coca-Cola FEMSA announced it had successfully priced a dual-tranche bond offering in the Mexican market totaling Ps. 10,000 million. The issuance consisted of a 10‑year fixed‑rate tranche of Ps. 7,000 million at 9...
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.