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Farmacias Benavides, S.A. (BEVIDESB) Fair Value & Analysis

Healthcare · MX · Market cap 10.2B MXN

FB Farmacias Benavides, S.A. BEVIDESB · MX
Price25.00 MXN
Fair Value16.52 MXN
Upside-33.9%
Quality61/100
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Mixed Growth
Thin margins · 2.2% net margin
High debt · generates free cash flow
Ranks above peers (8/13)
Moderate moat 52/100
Evidence: Medium Range 12.39 MXN – 20.65 MXN Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 28 days ago

Share price −3.8% over the past month.

A solid business, but screening 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (20.65 MXN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

26.00 MXN 8.30 MXN Fair Value 16.52 MXN Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 8.30 MXN – 26.00 MXN · fair‑value band 12.39 MXN – 20.65 MXN · the 25.00 MXN price screens above the 16.52 MXN fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Farmacias Benavides, S.A. (BEVIDESB) currently trades at 25.00 MXN, while our model-based Fair Value estimate is 16.52 MXN, implying the stock looks roughly 33.9% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Farmacias Benavides, S.A. generated revenue of 20.7B MXN at a net margin of 2.2%. Revenue grew 28.5% year over year. It earns a return on equity of 59.8%. Net debt stands at 289M MXN. Fundamentals as of Jul 12, 2026

Our scenario range runs from 12.39 MXN (bear case) to 20.65 MXN (bull case); at 25.00 MXN, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 4% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at -34%, BEVIDESB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 19.87 MXN 28.97 MXN 41.69 MXN 80
Residual Income 6.49 MXN 11.14 MXN 257.69 MXN 76
Rev-Margin DCF 19.60 MXN 31.30 MXN 44.27 MXN 74
All 26 models by family
DCF Models
FCF DCF 19.39 MXN 29.42 MXN 44.19 MXN 38
Owner Earnings 30.56 MXN 46.14 MXN 69.07 MXN 31
5Y Revenue Exit 19.60 MXN 31.20 MXN 45.73 MXN 39
5Y EBITDA Exit 34.81 MXN 58.91 MXN 86.56 MXN 41
5Y P/E Exit 13.42 MXN 19.94 MXN 26.50 MXN 38
10Y Revenue Exit 18.70 MXN 29.15 MXN 42.61 MXN 36
10Y EBITDA Exit 28.93 MXN 48.12 MXN 73.03 MXN 37
10Y P/E Exit 15.44 MXN 21.44 MXN 28.29 MXN 35
Earnings-Based
Graham-Dodd 5.35 MXN 14.49 MXN 18.99 MXN 54
Lynch FV 2.85 MXN 4.07 MXN 5.29 MXN 50
PEG = 1.0 2.85 MXN 4.07 MXN 5.29 MXN 46
EPV 13.43 MXN 15.81 MXN 17.89 MXN 59
Dividend Discount
Gordon GGM 2.36 MXN 4.90 MXN 7.77 MXN 70
DDM Multi-Stage 2.36 MXN 3.68 MXN 5.08 MXN 61
Multiples
P/E Multiple 12.39 MXN 16.52 MXN 20.65 MXN 63
P/S Multiple 10.03 MXN 13.38 MXN 16.72 MXN 58
P/B Multiple 4.81 MXN 6.41 MXN 8.01 MXN 55
EV/EBIT 29.62 MXN 39.77 MXN 49.91 MXN 53
EV/EBITDA 49.23 MXN 65.91 MXN 82.59 MXN 54
EV/Revenue 20.91 MXN 30.22 MXN 39.53 MXN 43
Asset-Based
NCAV (Graham) 0.5800 MXN 0.7800 MXN 1.16 MXN 50
Growth DCF
Growth DCF 19.87 MXN 28.97 MXN 41.69 MXN 80
Rev-Margin DCF 19.60 MXN 31.30 MXN 44.27 MXN 74
Economic Profit
Residual Income 6.49 MXN 11.14 MXN 257.69 MXN 76
ROIC Compounder 13.82 MXN 16.71 MXN 19.54 MXN 72
Growth Earnings
Growth-Adj P/E 9.79 MXN 13.98 MXN 18.18 MXN 68

Widest divergence: DCF Models (29.42 MXN) versus Asset-Based (0.7800 MXN). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 20.7B MXN
Revenue growth (YoY) +28.5%
Net margin 2.2%
Return on equity 59.8%
Free cash flow 660M MXN FY2023
P/E ratio 37.7
More key figures
Operating margin 5.1%
EPS (TTM) 0.6900 MXN
EPS growth (YoY) +14.6%
Net debt 289M MXN FY2023

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 58 · Market factors (momentum, volatility) 51

Profitability 70
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Farmacias Benavides, S.A.B. de C.V. engages in the retail of health and wellness products. The company also provides medicamentos, non-perishable food, and hygiene and beauty products, as well as photography. The company was founded in 1917 and is based in Monterrey, Mexico. Farmacias Benavides, S.A.B. de C.V.

Full company description

Farmacias Benavides, S.A.B. de C.V. engages in the retail of health and wellness products. The company also provides medicamentos, non-perishable food, and hygiene and beauty products, as well as photography. The company was founded in 1917 and is based in Monterrey, Mexico. Farmacias Benavides, S.A.B. de C.V. operates as a subsidiary of Walgreens Boots Alliance, Inc.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Farmacias Benavides, S.A. reported revenue of 17.2B MXN in FY2023 versus 13.9B MXN in FY2019, a compound +5.5%/yr. Reported net income was 282M MXN in FY2023.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
17.2B MXN
Latest YoY
+6.2%
Avg. growth/yr (3Y)
+7.5%
Avg. growth/yr (5Y)
+4.5%
Avg. growth/yr (23Y)
+5.1%
Revenue +5.5%/yr
FY19 13.9B MXN
FY20 13.9B MXN
FY21 14.7B MXN
FY22 16.2B MXN
FY23 17.2B MXN
Net income
FY19 −137M MXN
FY20 −278M MXN
FY21 9.7M MXN
FY22 127M MXN
FY23 282M MXN

BEVIDESB screens 34% overvalued. Compare with JD Health International Inc →

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Cite: Fair Value Calculator (2026). "Farmacias Benavides, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/BEVIDESB

Peer Group

Pharmaceutical Retailers · 61 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Top 25%
Fair Value upside −34% · Below median
Return on equity (TTM) 60% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 2% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth 29% · Top 25%
Debt / equity 2.31× · Higher than 75% of peers

Valuation Multiples vs Pharmaceutical Retailers median · lower = cheaper

P/E (TTM) 37.9× · Pricier than 75% of peers
P/B 24.45× · Pricier than 75% of peers
P/S (TTM) 0.49× · Pricier than median
P/FCF 0.9× · Cheaper than median
EV/EBITDA 4.7× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 21
FUTURE 100 · sector 19
PAST 100 · sector 19
HEALTH 0 · sector 97
DIVIDEND 0 · sector 66

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Pharmaceutical Retailers stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
JD Health International Inc 6618 HK$39.20 HK$33.28 -15%
Raia Drogasil S.A RADL3 R$18.20 R$15.58 -14%
Yifeng Pharmacy Chain Co 603939 ¥20.24 ¥29.07 +44%
DaShenLin Pharmaceutical Group 603233 ¥17.81 ¥23.86 +34%
Corporativo Fragua, S.A. FRAGUAB 463.00 MXN 821.18 MXN +77%
LBX Pharmacy Chain Joint Stock Company 603883 ¥11.51 ¥10.57 -8%
MedPlus Health Services Limited MEDPLUS ₹690.20 ₹379.25 -45%
Yixintang Pharmaceutical Group 002727 ¥11.46 ¥9.45 -18%
Anhui Huaren Health Pharmaceutical Co 301408 ¥14.40 ¥10.05 -30%
Apotea AB APOTEA kr 74.75 kr 43.95 -41%

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Frequently asked questions

Is Farmacias Benavides, S.A. (BEVIDESB) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 16.52 MXN versus a price of 25.00 MXN, about −34% (overvalued).
What is the fair value of BEVIDESB?
Our model-based fair value for Farmacias Benavides, S.A. is 16.52 MXN (as of Jul 12, 2026), built from audited fundamentals. The current price is 25.00 MXN.
What is the quality score of BEVIDESB?
Farmacias Benavides, S.A. has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Farmacias Benavides, S.A. (BEVIDESB)?
Farmacias Benavides, S.A. reported trailing-twelve-month revenue of about 20.7B MXN (latest available figure, as of Jul 12, 2026).
What is the net profit margin of BEVIDESB?
The net profit margin of Farmacias Benavides, S.A. is about 2.2%, meaning it keeps roughly 2.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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