Becle, S.A. (CUERVO) Fair Value & Analysis

Consumer Defensive · MX · Market cap 52.3B MXN

A solid business, screening 162% undervalued on our models.

What matters now

• The price is below even our cautious bear case (22.60 MXN). The market is more pessimistic than our downside scenario.
• Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range (22.60 MXN to 51.16 MXN) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 13.21 MXN – 48.86 MXN · fair‑value band 22.60 MXN – 51.16 MXN · the 14.55 MXN price screens below the 38.05 MXN fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Becle, S.A. (CUERVO) currently trades at 14.55 MXN, while our model-based Fair Value estimate is 38.05 MXN, implying the stock looks roughly 161.5% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Becle, S.A. generated revenue of 40.9B MXN at a net margin of 19.3%. Revenue declined 23.1% year over year. It earns a return on equity of 11.4%. Net debt stands at 8.1B MXN. Fundamentals as of Jul 14, 2026

Our scenario range runs from 22.60 MXN (bear case) to 51.16 MXN (bull case); at 14.55 MXN, the current price sits below 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. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 40% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 6% fair-value upside, at 162%, CUERVO screens cheaper 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.

Widest divergence: Growth Earnings (45.70 MXN) versus Dividend Discount (6.19 MXN). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Becle, S.A.B. de C.V. manufactures and distributes spirits and other distilled beverages in Mexico, the United States, Canada, and internationally.

Full company description

Becle, S.A.B. de C.V. manufactures and distributes spirits and other distilled beverages in Mexico, the United States, Canada, and internationally. The company offers tequila under the 1800, Jose Cuervo Especial, Jose Cuervo Tradicional, Reserva de la Familia, Gran Centenario, and Maestro Dobel brand names; whiskey, including North American whiskey under the Stranahan's, Tincup, and Pendleton brands, as well as Irish whiskey under the Bushmills, Proper No. Twelve, and The Sexton brands; rum under the Kraken and MATUSALEM brand; and vodka under the Three Olives and Hangar 1 brand names, as well as tequila liquor under the Agavero brand. It also provides ready-to-drink cocktails under the Jose Cuervo Paloma, Kraken Rum and Cola, Margarita, and 1800 Margarita brands; non-alcoholic beverages under the B:oost, Margarita Mix, and SANGRITA VIUDA DE SANCHEZ brand names; Mezcal under the Creyente and 400 Conejos brand names; and gin under the Boodles brand names. Becle, S.A.B. de C.V. was founded in 1758 and is headquartered in Mexico City, Mexico.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Becle, S.A. reported revenue of 43.1B MXN in FY2025 versus 39.4B MXN in FY2021, a compound +2.2%/yr. Reported net income was 8.6B MXN in FY2025, compounding +14.6%/yr from FY2021.

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Peer Group

Beverages - Wineries & Distilleries · 96 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.

Valuation Multiples vs Beverages - Wineries & Distilleries median · lower = cheaper

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.

Values & ESG

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

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

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Frequently asked questions

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.