Becle S.A.B. de C.V (CUERVO) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Becle S.A.B. de C.V MXN 32.72, price MXN 14.58, upside +124.4%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 13.21 MXN – 48.86 MXN · fair‑value band 20.17 MXN – 47.56 MXN · the 14.58 MXN price screens below the 32.72 MXN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Becle, S.A.B. de C.V. manufactures and distributes spirits and other distilled beverages in Mexico, the United States, Canada, and internationally.
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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.
Stock analysis
Becle S.A.B. de C.V (CUERVO) currently trades at 14.58 MXN, while our model-based Fair Value estimate is 32.72 MXN, implying the stock looks roughly 55.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 45.70 MXN per share, and 23 of the 26 models we run sit above the 14.58 MXN price.
Bear case: the Dividend Discount group reads lowest at 5.82 MXN, and 3 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 20.17 MXN (bear) to 47.56 MXN (bull), the price of 14.58 MXN sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Becle S.A.B. de C.V 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.
Key figures
Market cap 52.4B MXN (≈ $3.0B) · P/E ratio 6.6 · P/S ratio 1.33 · EPS (TTM) 2.20 MXN · Dividend yield 2.7% · Net margin 20.1% · Return on equity 11.4% · Return on assets (EBIT) 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
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 38% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 25% fair-value upside, at 124%, CUERVO screens cheaper than that median.
Fair Value models
Bear 20.17 MXNFair Value 32.72 MXNBull 47.56 MXN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (1.61 MXN per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.2%
Start year 2020 (pandemic). Over 10 years: +11.6% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.0%
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What shareholders gained per year (last 5 years), in MXN ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in MXN: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +10.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.3%
Dividend (yield on the price)2.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 22%
⚠ Rate on operating basis: 2025 sits 83% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Mexico: IMF forecast 3.3% a year to 2030, 4.8% from 2016 to 2025) that is about −5.7% a year for the price and +1.6% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Beverages - Wineries & Distilleries · 98 stocks
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Cite: Fair Value Calculator (2026). "Becle S.A.B. de C.V Fair Value". https://www.fairvalue-calculator.com/stock/CUERVO
Frequently asked questions
Is Becle S.A.B. de C.V (CUERVO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 32.72 MXN versus a price of 14.58 MXN, about +124% upside (undervalued).
What is the fair value of CUERVO?
Our model-based fair value for Becle S.A.B. de C.V is 32.72 MXN (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.58 MXN.
What is the quality score of CUERVO?
Becle S.A.B. de C.V has a Quality Score of 69/100. 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 price target for Becle S.A.B. de C.V (CUERVO)?
Our model-based price target is the fair value of 32.72 MXN (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 20.17 MXN, optimistic scenario 47.56 MXN. It is a calculation from audited fundamentals, not an analyst target.
What is the Becle S.A.B. de C.V stock forecast for 2026?
Our models put fair value at 32.72 MXN, about +124% upside versus a price of 14.58 MXN (undervalued). Cautious scenario 20.17 MXN, optimistic scenario 47.56 MXN. The calculation is refreshed regularly with new filings.
What is the revenue of Becle S.A.B. de C.V (CUERVO)?
Becle S.A.B. de C.V reported trailing-twelve-month revenue of about 40.9B MXN (latest available figure, as of Sep 24, 2026).
Does Becle S.A.B. de C.V pay a dividend?
Becle S.A.B. de C.V currently shows a dividend yield of about 2.73% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Becle S.A.B. de C.V (CUERVO)?
For today's price to be fair in a discounted-cash-flow model, Becle S.A.B. de C.V would have to grow free cash flow by -2.6 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CUERVO use?
Our models discount Becle S.A.B. de C.V at 10.5 %: a base by market capitalisation (mid), damped by beta 0.26, country premium for Mexico. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Becle S.A.B. de C.V that is -2.6 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Becle S.A.B. de C.V (CUERVO) delivered so far?
Over the past 5 years revenue at Becle S.A.B. de C.V grew +4.2 % a year. The price currently implies -2.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Becle S.A.B. de C.V (CUERVO) growing?
The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into Becle S.A.B. de C.V (-2.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Becle S.A.B. de C.V (CUERVO)?
The free-cash-flow yield on the price is 12.31 %: that much free cash flow Becle S.A.B. de C.V produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Becle S.A.B. de C.V (CUERVO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Becle S.A.B. de C.V it is 32.72 MXN per share (as of Sep 24, 2026), against a price of 14.58 MXN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Becle S.A.B. de C.V stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CUERVO trades below its calculated fair value: price 14.58 MXN, fair value 32.72 MXN, a gap of about +124% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CUERVO?
No. The price is what the market pays today (14.58 MXN); the fair value is what the company's own numbers justify (32.72 MXN). For Becle S.A.B. de C.V the two are 18.14 MXN per share apart. That gap is exactly why we show both numbers side by side.
How much is Becle S.A.B. de C.V worth?
The market values Becle S.A.B. de C.V at about 52.4B MXN (market capitalisation, as of Sep 24, 2026). Per share that is 14.58 MXN; our models calculate a fair value of 32.72 MXN per share.
What do the bullish and bearish scenarios say about CUERVO?
Our models span a range for Becle S.A.B. de C.V: cautious scenario 20.17 MXN, base 32.72 MXN, optimistic 47.56 MXN per share (as of Sep 24, 2026, price 14.58 MXN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CUERVO?
Becle S.A.B. de C.V trades at a price-to-earnings ratio of 6.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 32.72 MXN is built from several models across several years. Other multiples: PEG 1.9, P/B 0.8, P/S 1.3, EV/EBITDA 6.3.
What is the PEG ratio of CUERVO?
The PEG ratio of Becle S.A.B. de C.V is 1.85 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Becle S.A.B. de C.V (CUERVO)?
Balance-sheet figures for Becle S.A.B. de C.V (as of Sep 24, 2026): return on equity 11.4%, debt of 0.27 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is CUERVO from its 52-week high?
Becle S.A.B. de C.V trades at 14.58 MXN, about 38% below its 52-week high of 23.54 MXN and 10% above the low of 13.21 MXN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 32.72 MXN is for.
Which stocks are comparable to Becle S.A.B. de C.V?
From the same area (Consumer Defensive) we also value Kweichow Moutai Co, Wuliangye Yibin Co, Shanxi Xinghuacun Fen Wine Factory Co, Pernod Ricard SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Becle S.A.B. de C.V stock attractive at the current price?
The data as of Sep 24, 2026: price 14.58 MXN, calculated fair value 32.72 MXN (+124%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CUERVO calculated?
We run Becle S.A.B. de C.V through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 32.72 MXN, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Becle S.A.B. de C.V currently trades 124 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Becle S.A.B. de C.V (CUERVO)?
The closing price on Sep 23, 2026 was 14.58 MXN. Our model-based fair value is 32.72 MXN, about +124% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Becle S.A.B. de C.V right now?
The price is below even our cautious bear case (20.17 MXN). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. 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 (20.17 MXN to 47.56 MXN) leaves room in how you read the outcome.
Key figures of Becle S.A.B. de C.V
How large is the market capitalisation of Becle S.A.B. de C.V (CUERVO)?
The market capitalisation of Becle S.A.B. de C.V is 52.4B MXN (≈ $3.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Becle S.A.B. de C.V (CUERVO)?
The price-to-sales ratio of Becle S.A.B. de C.V is 1.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Becle S.A.B. de C.V (CUERVO)?
Earnings per share at Becle S.A.B. de C.V are 2.20 MXN (price ÷ EPS = P/E 6.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Becle S.A.B. de C.V (CUERVO)?
The dividend yield of Becle S.A.B. de C.V is 2.7% (payout 18.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Becle S.A.B. de C.V (CUERVO)?
The net margin of Becle S.A.B. de C.V is 20.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Becle S.A.B. de C.V (CUERVO)?
The return on equity (ROE) of Becle S.A.B. de C.V is 11.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Becle S.A.B. de C.V (CUERVO)?
On an EBIT basis the return on assets of Becle S.A.B. de C.V is 7.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Becle S.A.B. de C.V (CUERVO)?
The operating margin of Becle S.A.B. de C.V is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Becle S.A.B. de C.V (CUERVO)?
Revenue at Becle S.A.B. de C.V is growing −23.1% versus a year earlier (3y avg −2.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Becle S.A.B. de C.V (CUERVO)?
Earnings per share at Becle S.A.B. de C.V are growing −66.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Becle S.A.B. de C.V (CUERVO) carry?
The net debt of Becle S.A.B. de C.V is 8.1B MXN (fiscal year 2025, ≈ 1.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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