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Wal-Mart de México, S.A. (WALMEX) Fair Value & Analysis

Consumer Defensive · MX · Market cap 856B MXN

WM Wal-Mart de México, S.A. WALMEX · MX
Price49.49 MXN
Fair Value60.59 MXN
Upside+22.4%
Quality61/100
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Healthy Growth
Thin margins · 4.9% net margin
Low debt · generates free cash flow
2.34% dividend yield
Ranks above peers (13/15)
Moderate moat 62/100
Evidence: High Range 40.62 MXN – 75.74 MXN Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 19 days ago

Fair value updated Jul 19, 2026, revised from 60.66 MXN to 60.59 MXN (−0.1%) since Jun 24, 2026. Share price −4.4% over the past month.

A solid business, screening 22% undervalued on our models.

What matters now

  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (40.62 MXN to 75.74 MXN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

75.36 MXN 49.06 MXN Fair Value 60.59 MXN Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 49.06 MXN – 75.36 MXN · fair‑value band 40.62 MXN – 75.74 MXN · the 49.49 MXN price screens below the 60.59 MXN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Wal-Mart de México, S.A. (WALMEX) currently trades at 49.49 MXN, while our model-based Fair Value estimate is 60.59 MXN, implying the stock looks roughly 22.4% undervalued today. We read business quality at 61/100 (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, Wal-Mart de México, S.A. generated revenue of 1.0T MXN at a net margin of 4.9%. Revenue grew 1.7% year over year. It earns a return on equity of 20.2%. The stock trades on a trailing P/E of 17.7. Fundamentals as of Jul 19, 2026

Our scenario range runs from 40.62 MXN (bear case) to 75.74 MXN (bull case); at 49.49 MXN, the current price sits within 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 22% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -15% fair-value upside, at 22%, WALMEX 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 33.69 MXN 55.53 MXN 92.82 MXN 80
Residual Income 19.00 MXN 23.72 MXN 79.05 MXN 76
Rev-Margin DCF 38.99 MXN 65.60 MXN 97.66 MXN 74
All 26 models by family
DCF Models
FCF DCF 33.34 MXN 55.38 MXN 92.58 MXN 38
Owner Earnings 27.80 MXN 45.99 MXN 76.69 MXN 31
5Y Revenue Exit 38.99 MXN 66.13 MXN 101.93 MXN 39
5Y EBITDA Exit 47.60 MXN 82.89 MXN 125.57 MXN 41
5Y P/E Exit 38.39 MXN 64.96 MXN 93.90 MXN 38
10Y Revenue Exit 35.44 MXN 60.53 MXN 96.62 MXN 36
10Y EBITDA Exit 42.53 MXN 72.70 MXN 115.79 MXN 37
10Y P/E Exit 36.43 MXN 59.69 MXN 90.11 MXN 35
Earnings-Based
Graham-Dodd 19.62 MXN 73.01 MXN 98.68 MXN 54
Lynch FV 17.55 MXN 25.07 MXN 32.59 MXN 50
PEG = 1.0 17.55 MXN 25.07 MXN 32.59 MXN 46
EPV 38.72 MXN 45.26 MXN 51.08 MXN 59
Dividend Discount
Gordon GGM 16.09 MXN 35.12 MXN 59.10 MXN 70
DDM Multi-Stage 16.09 MXN 28.77 MXN 36.61 MXN 61
Multiples
P/E Multiple 43.28 MXN 57.70 MXN 72.13 MXN 63
P/S Multiple 36.79 MXN 49.05 MXN 61.31 MXN 58
P/B Multiple 30.65 MXN 40.87 MXN 51.09 MXN 55
EV/EBIT 62.93 MXN 83.36 MXN 103.79 MXN 53
EV/EBITDA 59.98 MXN 79.42 MXN 98.87 MXN 54
EV/Revenue 42.96 MXN 60.66 MXN 78.37 MXN 43
Asset-Based
NCAV (Graham) 6.81 MXN 9.13 MXN 13.62 MXN 50
Growth DCF
Growth DCF 33.69 MXN 55.53 MXN 92.82 MXN 80
Rev-Margin DCF 38.99 MXN 65.60 MXN 97.66 MXN 74
Economic Profit
Residual Income 19.00 MXN 23.72 MXN 79.05 MXN 76
ROIC Compounder 42.24 MXN 54.18 MXN 68.60 MXN 72
Growth Earnings
Growth-Adj P/E 31.60 MXN 45.14 MXN 58.69 MXN 68

Widest divergence: DCF Models (60.53 MXN) versus Asset-Based (9.13 MXN). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.0T MXN
Revenue growth (YoY) +1.7%
Net margin 4.9%
Return on equity 20.2%
Free cash flow 43.5B MXN FY2025
P/E ratio 17.2
More key figures
Operating margin 7.5%
EPS (TTM) 2.88 MXN
Dividend yield 2.3%
EPS growth (YoY) +1.4%

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 66 · Market factors (momentum, volatility) 41

Profitability 72
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 87
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

Wal-Mart de México, S.A.B. de C.V. owns and operates self-service stores in Mexico and Central America. The company operates discount stores under the Bodega Aurrerá, Despensa Familiar, and Palí names; hypermarkets under the Walmart name; supermarkets under the Walmart Express, Paiz, La Despensa de Don Juan, La Unión, and Más x Menos names; and membership …

Full company description

Wal-Mart de México, S.A.B. de C.V. owns and operates self-service stores in Mexico and Central America. The company operates discount stores under the Bodega Aurrerá, Despensa Familiar, and Palí names; hypermarkets under the Walmart name; supermarkets under the Walmart Express, Paiz, La Despensa de Don Juan, La Unión, and Más x Menos names; and membership self-service wholesale stores under the Sam's Club name. It also offers mobile internet connectivity services, advertising services, and financial services through digital wallet, as well as sells airtime recharges and imports goods for resale. In addition, the company develops and manages real estate properties. The company was founded in 1958 and is headquartered in Mexico City, Mexico. Wal-Mart de México, S.A.B. de C.V. operates as a subsidiary of Intersalt, S. de R.L. de C.V.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wal-Mart de México, S.A. reported revenue of 1.0T MXN in FY2025 versus 736B MXN in FY2021, a compound +8.3%/yr. Reported net income was 49.9B MXN in FY2025, compounding +3.1%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.0T MXN
Latest YoY
+5.6%
Avg. growth/yr (3Y)
+7.3%
Avg. growth/yr (5Y)
+7.6%
Avg. growth/yr (25Y)
+11.0%
Revenue +8.3%/yr
FY21 736B MXN
FY22 819B MXN
FY23 886B MXN
FY24 958B MXN
FY25 1.0T MXN
Net income +3.1%/yr
FY21 44.1B MXN
FY22 49.0B MXN
FY23 51.6B MXN
FY24 53.8B MXN
FY25 49.9B MXN

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Cite: Fair Value Calculator (2026). "Wal-Mart de México, S.A. Fair Value". https://www.fairvalue-calculator.com/stock/WALMEX

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Discount Stores · 25 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 · Above median
Fair Value upside +22% · Top 25%
Return on equity (TTM) 20% · Above median
Return on assets 10% · Top 25%
Net margin (TTM) 5% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 2% · Bottom 25%
Dividend yield (TTM) 2.3% · Above median

Valuation Multiples vs Discount Stores median · lower = cheaper

P/E (TTM) 17.2× · Cheaper than 75% of peers
P/B 3.63× · Cheaper than median
P/S (TTM) 0.84× · Cheaper than median
P/FCF 1.1× · Cheaper than 75% of peers
EV/EBITDA 8.5× · Cheaper than median
PEG 2.22× · Pricier 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 63 · sector 11
FUTURE 9 · sector 37
PAST 81 · sector 76
HEALTH 100 · sector 89
DIVIDEND 47 · sector 21

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 Discount Stores stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Walmart Inc WMT $113.90 $48.65 -57%
Costco Wholesale Corporation COST $916.25 $383.51 -58%
Target Corporation TGT $139.60 $118.22 -15%
Dollarama Inc DOL C$188.95 C$92.38 -51%
Avenue Supermarts Limited DMART ₹4,081 ₹1,066 -74%
Dollar General Corporation DG $125.75 $116.55 -7%
Dollar Tree, Inc DLTR $124.91 $125.92 +1%
BJ's Wholesale Club Holdings BJ $90.24 $80.99 -10%
Pepco Group PCO 40.64 PLN 54.90 PLN +35%
PriceSmart, Inc PSMT $189.05 $98.60 -48%

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Frequently asked questions

Is Wal-Mart de México, S.A. (WALMEX) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 60.59 MXN versus a price of 49.49 MXN, about +22% (undervalued).
What is the fair value of WALMEX?
Our model-based fair value for Wal-Mart de México, S.A. is 60.59 MXN (as of Jul 19, 2026), built from audited fundamentals. The current price is 49.49 MXN.
What is the quality score of WALMEX?
Wal-Mart de México, S.A. has a Quality Score of 61/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Wal-Mart de México, S.A. (WALMEX)?
Wal-Mart de México, S.A. reported trailing-twelve-month revenue of about 1.0T MXN (latest available figure, as of Jul 19, 2026).
What is the net profit margin of WALMEX?
The net profit margin of Wal-Mart de México, S.A. is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does Wal-Mart de México, S.A. pay a dividend?
Wal-Mart de México, S.A. currently shows a dividend yield of about 2.25% relative to its recent price (as of Jul 19, 2026).

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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