Fomento Económico Mexicano, S.A.B. de C.V. (FMX)

FMX Cash Flow Statement

Financials in millions MXN. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	105,826	131,338	179,296	98,276	103,912
Depreciation & Amortization	44,138	39,310	34,017	30,527	27,987
Stock-Based Compensation	6,682	663	-1,063	3,075	-1,884
Other Adjustments	20,641	640	-31,667	9,863	3,449
Change in Receivables	-7,772	-9,716	-11,326	-6,142	-5,021
Changes in Inventories	-3,287	-6,720	-6,442	-6,860	-6,623
Changes in Accounts Payable	-9,977	11,578	11,177	12,006	17,075
Changes in Accrued Expenses	-720	150	3,959	2,291	348
Changes in Income Taxes Payable	-27,074	-27,785	-29,507	-18,304	-12,976
Changes in Other Operating Activities	-4,464	-2,279	-9,117	-3,018	-1,221
Operating Cash Flow	71,080	71,510	49,679	72,576	73,090
Operating Cash Flow Growth	-0.60%	43.94%	-31.55%	-0.70%	37.46%
Capital Expenditures	-38,502	-43,682	-34,814	-29,354	-17,572
Sale of Property, Plant & Equipment	697	872	857	462	2,412
Purchases of Intangible Assets	-3,545	-3,631	-3,306	-2,118	-1,912
Purchases of Investments	-601	-9,323	-27,927	1,051	-24,166
Proceeds from Sale of Investments	18,255	-	-	21,830	-
Payments for Business Acquisitions	-	-7,517	-4,210	-24,182	-
Proceeds from Business Divestments	14,387	25,023	165,657	-	-
Other Investing Activities	7,248	5,136	36,035	-14,121	-4,937
Investing Cash Flow	-2,061	-33,122	132,292	-46,432	-46,175
Long-Term Debt Issued	11,333	1,207	11,238	15,855	39,888
Long-Term Debt Repaid	-17,608	-18,486	-52,874	-17,797	-44,873
Net Long-Term Debt Issued (Repaid)	-6,275	-17,279	-41,636	-1,942	-4,985
Repurchase of Common Stock	-12,364	-20,311	-	-	-
Net Common Stock Issued (Repurchased)	-12,364	-20,311	-	-	-
Common Dividends Paid	-49,925	-25,080	-18,798	-17,506	-13,399
Other Financing Activities	-23,436	-21,379	-32,118	-16,450	-18,605
Financing Cash Flow	-92,000	-84,049	-92,552	-35,898	-36,989
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-8,873	19,406	-7,746	-4,214	-143
Net Cash Flow	-22,981	-45,661	89,419	-9,754	-10,074
Free Cash Flow	32,578	27,828	14,865	43,222	55,518
Free Cash Flow Growth	17.07%	87.20%	-65.61%	-22.15%	60.86%
FCF Margin	3.87%	3.56%	2.12%	7.24%	10.98%
Free Cash Flow Per Share	36.14	30.24	16.08	46.74	60.04
Levered Free Cash Flow	-13,108	-6,471	4,314	20,089	39,711
Unlevered Free Cash Flow	2,027	11,961	20,157	32,434	44,176

Updated Feb 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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