Coca-Cola FEMSA, S.A.B. de C.V. (KOF) Análise de ações

Visão geral da empresa

Coca-Cola FEMSA, S.A.B. de C.V. operates as a franchise bottler that produces, markets, sells, and distributes beverages bearing the Coca-Cola trademark across a network of countries including Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company focuses specifically on the Consumer Defensive sector within the Beverages - Non-Alcoholic industry, a classification that denotes stability and essential consumer demand regardless of broader economic cycles. This enterprise manages a significant operational scale, evidenced by a market capitalization of $22.57B and an annual revenue of $291.75B generated by its workforce of 93000 employees. These substantial market cap and revenue figures indicate that the company functions as a major global player with a dominant position in the non-alcoholic beverage distribution landscape, securing its status as a key infrastructure provider for the industry.

Saúde financeira

The financial performance of the company is defined by a revenue of $291.75B and a net income of $23.84B, resulting in an EBITDA of $51.55B that highlights a substantial gap between top-line sales and bottom-line earnings. This significant divergence between revenue and net income reveals a cost structure where operating expenses, including cost of goods sold, administrative costs, and taxes, consume approximately 91.8% of total revenue before reaching the final profit line. The company generates $1.80B in free cash flow, a figure that represents the cash remaining after capital expenditures, thereby indicating the entity's capacity to fund operations, service debt, or return capital to stakeholders without external financing. Margins further dissect the profitability profile, with a gross margin of 45.6% reflecting pricing power and supply chain efficiency, an operating margin of 13.4% showing control over operating expenses, and a profit margin of 8.2% demonstrating the final return to shareholders after all costs. Liquidity and leverage are critical metrics, as the company holds $28.20B in cash against $85.51B in debt, creating a net debt position that necessitates careful management given a debt-to-equity ratio of 55.52. Short-term solvency is assessed via a current ratio of 1.12, which suggests the company possesses slightly more current assets than current liabilities, indicating a conservative but tight approach to managing immediate obligations. Return metrics such as a Return on Equity of 16.4% and a Return on Assets of 7.8% reveal that management is generating a robust return on the capital invested in the business relative to the total asset base.

Avaliação de valorização

Valuation metrics suggest a complex picture of investor expectations, with a P/E Ratio (TTM) of 130.31 significantly higher than the Forward P/E of 11.59. This stark difference implies that the market prices in substantial expected earnings growth or that current earnings are temporarily depressed relative to future projections, causing the forward multiple to appear much more attractive. The price-to-book ratio stands at 2.62, indicating that the market values the company at a 162% premium over its book value, which may reflect the intangible value of the Coca-Cola franchise and brand equity. Alternative valuation perspectives include a price-to-sales ratio of 0.08 and an EV/EBITDA of 5.51, metrics that suggest the company is trading at a low multiple relative to its sales volume and earnings power before interest, taxes, depreciation, and amortization. Price volatility is contextualized by a 52-Week High of $116.36 and a 52-Week Low of $80.22, placing the current trading price within a defined historical range that reflects recent market sentiment shifts. The stock exhibits a Beta of 0.54, a value that signifies the share price is less volatile than the broader market, moving with roughly half the intensity of the general equity index during periods of market fluctuation.

Growth & Income

Growth dynamics are characterized by a Revenue Growth (YoY) of 2.4% and an Earnings Growth (YoY) of 3.0%, indicating that earnings are expanding at a faster rate than revenue. This divergence suggests improved operational efficiency or margin expansion, as the company generates higher income growth despite a slower increase in total sales volume. As a dividend payer, the company distributes a Dividend Yield of 4.1% to shareholders while maintaining a Payout Ratio of 623.5%, a figure that exceeds 100% and indicates the dividend is currently funded largely from cash reserves rather than current earnings. This high payout ratio implies a reliance on accumulated cash balances to sustain the dividend, which introduces a specific risk profile regarding the sustainability of the payout if cash flows do not increase correspondingly. The overall growth and income profile presents a scenario of modest revenue expansion coupled with accelerating earnings, supported by a high dividend yield that compensates investors but relies heavily on the company's substantial cash hoard to maintain consistency.