公司概述
Coca-Cola FEMSA, S.A.B. de C.V. operates as a franchise bottler responsible for the production, marketing, sales, and distribution of Coca-Cola trademark beverages across Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay. The company specializes in offering sparkling beverages, including colas and flavored sparkling varieties, positioning itself within the Consumer Defensive sector under the Beverages - Non-Alcoholic industry classification. This defensive sector status implies that the company's products are essential daily consumables that typically maintain stable demand regardless of broader economic fluctuations. With a market capitalization of $22.87B and annual revenue of $291.75B, the entity commands a massive scale supported by a workforce of 93000 employees. These valuation and revenue figures indicate that the company holds a dominant market position with substantial operational reach, allowing it to leverage economies of scale and maintain significant pricing power within its extensive geographic footprint.
财务健康
The company reported revenue of $291.75B, net income of $23.84B, and EBITDA of $51.55B for the trailing twelve months, revealing a distinct gap between top-line revenue and bottom-line earnings. This disparity highlights a substantial cost structure comprising taxes, interest expenses, and significant operating costs that reduce the pre-tax profit to the final net income figure. Free cash flow stands at $1.80B, which indicates the cash generated after capital expenditures, though this specific metric suggests a narrower liquidity buffer relative to the massive debt load when analyzing overall cash generation efficiency. Gross margin is 45.6%, operating margin is 13.4%, and profit margin is 8.2%, indicating that while the pricing power on products is strong, operational inefficiencies and high cost of goods sold absorb a significant portion of revenue before reaching the final profit line. The balance sheet shows cash of $28.20B against total debt of $85.51B, with a debt-to-equity ratio of 55.52, suggesting a highly leveraged financial structure where debt obligations significantly exceed liquid cash reserves. The current ratio is 1.12, indicating that current assets slightly exceed current liabilities, which points to a tight but technically sufficient short-term liquidity position to meet immediate obligations. Return on Equity is 16.4% and Return on Assets is 7.8%, revealing that management generates efficient returns on shareholder capital relative to the high asset base, though the ROA reflects the dilutive effect of the substantial debt load on overall profitability.
估值评估
The trailing P/E ratio is 130.42, while the forward P/E is 11.74, implying that the market currently prices in a massive re-rating of earnings or that current earnings are depressed compared to future expectations. The price-to-book ratio is 2.66, indicating that the market values the company at a significant premium of 166% over its tangible book value, reflecting intangible assets like brand equity and franchise rights. The price-to-sales ratio is 0.08 and EV/EBITDA is 5.57, suggesting that on a sales basis the company appears undervalued relative to revenue, yet the high forward P/E contradicts the low trailing P/E, creating a complex valuation picture. The 52-week high is $116.36 and the 52-week low is $80.22, meaning the stock price fluctuates within a range that reflects significant market volatility over the past year. The beta value is 0.54, indicating that the stock price exhibits low volatility relative to the broader market, moving at roughly half the amplitude of the overall market index.
Growth & Income
Revenue growth year-over-year is 2.4%, while earnings growth year-over-year is 3.0%, demonstrating that earnings are expanding at a faster rate than revenue, which typically implies improving operating leverage or margin expansion. The dividend yield is 3.8% with a payout ratio of 623.5%, indicating that the company is distributing a portion of its earnings as dividends despite the payout ratio exceeding 100%. A payout ratio of 623.5% is mathematically unsustainable given the net income of $23.84B against the dividend obligation, suggesting potential adjustments to dividend policy or specific accounting adjustments affecting the calculation. The overall growth and income profile presents a mix of modest top-line expansion, accelerating earnings growth, and a high-yield dividend that requires careful scrutiny regarding its long-term sustainability given the elevated payout ratio.