Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Cash Flow: Operating & Free Cash Flow

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

In fiscal 2025 (fiscal year ended Dec 31, 2025), Fomento Económico Mexicano, S.A.B. de C.V. generated MXN 71.08B of operating cash flow and spent MXN 42.05B on capital expenditures. That left free cash flow of MXN 29.03B, up 20.0% from MXN 24.20B a year earlier, or 3.5% of revenue. It returned MXN 62.29B to shareholders through MXN 49.92B in dividends and MXN 12.36B in share buybacks.

Fomento Económico Mexicano, S.A.B. de C.V. Cash Flow Statement Analysis

Values in billions MXN

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Fomento Económico Mexicano, S.A.B. de C.V. (FMX) - Annual data in billions MXN
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	2.94	131.34	179.30	98.28	103.91	18.58	38.52	39.88	42.41
Depreciation & Amortization	44.14	39.31	34.02	30.53	27.99	28.05	25.81	17.24	15.64
Deferred Income Tax	0.00	0.00	0.00	-0.87	-0.85	-0.58	-0.61	0.00	0.00
Stock Based Compensation	0.00	0.66	-1.06	3.08	-1.88	0.58	0.61	0.00	0.00
Change in Working Capital	-24.80	-8.29	-1.97	1.77	5.42	2.53	2.05	-5.67	-3.13
Change in Accounts Receivable	-0.44	-9.72	-11.33	-6.14	-5.02	2.55	-2.82	-2.43	-11.35
Change in Inventory	-3.29	-6.72	-6.44	-6.86	-6.62	-0.25	-5.64	-3.81	-2.60
Change in Accounts Payable	-9.98	11.58	11.18	12.01	17.08	-1.85	10.23	4.91	7.39
Change in Other Working Capital	18.33	7.51	-9.12	-3.02	-1.22	2.07	0.28	0.56	3.51
Other Operating Activities	18.33	7.51	-31.67	9.86	3.45	4.02	-4.75	-2.56	-14.78
Net Cash from Operating Activities	71.08	71.51	49.68	72.58	73.09	53.17	61.64	47.41	40.14
Investing Activities
Capital Expenditures	-42.05	-47.31	-34.81	-29.35	-17.57	-20.14	-25.12	-23.38	-24.18
Acquisitions	-0.23	-8.27	-4.21	-24.18	-0.66	-25.52	-9.65	1.54	53.74
Purchases of Investments	-0.37	-8.74	-27.93	1.05	-24.17	-6.05	-14.91	-40.55	-2.24
Sales/Maturities of Investments	18.26	0.17	-3.31	21.83	-1.91	14.15	29.38	0.10	1.99
Other Investing Activities	0.24	-6.08	36.04	-14.12	-4.94	6.19	6.17	4.15	2.11
Net Cash from Investing Activities	-2.06	-33.12	132.29	-46.43	-46.18	-31.37	-14.13	-58.14	31.42
Financing Activities
Debt Repayment	-17.61	-18.49	-52.87	-17.80	-44.87	60.85	-12.37	-1.03	-4.53
Common Stock Repurchased	-12.36	-20.31	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-49.93	-25.08	-18.80	-17.51	-13.40	-15.87	-13.63	-12.93	-12.45
Other Financing Activities	-6.38	-3.95	-38.67	-16.45	-18.61	-25.41	-12.43	-9.05	-4.56
Net Cash from Financing Activities	-92.00	-84.05	-92.55	-35.90	-36.99	19.58	-38.43	-23.01	-21.54
Summary
Effect of Forex Changes on Cash	-8.87	19.41	-7.75	-4.21	-0.14	0.68	-5.56	-2.60	3.29
Net Change in Cash	-22.98	-45.66	81.67	-13.97	-10.22	42.06	3.52	-34.90	53.31
Cash at Beginning of Period	139.83	165.11	83.44	97.41	107.62	65.56	62.05	96.94	43.64
Cash at End of Period	107.98	139.83	165.11	83.44	97.41	107.62	65.56	62.05	96.94
Free Cash Flow	29.03	24.20	14.87	43.22	55.52	33.03	36.52	24.04	15.95
Supplemental Disclosures
Interest Paid	-	16.16	17.31	13.64	14.25	14.18	-	-	-
Income Taxes Paid	-	27.79	29.51	18.30	12.98	15.36	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Fomento Económico Mexicano, S.A.B. de C.V. Cash Flow

What is Fomento Económico Mexicano, S.A.B. de C.V.'s free cash flow?

Fomento Económico Mexicano, S.A.B. de C.V. generated free cash flow of MXN 29.03B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of MXN 71.08B minus MXN 42.05B of capital expenditures. That was up 20.0% from MXN 24.20B a year earlier. Free cash flow equaled 3.5% of revenue.

How much does Fomento Económico Mexicano, S.A.B. de C.V. spend on capital expenditures?

Fomento Económico Mexicano, S.A.B. de C.V. spent MXN 42.05B on capital expenditures in fiscal 2025, compared with MXN 47.31B a year earlier. That equals 59.2% of operating cash flow.

Does Fomento Económico Mexicano, S.A.B. de C.V. pay dividends or buy back shares?

Yes. In fiscal 2025 Fomento Económico Mexicano, S.A.B. de C.V. returned MXN 49.92B in dividends and MXN 12.36B in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition