Femsa’s Scale in the Mexican Beverage and Retail Markets Has Helped It Develop a Competitive Edge
Narrow-moat Femsa ended its year on solid footing, in our view, as annual sales fell slightly short of our forecast (at MXN 470 million versus our estimate of MXN 488 million) but profitability exceeded our expectations, with gross margin of 37% (50 basis points of expansion over the prior year period) and operating margin of 9% (30 basis points of contraction) above our estimates of 36% and 8%, respectively. As such, we aren't anticipating a material change to our long-term outlook, which incor...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.