Fomento Economico Mexicano SAB de CV ADR

FMX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$667.00	Kwvnc	Slvdwxyb

Femsa Prudently Invests for Growth in Convenience Format and Beverage Distribution

Dan Su

Feb 8, 2023

Business Strategy and Outlook

We award a narrow economic moat rating to Femsa based on the intangible assets and cost advantages at major subsidiaries Coca-Cola Femsa and the Oxxo small-format retail chain, which jointly made up 70% of 2021 revenue and 86% of pretax profits.

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