CEMEX, S.A.B. de C.V. (CX) Fundamental Analysis: Bull vs. Bear Case

CX

CEMEX, S.A.B. de C.V.

Fundamental data last updated:August 15, 2026

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company profile

SECTOR

Basic Materials

industry

Construction Materials

Exchange

NYSE

County of HQ

MX

Next Earnings Date

Pending Announcement

Business Summary

CEMEX, S.A.B. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials worldwide. The company also offers various complementary construction products, including asphalt products; concrete blocks; roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products, such as rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs. In addition, it provides building solutions for housing solutions, pavement solutions, and green building services; cement trade maritime services; and information technology solutions. The company operates approximately 2,000 retail stores. CEMEX, S.A.B. de C.V. was founded in 1906 and is headquartered in San Pedro Garza García, Mexico.

VALUATION

P/E

424.33 Market Cap ($M USD)

$19.11B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

1.19 PRICE TO BOOK

1.47 EV / EBITDA

9.97 5-Year Average P/E

Free Cash Flow Yield

3.88%

DCF Value

$192.45

Graham Number

$0.79

Price to FCF

25.76 EV to FCF

24.86 Earnings Yield

2.35%

FCF Yield

3.88%

DIVIDEND

Yield

0.71%

Annual Payout

$0.01

Payout Ratio

27.96%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$0.03

Next Year EPS Growth Estimate

$0.00

Next Year Revenue Growth Estimate

$19.54B

Return on Equity (ROE)

3.40%

FREE CASH FLOW

Operating Margin

7.86%

Debt-to-Equity

0.57 Piotroski F-Score

8 Altman Z-Score

1.80 Return on Invested Capital (ROIC)

6.04%

Current Ratio

0.87 Quick Ratio

0.63 Net Debt to EBITDA

-0.36

Interest Coverage

2.95 Gross Profit margin

32.88%

FCF PER SHARE

$0.05

REVENUE PER SHARE

$1.13

Gainseekers Quantitative Analysis

Summary

CEMEX’s valuation is a paradox. Despite a staggering DCF value that dwarfs its recent pricing, the market seems to overlook this deep value opportunity. The astronomical P/E ratio suggests speculative exuberance, yet the earnings yield is underwhelming, hinting at potential overvaluation. The Altman Z-score raises red flags about financial distress, while the lack of a Forward P/E underscores uncertainty in growth projections. This stock is a complex puzzle, with its valuation metrics painting a picture of both opportunity and caution.

AI Exposure / Tech Reliance

In the construction materials industry, CEMEX's exposure to AI and tech advancements is indirect but significant. As infrastructure projects increasingly incorporate smart technologies, CEMEX stands to benefit from enhanced efficiency and data-driven decision-making. However, its traditional business model may require adaptation to fully leverage these technological shifts.

The Bull Case

For the discerning value investor, CEMEX offers compelling reasons to buy. With a robust ROIC of 6.04% and a healthy Piotroski F-Score of 8, the company demonstrates strong operational efficiency and financial health. Its FCF yield, while modest, indicates a capacity to generate cash, supported by a solid operating margin of 7.86%. These metrics suggest a company with pricing power and capital efficiency, making it an attractive prospect for those seeking growth at a reasonable price.

The Bear Case

However, the bear case cannot be ignored. CEMEX's Price/Book and Price/Sales ratios suggest it may be overvalued relative to its peers, and its proximity to the 52-week high indicates potential technical overextension. The low current and quick ratios highlight liquidity concerns, while the Altman Z-score suggests financial vulnerability. These factors, combined with a meager earnings yield, paint a picture of a stock that may be priced for perfection without the fundamentals to back it up.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$13.66

Institutional Ownership %

1-Year Beta

0.84 Insider Buying % (6 Mo)

Distance to 52-Week High

3.76%

Distance to 52-Week Low

49.68%

EARNINGS SURPRISE %

52.24%

50-DAY SMA

$12.02

200-DAY SMA

$11.00

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.