WallStSmart

Fomento Economico Mexicano (FMX)vsSpotify Technology SA (SPOT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Fomento Economico Mexicano generates 4793% more annual revenue ($840.95B vs $17.19B). SPOT leads profitability with a 12.9% profit margin vs 2.3%. SPOT appears more attractively valued with a PEG of 1.99. SPOT earns a higher WallStSmart Score of 62/100 (C+).

FMX

Buy

59

out of 100

Grade: C

Growth: 8.0Profit: 5.5Value: 6.7Quality: 5.3
Piotroski: 2/9Altman Z: 2.46

SPOT

Buy

62

out of 100

Grade: C+

Growth: 8.0Profit: 8.0Value: 8.7Quality: 7.5
Piotroski: 4/9Altman Z: 2.66
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FMXUndervalued (+16.2%)

Margin of Safety

+16.2%

Fair Value

$135.25

Current Price

$105.80

$29.45 discount

UndervaluedFair: $135.25Overvalued
SPOTUndervalued (+12.6%)

Margin of Safety

+12.6%

Fair Value

$557.39

Current Price

$484.85

$72.54 discount

UndervaluedFair: $557.39Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FMX2 strengths · Avg: 9.0/10
EPS GrowthGrowth
63.8%10/10

Earnings expanding 63.8% YoY

Free Cash FlowQuality
$9.49B8/10

Generating 9.5B in free cash flow

SPOT4 strengths · Avg: 9.5/10
Return on EquityProfitability
31.9%10/10

Every $100 of equity generates 32 in profit

EPS GrowthGrowth
213.9%10/10

Earnings expanding 213.9% YoY

Market CapQuality
$97.70B9/10

Large-cap with strong market position

Debt/EquityHealth
0.289/10

Conservative balance sheet, low leverage

Areas to Watch

FMX4 concerns · Avg: 3.5/10
P/E RatioValuation
35.1x4/10

Premium valuation, high expectations priced in

Price/BookValuation
19.8x4/10

Trading at 19.8x book value

Profit MarginProfitability
2.3%3/10

2.3% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

SPOT3 concerns · Avg: 4.0/10
PEG RatioValuation
1.994/10

Expensive relative to growth rate

P/E RatioValuation
39.8x4/10

Premium valuation, high expectations priced in

Price/BookValuation
10.4x4/10

Trading at 10.4x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : FMX

The strongest argument for FMX centers on EPS Growth, Free Cash Flow.

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Market Cap.

Bear Case : FMX

The primary concerns for FMX are P/E Ratio, Price/Book, Profit Margin. Thin 2.3% margins leave little buffer for downturns.

Bear Case : SPOT

The primary concerns for SPOT are PEG Ratio, P/E Ratio, Price/Book.

Key Dynamics to Monitor

SPOT carries more volatility with a beta of 1.72 — expect wider price swings.

SPOT is growing revenue faster at 6.8% — sustainability is the question.

FMX generates stronger free cash flow (9.5B), providing more financial flexibility.

Monitor BEVERAGES - BREWERS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SPOT scores higher overall (62/100 vs 59/100). FMX offers better value entry with a 16.2% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Fomento Economico Mexicano

CONSUMER DEFENSIVE · BEVERAGES - BREWERS · USA

Fomento Econmico Mexicano, SAB de CV, is a bottler of Coca-Cola brand beverages. The company is headquartered in Monterrey, Mexico.

Spotify Technology SA

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Spotify Technology SA, provides audio streaming services worldwide. The company is headquartered in Luxembourg, Luxembourg.

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