Top 35 companies of Mexico in the IPC index 2019

View of Mexico City

The largest companies in Mexico greatly impact the country’s economy and beyond. Here are the thirty-five largest companies in the Mexican Stock Exchange presented with their activities, logos, and useful links.

Bolsa Mexicana logoIn Mexico, large companies are generally incorporated as Sociedad Anónima de Capital Variable (abbreviated as S.A. de C.V.), or Sociedad Anónima Bursátil de Capital Variable (abbreviated as S.A.B. de C.V.) to get publicly listed on the Mexican Stock Exchange, the Bolsa Mexicana de Valores – BMV.  They then have to abide by the rules of the securities regulatory agency but can also obtain capital from investors who buy their stocks.

The S&P BMV / IPC Index

To facilitate the appraisal of changes in the equity market and economy of Mexico, the stocks of the 35 largest Mexican companies, except Real Estate Investment Funds and subject to some diversification, are aggregated in the S&P/BMV IPC index (Indice de Precios y Cotizaciones) which is considered the benchmark index of Mexico.

Evolution of the IPC over 5 years
Evolution of the IPC over 5 years (Image: Bloomberg)

The real-time quotation of the IPC index can be followed with convenient graphical tools from a number of sources, including Yahoo Finance, Bloomberg, etc.

For more information on other world-leading companies, check our series of posts on Top Companies, and for more information on the country, read our articles on Top Business Resources for Mexico.

List of the 35 largest companies of the S&P/BMV IPC index by market capitalization

To help you know more about Mexican corporations, the 35 companies in the IPC index have been gathered hereafter. Each company is presented with details on its sector, operations, market capitalization, a direct link to its website, logo and stock symbol.

Companies are ranked by market Capitalization in Mexican Pesos as of effective close on Friday, August 23, 2019.

Note that if you are searching for information on these companies to invest in their stocks, make sure you know what you are doing as your investment will be subject to significant risks with the evolution of stock prices. To learn more about investing in the stock market and managing your portfolio, check our post on the best online courses on stock investing and trading.

Quick links to the 35 largest publicly listed companies in the Mexican BMV/IPC Index

So as to ease your browsing in this long list, here are quick links to go directly to the details of any of the top 35 IPC companies.

35. Genomma Lab Internacional

Genomma Lab Internacional logoSector: Healthcare

Genomma Lab Internacional, S.A. de C.V., is a company involved in the distribution of over-the-counter pharmaceutical, generic drugs, and personal care products. Genomma Lab Internacional has grown beyond Mexico with a presence in several countries of Latin America and the United States.

Website: – Market Cap.: MX$ 16.6 Billion – Stock Symbol: LABB

34. Bolsa Mexicana de Valores

Grupo BMV logoSector: Financial Services

Bolsa Mexicana de Valores, S.A.B. de C.V., also known as Grupo BMV or BMV Group, is a financial services company. It owns and operates the main stock exchange of Mexico, together with other financial services companies, including the derivatives exchange MexDer, the custody institution Indeval, and the market data provider ValMer.

Website: – Market Cap.: MX$ 21 Billion – Stock Symbol: BOLSA

33. Gentera

Gentera logoSector: Financials

Founded in 1990 as the microfinance bank Compartamos Banco, Gentera, S.A. de C.V., is involved in financial services. Gentera provides microcredit and financial solutions for fragile populations, especially women, but also for small businesses in Mexico, Peru, and Guatemala.

Website: – Market Cap.: MX$ 23.9 Billion – Stock Symbol: GENTERA

32. Regional

Regional logoSector: Financials

Regional, S.A. de C.V., commonly known as BanRegio, is a bank primarily doing business in central and northern Mexico. It provides banking services to small and medium-sized companies and individuals, including deposits, personal loans, e-banking, mortgage lending, and auto finance.

Website: – Market Cap.: MX$ 29 Billion – Stock Symbol: RA

31. Grupo Cementos de Chihuahua

Grupo Cementos de Chihuahua logoSector: Materials

Grupo Cementos de Chihuahua, S.A.B. de C.V., also known as GCC, produces, distributes and sells construction materials including gray Portland cement, ready-mix concrete, and aggregates. Founded in 1941, GCC has also expanded its operations beyond Mexico to the United States.

Website: – Market Cap.: MX$ 33 Billion – Stock Symbol: GCC

30. Alsea

Alsea logoSector: Restaurants

Alsea S.A., known as Alsea, is a multi-brand restaurant operator. Alsea fast-food, casual and cafeteria restaurant chains in Mexico, South America with brands including Starbucks, Burger King, Vips, Domino’s Pizza, Italianni’s, Chili’s, California Pizza Kitchen, P. F. Chang’s, and The Cheesecake Factory.

Website: – Market Cap.: MX$ 33.2 Billion – Stock Symbol: ALSEA

29. Banco del Bajío

Banco del Bajío logoSector: Financials

Banco del Bajio, S.A., operating as BanBajío, is one of the major and fastest-growing banks in Mexico. BanBajío provides various commercial banking and insurance products and services to individuals, businesses and public actors.

Website: – Market Cap.: MX$ 39 Billion – Stock Symbol: BBAJIOO

28. Grupo Aeroportuario del Centro Norte

Grupo Aeroportuario del Centro Norte logoSector: Transports

Grupo Aeroportuario Centro Norte, S.A.B. de C.V., known as OMA, is an airport operator. With 13 airports in central and northern Mexico, OMA serves approximately 15 million passengers annually.

Website: – Market Cap.: MX$ 43.3 Billion – Stock Symbol: OMAB

27. Alpek

Alpek logoSector: Materials

Alpek S.A.B. de C.V., is a chemical manufacturing company. Part of the ALFA conglomerate, Alpek produces a range of plastics and chemical compounds employed in manufacturing in production plants located in the United States, Mexico, Brazil, Argentina, and Chile.

Website: – Market Cap.: MX$ 45.1 Billion – Stock Symbol: ALPEKA

26. Megacable Holdings

Megacable Holdings logoSector: Telecommunications

Megacable Holdings, S. A. B. de C.V., is a diversified telecommunications company. Through its subsidiaries, especially including Megacable Comunicaciones, it operates cable television, provides internet and phone service and is also engaged in advertising sales and other associated telecommunications services.

Website: – Market Cap.: MX$ 66.4 Billion – Stock Symbol: MEGACPO

25. Promotora y Operadora de Infraestructura

Promotora y Operadora de Infraestructura logoSector: Infrastructure

Promotora y Operadora de Infraestructura, S. A. B. de C.V., commonly known as Pinfra, is a company operating infrastructures. Pinfra is engaged in the construction, management, financing and promotion of highways, ports, railroads, airports, parking lots and wastewater treatment plants. It is also involved in networks of drinking water, sewage, garbage collection, and sweeping services.

Website: – Market Cap.: MX$ 68 Billion – Stock Symbol: PINFRA

24. Mexichem

Mexichem logoSector: Materials

Mexichem, S. A. B. de C.V., is a chemical and petrochemical company. Mexichem notably produces plastic pipes and a range of products used in infrastructure, housing, telecommunications and water distribution in Mexico, the United States, Europe, Asia, Africa, the Middle East, and Latin America.

Website: – Market Cap.: MX$ 69.4 Billion – Stock Symbol: MEXCHEM

23. Gruma

Gruma logoSector: Food

Gruma, S.A.B. de C.V., is a multinational food manufacturing company. The world’s leading producer of corn flour and tortilla, Gruma also produces wheat flour, breads, and derivative products, rice and other staple foods. Present in more than 100 countries, Gruma’s brands include Mission Foods, Maseca, and Guerrero together with a range of local brands.

Website: – Market Cap.: MX$ 74 Billion – Stock Symbol: GRUMAB

22. Alfa

Alfa logoSector: Industrial Conglomerates

Alfa S.A., also known as Alfa or Alfa Group, is a multinational conglomerate primarily involved in industrial businesses. Alfa is engaged in the extraction of oil and natural gas and in the production of petrochemicals, in the manufacturing of aluminum auto components, in the production of refrigerated foods and in the provision of IT and telecommunications services. Based in Mexico, Alfa is also operating in the United States and more than 20 countries across the Americas, Europe, and Asia.

Website: – Market Cap.: MX$ 80 Billion – Stock Symbol: ALFAA

21. Grupo Aeroportuario del Sureste

Grupo Aeroportuario del Sureste logoSector: Transports

Grupo Aeroportuario del Sureste, S.A.B. de C.V., known as ASUR, is an airport operator. With 9 airports in southeastern Mexico, ASUR serves approximately 23 million passengers annually.

Website: – Market Cap.: MX$ 83.5 Billion – Stock Symbol: ASURB

20. Industrias Peñoles

Industrias Peñoles logoSector: Mining

Industrias Peñoles is the second-largest mining company in Mexico. A subsidiary of Grupo BAL, Industrias Peñoles is the world leader in the production of silver, also involved in the production of gold,  zinc, lead, copper, bismuth, and cadmium as well some chemical products.

Website: – Market Cap.: MX$ 84.4 Billion – Stock Symbol: PE&OLES

19. Grupo Televisa

Grupo Televisa logoSector: Media

Grupo Televisa, S.A.B., is the largest diversified media company in Hispanic America and the Spanish-speaking world. Grupo Televisa operates through multiple industries, including film and television, books, magazines and newspaper publishing, radio and web. The company also has activities in merchandising, investments, casinos and lottery.

Website: – Market Cap.: MX$ 89.2 Billion – Stock Symbol: TLEVISACPO

18. Cemex

Cemex logoSector: Materials

Cemex S.A, is the world’s second-largest building materials company. Founded in 1906, Cemex operates cement plants, ready-mix-concrete facilities, quarries, distribution centers, and marine terminals, manufacturing and distributing cement, ready-mix concrete, and aggregates in more than 50 countries.

Website: – Market Cap.: MX$ 93.2 Billion – Stock Symbol: CEMEXCPO

17. Grupo Aeroportuario del Pacífico

Grupo Aeroportuario del Pacífico logoSector: Transports

Grupo Aeroportuario del Pacífico, S.A.B. de C.V., known as GAP, is an airport operator. With 12 airports in western Mexico and 1 in Jamaica, GAP serves approximately 27 million passengers annually.

Website: – Market Cap.: MX$ 93.6 Billion – Stock Symbol: GAPB

16. Becle

Becle logoSector: Distillers & Wineries

Becle, S.A.B. de C.V., is a multinational spirits company and the world’s largest tequila company. Becle produces and distributes alcoholic and non-alcoholic beverages, ready to drink cocktails, and agricultural products in Mexico, the United States, and internationally. It operates through the Jose Cuervo family of brands, as well as Three Olives, Hangar 1, Stranahan’s, Bushmills and Boodles.

Website: – Market Cap.: MX$ 103.8 Billion – Stock Symbol: CUERVO

15. Infraestructura Energética Nova

Infraestructura Energética Nova logoSector: Utilities

Infraestructura Energética Nova, S.A.B. de C.V., commonly known as IEnova, is a utility company operating in the gas and electricity segments in Mexico. A subsidiary of Sempra Energy,  IEnova develops, builds and operates pipelines and infrastructures for natural gas and liquefied petroleum gas (LPG). It also manages a natural gas power plant and wind turbines.

Website: – Market Cap.: MX$ 111.9 Billion – Stock Symbol: IENOVA

14. Grupo Carso

Grupo Carso logoSector: Industrial Conglomerates

Grupo Carso is a diversified conglomerate operating in Mexico and Latin America. Through its subsidiaries, it operates in industrial businesses with Grupo Condumex, retail with Grupo Sanborns, infrastructure and construction with Carso Infraestructura y Construcción, and energy with Carso Energy.

Website: – Market Cap.: MX$ 118.2 Billion – Stock Symbol: GCARSO A1

13. Kimberly-Clark de México

Kimberly-Clark de México logoSector: Household Products

Kimberly-Clark de México, S.A.B. de C.V., a subsidiary of American corporation Kimberly-Clark, engages in the manufacture and commercialization of hygiene and health care products. Founded in 1931, the company’s products include diapers and childcare products, feminine pads, incontinence care products, bath tissue, napkins, facial tissue, hand and kitchen towels, wet wipes and health care products.

Website: – Market Cap.: MX$ 120.6 Billion – Stock Symbol: KIMBERA

12. El Puerto de Liverpool

El puerto de Liverpool logoSector: Retail

El Puerto de Liverpool, S.A.B. de C.V., commonly known as Liverpool, is a retail company operating a chain of department stores in Mexico, including the Liverpool and Fábricas de Francia names, as well as duty-free stores and specialized boutiques.

Website: – Market Cap.: MX$ 134 Billion – Stock Symbol: LIVEPOLC-1

11. Grupo Financiero Inbursa

Grupo Financiero Inbursa logoSector: Financials

Grupo Financiero Inbursa, more simply known as Inbursa, is a leading financial institution in Mexico. Through its subsidiaries, it operates business lines in investment funds, general, automobile and health insurance, mortgages, retirement funds, and commercial banking.

Website: – Market Cap.: MX$ 145.4 Billion – Stock Symbol: GFINBURO

10. Grupo Bimbo

Grupo Bimbo logoSector: Food

Grupo Bimbo, S.A.B. de C.V., is a multinational bakery product manufacturing company. Operating in 32 countries throughout America, Europe, Asia, and Africa, the company’s brands include Bimbo, Marinela, Oroweat as well as a diverse range of local brands.

Website: – Market Cap.: MX$ 154 Billion – Stock Symbol: BIMBOA

9. Banco Santander México

Banco Santander México logoSector: Financials

Banco Santander México is a subsidiary of Spanish bank Banco Santander. The bank offers a range of banking and insurance and related services to individuals, businesses and public actors across Mexico.

Website: – Market Cap.: MX$ 172.6 Billion – Stock Symbol: BSMXB

8. Arca Continental

Arca Continental logoSector: Soft Drinks

Arca Continental S.A.B. de C.V., commonly known Arca Continental or Arca Contal, is a beverage manufacturing and distribution company. Arca Continental produces soft drinks for brands owned or licensed by The Coca-Cola Company in Mexico, Ecuador, Peru, Northern Argentina, and the Southwestern United States.

Website: – Market Cap.: MX$ 178 Billion – Stock Symbol: AC

7. Coca-Cola FEMSA

Coca-Cola FEMSA logoSector: Soft Drinks

Coca-Cola FEMSA, S.A.B. de C.V., known as Coca-Cola FEMSA or KOF, is a multinational beverage company, subsidiary of FEMSA, owning 48%, with 28% held by subsidiaries of The Coca-Cola Company. Coca-Cola FEMSA is the largest franchise Coca-Cola bottler in the world, operating in Latin America and the Philippines.

Website: – Market Cap.: MX$ 239.9 Billion – Stock Symbol: KOFL

6. Grupo Financiero Banorte

Grupo Financiero Banorte logoSector: Financials

Grupo Financiero Banorte, commonly known as Banorte, is a leading financial institution in Mexico. Through its subsidiaries, it provides banking, brokerage, and warehousing services, as well as leasing and factoring operations. Banorte is also involved in insurance, retirement savings and international money transfer.

Website: – Market Cap.: MX$ 295.7 Billion – Stock Symbol: GFNORTEO

5. Grupo Elektra

Grupo Elektra logoSector: Financials

Grupo Elektra, S.A.B. de C.V., is a financial and retail company. It is a leader in specialized financial and commercial services in Latin America, also providing short-term non-banking loans in the United States.

Website: – Market Cap.: MX$ 321.5 Billion – Stock Symbol: ELEKTRA

4. Grupo México

Grupo México logoSector: Mining

Grupo México, S.A.B. de C.V., is the largest mining company from Mexico, also involved in rail transportation and infrastructure through its subsidiary, GMexico Transportes. With operations in Mexico, Peru, the United States, Argentina, Chile, Ecuador, and Spain, Grupo México is the world’s third-largest producer of copper.

Website: – Market Cap.: MX$ 335.2 Billion – Stock Symbol: GMEXICOB

3. Fomento Económico Mexicano

Fomento Económico Mexicano logoSector: Retail

Fomento Económico Mexicano, S.A.B. de C.V., operating as FEMSA, is a multinational beverage and retail company. Owning 48% of Coca-Cola FEMSA, FEMSA is also involved in retail through OXXO, the largest convenience store chain in Mexico with more than 14,000 stores. FEMSA is also the second-largest shareholder of Heineken International.

Website: – Market Cap.: MX$ 581.1 Billion – Stock Symbol: FEMSAUBD

2. América Móvil

América Móvil logoSector: Telecommunications

América Móvil, S.A.B. de C.V., is a telecommunications company. It is operating in Mexico through its subsidiary Telcel which is the country’s largest mobile operator, with a market share above 70%. The company also operates in many countries of Latin America and the Caribbean through its Claro subsidiaries.

Website: – Market Cap.: MX$ 870.5 Billion – Stock Symbol: AMXL

1. Walmart de México

Walmart de México y Centroamérica logoSector: Retail

Walmart de México, S. A. B. de C.V., also known as Walmex, is the largest subsidiary of Walmart outside the United States. It operates thousands of hypermarkets, discount department stores, and grocery stores across Mexico, Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica.

Website: – Market Cap.: MX$ 984.7 Billion – Stock Symbol: WALMEX

Here are the 35 largest public companies from Mexico. Do you think they are worth their market capitalization? Are their stocks a good investment right now? Do they have too much economic power… and maybe political power too?

Leave your comments below!

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