Walmex stock weighs profit pressure against store expansion
Published on 11/10/2026 at 16:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth Meets Store Expansion
- Third-quarter revenue rose while EBITDA margin and net profit weakened.
- Mexico e-commerce and store-fulfilled sales were the clearest growth drivers.
- Management retained its 2026 constant-currency sales outlook.
Walmart de México y Centroamérica delivered higher third-quarter sales but weaker profit conversion in the quarter ended September 30, 2026. The latest figures point to continued digital momentum, while store expansion and price investments keep pressure on operating leverage.
Sales Growth Outruns Profit
As reported by ESM Magazine on November 2, consolidated revenue rose 3.0 percent year over year to MXN 248.8 billion, or 3.6 percent at constant exchange rates. Mexico revenue increased 3.1 percent to MXN 206.7 billion, while Central America grew 6.0 percent to MXN 42.1 billion.
Net sales reached MXN 247.0 billion. Same-store sales rose 1.7 percent in Mexico and 4.8 percent in Central America, with Mexico's average ticket up 1.6 percent while traffic remained broadly flat.
Digital Reach And New Stores
Mexico e-commerce net sales advanced 15.8 percent, supported by a 20.8 percent increase in store-fulfilled sales. Walmex operated 4,346 units across Mexico and Central America at quarter-end after opening 39 stores in Mexico and three in Central America during the quarter.
The expansion came with a softer earnings trend. EBITDA increased 0.4 percent to MXN 25.4 billion, but the EBITDA margin narrowed by 30 basis points to 10.2 percent. Quarterly net profit was MXN 11.0 billion, while gross margin held at 24.7 percent.
Outlook Keeps Execution Central
Management retained its 2026 consolidated sales-growth outlook of 3.5 percent to 4.5 percent at constant exchange rates. It also expects the EBITDA margin to finish slightly below the prior year's level, leaving productivity and cost control central to the next reporting cycle.
Walmex stock traded at 2.60 euros on Lang & Schwarz at 16:33 CET on Tuesday, November 10, 2026.
Walmex Company Facts
- Company: Walmart de México y Centroamérica
- ISIN: MX01WA000038
- Latest quote: 2.60 euros on Lang & Schwarz, November 10, 2026, at 16:33 CET
- Third-quarter revenue: MXN 248.8 billion
- 2026 sales outlook: 3.5 percent to 4.5 percent growth at constant exchange rates
Mexico's broader market context can be followed in Current market reports.
