In this article, we are going to take a look at the 15 largest Mexican companies in 2022. To pass our detailed analysis, you can directly go to the 5 largest Mexican companies in 2022.
Mexico is a developing economy with the potential to be a major economy in the coming decades, but it is plagued by its demons. Mexico has the 15th largest GDP in nominal terms not to mention the 13th largest economy in terms of purchasing power parity. While the country was able to avoid any severe impact from the South American crisis in 2002, it was one of the hardest hit countries in Latin America during the 2008-2009 recession which led to a contraction in its GDP by 6%.
While the Mexican economy has enjoyed a period of high stability that has resulted in incredibly low interest and inflation rates, there is significant wealth inequality within the country, which has continued to increase these recent years, in line with global trends. Despite the aforementioned stability, Mexico has faced major problems, including lack of infrastructure, lack of modernization of tax and labor laws, not to mention of course the drug wars that have decimated much of the country. , which we will discuss later. Although it is a member of the Organization of Economically Developed Countries, it lags far behind most of the other members of the organization.
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Some of the progress Mexico has made include increased privatization while improving competition in various major industries such as telecommunications, natural gas, and power generation aimed to improve the quality of the country’s infrastructure. Exports play a major role in the country’s GDP, with its exports to Canada and the United States accounting for more than 90% of its exports and more than half of its imports.
We mentioned earlier that Mexico’s economy and growth are affected by the war on drugs in the country and the activities of several drug lords. According to one study, GDP per capita fell by 0.5% in states where military operations were carried out. The dominance of the cartels in Mexico cannot be underestimated: in some cases, their armament even exceeds that of the army while they are significantly more powerful than the police in most areas, leading to collusion between them .
According to Deloitte, Mexico has yet to recover from the massive losses suffered during the pandemic and just when it looked like the world was about to emerge from the pandemic and begin to rebuild, the Russia-Ukraine war began, plunging the world into further uncertainty. In 2020, the country’s economy contracted by 8.2% due to the pandemic, before growing by 4.8% in 2021. While some industries like agriculture and industrial activities picked up the pace of growth that was continuing before the pandemic, the service industry has yet to fully recover. This is why Mexico is not one of the fastest growing economies in 2022. In 2022, GDP is expected to grow by only 1.8%, but Mexico is likely to return to pre-pandemic levels by 2023. While unemployment levels are well better than it was at the height of the pandemic, the labor market still remains depressed, which, combined with rising inflation, will further increase wealth inequality and affect poverty in the country.
The largest companies in Mexico in 2022 have been rated based on their revenue, profit, assets, and market capitalization. For all data we have consulted Yahoo Finance for the latest information and where data has been provided in Mexican Peso we have converted it to USD. So, without further ado, let’s take a look at the giants of one of the largest developing countries in the world, starting with number 15:
15. Megacable Holdings
Total company revenue (in billions): 1.3
Total company profit (billion): 0.2
Total company assets (in billions): 2.8
Total company market capitalization (in billions): 6.1
The cable operator provides Internet and telephone services in Mexico, with service in more than 250 cities located in 25 states.
14. Becle
Total company revenue (in billions): 2.0
Total company profit (billion): 0.3
Total company assets (in billions): 4.9
Total company market capitalization (in billions): 7.7
Becle is a spirits company and is the largest tequila company in the world. It currently has more than 30 brands of alcoholic beverages while its products are available in 85 countries.
13. Electra Group
Total company revenue (in billions): 7.5
Total company profit (billion): 0.7
Total company assets (billions): 21.8
Total company market capitalization (in billions): 12.3
The financial and retail company is considered the largest non-bank provider of cash advance services in the United States and has operations in Latin America. It operates through more than 7,000 touchpoints around the world and has separate commercial and financial divisions.
12. Continental Arc
Total company revenue (in billions): 9.6
Total company profit (billion): 0.6
Total company assets (billions): 13.3
Total company market capitalization (in billions): 15.3
Producer of snacks and beverages, Arca Continental operated in Mexico, Ecuador and the United States. It is the second largest bottler of Coca-Cola in Latin America.
11. CEMEX, CV SAB (NYSE:CX)
Total company revenue (in billions): 14.5
Total company profit (billion): 0.8
Total company assets (billions): 26.7
Total company market capitalization (in billions): 6.3
Mexico’s largest building materials company, CEMEX, SAB de CV (NYSE: CX) is engaged in the manufacture and distribution of ready-mixed concrete, cement and aggregates. CEMEX, SAB de CV (NYSE: CX) operates in more than 50 countries and is considered one of the largest cement companies in the world. CEMEX, SAB de CV (NYSE: CX) currently operates more than 60 cement plants and 1,348 ready-mix concrete facilities in addition to hundreds of quarries and distribution centers.
10. Grupo Inbursa
Total company revenue (in billions): 2.5
Total company profit (billion): 1.1
Total company assets (billions): 29.4
Total company market capitalization (in billions): 11.6
One of the biggest Mexican companies in 2022, Grup Inbursa is a financial company owned by Mexican billionaire Carlos Slim. Among the many products offered by the company are general insurance, auto insurance, health insurance, mortgages, retirement funds and commercial banking.
9. Banco Santander México, SA, Institution de Banca Múltiple, Grupo Financiero Santander México (NYSE:BSMX)
Total company revenue (in billions): 3.5
Total company profit (billion): 1.1
Total assets of the company (in billions): 86.3
Total company market capitalization (in billions): 7.9
Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México (NYSE: BSMX) is the Mexican subsidiary of Banco Santander, a large Spanish bank. Founded over 30 years ago, Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México (NYSE: BSMX) is headquartered in Mexico City.
8. Coca-Cola FEMSA, CV SAB (NYSE:KOF)
Total company revenue (in billions): 10
Total company profit (billion): 0.8
Total company assets (billions): 14.0
Total company market capitalization (in billions): 13.9
Coca-Cola FEMSA, SAB de CV (NYSE:KOF) is jointly owned by FEMSA and The Coca-Cola Company, with the remaining shares listed on the Mexican and New York stock exchanges. The world’s largest bottler of Coca-Cola, Coca-Cola FEMSA, SAB de CV (NYSE:KOF) is present throughout Latin America. In 2015, Coca-Cola FEMSA, SAB de CV (NYSE:KOF) opened two $500 million bottling plants in Colombia and Brazil, while it purchased VONPAR in Brazil in 2016.
7. Fomento Económico Mexicano, SAB de CV (NYSE:FMX)
Total company revenue (in billions): 28.6
Total company profit (billion): 1.5
Total company assets (billions): 35.2
Total company market capitalization (in billions): 7.7
Fomento Económico Mexicano, SAB de CV (NYSE: FMX) is a beverage retail company headquartered in Monterrey. Operating the world’s largest independent Coca-Cola bottling group, Fomento Económico Mexicano, SAB de CV (NYSE: FMX) also operates the nation’s largest convenience store. The multinational is present in several Latin American countries.
6. Bimbo Group
Total company revenue (in billions): 17.9
Total company profit (billion): 0.8
Total company assets (billions): 15.8
Total company market capitalization (in billions): 18.9
The Mexican multinational is the largest food processing company in the country and operates in more than 33 countries and on five continents, including Asia, North America, South America, Africa and the United States. ‘Europe. The company has 134,000 employees in addition to 196 bakery factories and a global distribution network that includes more than 57,000 routes. There are more than 100 brands owned by the company.
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Disclosure: none. 15 largest Mexican companies in 2022 is originally published on Insider Monkey.
