NYSE : CX
CEMEX, S.A.B. de C.V. — Financial statements
Materials · Building Materials · Mexico
Last price 10.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 15.77B
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Financial statements
CEMEX, S.A.B. de C.V. (CX) reported revenue of 17.38B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 17.38B | 16.13B | 16.06B | 16.40B | 14.71B | 14.38B |
| Cost of Revenue | 11.56B | 10.93B | 10.77B | 10.97B | 10.30B | 9.82B |
| Gross Profit | 5.82B | 5.20B | 5.30B | 5.44B | 4.40B | 4.56B |
| Selling, General & Admin | 3.62B | 3.45B | 3.51B | 3.54B | 3.07B | 2.87B |
| Other Operating Expenses | -107.59M | |||||
| Operating Expenses | 3.51B | 3.45B | 3.51B | 3.54B | 3.07B | 2.87B |
| Operating Income | 2.31B | 1.75B | 1.78B | 1.90B | 1.33B | 1.69B |
| Interest Expense | -227.70M | -257.00M | -305.00M | -273.00M | -473.00M | -566.00M |
| Interest & Investment Income | 47.06M | 48.00M | 36.00M | 37.00M | 25.00M | 22.00M |
| Earnings From Equity Investments | 79.67M | 90.00M | 93.00M | 98.00M | 30.00M | 54.00M |
| Currency Exchange Gain (Loss) | -10.50M | 232.00M | -353.00M | 130.00M | 96.00M | -40.00M |
| Other Non Operating Income (Expenses) | -231.22M | -290.00M | -262.00M | -363.00M | -4.00M | 4.00M |
| EBT Excluding Unusual Items | 1.97B | 1.57B | 992.00M | 1.53B | 1.01B | 1.16B |
| Merger & Restructuring Charges | -179.00M | -179.00M | -10.00M | -2.00M | -20.00M | -17.00M |
| Impairment of Goodwill | -430.00M | -430.00M | -365.00M | |||
| Gain (Loss) on Sale of Investments | 139.00M | 48.00M | ||||
| Gain (Loss) on Sale of Assets | -67.76M | -67.00M | -8.00M | -160.00M | -73.00M | -97.00M |
| Asset Writedown | -72.98M | -108.00M | -122.00M | -43.00M | -77.00M | -513.00M |
| Other Unusual Items | 50.00M | 419.00M | ||||
| Pretax Income | 1.22B | 789.00M | 991.00M | 1.33B | 570.00M | 954.00M |
| Income Tax Expense | 517.04M | 385.00M | 67.00M | 1.21B | 168.00M | 137.00M |
| Earnings From Continuing Operations | 701.35M | 404.00M | 924.00M | 121.00M | 402.00M | 817.00M |
| Earnings From Discontinued Operations | -61.71M | 566.00M | 36.00M | 78.00M | 483.00M | -39.00M |
| Net Income to Company | 639.64M | 970.00M | 960.00M | 199.00M | 885.00M | 778.00M |
| Minority Interest in Earnings | -13.57M | -10.00M | -21.00M | -17.00M | -27.00M | -25.00M |
| Net Income | 626.07M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
| Net Income to Common | 626.07M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
| Shares Outstanding (Basic) | 14.47B | 14.51B | 14.47B | 14.50B | 14.52B | 14.71B |
| Shares Outstanding (Diluted) | 14.62B | 14.69B | 14.69B | 14.70B | 14.78B | 14.95B |
| EPS (Basic) | 0.04 | 0.07 | 0.06 | 0.01 | 0.06 | 0.05 |
| EPS (Diluted) | 0.04 | 0.07 | 0.06 | 0.01 | 0.06 | 0.05 |
| Free Cash Flow | 1.96B | 1.03B | 992.00M | 1.44B | 613.00M | 1.07B |
| Free Cash Flow Per Share | 0.13 | 0.07 | 0.07 | 0.10 | 0.04 | 0.07 |
| Dividend Per Share | 0.01 | 0.01 | ||||
| Gross Margin | 33.48% | 32.24% | 32.98% | 33.15% | 29.93% | 31.71% |
| Operating Margin | 13.29% | 10.85% | 11.10% | 11.59% | 9.06% | 11.74% |
| Profit Margin | 3.60% | 5.95% | 5.85% | 1.11% | 5.83% | 5.24% |
| Free Cash Flow Margin | 11.26% | 6.37% | 6.18% | 8.75% | 4.17% | 7.42% |
| EBITDA | 3.40B | 2.79B | 2.76B | 3.08B | 2.40B | 2.81B |
| EBITDA Margin | 19.56% | 17.29% | 17.18% | 18.75% | 16.35% | 19.53% |
| D&A For EBITDA | 1.09B | 1.04B | 976.00M | 1.17B | 1.07B | 1.12B |
| EBIT | 2.31B | 1.75B | 1.78B | 1.90B | 1.33B | 1.69B |
| EBIT Margin | 13.29% | 10.85% | 11.10% | 11.59% | 9.06% | 11.74% |
| Effective Tax Rate | 42.44% | 48.80% | 6.76% | 90.88% | 29.47% | 14.36% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 651.98M | 1.82B | 864.00M | 624.00M | 495.00M | 613.00M |
| Cash & Short-Term Investments | 651.98M | 1.82B | 864.00M | 624.00M | 495.00M | 613.00M |
| Accounts Receivable | 2.04B | 1.77B | 1.58B | 1.75B | 1.64B | 1.52B |
| Other Receivables | 792.57M | 151.00M | 143.00M | 156.00M | 160.00M | 115.00M |
| Receivables | 2.83B | 1.94B | 1.74B | 1.92B | 1.82B | 1.65B |
| Inventory | 1.50B | 1.53B | 1.49B | 1.79B | 1.67B | 1.26B |
| Other Current Assets | 1.05B | 809.00M | 928.00M | 669.00M | 543.00M | 704.00M |
| Total Current Assets | 6.03B | 6.10B | 5.02B | 5.00B | 4.53B | 4.22B |
| Property, Plant & Equipment | 11.51B | 12.17B | 11.24B | 12.47B | 11.28B | 11.32B |
| Long-Term Investments | 799.65M | 805.00M | 758.00M | 733.00M | 648.00M | 552.00M |
| Goodwill | 7.09B | 7.17B | 7.44B | 7.67B | 7.54B | 7.98B |
| Other Intangible Assets | 1.93B | 1.99B | 1.92B | 1.86B | 1.75B | 1.78B |
| Long-Term Deferred Tax Assets | 361.16M | 516.00M | 673.00M | 363.00M | 411.00M | 562.00M |
| Other Long-Term Assets | 245.21M | 199.00M | 251.00M | 336.00M | 285.00M | 226.00M |
| Total Assets | 27.97B | 28.95B | 27.30B | 28.43B | 26.45B | 26.65B |
| Accounts Payable | 2.91B | 3.09B | 3.09B | 3.11B | 2.97B | 2.76B |
| Accrued Expenses | 400.04M | 96.00M | 89.00M | 88.00M | 96.00M | 99.00M |
| Short-Term Debt | 219.00M | 990.00M | 167.00M | 15.00M | 49.00M | 5.00M |
| Current Portion of Long-Term Debt | 878.00M | 680.00M | 688.00M | 680.00M | 670.00M | |
| Current Portion of Leases | 226.65M | 267.00M | 269.00M | 272.00M | 258.00M | 265.00M |
| Current Income Taxes Payable | 480.05M | 438.00M | 469.00M | 1.08B | 368.00M | 437.00M |
| Current Unearned Revenue | 369.00M | 269.00M | 384.00M | 293.00M | 257.00M | |
| Other Current Liabilities | 2.13B | 1.22B | 1.06B | 1.15B | 836.00M | 885.00M |
| Total Current Liabilities | 6.37B | 7.35B | 6.09B | 6.79B | 5.55B | 5.38B |
| Long-Term Debt | 4.90B | 4.46B | 5.34B | 6.20B | 6.92B | 7.34B |
| Long-Term Leases | 732.32M | 868.00M | 902.00M | 986.00M | 918.00M | 911.00M |
| Long-Term Unearned Revenue | 22.00M | 27.00M | 32.00M | |||
| Pension & Post-Retirement Benefits | 550.42M | 588.00M | 559.00M | 735.00M | 695.00M | 999.00M |
| Long-Term Deferred Tax Liabilities | 601.33M | 601.00M | 548.00M | 443.00M | 394.00M | 485.00M |
| Other Long-Term Liabilities | 1.61B | 1.45B | 1.38B | 1.14B | 1.04B | 1.24B |
| Total Liabilities | 14.76B | 15.31B | 14.82B | 16.32B | 15.54B | 16.38B |
| Common Stock | 318.13M | 318.00M | 318.00M | 318.00M | 318.00M | 318.00M |
| Additional Paid-In Capital | 7.38B | 7.38B | 7.38B | 7.38B | 7.49B | 7.49B |
| Retained Earnings | 6.88B | 6.08B | 5.25B | 4.43B | 4.25B | 3.39B |
| Treasury Stock | -111.00M | -14.00M | ||||
| Comprehensive Income & Other | -1.68B | -446.00M | -770.00M | -363.00M | -1.44B | -1.36B |
| Total Common Equity | 12.90B | 13.33B | 12.18B | 11.76B | 10.50B | 9.83B |
| Minority Interest | 305.76M | 308.00M | 301.00M | 352.00M | 408.00M | 444.00M |
| Shareholders' Equity | 13.21B | 13.64B | 12.48B | 12.12B | 10.91B | 10.27B |
| Total Liabilities & Equity | 27.97B | 28.95B | 27.30B | 28.43B | 26.45B | 26.65B |
| Total Debt | 6.08B | 7.46B | 7.36B | 8.16B | 8.82B | 9.19B |
| Net Cash (Debt) | -5.42B | -5.64B | -6.49B | -7.54B | -8.33B | -8.57B |
| Net Cash Per Share | -0.37 | -0.38 | -0.44 | -0.51 | -0.56 | -0.57 |
| Filing Date Shares Outstanding | 14.49B | 14.49B | 14.49B | 14.49B | 14.49B | 14.71B |
| Total Common Shares Outstanding | 14.49B | 14.49B | 14.49B | 14.49B | 14.49B | 14.71B |
| Working Capital | -342.35M | -1.25B | -1.08B | -1.78B | -1.02B | -1.16B |
| Book Value Per Share | 0.89 | 0.78 | 0.70 | 0.67 | 0.66 | 0.60 |
| Tangible Book Value | 3.88B | 4.17B | 2.81B | 2.23B | 1.21B | 64.00M |
| Tangible Book Value Per Share | 0.27 | 0.15 | 0.06 | 0.02 | 0.01 | -0.06 |
| Land | 5.49B | 5.12B | 5.29B | 4.84B | 4.80B | |
| Buildings | 2.99B | 2.43B | 2.64B | 2.34B | 2.53B | |
| Machinery | 13.10B | 11.96B | 12.70B | 11.66B | 11.73B | |
| Construction In Progress | 1.19B | 1.40B | 1.93B | 1.67B | 1.26B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 626.07M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
| Depreciation & Amortization | 1.34B | 1.29B | 1.23B | 1.17B | 1.07B | 1.12B |
| Loss (Gain) From Sale of Assets | 760.00K | -23.00M | ||||
| Asset Writedown & Restructuring Costs | 460.14M | 538.00M | 122.00M | 43.00M | 442.00M | 509.00M |
| Loss (Gain) From Sale of Investments | -76.00M | -76.00M | -172.00M | -41.00M | -120.00M | |
| Loss (Gain) on Equity Investments | -79.67M | -90.00M | -93.00M | -98.00M | -30.00M | -54.00M |
| Other Operating Activities | -207.22M | -612.00M | -429.00M | 645.00M | -584.00M | -356.00M |
| Change in Accounts Receivable | -80.07M | -34.00M | 56.00M | -27.00M | -208.00M | -20.00M |
| Change in Inventory | 14.46M | 83.00M | 196.00M | 68.00M | -464.00M | -341.00M |
| Change in Accounts Payable | -8.92M | -225.00M | 159.00M | -45.00M | 290.00M | 290.00M |
| Change in Other Net Operating Assets | 90.21M | 144.00M | -188.00M | 196.00M | -8.00M | -72.00M |
| Operating Cash Flow | 2.70B | 1.98B | 1.98B | 2.29B | 1.37B | 1.84B |
| Capital Expenditures | -746.50M | -947.00M | -987.00M | -852.00M | -755.00M | -776.00M |
| Cash Acquisitions | -189.00M | |||||
| Divestitures | 74.93M | 965.00M | 1.02B | 341.00M | 122.00M | |
| Sale (Purchase) of Intangibles | -160.06M | -265.00M | -296.00M | -207.00M | -151.00M | -192.00M |
| Other Investing Activities | 95.99M | 50.00M | -65.00M | -94.00M | -75.00M | 573.00M |
| Investing Cash Flow | -856.32M | -197.00M | -328.00M | -1.34B | -640.00M | -273.00M |
| Long-Term Debt Issued | 3.07B | 5.05B | 3.93B | 2.01B | 4.95B | |
| Long-Term Debt Repaid | -3.58B | -5.98B | -4.28B | -2.79B | -6.29B | |
| Net Debt Issued (Repaid) | -1.06B | -516.00M | -931.00M | -347.00M | -783.00M | -1.34B |
| Repurchase of Common Stock | -111.00M | |||||
| Common Dividends Paid | -251.36M | -226.00M | -233.00M | -120.00M | -51.00M | -24.00M |
| Other Financing Activities | -1.09B | -54.00M | -89.00M | -234.00M | -16.00M | -488.00M |
| Financing Cash Flow | -2.40B | -796.00M | -1.25B | -701.00M | -961.00M | -1.85B |
| Foreign Exchange Rate Adjustments | 4.33M | -24.00M | -158.00M | -116.00M | 115.00M | -55.00M |
| Net Cash Flow | -546.17M | 958.00M | 240.00M | 129.00M | -118.00M | -337.00M |
| Free Cash Flow | 1.96B | 1.03B | 992.00M | 1.44B | 613.00M | 1.07B |
| Free Cash Flow Margin | 11.26% | 6.37% | 6.18% | 8.75% | 4.17% | 7.42% |
| Free Cash Flow Per Share | 0.13 | 0.07 | 0.07 | 0.10 | 0.04 | 0.07 |
| Levered Free Cash Flow | 1.37B | 1.21B | 323.75M | 2.10B | 455.50M | 749.25M |
| Unlevered Free Cash Flow | 1.51B | 1.37B | 514.38M | 2.27B | 751.12M | 1.10B |
| Cash Interest Paid | 363.49M | 446.00M | 551.00M | 524.00M | 493.00M | 524.00M |
| Cash Income Tax Paid | 312.55M | 301.00M | 854.00M | 488.00M | 136.00M | 170.00M |
| Change in Working Capital | 15.67M | -32.00M | 223.00M | 192.00M | -390.00M | -143.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.06B | 16.63B | 8.12B | 11.33B | 5.85B | 10.04B |
| Enterprise Value | 21.55B | 22.65B | 15.08B | 18.84B | 14.31B | 18.60B |
| Last Close Price | 10.70 | 11.40 | 5.54 | 7.53 | 3.94 | 6.59 |
| PE Ratio | 26.93 | 17.33 | 8.65 | 62.25 | 6.82 | 13.33 |
| PS Ratio | 0.90 | 1.03 | 0.51 | 0.69 | 0.40 | 0.70 |
| PB Ratio | 1.18 | 1.22 | 0.65 | 0.94 | 0.54 | 0.98 |
| P/TBV Ratio | 4.02 | 3.99 | 2.88 | 5.07 | 4.84 | 156.83 |
| P/FCF Ratio | 7.96 | 16.18 | 8.19 | 7.89 | 9.55 | 9.41 |
| P/OCF Ratio | 5.76 | 8.42 | 4.10 | 4.95 | 4.28 | 5.45 |
| EV/Sales Ratio | 1.21 | 1.40 | 0.94 | 1.15 | 0.97 | 1.29 |
| EV/EBITDA Ratio | 6.20 | 8.12 | 5.47 | 6.13 | 5.95 | 6.62 |
| EV/EBIT Ratio | 9.12 | 12.94 | 8.46 | 9.90 | 10.73 | 11.02 |
| EV/FCF Ratio | 10.76 | 22.03 | 15.20 | 13.12 | 23.34 | 17.43 |
| Debt / Equity Ratio | 0.46 | 0.55 | 0.59 | 0.67 | 0.81 | 0.89 |
| Debt / EBITDA Ratio | 1.66 | 2.45 | 2.44 | 2.65 | 3.67 | 3.27 |
| Debt / FCF Ratio | 3.10 | 7.26 | 7.42 | 5.68 | 14.40 | 8.61 |
| Net Debt / Equity Ratio | 0.41 | 0.41 | 0.52 | 0.62 | 0.76 | 0.83 |
| Net Debt / EBITDA Ratio | 1.59 | 2.02 | 2.35 | 2.45 | 3.46 | 3.05 |
| Net Debt / FCF Ratio | 2.77 | 5.48 | 6.55 | 5.25 | 13.59 | 8.04 |
| Asset Turnover | 0.61 | 0.57 | 0.58 | 0.60 | 0.55 | 0.53 |
| Inventory Turnover | 7.56 | 7.26 | 6.58 | 6.34 | 7.03 | 8.80 |
| Quick Ratio | 0.55 | 0.51 | 0.42 | 0.37 | 0.41 | 0.42 |
| Current Ratio | 0.95 | 0.83 | 0.82 | 0.74 | 0.82 | 0.79 |
| Return on Equity (ROE) | 5.17% | 3.09% | 7.51% | 1.05% | 3.80% | 8.50% |
| Return on Assets (ROA) | 5.07% | 3.89% | 4.00% | 4.33% | 3.14% | 3.90% |
| Return on Invested Capital (ROIC) | 7.06% | 4.69% | 8.61% | 0.89% | 4.94% | 7.59% |
| Return on Capital Employed (ROCE) | 10.70% | 8.10% | 8.40% | 8.80% | 6.40% | 7.90% |
| Earnings Yield | 3.71% | 5.77% | 11.56% | 1.61% | 14.66% | 7.50% |
| FCF Yield | 12.57% | 6.18% | 12.21% | 12.68% | 10.47% | 10.63% |
| Dividend Yield | 0.96% | 1.60% | 1.06% | |||
| Payout Ratio | 26.27% | 23.54% | 24.81% | 65.93% | 5.94% | 3.19% |
| Buyback Yield / Dilution | -2.07% | -0.04% | 0.10% | 0.54% | 1.12% | -1.65% |
| Total Shareholder Return | -1.07% | -0.04% | 1.70% | 1.59% | 1.12% | -1.65% |