Betterware de México, S.A.P.I. de C.V. (BWMX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$7.29	$7.54	+3.4%	—	$3.5B	—
Q4 25	$8.42	$6.7	-20.4%	—	$3.8B	—
Q3 25	$7.85	$8.42	+7.3%	—	$3.4B	—
Q2 25	$5.66	$9.63	+70.1%	—	$3.6B	—
Q1 25	$9.45	$4.06	-57.0%	—	$3.5B	—
Q4 24	$13	$11.7	-9.9%	—	$3.8B	—
Q3 24	$6.75	$4.84	-28.3%	—	$180.6M	—
Q2 24	$10.2	$6.37	-37.2%	—	$3.4B	—
Q1 24	$9.66	$8.33	-13.8%	—	$3.6B	—
Q4 23	$5.6	$11.4	+103.4%	—	$3.4B	—
Q3 23	$6.67	$5.28	-20.8%	—	$3.1B	—
Q2 23	$6.26	$7.2	+15.0%	—	$3.2B	—
Q1 23	$4.45	$5.15	+15.7%	—	$3.3B	—
Q4 22	$3.78	$5.62	+48.7%	—	$3.2B	—
Q3 22	$4.87	$0.17	-96.5%	—	$3.2B	—
Q2 22	$9.81	$5.99	-38.9%	—	$3.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$28.4	—	—	$14.2B	—
FY24	—	$19.1	—	—	$14.1B	—
FY23	—	$28.2	—	—	$13B	—
FY22	—	$19.7	—	—	$11.5B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.4B	$2.3B	$3.1B	$7.2B	$10.1B	$11.5B	$13B	$14.1B	$14.2B
YoY change	—	+59.8%	+33.1%	+134.6%	+39.1%	+14.3%	+13.1%	+8.39%	+1.01%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.4B	2.3B	3.1B	7.2B	10.1B	11.5B	13B	14.1B	14.2B
Cost of revenue	558.1M	958.5M	1.3B	3.3B	4.5B	3.6B	3.7B	4.5B	4.8B
Gross profit	891.6M	1.4B	1.8B	4B	5.6B	7.9B	9.3B	9.6B	9.5B
Gross margin	61.5%	58.6%	58.5%	54.7%	55.3%	68.9%	71.5%	67.9%	66.6%
Research & development	—	—	—	—	—	—	—	—	—
Selling, general & administrative	560.7M	806.5M	991.6M	1.9B	3B	5.9B	7B	6.8B	6.9B
Operating expenses	560.7M	806.5M	991.6M	1.9B	3B	5.9B	7B	7.4B	6.9B
Operating income	330.9M	551.7M	812.2M	2.1B	2.6B	2.1B	2.3B	1.9B	2.3B
Operating margin	22.8%	23.8%	26.3%	28.5%	25.8%	17.8%	18%	13.1%	15.8%
Non-operating income, net	71.2M	-22.7M	-29M	-1.2B	10.6M	-148.8M	-139.4M	-55.1M	-28.8M
Pretax income	304.6M	449.4M	704.8M	824.1M	2.6B	1.4B	1.4B	1.2B	1.7B
Income tax	97M	150.2M	232.7M	525.7M	814.6M	516.9M	384.4M	469.3M	661M
Net income	207.7M	299.3M	472.1M	298.4M	1.7B	870M	1B	711.5M	1.1B
Net margin	14.3%	12.9%	15.3%	4.12%	17.4%	7.56%	8.05%	5.05%	7.45%
EBITDA	375.8M	584.4M	857.7M	2.1B	2.7B	2.4B	2.8B	2.3B	2.7B
EPS	6.03	8.69	13.7	9.72	49	19.7	28.2	19.1	28.4
Diluted EPS	6.03	8.69	13.7	9.72	49	19.7	28.2	19.1	28.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.1B	3.4B	3.6B	3.4B	180.6M	3.8B	3.5B	3.6B	3.4B	3.8B	3.5B	4.2B
Cost of revenue	930.6M	1B	951.6M	940.9M	52M	1.7B	1.2B	1.2B	1.1B	1.3B	1.2B	1.4B
Gross profit	2.2B	2.4B	2.7B	2.4B	128.6M	2.1B	2.3B	2.4B	2.3B	2.5B	2.3B	2.7B
Gross margin	70.2%	70%	73.6%	72.2%	71.2%	55.8%	66.2%	67.1%	68.5%	64.7%	66.3%	65.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.8B	1.7B	2B	1.9B	101.8M	1.1B	1.9B	1.8B	1.7B	1.5B	1.8B	2B
Operating expenses	1.8B	1.7B	2B	1.9B	101.8M	1.1B	1.9B	1.8B	1.7B	1.5B	1.8B	2B
Operating income	438.1M	722M	660M	557.9M	26.8M	140.8M	433.9M	582.2M	627.1M	614.3M	519.2M	681.3M
Operating margin	14%	21.2%	18.3%	16.5%	14.8%	3.73%	12.4%	16.3%	18.6%	16.1%	14.8%	16.4%
Non-operating income, net	4.7M	-30.3M	-45.8M	55.1M	-20.6M	315.4M	-24.2M	-12.5M	1M	6.9M	-12.1M	-1.3M
Pretax income	246.9M	502M	456.5M	453.7M	-2.4M	314.9M	279.7M	433.4M	501.7M	507M	419.1M	562.9M
Income tax	50.1M	95.5M	162.2M	153M	3.9M	82.7M	129M	106.7M	188.1M	237.3M	137.7M	168.3M
Net income	196.9M	406.4M	294.2M	300.7M	-6.3M	232.2M	150.7M	326.7M	313.6M	269.8M	281.4M	394.6M
Net margin	6.3%	11.9%	8.17%	8.87%	-3.47%	6.14%	4.31%	9.17%	9.29%	7.09%	8.02%	9.48%
EBITDA	541.3M	825.2M	762.1M	763.1M	27.2M	243.7M	551.3M	788.1M	727.6M	715.5M	621.6M	784.9M
EPS	5.28	10.9	7.88	8.06	-3.1	6.04	4.06	8.77	8.42	7.18	7.54	10
Diluted EPS	5.28	10.9	7.88	8.06	-3.1	6.04	4.06	8.77	8.42	7.18	7.54	10

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	7.3B	25.8B	16.2B	5B	10.1B	—	530.3M	631.7M
Enterprise value	—	—	7.8B	25.8B	16.5B	10.6B	15.1B	—	4.7B	443.1M
Shares outstanding	712.2M	712.2M	712.2M	756.3M	771.4M	771.4M	726.2M	37.3M	37.3M	37.3M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	15.4	86.5	9.25	5.69	9.67	—	0.5	6.6
P/S	—	—	2.36	3.57	1.61	0.43	0.78	—	0.04	0.04
P/B	—	—	26.5	29.3	13.5	4.51	6.87	—	0.39	5.1
EV/EBITDA	—	—	9.06	12.2	6.1	4.47	5.45	—	1.74	2.95
EV/Sales	—	—	2.52	3.57	1.64	0.92	1.16	—	0.33	0.53
Earnings yield	—	—	6.49%	1.16%	10.8%	17.6%	10.3%	—	200.1%	15.2%
FCF yield	—	—	5.81%	4.66%	6.58%	24.9%	22.1%	—	400.2%	-14.7%
PEG	—	—	—	—	—	—	—	—	—	0.47

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	61.5%	58.6%	58.5%	54.7%	55.3%	68.9%	71.5%	67.9%	66.6%	65.5%
Operating margin	22.8%	23.8%	26.3%	28.5%	25.8%	17.8%	18%	13.1%	15.8%	16.4%
Net margin	14.3%	12.9%	15.3%	4.12%	17.4%	7.56%	8.05%	5.05%	7.45%	8.47%
ROE	—	372.9%	172%	33.8%	145.6%	79.3%	71.1%	61.2%	78%	73%
ROA	—	20.5%	26.4%	6.85%	33.7%	7.68%	9.44%	6.81%	11.1%	12.1%
ROIC	—	66%	71.3%	84.3%	114.3%	19.1%	26.7%	18.5%	25.3%	16.2%
Return on tangible assets	—	219.2%	100.3%	9.87%	47.2%	18.7%	22.8%	17.3%	31.3%	48.2%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	0.99	1	0.99	1.37	1.39	1.04	0.95	0.92	1.11
Quick ratio	—	0.58	0.61	0.55	0.84	0.71	0.51	0.43	0.45	0.57
Debt / equity	—	8.14	2.56	0.74	1.27	5.87	3.74	4.45	3.28	3.39
Debt / assets	—	0.45	0.39	0.15	0.29	0.57	0.5	0.49	0.47	0.52
Net debt / EBITDA	—	0.81	0.57	0	0.13	2.38	1.79	2.15	1.54	2.54
Interest coverage	3.58	6.21	9.25	11.3	34.8	3.55	2.74	2.85	4.18	5.22
Effective tax rate	31.8%	33.4%	33%	63.8%	31.8%	37.3%	26.9%	39.7%	38.4%	36.7%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.04	3.25	4.33	9.57	13.1	14.9	17.9	377.9	381.7	454.3
EPS (basic)	6.03	8.69	13.7	9.72	49	19.7	28.2	19.1	28.4	28.4
EPS (diluted)	6.03	8.69	13.7	9.72	49	19.7	28.2	19.1	28.4	2.59
Book value per share	—	0.11	0.39	1.17	1.56	1.42	2.03	31.2	36.4	3.35
FCF per share	0.48	0.45	0.59	1.59	1.38	1.6	3.08	43	56.9	-17.6
Cash per share	—	0.25	0.3	0.86	1.52	1.06	0.76	7.95	8.8	13.2
Capex per share	0.05	0.01	0.26	0.79	0.5	0.2	0.15	0.62	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.3%	0.3%	5.92%	8.28%	3.87%	1.33%	0.85%	0.17%	—	—
Capex / operating cash flow	7.54%	1.18%	21.7%	47.7%	15.1%	8.39%	3.85%	1.15%	—	—
Payout ratio	0%	78.6%	72.6%	278.1%	80.1%	109.2%	62%	140.3%	80.1%	48.7%
Dividend yield	—	—	4.71%	3.21%	8.66%	19.2%	6.41%	—	160.3%	8.5%

Yield

8.5%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.361

ex-dividend Aug 6, 2026

Payout ratio

49%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 6, 2026	$0.361
May 12, 2026	$0.306
Mar 9, 2026	$0.31
Aug 11, 2025	$0.285
May 12, 2025	$0.274
Mar 18, 2025	$0.3212
Nov 8, 2024	$0.3378
Jul 30, 2024	$0.34

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.1B	$3.4B	$3.6B	$3.4B	$180.6M	$3.8B	$3.5B	$3.6B	$3.4B	$3.8B	$3.5B	$4.2B
YoY change	-1.51%	+5.07%	+10.4%	+5.26%	-94.2%	+11.1%	-2.87%	+5.11%	+1.8K%	+0.67%	+0.3%	+16.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	177.4M	213.7M	649.8M	1.2B	815.6M	549.7M	296.6M	328.3M
Receivables	198.8M	247.1M	735M	745.6M	971.1M	1.1B	1.3B	1.2B
Inventory	302.2M	345.6M	1.3B	1.3B	2.1B	2B	2.5B	2B
Total current assets	729.9M	880.7M	2.9B	3.4B	4.4B	4B	4.5B	3.9B
Property, plant & equipment	80.5M	231.2M	489.4M	699.3M	2B	1.9B	808.4M	720M
Goodwill & intangibles	1.3B	1.3B	1.3B	1.5B	6.7B	6.5B	6.3B	6.2B
Total assets	1.5B	1.8B	4.4B	5.2B	11.3B	11.1B	10.5B	9.6B
Accounts payable	445.2M	529.3M	2.1B	2B	1.5B	1.8B	2.2B	1.8B
Short-term debt	90.7M	162.3M	113.6M	34.2M	315.8M	625.8M	1.3B	1.2B
Total current liabilities	734.4M	878.4M	2.9B	2.4B	3.1B	3.8B	4.8B	4.3B
Long-term debt	562.8M	540M	540.7M	1.5B	6.1B	4.9B	3.9B	3.3B
Total liabilities	1.4B	1.5B	3.5B	4B	10.2B	9.6B	9.3B	8.2B
Shareholders' equity	80.3M	274.5M	882M	1.2B	1.1B	1.5B	1.2B	1.4B
Total debt	653.5M	702.3M	654.3M	1.5B	6.4B	5.5B	5.2B	4.5B
Net debt	476.1M	488.6M	4.4M	353.1M	5.6B	5B	4.9B	4.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	496.1M	549.7M	425.2M	423.2M	17.2M	296.6M	344.1M	391.8M	333.5M	328.3M	311.8M	521.1M
Receivables	1.3B	1.1B	1.2B	1.1B	65.1M	1.3B	1.2B	1.1B	1.2B	1.2B	1.2B	1.5B
Inventory	2.2B	2B	1.9B	2.1B	135.8M	2.5B	2.5B	2.4B	2.3B	2B	2.1B	2.7B
Total current assets	4.4B	4B	3.9B	4B	255.9M	4.5B	4.8B	4.6B	4.4B	3.9B	4.2B	5.6B
Property, plant & equipment	3.2B	1.9B	3.2B	3.2B	131M	808.4M	2B	2B	2B	720M	2B	2.4B
Goodwill & intangibles	6.5B	6.5B	6.5B	6.4B	346M	6.3B	6.3B	6.3B	6.2B	6.2B	6.2B	12.3B
Total assets	11.3B	11.1B	10.9B	11B	589.1M	10.5B	10.7B	10.4B	10.1B	9.6B	9.8B	14.9B
Accounts payable	1.9B	1.8B	1.7B	2B	128.7M	2.2B	2B	1.8B	1.7B	1.8B	2.1B	2.3B
Short-term debt	687.9M	625.8M	654M	702.7M	39.4M	1.3B	1.9B	1.9B	1.8B	1.2B	1.3B	1B
Total current liabilities	4.1B	3.8B	3.8B	3.9B	239.6M	4.8B	5.2B	5B	4.7B	4.3B	4.5B	5B
Long-term debt	5B	4.9B	4.8B	4.7B	246.7M	3.9B	3.7B	3.6B	3.4B	3.3B	3.1B	6.7B
Total liabilities	10B	9.6B	9.4B	9.5B	524.9M	9.3B	9.6B	9.2B	8.8B	8.2B	8.3B	12.6B
Shareholders' equity	1.3B	1.5B	1.5B	1.6B	64.1M	1.2B	1.1B	1.2B	1.3B	1.4B	1.5B	2.3B
Total debt	5.7B	5.5B	5.4B	5.4B	286M	5.2B	5.7B	5.5B	5.2B	4.5B	4.4B	7.8B
Net debt	5.2B	5B	5B	5B	268.9M	4.9B	5.3B	5.1B	4.9B	4.1B	4.1B	7.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	207.7M	299.3M	472.1M	298.4M	1.7B	870M	1B	711.5M	1.1B
Depreciation & amortization	24.2M	26M	38.4M	43.7M	82.1M	287.7M	375.1M	392.2M	389.5M
Stock-based compensation	—	0	0	32.9M	0	6M	4.2M	0	0
Change in working capital	15.3M	25.8M	19.6M	287.8M	-68.8M	-376.7M	318.1M	-160.9M	18.9M
Operating cash flow	441.8M	581.1M	841.6M	1.3B	2.6B	1.8B	2.9B	2B	2.2B
Capital expenditure	-33.3M	6.8M	-182.6M	-599.4M	-389.2M	-153.6M	-110.4M	-23.3M	—
Investing cash flow	-33.3M	6.8M	-182.6M	-642.3M	-346.3M	-4.9B	-110.4M	-23.3M	-896K
Dividends paid	0	-235.1M	-343M	-830M	-1.4B	-949.6M	-648.7M	-998.1M	-850M
Share repurchases	—	—	—	0	0	-25.3M	0	0	—
Financing cash flow	-174.1M	-320.1M	-310.9M	-633.4M	-570.7M	3.6B	-1.9B	-1.4B	-1.7B
Net change in cash	234.4M	267.9M	348.1M	-18.7M	1.7B	536M	841.4M	550.4M	498M
Free cash flow	339M	316.9M	422.8M	1.2B	1.1B	1.2B	2.2B	1.6B	2.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	196.9M	406.4M	294.2M	594.9M	-22.5M	232.2M	150.7M	477.4M	313.6M	269.8M	281.4M	394.6M
Depreciation & amortization	91.3M	97.5M	95.4M	193.6M	305.5K	101.1M	101.4M	198M	95.1M	96.5M	90.7M	99.2M
Stock-based compensation	0	7.9M	-8.9M	-8.9M	482.3K	8.9M	0	0	—	—	—	—
Change in working capital	-28.2M	77.6M	-114.4M	-23M	7.3M	-157.4M	-230.6M	-40.2M	-156.9M	389.4M	167.6M	57.6M
Operating cash flow	516.1M	826.6M	589.7M	1.4B	-19.1M	386.8M	282.4M	1B	570.6M	1.1B	368.1M	613.1M
Capital expenditure	-21.7M	-75M	-24.6M	-99.5M	4.1M	24.9M	-12.9M	-38.5M	—	—	—	—
Investing cash flow	-21.7M	-75M	-24.6M	-99.5M	4.1M	24.9M	-12.9M	-38.5M	—	—	0	-196.8M
Dividends paid	-199.6M	-199.6M	-249.5M	-499M	0	-249.5M	-249.5M	-449.1M	-199.6M	-201.3M	-199.6M	-198.5M
Share repurchases	0	0	0	0	—	—	0	—	—	—	—	—
Financing cash flow	-385.3M	-486.2M	-307.6M	-655.8M	-1.2M	-461.3M	252.9M	-192.9M	-458M	-1.1B	-248.8M	3.1B
Net change in cash	109.1M	265.4M	257.5M	640.2M	-16.1M	-49.7M	522.4M	781.1M	112.6M	5.4M	119.3M	3.5B
Free cash flow	288.2M	655.1M	356.8M	811M	-3.2M	496.9M	-56.5M	531.9M	551.8M	1B	350.9M	-2.6B

Betterware de México, S.A.P.I. de C.V. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement