Stocks CX Financial statements
Financial statementsCEMEX SAB DE CV financial statements
Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data CEMEX SAB DE CV files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12,926 | 13,531 | 12,959 | 12,669 | 14,379 | 14,706 | 16,554 | 16,200 |
| Cost of revenue | 8,365 | 8,849 | 8,714 | 8,586 | 9,743 | 10,221 | 10,979 | 10,761 |
| Gross profit | 4,561 | 4,682 | 4,245 | 4,083 | 4,636 | 4,485 | 5,575 | 5,439 |
| Selling, general and administrative | 1,470 | 1,378 | 1,280 | 1,390 | 1,747 | 1,774 | ||
| General and administrative | 1,091 | 1,130 | 1,104 | 1,049 | 958 | 1,046 | 1,354 | 1,336 |
| Operating income | 1,530 | 1,407 | 965 | -471 | 1,637 | 873 | 1,748 | 1,821 |
| Pre-tax income | 661 | 717 | 238 | -1,310 | 954 | 570 | 1,323 | 980 |
| Income tax | 16 | 224 | 157 | 36 | 137 | 168 | 1,204 | 67 |
| Income from continuing operations | 645 | 493 | 81 | -1,346 | 817 | 402 | 119 | 913 |
| Net income to minority interests | 75 | -42 | -36 | -21 | -25 | -27 | -17 | -21 |
| Net income | 792 | 528 | 143 | -1,467 | 753 | 858 | 182 | 939 |
| EBITDA | 2,493 | 2,389 | 2,004 | 634 | 2,757 | 1,945 | 2,938 | 3,071 |
| EPS, basic | 0.02 | 0.01 | 0.00 | -0.03 | 0.02 | 0.02 | 0.00 | 0.02 |
| EPS, diluted | 0.02 | 0.01 | 0.00 | -0.03 | 0.02 | 0.02 | 0.00 | 0.02 |
Balance sheet
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 699 | 309 | 788 | 950 | 613 | 495 | 624 | 864 |
| Short-term investments | 14.1 | 15.1 | ||||||
| Inventory | 1,081 | 989 | 971 | 1,261 | 1,669 | 1,789 | 1,485 | |
| Total current assets | 3,421 | 4,579 | 4,235 | 4,225 | 4,526 | 5,005 | 5,016 | |
| Property, plant and equipment | 11,588 | 11,232 | 10,565 | 10,170 | 10,202 | 10,156 | 11,272 | 10,152 |
| Lease right-of-use assets | 1,222 | 1,285 | 1,243 | 1,120 | 1,128 | 1,194 | 1,088 | |
| Goodwill | 9,948 | 9,912 | 9,562 | 8,506 | 7,984 | 7,538 | 7,674 | 7,441 |
| Intangible assets | 2,006 | 2,024 | 2,028 | 1,746 | 1,779 | 1,755 | 1,856 | 1,920 |
| Total assets | 29,181 | 29,363 | 27,425 | 26,650 | 26,447 | 28,433 | 27,299 | |
| Short-term debt | 7 | 55 | 105 | 68 | 2 | 10 | 22 | |
| Total current liabilities | 4,795 | 5,409 | 5,352 | 5,380 | 5,546 | 6,786 | 6,092 | |
| Total liabilities | 18,128 | 18,539 | 18,473 | 16,379 | 15,538 | 16,317 | 14,822 | |
| Total debt | 9,873 | 9,311 | 9,365 | 9,339 | 7,379 | 6,971 | 6,228 | 5,529 |
| Retained earnings | 1,622 | 1,621 | 2,635 | 3,388 | 4,246 | 4,428 | 5,247 | |
| Shareholders' equity | 9,481 | 9,321 | 8,075 | 9,827 | 10,501 | 11,764 | 12,176 | |
| Minority interests | 7,859 | 352 | 301 | |||||
| Total equity | 10,598 | 11,059 | 10,824 | 8,952 | 10,271 | 10,909 | 12,116 | 12,477 |
| Total liabilities and equity | 29,181 | 29,363 | 27,425 | 26,650 | 26,447 | 28,433 | 27,299 |
Cash flow statement
| FY2017 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |
|---|---|---|---|---|---|---|---|---|
| Net income | 867 | 570 | 179 | -1,446 | 778 | 885 | 199 | 960 |
| Depreciation and amortization | 963 | 982 | 1,039 | 1,105 | 1,120 | 1,072 | 1,190 | 1,250 |
| Cash from operations | 1,845 | 1,567 | 1,355 | 1,594 | 1,843 | 1,368 | 2,222 | 1,894 |
| Capital expenditures | -567 | -601 | -651 | -538 | -776 | -755 | -865 | -1,000 |
| Cash from investing | 553 | -815 | -262 | 87 | -273 | -640 | -1,322 | -328 |
| Debt issued | 2,325 | 3,331 | 4,210 | 3,960 | 2,006 | 2,938 | 5,048 | |
| Debt repaid | -2,745 | -3,284 | -4,572 | -5,897 | -2,420 | -3,840 | -5,497 | |
| Share buybacks | -75 | -50 | -83 | 0 | -111 | 0 | ||
| Dividends paid | -150 | -90 | ||||||
| Cash from financing | -2,390 | -1,163 | -604 | -1,520 | -1,852 | -961 | -701 | -1,253 |
| Exchange rate effect | 130 | 21 | -10 | 1 | -55 | 115 | -70 | -73 |
| Net change in cash | -123 | -543 | 418 | 112 | -302 | -292 | 128 | 259 |
| Free cash flow | 1,278 | 966 | 704 | 1,056 | 1,067 | 613 | 1,357 | 894 |
| Income taxes paid | 246 | 207 | 168 | 124 | 170 | 136 | 515 | 878 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 33.6% | Gross profit / revenue. |
| Operating margin | 11.2% | Operating income / revenue. |
| EBITDA margin | 19.0% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 6.0% | Pre-tax income / revenue. |
| Net margin | 5.8% | Net income / revenue. |
| FCF margin | 5.5% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 11.7% | Cash from operations / revenue. |
| Effective tax rate | 6.8% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 7.8% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 3.4% | Net income / average total assets. |
| Return on invested capital (ROIC) | 9.9% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| SG&A / revenue | 11.0% | Selling, general and administrative expense / revenue. |
| Capex / revenue | 6.2% | Capital expenditures / revenue. |
| D&A / revenue | 7.7% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -2.1% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 4.1% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 4.6% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | -2.4% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 5.5% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 5.1% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | 4.2% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | 3.6% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating income CAGR, 5y | 13.5% | Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EBITDA growth, 1y | 4.5% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | 3.7% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 8.9% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 415.9% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 7.6% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 45.7% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 419.5% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 8.2% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 47.0% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -14.8% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 0.9% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 6.9% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -34.1% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -5.7% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 4.9% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 3.5% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 7.4% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 5.5% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | -4.0% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 0.8% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | -1.4% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 0.82x | Current assets / current liabilities. |
| Quick ratio | 0.14x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.14x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 0.45x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 20.3% | Total debt / total assets. |
| Liabilities / assets | 54.3% | Total liabilities / total assets. |
| Net debt | $4.67B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Net debt / EBITDA | 1.52x | Net debt / EBITDA (twelve months), when EBITDA is positive. |
| Working capital | -$1.08B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 34.3% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $2.82B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.58x | Revenue / average total assets. |
| Fixed asset turnover | 1.51x | Revenue / average property, plant and equipment. |
| Inventory turnover | 6.57x | Cost of revenue / average inventory. |
| Days inventory | 56 days | 365 x average inventory / cost of revenue. |
| FCF conversion | 95.2% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 52.8% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $0.02 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| EPS, basic | $0.02 | Net income per basic share, as reported (split-adjusted). |
| Payout ratio | 9.6% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 10.1% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $14.45B | Share price x shares outstanding. |
| Enterprise value | $19.11B | Market cap + total debt - cash - short-term investments. |
| P/E | 15.4x | Market cap / net income. Only when net income is positive. |
| P/S | 0.89x | Market cap / revenue. |
| P/B | 1.19x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 5.13x | Market cap / tangible book value, when positive. |
| P/FCF | 16.2x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 7.63x | Market cap / cash from operations, when positive. |
| EV/Sales | 1.18x | Enterprise value / revenue. |
| EV/EBIT | 10.5x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 6.22x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 21.4x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 6.2% | Free cash flow / market cap. |
| Earnings yield | 6.5% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 0.6% | Dividends paid over the period / market cap. |
| Shareholder yield | 0.6% | (Dividends paid + share buybacks) / market cap. |
| PEG | 1.87x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was CEMEX SAB DE CV's revenue in fiscal 2024?
CEMEX SAB DE CV reported revenue of $16.20B for fiscal 2024, 2.1% lower than the year before.
Was CEMEX SAB DE CV profitable in fiscal 2024?
Yes. Net income was $939.0M, a net margin of 5.8%.
How much free cash flow did CEMEX SAB DE CV generate in fiscal 2024?
Cash from operations of $1.89B minus capital expenditures of $1.00B left free cash flow of $894.0M.