CEMEX, S.A.B. de C.V.
- Open
- 13.03
- Day high
- 13.05
- Day low
- 12.47
- Prev close
- 12.97
- Volume
- 4.9M
- Mkt cap
- $18.0B
- P/E (TTM)
- 1.6
- EPS (TTM)
- $7.79
- P/B
- 1.4
- P/S
- 1.1
- Yield
- 0.79%
- Per share
- $0.10
- ▼Insiders net selling -$426K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
CEMEX, S.A.B. de C.V. (CX) is a Basic Materials company listed on NYSE. The stock is up 64% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
CEMEX, S.A.B. de C.V. (CX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.11 | $0.16 | +52.2% | $4.0B | +4.3% |
| Feb 5, 2026 | $0.19 | $-0.19 | -201.4% | $4.2B | +3.8% |
| Oct 28, 2025 | $0.18 | $0.16 | -9.0% | $231M | -94.3% |
| Jul 24, 2025 | $0.18 | $0.23 | +30.2% | $221M | -94.7% |
| Feb 6, 2025 | $0.10 | $0.16 | +60.0% | $3.8B | -1.1% |
| Jul 25, 2024 | $0.24 | $0.17 | -29.2% | $4.4B | -8.3% |
| Apr 25, 2024 | $0.13 | $0.17 | +30.8% | $3.9B | -5.5% |
| Feb 8, 2024 | $0.13 | $-0.30 | -334.7% | $4.2B | +0.2% |
| Oct 26, 2023 | $0.23 | $0.09 | -60.9% | $4.4B | -3.2% |
| Jul 27, 2023 | $0.19 | $0.18 | -5.3% | $4.2B | -4.2% |
| May 2, 2023 | $0.09 | $0.02 | -76.9% | $4.0B | +2.7% |
| Feb 13, 2023 | $0.11 | $-0.12 | -211.1% | $3.9B | -0.2% |
CX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Martinez Merla Jaimeofficer: Chief Comptroller | Grant | 7,650 | — |
| Jun 17, 2026 | Gonzalez Flores Jose Antonioofficer: EVP Strat. Plan. & Bus. Dev. | Tax | 32,922 | $12.25 |
| Jun 17, 2026 | Naya Barba Ricardoofficer: EVP Sust., Ops. & Ventures | Tax | 32,178 | $12.25 |
| Jun 17, 2026 | Naya Barba Ricardoofficer: EVP Sust., Ops. & Ventures | Grant | 73,833 | — |
| Jun 17, 2026 | Menendez Sergio Mauricioofficer: President of Cemex Mexico | Tax | 33,326 | $12.25 |
| Jun 17, 2026 | Menendez Sergio Mauricioofficer: President of Cemex Mexico | Grant | 74,641 | — |
| Jun 17, 2026 | Doehner Cobian Mauricioofficer: EVP Corporate Affairs | Tax | 16,024 | $12.25 |
| Jun 17, 2026 | Doehner Cobian Mauricioofficer: EVP Corporate Affairs | Grant | 36,197 | — |
| Jun 17, 2026 | Echavez Hernandez Luisofficer: EVP Digital and Org. Develop. | Tax | 35,694 | $12.25 |
| Jun 17, 2026 | Echavez Hernandez Luisofficer: EVP Digital and Org. Develop. | Grant | 81,733 | — |
| Jun 17, 2026 | Cabrera Guerra Jose Antonioofficer: President of Cemex EMEA | Tax | 5,365 | $12.25 |
| Jun 17, 2026 | Cabrera Guerra Jose Antonioofficer: President of Cemex EMEA | Grant | 12,619 | — |
| Jun 17, 2026 | Elizondo de la Garza Oscar Balmoreofficer: VP of Global Ent. Services | Tax | 7,687 | $12.25 |
| Jun 17, 2026 | Elizondo de la Garza Oscar Balmoreofficer: VP of Global Ent. Services | Grant | 17,060 | — |
| Jun 17, 2026 | Rodriguez Louisaofficer: EVP Communications, PA & IR | Tax | 17,887 | $12.25 |
Source: CX SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full CX insider & 13F page →CEMEX, S.A.B. de C.V. company profile
Overview
CEMEX, S.A.B. de C.V. (NYSE:CX) is a Mexican multinational building materials company founded in 1906 and headquartered in San Pedro Garza García, Mexico. Originally established as Cementos Hidalgo, the company has grown through strategic acquisitions and organic expansion to become one of the world's largest cement producers. CEMEX operates in over 50 countries across the Americas, Europe, Asia, Africa, and the Middle East, with approximately 2,000 retail stores worldwide. The company has undergone significant portfolio optimization in recent years, divesting non-core assets to focus on its most profitable markets in the United States, Europe, and Mexico, which now generate approximately 90% of its EBITDA.
Business
CEMEX operates in the construction materials industry, which provides the fundamental building blocks for infrastructure, residential, commercial, and industrial construction projects. The company's business is organized around several key product segments that serve the global construction value chain. Cement Production and Distribution represents the company's core business, accounting for the largest portion of revenues. Cement is a binding agent made primarily from limestone, clay, and other materials that are heated in kilns at extremely high temperatures to create clinker, which is then ground into the fine powder known as cement. When mixed with water, cement forms a paste that binds sand and gravel together to create concrete. CEMEX operates cement plants and quarries worldwide, producing various types of cement for different construction applications. Ready-Mix Concrete is concrete that is manufactured in a batching plant according to specific formulations and delivered to construction sites in transit mixers. This segment provides significant value-add services beyond raw materials, as ready-mix concrete must be delivered fresh and used within a specific timeframe. The business requires extensive logistics networks and local market presence, making it a natural complement to cement operations. Aggregates consist of crushed stone, sand, and gravel that serve as the primary components in concrete and asphalt. These materials are extracted from quarries and processed to meet specific size and quality requirements. Aggregates represent a high-volume, lower-margin business that benefits from proximity to end markets due to transportation costs. Urbanization Solutions encompasses value-added products and services including concrete blocks, roof tiles, architectural products, concrete pipes, precast products, and building solutions. This segment has shown strong growth, with EBITDA expanding 36% in 2024 and margins improving by over 5 percentage points. The company also operates complementary businesses including asphalt products, maritime cement trading services, information technology solutions, and waste management services through its Regenera subsidiary. Geographically, CEMEX generates approximately 90% of its EBITDA from three core regions: the United States (representing roughly 40-45% of EBITDA), Mexico (25-30%), and Europe/EMEA (20-25%), with the remaining 10% from South, Central America and Caribbean operations.
Revenue model
CEMEX generates revenue primarily through product sales of cement, ready-mix concrete, aggregates, and construction materials to a diverse customer base spanning residential builders, commercial contractors, infrastructure developers, and industrial users. The company's business model benefits from multiple revenue streams with different margin profiles and market dynamics. Cement sales typically command the highest margins and represent the company's most profitable segment. Cement is sold both in bulk to large construction projects and in bags through retail channels. Pricing power varies by market, with regions like Mexico experiencing particularly strong pricing dynamics due to tight supply-demand balance and limited import competition. Ready-mix concrete operations generate revenue through per-cubic-meter sales to construction sites, with pricing that reflects both raw material costs and value-added services like delivery, technical support, and custom formulations. This business requires significant working capital and logistics infrastructure but provides higher customer stickiness and local market barriers to entry. Aggregates and other construction materials are typically sold on a per-ton basis with pricing influenced by local supply availability, transportation costs, and construction activity levels. While margins are generally lower than cement, the high-volume nature and proximity advantages create stable cash flows. Several factors significantly impact CEMEX's profitability margins. Energy costs represent a major input expense, as cement production requires intensive heating processes. The company has been actively increasing alternative fuel usage, reaching 35% of total fuel consumption, which helps reduce both costs and carbon emissions. Raw material availability and transportation costs directly affect margins, particularly for aggregates where proximity to end markets is crucial due to the high weight-to-value ratio of products. Construction market cyclicality creates both opportunities and challenges, as economic growth drives demand for infrastructure and building projects, while recessions can significantly reduce volumes. Government infrastructure spending provides a relatively stable demand base, particularly in markets like the United States where federal infrastructure programs support long-term cement demand. Pricing power varies significantly by geography and competitive dynamics. Markets with limited local production capacity or import barriers, such as Mexico, allow for stronger pricing discipline. Conversely, markets with overcapacity or significant import competition face pricing pressure. The company's strategy focuses on maintaining or expanding margins through disciplined pricing while optimizing operational efficiency to offset input cost inflation.
Competitive moat
CEMEX possesses a moderate economic moat primarily derived from the high barriers to entry in cement production and the local nature of construction materials markets. The company's competitive advantages stem from several structural factors inherent to the industry. High capital intensity and regulatory barriers create significant obstacles for new entrants. Cement plants require substantial upfront investments, often exceeding hundreds of millions of dollars, and face lengthy permitting processes due to environmental regulations. Quarry operations require long-term land rights and environmental approvals that can take years to obtain. These factors limit new competition and protect established players like CEMEX. Transportation economics provide natural geographic protection, as cement and aggregates have high weight-to-value ratios that make long-distance shipping economically unfeasible. This creates local or regional market dynamics where proximity to customers becomes a decisive competitive advantage. CEMEX's extensive network of production facilities and distribution centers reinforces this moat. Economies of scale in production, procurement, and distribution provide cost advantages over smaller competitors. Large operators can negotiate better terms with suppliers, optimize logistics networks, and spread fixed costs across higher volumes. CEMEX's global scale also enables technology sharing and best practice implementation across operations. However, the company's moat faces several challenges. Import competition can erode pricing power in markets accessible by sea transport, as evidenced by pricing pressures in certain U.S. markets. Cyclical demand patterns create periods of overcapacity that intensify price competition. Environmental regulations and carbon reduction requirements, while creating barriers for new entrants, also impose significant compliance costs and capital requirements on existing operations. Substitute materials and alternative construction methods pose long-term competitive threats, though cement remains essential for most construction applications. The company's investments in low-carbon products through its Vertua line and carbon capture technologies represent defensive measures against potential regulatory or market shifts toward more sustainable alternatives. The strength of CEMEX's moat varies significantly by geography, with markets like Mexico offering stronger competitive positions due to limited import competition and favorable supply-demand dynamics, while more competitive markets face ongoing pricing pressures and margin compression risks.
Risks & safety
CEMEX presents a moderate margin of safety with improving financial metrics but some liquidity concerns and cyclical exposure risks. Liquidity and Solvency Position: 1. Cash and short-term investments of $1.18 billion as of Q1 2025, though current ratio remains below 1.0 at 0.87 2. Negative free cash flow of -$325 million in Q1 2025, primarily due to seasonal working capital needs 3. Net debt-to-EBITDA ratio improved to 1.81x, approaching the company's target of 1.5x 4. Recently regained investment-grade rating, reducing refinancing risks Valuation Metrics: 1. Trading at historically low P/E ratio of 2.77x based on Q1 2025 earnings 2. Price-to-book ratio of 0.62x suggests potential undervaluation relative to asset base 3. EV/EBITDA of 57.7x appears elevated due to seasonal EBITDA weakness in Q1 4. Full-year 2024 EV/EBITDA of 35.0x more representative of normalized valuation Other Considerations: 1. Seasonal cash flow patterns create temporary liquidity pressures in Q1 but typically recover through the year 2. Significant exposure to construction cycles and economic downturns 3. Currency exposure from international operations, particularly Mexican peso fluctuations 4. Environmental compliance costs and carbon reduction investments require ongoing capital allocation
Recent development
Over the past several years, CEMEX has undergone a significant strategic transformation focused on portfolio optimization, operational efficiency, and sustainability initiatives. The company completed approximately $2.2 billion in asset sales during 2024, divesting non-core operations to concentrate on its highest-return markets in the United States, Europe, and Mexico, which now generate 90% of EBITDA. Project Cutting Edge represents the company's latest operational excellence initiative, launched in 2024 with a target of achieving $350 million in recurring annual EBITDA savings by 2027. The program focuses on reducing overhead costs, optimizing supply chain and logistics operations, empowering regional management, and implementing new performance metrics centered on EBIT, free cash flow conversion, and return on capital employed. The company has made substantial investments in decarbonization and sustainability, reducing Scope 1 CO2 emissions by 15% and Scope 2 emissions by 17% compared to 2020 baseline levels. CEMEX has expanded its Vertua low-carbon product line to over 63% of cement volumes, offering products with at least 25% CO2 reduction compared to traditional cement. The company received EU innovation funding for carbon capture projects and has increased alternative fuel usage to 35% of total fuel consumption. Growth investments totaling $3 billion have been approved, with an average internal rate of return of 35%. These projects now contribute 13% of total EBITDA, with expectations to reach $700 million in EBITDA contribution by 2028. The investment focus has shifted toward the U.S. market, where the company sees the strongest growth opportunities driven by infrastructure spending, nearshoring trends, and AI-related data center construction. Urbanization Solutions has emerged as a high-growth segment, achieving 36% EBITDA growth in 2024 with margin expansion of over 5 percentage points. This business encompasses value-added construction products and services that command higher margins than traditional cement and aggregates. The company has also focused on capital structure optimization, reducing total debt and achieving investment-grade credit rating restoration. Management has outlined a progressive dividend policy and potential share buyback programs as part of enhanced shareholder return strategies, while maintaining disciplined capital allocation focused on high-return growth investments and continued deleveraging.
CX company profile · for informational purposes only — not investment advice.
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