MADR Composite · proxy for Mexican-ADR market health
Editorial in nature, not a tradable index. A simple cap-weighted blend of the ten ADRs below, rebased to 100 on 31 December 2025. Weights are frozen FY2025 market-cap approximations (refreshed annually); prices are a recent take — a delayed snapshot cached ~10 min via Yahoo Finance, not real-time. Treat the level as a quick read on whether the Mexican-ADR cohort is broadly rising or falling — not an investable benchmark.
What moved the index today
The composite rose +0.69 pts (+0.60%) today. Because it is cap-weighted, the move is driven mostly by its biggest names — here is who contributed most:
“pts” = contribution to the composite’s point change today (a stock’s weight × its move). Quotes are a recent take — delayed, cached ~10 min via Yahoo Finance.
The eleven largest Mexican companies with U.S.-listed American Depositary Receipts (ADRs), ranked by annual capital expenditure — the money each invests in plants, networks, mines, stores and equipment. Capital spending is a window into who is building for the future. Figures are for fiscal year 2025, sourced from company filings via Yahoo Finance; amounts reported in pesos are converted at 1 USD = 17.26 MXN.
On the price quotes: the prices shown here are a recent take — a delayed snapshot (cached ~10 min via Yahoo Finance), not a live real-time quote.
| # | Company | ADR | Exch | FY2025 CapEx (USD) | Today Δ |
|---|---|---|---|---|---|
| 1 | América Móvil | AMX | NYSE | $7.58B | |
| 2 | FEMSA | FMX | NYSE | $2.44B | |
| 3 | Wal-Mart de México (Walmex) | WMMVY | OTCQX | $2.26B | |
| 4 | Grupo México | GMBXF | OTCQX | $2.01B | |
| 5 | Vista Energy | VIST | NYSE | $1.47B | |
| 6 | Coca-Cola FEMSA | KOF | NYSE | $1.38B | |
| 7 | Grupo Bimbo | BMBOY | OTCQX | $1.33B | |
| 8 | Cemex | CX | NYSE | $1.21B | |
| 9 | Grupo Televisa | TV | NYSE | $0.88B | |
| 10 | Grupo Aeroportuario del Pacífico | PAC | NYSE | $0.72B | |
| 11 | Grupo Aeroméxico | AERO | NYSE | $0.35B |
Latin America's largest telecommunications group, controlled by the Slim family. It runs mobile, fixed-line, broadband and pay-TV networks across some 25 countries — Telcel and Telmex at home, Claro across the region. Its capital budget, the biggest of any Mexican issuer, is dominated by 5G and fiber network buildout.
A Monterrey-based beverage and retail powerhouse. It operates OXXO, the largest convenience-store chain in the Americas, plus fuel stations, pharmacies and health retail, and is the world's largest Coca-Cola bottling franchisee through its stake in Coca-Cola FEMSA. Capex funds store expansion and logistics (figure consolidates Coca-Cola FEMSA).
Mexico's largest retailer and the local arm of Walmart, operating Walmart Supercenters, Bodega Aurrerá, Sam's Club and Walmart Express across Mexico and Central America, alongside a fast-growing e-commerce and fintech business. Spending goes to new stores, distribution centers and digital platforms.
One of the world's largest copper producers, mining through Southern Copper and Americas Mining, with a major rail and transportation arm (Ferromex/GMXT) and an infrastructure division. Its USD-denominated capex covers mine expansions, smelters and railway investment.
A fast-growing independent oil and gas producer focused on Argentina's Vaca Muerta shale, with additional assets in Mexico. Founded by former YPF chief Miguel Galuccio, it lists on both the NYSE and the Mexican Bolsa. Capex is plowed into shale drilling and well completions to scale production.
The largest Coca-Cola bottler in the world by volume, serving Mexico, Brazil, Colombia, Argentina and much of Latin America. Majority-owned by FEMSA, it invests in bottling lines, distribution fleets, digital ordering and returnable packaging.
The world's largest baking company, with brands including Bimbo, Marinela, Sara Lee, Entenmann's and Thomas' sold in more than 30 countries. Capital spending goes into bakeries, production lines and a large (increasingly electric) distribution fleet.
A global building-materials major producing cement, ready-mix concrete and aggregates, with a heavy presence in the United States, Mexico and Europe. Reporting in US dollars, it directs capex toward kiln capacity, urbanization solutions and decarbonization of its cement plants.
A leading Spanish-language media company and one of Mexico's largest cable and broadband operators through izzi and its Sky satellite-TV interest. It combined its content business with Univision to form TelevisaUnivision. Capex centers on its cable network and broadband infrastructure.
Operator of 12 airports in western Mexico — including Guadalajara, Tijuana, Puerto Vallarta and Los Cabos — plus two in Jamaica. Its capital spending follows regulated master development programs for terminal expansion and modernization.
Mexico's flag carrier and a SkyTeam member, operating its mainline fleet and regional Aeroméxico Connect from a Mexico City hub, with an extensive Mexico–U.S. network anchored by a joint venture with Delta Air Lines. It returned to public markets in November 2025 with a dual NYSE/BMV listing; reported capex is comparatively light, as airlines lease much of their fleet.
Methodology & notes. Universe = Mexican-domiciled companies with ADRs or
ordinary shares traded in the U.S. (NYSE, Nasdaq or OTCQX). Ranking uses each company's most
recent reported annual capital expenditure (fiscal year ended 31 Dec 2025) from Yahoo
Finance fundamentals data, normalized to U.S. dollars at 17.26 MXN/USD. FEMSA's figure
consolidates its majority-owned Coca-Cola FEMSA, which also appears separately as a listed entity.
Figures are approximate and for editorial reference only — not investment advice.
See also the live Mexican ADR stock board.
MADR Composite. The composite at the top of the page is a cap-weighted
price index across the top-10 cohort (AERO excluded for now), rebased to 100 on the
31 Dec 2025 close. Weights are approximate FY2025 market caps and are frozen
editorially until the annual refresh. Because the cohort is small and concentrated,
the level can be moved meaningfully by a single name (notably AMX or GMBXF) — read it
as an editorial proxy for the cohort's market health, not a tradable benchmark.
