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Grocery stores · Consumer Defensive · Fiscal year ends Dec 31 · Reports in MXN
BBB Foods reported revenue of MXN 78.2B in the fiscal year ended Dec 2025, up 36.1% from the year before. Operating income was −MXN 675M, an operating margin of −0.9%, and net income was −MXN 2.8B. Operating cash flow of MXN 4.7B less capital expenditure of MXN 3.5B left free cash flow of MXN 1.1B. Net debt was MXN 822M.
Ranks among the 4 grocery stores companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 23,091 | 32,580 | 44,078 | 57,439 | 78,153 |
| Cost of revenue | 19,655 | 27,656 | 37,039 | 48,063 | 65,509 |
| Gross profit | 3,436 | 4,925 | 7,040 | 9,376 | 12,643 |
| Selling, general & admin | 3,047 | 4,413 | 6,210 | 8,109 | 13,217 |
| Operating income | 394 | 520 | 794 | 1,329 | −675 |
| Interest expense | 1,005 | 1,169 | 1,527 | 1,257 | 1,508 |
| Pre-tax income | −725 | −364 | −101 | 718 | −2,396 |
| Income tax | 91.8 | 201 | 205 | 383 | 444 |
| Net income | −817 | −565 | −306 | 334 | −2,840 |
| Diluted EPS | −68.06 | −47.09 | −25.51 | 2.40 | −24.69 |
| Diluted shares | – | – | – | 109 | 115 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 1,000 | 985 | 1,220 | 1,447 | 1,427 |
| Inventory | – | 1,932 | 2,357 | 3,038 | 4,217 |
| Current assets | – | 3,599 | 4,393 | 8,554 | 9,726 |
| Net PP&E | 1,901 | 3,164 | 4,606 | 6,456 | 9,349 |
| Total assets | – | 11,795 | 14,964 | 22,777 | 30,526 |
| Current liabilities | – | 6,804 | 8,952 | 11,187 | 15,602 |
| Short-term debt | – | 491 | 744 | 927 | 2,107 |
| Long-term debt | – | 541 | 577 | 107 | 142 |
| Total liabilities | – | 16,508 | 19,599 | 18,742 | 26,401 |
| Shareholders' equity | −4,452 | −4,713 | −4,635 | 4,035 | 4,125 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,366 | 2,116 | 3,140 | 3,749 | 4,682 |
| Capital expenditure | 532 | 1,123 | 1,798 | 2,436 | 3,549 |
| Free cash flow | 834 | 993 | 1,342 | 1,313 | 1,133 |
| Depreciation & amortisation | 436 | 667 | 905 | 1,238 | 1,583 |
| Stock-based compensation | 142 | 304 | 385 | 523 | 2,930 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 41.1% | 35.3% | 30.3% | 36.1% |
| Operating income growth (YoY) | – | 32.0% | 52.6% | 67.3% | −150.8% |
| EPS growth (YoY) | – | – | – | – | −1128.8% |
| Gross margin | 14.9% | 15.1% | 16.0% | 16.3% | 16.2% |
| Operating margin | 1.7% | 1.6% | 1.8% | 2.3% | −0.9% |
| Net margin | −3.5% | −1.7% | −0.7% | 0.6% | −3.6% |
| Return on equityBlank when equity is negative | – | – | – | 8.3% | −68.8% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 10.4% | 13.2% | 11.5% | −4.5% |
| Free cash flow margin | 3.6% | 3.0% | 3.0% | 2.3% | 1.4% |
| Cash conversion (CFO ÷ net income) | −1.67x | −3.74x | −10.3x | 11.2x | −1.65x |
| Inventory days | – | 25 | 23 | 23 | 23 |
| Interest cover | 0.39x | 0.45x | 0.52x | 1.06x | −0.45x |
| Debt ÷ equity | – | – | – | 0.26x | 0.55x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 47.0 | 101 | −414 | 822 |
| Current ratio | – | 0.53x | 0.49x | 0.76x | 0.62x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.