Latest Ratios: P/E Ratio 11.2x · EV/EBITDA 6.1x · ROE 84.6%. (2017–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $677M | $529M | $417M | $520M | $221M | $783M | $1.2B | $352M | — | — |
| Enterprise Value | $912M | $4.7B | $5.3B | $5.5B | $5.8B | $1.1B | $1.2B | $841M | — | — |
| P/E Ratio → | 11.24 | 0.50 | 0.59 | 0.50 | 0.27 | 0.45 | 3.93 | 0.75 | — | — |
| P/S Ratio | 0.84 | 0.04 | 0.03 | 0.04 | 0.02 | 0.08 | 0.16 | 0.11 | — | — |
| P/B Ratio | 8.86 | 0.39 | 0.36 | 0.35 | 0.20 | 0.65 | 1.33 | 1.28 | — | — |
| P/FCF | 7.28 | 0.32 | 0.26 | 0.23 | 0.20 | 0.74 | 0.97 | 0.83 | — | — |
| P/OCF | 6.83 | 0.30 | 0.23 | 0.22 | 0.17 | 0.53 | 0.64 | 0.58 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.33 | 0.38 | 0.42 | 0.51 | 0.11 | 0.16 | 0.27 | — | — |
| EV / EBITDA | 6.07 | 1.76 | 2.55 | 2.01 | 2.52 | 0.42 | 0.56 | 0.99 | — | — |
| EV / EBIT | 7.11 | 2.06 | 2.91 | 2.43 | 3.03 | 0.43 | 1.30 | 1.06 | — | — |
| EV / FCF | — | 2.85 | 3.30 | 2.45 | 5.33 | 1.07 | 0.98 | 1.99 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 66.6% | 66.6% | 67.9% | 71.5% | 65.4% | 55.3% | 54.7% | 58.5% | 58.6% | 61.5% |
| Operating Margin | 15.8% | 15.8% | 12.0% | 18.0% | 17.6% | 25.8% | 28.5% | 26.3% | 23.8% | 22.8% |
| Net Profit Margin | 7.4% | 7.4% | 5.0% | 8.1% | 7.6% | 17.4% | 4.1% | 15.3% | 12.9% | 14.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 84.6% | 84.6% | 54.0% | 81.7% | 76.0% | 168.3% | 51.6% | 266.2% | 231.1% | 116.2% |
| ROA | 10.6% | 10.6% | 6.6% | 9.4% | 10.6% | 36.7% | 9.7% | 29.1% | 21.8% | 16.1% |
| ROIC | 29.4% | 29.4% | 20.3% | 26.8% | 36.8% | 160.0% | 187.6% | 92.3% | 72.5% | 42.4% |
| ROCE | 39.2% | 39.2% | 25.1% | 30.3% | 37.1% | 123.2% | 171.9% | 99.4% | 70.1% | 38.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.32 | 3.32 | 4.45 | 3.74 | 5.87 | 1.27 | 0.74 | 2.56 | 8.14 | 3.57 |
| Debt / EBITDA | 1.69 | 1.69 | 2.49 | 2.02 | 2.78 | 0.57 | 0.31 | 0.83 | 1.13 | 1.80 |
| Net Debt / Equity | — | 3.07 | 4.19 | 3.36 | 5.13 | 0.29 | 0.01 | 1.78 | 5.93 | 2.27 |
| Net Debt / EBITDA | 1.56 | 1.56 | 2.34 | 1.82 | 2.43 | 0.13 | 0.00 | 0.57 | 0.82 | 1.14 |
| Debt / FCF | — | 2.53 | 3.04 | 2.22 | 5.13 | 0.33 | 0.00 | 1.16 | 1.50 | 1.20 |
| Interest Coverage | 4.18 | 4.18 | 2.85 | 2.74 | 3.55 | 34.80 | 11.27 | 9.25 | 6.21 | 3.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.92 | 0.92 | 1.09 | 1.04 | 1.39 | 1.37 | 0.99 | 1.00 | 0.99 | 1.28 |
| Quick Ratio | 0.45 | 0.45 | 0.50 | 0.51 | 0.71 | 0.84 | 0.55 | 0.61 | 0.58 | 0.94 |
| Cash Ratio | 0.08 | 0.08 | 0.07 | 0.14 | 0.26 | 0.48 | 0.23 | 0.24 | 0.24 | 0.53 |
| Asset Turnover | — | 1.48 | 1.35 | 1.17 | 1.02 | 1.94 | 1.66 | 1.72 | 1.59 | 1.13 |
| Inventory Turnover | 2.32 | 2.32 | 1.80 | 1.82 | 1.88 | 3.50 | 2.55 | 3.71 | 3.17 | 3.79 |
| Days Sales Outstanding | — | 35.39 | 31.88 | 30.92 | 37.30 | 27.03 | 37.07 | 29.31 | 31.32 | 37.25 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 70.7% | 97.4% | — | — |
| Payout Ratio | 75.2% | 75.2% | 140.2% | 61.8% | 108.8% | 79.9% | 278.1% | 72.6% | 78.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.9% | 200.4% | 170.6% | 202.0% | 364.6% | 223.8% | 25.4% | 134.1% | — | — |
| FCF Yield | 13.7% | 309.5% | 383.8% | 429.8% | 496.7% | 135.9% | 102.6% | 120.1% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 11.5% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 6.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 70.7% | 97.4% | — | — |
| Shares Outstanding | — | $37M | $37M | $37M | $34M | $37M | $34M | $34M | $34M | $8M |
Sales force churn sensitivity
Based on current market data, BWMX trades at a TTM P/E of 10.98 and a P/S of 0.82, suggesting that investors are pricing the company as a stagnant retailer rather than a high-margin logistics platform with significant embedded credit-intermediation capabilities within the Mexican market.
The low PEG ratio of 0.41 indicates that the market may be significantly undervaluing the company's growth potential if the Jafra integration successfully leverages the existing Betterware last-mile network. Investors should monitor whether the current valuation discount reflects a permanent loss of confidence in the MLM model or merely a temporary reaction to recent integration-related earnings volatility.
As reported in recent financial statements, ROIC has trended downward from 8.4% in 2023Q4 to 7.1% in 2026Q1, indicating that the company is struggling to maintain its historical compounding efficiency while absorbing the capital-intensive Jafra acquisition into its decentralized operational structure.
The volatility in ROE, which swung from 29.6% to 2.1% over the observed period, suggests that the company's ability to generate returns on equity is highly sensitive to non-recurring items and integration costs. This trend warrants further investigation into whether the current asset-light model is being compromised by the increased complexity of managing a dual-segment beauty and home-solutions portfolio.
According to quarterly filings, the cash conversion cycle has expanded significantly, reaching 46 days in 2026Q1 from a low of 44 days in 2024Q4, which highlights the increasing difficulty in managing inventory and receivables across a massive, decentralized associate network in a maturing digital economy.
The sharp rise in DIO and DPO metrics suggests that the company is increasingly reliant on supplier credit to manage its inventory, which may indicate a shift in leverage dynamics with its Chinese manufacturing partners. Investors should monitor these efficiency ratios closely, as any further deterioration could signal a breakdown in the company's ability to self-fund its logistics operations.
The P/E ratio is frequently misapplied to BWMX, as it obscures the company's role as a logistics and credit intermediary by failing to account for the significant non-cash amortization charges associated with the Jafra acquisition and the inherent volatility of the MLM revenue recognition model.
Analysts should instead prioritize EV/EBITDA or FCF-based valuation metrics to better capture the underlying cash-generating power of the business, which is often masked by accounting adjustments. Relying solely on P/E ratios may lead to an inaccurate assessment of the company's true earning power, especially given the high variability in net margins observed over the last ten quarters.
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Quick answers to the most common questions about buying BWMX stock.
Betterware de México, S.A.P.I. de C.V.'s current P/E ratio is 11.2x. The historical average is 1.0x. This places it at the 100th percentile of its historical range.
Betterware de México, S.A.P.I. de C.V.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.5x.
Betterware de México, S.A.P.I. de C.V.'s return on equity (ROE) is 84.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 125.5%.
Based on historical data, Betterware de México, S.A.P.I. de C.V. is trading at a P/E of 11.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Betterware de México, S.A.P.I. de C.V.'s current dividend yield is 6.69% with a payout ratio of 75.2%.
Betterware de México, S.A.P.I. de C.V. has 66.6% gross margin and 15.8% operating margin. Operating margin between 10-20% is typical for established companies.
Betterware de México, S.A.P.I. de C.V.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.