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Cemex SAB
(NYSE:CX)
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Rating:67Neutral
Price Target:
$11.00
â–²(0.18% Upside)
Action:Reiterated
Date:10/26/26
The score is driven primarily by improving financial resilience (strong free cash flow and reduced leverage) and a constructive earnings-call outlook with reaffirmed EBITDA growth guidance and cost-savings execution. These positives are tempered by weaker recent profitability versus prior years, mixed technicals (below key longer-term moving averages), and a relatively high P/E with only a modest dividend yield.
Positive Factors
Strong Free Cash Flow
Improving free cash flow gives CEMEX greater capacity to reduce debt, fund maintenance and growth investment, and return capital to shareholders. The strong cash trend also provides resilience through construction cycles and supports management’s longer-term transformation and asset-pruning plans.
Negative Factors
Profitability Compression
Lower net and EBITDA margins indicate that recent revenue stability has not translated into comparable earnings strength. Persistently weaker profitability can limit returns on capital and reduce the cash available for investment, deleveraging, and shareholder distributions if pressure continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Free Cash Flow
Improving free cash flow gives CEMEX greater capacity to reduce debt, fund maintenance and growth investment, and return capital to shareholders. The strong cash trend also provides resilience through construction cycles and supports management’s longer-term transformation and asset-pruning plans.
Read all positive factors
Cemex SAB (CX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.06B
Dividend Yield1.02%
Average Volume (3M)7.58M
Price to Earnings (P/E)24.9
Beta (1Y)0.95
Revenue Growth9.40%
EPS Growth-67.61%
CountryUS
Employees39,886
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)1.78
Shares Outstanding1,513,746,000
10 Day Avg. Volume7,840,943
30 Day Avg. Volume7,581,507
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.13
Price to Sales (P/S)0.10
P/FCF Ratio1.65
Enterprise Value/Market Cap1.50
Enterprise Value/Revenue1.39
Enterprise Value/Gross Profit4.06
Enterprise Value/Ebitda7.97
Forecast
1Y Price Target
$14.44Price Target Upside31.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.84
Revenue Forecast (FY)$17.56B
Cemex SAB Business Overview & Revenue Model
Company Description
CEMEX, S.A.B. de C.V., along with its subsidiaries, operates globally as a prominent supplier involved in the production, commercialization, and distribution of core construction commodities such as cement, ready-mix concrete, and aggregates. The ...
How the Company Makes Money
CEMEX makes money primarily by producing and selling construction materials and related services. Its core revenue streams are: (1) Cement: CEMEX manufactures clinker and cement in its kilns and sells cement to distributors, retailers, and large c...
Cemex SAB Earnings Call Summary
Earnings Call Date:Oct 26, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with robust revenue, EBITDA, EBIT, free cash flow, cost savings, debt reduction, margin expansion, and transformation progress. Management reaffirmed full-year EBITDA guidance and highlighted structural opportunities from asset pruning, digitalization, and AI. The main challenges were inflation, higher 2027 energy costs, fourth-quarter maintenance and energy headwinds, uneven regional demand, U.S. residential weakness, and ongoing geopolitical and execution risks. Overall, the breadth and magnitude of the reported improvements significantly outweighed the stated challenges.Positive Updates
Strong Consolidated Revenue and Profitability Growth
Net sales grew approximately 8% year over year, while EBITDA increased 12% and EBIT increased 19%, supported by higher consolidated prices, improving cement volumes, Project Cutting Edge efficiencies, operational improvements, and favorable FX movements. This marked the fifth consecutive quarter of double-digit EBITDA and EBIT growth with margin expansion.
Negative Updates
Volatile Macroeconomic Environment
Management cited higher interest rates, higher energy costs, reduced economic visibility, and uneven market recovery as ongoing challenges.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Consolidated Revenue and Profitability Growth
Net sales grew approximately 8% year over year, while EBITDA increased 12% and EBIT increased 19%, supported by higher consolidated prices, improving cement volumes, Project Cutting Edge efficiencies, operational improvements, and favorable FX movements. This marked the fifth consecutive quarter of double-digit EBITDA and EBIT growth with margin expansion.
Read all positive updates
Company Guidance
Management reaffirmed full year EBITDA guidance of 16% to 17% year-over-year growth, based on a peso FX rate of 25 to 68 for the fourth quarter, and expects to land very close to the 21% EBITDA margin target, which is the floor, announced for next year. Energy costs were within full year guidance of a low single digit increase, while 2027 energy inflation could be between mid to high single digit inflation; 2027 pricing is expected to include solid mid single digit price increases across all products. The company expects working capital investment between $50 million to $100 million, total CapEx of maximum of $1.15 billion to $1.2 billion by 2028 and beyond, at least $100 million of incremental free cash flow recurrently from asset pruning from 2027 onwards, and potential incremental recurring free cash flow of between $100 million to $150 million. It expects to exceed the $475 million cost savings commitment by end of next year, with incremental $80 million to finish this first part of the transformation, while 80% of the $475 million cost savings target has been achieved and the remaining $95 million is expected to primarily benefit 2027 results. Fourth-quarter headwinds include around $80 million in maintenance and around $17 million in energy, while about 80% of direct diesel consumption and about 75% to 80% of natural gas consumption are hedged for 2027.Cemex SAB Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
71
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.35B | 16.13B | 16.06B | 16.40B | 14.71B | 14.38B |
| Gross Profit | 5.93B | 5.31B | 5.41B | 5.54B | 4.49B | 4.64B |
| EBITDA | 3.01B | 2.57B | 2.81B | 3.07B | 2.17B | 2.68B |
| Net Income | 626.07M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
Balance Sheet | ||||||
| Total Assets | 27.97B | 28.97B | 27.30B | 28.43B | 27.49B | 27.70B |
| Cash, Cash Equivalents and Short-Term Investments | 651.98M | 1.82B | 864.00M | 624.00M | 495.00M | 613.00M |
| Total Debt | 0.00 | 7.65B | 7.36B | 8.16B | 8.82B | 9.16B |
| Total Liabilities | 14.76B | 15.34B | 14.82B | 16.32B | 16.58B | 17.43B |
| Stockholders Equity | 12.90B | 13.31B | 12.18B | 11.76B | 10.50B | 9.83B |
Cash Flow | ||||||
| Free Cash Flow | 1.32B | 1.01B | 598.00M | 1.36B | 613.00M | 1.06B |
| Operating Cash Flow | 2.00B | 2.06B | 1.89B | 2.22B | 1.37B | 1.84B |
| Investing Cash Flow | -835.56M | -264.36M | -328.00M | -1.32B | -640.00M | -717.29M |
| Financing Cash Flow | -1.74B | -791.65M | -1.25B | -701.00M | -961.00M | -1.40B |
Cemex SAB Technical Analysis
Neutral
10.98
Price Trends
10.23
Positive
11.17
Negative
11.62
Negative
Market Momentum
0.05
Negative
60.64
Neutral
80.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CX, the sentiment is Neutral. The current price of 10.98 is above the 20-day moving average (MA) of 9.89, above the 50-day MA of 10.23, and below the 200-day MA of 11.62, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 60.64 is Neutral, neither overbought nor oversold. The STOCH value of 80.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CX.
Cemex SAB Risk Analysis
Cemex SAB disclosed 40 risk factors in its most recent earnings report. Cemex SAB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cemex SAB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $57.06B | 15.02 | 16.26% | 1.80% | 6.29% | 18.35% | |
68 Neutral | $2.52B | 14.23 | 16.96% | 1.17% | 5.46% | 7.16% | |
67 Neutral | $16.06B | 24.89 | 4.98% | 1.02% | 9.40% | -67.61% | |
62 Neutral | $5.36B | 13.74 | 26.87% | 0.57% | 1.68% | -7.06% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $22.00B | 24.15 | 10.79% | 1.64% | 5.09% | 1.61% | |
56 Neutral | $1.17B | 38.79 | 4.06% | 17.75% | -5.25% | -50.76% |
* Basic Materials Sector Average
CX
Cemex SAB
10.55
0.36
3.50%
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174.74
-54.76
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85.77
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9.29
-1.13
-10.84%
TTAM
Titan America SA
13.66
-1.70
-11.04%
AMRZ
Amrize Ltd
40.23
-9.59
-19.25%
Cemex SAB Corporate Events
Cemex Delivers Strong Q3 2026 Growth and Accelerates Asset Pruning Strategy
Oct 26, 2026
On October 26, 2026, Cemex reported strong third quarter 2026 results, with sales up 8%, operating EBITDA up 12% to US$990 million and EBIT up 19%, driving margin expansion and higher earnings quality. Year-to-date Free Cash Flow from Operations a...
Cemex to Present Third-Quarter 2026 Results in October 26 Investor Call
Oct 19, 2026
On October 19, 2026, Cemex announced it will release its third-quarter 2026 financial results on Monday, October 26, 2026, followed by a conference call and live audio webcast hosted by senior executives, including its CEO, CFO and head of investo...
Cemex Streamlines Guarantor Structure on Mexican Long-Term Notes After October Repayment
Oct 7, 2026
Cemex, S.A.B. de C.V. reported that it has completed a process with the Mexican National Banking and Securities Commission to formalize the release of Cemex Concretos, Cemex Operaciones México and Cemex Innovation Holding as guarantors of two...
Cemex Confirms Second USD $45 Million Dividend Installment for September
Sep 14, 2026
Cemex announced on September 14, 2026 that it will pay the second installment of the cash dividend approved at its Ordinary General Shareholders’ Meeting held on March 26, 2026, totaling USD $45 million against coupon 160 attached to its out...
Cemex Sets September Payment Dates for Second USD 45 Million Dividend Tranche
Sep 4, 2026
Cemex announced that, following shareholder approval on March 26, 2026 of a USD 180 million cash dividend to be paid in four equal tranches, investors of its Series A and B shares, CPOs and ADSs of record as of September 15, 2026 will receive the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.