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Cemex SAB
(NYSE:CX)
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Rating:65Neutral
Price Target:
$11.00
▲(0.18% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by improving financial resilience (deleveraging) and strong free cash flow momentum, reinforced by a positive earnings call with raised EBITDA guidance and cost-savings progress. Offsetting this are weaker recent profitability versus prior years, a technically soft near-term price setup (below 20/50-day averages), and an expensive valuation (high P/E with a low dividend yield).
Positive Factors
Deleveraging and balance-sheet resilience
Substantial deleveraging strengthens CEMEX’s ability to withstand construction-cycle volatility and reduces financial pressure on future cash flows. A lower debt burden also creates more flexibility to fund maintenance, pursue selective growth, and manage refinancing needs over the coming quarters.
Negative Factors
Profitability compression
Lower net and EBITDA margins show that recent revenue stability has not translated fully into earnings power. Persistent margin pressure could constrain returns on capital, reduce the cash available for strategic investment, and make results more sensitive to pricing, cost, and regional operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging and balance-sheet resilience
Substantial deleveraging strengthens CEMEX’s ability to withstand construction-cycle volatility and reduces financial pressure on future cash flows. A lower debt burden also creates more flexibility to fund maintenance, pursue selective growth, and manage refinancing needs over the coming quarters.
Read all positive factors
Cemex SAB (CX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.39B
Dividend Yield1.03%
Average Volume (3M)7.23M
Price to Earnings (P/E)31.3
Beta (1Y)0.95
Revenue Growth9.40%
EPS Growth-67.61%
CountryUS
Employees39,886
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)1.68
Shares Outstanding1,513,746,000
10 Day Avg. Volume6,474,004
30 Day Avg. Volume7,232,132
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 Cap1.56
Enterprise Value/Revenue1.41
Enterprise Value/Gross Profit4.20
Enterprise Value/Ebitda8.57
Forecast
1Y Price Target
$14.46Price Target Upside31.73% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.85
Revenue Forecast (FY)$17.58B
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:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 26, 2026
Earnings Call Sentiment Positive
The call was predominantly positive: CEMEX reported strong underlying operational and financial progress (EBITDA >$1B, double‑digit adjusted EBITDA/EBIT growth, record free cash flow, material cost reductions and accelerated Project Cutting Edge savings) and raised full‑year EBITDA guidance. Management also executed liability management and hedging actions that improve financial resilience. However, near‑term headwinds remain (weather disruptions, softer European volumes, one‑off items affecting comparability, some debt increase from strategic actions, and geopolitical/energy risks) and several transformation benefits are expected to materialize over 2027–2028. Overall, positive achievements materially outweigh the challenges highlighted.Positive Updates
Record EBITDA and Strong Margin Expansion
Consolidated EBITDA exceeded $1 billion in the quarter. Adjusting for a one-off $42 million settlement, sales grew ~11% year‑over‑year, EBITDA expanded ~19% and EBIT grew ~29%. Consolidated EBITDA margin expanded (adjusted) by ~1.4 percentage points to 21.4%; management also cited a 2.1 percentage‑point improvement to the highest level since 2008.
Negative Updates
Weather and Operational Disruptions
Unseasonable weather and operational disruptions (notably in Texas) weighed on U.S. EBITDA and margins in the quarter; a severe heat wave across Europe restricted construction activity and pressured volumes in EMEA.
Read all updates
Q2-2026 Updates
Positive
Negative
Record EBITDA and Strong Margin Expansion
Consolidated EBITDA exceeded $1 billion in the quarter. Adjusting for a one-off $42 million settlement, sales grew ~11% year‑over‑year, EBITDA expanded ~19% and EBIT grew ~29%. Consolidated EBITDA margin expanded (adjusted) by ~1.4 percentage points to 21.4%; management also cited a 2.1 percentage‑point improvement to the highest level since 2008.
Read all positive updates
Company Guidance
CEMEX raised full‑year EBITDA guidance to growth of 16–17% year‑over‑year, basing that outlook on a second‑half peso FX range of MXN 18.25–18.50 and on expectations for lower interest expense to boost free cash flow; management also increased Project Cutting Edge savings to $475 million by 2027 (having already achieved ~80% of the original $400m target), cited $185m of savings in 2026, and split the $475m roughly into $230m of overhead reductions and $245m of operating efficiencies, with most incremental savings expected in 2027. They reiterated a trailing‑12‑month free‑cash‑flow‑from‑operations conversion of ~60% (adjusted), estimated a $300m free‑cash‑flow opportunity from asset and CapEx optimization, and guided energy costs in cement to be up only “low single‑digit” versus last year (fuels were down ~12% in Q2 and ~10% H1). On financing, interest paid plus subordinated coupons are expected to fall by about $40m to roughly $455m this year, net financial leverage (including perpetual notes) stands at 2.08x (down 0.22x vs Q1), the company expects lower net debt plus subordinated notes at year‑end versus 2025, has issued $1.5bn 10‑year senior notes at 5.75% (with $500m swapped to euros) and replaced two facilities with a $3bn revolving credit tied to CO2 targets.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 | 17.00B | 16.13B | 16.06B | 16.40B | 14.71B | 14.38B |
| Gross Profit | 5.72B | 5.31B | 5.41B | 5.54B | 4.49B | 4.64B |
| EBITDA | 2.80B | 2.57B | 2.81B | 3.07B | 2.17B | 2.68B |
| Net Income | 482.32M | 960.00M | 939.00M | 182.00M | 858.00M | 753.00M |
Balance Sheet | ||||||
| Total Assets | 28.27B | 28.97B | 27.30B | 28.43B | 27.49B | 27.70B |
| Cash, Cash Equivalents and Short-Term Investments | 653.68M | 1.82B | 864.00M | 624.00M | 495.00M | 613.00M |
| Total Debt | 6.88B | 7.65B | 7.36B | 8.16B | 8.82B | 9.16B |
| Total Liabilities | 15.43B | 15.34B | 14.82B | 16.32B | 16.58B | 17.43B |
| Stockholders Equity | 12.53B | 13.31B | 12.18B | 11.76B | 10.50B | 9.83B |
Cash Flow | ||||||
| Free Cash Flow | 1.81B | 1.01B | 598.00M | 1.36B | 613.00M | 1.06B |
| Operating Cash Flow | 2.76B | 2.06B | 1.89B | 2.22B | 1.37B | 1.84B |
| Investing Cash Flow | -1.19B | -264.36M | -328.00M | -1.32B | -640.00M | -717.29M |
| Financing Cash Flow | -2.06B | -791.65M | -1.25B | -701.00M | -961.00M | -1.40B |
Cemex SAB Technical Analysis
Negative
10.98
Price Trends
10.27
Negative
11.25
Negative
11.65
Negative
Market Momentum
>-0.01
Negative
51.66
Neutral
81.87
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CX, the sentiment is Negative. The current price of 10.98 is above the 20-day moving average (MA) of 9.79, above the 50-day MA of 10.27, and below the 200-day MA of 11.65, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 51.66 is Neutral, neither overbought nor oversold. The STOCH value of 81.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $56.70B | 15.07 | 16.26% | 1.79% | 6.29% | 18.35% | |
68 Neutral | $2.49B | 14.09 | 16.96% | 1.18% | 5.46% | 7.16% | |
65 Neutral | $15.39B | 31.28 | 3.67% | 1.03% | 9.40% | -67.61% | |
62 Neutral | $5.30B | 13.63 | 26.87% | 0.58% | 1.68% | -7.06% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $21.24B | 24.15 | 10.79% | 1.70% | 5.09% | 1.61% | |
56 Neutral | $1.20B | 39.77 | 4.06% | 17.75% | -5.25% | -50.76% |
* Basic Materials Sector Average
CX
Cemex SAB
10.11
0.87
9.39%
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178.74
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1.38
17.12%
TTAM
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-7.58%
AMRZ
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-8.37
-17.50%
Cemex SAB Corporate Events
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 ...
Cemex Lifts 2026 Outlook as Second-Quarter EBITDA Jumps 24%
Jul 23, 2026
On July 23, 2026, Cemex reported strong second-quarter 2026 results, highlighted by a 24% year-over-year increase in operating EBITDA to US$1,018 million and an expanded EBITDA margin of 22.2%. Free cash flow from operations tripled to US$637 mill...
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.