Bolsa Mexicana de Valores SAB de CV (BC51) Q3 2026 Earnings Report
DE:BC51 Q3 2026 EPS Results
- Actual EPS
- EUR 0.03
- Consensus EPS
- EUR 0.04
- Beat/Miss
- Missed by -EUR 0.00
- One Year Ago EPS
- EUR 0.03
DE:BC51 Q3 2026 Revenue Results
- Actual Revenue
- EUR 55.85M
- Expected Revenue
- EUR 57.00M
- Beat/Miss
- Missed by -EUR 1.15M
- YoY Revenue Growth
- +5.40%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/20/2026
- Time
- TBA
- Conference Call
- Tuesday, October 20, 2026
DE:BC51 Upcoming Earnings
Bolsa Mexicana de Valores SAB de CV's next earnings date is estimated for February 16, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:BC51 Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: revenue, earnings, trading activity, derivatives, clearing, custody, cash flow and strategic execution all showed progress, while the diversified business model helped offset softer equity-market activity. The main negatives were the 12% increase in operating expenses, foreign-exchange and lower-interest-rate headwinds, reduced equity-market activity, and an expected small near-term EBITDA impact during the technology transition.
Company Guidance
Management’s new best guidance for 2026 CapEx is in the range between MXN 340 million, MXN 370 million, versus an initial CapEx estimate of MXN 500 million, with part of that moving to next year; no guidance was provided for 2027 CapEx or EBITDA, although EBITDA will probably have a small impact and the impact will be minimized. Personnel expenses should be closer to inflation, technology expenses should be in the low double-digit number, and 2027 revenue could be in the high single-digit number, without giving any guidance. The first wave and the second wave of platforms will come out next year, with the first quarter 2027 launch on track, while the CSD and equity CCP platforms are targeted for the first quarter of 2028. The company has 4 confidential IPOs in place, potential listings of around MXN 50 billion to MXN 60 billion every month, and expects that pipeline to continue into the last quarter and the beginning of the next year.
- Resilient Results Supported by DiversificationBMV Group delivered resilient third-quarter results across a mixed market backdrop, with continued strength in derivatives helping offset softer equity-market activity.
- First Simplified-Listing Debt IssuanceAdventus Capital completed the first debt issuance under the simplified listing approach framework: a MXN 560 million securitization backed by a credit portfolio to refinance state-level debt. The process was completed in approximately 1 month.
- Robust Debt-Market Activity and IPO PipelineDebt-market activity remained robust, highlighted by CFE's MXN 20 billion issuance, the largest transaction of the period. The IPO pipeline included 4 confidential companies in process, while the long-term debt pipeline remained around MXN 50 billion to MXN 60 billion in potential listings per month.
- Warrants Demand Continued to BuildActivity in warrants continued to gain momentum, reflecting growing investor demand for yield-enhancing investments.
- Equity Trading Market Share and VolumesAverage daily traded value reached MXN 17 billion during the quarter, up 1% year-over-year. Year-to-date average daily trading volume was MXN 20 billion, up 14% versus 2025, while equity trading market share increased to 81%.
- Resilient Equity Clearing ActivityEquity activity at the central counterparty remained resilient at MXN 21 billion during the quarter, consistent with the prior-year period. Year-to-date activity increased 13% year-over-year to MXN 24.5 billion.
- Progress in Bond CCP AdoptionThe bond-clearing business had 11 financial institutions registered as clearing members and 19 additional institutions progressing through the admission process. The first transaction from a pension fund was also cleared.
- Strong Derivatives Volume GrowthDerivatives volumes increased 22% year-over-year during the quarter and 26% during the first nine months. Dollar-peso futures volumes grew 38% year-to-date, supported by higher demand for currency-hedging instruments among institutional investors amid appreciation of the Mexican peso, while IPC index futures grew 7%.
- Higher Derivatives Clearing Margin DepositsMargin deposits in the derivatives-clearing segment rose to MXN 43 billion due to higher open interest. Together with higher trading volumes, this drove a positive quarter at Asigna; year-to-date margin deposits reached close to MXN 41 billion.
- SIF ICAP and OTC Market GrowthSIF ICAP delivered strong performance with growth across all business segments in Mexico and Chile. OTC derivatives also continued to perform well, benefiting from favorable market conditions in both countries and continued client engagement.
- Growth in Assets Under CustodyIndeval assets under custody reached MXN 48 trillion at quarter-end, up 11% year-over-year, primarily driven by assets under custody and pension funds.
- International Exposure DemandThe global market maintained strong momentum, reflecting continued investor demand for international exposure and diversification opportunities.
- Information-Services InvestmentBMV Group continued investing in connectivity, access to market information and data capabilities to support future monetization opportunities, higher-value products and new revenue streams.
- Revenue and Earnings GrowthQuarterly revenue increased MXN 59 million, or 5%, supported by the diversified business portfolio. Earnings per share reached MXN 0.72, up 2% year-over-year. Year-to-date revenue increased 7%.
- Year-to-Date Operating and EBITDA PerformanceFor the first nine months of 2026, operating income increased 3% year-over-year, or MXN 49 million. EBITDA reached MXN 2 billion, up 4%, with an EBITDA margin of 56%. On a constant-currency basis, EBITDA would have been MXN 96 million higher, representing 13% growth versus the prior year.
- Year-to-Date EPS GrowthYear-to-date earnings per share reached MXN 2.25, increasing 2.2% year-over-year.
- Strong Cash Generation and Capital AllocationYear-to-date operating cash flow reached MXN 1.4 billion after payments to suppliers, employers, employees and taxes. These resources funded MXN 1.2 billion in investment activities and MXN 345 million in financing activities, including dividends and share repurchases.
- Strategic Investment Execution and EfficiencyYear-to-date investment totaled MXN 198 million, with an additional MXN 172 million committed under existing contracts, representing approximately MXN 370 million of investment activity. The lower spending relative to the original guidance was attributed to execution efficiencies and investment timing, without altering the scope of the strategic initiatives.
- Digital Evolution and Emerging Technology FocusDigital evolution remains BMV Group's highest strategic priority. The company is continuing to invest in technologies and capabilities reshaping financial markets and is exploring AI opportunities focused on productivity, client experience, decision-making and data-driven products and services.
- Derivatives Platform on Track for 2027 LaunchThe derivatives project entered its final implementation phase, with regulatory engagement, market-participant coordination and operational preparation underway. End-to-end market testing is scheduled to start in November, and the first-quarter 2027 launch timeline remains on track.
- Progress on Repo CCP InitiativeBMV Group continued making meaningful progress on the repo CCV initiative through collaboration with market participants and regulators. Required regulatory documentation is expected to be submitted in the near term.
- CSD and Equity CCP Road Map ProgressThe third wave of the technology road map, focused on the CSD and equity CCP platforms, continued as planned. Development and internal testing are underway, with implementation targeted for the first quarter of 2028.
DE:BC51 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 16, 2027 | 2026 (Q4) | 0.04- | 0.03 | ― | ― |
| Oct 20, 2026 | 2026 (Q3) | 0.040.03 | 0.03 | 2.86% (+0.00) | |
| Jul 21, 2026 | 2026 (Q2) | 0.040.04 | 0.03 | 2.80% (+0.00) | |
| Apr 21, 2026 | 2026 (Q1) | 0.030.04 | 0.04 | 1.02% (+0.00) | |
| Feb 10, 2026 | 2025 (Q4) | 0.060.03 | 0.04 | -19.28% (-0.01) | |
| Oct 21, 2025 | 2025 (Q3) | 0.040.03 | 0.04 | -3.98% (-0.00) | |
| Jul 22, 2025 | 2025 (Q2) | 0.040.03 | 0.03 | 5.46% (+0.00) | |
| Apr 22, 2025 | 2025 (Q1) | 0.030.04 | 0.03 | 18.33% (+0.01) | |
| Feb 11, 2025 | 2024 (Q4) | 0.030.04 | 0.03 | 15.76% (+0.01) | |
| Oct 22, 2024 | 2024 (Q3) | 0.030.04 | 0.03 | 26.78% (+0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
