Start here if you're new
what it is
CEMEX sells cement, concrete, aggregates, and clinker to construction projects across the Americas, Europe, and other international markets.
how it gets paid
Last year Cx made $16.2B in revenue. United States was the main engine at $5.18B, or 32% of sales.
what just happened
Last earnings landed at -$0.25 EPS versus a $0.22 estimate, which is a miss large enough to erase any smooth-turnaround narrative.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
25/100 earnings predictability — expect surprises
0.9% dividend yield — cash in your pocket every quarter
11.5% return on capital — nothing to write home about
xvary composite: 57/100 — below average
What they do
CEMEX sells cement, concrete, aggregates, and clinker to construction projects across the Americas, Europe, and other international markets.
This is a scale game. CEMEX gets 55% of sales from the U.S. and Mexico, and it has 46,210 employees keeping heavy materials moving. That matters because cement is cheap to make relative to the cost of hauling it, so local footprint becomes pricing power when your job site needs supply now.
How they make money
$16.2B
annual revenue
United States
$5.18B
Mexico
$3.73B
Northern Europe including U.K.
$3.08B
Asia, Middle East & Africa
$2.43B
South America, Central America & Caribbean
$1.30B
Other
$0.49B
The products that matter
core construction binder
Cement
part of a $16.2B revenue base
This is one of the core products inside CEMEX's $16.2B business. The snapshot does not break out segment revenue, so you are underwriting the company at the top level.
core product
job-site concrete delivery
Ready-mix concrete
supports 26.0% operating margin
Ready-mix is part of the same heavy-materials network that produced a 26.0% operating margin. Local delivery matters here, but the snapshot stays at the company level.
local scale
raw material inputs
Aggregates and clinker
inside the $16.2B system
These inputs feed the broader materials business. What you know from the data is the size — $16.2B in revenue — not the product-by-product split. Thin detail is part of the risk.
detail thin
Key numbers
26.0%
operating margin
Operating margin → profit left after running the business → so what: CEMEX keeps $0.26 from each sales dollar before interest and taxes.
$5.4B
long-term debt
Long-term debt → money owed beyond one year → so what: debt is manageable at 23% of capital, but it still amplifies bad cycles.
11.5%
return on capital
Return on capital → profit earned on the money invested in the business → so what: this is solid, not magical, for a heavy materials company.
0.9%
dividend yield
Dividend yield → cash paid to you each year as a percent of the stock price → so what: you are here for operations, not income.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 35 / 100
- long-term debt $5.4B (23% of capital)
- net profit margin 9.6% — keeps 10 cents of every dollar in revenue
- return on equity 12% — $0.12 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in CX 3 years ago → it's now worth $22,860.
The index would have given you $14,540.
source: institutional data · total return
What just happened
missed estimates
Last earnings landed at -$0.25 EPS versus a $0.22 estimate, which is a miss large enough to erase any smooth-turnaround narrative.
The miss matters because the business is supposed to be in rebound mode this year and next. Gross margin was 33.6%, so the issue was not basic pricing alone; it was getting that margin to the bottom line.
$16.3B
ttm revenue
$0.25
eps
33.6%
gross margin
the number that mattered
The number that mattered was the $0.47 gap between actual EPS of -$0.25 and the $0.22 estimate, because it tells you execution is still uneven.
-
cemex recently announced an acquisition.the company has reached an agreement to purchase the assets of omega products international, a manufacturer of stucco located in the western united states. overall, the deal ought to strengthen cemex’s domestic operating footprint, most within the light construction materials markets.
-
omega generates roughly $23 million per year in operating income.the transaction’s price was not disclosed, and is expected to be finalized by the end of the first quarter of this year.
-
top- and bottom-line results are expected to rebound in this year and the next.note that the fourth quarter of 2025 was impacted by write-downs related to recent asset sales and impairments.
-
we look for operating margins to improve.to this point, the company is focused on driving profitability via the implementation of a new costsavings program aimed at simplifying the corporate structure and improving efficiencies at the regional level.
-
the program is expected to generate annual savings in the realm of $350 million by the end of 2027.meanwhile, we look for resilient pricing on ready-mix and aggregates across all operating regions to be supportive.
source: wall street consensus and company filings, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the top risk here is cement demand and pricing rolling over while earnings are still thin.
high
construction demand can turn fast
CX sells heavy building materials. If volumes or pricing soften, the 9.6% net margin gets squeezed quickly.
at $16.2B revenue, every 1-point margin hit is roughly $162M less profit
med
$5.4B in debt still matters
The balance sheet is above average, not pristine. Long-term debt equals 23% of capital, which is manageable until the cycle turns against you.
less room for mistakes if revenue stalls near $16.2B
med
earnings are hard to trust quarter to quarter
Earnings predictability is 25/100. In human-speak: this stock can make you feel smart and wrong in the same month.
a 607.5x trailing p/e gives you very little support from last year's profit number
med
the stock already moved a lot
Shares have traded between $5 and $13 in the last 52 weeks, and the current price is $12.15. You are not buying deep in the drawdown anymore.
price stability is just 35 / 100
CX has enough operating leverage that the next debate is not whether it can sell cement — it is whether margins and earnings can justify a stock already near the top of its range.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next earnings report
You want proof that earnings are catching up to the stock. If the P/E stays extreme after the next full update, the market may have run too far ahead.
metric
operating margin versus net margin
26.0% operating margin versus 9.6% net margin is a big drop. That spread tells you where the pressure is hiding.
trend
institutional flow
Net buying lasted 3 straight quarters, including 124 buyers versus 85 sellers in 4q2025. If that reverses, sentiment is changing.
risk
debt and earnings volatility together
$5.4B in long-term debt is fine when the cycle behaves. Pair it with 25/100 earnings predictability and you have the part of the thesis that can break first.
Analyst rankings
earnings predictability
25 / 100
in human-speak, analysts do not see this as a smooth earner. Expect a bumpier path than the stock chart suggests.
risk rank
3
That puts it around the middle of the pack for safety. Not fragile. Not defensive either.
price stability
35 / 100
This is the chart translation: the stock can move around more than the business description might make you expect.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 124 buyers vs. 85 sellers in 4q2025. total institutional holdings: 0.5B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$6
$15
$12
current price
$11
target midpoint · 9% from current · 3-5yr high: $15 (+15% · 5% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive