Walmart de México (Walmex) is the undisputed leader in Mexican retail with ~3,600 stores across formats. Nearshoring-driven Mexican economic growth is expanding the formal consumer economy directly into Walmex's footprint. E-commerce (+35% YoY) and financial services (Bait mobile bank) are structural growth layers on top of the stable brick-and-mortar business. Domestic consumption resilience has repeatedly surprised consensus.
Thesis reviewed May 29, 2026
Walmart de México S.A.B. de C.V. is headquartered in Mexico, which is currently showing moderate signals.
🇲🇽Mexico51NEUTRALView Mexico risk detail →🛍Consumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| JD | JD.com Inc | 27 | +13% | ↑2% | EARLY |
| NIO | NIO Inc | 27 | -10% | ↑2% | AVOID |
| LI | Li Auto Inc | 27 | +7% | ↑2% | NEUTRAL |
| BTI | British American Tobacco PLC | 27 | +14% | ↑2% | EARLY |
| DEO | Diageo PLC | 27 | +8% | ↑2% | NEUTRAL |
| RACE | Ferrari NV | 27 | +17% | ↑2% | EARLY |
| TM | Toyota Motor Corporation | 27 | +12% | ↑2% | EARLY |
Investors who hold WALMEX.MX may also have indirect exposure through these country funds.
Walmex Q4 same-store sales +9.5% MXN; traffic and ticket both positive
Bait mobile bank reaches 12M accounts; credit card NPLs below industry average
Nearshoring corridor expansion drives store openings in Monterrey/Saltillo cluster
Estimates · Yahoo Finance · Not audited figures