Bolsa Mexicana de Valores SAB de CV
BMV:BOLSAA
Bolsa Mexicana de Valores SAB de CV
Bolsa Mexicana de Valores SAB de CV operates as a financial services company. The company is headquartered in Cuauhtemoc, Mexico, D.F. and currently employs 460 full-time employees. The company went IPO on 2008-06-13. The firm's activities are divided into six business segments: Stock Exchange, operating the Mexican stock exchange; Derivatives, listing and trading future and option contracts; Brokerage, providing brokerage services for securities enrolled in the National Securities Registry; Settlements, offering clearing and settlement services for financial and commodities derivatives and securities transactions; Custody, providing custody services related to securities clearing and settlement, and Others, including news and information technology (IT) services, among others. The firm operates through a number of subsidiaries, such as Contraparte Central de Valores de Mexico SA de CV (CCV), Mercado Mexicano de Derivados SA de CV (MexDer), SIF ICAP SA de CV (SIF ICAP) and Valuacion Operativa y Referencias de Mercado SA de CV (Valmer).
Bolsa Mexicana de Valores SAB de CV operates as a financial services company. The company is headquartered in Cuauhtemoc, Mexico, D.F. and currently employs 460 full-time employees. The company went IPO on 2008-06-13. The firm's activities are divided into six business segments: Stock Exchange, operating the Mexican stock exchange; Derivatives, listing and trading future and option contracts; Brokerage, providing brokerage services for securities enrolled in the National Securities Registry; Settlements, offering clearing and settlement services for financial and commodities derivatives and securities transactions; Custody, providing custody services related to securities clearing and settlement, and Others, including news and information technology (IT) services, among others. The firm operates through a number of subsidiaries, such as Contraparte Central de Valores de Mexico SA de CV (CCV), Mercado Mexicano de Derivados SA de CV (MexDer), SIF ICAP SA de CV (SIF ICAP) and Valuacion Operativa y Referencias de Mercado SA de CV (Valmer).
Revenue Growth: Full-year 2025 revenue rose 7% to MXN 4.5 billion, with Q4 flat at MXN 1.1 billion.
Margin Pressure: EBITDA margin fell to 54% in Q4 (down 900 bps), and full-year margin dipped to 56% (down 198 bps), largely due to higher investment spending.
Ongoing Investment: CapEx reached over MXN 250 million in 2025 and is guided to increase to around MXN 500 million in 2026, supporting technology upgrades and new platforms.
Shareholder Returns: Dividend of MXN 2.05 per share and at least MXN 160 million buyback for 2025, targeting an 81% payout of net income.
Expense Outlook: Operating expenses are expected to grow high single digits in 2026, broadly in line with revenue growth; margins expected to be stable near 56%.
Strategic Initiatives: Significant progress on new central counterparty for bonds, derivatives platform migration, and data infrastructure; new revenue streams expected to materialize from 2027.
Market Activity: Record financing in 2025 (MXN 755 billion, up 24%) and improved equity listing activity with several IPOs and follow-ons.
