Financials CEMEX, S.A.B. de C.V.

Equities

CEMEX CPO

MXP225611567

Construction Materials

End-of-day quote Mexican S.E. Other stock markets 22/01/2026			5-day change	1st Jan Change
22.58 ^MXN	-0.18%		+3.58%	+9.24%

12/12	CEMEX, S.A.B. de C.V. Declares Third Installment of Cash Dividend, Payable on December 23, 2025	CI
08/12	RBC Upgrades Cemex to Sector Perform From Underperform, Raises Price Target to $11.25 From $8.25	MT

Projected Income Statement: CEMEX, S.A.B. de C.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	12,970	14,548	15,577	17,416	16,200	16,102	16,948	17,675
Change	-	12.16%	7.07%	11.8%	-6.98%	-0.6%	5.25%	4.29%
EBITDA ¹	2,460	2,861	2,681	3,347	3,079	3,091	3,373	3,601
Change	-	16.3%	-6.3%	24.86%	-8.01%	0.4%	9.11%	6.75%
EBIT ¹	1,343	1,734	1,561	2,114	1,828	1,768	2,036	2,283
Change	-	29.09%	-10.01%	35.44%	-13.51%	-3.3%	15.19%	12.1%
Interest Paid ¹	-777	-662.2	-401.4	-530.6	-555.5	-449.2	-419.8	-388.7
Earnings before Tax (EBT) ¹	-1,274	931.7	770	1,449	980.4	1,465	1,625	1,952
Change	-	173.15%	-17.36%	88.17%	-32.33%	49.39%	10.92%	20.13%
Net income ¹	-1,467	753.1	858.4	182.2	938.8	1,389	1,168	1,317
Change	-	151.33%	13.97%	-78.78%	415.37%	47.99%	-15.95%	12.77%
Announcement Date	11/02/21	10/02/22	13/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	3,537	3,411	3,855	3,769	3,618	3,770	4,080	3,956	3,869	4,036	4,566	4,571	4,243	4,138	4,494	4,090	3,811	3,649	4,126	4,245	4,056	3,763	4,296	4,404	3,989
Change	-	-3.57%	13.02%	-2.25%	-3.99%	4.19%	8.21%	-3.04%	-2.2%	4.32%	13.14%	0.1%	-7.16%	-2.49%	8.62%	-9%	-6.8%	-4.26%	13.06%	2.9%	-4.46%	-7.23%	14.19%	2.5%	-9.41%
EBITDA ¹	643.9	684.3	817.7	739.7	650.6	690.8	723.3	649.1	630.5	732.7	961.4	909.8	743.1	772.4	965.2	746.9	680.7	601.2	823.2	882.3	812.9	702.8	879.3	920.5	821.2
Change	-	6.28%	19.5%	-9.55%	-12.05%	6.18%	4.71%	-10.26%	-2.87%	16.21%	31.22%	-5.37%	-18.32%	3.95%	24.95%	-22.61%	-8.86%	-11.68%	36.91%	7.18%	-7.86%	-13.55%	25.12%	4.67%	-10.79%
EBIT ¹	351.4	406.1	502.1	463	366.2	388.6	436.3	350.7	360.9	435	651.3	498.5	432.1	451.6	647.1	427.7	374.3	292.2	491.3	547.3	612.5	397.5	549.3	585.4	486.8
Change	-	15.55%	23.64%	-7.79%	-20.9%	6.1%	12.28%	-19.62%	2.91%	20.52%	49.74%	-23.45%	-13.33%	4.52%	43.28%	-33.9%	-12.5%	-21.93%	68.16%	11.4%	11.92%	-35.11%	38.2%	6.58%	-16.85%
Charge d'intérêts ¹	-178	-244.5	-180.8	-128.5	-135.6	-119.4	-104.4	-43.33	-136.4	-132.1	-136.4	-130.5	-131.6	-	-	-	-	-114.7	-120.3	-110.1	-110	-110	-110	-110	-110
Earnings before Tax (EBT) ¹	70.11	715.2	336.7	-253.4	158.1	250.6	335.7	325.2	-136	350.5	493.4	353.9	251.1	302.4	365.4	194.7	186.1	174.5	428.7	360.8	382	187.9	389.9	427.7	341.8
Change	-	920.03%	-52.92%	-175.24%	162.39%	58.54%	33.94%	-3.11%	-141.81%	357.75%	40.77%	-28.28%	-29.06%	20.45%	20.83%	-46.71%	-4.42%	-6.22%	145.66%	-15.85%	5.88%	-50.81%	107.5%	9.69%	-20.08%
Net income ¹	69.72	664.5	269.9	-376.2	194.8	198.1	265.3	494.1	-99.14	225.4	271.8	125.9	-441	254.4	230.4	405.7	48.31	734	318	263.7	248.3	-	-	-	-
Change	-	853.1%	-59.38%	-239.35%	151.79%	1.68%	33.94%	86.22%	-120.07%	327.4%	20.58%	-53.7%	-450.35%	157.69%	-9.44%	76.1%	-88.09%	1,419.3%	-56.67%	-17.08%	-5.84%	-	-	-	-
Announcement Date	11/02/21	29/04/21	28/07/21	28/10/21	10/02/22	28/04/22	28/07/22	27/10/22	13/02/23	02/05/23	27/07/23	26/10/23	08/02/24	25/04/24	25/07/24	28/10/24	06/02/25	28/04/25	24/07/25	28/10/25	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: CEMEX, S.A.B. de C.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	10,235	7,942	7,652	6,862	5,836	5,591	4,785	3,962
Change	-	-22.4%	-3.65%	-10.32%	-14.95%	-4.2%	-14.42%	-17.2%
Announcement Date	11/02/21	10/02/22	13/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: CEMEX, S.A.B. de C.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	538	862.1	1,060	1,416	1,508	1,370	1,160	1,199
Change	-	60.24%	22.95%	33.58%	6.5%	-9.12%	-15.33%	3.29%
Free Cash Flow (FCF) ¹	734	722	78	788	378	733.3	971.1	1,257
Change	-	-1.63%	-89.2%	910.26%	-52.03%	93.99%	32.43%	29.41%
Announcement Date	11/02/21	10/02/22	13/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: CEMEX, S.A.B. de C.V.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	18.97%	19.67%	17.21%	19.22%	19.01%	19.2%	19.9%	20.37%
EBIT Margin (%)	10.36%	11.92%	10.02%	12.14%	11.28%	10.98%	12.01%	12.91%
EBT Margin (%)	-9.82%	6.4%	4.94%	8.32%	6.05%	9.1%	9.59%	11.04%
Net margin (%)	-11.31%	5.18%	5.51%	1.05%	5.8%	8.63%	6.89%	7.45%
FCF margin (%)	5.66%	4.96%	0.5%	4.52%	2.33%	4.55%	5.73%	7.11%
FCF / Net Income (%)	-50.03%	95.87%	9.09%	432.58%	40.26%	52.78%	83.15%	95.42%
Profitability
ROA	-5.17%	2.79%	3.23%	0.66%	3.37%	8.54%	9.32%	9.81%
ROE	-16.87%	7.84%	8.44%	1.63%	7.84%	10.16%	8.49%	8.95%
Financial Health
Leverage (Debt/EBITDA)	4.16x	2.78x	2.85x	2.05x	1.9x	1.81x	1.42x	1.1x
Debt / Free cash flow	13.94x	11x	98.1x	8.71x	15.44x	7.62x	4.93x	3.15x
Capital Intensity
CAPEX / Current Assets (%)	4.15%	5.93%	6.8%	8.13%	9.31%	8.51%	6.85%	6.78%
CAPEX / EBITDA (%)	21.87%	30.13%	39.54%	42.31%	48.98%	44.33%	34.4%	33.29%
CAPEX / FCF (%)	73.3%	119.41%	1,358.97%	179.7%	398.94%	186.89%	119.5%	95.38%
Items per share
Cash flow per share ¹	-	0.1256	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	0.01	0.01	0.01
Change	-	-	-	-	-	-	0%	0%
Book Value Per Share ¹	-	-	0.7248	0.8139	0.8288	-	-	-
Change	-	-	-	12.3%	1.83%	-	-	-
EPS ¹	-0.0332	0.051	0.06	0.012	0.064	0.1167	0.09	0.1
Change	-	253.61%	17.65%	-80%	433.33%	82.3%	-22.86%	11.11%
Nbr of stocks (in thousands)	1,47,08,429	1,47,08,429	1,44,87,787	1,44,87,787	1,44,90,870	1,44,87,787	1,44,87,787	1,44,87,787
Announcement Date	11/02/21	10/02/22	13/02/23	08/02/24	06/02/25	-	-	-