Grupo Herdez, S.A.B. de C.V.

(BMV:HERDEZ *) > Financials > Key Stats

In Millions of the trading currency, except per share items. Currency: Trading Currency Conversion: Historical
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Dilution: Basic

Key Financials¹

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019A Dec-31-2020A Dec-31-2021A Dec-31-2022A Dec-31-2023A Dec-31-2024A
Currency MXN MXN MXN MXN MXN MXN

Total Revenue 22,420.4 24,036.3 26,153.2 31,645.7 36,212.8 37,424.9

Growth Over Prior Year 6.9% 7.2% 8.8% 21.0% 14.4% 3.3%

Gross Profit 8,632.9 8,988.2 9,651.8 11,206.0 14,078.2 14,960.7

Margin % 38.5% 37.4% 36.9% 35.4% 38.9% 40.0%

EBITDA 3,418.8 3,479.7 3,581.7 4,419.9 5,696.1 5,921.2

Margin % 15.2% 14.5% 13.7% 14.0% 15.7% 15.8%

EBIT 2,898.4 2,878.4 3,026.0 3,780.1 5,051.1 5,322.5

Margin % 12.9% 12.0% 11.6% 11.9% 13.9% 14.2%

Earnings from Cont. Ops. 2,224.0 2,368.5 2,078.3 2,265.6 3,325.5 3,347.5
Margin % 9.9% 9.9% 7.9% 7.2% 9.2% 8.9%

Net Income 1,014.5 828.0 725.7 776.6 1,320.4 1,359.9

Margin % 4.5% 3.4% 2.8% 2.5% 3.6% 3.6%

Diluted EPS Excl. Extra Items³ 2.48 2.17 2.02 2.28 3.98 4.19
Growth Over Prior Year (8.9%) (12.4%) (6.7%) 12.5% 74.8% 5.2%

Currency MXN MXN MXN MXN MXN MXN

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H

¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages
³All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials.
†Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page.
Growth Rates are calculated in originally reported currency only and will not reflect any currency conversion selected above.

Current Capitalization (Millions of MXN)

Currency MXN
Share Price 55.69
Shares Out. 322.0

Market Capitalization 17,929.9

- Cash & Short Term Investments 3,286.8
+ Total Debt 10,529.6
+ Pref. Equity -
+ Total Minority Interest 10,247.0
- Long Term Marketable Securities -
= Total Enterprise Value (TEV) 35,419.8

Book Value of Common Equity 7,892.8

+ Pref. Equity -
+ Total Minority Interest 10,247.0
+ Total Debt 10,529.6
= Total Capital 28,669.4

**For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.

Total Liability includes Total Debt, Minority Interest and Pref. Equity.
Net Liability includes Total Liability, net of Cash and Short Term Investments.
TEV includes Market Cap and Net Liability.
Total Capital includes Common Equity and Total Liability.

Valuation Multiples based on Current Capitalization

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months
Dec-31-2022A Dec-31-2023A Dec-31-2024A Dec-31-2025E Dec-31-2026E
TEV/Total Revenue 1.1x 1.0x 0.9x 0.90x 0.88x

TEV/EBITDA 6.7x 5.1x 5.1x 5.09x 4.85x

TEV/EBIT 8.3x 6.1x 6.2x 6.30x 6.00x

P/Diluted EPS Before Extra 24.5x 14.0x 13.3x 10.39x -

P/BV 2.7x 2.6x 2.3x - -

Price/Tang BV NM NM NM - -
 12 months† 12 months
Dec-31-2025E Dec-31-2026E
MXN MXN

39,501.5 40,236.0
5.55% 1.86%

- -
- -

6,956.0 7,296.0
17.61% 18.13%

5,620.0 5,905.0
14.23% 14.68%

- -
- -

1,638.0 1,947.0
4.15% 4.84%

5.36 -
27.92% -

MXN MXN
1.0 1.0
S S

ment pages.
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Income Statement
In Millions of the reported currency, except per share items. Template: Standard Restatement:
Period Type: Annual Order:
Currency: Reported Currency Conversion:
Units: S&P Capital IQ (De Decimals:
Source: Capital IQ & Propr

Income Statement

For the Fiscal Period Ending 12 months 12 months 12 months 12 months

Dec-31-2019 Dec-31-2020 Dec-31-2021 Analisis vertical Dec-31-2022 Analisis vertical
Currency MXN MXN MXN MXN

Revenue 22,420.4 24,036.3 26,153.2 100.00% 31,645.7 100.00%

Other Revenue - - - -
Total Revenue 22,420.4 24,036.3 26,153.2 100.00% 31,645.7 100.00%

Cost Of Goods Sold 13,787.5 15,048.1 16,501.5 63.10% 20,439.8 64.59%

Gross Profit 8,632.9 8,988.2 9,651.8 36.90% 11,206.0 35.41%

Selling General & Admin Exp. 5,785.9 6,141.2 6,567.2 25.11% 7,494.2 23.68%
R & D Exp. - - - -
Depreciation & Amort. - - - -
Other Operating Expense/(Income) (51.4) (31.4) 58.5 0.22% (68.4) -0.22%

Other Operating Exp., Total 5,734.5 6,109.8 6,625.7 25.33% 7,425.8 23.47%

Operating Income 2,898.4 2,878.4 3,026.0 11.57% 3,780.1 11.95%

Interest Expense (724.3) (906.9) (848.5) -3.24% (1,050.3) -3.32%

Interest and Invest. Income 146.0 342.8 133.0 0.51% 268.9 0.85%
Net Interest Exp. (578.4) (564.1) (715.5) -2.74% (781.4) -2.47%

Income/(Loss) from Affiliates 775.9 757.0 803.1 3.07% 466.1 1.47%

Currency Exchange Gains (Loss) (33.8) 62.6 12.1 0.05% 51.6 0.16%
Other Non-Operating Inc. (Exp.) - - - -
EBT Excl. Unusual Items 3,062.2 3,133.9 3,125.7 11.95% 3,516.4 11.11%

Impairment of Goodwill - - - -
Gain (Loss) On Sale Of Invest. - (2.8) - -
Gain (Loss) On Sale Of Assets 88.4 251.9 (4.4) -0.02% 3.0 0.01%
Asset Writedown - - - -
Insurance Settlements 3.1 1.3 24.9 0.10% 10.9 0.03%
Other Unusual Items - (42.3) (39.9) -0.15% -
EBT Incl. Unusual Items 3,153.7 3,342.1 3,106.3 11.88% 3,530.3 11.16%

Income Tax Expense 929.7 973.7 1,028.0 3.93% 1,264.7 4.00%

Earnings from Cont. Ops. 2,224.0 2,368.5 2,078.3 7.95% 2,265.6 7.16%

Earnings of Discontinued Ops. - - - -

Extraord. Item & Account. Change - - - -
Net Income to Company 2,224.0 2,368.5 2,078.3 7.95% 2,265.6 7.16%

Minority Int. in Earnings (1,209.5) (1,540.5) (1,352.5) -5.17% (1,488.9) -4.70%

Net Income 1,014.5 828.0 725.7 2.77% 776.6 2.45%

Pref. Dividends and Other Adj. - - - -

NI to Common Incl Extra Items 1,014.5 828.0 725.7 776.6

NI to Common Excl. Extra Items 1,014.5 828.0 725.7 776.6

Per Share Items

Basic EPS 2.48 2.17 2.02 2.28
Basic EPS Excl. Extra Items 2.48 2.17 2.02 2.28
Weighted Avg. Basic Shares Out. 409.8 381.8 358.6 341.0

Diluted EPS 2.48 2.17 2.02 2.28

Diluted EPS Excl. Extra Items 2.48 2.17 2.02 2.28
Weighted Avg. Diluted Shares Out. 409.8 381.8 358.6 341.0

Normalized Basic EPS 1.72 1.1 1.68 2.08

Normalized Diluted EPS 1.72 1.1 1.68 2.08

Dividends per Share 1.1 1.2 1.2 1.2

Payout Ratio % 44.3% 50.5% 59.3% 52.7%

Shares per Depository Receipt 4.0 4.0 4.0 4.0

Supplemental Items
EBITDA 3,418.8 3,479.7 3,581.7 4,419.9
EBITA 2,938.1 2,952.6 3,053.3 3,807.1
EBIT 2,898.4 2,878.4 3,026.0 3,780.1
EBITDAR 3,558.1 3,632.1 3,740.9 4,604.6
Effective Tax Rate % 29.5% 29.1% 33.1% 35.8%
Current Domestic Taxes NA NA 1,474.0 1,544.8
Total Current Taxes 1,134.6 1,358.8 1,474.0 1,544.8
Deferred Domestic Taxes NA NA (446.0) (280.1)
Total Deferred Taxes (205.0) (385.1) (446.0) (280.1)
Normalized Net Income 704.3 418.2 601.0 708.8
Interest on Long Term Debt 89.0 80.6 81.6 71.3
Non-Cash Pension Expense 15.6 19.2 24.0 27.1
Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024
Restatement Type NC NC NC NC
Calculation Type REP REP REP REP

Supplemental Operating Expense Items

Selling and Marketing Exp. 4,960.7 5,267.5 5,622.3 6,377.8
General and Administrative Exp. 825.2 873.6 944.9 1,116.4
Net Rental Exp. 139.3 152.4 159.3 184.7
Imputed Oper. Lease Interest Exp. 104.2 115.5 102.0 140.0
Imputed Oper. Lease Depreciation 35.2 37.0 57.3 44.7
Maintenance & Repair Exp. 444.4 576.6 614.7 697.6

Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.
Latest Filings
Latest on Right
Historical
Capital IQ (Default)

Analisis horizontal 21-22 Analisis horizontal 23-22

Press Release
12 months 12 months Analisis
Dec-31-2023 Dec-31-2024 vertical VAR 21-22 VAR 21-22 VAR 21-22 VAR 22-23 VAR 22-23 VAR 22-23
MXN MXN Cantid % Razon Cantid % Razon

36,212.8 37,424.9 100.00% 5,492.48 21.00% 1.2100 4,567.11 14.43% 1.1443

- -
36,212.8 37,424.9 100.00% 5,492.48 21.00% 1.2100 4,567.11 14.43% 1.1443

22,134.6 22,464.1 61.12% 3,938.29 23.87% 1.2387 1,694.82 8.29% 1.0829

14,078.2 14,960.7 38.88% 1,554.20 16.10% 1.1610 2,872.29 25.63% 1.2563

9,096.4 9,739.7 25.12% 926.99 14.12% 1.1412 1,602.16 21.38% 1.2138

- -
- -
(69.2) (101.5) -0.19% - 126.92 -216.88% -1.1688 - 0.80 1.17% 1.0117

9,027.1 9,638.2 24.93% 800.08 12.08% 1.1208 1,601.32 21.56% 1.2156

5,051.1 5,322.5 13.95% 754.12 24.92% 1.2492 1,270.98 33.62% 1.3362

(1,074.3) (1,082.3) -2.97% - 201.80 23.78% 1.2378 - 24.00 2.29% 1.0229

338.2 357.2 0.93% 135.88 102.15% 2.0215 69.36 25.80% 1.2580
(736.0) (725.1) -2.03% - 65.90 9.21% 1.0921 45.40 -5.81% 0.9419

771.9 409.0 2.13% - 337.03 -41.97% 0.5803 305.83 65.62% 1.6562

7.9 (62.4) 0.02% 39.51 326.76% 4.2676 - 43.68 -84.65% 0.1535
- -
5,094.9 4,944.1 14.07%
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
- -
- -
(22.8) (18.6) -0.06% 7.41 -168.48% -0.6848 - 25.81 -856.72% -7.5672
 (46.3) (56.3) -0.13%
8.2 15.8 0.02% - 13.99 -56.19% 0.4381 - 2.72 -24.89% 0.7511
31.4 - 0.09%
5,065.4 4,885.0 13.99% 423.99 13.65% 1.1365 1,535.07 43.48% 1.4348
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
1,739.8 1,537.5 4.80%
3,325.5 3,347.5 9.18% 187.284 9.01% 1.0901 1,059.97 46.79% 1.4679

- -
- -
3,325.5 3,347.5 9.18% 187.28 9.01% 1.0901 1,059.97 46.79% 1.4679
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
(2,005.1) (1,987.6) -5.54%
1,320.4 1,359.9 3.65%

- -

1,320.4 1,359.9
1,320.4 1,359.9

3.98 4.19
3.98 4.19
331.7 324.3

3.98 4.19
3.98 4.19
331.7 324.3

3.56 3.4
3.56 3.4

1.5 NA
30.3% 35.8%

4.0 4.0

5,696.1 5,921.2
5,079.8 5,350.4
5,051.1 5,322.5
5,914.3 6,341.7
34.3% 31.5%
1,917.0 2,116.4
1,917.0 2,116.4
(177.1) (578.9)
(177.1) (578.9)
 1,179.2 1,102.4
76.5 82.0
27.4 32.1
Apr-17-2024 Feb-19-2025
O P
REP REP

7,627.6 8,121.5
1,468.8 1,618.2
218.2 420.5
172.6 347.1
45.5 73.4
819.7 933.3

alent.
COMPONENTES DE LA RENTABILIDAD (Análisis DuPont)

Años 2,022 2,023

Utilidad neta / ventas = Margen 2.45% 3.65%
X
ventas / activos totales promedio = Rotación de activos 0.861 0.962
X
activo total /capital contable = Palanca financiera 2.190 2.260
Rentabilidad 4.63% 7.93%
Activo total promedio 2.11% 3.51%
Capital contable promedio

RENTABILIDAD DE ACTIVOS TOTALES

Años 2021 2022 2023

Utilidad neta 725.7 777 1,320
Activos totales promedio 36,762 37,640
Rentabilidad de activos totales 2.11% 3.51%

Cálculo de activos totales promedio

Activo total 35,969 37,554 37,727
Activos totales promedio 36,762 37,640

RENTABILIDAD DEL CAPITAL

Años 1 2 3
Utilidad neta 726 777 1,320
Capital contable promedio 17,285 16,921
Rentabilidad del capital 4.49% 7.80%
Calculo del capital contable promedio
Capital contable 17,423 17,147 16,696
Capital contable promedio 17,285 16,921
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Balance Sheet
In Millions of the reported currency, except per share items. Template: Standard Restatement:
Period Type: Annual Order:
Currency: Reported Currency Conversion:
Units: S&P Capital IQ (De Decimals:
Source: Capital IQ & Propr

Balance Sheet
Balance Sheet as of: Reclassified
Dec-31-2019 Dec-31-2020 Dec-31-2021 Analisis vertical Dec-31-2022 Analisis vertical
Currency MXN MXN MXN MXN
ASSETS
Cash And Equivalents 2,309.5 3,680.6 2,216.1 6% 2,405.8 6%
Total Cash & ST Investments 2,309.5 3,680.6 2,216.1 6% 2,405.8 6%
8,370.93
Accounts Receivable 3,420.4 3,323.5 4,139.3 12% 3,987.4 11%
Other Receivables 1,116.3 1,156.5 1,483.4 4% 1,977.7 5%
Total Receivables 4,536.6 4,479.9 5,622.7 16% 5,965.1 16%
5,051.3 5,793.9
4099.856 5170.358
Inventory 3,991.0 3,370.0 4,829.7 13% 5,511.0 15%
Other Current Assets 137.6 110.2 161.2 0% 140.9 0%
Total Current Assets 10,974.7 11,640.8 12,829.6 36% 14,022.9 37%
8,511.84
Gross Property, Plant & Equipment 11,869.8 10,803.2 11,514.1 32% 12,386.8 33%
Accumulated Depreciation (5,322.1) (5,052.2) (5,497.3) -15% (6,083.6) -16%
Net Property, Plant & Equipment 6,547.7 5,751.1 6,016.8 17% 6,303.2 17%

Long-term Investments 7,186.6 7,258.2 7,418.1 21% 6,885.4 18%

Goodwill 4,555.7 4,300.4 4,295.6 12% 4,493.2 12%
Other Intangibles 2,674.1 2,761.8 2,960.0 8% 3,189.0 8%
Deferred Tax Assets, LT 1,077.6 1,428.7 1,973.2 5% 2,155.8 6%
Other Long-Term Assets 65.1 433.8 475.9 1% 504.5 1%
Total Assets 33,081.4 33,574.7 35,969.1 100% 37,554.0 100%

LIABILITIES 3228.519 4498.844

Accounts Payable 2,522.8 2,722.5 3,734.6 10% 5,263.1 14%
Accrued Exp. 52.1 32.5 142.6 0% 209.1 1%
Short-term Borrowings - - 500.0 1% -
Curr. Port. of LT Debt 3.9 - 250.0 1% 2,000.0 5%
Curr. Port. of Leases 303.8 360.5 265.4 1% 325.8 1%
Curr. Income Taxes Payable 170.6 17.6 288.4 1% 221.9 1%
Other Current Liabilities 1,574.7 1,674.2 1,921.6 5% 2,028.7 5%
 Total Current Liabilities 4,627.9 4,807.3 7,102.6 20% 10,048.7 27%

Long-Term Debt 7,960.4 9,456.1 9,216.7 26% 8,466.8 23%

Long-Term Leases 594.9 477.0 672.1 2% 479.8 1%
Unearned Revenue, Non-Current - - 1.6 0% 1.9 0%
Pension & Other Post-Retire. Benefits 263.8 371.2 350.6 1% 380.3 1%
Def. Tax Liability, Non-Curr. 1,273.8 1,049.0 1,166.2 3% 1,029.9 3%
Other Non-Current Liabilities 113.0 77.5 36.3 0% -
Total Liabilities 14,833.8 16,238.2 18,546.2 52% 20,407.3 54%

Common Stock 575.6 575.6 575.6 2% 575.6 2%

Additional Paid In Capital 135.3 135.3 135.3 0% 135.3 0%
Retained Earnings 6,424.2 3,346.7 4,741.5 13% 3,361.8 9%
Treasury Stock - - - #VALUE! -
Comprehensive Inc. and Other 838.8 3,164.6 1,429.3 4% 2,723.8 7%
Total Common Equity 7,974.0 7,222.2 6,881.7 19% 6,796.5 18%

Minority Interest 10,273.7 10,114.3 10,541.2 29% 10,350.1 28%

Total Equity 18,247.7 17,336.5 17,422.9 48% 17,146.7 46%

Total Liabilities And Equity 33,081.4 33,574.7 35,969.1 100% 37,554.0 100%

Supplemental Items
Total Shares Out. on Filing Date 399.4 367.8 350.0 335.5
Total Shares Out. on Balance Sheet Date 399.4 367.8 350.0 335.5
Book Value/Share 19.97 19.64 19.66 20.26
Tangible Book Value 744.1 160.0 (373.8) (885.7)
Tangible Book Value/Share 1.86 0.44 (1.07) (2.64)
Total Debt 8,862.9 10,293.6 10,904.2 11,272.4
Net Debt 6,553.4 6,613.1 8,688.2 8,866.6
Debt Equiv. of Unfunded Proj. Benefit Obligation 264.0 365.2 350.3 381.3
Debt Equivalent Oper. Leases 1,114.7 1,219.5 1,274.2 1,477.8
Total Minority Interest 10,273.7 10,114.3 10,541.2 10,350.1
Equity Method Investments 7,186.6 7,258.2 7,418.1 6,885.4
Inventory Method FIFO FIFO FIFO FIFO
Raw Materials Inventory 1,325.5 1,128.5 1,698.2 1,880.1
Work in Progress Inventory 0.6 1.1 1.2 0.9
Finished Goods Inventory 2,537.5 2,181.7 3,019.2 3,485.1
Other Inventory Accounts 178.3 163.6 181.6 200.5
Land 390.9 378.4 418.8 420.2
Buildings 2,788.5 2,690.8 2,560.8 2,673.4
Machinery 7,137.9 5,799.7 5,855.8 6,044.9
Construction in Progress 258.1 362.6 747.7 1,062.6
Full Time Employees NA 9,637 10,300 10,587
Accum. Allowance for Doubtful Accts 90.9 149.4 148.6 135.5
Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024
Restatement Type RD NC NC NC
Calculation Type REP REP REP REP

Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.
Latest Filings
Latest on Right
Historical
Capital IQ (Default)

Analisis horizontal 21-22 Analisis horizontal 23-22

Press Release
Dec-31-2023 Analisis vertical Dec-31-2024 VAR 21-22 VAR 21-22 VAR 21-22 VAR 22-23 VAR 22-23 VAR 22-23
MXN MXN Cantid % Razon Cantid % Razon

1,986.2 5% 3,286.8 189.73 8.56% 1.0856 - 419.65 -17.44% 0.8256

1,986.2 5% 3,286.8 189.73 8.56% 1.0856 - 419.65 -17.44% 0.8256
8,883.97
4,457.0 12% 4,092.5 - 151.92 -3.67% 0.9633 469.67 11.78% 1.1178
2,440.8 6% 1,547.3 494.37 33.33% 1.3333 463.03 23.41% 1.2341
6,897.8 18% 5,639.9 342.45 6.09% 1.0609 932.69 15.64% 1.1564
6,431.4
5263.5705
5,016.1 13% 5,367.0 681.35 14.11% 1.1411 - 494.92 -8.98% 0.9102
102.5 0% 488.4 - 20.24 -12.56% 0.8744 - 38.43 -27.27% 0.7273
14,002.6 37% 14,782.0 1,193.28 9.30% 1.0930 - 20.31 -0.14% 0.9986
8,986.45 8,511.84 #DIV/0! #DIV/0! 474.61 5.58% 1.0558
13,133.8 35% 13,857.0
(6,734.9) -18% (7,503.3) - 586.30 10.67% 1.1067 - 651.30 10.71% 1.1071
6,398.9 17% 6,353.7 286.38 4.76% 1.0476 95.78 1.52% 1.0152
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
6,525.5 17% 7,330.3
4,522.2 12% 4,534.5 197.63 4.60% 1.0460 28.99 0.65% 1.0065
3,267.7 9% 3,602.0 229.07 7.74% 1.0774 78.67 2.47% 1.0247
2,542.0 7% 3,128.1
467.6 1% 472.1 28.56 6.00% 1.0600 - 36.86 -7.31% 0.9269
37,726.5 100% 40,202.7 1,584.92 4.41% 1.0441 172.50 0.46% 1.0046
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
5445.404 1,270.32 39.35% 1.3935 946.56 21.04% 1.2104
5,627.7 15% 6,204.5
267.8 1% -
- -
- 1,000.0 1,750.00 700.00% 8.0000
452.1 1% 440.0 60.40 22.76% 1.2276 126.23 38.74% 1.3874
478.1 1% 294.7 - 66.47 -23.05% 0.7695 256.11 115.39% 2.1539
2,575.6 7% 3,353.8 107.10 5.57% 1.0557 546.94 26.96% 1.2696
 9,401.2 25% 11,293.0 2,946.03 41.48% 1.4148 - 647.45 -6.44% 0.9356
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
9,473.2 25% 8,500.0 - 749.89 -8.14% 0.9186 1,006.42 11.89% 1.1189
525.3 1% 589.7 - 192.35 -28.62% 0.7138 45.51 9.49% 1.0949
2.4 0% -
435.1 1% 560.9 29.71 8.47% 1.0847 54.82 14.41% 1.1441
1,193.0 3% 1,141.2 - 136.34 -11.69% 0.8831 163.16 15.84% 1.1584
- (21.8)
21,030.3 56% 22,062.9 1,861.19 10.04% 1.1004 622.97 3.05% 1.0305
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
575.6 2% 432.3 - 0.00% 1.0000 - 0.00% 1.0000
135.3 0% 135.3
4,416.3 12% 6,746.9 - 1,379.75 -29.10% 0.7090 1,054.56 31.37% 1.3137
- -
1,964.5 5% 578.4 1,294.57 90.58% 1.9058 - 759.34 -27.88% 0.7212
7,091.8 19% 7,892.8
- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!
9,604.4 25% 10,247.0 - 191.08 -1.81% 0.9819 - 745.68 -7.20% 0.9280

16,696.2 44% 18,139.8 - 276.27 -1.59% 0.9841 - 450.46 -2.63% 0.9737

37,726.5 100% 40,202.7 1,584.92 4.41% 1.0441 172.50 0.46% 1.0046

- #DIV/0! #DIV/0! - #DIV/0! #DIV/0!

330.0 322.0
330.0 322.0
21.49 24.51
(698.2) (243.7)
(2.12) (0.76)
10,450.6 10,529.6
8,464.4 7,242.9
429.7 561.8
1,745.4 3,364.0
9,604.4 10,247.0
6,525.5 6,952.1
FIFO NA
1,515.1 1,802.3
19.6 13.4
3,332.9 3,359.6
220.0 260.2
420.3 420.3
2,755.2 2,747.8
6,617.5 6,766.2
593.8 791.5
NA 12,509
174.3 148.3
Apr-17-2024 Feb-19-2025
 O P
REP REP

quivalent.
 Razones de eficiencia operativa
Año 2021
Costo de ventas 16,501
Rotacion de Inventarios = =
Inventario promedio 4,100

365 365
Periodo de inventario = =
Rotación de inventarios 4.02

Rotacion de
Ventas 26,153
cuentas por = =
Cuentas por cobrar promedio 5,051
cobrar
Periodo de
365 365
cuentas por = =
Rotación de ctas por cobrar 5.18
cobrar

Rotacion de COSTO DE VENTAS * 16,501

= =
cuentas por pagar Cuentas por pagar promedio 3,229

Periodo de 365 365

= =
cuentas por pagar Rotación de ctas por pagar 5.11

Inventario final
mas Costo de vtas
menos Inventario inicial
Igual *Compras

Periodo de inventarios + 91
Ciclo operativo = =
Peridodo de cuentas por cobrar 70
Ciclo de
Ciclo operativo - 161
conversion de = =
Peridodo de cuentas por pagar 71
efectivo
Rotacion de Ventas 26,153
= =
activos fijos= Activos fijos promedio 2,210.82

Razones de apalancamiento
Año 2021
Palanca financiera Pasivo total 18,546
=
(apalancamiento) Capital contable 17,423

Pasivo total 18,546

Razón de endeudamiento =
Activo total 35,969

Pasivo circulante Pasivo circulante 7,103

=
a pasivo total Pasivo total 18,546
 Razones de liquidez
Año 2021
Activo circulante 12,830
Razón circulante = =
Pasivo circulante 7,103

Activo circulante-inventarios 8,000

Prueba de ácido = =
Pasivo circulante 7,103
valores negociables de
Liquidez corto plazo 2,216
=
inmediata= Pasivo a corto plazo 7,103

Capital neto de 12,830

Activo circulante- Pasivo a corto plazo =
trabajo= 7,103

Capital de trabajo neto 5,727

Margen de seguridad= =
Pasivo circulante 7,103

E + IT + CxC 7,839
Intervalo defensivo= =
Gastos de Producción sin Depreciación 12,997
rativa Razones de eficiencia o
4.02 veces Costo de ventas
Rotacion de Inventarios =
Inventario promedio

91 DIAS 365
Periodo de inventario =
Rotación de inventarios

Rotacion de
5.18 VECES Ventas
cuentas por =
Cuentas por cobrar promedio
cobrar
Periodo de
70 DIAS 365
cuentas por =
Rotación de ctas por cobrar
cobrar
5.11 VECES Rotacion de COSTO DE VENTAS *
=
cuentas por pagar Cuentas por pagar promedio

71 DIAS Periodo de 365

=
cuentas por pagar Rotación de ctas por pagar

CV= II + COMPRAS - IF Inventario final

mas Costo de vtas
menos Inventario inicial
Igual *Compras

161 DIAS Periodo de inventarios +

Ciclo operativo =
Peridodo de cuentas por cobrar
Ciclo de
90 DIAS Ciclo operativo -
conversion de =
Peridodo de cuentas por pagar
efectivo
11.83 Rotacion de Ventas
=
activos fijos= Activos fijos promedio

camiento Razones de apal

1.06 Palanca financiera Pasivo total
= =
(apalancamiento) Capital contable

0.52 Pasivo total

= Razón de endeudamiento =
Activo total

0.38 Pasivo circulante Pasivo circulante

= =
a pasivo total Pasivo total
 Razones de liquid
1.81 veces Activo circulante
Razón circulante =
Pasivo circulante

1.13 veces Activo circulante-inventarios

Prueba de ácido =
Pasivo circulante
valores negociables de
0.31 veces Liquidez corto plazo
inmediata= Pasivo a corto plazo

5,727 Capital neto de

Activo circulante- Pasivo a corto plazo
trabajo=

0.81 Capital de trabajo neto

Margen de seguridad=
Pasivo circulante

0.60 E + IT + CxC
Intervalo defensivo=
Gastos de Producción sin Depreciación
 eficiencia operativa Razones
Año 2022
20,440 3.95 veces
= Rotacion de Inventarios
5,170

365 92 DIAS
= Periodo de inventario
3.95

Rotacion de
31,646 5.46 VECES
= cuentas por
5,794
cobrar
Periodo de
365 67 DIAS
= cuentas por
5.46
cobrar
20,440 4.54 VECES Rotacion de
=
4,499 cuentas por pagar

365 80 DIAS Periodo de

=
4.54 cuentas por pagar

nventario final CV= II + COMPRAS - IF

osto de vtas
nventario inicial
Compras

92 159 DIAS
= Ciclo operativo
67
Ciclo de
159 79 DIAS
= conversion de
80
efectivo
31,646 13.57 Rotacion de
=
2,332.77 activos fijos=

nes de apalancamiento Ra
Año 2022
Pasivo total 20,407 1.19 Palanca financiera
=
Capital contable 17,147 (apalancamiento)

Pasivo total 20,407 0.54

= Razón de endeudamiento
Activo total 37,554

Pasivo circulante 10,049 0.27 Pasivo circulante

=
Pasivo total 37,554 a pasivo total
nes de liquidez Raz
Año 2022
14,023 1.40 veces
= Razón circulante =
10,049

8,512 0.85 veces

= Prueba de ácido =
10,049

2,406 0.24 veces Liquidez

=
10,049 inmediata=

14,023 3,974 Capital neto de

=
10,049 trabajo=

3,974 0.40
= Margen de seguridad=
10,049

8,371 0.58
= Intervalo defensivo=
14,365
 Razones de eficiencia operativa
Año 2023
Costo de ventas 22,135 4.21 veces
= =
Inventario promedio 5,264

365 365 87 DIAS

= =
Rotación de inventarios 4.21

Ventas 36,213 5.63 VECES

= =
Cuentas por cobrar promedio 6,431

365 365 65 DIAS

= =
Rotación de ctas por cobrar 5.63

COSTO DE VENTAS * 22,135 4.06 VECES

= =
Cuentas por pagar promedio 5,445

365 365 90 DIAS

= =
Rotación de ctas por pagar 4.06

Inventario final CV= II + COMPRAS - IF

mas Costo de vtas
menos Inventario inicial
Igual *Compras

Periodo de inventarios + 87 152 DIAS

= =
Peridodo de cuentas por cobrar 65

Ciclo operativo - 152 62 DIAS

= =
Peridodo de cuentas por pagar 90

Ventas 36,213 14.45

= =
Activos fijos promedio 2,506.27

Razones de apalancamiento
Año 2023
Palanca financiera Pasivo total 21,030 1.26
= =
(apalancamiento) Capital contable 16,696

Pasivo total 21,030 0.56

ón de endeudamiento = =
Activo total 37,727

Pasivo circulante Pasivo circulante 9,401 0.25

= =
a pasivo total Pasivo total 37,727
 Razones de liquidez
Año 2023
Activo circulante 14,003 1.49 veces
=
Pasivo circulante 9,401

Activo circulante-inventarios 8,986 0.96 veces

=
Pasivo circulante 9,401
valores negociables de
corto plazo 1,986 0.21 veces
=
Pasivo a corto plazo 9,401

14,003 4,601
Activo circulante- Pasivo a corto plazo =
9,401

Capital de trabajo neto 4,601 0.49

=
Pasivo circulante 9,401

E + IT + CxC 8,884 0.57

=
Gastos de Producción sin Depreciación 15,575
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Cash Flow
In Millions of the reported currency, except per share items. Template: Standard Restatement: Latest Filings
Period Type: Annual Order: Latest on Right
Currency: Reported Currency Conversion: Historical
Units: S&P Capital IQ (De Decimals: Capital IQ (Default)
Source: Capital IQ & Propr

Cash Flow

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Currency MXN MXN MXN MXN MXN MXN

Net Income 1,014.5 828.0 725.7 776.6 1,320.4 1,359.9

Depreciation & Amort. 767.7 844.9 875.9 1,026.7 1,102.8 1,142.3
Amort. of Goodwill and Intangibles 39.7 74.2 27.3 26.9 28.7 27.8
Depreciation & Amort., Total 807.4 919.0 903.1 1,053.6 1,131.5 1,170.1

Other Amortization 20.2 23.7 34.1 58.0 61.2 79.6

(Gain) Loss From Sale Of Assets (88.4) (251.9) 4.4 (7.8) 48.7 42.3
(Gain) Loss On Sale Of Invest. - (165.4) - (37.1) - -
(Income) Loss on Equity Invest. (775.9) (757.0) (803.1) (466.1) (771.9) (409.0)
Other Operating Activities 1,948.6 1,928.0 2,212.0 2,148.1 3,139.8 2,071.1
Change in Acc. Receivable (214.4) 136.2 (911.7) 303.0 (373.1) 307.2
Change In Inventories (363.6) 564.1 (1,459.7) (643.9) 494.9 (350.9)
Change in Acc. Payable 297.4 202.4 997.4 1,382.2 368.0 500.8
Change in Other Net Operating Assets 50.0 (594.8) (388.0) (307.1) (400.8) 999.9
Cash from Ops. 2,695.9 2,832.2 1,314.3 4,259.7 5,018.8 5,771.1

Capital Expenditure (754.3) (549.6) (722.5) (788.8) (612.3) (678.3)

Sale of Property, Plant, and Equipment 138.7 849.1 55.4 62.6 13.9 -
Cash Acquisitions (324.7) - - (562.4) - -
Divestitures - 68.1 - - - -
Sale (Purchase) of Intangible assets (271.3) (160.9) (260.9) (281.0) (287.7) (344.7)
Invest. in Marketable & Equity Securt. 0.4 340.3 (99.4) 33.8 (69.8) (20.7)
Net (Inc.) Dec. in Loans Originated/Sold - - - - - -
Other Investing Activities 592.4 985.9 1,042.6 989.6 1,056.9 560.1
Cash from Investing (618.8) 1,532.8 15.3 (546.1) 100.9 (483.6)

Short Term Debt Issued - - - - - -

Long-Term Debt Issued 2,400.0 5,000.0 1,650.0 4,475.0 2,000.0 1,000.0
Total Debt Issued 2,400.0 5,000.0 1,650.0 4,475.0 2,000.0 1,000.0
Short Term Debt Repaid - - - - - -
Long-Term Debt Repaid (1,368.4) (3,881.6) (1,528.0) (4,415.0) (3,480.0) (1,547.5)
Total Debt Repaid (1,368.4) (3,881.6) (1,528.0) (4,415.0) (3,480.0) (1,547.5)

Repurchase of Common Stock (900.8) (1,132.4) (757.0) (420.6) (223.3) (394.8)

Common Dividends Paid (449.9) (418.1) (430.4) (409.5) (399.5) (487.2)

Total Dividends Paid (449.9) (418.1) (430.4) (409.5) (399.5) (487.2)

Special Dividend Paid - - - - - -

Other Financing Activities (1,466.7) (2,578.4) (1,741.8) (2,722.9) (3,373.2) (2,639.0)
Cash from Financing (1,785.7) (3,010.5) (2,807.3) (3,493.0) (5,476.0) (4,068.4)

Foreign Exchange Rate Adj. (8.5) 16.7 13.2 (30.9) (63.3) 81.6
Net Change in Cash 282.9 1,371.1 (1,464.5) 189.7 (419.7) 1,300.6

Supplemental Items
Cash Interest Paid 599.9 776.6 761.9 987.2 1,037.4 971.2
Cash Taxes Paid 1,010.1 1,572.9 1,269.6 1,628.1 1,659.8 2,426.6
Levered Free Cash Flow 1,036.3 2,296.0 302.0 2,380.1 3,605.2 4,301.9
Unlevered Free Cash Flow 1,488.9 2,862.8 832.3 3,036.5 4,276.7 4,978.3
Change in Net Working Capital 124.6 (831.6) 1,012.9 (632.1) (827.0) (1,425.0)
Net Debt Issued 1,031.6 1,118.4 122.0 60.0 (1,480.0) (547.5)
Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024 Apr-17-2024 Feb-19-2025
Restatement Type NC NC NC NC O P
Calculation Type REP REP REP REP REP REP
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Multiples
View: Data Frequency: Quarterly
Order: Latest on Right Decimals: Capital IQ (Default)
Dilution: Basic

Multiples Detail
In Millions of the reported currency, except per share items.

For Quarter Ending Mar-27-2024 Jun-28-2024 Sep-30-2024 Dec-31-2024 Mar-26-2025

TEV/LTM Total Revenue Average 0.92x 0.89x 0.93x 0.93x 0.95x
High 0.94x 0.93x 0.98x 0.95x 0.97x
Low 0.89x 0.83x 0.90x 0.90x 0.93x
Close 0.91x 0.92x 0.95x 0.94x 0.95x

TEV/NTM Total Revenues Average 0.87x 0.86x 0.90x 0.89x 0.90x

High 0.88x 0.90x 0.94x 0.92x 0.91x
Low 0.84x 0.78x 0.88x 0.86x 0.87x
Close 0.85x 0.89x 0.92x 0.90x 0.90x

TEV/LTM EBITDA Average 4.83x 4.67x 4.86x 4.92x 5.09x

High 4.95x 4.85x 5.08x 5.29x 5.22x
Low 4.62x 4.32x 4.73x 4.80x 4.96x
Close 4.70x 4.80x 4.95x 5.03x 5.13x

TEV/NTM EBITDA Average 5.16x 4.98x 5.19x 5.11x 5.14x

High 5.33x 5.19x 5.42x 5.27x 5.22x
Low 4.82x 4.59x 5.06x 4.94x 4.99x
Close 4.91x 5.14x 5.28x 5.18x 5.09x

TEV/LTM EBIT Average 5.74x 5.57x 5.81x 5.89x 6.10x

High 5.87x 5.79x 6.08x 6.05x 6.29x
Low 5.51x 5.15x 5.64x 5.74x 5.93x
Close 5.61x 5.73x 5.92x 6.02x 6.18x

TEV/NTM EBIT Average 6.64x - 6.40x 6.29x 6.35x

High 6.76x - 6.65x 6.47x 6.44x
Low 6.42x - 6.29x 6.09x 6.18x
Close 6.53x - 6.48x 6.39x 6.30x

P/LTM EPS Average 11.52x 11.85x 12.28x 12.28x 13.09x

High 11.93x 12.95x 13.15x 12.96x 13.74x
Low 10.79x 10.23x 11.72x 11.65x 12.46x
Close 11.25x 12.70x 12.50x 12.82x 13.29x

P/NTM EPS Average 11.27x 11.64x 12.28x 12.36x 11.97x

 High 11.88x 12.81x 13.19x 13.08x 13.35x
Low 10.17x 9.88x 11.76x 11.68x 9.98x
Close 10.59x 12.56x 12.54x 12.94x 10.39x

P/LTM Normalized EPS Average 12.96x 13.29x 14.07x 14.45x 15.79x

High 13.58x 14.60x 15.14x 15.38x 16.94x
Low 11.86x 11.52x 13.50x 13.79x 14.78x
Close 12.36x 14.31x 14.39x 15.21x 16.38x

P/BV Average 2.15x 2.20x 2.39x 2.30x 2.33x

High 2.23x 2.41x 2.60x 2.46x 2.46x
Low 2.00x 1.90x 2.29x 2.14x 2.18x
Close 2.08x 2.36x 2.47x 2.35x 2.27x

P/Tangible BV Average NM NM NM NM NM
High NM NM NM NM NM
Low NM NM NM NM NM
Close NM NM NM NM NM

P/NTM CFPS Average 8.52x - - - -

High 9.14x - - - -
Low 7.41x - - - -
Close 7.72x - - - -

TEV/LTM Unlevered FCF Average 7.79x 6.59x 6.57x 7.99x 8.02x

High 7.94x 7.68x 6.85x 8.71x 8.85x
Low 7.51x 5.87x 6.43x 6.54x 6.97x
Close 7.65x 6.53x 6.68x 8.66x 7.11x

Market Cap/LTM Levered FCF Average 4.22x 3.75x 3.76x 4.65x 4.77x
High 4.39x 4.12x 4.02x 5.24x 5.41x
Low 3.91x 3.14x 3.59x 3.66x 4.00x
Close 4.07x 3.90x 3.82x 5.18x 4.17x

Average multiples are calculated using positive close values on each trading day within the frequency periods selected. Negative values are excluded from the calculation. When the Multiples are not meaningful, due to neg

When a mismatch exists between the currency of the equity listing and the reported financial results such results are translated into the currency of the listing at the exchange rate applicable on the financial period end date.

Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
ul, due to negative values, then they will not be displayed in the chart.

iod end date.

Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Historical Capitalization
In Millions of the trading currency, except per share items. Frequency: Quarterly Order: Latest on Right
Currency: Trading Currency Conversion: Historical
Units: S&P Capital IQ (De Decimals: Capital IQ (Default)
Dilution: Basic

Historical Capitalization
Balance Sheet as of:
Mar-31-2023 Jun-30-2023 Sep-30-2023 Mar-31-2024 Jun-30-2024 Sep-30-2024
Pricing as of* Apr-19-2023 Jul-20-2023 Oct-18-2023 Apr-17-2024 Jul-24-2024 Oct-25-2024
Currency MXN MXN MXN MXN MXN MXN
Capitalization Detail
Share Price 45.1 47.57 38.14 42.61 51.16 51.37
Shares Out. 335.1 335.1 330.8 328.6 324.0 322.9

Market Capitalization 15,111.1 15,938.6 12,616.8 14,001.8 16,576.4 16,586.2

- Cash & Short Term Investments 3,057.2 2,398.3 3,504.3 3,855.6 2,354.9 2,697.6
+ Total Debt 11,311.1 11,345.1 11,487.4 10,346.7 10,374.8 10,369.9
+ Pref. Equity - - - - - -
+ Total Minority Interest 10,142.8 10,002.3 9,876.2 9,620.7 9,613.7 9,904.8
- Long Term Marketable Securities - - - - - -
= Total Enterprise Value (TEV) 33,507.7 34,887.7 30,476.2 30,113.7 34,210.0 34,163.3

Book Value of Common Equity 6,795.4 6,690.6 6,892.2 7,367.5 7,146.1 7,505.5
+ Pref. Equity - - - - - -
+ Total Minority Interest 10,142.8 10,002.3 9,876.2 9,620.7 9,613.7 9,904.8
+ Total Debt 11,311.1 11,345.1 11,487.4 10,346.7 10,374.8 10,369.9
= Total Capital 28,249.3 28,038.0 28,255.9 27,335.0 27,134.6 27,780.2

* Pricing as of the filing date of the balance sheet period end date. For
TEV calculation purposes on this page Capital IQ only uses balance
sheet components from the original filing that is publicly available as of
a given pricing date and does not use restated balance sheet data from
a later filing. In the cases where a company did not disclose balance
sheet values for a particular period, TEV is calculated using balance
sheet components from the last reported balance sheet as of this date.
The table above is organized along period end dates.
** For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.

Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Capital Structure Summary
In Millions of the reported currency, except ratios and % of Total
values. Restatement: Latest Filings Period Type: Annual
Currency: Reported Currency Conversion: Historical
Units: S&P Capital IQ (De Decimals: Capital IQ (Default)
Order: Latest on Right

Capital Structure Data

For the Fiscal Period Ending
12 months Dec-31-2021 12 months Dec-31-2022 12 months Dec-31-2023
Currency MXN MXN MXN
Units Millions % of Total Millions % of Total Millions % of Total

Total Debt 10,904.2 38.5% 11,272.4 39.7% 10,450.6 38.5%

Total Common Equity 6,881.7 24.3% 6,796.5 23.9% 7,091.8 26.1%
Total Minority Interest 10,541.2 37.2% 10,350.1 36.4% 9,604.4 35.4%
Total Capital 28,327.2 100.0% 28,419.1 100.0% 27,146.8 100.0%

Debt Summary Data

For the Fiscal Period Ending
12 months Dec-31-2021 12 months Dec-31-2022 12 months Dec-31-2023
Currency MXN MXN MXN
Units Millions % of Total Millions % of Total Millions % of Total

Total Term Loans 2,500.0 22.9% - - 1,000.0 9.6%

Total Senior Bonds and Notes 7,500.0 68.8% 10,500.0 93.1% 8,500.0 81.3%
Total Lease Liabilities 937.6 8.6% 805.6 7.1% 977.4 9.4%
General/Other Borrowings 1.6 0.0% 1.9 0.0% 2.4 0.0%
Total Principal Due 10,939.1 100.3% 11,307.5 100.3% 10,479.8 100.3%

Total Adjustments (34.9) (0.3%) (35.1) (0.3%) (29.2) (0.3%)

Total Debt Outstanding 10,904.2 100.0% 11,272.4 100.0% 10,450.6 100.0%

Additional Totals
Total Cash & ST Investments 2,216.1 - 2,405.8 - 1,986.2 -
Net Debt 8,688.2 - 8,866.6 - 8,464.4 -
Total Senior Debt 10,939.1 100.3% 11,307.5 100.3% 10,479.8 100.3%
Total Short-Term Borrowings 500.0 4.6% - - - -
Curr. Port. of LT Debt/Cap. Leases 515.4 4.7% 2,325.8 20.6% 452.1 4.3%
Long-Term Debt (Incl. Cap. Leases) 9,888.8 90.7% 8,946.6 79.4% 9,998.5 95.7%
Total Bank Debt 2,500.0 22.9% - - 1,000.0 9.6%
Total Secured Debt 937.6 8.6% 805.6 7.1% 977.4 9.4%
Total Senior Secured Debt 937.6 8.6% 805.6 7.1% 977.4 9.4%
Total Unsecured Debt 10,001.6 91.7% 10,501.9 93.2% 9,502.4 90.9%
Senior Unsecured Bonds and Notes 7,500.0 68.8% 10,500.0 93.1% 8,500.0 81.3%
Fixed Rate Debt 6,500.0 59.6% 8,000.0 71.0% 6,000.0 57.4%
Variable Rate Debt 3,500.0 32.1% 2,500.0 22.2% 3,500.0 33.5%

Credit Ratios
Net Debt/EBITDA 2.2x - 1.8x - 1.4x -
Total Debt/EBITDA 2.8x - 2.3x - 1.7x -
Total Senior Debt/EBITDA 2.8x - 2.3x - 1.7x -
Total Senior Secured/EBITDA 0.2x - 0.2x - 0.2x -
Net Debt/(EBITDA-CAPEX) 2.7x - 2.2x - 1.5x -
Total Debt/(EBITDA-CAPEX) 3.4x - 2.8x - 1.9x -
Total Senior Debt/(EBITDA-CAPEX) 3.4x - 2.8x - 1.9x -
Total Senior Secured/(EBITDA-CAPEX) 0.3x - 0.2x - 0.2x -

Fixed Payment Schedule

LT Debt (Incl. Cap. Leases) Due +1 1,309.6 12.0% 2,341.8 20.8% 1,105.6 10.6%
LT Debt (Incl. Cap. Leases) Due +2 2,129.6 19.5% 552.9 4.9% 1,955.1 18.7%
LT Debt (Incl. Cap. Leases) Due +3 605.3 5.6% 1,205.3 10.7% 1,500.9 14.4%
LT Debt (Incl. Cap. Leases) Due, Next 5 Yrs 4,044.5 37.1% 4,099.9 36.4% 4,561.6 43.6%
LT Debt (Incl. Cap. Leases) Due, After 5 Yrs 6,861.3 62.9% 7,177.8 63.7% 5,891.4 56.4%

Cap. Lease Payment Due +1 265.4 - 325.8 - 452.1 -

Cap. Lease Payment Due, Next 5 Yrs 265.4 - 325.8 - 452.1 -
Cap. Lease Payment Due, After 5 Yrs 673.7 - 481.7 - 527.7 -

Interest Rate Data

Filing Date Apr-20-2023 - Apr-17-2024 - Apr-17-2024 -
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Capital Structure Details

Principal Due in Millions of the

reported currency. Period Type: Annual Source: A 2023 filed Apr-17-2024
Currency: Reported Currency Conversion: Historical
Units: S&P Capital IQ (Def Decimals: Capital IQ (Default)

FY 2023 (Dec-31-2023) Capital Structure As Reported Details

Coupon/Base
Description Type Principal Due (MXN) Rate Floating Rate Maturity Seniority Secured
Bank Loan - BBVA Term Loans 500.0 NA TIIE - 28 Days + 1.170% Aug-22-2025 Senior No
Bank Loan - Scotiabank Term Loans 500.0 NA TIIE - 28 Days + 1.300% Oct-22-2025 Senior No
Franchise Rights Other Borrowings 2.4 NA NA - Senior No
HERDEZ 13 - Bond Bonds and Notes - 8.020% NA Nov-03-2023 Senior No
HERDEZ 17 - Bond Bonds and Notes 2,000.0 9.220% NA May-20-2027 Senior No
HERDEZ 20 - Bond Bonds and Notes 2,500.0 7.780% NA Aug-13-2030 Senior No
HERDEZ 20-2 - Bond Bonds and Notes 1,000.0 NA TIIE - 28 Days + 0.890% Aug-19-2025 Senior No
Herdez 22-2L - Bond Bonds and Notes 1,500.0 NA TIIE - 28 Days + 0.310% Dec-09-2026 Senior No
Herdez 22L - Bond Bonds and Notes 1,500.0 9.780% NA Jun-16-2032 Senior No
Lease Liabilities Capital Lease 977.4 11.000% NA - Senior Yes

FY 2022 (Dec-31-2022) Capital Structure As Reported Details

Coupon/Base
Description Type Principal Due (MXN) Rate Floating Rate Maturity Seniority Secured
Franchise Rights Other Borrowings 1.9 NA NA - Senior No
HERDEZ 13 - Bond Bonds and Notes 2,000.0 8.020% NA Nov-03-2023 Senior No
HERDEZ 17 - Bond Bonds and Notes 2,000.0 9.220% NA May-20-2027 Senior No
HERDEZ 20 - Bond Bonds and Notes 2,500.0 7.780% NA Aug-13-2030 Senior No
HERDEZ 20-2 - Bond Bonds and Notes 1,000.0 NA TIIE - 28 Days + 0.890% Aug-19-2025 Senior No
Herdez 22-2L - Bond Bonds and Notes 1,500.0 NA TIIE - 28 Days + 0.310% Dec-09-2026 Senior No
Herdez 22L - Bond Bonds and Notes 1,500.0 9.780% NA Jun-16-2032 Senior No
Lease Liabilities Capital Lease 805.6 11.000% NA - Senior Yes
 Repaymen
Convertible t Currency
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN

Repaymen
Convertible t Currency
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
No MXN
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Ratios
Restatement: Latest Filings Period Type: Annual
Order: Latest on Right Decimals: Capital IQ (Default)
Source: Capital IQ & Propr

Ratios

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Profitability
Return on Assets % 5.8% 5.4% 5.4% 6.4% 8.4% 8.5%
Return on Capital % 7.0% 6.6% 6.8% 8.3% 11.4% 11.9%
Return on Equity % 12.2% 13.3% 12.0% 13.1% 19.7% 19.2%
Return on Common Equity % 12.4% 10.9% 10.3% 11.4% 19.0% 18.2%

Margin Analysis
Gross Margin % 38.5% 37.4% 36.9% 35.4% 38.9% 40.0%
SG&A Margin % 25.8% 25.5% 25.1% 23.7% 25.1% 26.0%
EBITDA Margin % 15.2% 14.5% 13.7% 14.0% 15.7% 15.8%
EBITA Margin % 13.1% 12.3% 11.7% 12.0% 14.0% 14.3%
EBIT Margin % 12.9% 12.0% 11.6% 11.9% 13.9% 14.2%
Earnings from Cont. Ops Margin % 9.9% 9.9% 7.9% 7.2% 9.2% 8.9%
Net Income Margin % 4.5% 3.4% 2.8% 2.5% 3.6% 3.6%
Net Income Avail. for Common Margin % 4.5% 3.4% 2.8% 2.5% 3.6% 3.6%
Normalized Net Income Margin % 3.1% 1.7% 2.3% 2.2% 3.3% 2.9%
Levered Free Cash Flow Margin % 4.6% 9.6% 1.2% 7.5% 10.0% 11.5%
Unlevered Free Cash Flow Margin % 6.6% 11.9% 3.2% 9.6% 11.8% 13.3%

Asset Turnover
Total Asset Turnover 0.7x 0.7x 0.8x 0.9x 1.0x 1.0x
Fixed Asset Turnover 3.7x 3.9x 4.4x 5.1x 5.7x 5.9x
Accounts Receivable Turnover 6.9x 7.1x 7.0x 7.8x 8.6x 8.8x
Inventory Turnover 3.6x 4.1x 4.0x 4.0x 4.2x 4.3x

Short Term Liquidity

Current Ratio 2.4x 2.4x 1.8x 1.4x 1.5x 1.3x
Quick Ratio 1.5x 1.7x 1.1x 0.8x 0.9x 0.8x
Cash from Ops. to Curr. Liab. 0.6x 0.6x 0.2x 0.4x 0.5x 0.5x
Avg. Days Sales Out. 53.3 51.3 52.1 46.9 42.6 41.8
Avg. Days Inventory Out. 100.8 89.5 90.7 92.3 86.8 84.6
Avg. Days Payable Out. 61.0 66.5 65.6 77.7 91.8 94.9
Avg. Cash Conversion Cycle 93.1 74.3 77.2 61.4 37.5 31.5

Long Term Solvency

 Total Debt/Equity 48.6% 59.4% 62.6% 65.7% 62.6% 58.0%
Total Debt/Capital 32.7% 37.3% 38.5% 39.7% 38.5% 36.7%
LT Debt/Equity 46.9% 57.3% 56.8% 52.2% 59.9% 50.1%
LT Debt/Capital 31.6% 36.0% 34.9% 31.5% 36.8% 31.7%
Total Liabilities/Total Assets 44.8% 48.4% 51.6% 54.3% 55.7% 54.9%

EBIT / Interest Exp. 4.0x 3.2x 3.6x 3.6x 4.7x 4.9x

EBITDA / Interest Exp. 5.1x 4.2x 4.6x 4.6x 5.8x 6.0x
(EBITDA-CAPEX) / Interest Exp. 4.1x 3.6x 3.8x 3.9x 5.2x 5.4x
Total Debt/EBITDA 2.4x 2.7x 2.8x 2.3x 1.7x 1.6x
Net Debt/EBITDA 1.8x 1.7x 2.2x 1.8x 1.4x 1.1x
Total Debt/(EBITDA-CAPEX) 3.0x 3.2x 3.4x 2.8x 1.9x 1.8x
Net Debt/(EBITDA-CAPEX) 2.2x 2.0x 2.7x 2.2x 1.5x 1.2x

Altman Z Score 2.16 1.9 1.88 1.76 2.13 2.15

Growth Over Prior Year

Total Revenue 6.9% 7.2% 8.8% 21.0% 14.4% 3.3%
Gross Profit 4.6% 4.1% 7.4% 16.1% 25.6% 6.3%
EBITDA (2.1%) 1.8% 2.9% 23.4% 28.9% 4.0%
EBITA (3.0%) 0.5% 3.4% 24.7% 33.4% 5.3%
EBIT (2.9%) (0.7%) 5.1% 24.9% 33.6% 5.4%
Earnings from Cont. Ops. (8.2%) 6.5% (12.3%) 9.0% 46.8% 0.7%
Net Income (12.3%) (18.4%) (12.3%) 7.0% 70.0% 3.0%
Normalized Net Income (18.5%) (40.6%) 43.7% 17.9% 66.4% (6.5%)
Diluted EPS before Extra (8.9%) (12.4%) (6.7%) 12.5% 74.8% 5.2%

Accounts Receivable 9.5% (2.8%) 24.5% (3.7%) 11.8% (8.2%)

Inventory 10.0% (15.6%) 43.3% 14.1% (9.0%) 7.0%
Net PP&E 20.2% (12.2%) 4.6% 4.8% 1.5% (0.7%)
Total Assets 11.6% 1.5% 7.1% 4.4% 0.5% 6.6%

Tangible Book Value (53.4%) (78.5%) NM NM NM NM

Common Equity (4.5%) (9.4%) (4.7%) (1.2%) 4.3% 11.3%
Cash from Ops. 27.5% 5.1% (53.6%) 224.1% 17.8% 15.0%
Capital Expenditures 51.9% (27.1%) 31.5% 9.2% (22.4%) 10.8%
Levered Free Cash Flow (4.0%) 121.6% (86.8%) 688.1% 51.5% 19.3%
Unlevered Free Cash Flow 2.5% 92.3% (70.9%) 264.8% 40.8% 16.4%
Dividend per Share 0.0% 9.1% 0.0% 0.0% 25.0% NA

Compound Annual Growth Rate Over Two Years

Total Revenue 5.7% 7.1% 8.0% 14.7% 17.7% 8.7%
Gross Profit 4.6% 4.4% 5.7% 11.7% 20.8% 15.5%
EBITDA 1.6% (0.2%) 2.4% 12.7% 26.1% 15.7%
EBITA 1.4% (1.3%) 1.9% 13.6% 29.0% 18.5%
EBIT 1.5% (1.8%) 2.2% 14.6% 29.2% 18.7%
Earnings from Cont. Ops. 1.3% (1.1%) (3.3%) (2.2%) 26.5% 21.6%
Net Income (1.5%) (15.4%) (15.4%) (3.2%) 34.9% 32.3%
 Normalized Net Income (8.9%) (30.5%) (7.6%) 30.2% 40.1% 24.7%
Diluted EPS before Extra 0.9% (10.7%) (9.6%) 2.5% 40.3% 35.6%

Accounts Receivable 12.2% 3.1% 10.0% 9.5% 3.8% 1.3%

Inventory 11.3% (3.6%) 10.0% 27.9% 1.9% (1.3%)
Net PP&E 8.7% 2.7% (4.1%) 4.7% 3.1% 0.4%
Total Assets 9.0% 6.4% 4.3% 5.8% 2.4% 3.5%

Tangible Book Value (19.4%) (68.4%) NM NM NM NM

Common Equity 0.3% (7.0%) (7.1%) (3.0%) 1.5% 7.8%
Cash from Ops. 14.9% 15.7% (30.2%) 22.6% 95.4% 16.4%
Capital Expenditures 8.5% 5.2% (2.1%) 19.8% (7.9%) (7.3%)
Levered Free Cash Flow 70.6% 45.9% (46.0%) 1.8% 245.5% 34.4%
Unlevered Free Cash Flow 44.4% 40.4% (25.2%) 3.0% 126.7% 28.0%
Dividend per Share 4.9% 4.4% 4.4% 0.0% 11.8% NA

Compound Annual Growth Rate Over Three Years

Total Revenue 7.2% 6.2% 7.6% 12.2% 14.6% 12.7%
Gross Profit 5.9% 4.4% 5.4% 9.1% 16.1% 15.7%
EBITDA 6.6% 1.7% 0.9% 8.9% 17.9% 18.2%
EBITA 6.7% 1.1% 0.3% 9.0% 19.8% 20.6%
EBIT 6.9% 0.8% 0.4% 9.3% 20.6% 20.7%
Earnings from Cont. Ops. 11.8% 3.0% (5.0%) 0.6% 12.0% 17.2%
Net Income 12.2% (7.5%) (14.4%) (8.5%) 16.8% 23.3%
Normalized Net Income 0.5% (21.0%) (11.4%) 0.2% 41.3% 22.4%
Diluted EPS before Extra 14.2% (3.8%) (9.4%) (2.7%) 22.4% 27.5%

Accounts Receivable 17.3% 6.9% 9.8% 5.2% 10.3% (0.4%)

Inventory 9.5% 1.5% 10.0% 11.4% 14.2% 3.6%
Net PP&E 5.7% 1.2% 3.4% (1.3%) 3.6% 1.8%
Total Assets 7.9% 6.4% 6.7% 4.3% 4.0% 3.8%

Tangible Book Value 13.4% (48.1%) NM NM NM NM

Common Equity 2.8% (3.1%) (6.2%) (5.2%) (0.6%) 4.7%
Cash from Ops. 24.9% 11.5% (14.7%) 16.5% 21.0% 63.8%
Capital Expenditures (8.4%) (5.0%) 13.3% 1.5% 3.7% (2.1%)
Levered Free Cash Flow 71.1% 86.2% (34.6%) 31.9% 16.2% 142.4%
Unlevered Free Cash Flow 44.2% 58.8% (16.9%) 26.8% 14.3% 81.5%
Dividend per Share 6.9% 6.3% 2.9% 2.9% 7.7% NA

Compound Annual Growth Rate Over Five Years

Total Revenue 9.4% 8.0% 7.5% 9.5% 11.5% 10.8%
Gross Profit 9.1% 5.8% 5.9% 7.3% 11.3% 11.6%
EBITDA 6.1% 3.5% 4.9% 5.9% 10.3% 11.6%
EBITA 5.5% 2.9% 4.8% 5.9% 10.9% 12.7%
EBIT 5.3% 2.6% 5.0% 6.1% 11.1% 12.9%
Earnings from Cont. Ops. 8.1% 12.9% 5.5% 0.9% 6.5% 8.5%
Net Income 5.6% 16.3% 0.2% (5.8%) 2.7% 6.0%
Normalized Net Income (1.7%) (8.9%) (2.8%) (3.5%) 6.4% 9.4%
Diluted EPS before Extra 6.7% 19.0% 4.0% (1.3%) 7.9% 11.1%

Accounts Receivable 15.0% 17.0% 14.3% 8.0% 7.4% 3.7%

Inventory 15.5% 6.7% 9.7% 11.3% 6.7% 6.1%
Net PP&E 9.1% 2.0% 1.6% 2.6% 3.3% (0.6%)
Total Assets 7.3% 6.6% 6.4% 6.2% 4.9% 4.0%

Tangible Book Value NM NM NM NM NM NM

Common Equity 4.8% 1.4% (1.3%) (3.0%) (3.2%) (0.2%)
Cash from Ops. 5.7% 6.1% (1.0%) 15.8% 18.9% 16.4%
Capital Expenditures 1.2% (12.7%) (5.9%) 4.2% 4.3% (2.1%)
Levered Free Cash Flow (3.7%) 61.3% 7.9% 46.2% 27.3% 32.9%
Unlevered Free Cash Flow (0.2%) 43.6% 10.9% 33.6% 24.1% 27.3%
Dividend per Share 4.1% 5.9% 5.9% 3.7% 6.4% NA
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Supplemental
In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual
Currency: Reported Currency Conversion: Historical
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Source: Capital IQ & Proprietary Data

Supplemental

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Currency MXN MXN MXN MXN MXN MXN
Loss Carry Forward Related Items
NOL C/F, Current Year + 1 - - - 90.4 - -
NOL C/F, After Five Years 625.2 649.2 591.6 930.2 853.1 -
Total NOL C/F 625.2 649.2 591.6 1,020.6 853.1 -
Max. Year for NOL C/F 2029 2030 2031 2032 2033 -

Fair Value Measurements

Level 1 Assets - Quoted Prices 2,474.8 3,777.5 2,277.6 2,467.3 1,996.8 3,328.7
Level 2 Assets - Observable Prices - - 11.2 13.2 - 301.5
Level 3 Assets - Unobservable Prices 286.9 117.3 193.0 123.1 198.8 378.3
Fair Value of Assets 2,761.6 3,894.7 2,481.9 2,603.6 2,195.5 4,008.5

Level 1 Liabilities - Quoted Prices - - - - 21.8 146.1

Level 2 Liabilities - Observable Prices 9,183.6 10,812.3 10,613.6 10,225.5 9,211.8 9,064.1
Fair Value of Liabilities 9,183.6 10,812.3 10,613.6 10,225.5 9,233.7 9,210.2

Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024 Apr-17-2024 Feb-19-2025

Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Industry Specific

In Millions of
the reported
currency,
except per
share items. Restatement: Latest Filin Period Type: Annual
Currency: Reported C Conversion: Historical
Order: Latest on R Units: S&P Capital IQ (Default)
Decimals: Capital IQ (De Source: Capital IQ & Proprietary Data

Industry Specific
No Data Available
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Pension/OPEB
In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual
Currency: Reported Currency Conversion: Historical
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Source: Capital IQ & Proprietary Data

Pension/OPEB

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Currency MXN MXN MXN MXN MXN MXN
Pension Information - Total
Defined Benefit Net Periodic Cost
Def. Benefit Service Cost 18.1 25.9 31.6 36.0 35.5 81.9
Def. Benefit Plan Interest Cost 28.8 30.1 31.3 37.0 45.4 51.3
Def. Benefit Plan Return on Assets (13.2) (11.1) (7.3) (10.0) (18.0) (19.2)
Def. Benefit Plan Other Cost - 0.3 - - - -
Def. Benefit Plan Total Cost 33.7 45.2 55.6 63.0 62.9 114.0

Total Pension Expense 33.7 45.2 55.6 63.0 62.9 114.0

Defined Benefit Obligation

Beg. Def. Benefit Obligation 350.8 453.8 558.6 548.5 569.9 631.9
Def. Benefit Service Cost 18.1 25.9 31.6 37.0 35.5 82.2
Def. Benefit Interest Cost 28.8 30.1 31.3 37.0 45.4 51.3
Def. Benefit Actuarial Gain/Losses 60.2 78.3 (63.5) (17.3) (4.0) 66.8
Def. Benefits Paid (4.1) (29.9) (12.7) (37.4) (14.9) (64.9)
Other Adj. To Def. Benefit Obligation - 0.3 3.4 2.0 - -
Proj. Benefit Obligation (Pension) 453.8 558.6 548.5 569.9 631.9 767.2

Plan Assets
Beg. Plan Assets 184.4 189.8 193.4 198.3 188.5 202.2
Actual Return on Plan Assets 16.4 15.6 14.0 3.8 16.9 4.9
Employer Contributions - - 6.7 - 6.2 -
Benefits Paid (11.0) (12.0) (15.9) (13.6) (9.4) (1.6)
Total Plan Assets 189.8 193.4 198.3 188.5 202.2 205.5

Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
Exp. Long-Term Rate of Return on Assets - Max 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%

Breakdown of Plan Assets

Plan Assets - Fixed Income (%) 76.5% 71.8% 73.0% 76.9% 73.9% 76.0%
Other Plan Assets (%) 23.5% 28.2% 27.0% 23.1% 26.1% 24.0%

Breakdown of Plan Assets

Plan Assets - Fixed Income 145.3 138.9 144.7 145.1 149.4 156.3
Other Plan Assets 44.6 54.5 53.5 43.5 52.8 49.2

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
PBO Assumed Rate of Return - Max 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
Rate of PBO Compensation Increase - Min 4.5% 4.5% 4.5% 4.8% 4.8% 4.8%
Rate of PBO Compensation Increase - Max 4.5% 4.5% 4.5% 4.8% 4.8% 4.8%

Adj. for Liability Recognized on Balance Sheet

Other Adj. (Net Benefit Asset/Liab.) 0.2 (6.0) (0.4) 1.0 (5.4) 0.8
Net Asset/Liability Recognized on Balance Sheet (263.8) (371.2) (350.6) (380.3) (435.1) (560.9)

Other Compr. Income Components Recognized on the BS

Net Actuarial Loss/Gain 72.4 150.8 87.2 75.2 81.6 158.3
Net Amount Recognized 72.4 150.8 87.2 75.2 81.6 158.3

Consolidated Balance Sheet Amounts

Long Term Liabilities (263.8) (371.2) (350.6) (380.3) (435.1) (560.9)

Other Pension Related Items

Benefit Info Date Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024

Pension Information - Domestic

Defined Benefit Net Periodic Cost
Def. Benefit Service Cost 18.1 25.9 31.6 36.0 35.5 81.9
Def. Benefit Interest Cost 28.8 30.1 31.3 37.0 45.4 51.3
Def. Benefit Return On Assets (13.2) (11.1) (7.3) (10.0) (18.0) (19.2)
Def. Benefit Other Cost - 0.3 - - - -
Def. Benefit Total Cost 33.7 45.2 55.6 63.0 62.9 114.0

Defined Benefit Obligation

Beg. Def. Benefit Obligation 350.8 453.8 558.6 548.5 569.9 631.9
Def. Benefit Service Cost 18.1 25.9 31.6 37.0 35.5 82.2
Def. Benefit Interest Cost 28.8 30.1 31.3 37.0 45.4 51.3
Def. Benefit Actuarial Gain/Losses 60.2 78.3 (63.5) (17.3) (4.0) 66.8
Def. Benefits Paid (4.1) (29.9) (12.7) (37.4) (14.9) (64.9)
Other Adj. To Def. Benefit Obligation - 0.3 3.4 2.0 - -
Proj. Benefit Obligation (Pension) - Domestic 453.8 558.6 548.5 569.9 631.9 767.2

Plan Assets
Beg. Plan Assets 184.4 189.8 193.4 198.3 188.5 202.2
Actual Return on Plan Assets 16.4 15.6 14.0 3.8 16.9 4.9
Employer Contributions - - 6.7 - 6.2 -
Benefits Paid (11.0) (12.0) (15.9) (13.6) (9.4) (1.6)
Total Plan Assets 189.8 193.4 198.3 188.5 202.2 205.5

Weighted Avg. Assumptions on Net Periodic Cost

Exp. Long-Term Rate of Return on Assets - Min 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
Exp. Long-Term Rate of Return on Assets - Max 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%

Breakdown of Plan Assets

Plan Assets - Fixed Income (%) 76.5% 71.8% 73.0% 76.9% 73.9% 76.0%
Other Plan Assets (%) 23.5% 28.2% 27.0% 23.1% 26.1% 24.0%

Breakdown of Plan Assets

Plan Assets - Fixed Income 145.3 138.9 144.7 145.1 149.4 156.3
Other Plan Assets 44.6 54.5 53.5 43.5 52.8 49.2

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
PBO Assumed Rate of Return - Max 7.5% 6.5% 8.0% 9.5% 9.8% 10.3%
Rate of PBO Compensation Increase - Min 4.5% 4.5% 4.5% 4.8% 4.8% 4.8%
Rate of PBO Compensation Increase - Max 4.5% 4.5% 4.5% 4.8% 4.8% 4.8%

Adj. for Liability Recognized on Balance Sheet

Other Adj. (Net Benefit Asset/Liab.) 0.2 (6.0) (0.4) 1.0 (5.4) 0.8
Net Asset/Liability Recognized on Balance Sheet (263.8) (371.2) (350.6) (380.3) (435.1) (560.9)

Other Compr. Income Components Recognized on the BS

Net Actuarial Loss/Gain 72.4 150.8 87.2 75.2 81.6 158.3
Net Amount Recognized 72.4 150.8 87.2 75.2 81.6 158.3

Consolidated Balance Sheet Amounts

Long Term Liabilities (263.8) (371.2) (350.6) (380.3) (435.1) (560.9)

Other Pension Related Items

Benefit Info Date Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Grupo Herdez, S.A.B. de C.V. (BMV:HERDEZ *) > Financials > Segments
In Millions of the reported currency. View By: Line Items Restatement: Latest Filings
Period Type: Annual Order: Latest on Right
Currency: Reported Currency Conversion: Historical
Units: S&P Capital IQ (De Decimals: Capital IQ (Default)

Business Segments

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Currency MXN MXN MXN MXN MXN MXN
Revenues
Exports 1,630.1 2,005.3 1,903.7 2,386.0 2,708.3 3,378.0
Momentum 3,228.6 2,607.5 3,272.5 3,916.9 4,677.3 5,102.1
Canned Food 17,561.6 19,423.5 20,977.1 25,342.8 28,827.2 28,944.7
Total Revenues 22,420.4 24,036.3 26,153.2 31,645.7 36,212.8 37,424.9

Gross Profit Before Tax

Exports 223.9 433.6 260.3 289.5 259.8 475.0
Momentum 2,068.3 1,457.3 1,824.6 2,245.9 2,778.1 3,068.6
Canned Food 6,340.7 7,097.3 7,566.9 8,670.6 11,040.3 11,417.1
Total Gross Profit Before Tax 8,632.9 8,988.2 9,651.8 11,206.0 14,078.2 14,960.7

Operating Profit Before Tax

Exports 109.7 300.9 127.5 145.6 66.2 226.2
Momentum 89.1 (734.9) (512.6) (358.5) (306.4) (224.0)
Canned Food 2,791.1 3,688.7 3,391.7 4,044.0 5,261.8 5,277.4
Total Operating Profit Before Tax 2,989.9 3,254.7 3,006.6 3,831.1 5,021.6 5,279.6

Interest Expense
Momentum (56.1) (70.8) (162.5) (113.1) (89.7) -
Canned Food (556.1) (598.8) (540.9) (653.8) (638.4) -
Total Interest Expense (612.1) (669.6) (703.4) (766.9) (728.1) -

Net Profit Before Tax

Exports 109.7 300.9 127.5 145.6 66.2 226.2
Momentum 33.0 (805.7) (675.1) (471.6) (396.1) (329.8)
Canned Food 3,010.9 3,846.8 3,654.0 3,856.3 5,395.3 4,988.6
Total Net Profit Before Tax 3,153.7 3,342.1 3,106.3 3,530.3 5,065.4 4,885.0

Tax Expense
Exports 32.9 90.3 38.2 43.7 19.9 67.9
Momentum 11.4 (234.0) (199.0) (70.3) (90.3) (131.5)
Canned Food 885.4 1,117.4 1,188.7 1,291.4 1,810.3 1,601.1
Total Tax Expense 929.7 973.7 1,028.0 1,264.7 1,739.8 1,537.5

Net Profit After Tax

Exports 38.7 105.4 44.7 53.2 24.7 77.0
Momentum 21.6 (570.8) (475.7) (401.2) (305.8) 0
Canned Food 954.2 1,293.3 1,156.7 1,124.7 1,601.5 1,910.7
Total Net Profit After Tax 1,014.5 828.0 725.7 776.6 1,320.4 1,987.6

Assets
Exports 2,599.7 2,447.0 2,424.3 2,628.2 3,528.4 4,026.1
Momentum 4,286.6 4,467.8 5,072.8 5,433.1 5,630.9 5,699.1
Canned Food 26,195.2 26,659.8 28,472.0 29,492.8 28,567.2 30,477.5
Total Assets 33,081.4 33,574.7 35,969.1 37,554.0 37,726.5 40,202.7

Depreciation & Amortization

Exports 59.3 57.4 57.9 67.0 79.2 97.3
Momentum 417.3 529.7 522.6 600.1 632.9 643.2
Canned Food 351.0 355.6 356.8 444.6 480.6 509.2
Total Depreciation & Amortization 827.6 942.7 937.3 1,111.7 1,192.7 1,249.7

Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024 Apr-17-2024 Feb-19-2025

Geographic Segments

Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Dec-31-2019 Dec-31-2020 Dec-31-2021 Dec-31-2022 Dec-31-2023 Dec-31-2024
Currency MXN MXN MXN MXN MXN MXN
Revenues
Mexico - - - - - 34,046.8
Exports - - - - - 3,378.0
Total Revenues - - - - - 37,424.9

Filing Date Apr-27-2021 Apr-21-2022 Apr-20-2023 Apr-17-2024 Apr-17-2024 Feb-19-2025