Top GDB companies

Top 25 companies in Mexico by Revenue in 2017

by Nicolae Buldumac
Top 25 companies in Mexico by Revenue in 2017

2017 was the first year Mexico’s gross public sector debt dropped after its drastic and continuous growth for the last 12 years, peaking in 2016. The country’s public debt made its way from 37% in 2005 to 58% of GDP in 2016 and to 54% in 2018. It is still high for the region, but it is on a downward path due to the recent changes in fiscal policies.

With all this, 2017 happened to be a quite hard year for the Mexican economy. Gross domestic product shrank by 0,3% in the Q3 and continued to drop down in Q4. The country's economy has shown the slowest growth level since 2013 - just 1.5% in Q4 2017 compared to the Q4 2016. These statistics can be explained by stagnation of the industrial sector, especially construction and mining, as well as by the consistent shocks in the oil and tourism industries after the hurricanes and earthquakes in August and September. In their turn, services have kept their level through the crisis period.

Despite the contractions chasing Mexican economy in the last years, a wide range of areas of local business activity allows the country to go forward and offers multiple possibilities for doing successful business. It would be reasonable to carefully research the industry you’re planning to focus on, learning which companies can boast of the highest annual revenue*. And this is exactly the purpose Global Database team created the TOP-25 Mexican companies by revenue for. Being based on our own B2B business intelligence platform data on Mexico, the list offers you the possibility to choose the most promising investment or partnership opportunity and get some financial insights on the local market, that would be of help for you entering it.

*All figures are in USD. M: Millions of USD, B: Billions of USD.

1. Petróleos Mexicanos ($72.8B)

Petróleos Mexicanos, also known as Pemex, is a petroleum company, owned by the state and having almost 100 years of successful activity. Pemex owes its existence to the fact, that the local Government expropriated and nationalized all the privately-owned oil companies. This was a powerful start and Pemex has kept the leading position in the region for a long time, taking the second place among the largest non-public companies in the world (with $415.75B total assets) in 2005 and being named the second biggest company in Latin America by revenue. As for today, Pemex’s yearly revenue for 2017 was $72.5B, which makes it the first-biggest company by revenue in Mexico.

2. América Móvil ($51.63B)

América Móvil, activating in the telecommunications sector, owns Mexico's biggest mobile operator - Telcel, whose market share is bigger than 70%. Considering the Market Cap of $48B+, 2017 annual revenue of $51.63B and its Claro branch offices in the Caribbean and LatAm, it takes the second place in our rating of largest Mexican companies by revenue. América Móvil was listed in the Forbes Global 200. The seventh place in the list of the biggest mobile network operators in the world judging by the number of clients also belongs to this company.

3. Walmart de México ($30.38B)

Walmart de México (Walmex) is Mexico’s retail sector leading company with an impressive Market Cap of $45.4B. The company represents the most significant Walmart’s subdivision outside the US, showing an annual revenue of $30.38B and operating a very large hypermarkets, grocery stores and discounters chain in Latin America. It is currently present in  Mexico, El Salvador, Honduras, Guatemala, Costa Rica and Nicaragua and is planning a further expansion on the LatAm market. The Global Database detailed data on Walmex can help you get a brilliant partnership opportunity with the company and enter the market successfully.

4. Comisión Federal de Electricidad ($25.7B)

The Comisión Federal de Electricidad or CFE is a company owned by the state and working in the electric power area. It is also the local leader of the sector. It boasts of the second place in the most influential state companies list. The first place belongs to Pemex (see #1 of Global Database TOP-25 Mexican companies by revenue). Bringing the goal to be a world-class company to life, CFE takes care of the national electric industry, controlling and developing it through cross-border interconnections with the USA utilities. Comisión Federal de Electricidad annual revenue for 2017 was $25.7B. Considering the last 5-years positive trend, one can expect it to continue to grow.

5. Fomento Económico Mexicano ($23.45B)

Fomento Económico Mexicano, S.A.B. de C.V. (further as FEMSA) is on the second place in largest Mexican retail companies list after Walmex and the biggest beverage company with a Market Cap of $30.3B. The largest local convenience store chain, OXXO, provides FEMSA access to 14,000+ stores, acting as its retail intermediary on the Mexican market. Fomento Económico Mexicano is the owner of 48% of Coca-Cola FEMSA, selling nonalcoholic beverages through the OXXO locations. Another impressive asset the company owns is the second-largest share of Heineken International. These facts explain the notable annual revenue of $23.45B.

6. General Motors de México ($19B)

General Motors de Mexico, S.A. de C.V. is the Mexican department of the US General Motors and exists since 1935, thus being one of the oldest successful companies in the country. Today, General Motors de Mexico can be named one of the biggest full production plants conglomerate outside the US. Its 4 production plants, 2 enormous warehousing facilities, vast dealers network and the world’s known brands, like Buick, Chevrolet, Cadillac and other make it the Mexican automotive industry leader with a $19B annual revenue.

7. FCA México ($18.1B)

Fiat Chrysler Automobiles (FCA) México is the North American branch of FCA, producing and promoting its brands, like Dodge, Fiat, Ram, Jeep, Chrysler and Alfa Romeo in this part of the world with an annual revenue of more than $18.1B and 5 manufacturing plants. Saltillo Van Assembly Plant, the newest company’s plant and the current leader, became the first FCA manufacturing plant in the North American Trade Agreement (NAFTA) region to get the Industry certification from the Energy Star Challenge.

8. Alfa ($16.6B)

Alfa, Alfa Group or Alfa S.A. is a multinational company from the industrial conglomerates’ sector with a $5.3B Market Cap. This number was reached due to the multiple business directions the syndicate is developing in, like oil and natural gas extraction and petrochemicals production, aluminium auto components manufacturing, IT and telecommunication services provision, and refrigerated foods production. They may seem quite unrelated, but still, together they provided the Alfa Group with a notable $16.6B annual revenue in 2017. Alfa is successfully present in 20+ countries in Asia, Europe and the Americas, including the USA.

9. Grupo Bimbo ($13.9B)

The activity of one of the most prominent Mexican food sector representatives, Grupo Bimbo, S.A.B. de C.V., is built around the bakery product manufacturing. It is represented by brands like Marinale, Bimbo and Oroweat, as well as multiple local brands. The company is present in 32 countries, affording numerous multinational business opportunities to its partners and investors. The last 5 years happened to be quite successful for the company, judging by the continually growing revenue, that increased with almost $100B in this period.

10. Cemex ($13.5B)

Cemex, or Cemex S.A, is a 100+ years old company, whose long history and business success brought it to the second place in the world’s largest building materials companies rating. With a remarkable $7.84B Market Cap and $13.5B annual revenue, Cemex stays in the tenth place in the Global Database Top companies in Mexico by revenue. Cemex is present in 50+ countries all over the world, operating the building materials assets, from cement plants to marine terminals, distribution centres and concrete-mix aggregates.

11. Grupo Financiero BBVA Bancomer ($12.8B)

Grupo Financiero BBVA Bancomer (further as BBVA Bancomer) is the leading Mexican financial organization, having over 20% local market share and is one of the oldest companies in Mexico. It was founded in 1932 with headquarters located in Mexico city for all this time. The Spanish bank BBVA purchased Bancomer’s main stake in 2000, and currently it works as a wholly owned subdivision of Spanish BBVA Group. Here are some of the most important numbers about the company, that make it the biggest bank of the group outside Spain: annual revenue 2017 - $12.8B; number of customers - 11M, number of bank locations - 1.704; number of ATMs - 4.286.

12. Volkswagen de México ($10.8B)

Volkswagen de México, S.A. de C.V, is the subsidiary of Volkswagen Aktiengesellschaft, headquartered in the city of Puebla. It gives jobs to around 14,000 workers, thus being one of the most impactful automotive companies of the region. 80% of vehicles produced in Puebla are intended for export. Volkswagen de México’s local market share is 16.6% - the third largest after General Motors and Nissan, Europe being the biggest importer of the Volkswagen de México products. All these provided the company with a $10.8B revenue in 2017.

13. Coca-Cola FEMSA ($10.6B)

Coca-Cola FEMSA, S.A.B. de C.V., or KOF, is a multinational company and the leader of the Mexico soft drinks industry. 48% of KOF belongs to FEMSA and 28% - to The Coca-Cola Company subsidiaries, making it the world’s biggest franchise bottler of Coca-Cola. The rest is listed publicly on the two biggest stock exchanges of the region: the Mexican and the New York SEs. Though the biggest and the most cost-effective market of KOF is Mexico, the company owns bottling companies in the whole Latin America and the Philippines, thus reaching annual revenue of $10.6B.

14. Grupo BAL ($10.3B)

Grupo BAL is a huge Mexican holding of companies from various economic sectors, that gave its president the second place in the Forbes rating of Mexico’s richest men in 2013 and was the reason to an impressive $10.3B annual revenue in 2017. The holding includes such companies as: an insurance company Grupo Nacional Provincial, a retail chain Palacio de Hierro Group; a higher education institution Instituto Tecnológico Autónomo de México; metallurgical company Peñoles; a retirement fund management company Profuturo Group and one of the Mexican trade leaders - VALMEX.

15. Nissan Mexicana ($9.9B)

Nissan Mexicana, S.A. de C.V. is yet another Mexican automotive industry top dogs, focused on two main activity fields. The first one is vehicles manufacturing and distribution in North America. Another one is the engines, gearboxes and other parts production. The company is a very successful North American subsidiary of Nissan Motor Co. Ltd., fact confirmed by its annual revenue - $9.9B as of 2017. Headquartered in Mexico City, Nissan Mexicana operates production plants in Aguascalientes and Cuernavaca.

16. Grupo México ($9.6B)

Grupo México, S.A.B. de C.V., is the Mexican mining sector leader, operating in Mexico, US, Peru, Argentina, Ecuador, Chile and Spain. One of its subsidiaries, GMexico Transportes, provides rail transportation and infrastructure for its products throughout the country and abroad through Intermodal México, Texas Pacifico and FERROSUR companies. All this makes it the third largest copper producer in the world with a Market Cap of almost $17B and brings it an annual revenue of $9.6B.

17. Grupo Financiero Citibanamex ($9.3B)

One of the most impactful properties of the Grupo Financiero Banamex S.A. de C.V. is the Banco Nacional de México (Citibanamex), taking the second place in the largest Mexican banks list. This financial services provider was acquired by Citigroup for $12.5B in 2001, and this became the biggest USA-Mexico corporate integration at all times. As of 2017, this merger has proven to be quite successful, showing the annual revenue of $9.3B. Grupo Financiero Banamex offers a wide range of services to its customers in Mexico: debit and credit cards, trust services, fund transfers and business loans, as well as consumer credits and mortgages.   

18. Ford de México ($8.9B)

Ford de México is yet another automotive giant operating in Mexico, the third after FCA and Volkswagen de México. Its annual revenue for 2017 was $8.9B. Moreover, as we can see today, it’s still growing and has no intention to stop, achieving the goal to double its engine and transmission capacity by 2018. After investing an incredible sum of 1.6 billion in an assembly plant, fully counting on the local supply and logistics chain, Ford de México started constructing three brand new engines, transmissions and vehicle assembly plants in 2016 and opened them by 2018.

19. Grupo Financiero Banorte ($8.2B)

Grupo Financiero Banorte, S.A.B. de C.V., commonly called Banorte, has two headquarters - the first in Mexico City and the second - in Monterrey. Banorte is the leader among local financial organisations and the biggest administrator of the Mexican pension reserve, as well as one of its four biggest banks as per loans and assets. The two leading brands of Grupo Financiero Banorte in Mexico, Banorte and Ixe, are offering multiple financial services, from savings accounts and debit cards to various loans and mortgages, and even pension and insurance products. Here are just some numbers the company can be proud of: $8.2B annual revenue, $13.8B Market Cap, 1,269 branches, 5,200 commercial establishments and 7,297 ATM’s.

20. FEMSA Comercio (Oxxo) ($8B)

FEMSA Comercio, better known under its brand Oxxo, is the leading chain of convenience stores in Latin America with 14,000+ stores. This company with an annual revenue of $8B belongs exclusively to Fomento Económico Mexicano (FEMSA). The range of goods Oxxo offered has grown from snacks, beer and cigars in the late ‘70s to everything a big retail chain can offer nowadays. More than that, due to the liberalisation of Mexico’s oil and gas market, Oxxo has opened 49 gas stations, currently operating under the name of Pemex. The first city to have one was San Pedro Garza Garcia, further spreading throughout the country.

21. Organización Soriana ($8B)

The public company Organización Soriana (a.k.a. Soriana) is a major Mexican retailer, with 100% domestic capital and $8B annual revenue. Having its headquarter in Nuevo Leon, it has gradually conquered the whole country with its 824 grocery and department stores. One of the most significant and most impactful deals Organizacion Soriana made was a $1.35 acquisition of Supermercados Gigante in 2007, continuing to operate some of the stores under their initial brand name. Here are the brands Organizacion Soriana currently owns and runs all over Mexico: Mercado Soriana, Soriana Súper, Soriana Express, Soriana Híper and City Club.

22. Americas Mining Corporation ($7.4B)

Americas Mining Corporation (AMC) belongs to Grupo Mexico S.A.B de C.V. holding and operates as a mining company with 14 mines in the Americas. It is exploring, exploiting, purchasing and selling silver, zink, copper and molybdenum in Northern American countries (ASARCO), Chile and Peru (Southern Copper Corp). Headquartered in Tucson, Arizona, AMC registered an annual revenue of $7.4B in 2017. As the Q3 reports for 2018 showed, this revenue is not the maximum AMC can achieve, e.g. AMC reported net sales of $1.92B for the third quarter compared to $1.9B a year ago.

23. Grupo Techint en México ($7.4B)

Grupo Techint en México or Techint Ingeniería y Construcción holding has come a long way from the Tamsa steelworks development in 1954 to expansion into other sectors . Now the company’s fields of activity include also chemical, petrochemical, power plants, and oil and gas pipelines construction, as well as laying and construction of power lines. Currently, Techint E&C is one of the most impactful companies in Mexico, offering  workplaces to 3,800 employees and executing around 80 projects in North America, with a particular focus on energy and oil &gas sectors.

24. Kaluz ($7.3B)

Kaluz holding is one of the most successful family businesses in Mexico. It is the 29th of the 500 Most Important Companies in Mexico. Created and managed by family members, it keeps the following institutional structure: a petrochemical company Mexichem; a construction company Elementia and an organisation operating in the banking sector - BX+. These structures belong to 3 brothers and together bring an annual revenue of around $7.3B.

25. Arca Continental ($7.2B)

Arca Continental S.A.B. de C.V. / Arca Continental / Arca Contal is a Mexican company operating in the soft drinks sector as a beverage manufacturer and distributor. This is yet another Coca-Cola brands distributor for Latin America (Mexico, Argentina, Peru, Ecuador) and the Southwestern United States. The key financial data on Arca Continental are as follows: almost $10B Market Cap and $7.2B annual revenue (as for 2017).


The Global Database Mexico B2B data is the perfect source of fresh qualified leads, updated daily. Any changes with companies or industries you’re interested in will be reflected in instant email notifications, so you can be sure you’re always keeping abreast of the latest market tendencies and the most precise information. Your sales funnel will never experience leads shortage as well as your new market entering campaign has all the chances to be successful with the Global Database for Mexico.

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