Is FMX halal?
Fomento Economico Mexicano S.A.
Not halal
Fomento Economico Mexicano S.A. did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NYSE
Price
126.46
Day
+4.52%
Market cap
$41.44B
Industry
Beverages - Brewers
Sector
Consumer Defensive
What the company does
FEMSA (Mexico) owns the OXXO convenience-store chain (over 25,000 stores), a controlling stake in Coca-Cola FEMSA (the largest Coke bottler) and fuel stations. Revenue comes from retail and beverages; trades as an ADR.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Beverages - Brewers
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $13.81B ÷ 36-month average market cap (estimated) $36.93B = 37.4%
37.4%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $6.46B ÷ 36-month average market cap (estimated) $36.93B = 17.5%
17.5%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $418.35M ÷ annual revenue $45.92B (2025) = 0.9%
0.9%
Pass
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $41.44B.
For information (AAOIFI 3/1 note): cash + receivables are 20.2% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 2 superinvestors · Average reported price: $127.90
- First Eagle Investment Management$3.3B2.8%
- Bill NygrenOakmark Funds$197.2M0.3%
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.