Betterware de México, S.A.P.I. de C.V. — Cyborg Score 7/10
Strong
Consumer Goods and Retail
Strategic Profile
Betterware's robust direct-selling model is enhanced by 65% digital order penetration and strategic acquisitions like Tupperware's Latin American business. The company is closing the Tupperware Latin America acquisition in Q2 2026, a deal management projects will deliver roughly 40% EPS accretion in 2026 and open the Brazilian market.
Cyborg Score Rationale
Q1 2026 showed EPS up 85% to Mex$7.54, net income up 86% to Mex$281.3m, and profit margin expanded to 8.0%. FY25 free cash flow surged 38.8% to 2.22B pesos with EBITDA cash conversion at 83%. However, emerging market volatility and high leverage present execution risks.
Top Insights
Q1 2026 revenue growth was modest at 0.3% year-over-year while EBITDA rose 13.9%, demonstrating margin expansion despite flat sales
CEO Andrés Campos Chevallier purchased 10,000 shares at $16.81 in late April, signaling insider confidence
Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry
The dividend has increased by an average of 15% per year over the past 6 years
Named Competitors
Tupperware — Direct-to-consumer home organization and kitchenware
Herbalife — Direct-selling nutrition and wellness products
Mary Kay — Direct-to-consumer beauty and personal care
Recent Developments
(April 2026) Q1 2026 earnings showed net income up 87% to Mex$281.3m with 8.0% profit margin; CEO Raúl del Villar appointed as CFO effective April 6, 2026
(April 2026) Q1 2026 revenue of Mex$3.51B (flat year-over-year) but EBITDA grew 13.9%; free cash flow surged to Mex$351.5M from negative figure in Q1 2025
(May 2026) Dividend of US$0.28 per share approved with ex-date May 12, 2026 and payment date May 21, 2026; analyst consensus price target increased to $27.11
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