Tearsheet

Betterware de Mexico SAPI de CV (BWMX)

Market Price (11/18/2025): $13.85 | Market Cap: $516.8 Mil
Sector: Consumer Discretionary | Industry: Other Specialty Retail

Betterware de Mexico SAPI de CV (BWMX)

Market Price (11/18/2025): $13.85
Market Cap: $516.8 Mil
Sector: Consumer Discretionary
Industry: Other Specialty Retail

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 196%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 192%, FCF Yield is 305%	Weak multi-year price returns 2Y Excs Rtn is -21%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 941%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Low stock price volatility Vol 12M is 46%
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include Direct-to-Consumer Brands, Last-Mile Delivery, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 196%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 192%, FCF Yield is 305%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Low stock price volatility Vol 12M is 46%
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and E-commerce & DTC Adoption. Themes include Direct-to-Consumer Brands, Last-Mile Delivery, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -21%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 941%

Market Valuation & Key Metrics

	11/18/25	2024	2023	2022	2021
Share Price CYE	$13.85	$10.14	$11.49	$4.92	$14.53
Market Cap CYE ($ Mil)	516.8	375.0	428.9	183.7	542.1
Total Debt ($ Mil)	5,216.1	5,169.5	5,520.1	6,440.6	1,528.3
Total Cash ($ Mil)	333.5	296.6	549.7	815.6	1,175.2
Enterprise Value ($ Mil)	5,399.4	5,544.5	5,949.0	6,624.3	2,070.4
Valuation Ratios
P/S TTM	0.0	0.0	0.0	0.0	0.1
P/EBIT TTM	0.2	0.2	0.2	0.1	0.3
P/E TTM	0.5	0.6	0.5	0.3	0.4
Sector Ratios
P/S TTM (Sector)	0.7	0.8	0.9	0.8	1.3
P/EBIT TTM (Sector)	6.7	6.8	7.0	5.6	7.5
P/E TTM (Sector)	8.8	8.1	8.8	7.5	9.3

	11/18/25	2024	2023
Share Price CYE	$13.85	$10.14	$11.49
Market Cap CYE ($ Mil)	516.8	375.0	428.9
Total Debt ($ Mil)	5,216.1	5,169.5	5,520.1
Total Cash ($ Mil)	333.5	296.6	549.7
Enterprise Value ($ Mil)	5,399.4	5,544.5	5,949.0
Valuation Ratios
P/S TTM	0.0	0.0	0.0
P/EBIT TTM	0.2	0.2	0.2
P/E TTM	0.5	0.6	0.5
Sector Ratios
P/S TTM (Sector)	0.7	0.8	0.9
P/EBIT TTM (Sector)	6.7	6.8	7.0
P/E TTM (Sector)	8.8	8.1	8.8

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AI Generated Analysis | Feedback

Metric	Value	Date	Source
Combined Network of Distributors and Associates	63,300 distributors and 1.18 million associates	11062025	Link
Market Share in Mexico's Direct Selling Industry	12.6%	12312023	Link
Number of Associates in Ecuador	5,900	9302025	Link
Jafra Mexico Consultant Base Growth (Quarter-over-Quarter)	2%	9302025	Link
Jafra Mexico Average Order Increase (Quarter-over-Quarter)	approximately 10%	9302025	Link
Household Penetration in Mexico	20%	5112022	Link
Share of Wallet in Mexico	20%	5112022	Link
Annual New Product Launches	more than 300	5112022	Link
Number of Catalogs per Year	9	5112022	Link

BWMX Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Between July 31, 2025, and November 18, 2025, Betterware de Mexico SAPI de CV (BWMX) saw its stock move by 10.3% due to several key factors.

1. Strong Q2 2025 Earnings and Market Reaction: The company reported robust second-quarter results in late July 2025, with earnings per share significantly surpassing analyst forecasts and consolidated revenue showing year-over-year growth. This performance led to an immediate positive market reaction, including an 8.84% increase in the stock price following the earnings announcement on August 21, 2025.

2. Improved Q3 2025 Profitability and Margin Expansion: Despite challenging consumer demand in some segments, Betterware de Mexico's third-quarter 2025 results, reported in late October, demonstrated significant growth in profitability metrics. The company achieved a 22% increase in EBITDA and a 71% rise in net income year-over-year, alongside expanded gross and EBITDA margins, particularly driven by strong performance in the Jafra Mexico segment.

3. Consistent Positive Analyst Sentiment: Throughout the period, analysts maintained a "Buy" or "Strong Buy" consensus rating for BWMX, with a consistent average price target. This reiterated confidence from financial analysts signaled a stable and positive outlook for the company's performance, contributing to investor optimism.

4. Regular Dividend Payouts: Betterware de Mexico continued its policy of returning value to shareholders through consistent dividend payments. A dividend payment of MXN 200 million was approved on July 31, 2025, and another quarterly dividend of US$0.26 per share was announced on October 24, 2025, reinforcing financial discipline and shareholder confidence.

5. Strategic International Expansion Initiatives: The company highlighted successful international expansion, particularly with strong growth in Betterware Ecuador and Jafra US, and announced plans to launch Betterware in Colombia in early 2026. These strategic moves to expand its Latin American market presence were viewed as crucial for future revenue growth and market diversification.

Show less

Stock Movement Drivers

Fundamental Drivers

The 6.7% change in BWMX stock from 8/18/2025 to 11/17/2025 was primarily driven by a 71.6% change in the company's Net Income Margin (%).

	8182025	11172025	Change
Stock Price ($)	13.03	13.91	6.73%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14170.66	14217.56	0.33%
Net Income Margin (%)	4.17%	7.16%	71.59%
P/E Multiple	0.82	0.51	-38.00%
Shares Outstanding (Mil)	37.32	37.32	0.00%
Cumulative Contribution			6.73%

LTM = Last Twelve Months as of date shown

Market Drivers

8/18/2025 to 11/17/2025

	Return	Correlation
BWMX	6.7%
Market (SPY)	3.5%	21.3%
Sector (XLY)	-0.5%	21.6%

Fundamental Drivers

The 50.5% change in BWMX stock from 5/19/2025 to 11/17/2025 was primarily driven by a 41.9% change in the company's Net Income Margin (%).

	5192025	11172025	Change
Stock Price ($)	9.24	13.91	50.46%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	14100.76	14217.56	0.83%
Net Income Margin (%)	5.05%	7.16%	41.89%
P/E Multiple	0.48	0.51	6.12%
Shares Outstanding (Mil)	36.98	37.32	-0.90%
Cumulative Contribution			50.45%

LTM = Last Twelve Months as of date shown

Market Drivers

5/19/2025 to 11/17/2025

	Return	Correlation
BWMX	50.5%
Market (SPY)	12.2%	15.5%
Sector (XLY)	5.5%	8.4%

Fundamental Drivers

The 27.1% change in BWMX stock from 11/17/2024 to 11/17/2025 was primarily driven by a 11.4% change in the company's Net Income Margin (%).

	11172024	11172025	Change
Stock Price ($)	10.95	13.91	27.07%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	13723.98	14217.56	3.60%
Net Income Margin (%)	6.43%	7.16%	11.39%
P/E Multiple	0.46	0.51	10.24%
Shares Outstanding (Mil)	37.27	37.32	-0.12%
Cumulative Contribution			27.07%

LTM = Last Twelve Months as of date shown

Market Drivers

11/17/2024 to 11/17/2025

	Return	Correlation
BWMX	27.1%
Market (SPY)	14.7%	23.5%
Sector (XLY)	7.9%	19.5%

Fundamental Drivers

The 161.6% change in BWMX stock from 11/18/2022 to 11/17/2025 was primarily driven by a 92.1% change in the company's P/E Multiple.

	11182022	11172025	Change
Stock Price ($)	5.32	13.91	161.60%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	10494.10	14217.56	35.48%
Net Income Margin (%)	7.12%	7.16%	0.54%
P/E Multiple	0.27	0.51	92.06%
Shares Outstanding (Mil)	37.32	37.32	0.00%
Cumulative Contribution			161.60%

LTM = Last Twelve Months as of date shown

Market Drivers

11/18/2023 to 11/17/2025

	Return	Correlation
BWMX	24.9%
Market (SPY)	51.1%	20.2%
Sector (XLY)	38.9%	14.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
BWMX Return	-	-35%	-66%	133%	-12%	37%	-38%
Peers Return					80%	-49%	-9%
S&P 500 Return	16%	27%	-19%	24%	23%	13%	107%
Monthly Win Rates [3]
BWMX Win Rate	78%	42%	17%	67%	58%	80%
Peers Win Rate				10%	58%	36%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
BWMX Max Drawdown	-	-41%	-67%	-2%	-20%	-28%
Peers Max Drawdown					-24%	-66%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ABLV, CGTL, FTEL, JBDI, PTLE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	BWMX	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-87.4%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	692.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-31.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	46.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	11 days	148 days

Compare to ABLV, CGTL, FTEL, JBDI, PTLE

In The Past

Betterware de Mexico SAPI de CV's stock fell -87.4% during the 2022 Inflation Shock from a high on 6/30/2021. A -87.4% loss requires a 692.7% gain to breakeven.

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About Betterware de Mexico SAPI de CV (BWMX)

Betterware de Mexico, S.A.B. de C.V. operates as a direct-to-consumer company in Mexico. The company focuses on the home organization segment with a product portfolio, including home solutions, kitchen and food preservation, technology and mobility, and other categories. It serves approximately 3 million households through distributors and associates in approximately 800 communities throughout Mexico. The company was formerly known as Betterware de México, S.A.P.I. de C.V. Betterware de Mexico, S.A.B. de C.V. was founded in 1995 and is based in Zapopan, Mexico. Betterware de Mexico, S.A.B. de C.V. is a subsidiary of Campalier, S.A. de C.V.

AI Generated Analysis | Feedback

Like Tupperware, but for a wider range of affordable home organization and convenience products, sold through direct sales.
A blend of Tupperware and Avon for home and beauty products, distributed through a direct selling network.

AI Generated Analysis | Feedback

Home Organization & Solutions: Offers a wide range of products designed to improve organization, cleanliness, and functionality throughout the home.
Kitchenware & Utensils: Provides various innovative products for cooking, food preparation, and storage in the kitchen.
Beauty & Personal Care: Sells an extensive line of cosmetics, fragrances, skincare, and other personal hygiene products.

AI Generated Analysis | Feedback

Betterware de Mexico SAPI de CV (BWMX) operates primarily through a direct-to-consumer sales model, utilizing a network of independent distributors and associates. Therefore, it sells primarily to individuals rather than other companies.

The major categories of customers that BWMX serves are:

Independent Distributors/Associates: These individuals are the direct customers of Betterware. They purchase products directly from the company (often at wholesale or discounted prices) with the intention of reselling them to their own network of end-consumers. They are motivated by entrepreneurial opportunities, commission structures, and access to Betterware's product portfolio to build their own businesses.
Households and Families (End-Consumers): These are the ultimate users of Betterware's products. They purchase items for their homes, including kitchenware, bath products, home organization solutions, and other household goods, from the independent distributors/associates. They are seeking practical, affordable, and innovative solutions to improve their living spaces.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

Andres Campos President and CEO of BeFra Group

Andres Campos was appointed President and CEO of BeFra Group, which encompasses both Betterware and Jafra brands, on January 4, 2024. He previously served as CEO of Betterware since 2018. Prior to that, he held roles as Commercial Director (2014–2018) and Strategy and New Businesses Director (2012–2014) at Betterware. Before joining Betterware, Mr. Campos worked in Banamex Corporate Banking (2012–2014) and as an Auditor at KPMG (2004–2005).

Rodrigo Muñoz Chief Financial Officer

Rodrigo Muñoz was appointed Chief Financial Officer of Betterware de Mexico, S.A.P.I. de C.V. (BeFra) on March 3, 2025. He brings over two decades of experience in finance across various industries, including retail, services, telecommunications, and banking. Mr. Muñoz previously served as CFO of Grupo Devlyn, a leading eyewear retailer in Mexico, for four years. His notable past roles include Regional CFO (Mexico) and FP&A Director of Alsea, a prominent operator of Quick Service Restaurants, coffee shops, and casual dining restaurants in Latin America and Europe. He also held CFO positions at "Grupo Diniz, Creel, García-Cuellar, Aiza & Enriquez" and various subsidiaries within Grupo Televisa.

Luis Campos Chairman of the Board

Luis Campos has served as Chairman of the Board of Betterware de Mexico since he acquired the company in 2001, and has over 30 years of experience in the direct-to-consumer business. Before his tenure at Betterware, Mr. Campos held several prominent leadership positions, including Chairman of Tupperware Americas (1994–1999), Chairman of Sara Lee — House of Fuller Mexico (1991–1993), and Chairman of Hasbro Mexico (1984–1990).

Santiago Campos Managing Director of Betterware Mexico

Santiago Campos assumed the role of Managing Director of Betterware Mexico on January 4, 2024. He joined Betterware in 2018 as Director of Innovation and Communication and later served as Chief Marketing Officer (2019-2022) and Chief Transformation Officer (2023-present). Prior to joining Betterware, he was Commercial Director at a local Real Estate Development company.

Jose Carlos Rosales Gomez Corporate Chief Operation and Logistics

Jose Carlos Rosales Gomez holds the position of Corporate Chief Operation and Logistics at Betterware de Mexico.

AI Generated Analysis | Feedback

The accelerating shift in consumer purchasing behavior towards pure e-commerce platforms, direct-to-consumer (D2C) brands, and social commerce, which directly challenges the traditional direct sales model by offering greater convenience, wider selection, and often more competitive pricing, thereby potentially eroding the relevance and reach of Betterware's network of independent distributors and associates.

AI Generated Analysis | Feedback

Betterware de Mexico SAPI de CV (BWMX) operates primarily in Mexico, with an expanding presence in the United States, through two main business segments: home organization products (under the Betterware brand) and beauty and personal care products (under the JAFRA brand). The company utilizes a direct-to-consumer selling model.

The addressable markets for Betterware de Mexico's main products and services in Mexico are as follows:

Direct Selling Market (Mexico)

The direct selling market in Mexico is a significant channel for Betterware de Mexico. This market is projected to reach $19.48 billion by 2028. In 2022, cosmetics & personal care accounted for 60% of total multi-level marketing (MLM) sales, wellness for 35%, and household goods & durables for 17% in Mexico's direct selling sector.

Home Organization Products (Mexico)

This segment encompasses various household items, including home solutions, kitchen and food preservation, bedroom, bathroom, laundry and cleaning, and technology and mobility products.

The Mexico Homeware Market, a broader category that includes many home organization products, stood at an estimated USD 3.63 Billion in 2024 and is anticipated to grow to USD 6.03 Billion by 2033.
More specifically, the Mexico home storage market size was valued at USD 194.40 Million in 2024 and is expected to reach USD 431.50 Million by 2033, exhibiting a compound annual growth rate (CAGR) of 8.30% from 2025-2033.
The Mexico kitchenware market size was valued at USD 2,891.15 Million in 2024 and is expected to reach USD 4,938.71 Million by 2033, with a CAGR of 6.13% during 2025-2033. Another estimate places the Mexico Kitchenware Market size at USD 2.17 Billion in 2024, projected to reach USD 3.06 Billion by 2033.
The Mexico cookware market generated a revenue of USD 673.8 million in 2023 and is expected to reach USD 1,042.2 million by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The Mexico household cleaners market size reached USD 580.50 Million in 2024 and is expected to reach USD 807.83 Million by 2033, exhibiting a CAGR of 3.74% from 2025-2033. The broader Mexican Household Products market had total revenues of $8,332.5 million in 2022 and is expected to reach $9,881.7 million by the end of 2027.

Beauty and Personal Care Products (Mexico)

This segment for Betterware de Mexico (through its JAFRA brand) includes fragrances, color cosmetics, skin care, and toiletries.

The Mexico beauty and personal care market size was valued at USD 10.6 Billion in 2024 and is estimated to reach USD 17.6 Billion by 2033, with a CAGR of 5.42% from 2025-2033.
Other estimates for the Mexico beauty and personal care market size include USD 12.03 billion in 2025, expected to reach USD 16.13 billion by 2030, at a CAGR of 6.05% during the forecast period. Another source states the market was valued at USD 10,758.07 million in 2024 and is anticipated to reach USD 18,412.18 million by 2032, at a CAGR of 6.47%.
The Mexican beauty and personal care market was also estimated at approximately $15 billion USD in 2023 and valued at $11.34 billion in 2025, with a projected CAGR of 6.05% from 2025 to 2033.

AI Generated Analysis | Feedback

Here are the expected drivers of future revenue growth for Betterware de Mexico SAPI de CV (BWMX) over the next 2-3 years:

International Expansion: Betterware de Mexico is focused on accelerating its regional expansion beyond its core Mexican market. The company has seen positive results from its ventures in Ecuador, surpassing expectations with 20% month-over-month revenue growth, and Guatemala, achieving a 32% year-over-year sales increase. Plans are also underway to launch Betterware in Colombia in early 2026 to further expand its Latin American presence.
Product Innovation and Diversification: Ongoing product innovation and portfolio diversification are expected to drive higher average order values and recurring sales. Analysts highlight new launches and a focus on premium, sustainable categories as crucial for improving margins and increasing market share. The strong performance of Jafra Mexico, which demonstrated an 8% increase in revenue and 31% growth in EBITDA, is also a key component of this strategy.
Digital Transformation and Enhanced Salesforce Productivity: The company is leveraging digital tools and implementing incentive programs to boost salesforce productivity and improve customer engagement. This digital transformation is seen as a key factor in unlocking salesforce momentum and long-term growth for the direct-selling model.
Strengthening the Mexican Core Market: Despite facing challenges with declining sales in Mexico in some periods, Betterware de Mexico is focused on strengthening its home market. This includes implementing aggressive pricing strategies and product investments to regain sequential growth and enhance its market position. The company aims to leverage its existing market share in home solutions and beauty products in Mexico.

AI Generated Analysis | Feedback

Share Repurchases

Betterware de Mexico authorized a share repurchase program of up to $50 million of its common stock on September 13, 2021.
This share repurchase program was intended to be in place until December 31, 2022.
The net common equity issued/repurchased for 2022 showed -$1 million, indicating share repurchases.

Share Issuance

In 2020, the net common equity issued/repurchased was $12 million.
An SEC filing from 2020 referred to the offering of 7,226,025 ordinary shares.
The number of outstanding ordinary shares remained consistent at 37,316,546 as of December 31, 2021, and December 31, 2022.

Outbound Investments

Betterware acquired JAFRA's operations in Mexico and the United States on January 18, 2022, for a total cash consideration of US$255 million (approximately Ps. 5,355 million), funded primarily with debt.
The company is pursuing regional expansion, with plans to launch Betterware in Colombia in early 2026.
Betterware has also focused on international expansion, with operations in Ecuador and Guatemala showing strong growth.

Capital Expenditures

Consolidated capital expenditures (CAPEX) decreased significantly by 87.0% to Ps. 13.7 million in the first half of 2023.
CAPEX is expected to represent approximately 1% of net revenue going forward.
In 2021, Betterware anticipated CAPEX of Ps. 460 million, with about 81% allocated to its new campus and technology investments.

Better Bets than Betterware de Mexico SAPI de CV (BWMX)

	BWMX	Better Performance than BWMX
Metric	Value	Industry (Other Specialty Retail)
Rev Chg LTM	3.6%	TSCO (4.3%), CHWY (9.2%), ARHS (7.4%), SVV (6.4%), BBW (8.1%)
Rev Chg 3Y Avg	10.9%	EVGO (136.3%), CHPT (12.1%)
Op Mgn LTM	12.5%	ULTA (13.7%), BBWI (17.1%), WINA (64.3%), BBW (14.3%)
CFO/Rev LTM	11.7%	TSCO (11.9%), BBWI (13.6%), WINA (53.0%), ARHS (11.7%), OLPX (18.1%)
FCF/Rev LTM	11.1%	WINA (52.8%), OLPX (17.3%)
Total Yield	196.2%

	BWMX	Better Performance than BWMX
Metric	Value	Sector (Consumer Discretionary)
Rev Chg LTM	3.6%	AMZN (10.9%), BABA (5.3%), HD (8.5%), TM (6.4%), TJX (4.1%)
Rev Chg 3Y Avg	10.9%	AMZN (11.3%), TM (13.9%), BKNG (17.8%), MELI (39.5%), DASH (27.8%)
Op Mgn LTM	12.5%	BABA (14.6%), HD (13.1%), MCD (46.1%), BKNG (34.5%), ORLY (19.3%)
CFO/Rev LTM	11.7%	AMZN (18.1%), TSLA (16.5%), BABA (15.0%), MCD (39.9%), BKNG (33.2%)
FCF/Rev LTM	11.1%	BABA (15.0%), MCD (28.1%), BKNG (31.9%), MELI (32.9%), DASH (15.8%)
Total Yield	196.2%	TM (2240.0%), HMC (2501.3%), SSM (722.9%), MI (207.1%), KXIN (737778.6%)

	BWMX	Better Performance than BWMX
Metric	Value	All Other Sectors
Rev Chg LTM	3.6%	NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AVGO (28.0%)
Rev Chg 3Y Avg	10.9%	NVDA (92.0%), MSFT (13.2%), GOOGL (11.0%), AVGO (24.0%), META (17.3%)
Op Mgn LTM	12.5%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AVGO (39.0%)
CFO/Rev LTM	11.7%	NVDA (46.6%), AAPL (26.6%), MSFT (50.0%), GOOGL (39.3%), AVGO (42.4%)
FCF/Rev LTM	11.1%	NVDA (43.6%), AAPL (23.5%), MSFT (26.6%), GOOGL (19.1%), AVGO (41.6%)
Total Yield	196.2%	RNW (316.0%), MAGN (336.2%), JCAP (346.8%), SLB (9893.3%), NXTT (937.4%)

		Best Bets In Consumer Discretionary Sector
	BWMX	ABNB	BKNG	DUOL	MCD	ETSY	LOPE	ALSN	CROX	GRMN	WH
What You Pay
P/E	0.5	27.3	30.8	21.2	25.8	29.8	21.4	9.5	18.2	23.3	15.8
P/EBIT	0.2	26.6	18.5	77.3	17.8	13.1	14.2	7.0	15.9	20.5	9.3
What You Get
Rev Chg Q	1.4%	9.7%	12.7%	41.1%	3.0%	2.4%	9.6%	-15.9%	3.4%	11.7%	-3.5%
Rev Chg LTM	3.6%	10.2%	13.0%	39.9%	1.2%	2.0%	7.0%	-4.2%	2.0%	16.6%	3.4%
Rev Chg 3Y Avg	10.9%	14.2%	17.8%	41.7%	4.2%	4.9%	6.5%	4.6%	14.5%	12.2%	-2.5%
FCF/Rev 3Y Avg	16.1%	40.2%	35.6%	30.3%	27.4%	23.8%	21.8%	21.0%	19.8%	20.5%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Trade Ideas

Select past ideas related to BWMX. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy	10312025	LRN	Stride	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-5.8%	-5.8%	-5.8%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312025	DECK	Deckers Outdoor	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.6%	1.6%	-2.4%
ATGE_10312025_Quality_Momentum_RoomToRun_10%	10312025	ATGE	Adtalem Global Education	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-1.6%	-1.6%	-5.9%
GNTX_10242025_Dip_Buyer_FCFYield	10242025	GNTX	Gentex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-3.2%	-3.2%	-3.2%
LNW_10172025_Dip_Buyer_FCFYield	10172025	LNW	Light & Wonder	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.4%	12.4%	-6.2%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
LRN_10312025_Dip_Buyer_ValueBuy	10312025	LRN	Stride	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-5.8%	-5.8%	-5.8%
DECK_10312025_Dip_Buyer_High_CFO_Margins_ExInd_DE	10312025	DECK	Deckers Outdoor	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.6%	1.6%	-2.4%
ATGE_10312025_Quality_Momentum_RoomToRun_10%	10312025	ATGE	Adtalem Global Education	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	-1.6%	-1.6%	-5.9%
GNTX_10242025_Dip_Buyer_FCFYield	10242025	GNTX	Gentex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-3.2%	-3.2%	-3.2%
LNW_10172025_Dip_Buyer_FCFYield	10172025	LNW	Light & Wonder	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	12.4%	12.4%	-6.2%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
SGML	Sigma Lithium	0.9	32.3%	-28.5%
ZYME	Zymeworks	1.8	29.0%	63.3%
VSTM	Verastem	0.6	21.1%	77.0%
JAZZ	Jazz Pharmaceuticals	10.4	20.6%	38.1%
EYPT	EyePoint Pharmaceuticals	0.9	13.4%	76.3%
PRME	Prime Medicine	0.5	13.4%	30.8%
TERN	Terns Pharmaceuticals	2.3	13.3%	361.4%
TMQ	Trilogy Metals	0.7	13.1%	243.1%
NUVL	Nuvalent	7.8	11.9%	38.0%
FULC	Fulcrum Therapeutics	0.6	11.6%	105.3%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.2	-23.8%	-19.7%
VENU	Venu	0.3	-21.4%	-5.1%
ROCK	Gibraltar Industries	1.4	-20.3%	-20.0%
LB	LandBridge	1.5	-17.0%	-3.8%
ECX	ECARX	0.6	-16.0%	-15.2%
CSIQ	Canadian Solar	1.9	-15.2%	156.0%
FLY	Firefly Aerospace	2.7	-15.1%
DEFT	DeFi Technologies	0.3	-14.6%
UP	Wheels Up Experience	0.7	-13.9%	-43.6%
STUB	Stubhub	4.2	-13.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LXP	LXP Industrial Trust	13.4	383.2%	18.4%
CDTX	Cidara Therapeutics	3.4	110.0%	710.7%
MH	McGraw Hill	2.9	38.2%
KALV	KalVista Pharmaceuticals	0.8	36.5%	75.4%
TERN	Terns Pharmaceuticals	2.3	33.7%	361.4%
SGML	Sigma Lithium	0.9	33.2%	-28.5%
ZYME	Zymeworks	1.8	32.4%	63.3%
JAZZ	Jazz Pharmaceuticals	10.4	27.7%	38.1%
REAL	RealReal	1.6	26.5%	29.7%
FULC	Fulcrum Therapeutics	0.6	25.8%	105.3%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AVXL	Anavex Life Sciences	0.3	-44.8%	-66.7%
DEFT	DeFi Technologies	0.3	-40.3%
BTDR	Bitdeer Technologies	2.1	-39.8%	-50.9%
ARDT	Ardent Health	1.2	-39.4%	-51.5%
WYFI	Whitefiber	0.7	-37.2%
NKLR	Terra Innovatum Global	0.3	-35.0%
AIRS	AirSculpt Technologies	0.2	-34.2%	-19.7%
CTEV	Claritev	0.6	-34.1%
PSFE	Paysafe	0.4	-33.7%	-60.5%
STUB	Stubhub	4.2	-33.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TERN	Terns Pharmaceuticals	2.3	203.9%	361.4%
VTYX	Ventyx Biosciences	0.7	142.3%	333.8%
CDTX	Cidara Therapeutics	3.4	114.6%	710.7%
INBX	Inhibrx Biosciences	1.2	107.7%	402.3%
COGT	Cogent Biosciences	3.9	105.9%	332.7%
CSIQ	Canadian Solar	1.9	95.1%	156.0%
REPL	Replimune	0.8	94.9%	-27.6%
MBX	MBX Biosciences	0.9	93.7%	39.0%
SNDK	SanDisk	38.6	89.7%
CELC	Celcuity	4.0	77.5%	604.6%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NKLR	Terra Innovatum Global	0.3	-69.1%
NTLA	Intellia Therapeutics	0.9	-65.7%	-27.3%
SOC	Sable Offshore	0.4	-63.0%	-80.9%
ASPN	Aspen Aerogels	0.3	-61.5%	-74.2%
AVXL	Anavex Life Sciences	0.3	-60.1%	-66.7%
CCOI	Cogent Communications	0.9	-57.4%	-74.4%
LRN	Stride	2.7	-56.7%	-39.6%
FMC	FMC	1.6	-56.0%	-72.1%
BTDR	Bitdeer Technologies	2.1	-55.7%	-50.9%
METC	Ramaco Resources	1.1	-54.7%	105.2%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
SGML	Sigma Lithium	0.9	32.3%	-28.5%
ZYME	Zymeworks	1.8	29.0%	63.3%
VSTM	Verastem	0.6	21.1%	77.0%
JAZZ	Jazz Pharmaceuticals	10.4	20.6%	38.1%
EYPT	EyePoint Pharmaceuticals	0.9	13.4%	76.3%
PRME	Prime Medicine	0.5	13.4%	30.8%
TERN	Terns Pharmaceuticals	2.3	13.3%	361.4%
TMQ	Trilogy Metals	0.7	13.1%	243.1%
NUVL	Nuvalent	7.8	11.9%	38.0%
FULC	Fulcrum Therapeutics	0.6	11.6%	105.3%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AIRS	AirSculpt Technologies	0.2	-23.8%	-19.7%
VENU	Venu	0.3	-21.4%	-5.1%
ROCK	Gibraltar Industries	1.4	-20.3%	-20.0%
LB	LandBridge	1.5	-17.0%	-3.8%
ECX	ECARX	0.6	-16.0%	-15.2%
CSIQ	Canadian Solar	1.9	-15.2%	156.0%
FLY	Firefly Aerospace	2.7	-15.1%
DEFT	DeFi Technologies	0.3	-14.6%
UP	Wheels Up Experience	0.7	-13.9%	-43.6%
STUB	Stubhub	4.2	-13.8%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LXP	LXP Industrial Trust	13.4	383.2%	18.4%
CDTX	Cidara Therapeutics	3.4	110.0%	710.7%
MH	McGraw Hill	2.9	38.2%
KALV	KalVista Pharmaceuticals	0.8	36.5%	75.4%
TERN	Terns Pharmaceuticals	2.3	33.7%	361.4%
SGML	Sigma Lithium	0.9	33.2%	-28.5%
ZYME	Zymeworks	1.8	32.4%	63.3%
JAZZ	Jazz Pharmaceuticals	10.4	27.7%	38.1%
REAL	RealReal	1.6	26.5%	29.7%
FULC	Fulcrum Therapeutics	0.6	25.8%	105.3%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AVXL	Anavex Life Sciences	0.3	-44.8%	-66.7%
DEFT	DeFi Technologies	0.3	-40.3%
BTDR	Bitdeer Technologies	2.1	-39.8%	-50.9%
ARDT	Ardent Health	1.2	-39.4%	-51.5%
WYFI	Whitefiber	0.7	-37.2%
NKLR	Terra Innovatum Global	0.3	-35.0%
AIRS	AirSculpt Technologies	0.2	-34.2%	-19.7%
CTEV	Claritev	0.6	-34.1%
PSFE	Paysafe	0.4	-33.7%	-60.5%
STUB	Stubhub	4.2	-33.1%

Peer Comparisons for Betterware de Mexico SAPI de CV

Financials

	BWMX	ABLV	CGTL	FTEL	JBDI	PTLE	Median
Name	Betterwa.	Able Vie.	Creative.	Fitell	JBDI	PTL
Mkt Price	13.91	0.65	0.81	0.80	1.00	0.20	0.81
Mkt Cap	0.5	-	-	-	-	-	0.5
Rev LTM	14,218	-	-	-	-	-	14,218
Op Inc LTM	1,779	-	-	-	-	-	1,779
FCF LTM	1,581	-	-	-	-	-	1,581
FCF 3Y Avg	2,159	-	-	-	-	-	2,159
CFO LTM	1,659	-	-	-	-	-	1,659
CFO 3Y Avg	2,306	-	-	-	-	-	2,306

Growth & Margins

	BWMX	ABLV	CGTL	FTEL	JBDI	PTLE	Median
Name	Betterwa.	Able Vie.	Creative.	Fitell	JBDI	PTL
Rev Chg LTM	3.6%	-	-	-	-	-	3.6%
Rev Chg 3Y Avg	10.9%	-	-	-	-	-	10.9%
Rev Chg Q	1.4%	-	-	-	-	-	1.4%
QoQ Delta Rev Chg LTM	0.3%	-	-	-	-	-	0.3%
Op Mgn LTM	12.5%	-	-	-	-	-	12.5%
Op Mgn 3Y Avg	15.5%	-	-	-	-	-	15.5%
QoQ Delta Op Mgn LTM	0.9%	-	-	-	-	-	0.9%
CFO/Rev LTM	11.7%	-	-	-	-	-	11.7%
CFO/Rev 3Y Avg	17.2%	-	-	-	-	-	17.2%
FCF/Rev LTM	11.1%	-	-	-	-	-	11.1%
FCF/Rev 3Y Avg	16.1%	-	-	-	-	-	16.1%

Valuation

	BWMX	ABLV	CGTL	FTEL	JBDI	PTLE	Median
Name	Betterwa.	Able Vie.	Creative.	Fitell	JBDI	PTL
Mkt Cap	0.5	-	-	-	-	-	0.5
P/S	0.0	-	-	-	-	-	0.0
P/EBIT	0.2	-	-	-	-	-	0.2
P/E	0.5	-	-	-	-	-	0.5
P/CFO	0.3	-	-	-	-	-	0.3
Total Yield	196.2%	-	-	-	-	-	196.2%
Dividend Yield	0.0%	-	-	-	-	-	0.0%
FCF Yield 3Y Avg	401.1%	-	-	-	-	-	401.1%
D/E	10.0	-	-	-	-	-	10.0
Net D/E	9.4	-	-	-	-	-	9.4

Returns

	BWMX	ABLV	CGTL	FTEL	JBDI	PTLE	Median
Name	Betterwa.	Able Vie.	Creative.	Fitell	JBDI	PTL
1M Rtn	8.8%	-38.1%	81.1%	-81.2%	-42.9%	26.1%	-14.7%
3M Rtn	6.7%	-28.7%	14.1%	-90.7%	0.0%	9.2%	3.4%
6M Rtn	50.5%	-40.4%	-13.3%	-90.6%	-12.3%	-85.8%	-26.9%
12M Rtn	27.1%	-26.6%	-	-99.9%	45.4%	-93.8%	-26.6%
3Y Rtn	161.6%	-	-	-	-	-	161.6%
1M Excs Rtn	8.7%	-38.2%	81.0%	-81.3%	-43.0%	26.0%	-14.8%
3M Excs Rtn	4.2%	-32.1%	32.3%	-94.3%	0.1%	8.7%	2.2%
6M Excs Rtn	38.6%	-52.3%	-25.2%	-102.4%	-24.2%	-97.7%	-38.7%
12M Excs Rtn	14.5%	-37.2%	-	-111.3%	31.4%	-103.4%	-37.2%
3Y Excs Rtn	95.2%	-	-	-	-	-	95.2%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	1/3/2021	12/31/2019
Filing Date	10/23/2025	4/29/2025	4/30/2024	5/15/2023	4/29/2022	4/20/2021	5/4/2020
Key Financials
Total Revenue	14,218	14,101	13,010	11,508	10,068	7,238	3,085
EBITDA	2,503	2,213	2,627	2,218	2,720	948	829
Operating Income	1,779	1,853	2,339	2,050	2,602	2,063	812
Net Income	1,018	712	1,039	873	1,752	298	472
EPS	27.29	19.11	27.90	23.42	47.38	8.76	13.70
Growth Rates
Total Revenue Growth	3.6%	8.4%	13.1%	14.3%	39.1%	134.6%	33.1%
EBITDA Growth	2.5%	-15.8%	18.4%	-18.5%	187.0%	14.4%	47.5%
Operating Income Growth	-26.8%	-20.8%	14.1%	-21.2%	26.1%	154.0%	47.2%
Net Income Growth	15.4%	-31.5%	19.1%	-50.2%	486.9%	-36.8%	57.8%
Margins
EBITDA Margin	17.6%	15.7%	20.2%	19.3%	27.0%	13.1%	26.9%
Operating Income Margin	12.5%	13.1%	18.0%	17.8%	25.8%	28.5%	26.3%
Net Income Margin	7.2%	5.0%	8.0%	7.6%	17.4%	4.1%	15.3%
Cash & Debt
Total Cash	334	297	550	816	1,175	650	214
Total Debt	5,216	5,170	5,520	6,441	1,528	654	702
Net Debt / (Cash)	4,883	4,873	4,970	5,625	353	4	489
Cash Flows
Net Cash from Operations	1,659	1,797	2,367	1,410	1,466	1,822	605
Free Cash from Operations	1,581	1,606	2,236	1,234	1,064	1,205	423
Returns to Shareholders
Dividends	898	998	649	950	1,400	830	343
Share Repurchases	-0	-0	-0	25	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/24/2025	4/24/2025	4/29/2025	10/24/2024	7/25/2024	4/25/2024	4/30/2024	10/26/2023	7/28/2023	4/28/2023	5/15/2023
Key Financials Quarterly
Total Revenue	3,377	3,563	3,499	3,778	3,330	3,389	3,603	3,402	3,124	3,220	3,264	3,232
Ebitda	634	776	527	566	120	810	716	795	546	773	606	587
Operating Income	627	582	434	136	496	560	661	715	438	625	561	478
Net Income	314	327	151	225	-113	304	295	396	197	258	188	250
EPS	8.42	8.77	4.06	6.04	-3.02	8.14	7.91	10.88	5.28	6.92	5.04	5.61
Key Financials TTM
Total Revenue TTM	14,218	14,171	13,997	14,101	13,724	13,517	13,348	13,010	12,840	12,888	12,912	11,516
Ebitda TTM	2,503	1,989	2,024	2,213	2,441	2,867	2,830	2,720	2,512	2,496	2,345	2,199
Operating Income TTM	1,779	1,648	1,626	1,853	2,432	2,374	2,439	2,339	2,102	2,126	2,050	2,033
Net Income TTM	1,018	591	568	712	882	1,192	1,146	1,039	893	748	779	859
Growth Rates Quarterly
Total Revenue Growth	1.4%	5.1%	-2.9%	11.1%	6.6%	5.3%	10.4%	5.2%	-1.5%	-0.7%	74.6%	46.3%
EBITDA Growth	428.3%	-4.2%	-26.4%	-28.7%	-78.0%	4.8%	18.1%	35.4%	3.1%	24.3%	31.6%	111.8%
Operating Income Growth	26.4%	4.0%	-34.3%	-81.0%	13.3%	-10.4%	17.8%	49.6%	-5.2%	13.9%	3.0%	70.3%
Net Income Growth	379.1%	7.7%	-48.7%	-43.1%	-157.1%	17.6%	57.0%	58.4%	279.2%	-10.7%	-29.7%	80.0%
Margins Quarterly
EBITDA Margin	18.8%	21.8%	15.1%	15.0%	3.6%	23.9%	19.9%	23.4%	17.5%	24.0%	18.6%	18.2%
Operating Income Margin	18.6%	16.3%	12.4%	3.6%	14.9%	16.5%	18.3%	21.0%	14.0%	19.4%	17.2%	14.8%
Net Income Margin	9.3%	9.2%	4.3%	6.0%	-3.4%	9.0%	8.2%	11.6%	6.3%	8.0%	5.8%	7.7%
Cash & Debt
Total Cash	334	392	344	297	316	423	425	550	496	729	580	816
Total Debt	5,216	5,459	5,650	5,170	5,275	5,389	5,435	5,520	5,697	5,800	5,968	6,441
Net Debt / (Cash)	4,883	5,067	5,306	4,873	4,958	4,966	5,010	4,970	5,200	5,072	5,388	5,625
Cash Flows Quarterly
FCF from Operations	614	575	-43	513	-18	918	384	732	316	1,319	554	1,054
Cash Flows TTM
FCF from Operations TTM	1,659	1,027	1,370	1,797	2,016	2,350	2,751	2,921	3,243	3,335	2,056	1,410
Returns to Shareholders Quarterly
Dividends	-50	449	250	250	0	499	250	200	200	250	100	50
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	0
Return on Invested Capital (ROIC) Quarterly
ROIC	30.5%	33.0%	16.8%	7.8%	38.0%	28.4%	32.2%	44.2%	21.6%	26.4%	21.6%	30.6%
Return on Invested Capital (ROIC) TTM
ROIC TTM	23.1%	18.7%	16.5%	21.7%	30.1%	32.7%	33.5%	32.6%	24.2%	20.5%	19.5%	21.4%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Beauty and Personal Care Segment (JAFRA)	7,283	5,167
Home Organization Segment (BWM)	5,727	6,343	10,068
Eliminations		-2
Bathroom				843	441
Bedroom				827	276
Home solutions				1,457	530
Kitchen and food preservation				2,532	1,229
Laundry & Cleaning				828	319
Tech & mobility				773	290
Total	13,010	11,508	10,068	7,260	3,085

Operating Income by Segment

$ Mil	2024	2023	2022
Home Organization Segment (BWM)	1,435	1,405	2,602
Beauty and Personal Care Segment (JAFRA)	1,286	623
Depreciation and amortization	-382
Eliminations		0
Total	2,339	2,028	2,602

Assets by Segment

$ Mil	2024	2023	2022
Home Organization Segment (BWM)	10,195	8,958	5,185
Beauty and Personal Care Segment (JAFRA)	9,345	8,155
Eliminations	-8,452	-5,780
Total	11,088	11,333	5,185

Price Behavior

Price Behavior

Market Price	$13.91
Market Cap ($ Bil)	0.5
First Trading Date	03/16/2020
Distance from 52W High	-6.8%
	50 Days	200 Days
DMA Price	$13.28	$10.89
DMA Trend	up	up
Distance from DMA	4.8%	27.8%
	3M	1YR
Volatility	30.7%	45.9%
Downside Capture	65.62	32.94
Upside Capture	87.96	52.29
Correlation (SPY)	19.7%	23.5%

BWMX Betas & Captures as of 10/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.26	0.35	1.07	0.66	0.56	0.59
Up Beta	1.02	0.96	2.80	1.11	0.72	0.44
Down Beta	-0.25	-0.30	-0.16	1.10	0.55	0.62
Up Capture	85%	76%	121%	80%	37%	52%
Bmk +ve Days	14	27	37	74	145	425
Stock +ve Days	11	20	32	62	110	366
Down Capture	-6%	34%	98%	-60%	46%	83%
Bmk -ve Days	9	17	28	53	106	327
Stock -ve Days	12	22	30	60	132	364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of BWMX With Other Asset Classes (Last 1Y)
	BWMX	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	24.1%	6.3%	12.6%	54.8%	4.2%	-2.7%	7.1%
Annualized Volatility	45.6%	24.6%	19.5%	19.7%	16.0%	17.7%	35.7%
Sharpe Ratio	0.60	0.20	0.48	2.10	0.07	-0.31	0.23
Correlation With Other Assets		19.4%	23.6%	0.1%	13.8%	19.0%	6.2%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of BWMX With Other Asset Classes (Last 5Y)
	BWMX	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-8.6%	9.3%	15.0%	16.2%	12.8%	5.2%	43.8%
Annualized Volatility	57.1%	23.7%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.08	0.36	0.71	0.84	0.56	0.19	0.71
Correlation With Other Assets		21.9%	21.2%	3.0%	7.8%	19.1%	11.1%

Based On 10-Year Data

		Comparison of BWMX With Other Asset Classes (Last 10Y)
	BWMX	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	17.3%	12.2%	14.2%	13.5%	5.4%	5.5%	73.6%
Annualized Volatility	70.6%	22.0%	18.1%	14.8%	17.7%	20.9%	56.1%
Sharpe Ratio	0.54	0.52	0.68	0.75	0.23	0.24	0.93
Correlation With Other Assets		18.6%	16.8%	1.8%	7.9%	13.8%	8.1%

Short Interest

Short Interest: As Of Date	10312025
Short Interest: Shares Quantity	39,382
Short Interest: % Change Since 10152025	-40.2%
Average Daily Volume	60,079
Days-to-Cover Short Interest	1
Basic Shares Quantity	37,316,508
Short % of Basic Shares	0.1%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10232025	6-K 9/30/2025
6302025	7242025	6-K 6/30/2025
3312025	4242025	6-K 3/31/2025
12312024	4292025	20-F 12/31/2024
9302024	10242024	6-K 9/30/2024
6302024	7252024	6-K 6/30/2024
3312024	4252024	6-K 3/31/2024
12312023	4302024	20-F 12/31/2023
9302023	10262023	6-K 9/30/2023
6302023	7282023	6-K 6/30/2023
3312023	4282023	6-K 3/31/2023
12312022	5152023	20-F 12/31/2022
9302022	10272022	6-K 9/30/2022
6302022	7282022	6-K 6/30/2022
3312022	4282022	6-K 3/31/2022
12312021	4292022	20-F 12/31/2021

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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Betterware de Mexico SAPI de CV (BWMX)

Market Price (11/18/2025): $13.85 | Market Cap: $516.8 MilSector: Consumer Discretionary | Industry: Other Specialty Retail

Betterware de Mexico SAPI de CV (BWMX)

Market Price (11/18/2025): $13.85Market Cap: $516.8 MilSector: Consumer DiscretionaryIndustry: Other Specialty Retail

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About Betterware de Mexico SAPI de CV (BWMX)

Direct Selling Market (Mexico)

Home Organization Products (Mexico)

Beauty and Personal Care Products (Mexico)

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Market Price (11/18/2025): $13.85 | Market Cap: $516.8 Mil
Sector: Consumer Discretionary | Industry: Other Specialty Retail

Market Price (11/18/2025): $13.85
Market Cap: $516.8 Mil
Sector: Consumer Discretionary
Industry: Other Specialty Retail