Which Mexican Companies Have the Highest Earnings Per Employee?

Bloomberg Línea presents a list of the Mexican companies that are the most efficient in terms of generating profits with their employees

Mexican company earnings by employee.
May 17, 2023 | 05:00 AM

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Mexico City — Human capital is one of the major factors in the generation of wealth for companies, thanks to their contribution of talent, knowledge, relationships and reputation. Every year, companies operating in Mexico must distribute 10% of their annual profits to their workers, a labor right known as workers’ profit sharing (PTU).

In the run-up to the payment of this benefit, Bloomberg Línea has conducted an exercise to identify the Mexican companies, those that are listed on the main index of the Mexican Stock Exchange, with the highest levels of profit per employee.

These are Mexican companies that receive a higher return for the talent that forms part of their ranks. A value metric that approximates the effect of intangible factors provided by workers, such as their knowledge, experience, creativity and negotiation skills.

The metric also provides companies with an indication of productivity and efficiency in hiring decisions.


The exercise considered the profit per employee index compiled by Bloomberg, a ratio created from the net result over the number of workers that companies had at the end of 2022.

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The top 3 companies with the highest profit per employee:

Three Mexican companies stand out for generating the highest profit per employee. Two of them are part of the airports sector, which is characterized by its strength in generating profits, and one is an industrial real estate investment trust, a segment on which some analysts have focused their attention due to the growth prospects of nearshoring.

Grupo Aeroportuario del Sureste (Asur) and Grupo Aeroportuario del Pacífico (GAP) are in second and third place. The companies, which have operations in Mexico, Colombia and Jamaica, exceeded nine billion pesos ($514.4 million) in net profits in 2022, with around 2,000 workers.


In first place is Vesta, a REIT that recorded profits of 4.9 billion pesos ($280 million) with fewer than a hundred employees.

Mexican companies with the highest net profits:

During 2022, three large Mexican companies stood out for generating the highest profits: the Slim family’s telecommunications conglomerate América Móvil, Germán Larrea’s mining company Grupo México, and the retail giant Walmart de México (Walmex).

Of these, América Móvil and Walmex also stood out as the companies with the largest number of employees hired in their operations, both in Mexico and in other markets abroad.

Fomento Económico Mexicano (FEMSA), the retail and Coca-Cola bottling group, is the Mexican company with the largest number of employees, with more than 350,000 in all its markets in the Americas and Europe.


The parent company of the Oxxo convenience-store chain generated net income of 23.9 billion pesos ($1.36 billion).

The company had a record 2.59 billion pesos ($148 million) in employee profit sharing in 2022, according to Bloomberg data.

The list and its methodology

The list considers 30 of the 35 companies that are part of the Mexican stock exchange’s S&P/BMV IPC index.


The companies not on the list are absent because the complete information was not identified in the Bloomberg terminal.

Information is presented in order of those companies that generated the highest profit per employee in millions of pesos, as well as figures on net profit and the number of employees at the end of 2022.

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