Razones Financier As Mexico

RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Razn del cido = (activo circulante - inventario) / pasivo circulante 94 - 07 1994 1995 1996 1997 1998 1999 2000 2001 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 1.0 0.9 1.0 1.0 0.5 1.5 0.4 1.4 0.7 1.7 N/D N/D N/D N/D 1.2 0.8 0.6 1.1 1.1 1.1 0.6 0.4 0.8 0.8 1.3 1.0 1.3 1.2 0.5 0.9 0.7 1.3 N/D N/D N/D N/D 0.9 0.6 0.2 2.7 1.0 1.3 0.4 0.6 0.9 1.0 0.8 0.8 2.1 1.3 0.7 0.9 1.0 1.5 N/D N/D N/D N/D 0.9 0.6 0.1 3.9 1.9 1.4 0.5 0.5 1.0 1.9 0.7 1.0 1.0 1.5 0.7 1.0 0.8 1.4 N/D N/D N/D N/D 1.2 0.7 0.2 1.7 2.3 1.2 0.9 0.6 1.0 1.5 0.5 1.0 1.1 1.2 0.6 1.1 0.7 1.5 N/D N/D N/D N/D 0.9 0.7 0.4 3.1 1.4 0.9 0.7 0.8 1.1 1.3 0.9 1.1 1.3 0.8 0.6 1.4 0.8 1.6 N/D N/D N/D N/D 0.8 0.8 1.0 1.4 1.7 0.6 1.0 0.6 0.8 1.2 0.5 1.4 1.1 0.4 0.6 1.4 0.6 0.7 N/D N/D N/D N/D 0.6 0.7 0.6 0.7 1.1 0.5 1.0 0.8 0.9 1.0 0.4 1.6 0.9 0.9 0.6 1.5 0.8 0.9 N/D N/D N/D N/D 1.0 0.7 0.6 0.6 1.3 0.7 0.7 0.4

2002 0.9 1.1 0.4 2.0 0.6 0.6 0.5 1.8 0.7 1.0 N/D N/D N/D N/D 1.1 0.8 0.7 0.6 0.6 0.3 1.0 1.1

2003 0.9 1.4 0.4 1.2 1.0 0.7 0.6 2.2 0.8 0.9 N/D N/D N/D N/D 1.2 1.0 0.8 1.1 0.6 0.4 1.4 1.3

2004 1.0 1.5 0.3 1.1 1.0 0.7 0.6 1.8 0.9 1.0 N/D N/D N/D N/D 1.3 1.1 0.8 1.4 1.4 1.2 1.5 1.1

2005 1.0 1.6 0.5 1.2 1.0 0.9 0.6 2.0 1.0 0.9 N/D N/D N/D N/D 1.9 1.5 1.0 1.5 1.4 1.3 1.6 0.7

2006 1.2 1.3 0.5 1.3 1.1 1.0 0.5 1.4 0.5 1.1 4.1 1.1 0.8 1.3 1.9 1.2 1.0 1.7 N/D 1.0 1.4 1.0

2007 1.1 1.2 0.0 1.2 1.5 0.6 0.6 1.4 0.7 1.0 4.0 1.0 0.5 3.5 1.9 1.3 1.0 2.1 N/D 0.9 3.2 0.7

Prom 94 - 07 1.0 1.3 0.6 1.2 1.1 0.9 0.6 1.4 0.8 1.2 N/D N/D N/D N/D 1.2 0.9 0.6 1.7 1.3 0.9 1.1 0.8

Prom 94-00 0.9 1.2 0.8 1.0 1.2 1.1 0.6 1.2 0.8 1.4 N/D N/D N/D N/D 0.9 0.7 0.4 2.1 1.5 1.0 0.7 0.6

Prom 01-07 1.0 1.3 0.4 1.4 1.0 0.8 0.6 1.7 0.8 1.0 4.0 1.0 0.7 2.4 1.5 1.1 0.8 1.3 N/D 0.8 1.5 0.9

Elaborado por Alberto Calva-Mercado y Acus Consultores, S.C. a partir de los estados financieros de empresas que cotizan en la Bolsa Mexicana de Valores. Todas las razones financieras se obtuvieron tomando el saldo final a diciembre de cada ao en el balance general y no el promedio. El autor no se hacen responsable por las decisiones que se tomen con base en la informacin y comentarios aqu presentados, ni por la exactitud de las cifras.

Acus Consultores, S.C. www.acus.com.mx [email protected]

-1(55)5807-6891 y (55)5272-4032

Alberto Calva-Mercado [email protected] [email protected]

RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Clientes / proveedores 94 - 07 1994 1995 1996 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 1.7 1.9 1.3 1.2 2.6 2.8 0.1 3.6 0.8 2.2 N/D N/D N/D N/D 5.3 1.8 5.0 2.1 1.6 2.8 2.8 1.9 1.5 2.1 1.6 1.1 2.1 2.3 0.1 2.6 1.0 1.7 N/D N/D N/D N/D 3.5 1.8 5.6 2.2 2.3 2.4 1.5 1.3 1.5 2.1 1.2 1.0 2.6 1.8 0.1 1.7 1.1 4.0 N/D N/D N/D N/D 3.1 1.5 0.7 1.3 2.3 2.7 1.5 1.4

1997 1.4 2.0 1.2 1.0 2.4 1.7 0.0 1.8 0.9 4.2 N/D N/D N/D N/D 3.5 1.4 0.5 1.6 2.2 2.1 1.6 2.2

1998 1.3 1.8 1.4 0.9 1.4 1.9 0.0 2.0 0.7 4.0 N/D N/D N/D N/D 1.9 1.5 1.0 1.0 2.5 1.9 1.4 2.9

1999 1.4 1.8 1.4 0.9 3.0 1.5 0.1 2.6 0.9 5.5 N/D N/D N/D N/D 2.9 1.6 1.0 0.8 2.0 1.2 1.9 1.8

2000 1.3 1.7 1.4 0.8 2.1 1.3 0.1 3.3 0.7 5.6 N/D N/D N/D N/D 2.9 1.2 1.2 0.8 2.5 1.2 1.7 2.2

2001 1.4 1.9 1.2 0.7 1.8 1.8 0.1 3.2 0.7 6.5 N/D N/D N/D N/D 2.6 1.3 1.1 0.7 2.2 1.5 1.6 1.6

2002 1.4 1.7 1.0 0.6 2.1 1.3 0.1 3.6 0.6 6.8 N/D N/D N/D N/D 2.8 1.4 1.0 0.7 2.2 1.1 1.6 1.9

2003 1.5 1.5 0.9 0.6 2.1 1.2 0.1 3.4 0.8 6.6 N/D N/D N/D N/D 2.3 1.5 1.1 1.3 2.2 1.0 1.6 1.8

2004 1.6 1.3 0.7 0.6 2.2 1.0 0.1 3.2 1.0 10.6 N/D N/D N/D N/D 2.2 1.4 1.3 1.7 2.2 1.1 1.7 1.2

2005 1.7 1.4 0.9 0.6 2.3 1.2 0.1 3.0 1.3 12.3 N/D N/D N/D N/D 2.2 1.5 1.5 2.1 1.8 1.6 1.9 1.7

2006 1.2 1.3 0.9 0.6 1.4 0.9 0.1 3.7 0.5 1.4 4.8 32.5 0.4 0.6 2.9 1.6 1.2 2.5 N/D 1.2 1.2 2.2

2007 1.2 1.3 0.1 0.7 1.8 1.0 0.1 3.4 0.6 1.2 3.6 20.4 0.4 1.9 2.5 1.2 1.8 1.8 N/D 1.1 1.2 2.8

Prom 94 - 07 1.4 1.7 1.1 0.8 2.1 1.5 0.1 2.9 0.8 5.2 N/D N/D N/D N/D 2.9 1.5 1.7 1.5 2.2 1.6 1.7 1.9

Prom 94-00 1.4 1.9 1.4 1.0 2.3 1.9 0.1 2.5 0.9 3.9 N/D N/D N/D N/D 3.3 1.5 2.2 1.4 2.2 2.0 1.8 2.0

Prom 01-07 1.4 1.5 0.8 0.7 2.0 1.2 0.1 3.4 0.8 6.5 4.2 26.5 0.4 1.3 2.5 1.4 1.3 1.5 N/D 1.2 1.6 1.9



-2(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Apalancamiento = pasivo total / capital contable 94 - 07 1994 1995 1996 1997 1998 1999 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.8 0.8 1.5 0.4 1.8 0.8 0.6 0.8 0.9 0.7 N/D N/D N/D N/D 1.4 1.0 1.5 0.5 0.7 0.9 1.2 1.2 0.9 0.9 1.8 0.5 0.5 0.9 0.5 1.0 1.1 0.6 N/D N/D N/D N/D 1.3 1.3 4.8 0.5 0.8 0.7 1.2 1.0 0.8 0.7 2.8 0.5 0.3 0.9 0.4 1.2 0.8 0.5 N/D N/D N/D N/D 1.2 1.4 55.7 0.4 0.7 0.6 1.0 1.2 0.9 0.4 3.4 0.5 0.5 0.8 0.5 0.7 1.0 0.7 N/D N/D N/D N/D 1.8 1.5 24.7 0.5 0.6 0.7 1.1 1.2 0.8 0.6 5.2 0.5 0.4 0.7 0.5 0.6 1.1 0.7 N/D N/D N/D N/D 1.9 1.3 1.1 0.6 0.7 1.3 1.2 0.9 0.8 1.0 1.4 0.4 0.4 0.7 0.5 0.5 1.1 0.7 N/D N/D N/D N/D 1.4 1.1 0.5 1.0 0.8 1.3 0.8 1.5

2000 1.3 1.1 2.0 0.6 0.6 1.0 0.7 1.0 1.6 1.6 N/D N/D N/D N/D 1.7 1.6 0.7 1.3 1.2 1.8 1.2 2.8

2001 1.2 0.6 1.9 0.5 0.9 0.9 0.7 0.9 1.8 1.7 N/D N/D N/D N/D 1.7 1.7 0.8 1.4 1.2 1.5 1.1 3.9

2002 1.3 0.8 1.9 0.5 1.5 1.1 0.7 1.1 1.6 1.7 N/D N/D N/D N/D 1.5 1.5 0.9 1.7 1.4 1.8 1.2 2.2

2003 1.3 0.6 1.9 0.8 0.6 1.2 0.7 1.0 1.8 1.5 N/D N/D N/D N/D 1.3 1.5 0.9 1.5 1.8 2.3 1.1 1.7

2004 1.3 0.7 1.9 0.8 0.7 1.0 0.6 1.0 1.9 1.8 N/D N/D N/D N/D 1.2 1.3 0.9 1.2 1.9 1.1 0.6 1.8

2005 1.2 0.6 1.9 0.6 0.7 1.4 0.7 1.0 1.9 1.7 N/D N/D N/D N/D 1.3 0.9 0.9 0.8 1.4 0.9 0.5 3.8

2006 1.1 0.6 1.7 0.6 1.3 1.0 0.7 1.6 2.1 1.7 1.5 1.9 2.0 0.4 1.3 1.0 0.9 0.8 N/D 0.9 0.5 0.6

2007 1.2 0.5 11.5 0.6 1.4 1.6 0.8 1.7 1.2 1.7 1.5 2.1 1.8 0.2 1.1 1.0 1.0 0.6 N/D 1.4 0.3 4.9

Prom 94 - 07 1.1 0.7 2.9 0.6 0.8 1.0 0.6 1.0 1.4 1.2 N/D N/D N/D N/D 1.4 1.3 6.8 0.9 1.1 1.2 0.9 2.1

Prom 94-00 0.9 0.8 2.6 0.5 0.7 0.8 0.5 0.8 1.1 0.8 N/D N/D N/D N/D 1.5 1.3 12.7 0.7 0.8 1.0 1.1 1.4

Prom 01-07 1.2 0.6 3.2 0.6 1.0 1.2 0.7 1.2 1.8 1.7 1.5 2.0 1.9 0.3 1.3 1.3 0.9 1.1 N/D 1.4 0.8 2.7



-3(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Deuda de corto plazo = pasivo de corto plazo / pasivo total 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.5 0.6 0.3 0.5 0.8 0.3 0.8 0.6 0.7 0.3 N/D N/D N/D N/D 0.5 0.5 0.3 0.5 0.4 0.5 0.5 0.8 0.5 0.6 0.2 0.4 0.7 0.3 0.8 0.7 0.9 0.4 N/D N/D N/D N/D 0.4 0.5 0.6 0.4 0.5 0.5 0.4 0.8 0.5 0.5 0.3 0.5 0.7 0.3 0.9 0.6 0.7 0.4 N/D N/D N/D N/D 0.4 0.6 0.8 0.3 0.3 0.5 0.4 0.8 0.5 0.5 0.3 0.4 0.8 0.3 0.9 0.7 0.7 0.4 N/D N/D N/D N/D 0.6 0.5 0.7 0.4 0.3 0.6 0.3 0.6 0.5 0.4 0.5 0.5 0.8 0.3 0.9 0.6 0.7 0.4 N/D N/D N/D N/D 0.7 0.5 0.5 0.2 0.4 0.4 0.3 0.6 0.5 0.5 0.5 0.5 0.7 0.3 0.9 0.7 0.8 0.4 N/D N/D N/D N/D 0.7 0.5 0.3 0.2 0.3 0.5 0.3 0.6 0.5 0.6 0.7 0.4 0.6 0.5 0.7 0.5 0.6 0.6 N/D N/D N/D N/D 0.7 0.4 0.3 0.2 0.4 0.6 0.3 0.4

2001 0.4 0.5 0.8 0.4 0.7 0.3 0.7 0.5 0.6 0.4 N/D N/D N/D N/D 0.7 0.4 0.3 0.3 0.3 0.5 0.3 0.6

2002 0.4 0.4 0.8 0.4 0.8 0.3 0.7 0.4 0.6 0.3 N/D N/D N/D N/D 0.6 0.4 0.3 0.3 0.6 0.8 0.3 0.3

2003 0.4 0.3 0.8 0.3 0.7 0.3 0.7 0.4 0.7 0.4 N/D N/D N/D N/D 0.6 0.4 0.3 0.2 0.5 0.9 0.2 0.3

2004 0.4 0.4 0.8 0.3 0.7 0.3 0.7 0.5 0.7 0.4 N/D N/D N/D N/D 0.6 0.4 0.3 0.2 0.2 0.4 0.3 0.3

2005 0.4 0.4 0.8 0.4 0.7 0.3 0.7 0.4 0.7 0.4 N/D N/D N/D N/D 0.4 0.4 0.3 0.3 0.3 0.4 0.4 0.3

2006 0.4 0.5 0.7 0.4 0.5 0.3 0.7 0.7 0.7 0.4 0.2 0.3 0.5 0.4 0.5 0.5 0.3 0.4 N/D 0.5 0.5 0.5

2007 0.4 0.5 1.0 0.4 0.3 0.2 0.8 0.7 0.8 0.4 0.2 0.3 0.5 0.2 0.5 0.5 0.3 0.3 N/D 0.5 0.5 0.9

Prom 94 - 07 0.4 0.5 0.6 0.4 0.7 0.3 0.8 0.6 0.7 0.4 N/D N/D N/D N/D 0.6 0.4 0.4 0.3 0.4 0.5 0.4 0.5

Prom 94-00 0.5 0.5 0.4 0.5 0.7 0.3 0.9 0.6 0.7 0.4 N/D N/D N/D N/D 0.6 0.5 0.5 0.3 0.4 0.5 0.4 0.7

Prom 01-07 0.4 0.4 0.8 0.4 0.6 0.3 0.7 0.5 0.7 0.4 0.2 0.3 0.5 0.3 0.5 0.4 0.3 0.3 N/D 0.6 0.4 0.4



-4(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Das cartera das clientes = (clientes * 360 / ventas netas) 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 59 40 61 25 99 58 4 153 34 65 N/D N/D N/D N/D 111 55 83 80 75 104 124 125 49 36 55 21 142 50 4 151 48 56 N/D N/D N/D N/D 158 51 106 43 65 70 54 88 46 28 47 20 127 42 5 110 51 67 N/D N/D N/D N/D 121 46 73 35 68 72 52 83 49 30 57 21 80 41 3 110 43 64 N/D N/D N/D N/D 183 50 46 37 68 71 58 83 46 34 51 20 128 42 3 108 37 66 N/D N/D N/D N/D 113 53 49 34 71 68 54 90 45 31 41 20 127 40 4 104 48 57 N/D N/D N/D N/D 105 56 28 65 74 71 63 119 41 28 73 18 83 42 5 116 32 58 N/D N/D N/D N/D 118 42 29 37 71 64 62 120

2001 43 32 54 17 84 35 5 119 42 60 N/D N/D N/D N/D 114 49 28 34 77 74 61 109

2002 40 34 61 15 103 28 4 133 31 54 N/D N/D N/D N/D 111 49 31 33 79 76 65 93

2003 41 28 53 16 99 29 4 137 40 52 N/D N/D N/D N/D 113 53 39 42 83 73 57 91

2004 44 28 44 15 102 24 3 149 50 55 N/D N/D N/D N/D 130 55 41 46 74 74 56 67

2005 43 28 43 16 105 39 3 151 60 46 N/D N/D N/D N/D 128 53 40 34 72 74 72 68

2006 47 30 46 18 67 30 4 167 24 54 139 60 32 22 168 55 35 39 N/D 71 38 77

2007 45 29 66 20 61 35 4 165 39 49 134 50 32 47 165 53 50 28 N/D 73 40 27

Prom 94 - 07 46 31 54 19 100 38 4 134 41 57 N/D N/D N/D N/D 131 51 48 42 73 74 61 88

Prom 94-00 48 32 55 21 112 45 4 122 42 62 N/D N/D N/D N/D 130 50 59 48 70 74 67 101

Prom 01-07 44 30 53 17 88 31 4 146 41 53 136 55 32 35 133 52 38 37 N/D 73 56 76



-5(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Das inventario = (inventario * 360 / costo de ventas) 94 - 07 1994 1995 1996 1997 1998 1999 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 93 104 184 102 150 73 53 110 80 155 N/D N/D N/D N/D 52 97 451 164 68 45 117 121 83 88 182 77 227 74 47 101 90 145 N/D N/D N/D N/D 79 82 386 116 55 42 110 83 74 74 150 79 193 69 51 109 79 55 N/D N/D N/D N/D 88 74 130 115 60 40 109 94 78 76 154 78 96 63 61 123 85 65 N/D N/D N/D N/D 89 77 103 111 59 41 112 125 76 86 119 74 214 60 53 106 84 68 N/D N/D N/D N/D 68 79 85 108 52 44 122 133 71 67 61 74 198 78 57 84 79 36 N/D N/D N/D N/D 87 84 70 155 65 47 115 118

2000 67 59 114 73 124 78 52 92 75 33 N/D N/D N/D N/D 111 79 58 88 59 42 112 101

2001 66 86 95 73 99 64 52 75 83 36 N/D N/D N/D N/D 144 76 72 79 55 46 102 86

2002 63 85 102 74 125 69 55 84 78 27 N/D N/D N/D N/D 162 78 72 86 53 41 101 64

2003 59 72 101 66 169 56 49 83 81 26 N/D N/D N/D N/D 173 73 65 92 57 39 79 71

2004 63 57 129 61 156 56 50 86 83 33 N/D N/D N/D N/D 228 82 60 88 50 34 115 73

2005 56 55 93 53 172 46 47 85 78 28 N/D N/D N/D N/D 196 71 53 77 51 46 135 82

2006 58 53 114 51 57 42 49 83 70 29 69 7 50 61 183 70 55 81 N/D 48 101 84

2007 61 62 11 55 53 50 48 84 83 30 66 11 43 7 225 72 50 89 N/D 57 97 38

Prom 94 - 07 69 73 115 71 145 63 52 93 81 55 N/D N/D N/D N/D 135 78 122 104 57 44 109 91

Prom 94-00 77 79 138 79 172 71 53 104 82 80 N/D N/D N/D N/D 82 82 183 123 60 43 114 111

Prom 01-07 61 67 92 62 119 55 50 83 79 30 67 9 46 34 187 74 61 85 N/D 44 104 71



-6(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Rotacin del activo fijo = (ventas netas / activo fijo neto) 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.93 1.50 1.74 1.06 1.58 0.55 2.13 1.54 3.27 0.67 N/D N/D N/D N/D 2.71 0.96 0.48 0.40 0.73 0.90 0.43 0.55 0.97 1.65 2.02 1.15 1.21 0.48 2.15 1.05 3.84 0.67 N/D N/D N/D N/D 1.56 1.06 0.33 0.87 0.84 1.40 0.54 0.94 1.06 2.08 2.70 1.18 1.28 0.55 2.17 1.07 4.48 0.70 N/D N/D N/D N/D 2.08 1.16 0.30 0.76 0.75 1.39 0.69 1.12 1.13 1.70 2.84 1.26 2.05 0.60 2.01 1.21 4.75 0.90 N/D N/D N/D N/D 2.29 1.21 0.38 0.57 0.81 1.38 0.72 1.06 1.17 1.64 3.56 1.30 1.30 0.71 2.28 1.33 5.29 0.95 N/D N/D N/D N/D 2.53 1.14 0.42 0.59 0.81 1.17 0.66 1.21 1.21 1.82 3.58 1.41 1.23 0.73 2.29 1.52 3.93 0.99 N/D N/D N/D N/D 2.75 1.20 0.44 0.42 0.88 0.92 0.68 0.84 1.33 2.05 1.39 1.52 1.15 0.68 2.38 1.67 5.51 0.98 N/D N/D N/D N/D 2.50 1.52 0.50 0.66 0.94 1.02 0.74 0.90

2001 1.28 1.86 1.67 1.53 1.51 0.80 2.45 1.72 4.34 1.03 N/D N/D N/D N/D 4.97 1.31 0.61 0.56 0.84 1.02 0.67 0.86

2002 1.28 1.96 1.78 1.57 1.25 0.76 2.47 1.77 5.79 0.98 N/D N/D N/D N/D 6.07 1.31 0.65 0.50 0.82 0.92 0.64 0.87

2003 1.37 2.11 1.99 1.63 1.33 0.79 2.49 1.87 5.79 1.07 N/D N/D N/D N/D 5.69 1.51 0.70 0.55 0.83 1.07 0.75 0.81

2004 1.55 2.29 2.46 1.79 1.42 0.86 2.53 2.05 5.56 1.22 N/D N/D N/D N/D 8.72 1.79 0.78 0.84 0.97 1.36 1.19 0.91

2005 1.69 2.30 3.07 1.92 1.53 0.99 2.51 2.07 5.59 1.37 N/D N/D N/D N/D 7.86 2.16 0.89 1.12 1.09 1.51 1.84 0.90

2006 1.78 2.38 3.94 2.01 1.50 1.06 2.58 3.01 12.15 1.32 1.90 1.09 1.67 1.65 8.28 2.11 0.93 1.38 N/D 2.28 2.64 0.93

2007 1.71 2.52 0.15 2.23 1.48 0.91 2.41 2.61 8.83 1.37 1.53 1.10 1.85 0.87 8.71 2.03 1.24 1.48 N/D 2.17 2.90 3.68

Prom 94 - 07 1.32 1.99 2.35 1.54 1.42 0.75 2.35 1.75 5.65 1.02 N/D N/D N/D N/D 4.77 1.46 0.62 0.76 0.86 1.32 1.08 1.11

Prom 94-00 1.12 1.78 2.55 1.27 1.40 0.62 2.20 1.34 4.44 0.84 N/D N/D N/D N/D 2.35 1.18 0.41 0.61 0.82 1.17 0.64 0.95

Prom 01-07 1.52 2.20 2.15 1.81 1.43 0.88 2.49 2.16 6.87 1.19 1.72 1.09 1.76 1.26 7.19 1.75 0.83 0.92 N/D 1.47 1.52 1.28



-7(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Rotacin activo total = (ventas netas / activo total) 94 - 07 1994 1995 1996 1997 1998 1999 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.53 0.81 0.60 0.70 0.67 0.32 1.39 0.67 1.46 0.44 N/D N/D N/D N/D 0.45 0.53 0.20 0.27 0.51 0.58 0.31 0.39 0.56 0.90 0.60 0.78 0.53 0.30 1.40 0.52 1.43 0.46 N/D N/D N/D N/D 0.27 0.57 0.15 0.49 0.58 0.82 0.41 0.56 0.61 1.11 0.77 0.77 0.57 0.34 1.33 0.57 1.48 0.44 N/D N/D N/D N/D 0.31 0.68 0.15 0.46 0.53 0.85 0.51 0.64 0.63 0.84 0.78 0.79 0.89 0.37 1.26 0.66 1.51 0.47 N/D N/D N/D N/D 0.37 0.71 0.24 0.37 0.56 0.84 0.50 0.62 0.65 0.82 0.97 0.84 0.59 0.42 1.46 0.73 1.59 0.48 N/D N/D N/D N/D 0.48 0.67 0.27 0.38 0.58 0.73 0.44 0.64 0.66 0.72 1.24 0.88 0.60 0.44 1.44 0.84 1.35 0.53 N/D N/D N/D N/D 0.52 0.69 0.35 0.27 0.57 0.61 0.45 0.50

2000 0.71 0.76 0.75 0.92 0.57 0.40 1.51 0.87 1.65 0.53 N/D N/D N/D N/D 0.46 0.83 0.41 0.44 0.62 0.67 0.47 0.55

2001 0.74 0.97 0.87 0.89 0.75 0.45 1.59 0.89 1.50 0.59 N/D N/D N/D N/D 0.58 0.76 0.47 0.39 0.58 0.65 0.45 0.54

2002 0.73 0.95 0.90 0.85 0.63 0.44 1.58 0.85 1.73 0.57 N/D N/D N/D N/D 0.63 0.76 0.48 0.34 0.58 0.63 0.44 0.59

2003 0.72 1.11 1.01 0.71 0.65 0.46 1.59 0.86 1.60 0.57 N/D N/D N/D N/D 0.65 0.75 0.50 0.36 0.58 0.65 0.51 0.55

2004 0.75 1.19 1.09 0.75 0.66 0.48 1.63 0.89 1.41 0.59 N/D N/D N/D N/D 0.67 0.81 0.57 0.51 0.67 0.78 0.72 0.63

2005 0.81 1.18 1.19 0.79 0.69 0.57 1.65 0.87 1.31 0.69 N/D N/D N/D N/D 0.59 0.94 0.60 0.64 0.76 0.69 0.86 0.62

2006 0.82 1.19 1.19 0.82 0.89 0.61 1.68 0.75 2.25 0.64 0.46 0.64 0.72 0.44 0.62 0.94 0.63 0.70 N/D 1.00 1.21 0.61

2007 0.77 1.25 0.14 0.85 0.91 0.44 1.46 0.66 1.86 0.68 0.42 0.67 0.88 0.19 0.58 0.87 0.64 0.74 N/D 0.85 1.00 0.70

Prom 94 - 07 0.69 0.99 0.86 0.81 0.68 0.43 1.50 0.76 1.58 0.55 N/D N/D N/D N/D 0.51 0.75 0.41 0.45 0.59 0.74 0.59 0.58

Prom 94-00 0.62 0.85 0.81 0.81 0.63 0.37 1.40 0.69 1.50 0.48 N/D N/D N/D N/D 0.41 0.67 0.25 0.38 0.56 0.73 0.44 0.56

Prom 01-07 0.76 1.12 0.91 0.81 0.74 0.49 1.60 0.82 1.67 0.62 0.44 0.65 0.80 0.32 0.62 0.83 0.56 0.53 N/D 0.75 0.74 0.60



-8(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Rotacin capital empleado = (ventas netas / capital empleado) 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.70 1.02 0.76 0.91 0.87 0.38 2.22 0.82 2.12 0.59 N/D N/D N/D N/D 0.61 0.69 0.23 0.33 0.69 0.72 0.41 0.53 0.71 1.12 0.73 0.97 0.70 0.34 2.19 0.68 2.02 0.60 N/D N/D N/D N/D 0.33 0.72 0.16 0.74 0.73 1.07 0.49 0.64 0.77 1.41 0.97 1.00 0.68 0.39 2.18 0.79 2.07 0.55 N/D N/D N/D N/D 0.39 0.85 0.18 0.65 0.66 1.05 0.60 0.84 0.81 1.15 0.99 0.99 1.12 0.41 2.18 0.89 2.12 0.59 N/D N/D N/D N/D 0.50 0.91 0.33 0.48 0.70 1.08 0.61 0.77 0.83 1.03 1.30 1.06 0.76 0.48 2.51 0.96 2.48 0.62 N/D N/D N/D N/D 0.76 0.86 0.32 0.51 0.71 0.89 0.52 0.73 0.89 1.09 1.60 1.16 0.73 0.51 2.53 1.06 2.03 0.74 N/D N/D N/D N/D 0.73 0.89 0.40 0.32 0.72 0.75 0.51 0.58 0.98 1.21 1.03 1.27 0.74 0.46 2.71 1.07 2.49 0.77 N/D N/D N/D N/D 0.71 1.08 0.46 0.53 0.79 0.84 0.55 0.65

2001 0.99 1.16 1.26 1.28 1.03 0.54 2.70 1.11 2.38 0.83 N/D N/D N/D N/D 1.05 0.97 0.52 0.45 0.73 0.81 0.53 0.67

2002 0.97 1.15 1.33 1.32 1.22 0.52 2.57 1.05 2.97 0.75 N/D N/D N/D N/D 1.06 0.98 0.54 0.42 0.72 0.79 0.51 0.70

2003 0.94 1.34 1.49 0.93 0.81 0.55 2.67 1.10 2.74 0.74 N/D N/D N/D N/D 1.06 0.95 0.58 0.43 0.74 0.90 0.60 0.64

2004 1.02 1.53 1.76 0.98 0.80 0.56 2.68 1.17 2.45 0.84 N/D N/D N/D N/D 1.03 1.07 0.66 0.65 0.86 1.01 0.87 0.76

2005 1.15 1.52 2.29 1.02 0.86 0.68 2.83 1.17 2.43 1.01 N/D N/D N/D N/D 0.91 1.39 0.70 0.88 0.99 0.86 1.07 0.75

2006 1.17 1.61 2.24 1.07 1.41 0.76 2.85 1.25 4.22 0.91 0.65 0.84 1.24 0.55 0.97 1.38 0.75 1.08 N/D 1.41 1.65 0.72

2007 1.07 1.66 0.63 1.15 1.35 0.53 2.40 1.13 3.68 0.94 0.63 0.85 1.37 0.22 0.87 1.33 0.79 1.07 N/D 1.23 1.68 2.05

Prom 94 - 07 0.93 1.29 1.31 1.08 0.93 0.51 2.52 1.02 2.59 0.75 N/D N/D N/D N/D 0.78 1.01 0.47 0.61 0.75 0.96 0.76 0.79

Prom 94-00 0.81 1.15 1.05 1.05 0.80 0.43 2.36 0.90 2.19 0.64 N/D N/D N/D N/D 0.58 0.86 0.30 0.51 0.71 0.91 0.53 0.68

Prom 01-07 1.04 1.42 1.57 1.11 1.07 0.59 2.67 1.14 2.98 0.86 0.64 0.85 1.30 0.39 0.99 1.15 0.65 0.71 N/D 1.00 0.99 0.90



-9(55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Margen operativo de ventas = utilidad de operacin / ventas netas 94 - 07 1994 1995 1996 1997 1998 1999 2000 2001 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 14.2% 11.1% -0.9% 13.5% 8.1% 25.2% 4.3% 1.9% 6.3% 28.4% N/D N/D N/D N/D 16.5% 12.1% 19.4% 17.7% 20.4% 8.9% 5.3% 0.4% 14.6% 9.8% 1.1% 10.2% 20.9% 22.6% 3.2% -10.9% 9.0% 23.6% N/D N/D N/D N/D 7.8% 14.2% 0.5% 38.2% 25.4% 17.9% 19.3% 8.9% 14.7% 9.8% 5.2% 12.1% 16.9% 24.1% 4.1% -5.4% 6.8% 28.0% N/D N/D N/D N/D 6.3% 14.4% -42.2% 28.1% 27.4% 17.1% 19.3% 12.0% 14.7% 9.5% 5.6% 15.7% 7.5% 22.6% 4.4% 5.7% 6.1% 25.2% N/D N/D N/D N/D 6.8% 14.9% 0.2% 21.4% 25.9% 15.1% 18.3% 11.5% 15.1% 9.4% 6.6% 15.6% 5.9% 26.9% 4.2% 10.4% 5.9% 26.1% N/D N/D N/D N/D 7.2% 15.8% 11.0% 16.4% 26.5% 12.8% 17.7% 14.8% 16.8% 6.7% 3.0% 16.5% 10.9% 29.4% 5.0% 11.8% 7.4% 32.0% N/D N/D N/D N/D 1.3% 15.0% 15.7% 7.3% 28.7% 4.6% 14.7% 4.4% 15.4% 4.4% 4.4% 17.9% -4.2% 29.4% 5.0% 12.1% 5.3% 30.7% N/D N/D N/D N/D 2.7% 10.4% 12.9% 12.7% 27.5% 2.6% 12.4% 5.9% 15.9% 7.2% 3.1% 18.7% -0.1% 24.2% 5.1% 12.9% 7.0% 30.3% N/D N/D N/D N/D 1.7% 10.6% 13.4% 0.4% 23.1% 1.0% 10.0% -1.6%

2002 15.5% 8.2% 2.6% 20.4% 6.1% 21.8% 4.9% 12.8% 5.0% 26.9% N/D N/D N/D N/D 10.6% 10.2% 10.6% 5.2% 22.3% -3.6% 7.5% 9.7%

2003 15.1% 6.6% 4.0% 18.6% 7.7% 22.2% 5.3% 12.5% 4.8% 25.2% N/D N/D N/D N/D 10.8% 9.3% 10.6% 10.9% 20.0% -0.8% 7.8% 5.2%

2004 16.0% 7.5% 7.1% 17.9% 6.9% 22.7% 6.0% 12.5% 5.4% 22.8% N/D N/D N/D N/D 15.1% 9.4% 12.2% 31.7% 18.8% 2.1% 28.4% 0.8%

2005 16.1% 9.5% 8.5% 17.9% 8.5% 17.0% 6.4% 11.4% 6.3% 22.7% N/D N/D N/D N/D 16.5% 9.3% 14.6% 36.6% 19.0% 7.9% 12.1% -6.9%

2006 16.8% 8.8% 9.3% 17.4% 27.2% 16.8% 7.0% 12.5% 0.2% 25.5% 36.5% 27.4% 23.0% 6.8% 16.6% 9.8% 11.9% 41.2% N/D 13.8% 12.1% -0.1%

2007 17.8% 8.1% -8.8% 17.7% 25.2% 14.8% 7.7% 12.0% 4.1% 28.7% 34.6% 29.4% 26.7% 32.6% 15.6% 8.2% 12.8% 40.2% N/D 13.3% 9.9% 2.6%

Prom 94 - 07 15.6% 8.3% 3.6% 16.4% 10.5% 22.8% 5.2% 8.0% 5.7% 26.9% N/D N/D N/D N/D 9.7% 11.7% 7.4% 22.0% 23.8% 8.0% 13.9% 4.8%

Prom 94-00 15.1% 8.7% 3.6% 14.5% 9.4% 25.7% 4.3% 3.6% 6.7% 27.7% N/D N/D N/D N/D 6.9% 13.8% 2.5% 20.2% 26.0% 11.3% 15.3% 8.3%

Prom 01-07 16.2% 8.0% 3.7% 18.4% 11.7% 19.9% 6.0% 12.4% 4.7% 26.0% 35.5% 28.4% 24.9% 19.7% 12.4% 9.5% 12.3% 23.8% N/D 4.8% 12.6% 1.4%



- 10 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Ebitda / ventas netas 94 - 07 1994 1995 1996 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 19.8% 14.0% 1.7% 17.4% 11.8% 33.8% 6.0% 4.4% 9.2% 39.2% N/D N/D N/D N/D 21.6% 17.3% 25.0% 26.9% 25.8% 15.5% 13.0% 8.4% 21.2% 13.5% 5.8% 14.6% 25.2% 34.3% 5.4% -7.1% 11.0% 38.1% N/D N/D N/D N/D 15.6% 19.7% 8.8% 44.8% 29.9% 22.7% 27.4% 14.9% 21.3% 13.6% 8.7% 17.4% 21.3% 31.2% 6.3% -2.2% 8.6% 45.1% N/D N/D N/D N/D 13.3% 19.6% -33.8% 36.1% 32.6% 22.0% 26.9% 18.5%

1997 21.3% 14.0% 10.2% 21.2% 12.8% 32.9% 6.5% 9.3% 7.8% 40.4% N/D N/D N/D N/D 12.9% 20.0% 7.7% 30.7% 32.0% 20.4% 24.6% 18.5%

1998 21.8% 14.0% 10.8% 20.8% 10.1% 35.3% 6.1% 12.6% 7.6% 42.2% N/D N/D N/D N/D 11.9% 21.1% 18.2% 27.3% 32.3% 18.5% 24.6% 21.8%

1999 24.7% 11.4% 20.1% 22.1% 15.3% 38.1% 7.0% 13.9% 9.3% 48.7% N/D N/D N/D N/D 7.1% 20.4% 23.1% 19.3% 34.7% 12.1% 22.3% 13.9%

2000 22.3% 10.8% 8.2% 23.5% 1.7% 37.6% 7.0% 14.3% 6.9% 45.6% N/D N/D N/D N/D 9.3% 14.9% 20.4% 16.2% 32.8% 10.8% 19.8% 15.1%

2001 23.9% 18.5% 5.4% 24.0% 5.4% 34.7% 7.0% 15.2% 8.9% 44.9% N/D N/D N/D N/D 8.9% 16.0% 20.6% 13.2% 28.8% 9.1% 17.9% 8.7%

2002 23.4% 12.9% 4.4% 26.3% 10.8% 30.5% 6.8% 15.0% 6.8% 42.4% N/D N/D N/D N/D 14.1% 15.7% 18.4% 19.1% 28.9% 12.8% 16.0% 19.5%

2003 23.2% 12.8% 6.6% 23.8% 11.4% 30.9% 7.2% 14.8% 6.5% 41.2% N/D N/D N/D N/D 14.4% 14.4% 17.8% 23.9% 26.5% 5.7% 15.4% 16.7%

2004 23.5% 11.2% 9.0% 23.0% 10.4% 30.9% 7.9% 14.6% 7.3% 37.3% N/D N/D N/D N/D 18.3% 14.1% 19.4% 41.0% 24.8% 8.6% 33.2% 10.9%

2005 23.0% 12.9% 9.8% 22.7% 12.0% 23.9% 8.3% 13.4% 8.2% 35.3% N/D N/D N/D N/D 19.5% 13.1% 21.0% 45.3% 24.7% 11.7% 14.7% 4.6%

2006 23.1% 12.4% 10.6% 22.8% 32.1% 23.4% 8.8% 14.9% 1.2% 38.3% 43.4% 41.6% 35.2% 15.9% 19.2% 13.6% 20.0% 47.3% N/D 17.6% 14.8% 6.5%

2007 24.5% 11.3% 0.0% 22.7% 30.0% 22.1% 9.6% 14.9% 5.2% 41.9% 42.4% 43.3% 40.0% 49.3% 18.3% 12.2% 19.5% 45.9% N/D 17.8% 12.1% 5.0%

Prom 94 - 07 22.6% 13.1% 7.9% 21.6% 15.0% 31.4% 7.1% 10.6% 7.5% 41.5% N/D N/D N/D N/D 14.6% 16.6% 14.7% 31.2% 29.5% 14.7% 20.2% 13.1%

Prom 94-00 21.8% 13.1% 9.4% 19.6% 14.0% 34.7% 6.3% 6.5% 8.6% 42.7% N/D N/D N/D N/D 13.1% 19.0% 9.9% 28.8% 31.4% 17.4% 22.7% 15.9%

Prom 01-07 23.5% 13.1% 6.5% 23.6% 16.0% 28.1% 7.9% 14.7% 6.3% 40.2% 42.9% 42.5% 37.6% 32.6% 16.1% 14.2% 19.5% 33.7% N/D 11.9% 17.7% 10.3%



- 11 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Retorno sobre la inversin = utilidad de operacin / activo total 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 7.6% 9.0% -0.5% 9.5% 5.4% 7.9% 5.9% 1.2% 9.2% 12.4% N/D N/D N/D N/D 7.5% 6.4% 3.9% 4.8% 10.5% 5.1% 1.7% 0.1% 8.2% 8.8% 0.7% 7.9% 11.2% 6.8% 4.5% -5.7% 12.9% 10.8% N/D N/D N/D N/D 2.1% 8.1% 0.1% 18.9% 14.6% 14.7% 8.0% 5.0% 9.0% 10.8% 4.0% 9.3% 9.6% 8.1% 5.4% -3.0% 10.0% 12.2% N/D N/D N/D N/D 2.0% 9.8% -6.5% 12.8% 14.5% 14.5% 9.8% 7.7% 9.3% 8.0% 4.3% 12.5% 6.6% 8.3% 5.6% 3.8% 9.3% 11.9% N/D N/D N/D N/D 2.6% 10.7% 0.0% 7.9% 14.6% 12.7% 9.3% 7.2% 9.8% 7.7% 6.4% 13.0% 3.5% 11.3% 6.2% 7.6% 9.3% 12.5% N/D N/D N/D N/D 3.5% 10.6% 2.9% 6.2% 15.3% 9.4% 7.8% 9.4% 11.1% 4.8% 3.8% 14.6% 6.5% 12.9% 7.3% 10.0% 10.0% 16.9% N/D N/D N/D N/D 0.7% 10.4% 5.5% 1.9% 16.3% 2.8% 6.6% 2.2% 11.0% 3.4% 3.3% 16.4% -2.4% 11.8% 7.6% 10.5% 8.7% 16.1% N/D N/D N/D N/D 1.3% 8.7% 5.2% 5.5% 17.2% 1.8% 5.8% 3.3%

2001 11.7% 6.9% 2.7% 16.7% 0.0% 11.0% 8.1% 11.5% 10.5% 18.0% N/D N/D N/D N/D 1.0% 8.0% 6.3% 0.2% 13.4% 0.7% 4.5% -0.8%

2002 11.3% 7.8% 2.3% 17.3% 3.8% 9.6% 7.7% 10.9% 8.7% 15.4% N/D N/D N/D N/D 6.6% 7.8% 5.1% 1.8% 13.0% -2.3% 3.3% 5.7%

2003 10.8% 7.3% 4.0% 13.2% 5.0% 10.3% 8.4% 10.8% 7.6% 14.4% N/D N/D N/D N/D 7.0% 7.0% 5.3% 3.9% 11.6% -0.5% 4.0% 2.8%

2004 12.0% 8.9% 7.8% 13.4% 4.5% 10.9% 9.8% 11.2% 7.5% 13.5% N/D N/D N/D N/D 10.1% 7.6% 6.9% 16.1% 12.7% 1.6% 20.4% 0.5%

2005 13.1% 11.2% 10.1% 14.2% 5.9% 9.7% 10.5% 9.9% 8.2% 15.7% N/D N/D N/D N/D 9.8% 8.7% 8.7% 23.4% 14.4% 5.5% 10.4% -4.3%

2006 13.8% 10.4% 11.1% 14.2% 24.2% 10.2% 11.9% 9.3% 0.4% 16.2% 16.8% 17.5% 16.6% 3.0% 10.3% 9.1% 7.5% 29.1% N/D 13.8% 14.7% -0.1%

2007 13.7% 10.2% -1.2% 15.0% 22.9% 6.6% 11.2% 7.9% 7.6% 19.6% 14.6% 19.7% 23.4% 6.2% 9.1% 7.1% 8.2% 29.7% N/D 11.3% 10.0% 1.8%

Prom 94 - 07 10.9% 8.2% 4.2% 13.4% 7.6% 9.7% 7.9% 6.8% 8.6% 14.7% N/D N/D N/D N/D 5.2% 8.6% 4.2% 11.6% 14.0% 6.5% 8.3% 2.9%

Prom 94-00 9.4% 7.5% 3.1% 11.9% 5.8% 9.6% 6.1% 3.5% 9.9% 13.3% N/D N/D N/D N/D 2.8% 9.2% 1.6% 8.3% 14.7% 8.7% 7.0% 5.0%

Prom 01-07 12.3% 9.0% 5.2% 14.9% 9.5% 9.8% 9.6% 10.2% 7.2% 16.1% 15.7% 18.6% 20.0% 4.6% 7.7% 7.9% 6.9% 14.9% N/D 4.3% 9.6% 0.8%



- 12 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Retorno sobre capital empleado = Nopat / capital empleado 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 3.5% 7.1% -0.7% 5.6% 7.0% 9.0% 5.8% 0.5% 8.9% 13.7% N/D N/D N/D N/D 7.2% 8.4% 4.4% 5.9% 14.0% 6.3% 2.2% 0.2% 7.5% 8.4% 0.8% 5.7% -17.2% 5.8% 5.9% -7.4% 15.8% 11.6% N/D N/D N/D N/D -0.4% 6.9% 0.1% 23.9% 13.2% 13.8% 7.2% 5.7% 8.8% 10.0% -0.7% 8.6% 3.6% 8.6% 7.5% -4.2% 11.9% 10.7% N/D N/D N/D N/D 1.8% 9.9% -7.5% 14.3% 13.6% 12.1% 10.5% 8.1% 8.7% 8.2% 0.3% 10.5% -10.3% 8.3% 8.1% 4.4% 10.8% 10.0% N/D N/D N/D N/D 1.3% 9.8% -0.4% 8.0% 12.8% 12.0% 9.5% 8.0% 8.1% 6.5% 8.6% 10.1% 4.5% 10.9% 8.7% 7.6% 11.7% 9.3% N/D N/D N/D N/D 5.5% 8.6% 3.5% 5.8% 11.3% 1.3% 1.9% 8.5% 10.6% 4.2% 3.3% 12.0% -9.9% 12.5% 10.7% 10.7% 12.9% 16.2% N/D N/D N/D N/D 0.9% 9.9% 5.1% 1.9% 13.5% -3.1% 6.2% -1.0% 9.6% 0.0% 1.5% 12.9% -3.1% 10.7% 9.8% 7.5% 9.7% 16.0% N/D N/D N/D N/D 1.9% 6.7% 3.6% 0.6% 11.8% 2.2% 3.8% 3.8%

2001 9.4% 2.2% 1.7% 14.3% -0.1% 11.0% 9.4% 9.0% 10.4% 14.9% N/D N/D N/D N/D 1.8% 5.9% 4.4% 0.2% 11.9% 0.8% -1.3% -1.0%

2002 9.0% 5.7% 3.4% 15.6% 7.5% 8.9% 8.9% 8.4% 9.1% 12.1% N/D N/D N/D N/D -1.0% 6.0% 2.3% 2.2% 6.9% -2.9% 3.9% 6.8%

2003 9.1% 6.5% -4.0% 9.7% 3.7% 9.3% 9.7% 8.3% 9.4% 12.6% N/D N/D N/D N/D 4.2% 4.1% 3.7% -1.2% 4.5% -0.7% -0.6% 3.3%

2004 11.3% 7.5% 5.4% 12.4% 3.6% 10.8% 12.7% 10.4% 10.3% 12.4% N/D N/D N/D N/D 10.1% 7.9% 5.1% 12.6% 10.0% 2.1% 19.5% 0.6%

2005 14.1% 9.6% 14.2% 11.7% 3.9% 9.9% 12.7% 8.8% 11.2% 18.6% N/D N/D N/D N/D 10.5% 9.7% 6.6% 23.1% 11.1% 4.4% 11.9% -5.2%

2006 13.7% 9.4% 16.2% 12.2% 25.7% 10.4% 14.2% 11.2% 0.8% 16.3% 19.6% 14.8% 21.6% 3.6% 11.5% 9.9% 5.9% 26.6% N/D 12.8% 15.6% -0.1%

2007 13.6% 9.3% -5.5% 14.7% 26.4% 6.5% 13.3% 9.6% 10.2% 19.4% 16.6% 17.6% 27.0% 3.6% 7.2% 6.3% 7.5% 29.1% N/D 12.1% 12.6% 4.6%

Prom 94 - 07 9.8% 6.8% 3.2% 11.1% 3.2% 9.5% 9.8% 6.1% 10.2% 13.9% N/D N/D N/D N/D 4.5% 7.8% 3.2% 10.9% 11.2% 5.2% 7.3% 3.0%

Prom 94-00 8.1% 6.4% 1.9% 9.3% -3.6% 9.4% 8.1% 2.7% 11.7% 12.5% N/D N/D N/D N/D 2.6% 8.6% 1.3% 8.6% 12.9% 6.4% 5.9% 4.8%

Prom 01-07 11.4% 7.2% 4.5% 13.0% 10.1% 9.5% 11.6% 9.4% 8.8% 15.2% 18.1% 16.2% 24.3% 3.6% 6.3% 7.1% 5.1% 13.2% N/D 4.1% 8.8% 1.3%



- 13 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Retorno sobre capital = utilidad neta / capital contable 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 0.3% 7.8% 11.9% 13.6% 1.9% 10.0% 0.7% 19.2% 13.3% -5.6% 16.7% 8.5% N/D N/D N/D N/D 12.6% 27.1% 3.9% 10.5% 5.5% 12.2% 13.4% 9.0% 10.4% 16.5% N/D N/D N/D N/D 7.3% 4.7% -27.7% 8.5% -12.7% 12.8% 11.6% 9.4% 10.7% 10.3% N/D N/D N/D N/D 10.1% 4.5% 20.9% 10.4% -2.5% 15.1% 11.9% 11.9% 12.2% 11.0% N/D N/D N/D N/D -8.1% 13.0% 3.6% 5.1% 20.9% -1.2% 5.5% -0.8% 10.0%

2001 9.1%

2002 6.7%

2003 8.0% 0.9% -1.8% 8.8% 2.6% 11.0% 10.2% 12.6% 13.2% 13.0% N/D N/D N/D N/D 3.1% 0.7% 1.5% -4.8%

2004 14.0% 6.1% 9.3% 12.4% 3.4% 15.8% 13.5% 15.9% 15.1% 16.0% N/D N/D N/D N/D 13.7% 10.8% 6.0% 15.0%

2005 16.0% 12.2% 20.7% 10.9% 1.6% 19.6% 12.9% 13.0% 11.9% 22.3% N/D N/D N/D N/D 12.6% 13.7% 7.6% 12.7%

2006 17.2% 10.9% 24.6% 11.2% 33.9% 16.3% 14.9% 18.6% -11.5% 25.9% 25.8% 21.2% 42.8% 4.2% 13.6% 9.5% 6.2% 23.8%

2007 18.6% 10.8% -54.7% 13.0% 40.7% 13.8% 18.6% 18.1% 9.2% 33.0% 22.9% 34.4% 47.3% 2.5% 8.4% 7.3% 7.6% 25.5% N/D 13.2% 8.5% -6.5%

Prom 94 - 07 10.7% 8.3% -3.4% 9.6% -3.5% 14.2% 12.3% 9.3% 9.6% 14.9% N/D N/D N/D N/D

Prom 94-00 8.6% 10.1% -5.2% 7.9% -8.0% 14.0% 11.7% 3.6% 11.4% 10.8% N/D N/D N/D N/D

Prom 01-07 12.8% 6.6% -1.6% 11.4% 1.1% 14.4% 13.0% 14.9% 7.8% 19.1% 24.4% 27.8% 45.1% 3.4% 2.3% 7.3% 4.8% 9.0% N/D -10.7% 8.3% -24.8%

5.1% 13.8% -22.9% -15.3% 0.9% 4.5% -27.2% -2.4% 12.1% 6.1% 1.6% 3.4% 5.7% N/D N/D N/D N/D 11.8% 13.7% -13.1% 14.4% 8.8% N/D N/D N/D N/D

1.7% 1.0% 4.4% 3.1% 0.6% -9.8% 10.7% 12.0% 11.3% -17.3% -38.9% -35.8% 14.6% 11.7% 11.9% 11.7% 15.0% N/D N/D N/D N/D 15.0% 10.6% 13.8% 14.9% 13.9% N/D N/D N/D N/D 9.6% 10.2% 12.3% 1.8% 9.4% N/D N/D N/D N/D -2.6% 3.8% 1.0% -5.2%

2.5% -2.3% 5.4% -43.8% -7.4% -4.5% 6.8% 9.0% 15.6% 5.2% -14.4% -57.7% -621.9% -201.8% -6.0% -4.7% 20.9% 13.7% 10.0% 4.2% -5.7% -9.3% -22.0% -29.8% 14.0% 15.9% 3.5% -9.9% 23.1% 15.7% 28.4% 15.3% 19.6% 11.3% 15.2% 9.3% 11.9% 2.7% 0.4% 7.5%

-11.4% -32.6% 7.4% 5.7% 3.4% 3.5% 5.4% -4.3%

-3.5% -9.3% 7.4% 7.5% -61.5% -127.8% 8.4% 7.8% 11.8% -3.9% 6.6% -14.0% 14.8% 3.0% 5.0% -3.2%

20.0% 21.7% -7.7% -9.5% 15.9% 17.7% N/D -14.3% -2.3% -30.7% -32.9% -23.6% -10.1% 11.4% 3.7% -5.0% -0.7% 1.7% 27.3% 11.3% 15.0% -14.2% -27.9% -13.1% 1.4% 0.3% -101.1% -26.8%



- 14 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Inversin / depreciacin del ejercicio 94 - 07 1994 1995 1996 1997 1998 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 3.3 6.1 17.6 4.0 14.1 3.1 4.1 3.0 0.5 2.3 N/D N/D N/D N/D 8.7 3.0 14.3 0.4 1.9 0.6 5.6 5.8 2.0 2.7 2.6 3.9 1.5 3.0 2.3 3.1 2.8 1.0 N/D N/D N/D N/D 2.9 2.5 1.2 1.3 3.2 0.2 2.9 1.5 2.1 1.9 -0.4 2.6 0.9 4.8 1.6 1.3 4.6 1.3 N/D N/D N/D N/D 2.4 2.3 2.4 3.0 5.7 1.2 1.8 0.6 1.5 0.9 1.1 2.5 0.5 1.5 0.9 -4.0 3.3 1.2 N/D N/D N/D N/D -8.3 2.2 2.5 5.8 1.2 1.4 2.7 3.5 2.0 3.5 0.9 1.9 2.1 2.0 2.0 3.4 2.4 0.8 N/D N/D N/D N/D 8.0 2.7 4.3 1.3 1.6 1.7 2.7 2.3

1999 1.7 2.2 -1.4 1.6 1.0 2.1 2.4 2.5 3.0 1.5 N/D N/D N/D N/D 0.9 1.4 0.5 5.4 1.3 0.6 1.1 4.1

2000 2.5 0.3 4.6 1.6 1.9 6.6 2.3 2.4 2.9 3.0 N/D N/D N/D N/D 0.7 1.8 4.7 -2.0 0.6 0.5 0.9 0.2

2001 1.6 0.3 -1.2 2.3 0.1 1.4 2.3 3.1 2.2 2.0 N/D N/D N/D N/D -2.4 1.0 1.1 0.7 1.0 -2.2 1.0 0.5

2002 1.5 1.9 0.4 1.4 0.2 2.6 2.1 3.2 1.0 1.7 N/D N/D N/D N/D -1.4 0.7 0.9 0.8 0.9 0.1 0.1 0.3

2003 1.5 -0.5 0.5 4.5 -0.9 1.7 2.1 2.7 2.2 1.3 N/D N/D N/D N/D 0.4 1.1 -0.1 0.6 0.0 0.0 0.4 0.1

2004 1.5 0.6 -0.6 2.7 0.7 2.2 2.3 2.9 1.6 1.6 N/D N/D N/D N/D 1.0 0.2 1.4 1.3 0.4 0.0 1.5 0.2

2005 1.6 1.9 4.3 1.3 0.2 3.6 3.2 3.6 0.4 1.6 N/D N/D N/D N/D 1.9 -0.8 2.5 1.8 0.6 -0.8 4.1 0.4

2006 1.8 1.2 2.9 1.7 -2.8 2.0 3.2 2.1 1.8 1.8 3.0 1.6 1.9 2.5 2.2 1.6 1.8 1.9 N/D 1.9 -0.7 -3.9

2007 2.8 1.2 0.0 1.6 2.2 10.3 4.9 2.4 3.1 1.7 2.6 1.6 1.7 1.5 3.3 1.7 1.8 1.7 N/D 7.0 1.3 0.3

Prom 94 - 07 2.0 1.7 2.2 2.4 1.6 3.4 2.5 2.2 2.3 1.6 N/D N/D N/D N/D 1.5 1.5 2.8 1.7 1.5 0.9 1.8 1.1

Prom 94-00 2.2 2.5 3.6 2.6 3.2 3.3 2.2 1.7 2.8 1.6 N/D N/D N/D N/D 2.2 2.3 4.3 2.2 2.2 0.9 2.5 2.6

Prom 01-07 1.8 0.9 0.9 2.2 0.0 3.4 2.9 2.8 1.8 1.7 2.8 1.6 1.8 2.0 0.7 0.8 1.3 1.3 N/D 0.8 1.1 -0.3



- 15 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Gastos de operacin / (costo de ventas + gastos de operacin) 94 - 07 1994 1995 1996 1997 1998 1999 2000 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 31% 32% 15% 43% 38% 20% 18% 32% 22% 80% N/D N/D N/D N/D 11% 22% 34% 20% 19% 15% 12% 19% 31% 32% 17% 39% 35% 19% 18% 35% 21% 79% N/D N/D N/D N/D 14% 20% 51% 20% 16% 14% 12% 15% 24% 30% 15% 37% 34% 19% 17% 33% 19% 38% N/D N/D N/D N/D 11% 22% 63% 21% 16% 13% 11% 14% 25% 31% 15% 37% 29% 18% 17% 31% 17% 47% N/D N/D N/D N/D 12% 21% 51% 21% 14% 13% 10% 18% 25% 34% 15% 38% 36% 19% 17% 31% 18% 46% N/D N/D N/D N/D 10% 18% 38% 22% 14% 20% 11% 21% 26% 31% 17% 39% 33% 20% 16% 33% 18% 41% N/D N/D N/D N/D 10% 17% 41% 22% 13% 21% 13% 19% 26% 32% 19% 42% 30% 20% 16% 34% 19% 41% N/D N/D N/D N/D 11% 17% 40% 11% 14% 20% 13% 20%

2001 27% 39% 20% 42% 30% 24% 16% 33% 19% 40% N/D N/D N/D N/D 15% 17% 35% 20% 13% 22% 17% 19%

2002 26% 39% 22% 41% 33% 27% 16% 34% 19% 32% N/D N/D N/D N/D 13% 17% 35% 22% 14% 21% 13% 15%

2003 25% 37% 21% 40% 32% 26% 17% 34% 20% 30% N/D N/D N/D N/D 12% 16% 36% 22% 15% 20% 11% 15%

2004 25% 36% 18% 39% 30% 26% 16% 33% 22% 30% N/D N/D N/D N/D 12% 15% 36% 19% 15% 17% 10% 13%

2005 26% 37% 15% 38% 28% 27% 16% 33% 23% 31% N/D N/D N/D N/D 11% 14% 37% 19% 15% 20% 9% 14%

2006 25% 37% 15% 38% 21% 24% 16% 35% 16% 31% 25% 28% 26% 89% 10% 16% 43% 15% N/D 15% 7% 15%

2007 24% 35% 19% 38% 20% 22% 15% 37% 14% 25% 27% 26% 24% 51% 11% 16% 43% 16% N/D 22% 6% 11%

Prom 94 - 07 26% 34% 17% 39% 31% 22% 17% 33% 19% 42% N/D N/D N/D N/D 12% 18% 42% 19% 15% 18% 11% 16%

Prom 94-00 27% 32% 16% 39% 34% 19% 17% 33% 19% 53% N/D N/D N/D N/D 11% 20% 45% 20% 15% 17% 12% 18%

Prom 01-07 25% 37% 18% 39% 28% 25% 16% 34% 19% 31% 26% 27% 25% 70% 12% 16% 38% 19% N/D 20% 10% 15%



- 16 (55)5807-6891 y (55)5272-4032


RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Depreciacin del ejercicio / ventas 94 - 07 1994 1995 1996 1997 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 5.6% 2.9% 2.6% 3.9% 3.7% 8.6% 1.7% 2.5% 3.0% 10.8% N/D N/D N/D N/D 5.0% 5.2% 5.6% 9.2% 5.4% 6.6% 7.6% 8.1% 6.6% 3.7% 4.7% 4.4% 4.3% 11.7% 2.2% 3.8% 2.0% 14.5% N/D N/D N/D N/D 7.9% 5.6% 8.3% 6.6% 4.4% 4.9% 8.1% 6.0% 6.6% 3.9% 3.5% 5.4% 4.4% 7.1% 2.2% 3.2% 1.8% 17.1% N/D N/D N/D N/D 7.0% 5.2% 8.4% 8.0% 5.1% 4.9% 7.7% 6.5% 6.6% 4.5% 4.6% 5.5% 5.3% 10.3% 2.1% 3.6% 1.7% 15.2% N/D N/D N/D N/D 6.1% 5.1% 7.5% 9.3% 6.1% 5.3% 6.3% 7.0%

1998 6.6% 4.6% 4.2% 5.2% 4.2% 8.4% 1.9% 2.3% 1.7% 16.0% N/D N/D N/D N/D 4.8% 5.2% 7.2% 10.9% 5.8% 5.7% 6.9% 7.0%

1999 7.9% 4.7% 17.1% 5.6% 4.5% 8.7% 2.0% 2.2% 1.8% 16.7% N/D N/D N/D N/D 5.9% 5.4% 7.4% 12.0% 6.0% 7.5% 7.6% 9.6%

2000 6.9% 6.4% 3.7% 5.6% 5.9% 8.2% 1.9% 2.3% 1.7% 15.0% N/D N/D N/D N/D 6.6% 4.5% 7.5% 3.5% 5.3% 8.2% 7.4% 9.1%

2001 8.0% 11.3% 2.3% 5.4% 5.4% 10.4% 1.9% 2.2% 1.9% 14.6% N/D N/D N/D N/D 7.2% 5.4% 7.3% 12.8% 5.7% 8.1% 8.0% 10.3%

2002 7.9% 4.7% 1.9% 5.8% 4.7% 8.7% 1.9% 2.2% 1.7% 15.5% N/D N/D N/D N/D 3.5% 5.5% 7.8% 13.8% 6.6% 16.4% 8.5% 9.8%

2003 8.1% 6.2% 2.6% 5.2% 3.7% 8.7% 1.9% 2.3% 1.7% 16.0% N/D N/D N/D N/D 3.6% 5.1% 7.3% 13.1% 6.6% 6.4% 7.5% 11.6%

2004 7.6% 3.7% 1.9% 5.1% 3.5% 8.2% 1.9% 2.1% 2.0% 14.5% N/D N/D N/D N/D 3.2% 4.6% 7.2% 9.3% 6.0% 6.6% 4.8% 10.1%

2005 6.9% 3.4% 1.3% 4.8% 3.5% 7.0% 1.9% 2.0% 1.9% 12.6% N/D N/D N/D N/D 3.0% 3.9% 6.4% 8.6% 5.7% 3.8% 2.6% 11.5%

2006 6.3% 3.6% 1.3% 5.4% 4.9% 6.6% 1.7% 2.5% 1.0% 12.7% 6.9% 14.2% 12.3% 9.0% 2.6% 3.8% 8.1% 6.0% N/D 3.8% 2.6% 6.6%

2007

Prom 94 - 07 7.0%

Prom 94-00 6.7% 4.4% 5.8% 5.1% 4.6% 9.0% 2.0% 2.8% 2.0% 15.0% N/D N/D N/D N/D 6.2% 5.2% 7.4% 8.5% 5.4% 6.2% 7.4% 7.6%

Prom 01-07 7.5% 5.2% 2.8% 5.2% 4.4% 8.1% 1.9% 2.3% 1.6% 14.2% 7.4% 14.1% 12.8% 12.8% 3.7% 4.6% 7.2% 9.9% N/D 7.1% 5.2% 8.9%

3.1% 8.8% 5.0% 4.7% 7.3% 1.9% 2.9% 1.1% 13.2% 7.9% 14.0% 13.3% 16.7% 2.6% 4.0% 6.7% 5.7% N/D 4.4% 2.2% 2.4%

4.8% 4.3% 5.2% 4.5% 8.6% 1.9% 2.6% 1.8% 14.6% N/D N/D N/D N/D 4.9% 4.9% 7.3% 9.2% 5.7% 6.6% 6.3% 8.2%



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RAZONES FINANCIERAS SECTORIALES EN MEXICONum. de empresas promedio Activo disponible / activo total 94 - 07 1994 1995 1996 1997 Total mercado Alimentos Autopartes Bebidas Bienes de consumo Cemento Comerciales autoservicio Comerciales departamentales Comerciales especializadas Comunicacin y transportes: Medios Telefona fija Telefona inalmbrica Transporte y otros Constructoras Conglomerados Hoteles y restaurantes Mineras Papel y celulosa Qumicas Siderrgicas Textiles 115 12 3 8 5 6 4 4 13 12 5 4 2 4 8 10 5 3 3 4 4 3 7.6% 7.3% 6.3% 8.1% 3.6% 5.5% 7.9% 4.4% 7.8% 9.1% N/D N/D N/D N/D 13.3% 7.7% 2.2% 10.9% 5.9% 5.6% 3.3% 3.1% 7.3% 7.1% 4.7% 6.8% 9.0% 4.2% 9.9% 6.8% 3.9% 8.5% N/D N/D N/D N/D 5.5% 7.1% 1.4% 23.2% 10.5% 7.4% 2.7% 2.9% 7.3% 8.5% 2.7% 7.5% 4.9% 4.2% 12.7% 6.9% 4.2% 9.2% N/D N/D N/D N/D 5.4% 6.8% 2.1% 20.0% 11.2% 3.8% 1.7% 3.6% 8.2% 16.6% 2.9% 7.3% 2.6% 3.5% 14.1% 5.2% 4.3% 9.6% N/D N/D N/D N/D 10.2% 6.6% 4.6% 14.4% 11.1% 4.1% 3.4% 3.7%

1998 7.9% 8.9% 3.2% 6.7% 1.9% 3.5% 13.6% 3.5% 8.1% 11.1% N/D N/D N/D N/D 11.9% 6.1% 3.8% 14.9% 10.0% 4.7% 2.2% 2.2%

1999 9.6% 11.9% 3.6% 8.2% 1.7% 4.4% 13.1% 3.3% 9.2% 14.8% N/D N/D N/D N/D 6.4% 7.1% 4.4% 2.8% 9.1% 4.7% 3.8% 1.6%

2000 8.0% 12.6% 4.2% 10.6% 5.2% 3.1% 14.4% 1.8% 4.3% 10.1% N/D N/D N/D N/D 7.1% 5.8% 2.1% 2.8% 7.3% 3.5% 4.9% 1.2%

2001 7.3% 4.0% 3.1% 14.9% 5.1% 4.4% 11.3% 2.7% 6.2% 7.8% N/D N/D N/D N/D 15.5% 5.8% 1.8% 4.3% 6.1% 7.0% 2.3% 2.0%

2002 8.5% 5.6% 4.4% 21.1% 7.7% 4.2% 9.9% 1.8% 9.8% 9.1% N/D N/D N/D N/D 15.5% 5.6% 2.8% 6.1% 4.7% 2.9% 2.5% 4.0%

2003 7.8% 5.2% 2.3% 10.3% 1.8% 4.4% 11.1% 3.1% 11.8% 9.1% N/D N/D N/D N/D 15.3% 4.4% 2.8% 6.2% 5.9% 4.1% 4.8% 2.5%

2004 8.7% 8.1% 2.8% 10.7% 1.2% 3.3% 10.6% 1.3% 16.0% 9.8% N/D N/D N/D N/D 13.0% 5.9% 2.7% 9.0% 7.2% 2.9% 4.5% 4.2%

2005 9.4% 8.6% 6.7% 10.3% 0.5% 3.1% 11.3% 1.6% 20.3% 8.7% N/D N/D N/D N/D 17.7% 13.1% 3.4% 10.8% 6.3% 2.4% 2.8% 2.5%

2006 10.6% 9.6% 7.0% 11.3% 7.5% 5.6% 10.3% 21.2% 6.6% 9.6% 17.8% 6.1% 12.8% 8.7% 16.9% 11.7% 3.9% 16.2% N/D 3.8% 8.6% 1.3%

2007 9.4% 7.0% 0.2% 11.3% 11.7% 2.3% 6.7% 25.7% 7.4% 7.5% 22.3% 6.1% 3.4% 9.7% 14.2% 12.8% 3.1% 18.1% N/D 6.3% 27.0% 0.3%

Prom 94 - 07 8.4% 8.7% 3.9% 10.4% 4.6% 4.0% 11.2% 6.4% 8.6% 9.6% N/D N/D N/D N/D 12.0% 7.6% 2.9% 11.4% 7.9% 4.5% 5.3% 2.5%

Prom 94-00 8.0% 10.4% 3.9% 7.9% 4.1% 4.0% 12.3% 4.6% 6.0% 10.3% N/D N/D N/D N/D 8.5% 6.7% 2.9% 12.7% 9.3% 4.8% 3.1% 2.6%

Prom 01-07 8.8% 6.9% 3.8% 12.8% 5.1% 3.9% 10.2% 8.2% 11.2% 8.8% 20.0% 6.1% 8.1% 9.2% 15.4% 8.5% 2.9% 10.1% N/D 4.2% 7.5% 2.4%



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Razones Financier As Mexico

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