Betterware
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Betterware (BWMX) investor relations material

Betterware Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved 1.2% year-over-year revenue growth in Q4 and full year 2025, demonstrating resilience amid macroeconomic volatility and soft consumption trends.

  • EBITDA margin remained strong at 19% for Q4 and 18.7% for the year, though impacted by Q1 contraction, FX effects, and temporary gross margin impacts.

  • Free cash flow surged, with over 83% of EBITDA converted to cash and year-over-year increases driven by inventory optimization.

  • Strategic pillars advanced: leadership in Mexico, regional expansion, new brands/categories, digital transformation, and financial discipline.

  • Completion of the Tupperware Latam acquisition for $250 million is expected in Q2 2026, anticipated to be accretive and expand presence in Brazil.

Financial highlights

  • Q4 and full-year 2025 net revenue grew 1.2% year-over-year; Q4 EBITDA margin at 19%, full-year at 18.7%.

  • Free cash flow increased 24.6% for the year, with 83% EBITDA conversion.

  • Net debt to EBITDA improved to 1.56x at year-end 2025.

  • 24 consecutive quarters of dividend payments, with a 32% dividend-to-EBITDA ratio.

  • Q4 net income increased 10.9% YoY to Ps. 249.9 million; FY net income up 46.5% to Ps. 1,042.8 million.

Outlook and guidance

  • FY 2026 revenue guidance: 4%-8% growth, with EBITDA margin expected at least 19%.

  • Guidance excludes Tupperware Latam acquisition, which will be updated post-closing.

  • Anticipate normalized cash flow generation, with growth driven by top-line and profitability.

  • Strategic pillars for 2025–2030 include consolidating Mexico leadership, regional expansion, new brands, digital transformation, and financial discipline.

When will Tupperware Latam's 2026 guidance be updated?
What drives 2026 margin normalization?
How will cash conversion normalize post-inventory?
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Frequently asked questions

Betterware de Mexico, S.A.B. de C.V., develops and markets products for home, beauty, pets, kitchen, personal care and food products through an independent sales force in Mexico. The company provides homeware, kitchenware, and housewares products. It also provides cleaning, storage and organization, home decor, laundry and garment care, pet care, healthcare, personal care, and baby products; as well as kitchenware, dining ware and tabletop products. Betterware de Mexico sells its products direct-to-consumer through catalog orders placed with sales representatives. Betterware de Mexico sells its products directly to consumers through catalogs and in-home presentations.

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