Cemex

Based in Monterrey, Cemex is widely regarded as one of Mexico's flagship materials operators. Its scale — about 44k people, around $17B in turnover — translates into genuine strategic weight across North America.

Long-term partnerships with sovereign and institutional investors give the company unusual visibility on multi-year demand.

“Cemex is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Few catalysts on the horizon look bearish; the central scenario is a continued, controlled compounding story.