Is TBBB a good stock to buy? We found a bullish thesis on BBB Foods Inc. on Superflare’s Valueinvestorsclub.com. In this article we will summarize the bulls’ thesis on TBBB. BBB Foods Inc. stock was trading at $36.74 on May 25.th. TBBB’s trailing and forward P/E were 131.38 and 163.93 respectively, according to Yahoo Finance.
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Tiendas 3B (TBBB) operates a leading discount supermarket model in Mexico, built around ultra-low cost execution, strict SKU management and high private label penetration of 54% in 2024. The company focuses on household staples, including toiletries, beverages, cleaning supplies, grains and dairy, sold through small format stores of 300 to 450 square meters with minimal staff and simplified bulk packaging.
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This agile structure, combined with centralized procurement and single-SKU purchasing at scale, enables industry-leading supplier pricing, negative working capital of approximately 45 days, and logistics costs of only 2-3% of revenue versus ~5% for peers such as Walmex, Chedraui and Soriana. With more than 3,162 stores as of the third quarter of 2025 and an expansion pace of 500 to 600 new stores per year, TBBB is still in an early stage of its penetration into a market that is estimated to support up to 12,000 stores or more, implying a multi-year runway for sustained unit growth and geographic expansion beyond its current regional concentration in Mexico.
The investment case is based on the structural underpenetration of deep discount retail in Mexico, which currently represents only ~3% of the formal grocery market, compared to between 15% and 30% in more mature markets. TBBB already demonstrates superior pricing power, offering prices 20% to 30% lower than traditional ones, while maintaining strong supplier relationships and efficient procurement economics.
Its simplified operating model, with just 346 suppliers to Walmex’s more than 31,000, reinforces a lasting cost advantage that competitors would struggle to replicate without structural reinvention. Store maturation, combined with revenue CAGR potential among teens and early 20s, supports long-term earnings capitalization.
Financially, mature EBIT margins are expected to expand by 5% to 6% from the current ~3%, supported by benefits of scale, regional padding and operating leverage, with some mature regions already exceeding 7% margins. The company’s negative working capital model and stores’ return on investment in approximately 3 years allows for fully self-funded expansion with annual store growth of approximately 20%. At ~$33/share, the stock is valued at ~24x EPS due 2026, with an implied IRR of ~23% and upside potential driven by continued expansion, margin normalization, and rerating vs. deep discount global peers.