CX vs FIVN: How Cemex and Five9 Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: FIVN is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CX and FIVN share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CX and FIVN exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Cemex (NYSE: CX) is a global building-materials company that makes and sells cement, ready-mix concrete, and aggregates (crushed stone, sand, and gravel), along with related urbanization and infrastructure products. It operates across five reportable segments (Mexico, the United States, Europe, the Middle East and Africa, and South, Central America and the Caribbean), with the US and Mexico together accounting for roughly 60% of 2025 revenue. The US-listed security is an ADR representing the underlying Mexican shares; the company is one of the largest cement producers in the world alongside Holcim, Heidelberg Materials, and CRH.

Full CX guide

Five9 sells contact center software as a service, usually shortened to CCaaS. Instead of a company buying phone hardware and dialer systems for its support floor, it rents Five9's cloud platform, which routes calls, chats, emails, SMS and social messages to agents, records and scores those interactions, handles workforce scheduling, and increasingly answers routine contacts with automated voice and chat agents before a human is involved. Customers are mid-market and enterprise operations with anywhere from dozens to tens of thousands of seats, in industries like healthcare, financial services, retail and outsourced customer support. Revenue has historically been billed per agent seat per month, with usage-based telephony and, more recently, consumption-based AI charges layered on top.

Full FIVN guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CX drivers: US aggregates and infrastructure tilt; Margin self-help and efficiency programs.
• FIVN drivers: AI revenue outrunning seat pressure; Subscription reacceleration and enterprise mix.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Cemex is a deeply cyclical business whose demand swings with construction and infrastructure spending, so a downturn or higher-for-longer interest rates could pressure volumes and pricing. For FIVN, the core risk is structural: if AI agents resolve a rising share of customer contacts, companies need fewer human agents, and Five9's per-seat pricing shrinks with them, so the AI products have to grow faster than the seat base declines.

Pick CX if you believe its drivers more; FIVN if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CX and FIVN guides.

CX. Cemex trades around $12 per ADR with a trailing P/E in the high 30s but a forward P/E near 18, reflecting expectations of rising earnings as efficiency programs and US aggregates flow through. Full-year 2025 revenue was roughly flat versus 2024, but adjusted profitability improved sharply on cost savings and pricing. Figures are approximate and based on 2025 filings and Q1 2026 results.

FIVN. At roughly $2.2 billion of market value against about $1.27 billion of guided 2026 revenue, Five9 trades under about 2x sales, a level far below where cloud software with low-teens growth and positive free cash flow normally sits. The gap between a trailing GAAP price-to-earnings ratio near 44x and roughly 9x the midpoint of non-GAAP earnings guidance is almost entirely stock-based compensation, so the two framings tell very different stories. Cash and marketable investments of roughly $724 million as of the first quarter partially offset about $650 million of convertible notes due 2029.

Headline figures (approximate, July 2026): CX shows revenue (2025 fy) ~$16.1B, revenue (q1 2026, yoy) ~$4.0B (+11%), ebitda (q1 2026) ~$794M (+34%), adjusted net income (2025) ~$1.5B; FIVN shows revenue (ttm) ~$1.23 billion, q2 2026 revenue ~$312 million, up ~10% year over year, fy2026 revenue guidance ~$1.26 billion to ~$1.272 billion, fy2026 non-gaap eps guidance ~$3.22 to ~$3.30.

CX and FIVN are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CX and FIVN exposure against your real portfolio. It is not an investment adviser.