The corn dough and tortilla industry faces several problems, especially in the corn input that has undergone constant price fluctuations. Therefore, the aim of this study was to economically evaluate the corn dough and tortilla industry in the State of Mexico to determine its profitability. The investment project evaluation method was used to obtain financial indicators such as the Net Present Value (NPV), the Internal Rate of Return (IRR) and the Benefit Cost Ratio (BCR). The information was obtained during 2015 by means of a survey of 367 mills and tortillerías (tortilla shops) in the state. The analysis was divided by type of establishment, main raw material used in the production process and size of the establishment. According to the results, the most profitable tortillerías are the ones that use
corn and nixtamalized flour as raw material. It was also found that large and medium-sized
companies are more profitable than small ones. In conclusion, small tortillerías are the most
sensitive to variations in corn prices.