AMERICA MOVIL SAB DE CV/ (AMX) Company Report

Analyst Coverage

Research analysts who have asked questions during AMERICA MOVIL SAB DE CV/ earnings calls.

Marcelo Santos

JPMorgan Chase & Co.

7 questions for AMX

Also covers: AFYA, LAUR, MELI +9 more

Lucca Brendim

Bank of America

5 questions for AMX

Also covers: TIMB, TV, VIV +1 more

Phani Kumar Kanumuri

HSBC

5 questions for AMX

Also covers: DAVA, TIGO, TIMB +2 more

Vitor Tomita

Goldman Sachs Group Inc.

5 questions for AMX

Also covers: CINT, LILA, TIMB +4 more

Walter Piecyk

LightShed Partners

5 questions for AMX

Also covers: CCOI, GSAT, IRDM +6 more

Gustavo Farias

UBS Group AG

4 questions for AMX

Also covers: CINT, TIGO, TIMB +5 more

Alejandro Azar Wabi

GBM

3 questions for AMX

Also covers: TV

Carlos Antonio de Legarreta Diaz

Itaú BBA

3 questions for AMX

Also covers: TV, VIV

Cesar Medina

Morgan Stanley

2 questions for AMX

Also covers: VTEX

Emilio Fuentes

GBM

2 questions for AMX

Also covers: TV

Ernesto Gonzalez

Morgan Stanley

2 questions for AMX

Also covers: CINT, TEO, TV

Gustavo Faria

Bank of America

2 questions for AMX

Also covers: EBR, PAM

Valeria Miranda Reyes

GBM

2 questions for AMX

Alejandro Lavin

Santander

1 question for AMX

Also covers: BP

Andres Coello

Scotiabank

1 question for AMX

Also covers: TIGO

Camila Koga

Bradesco BBI

1 question for AMX

Also covers: VIV

Carlos Sequeira

BTG Pactual

1 question for AMX

Juan Cruz

Morgan Stanley

1 question for AMX

Leonardo Olmos

UBS Group AG

1 question for AMX

Also covers: CINT, GLOB, TIGO +4 more

Milenna Okamura

Goldman Sachs

1 question for AMX

Also covers: TV

Latest news

Recent press releases and 8-K filings for AMX.

América Móvil Announces Q4 2025 Financial and Operating Results

AMX

Earnings

New Projects/Investments

América Móvil reported Q4 2025 revenue of 245 billion Mexican pesos, an increase of 3.4% in Mexican peso terms, and EBITDA of 94.9 billion Mexican pesos, up 4.2%.
Net income for the quarter totaled 19.1 billion Mexican pesos, resulting in earnings per share of 0.32 Mexican pesos.
The company added 2.5 million wireless subscribers and connected 524 thousand broadband accesses in Q4 2025.
Free cash flow increased by 39.4% year-on-year, and net debt was reduced by 20 billion pesos in cash flow terms, with net debt (excluding leases) standing at 448 billion pesos at the end of December 2025.
Strategic developments include the launch of 5G services in Ecuador and Costa Rica and A1 Serbia securing 5G spectrum in November 2025.

Feb 12, 2026, 9:55 PM

6-K

América Móvil Reports Strong Q4 2025 Results with Significant Subscriber Growth and Free Cash Flow Increase

AMX

Earnings

Guidance Update

M&A

América Móvil reported robust Q4 2025 financial performance, with revenue increasing 6.2% and EBITDA growing 6.9% at constant exchange rates, resulting in a net profit of MXN 19 billion, which was four times larger than the prior year.
The company added 2.5 million wireless subscribers in Q4 2025, including 2.8 million postpaid net gains, bringing the total wireless subscribers to 331 million by December.
For the full year 2025, América Móvil generated MXN 82 billion in free cash flow, representing a nearly 40% year-on-year increase, and reduced its net debt by MXN 20 billion.
The CapEx target for 2026 and the subsequent 2-3 years is set at 14%-15% of revenues, estimated to be around $6.8 billion to $7.1 billion.
Capital allocation priorities include reducing net debt to a target ratio of 1.3-1.5 times debt to EBITDA, pursuing M&A opportunities within its operating regions, and returning capital to shareholders through buybacks and dividends.

Feb 11, 2026, 3:00 PM

Transcript

América Móvil Reports Strong Q4 2025 Results and Outlines Capital Allocation Strategy

AMX

Earnings

Guidance Update

Share Buyback

América Móvil reported a net profit of MXN 19 billion in Q4 2025, which was four times larger than the prior year, with revenue up 3.4% to MXN 245 billion and EBITDA up 4.2% in Mexican peso terms.
The company added 2.5 million wireless subscribers in Q4 2025, including 2.8 million postpaid net gains, ending December with 331 million wireless subscribers. Fixed broadband accesses also expanded 5.6%.
For FY 2025, operating cash flow was MXN 213 billion, and free cash flow increased by nearly 40% year-on-year to MXN 82 billion. Shareholder distributions totaled MXN 45 billion, including MXN 12 billion in share buybacks.
América Móvil aims to reduce its net debt to EBIT after leases ratio from 1.52x towards its target of 1.3-1.5x, utilizing excess cash flow for debt reduction and preparing for regional M&A opportunities.
The company anticipates CapEx to be around 14%-15% of revenues (approximately $6.8 billion-$7.1 billion) for 2026 and the next 2-3 years, and expects further market consolidation across Latin America.

Feb 11, 2026, 3:00 PM

Transcript

América Móvil Reports Strong Q4 2025 Results and Outlines Capital Allocation Strategy

AMX

Earnings

M&A

Guidance Update

América Móvil reported Q4 2025 revenue of MXN 245 billion, an increase of 3.4% (6.2% at constant exchange rates), and EBITDA of MXN 95 billion, up 4.2% (6.9% at constant exchange rates). Net profit for the quarter was MXN 19 billion, which was four times larger than the prior year.
The company added 2.5 million wireless subscribers in Q4 2025, including 2.8 million postpaid net gains, bringing the total to 331 million wireless subscribers. Full-year 2025 free cash flow increased by nearly 40% year-on-year to MXN 82 billion.
América Móvil targets CapEx for 2026 and the next two to three years to be around 14%-15% of revenues, approximately $6.8 billion to $7.1 billion.
The capital allocation strategy focuses on reducing net debt (currently slightly above the 1.5x net debt to EBITDA target), returning capital to shareholders through buybacks and dividends, and preparing for M&A opportunities within its operating regions. The company decided against bidding for Telefónica's Chilean operations due to regulatory and financial complexities.

Feb 11, 2026, 3:00 PM

Transcript

América Móvil completes senior notes issuance

AMX

Debt Issuance

América Móvil, S.A.B. de C.V. has issued Ps.3,500,000,000 aggregate principal amount of 10.125% Senior Notes due 2029 and Ps.6,500,000,000 aggregate principal amount of 10.300% Senior Notes due 2034.
The 10.125% Senior Notes due 2029 have a maturity date of January 22, 2029, with interest payable semi-annually from July 22, 2025. The 10.300% Senior Notes due 2034 have a maturity date of January 30, 2034, with interest payable semi-annually from July 30, 2025.
These issuances increase the total aggregate principal amount for the 2029 Notes series to Ps.27,000,000,000 and for the 2034 Notes series to Ps.30,000,000,000.
The settlement date for these notes was November 25, 2025.
The notes will be listed on the Mexican Stock Exchange under ticker symbols AMX 0129 for the 2029 Securities and AMX 0134X for the 2034 Securities, with an application also made for listing on the Luxembourg Stock Exchange Euro MTF Market.

Nov 26, 2025, 1:53 AM

6-K

América Móvil Reports Strong Net Profit Growth and Strategic Financial Activities for Q3 2025

AMX

Earnings

Debt Issuance

M&A

América Móvil reported a 207.4% increase in net profit for the first nine months of 2025, reaching Ps. 67,736 million, with operating revenues growing to Ps. 698,741 million.
The company recorded a net foreign currency exchange gain of Ps. 16.1 billion for the first nine months of 2025, a significant improvement from a Ps. 58.4 billion loss in the prior year, driven by the appreciation of the Mexican peso against the U.S. dollar.
Shareholders approved a dividend of Ps. 0.52 per share and the establishment of a Ps. 10 billion share buyback fund.
Strategic financial activities included the issuance of a US$500 million bond and a 650 million euro bond in June and September 2025, respectively.
The company also acquired 100% of Claro Chile SpA in July 2025.

Nov 14, 2025, 9:59 PM

6-K

América Móvil Announces Q3 2025 Financial and Operating Results

AMX

Earnings

Revenue Acceleration/Inflection

Share Buyback

América Móvil reported total revenues of 232.9 billion Mexican pesos for the third quarter of 2025, representing a 4.2% increase in Mexican peso terms and 6.2% at constant exchange rates.
EBITDA for Q3 2025 reached 93.8 billion Mexican pesos, up 4.9% in Mexican peso terms and 6.8% at constant exchange rates, with an EBITDA margin of 40.3%.
The company's net income for the quarter totaled 22.7 billion Mexican pesos, resulting in Earnings per Share of 0.38 Mexican pesos and Earnings per ADR of 0.40 US dollars.
Operationally, América Móvil added over three million postpaid clients and 526 thousand broadband accesses during the third quarter of 2025.
For the nine months ending September 2025, free cash flow increased 47.0% year-on-year to 53.0 billion Mexican pesos, which supported 28.6 billion pesos in shareholder distributions (including 10.8 billion pesos in share buybacks) and a 15.7 billion pesos reduction in net debt.

Oct 16, 2025, 9:12 PM

6-K

América Móvil Reports Strong Q3 2025 Financial and Operational Results

AMX

Earnings

M&A

Share Buyback

América Móvil reported Q3 2025 revenue of $233 billion pesos, increasing 4.2% in Mexican peso terms and 6.2% at constant exchange rates, with EBITDA reaching $94 billion pesos, up 4.9% in Mexican peso terms.
The company's net income surged to $23 billion pesos, equivalent to $0.38 per share, and it generated $53 billion pesos in free cash flow, marking a 47% increase year-on-year.
Operationally, América Móvil added over 3 million postpaid clients and 536,000 broadband accesses during Q3 2025, bringing total accesses to 408 million.
Mobile service revenue grew 7.1%, with postpaid revenue climbing 9.1% and prepaid revenue expanding 3.9%, while fixed-line service revenue decelerated to 4.7%.
The company is evaluating potential acquisitions, including a joint bid for Telefónica's assets in Chile and Desktop in Brazil, and distributed $29 billion pesos to shareholders, including $11 billion pesos in share buybacks.

Oct 15, 2025, 3:00 PM

Transcript

América Móvil and Entel to Explore Joint Bid for Telefónica's Chilean Assets

AMX

M&A

New Projects/Investments

América Móvil (AMX) and Empresa Nacional de Telecomunicaciones S.A. (ENTEL) signed a non-binding agreement on October 6, 2025, to jointly explore a potential offer to acquire Telefónica S.A.'s Chilean assets.
The collaboration aims to strengthen the telecommunications sector's competitiveness in Chile, enabling increased investment in high-speed networks and coverage, and promoting digitalization through more efficient asset utilization.
Any potential offer and subsequent transaction are contingent upon obtaining necessary corporate approvals and regulatory authorizations, including from the National Economic Prosecutor's Office of Chile.

Oct 7, 2025, 10:03 AM

6-K

AMÉRICA MÓVIL Reports Q2 2025 Financial and Operational Results

AMX

Earnings

Share Buyback

Revenue Acceleration/Inflection

AMÉRICA MÓVIL reported a net profit of Ps. 43.3 billion for the first six months of 2025, an increase of three times compared to the same period in 2024.
Total operating revenues for the first six months of 2025 increased by 13.9%, or Ps. 57.0 billion, over the first six months of 2024.
As of June 30, 2025, the company had 325.7 million wireless voice and data subscriptions and 78.5 million fixed RGUs, totaling 404.1 million RGUs.
Net debt stood at Ps. 472.0 billion as of June 30, 2025.
The company spent Ps. 8.7 billion on share repurchases during the first six months of 2025.