Major Estimate Revision • Aug 14
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Mex$0.39 to Mex$0.438. Revenue forecast steady at Mex$14.5b. Net income forecast to grow 44% next year vs 44% growth forecast for Telecom industry in Mexico. Consensus price target up from Mex$20.17 to Mex$21.00. Share price fell 3.5% to Mex$16.59 over the past week. Reported Earnings • Jul 27
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: Mex$0.19 (up from Mex$0.12 in 2Q 2025). Revenue: Mex$3.62b (up 3.5% from 2Q 2025). Net income: Mex$372.1m (up 60% from 2Q 2025). Profit margin: 10% (up from 6.6% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 23%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 26
Price target decreased by 7.0% to Mex$19.83 Down from Mex$21.33, the current price target is an average from 3 analysts. New target price is 16% above last closing price of Mex$17.06. Stock is down 15% over the past year. The company is forecast to post earnings per share of Mex$0.58 for next year compared to Mex$0.22 last year. Major Estimate Revision • May 26
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from Mex$0.483 to Mex$0.581. Revenue forecast steady at Mex$14.5b. Net income forecast to grow 112% next year vs 112% growth forecast for Telecom industry in Mexico. Consensus price target down from Mex$21.33 to Mex$19.83. Share price was steady at Mex$17.06 over the past week. Declared Dividend • May 25
Dividend of Mex$0.50 announced Dividend of Mex$0.50 is the same as last year. Ex-date: 28th May 2026 Payment date: 29th May 2026 Dividend yield will be 2.9%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (275% earnings payout ratio). However, it is well covered by cash flows (15% cash payout ratio). The dividend has increased by an average of 1.0% per year over the past 4 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 206% to bring the payout ratio under control. EPS is expected to grow by 36% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annonce • Apr 16
Operadora de Sites Mexicanos, S.A.B. de C.V., Annual General Meeting, Apr 30, 2026 Operadora de Sites Mexicanos, S.A.B. de C.V., Annual General Meeting, Apr 30, 2026. Location: paseo de las palmas no 781, 7th floor offices 703 704, colonia lomas de chapultepec iii section, miguel hidalgo borough, zip code 11000, mexico Mexico Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Mex$17.13, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 15x in the Telecom industry in South America. Total returns to shareholders of 4.4% over the past three years. Annonce • Mar 23
Operadora de Sites Mexicanos, S.A.B. de C.V.(BMV:SITES1 A-1) dropped from FTSE All-World Index (USD) Operadora de Sites Mexicanos, S.A.B. de C.V.(BMV:SITES1 A-1) dropped from FTSE All-World Index (USD) Reported Earnings • Feb 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: Mex$0.42 (up from Mex$0.11 in FY 2024). Revenue: Mex$13.9b (up 5.7% from FY 2024). Net income: Mex$661.3m (up 94% from FY 2024). Profit margin: 4.7% (up from 2.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 06
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Mex$0.47 to Mex$0.335 per share. Revenue forecast steady at Mex$13.8b. Net income forecast to grow 244% next year vs 50% growth forecast for Telecom industry in Mexico. Consensus price target of Mex$19.67 unchanged from last update. Share price fell 2.1% to Mex$16.70 over the past week. Reported Earnings • Oct 28
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: Mex$0.12 (up from Mex$0.066 in 3Q 2024). Revenue: Mex$3.48b (up 3.0% from 3Q 2024). Net income: Mex$210.1m (flat on 3Q 2024). Profit margin: 6.0% (down from 6.2% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 26
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from Mex$0.591 to Mex$0.47 per share. Revenue forecast steady at Mex$13.9b. Net income forecast to grow 228% next year vs 29% growth forecast for Telecom industry in Mexico. Consensus price target up from Mex$19.00 to Mex$20.00. Share price fell 3.0% to Mex$16.35 over the past week. Reported Earnings • Jul 25
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: Mex$0.12 (up from Mex$0.07 in 2Q 2024). Revenue: Mex$3.50b (up 7.7% from 2Q 2024). Net income: Mex$232.2m (up 4.1% from 2Q 2024). Profit margin: 6.6% (down from 6.9% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 02
Price target increased by 12% to Mex$19.00 Up from Mex$17.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of Mex$18.62. Stock is up 11% over the past year. The company is forecast to post earnings per share of Mex$0.59 for next year compared to Mex$0.11 last year. Declared Dividend • May 25
Dividend of Mex$0.50 announced Dividend of Mex$0.50 is the same as last year. Ex-date: 29th May 2025 Payment date: 30th May 2025 Dividend yield will be 2.4%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (268% earnings payout ratio). However, it is well covered by cash flows (15% cash payout ratio). The dividend has increased by an average of 1.4% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 198% to bring the payout ratio under control. EPS is expected to grow by 187% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Annonce • May 23
Operadora de Sites Mexicanos, S.A.B. de C.V. announces Annual dividend, payable on May 30, 2025 Operadora de Sites Mexicanos, S.A.B. de C.V. announced Annual dividend of MXN 0.5000 per share payable on May 30, 2025, ex-date on May 29, 2025 and record date on May 29, 2025. Reported Earnings • Apr 29
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: Mex$0.12 (up from Mex$0.006 loss in 1Q 2024). Revenue: Mex$3.45b (up 6.9% from 1Q 2024). Net income: Mex$215.2m (up Mex$235.5m from 1Q 2024). Profit margin: 6.2% (up from net loss in 1Q 2024). Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Telecom industry in South America. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 24
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from Mex$0.533 to Mex$0.586. Revenue forecast steady at Mex$13.5b. Net income forecast to grow 369% next year vs 4.7% growth forecast for Telecom industry in Mexico. Consensus price target of Mex$16.83 unchanged from last update. Share price rose 5.5% to Mex$18.34 over the past week. Annonce • Apr 14
Operadora de Sites Mexicanos, S.A.B. de C.V., Annual General Meeting, Apr 30, 2025 Operadora de Sites Mexicanos, S.A.B. de C.V., Annual General Meeting, Apr 30, 2025. Location: paseo de las palmas no 781, 7th floor offices 703 704, colonia lomas de chapultepec iii section, miguel hidalgo borough, zip code 11000, mexico Mexico Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Mex$14.0b to Mex$13.5b. EPS estimate also fell from Mex$0.678 per share to Mex$0.533 per share. Net income forecast to grow 369% next year vs 14% growth forecast for Telecom industry in Mexico. Consensus price target broadly unchanged at Mex$18.10. Share price fell 9.0% to Mex$8.97 over the past week. Reported Earnings • Feb 02
Full year 2024 earnings released: EPS: Mex$0.11 (vs Mex$0.13 in FY 2023) Full year 2024 results: EPS: Mex$0.11 (down from Mex$0.13 in FY 2023). Revenue: Mex$13.0b (up 9.3% from FY 2023). Net income: Mex$346.9m (down 19% from FY 2023). Profit margin: 2.7% (down from 3.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Telecom industry in South America. New Risk • Jan 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 4.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (4.7% average weekly change). Minor Risk Dividend is not well covered by earnings (256% payout ratio). Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Mex$12.93, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 10x in the Telecom industry in South America. Total loss to shareholders of 37% over the past year. Major Estimate Revision • Nov 01
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from Mex$0.43 to Mex$0.28 per share. Revenue forecast steady at Mex$13.1b. Net income forecast to grow 183% next year vs 15% growth forecast for Telecom industry in Mexico. Consensus price target up from Mex$19.17 to Mex$19.93. Share price was steady at Mex$17.63 over the past week. Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: Mex$0.11 (up from Mex$0.027 in 3Q 2023). Revenue: Mex$3.38b (up 13% from 3Q 2023). Net income: Mex$208.7m (up 145% from 3Q 2023). Profit margin: 6.2% (up from 2.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Telecom industry in South America. Reported Earnings • Jul 26
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: Mex$0.04. Revenue: Mex$3.25b (up 10% from 2Q 2023). Net income: Mex$223.0m (up 37% from 2Q 2023). Profit margin: 6.9% (up from 5.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 67%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Telecom industry in South America. Buy Or Sell Opportunity • May 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to Mex$19.61. The fair value is estimated to be Mex$24.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 427% in the next 2 years. Reported Earnings • May 03
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: Mex$0.13 (up from Mex$0.071 loss in FY 2022). Revenue: Mex$11.9b (up 11% from FY 2022). Net income: Mex$425.6m (up Mex$654.7m from FY 2022). Profit margin: 3.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 87%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Telecom industry in South America. Major Estimate Revision • May 03
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from Mex$12.7b to Mex$12.9b. EPS estimate increased from Mex$0.335 to Mex$0.378 per share. Net income forecast to grow 194% next year vs 10% growth forecast for Telecom industry in Mexico. Consensus price target broadly unchanged at Mex$19.47. Share price rose 5.3% to Mex$20.56 over the past week. Reported Earnings • Feb 22
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: Mex$0.13 (up from Mex$0.071 loss in FY 2022). Revenue: Mex$11.9b (up 11% from FY 2022). Net income: Mex$410.1m (up Mex$639.3m from FY 2022). Profit margin: 3.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 87%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Telecom industry in South America. New Risk • Jan 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Mexican stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Dividend is not well covered by earnings (dividend per share is over 34x earnings per share). Share price has been volatile over the past 3 months (5.5% average weekly change). Price Target Changed • Jan 05
Price target increased by 9.9% to Mex$19.35 Up from Mex$17.60, the current price target is an average from 4 analysts. New target price is 14% below last closing price of Mex$22.46. Stock is down 0.4% over the past year. The company is forecast to post earnings per share of Mex$0.13 next year compared to a net loss per share of Mex$0.071 last year. Major Estimate Revision • Dec 13
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from Mex$0.15 to Mex$0.134 per share. Revenue forecast steady at Mex$11.7b. Net income forecast to grow 2,000% next year vs 24% growth forecast for Telecom industry in Mexico. Consensus price target up from Mex$17.60 to Mex$18.35. Share price was steady at Mex$22.65 over the past week. New Risk • Oct 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risk Dividend is not well covered by earnings (dividend per share is over 34x earnings per share). Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: Mex$0.06 (up from Mex$0.012 loss in 3Q 2022). Revenue: Mex$2.99b (up 12% from 3Q 2022). Net income: Mex$85.3m (up Mex$123.8m from 3Q 2022). Profit margin: 2.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.4%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Telecom industry in South America. Price Target Changed • Sep 15
Price target decreased by 8.3% to Mex$17.58 Down from Mex$19.18, the current price target is an average from 5 analysts. New target price is 8.9% above last closing price of Mex$16.14. Stock is down 12% over the past year. The company is forecast to post earnings per share of Mex$0.18 next year compared to a net loss per share of Mex$0.071 last year. Buying Opportunity • Sep 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.2%. The fair value is estimated to be Mex$20.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 25
Now 20% undervalued Over the last 90 days, the stock is up 9.9%. The fair value is estimated to be Mex$20.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Aug 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.8%. The fair value is estimated to be Mex$20.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 31
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: Mex$0.08 (up from Mex$0.005 in 2Q 2022). Revenue: Mex$2.95b (up 7.2% from 2Q 2022). Net income: Mex$162.3m (up Mex$145.2m from 2Q 2022). Profit margin: 5.5% (up from 0.6% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 135%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Telecom industry in South America. Major Estimate Revision • May 10
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from Mex$11.6b to Mex$11.8b. EPS estimate increased from Mex$0.156 to Mex$0.187 per share. Net income forecast to grow 470% next year vs 46% growth forecast for Telecom industry in Mexico. Consensus price target of Mex$19.70 unchanged from last update. Share price was steady at Mex$16.71 over the past week. Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 58% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from Mex$0.362 to Mex$0.152 per share. Revenue forecast steady at Mex$11.6b. Net income forecast to grow 365% next year vs 73% growth forecast for Telecom industry in Mexico. Consensus price target of Mex$20.74 unchanged from last update. Share price was steady at Mex$17.75 over the past week. Buying Opportunity • Jan 17
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be Mex$27.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 19%. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Director Daniel Diaz Diaz was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Aug 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 forecast for profit of -Mex$0.04 instead of a loss of Mex$0.02 per share previously. Revenue forecast unchanged at Mex$10.4b. Telecom industry in Mexico expected to see average net income decline 6.6% next year. Consensus price target broadly unchanged at Mex$22.92. Share price fell 4.1% to Mex$21.97 over the past week. Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -Mex$0.16 to -Mex$0.10 per share. Revenue forecast steady at Mex$10.4b. Telecom industry in Mexico expected to see average net income growth of 31% next year. Consensus price target broadly unchanged at Mex$23.22. Share price rose 3.9% to Mex$24.70 over the past week. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Director Daniel Diaz Diaz was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Mar 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Director Daniel Diaz Diaz was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. 
