América Móvil, S.A.B. de C.V.

NYSE:AMX Stock Report

Market Cap: US$79.1b

América Móvil. de Past Earnings Performance

Past criteria checks 4/6

América Móvil. de's earnings have been declining at an average annual rate of -7.9%, while the Wireless Telecom industry saw earnings growing at 19.6% annually. Revenues have been growing at an average rate of 2.6% per year. América Móvil. de's return on equity is 21.3%, and it has net margins of 9.2%.

Key information

-7.87%

Earnings growth rate

-5.86%

EPS growth rate

Wireless Telecom Industry Growth23.12%
Revenue growth rate2.58%
Return on equity21.33%
Net Margin9.23%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Seeking Alpha • Jan 23

America Movil Not Getting Its Due, But Also Lacks Obvious Buyers

Summary America Movil remains undervalued, with over 20% upside, but lacks a clear investor base due to modest growth and payouts. Lower capex spending, market consolidation in Colombia and the Southern Cone, and stable margins support mid-teens FCF growth for several years. AMX's dominant positions in Mexico and Brazil, coupled with potential M&A, offer incremental upside, but regulatory and competitive risks persist. I recommend AMX for patient investors, though rerating may be slow given limited catalysts and emerging market risk profile. Read the full article on Seeking Alpha
Seeking Alpha • Mar 14

America Movil Is Finally Turning A Corner

Summary Business performance and cash flow have improved, alongside a stock price decline, supporting a new price target of $23.72, a 65% upside potential. Postpaid growth, ARPU improvements, and EBITDA expansion signal the success of management's strategy, while reduced peso volatility and declining interest rates are easing financial risks. Rising trade protectionism poses a potential challenge, but América Móvil's reduced capital expenditures and localized market strategies help offset this risk, supporting a 'Buy' rating. Read the full article on Seeking Alpha
Seeking Alpha • Jul 18

America Movil: Slow And Steady Can Still Win Some Races

Summary America Movil delivered reasonably good Q2'24 results, with inline revenue and outperformance in both service revenue and EBITDA. Core mobile and broadband performance was fine in both Mexico and Brazil, and there was evidence of improving market conditions in Argentina, Chile, and Colombia. Management's Investor Day guidance for capex was reassuring, with intended spending down 10% from the prior 3-year plan despite an ongoing focus on service quality differentiation. Mid-single-digit growth may not make America Movil the most exciting name out there, but it can support a fair value in the low/mid-$20's. Read the full article on Seeking Alpha
Seeking Alpha • Apr 18

America Movil: Disappointing Q1 Earnings, Downgrading To Sell

Summary Q1 earnings for America Movil were disappointing, with revenue and EBITDA growth falling below my expectations. AMX's strategy is not gaining momentum, with ARPU falling below inflation and unimpressive volume gains in nearly every market. Management's inability to make any headway on margin expansion and the negative impact of macro factors on net income have led me to lack of confidence in a financial turnaround. With a price target of $15, 15% downside from today, I am lowering my rating from hold to sell. Read the full article on Seeking Alpha
Seeking Alpha • Jan 06

I'm Waiting For América Móvil's Margin Expansion

Summary América Móvil's Q3 2023 earnings show strength in volume drivers at the expense of rate. The company is facing headwinds with volatility in FX and macroeconomic factors impacting its performance. While the stock price has decreased, concerns about long-term value and the need for margin expansion remain, leading to a hold rating. Read the full article on Seeking Alpha
Seeking Alpha • Oct 19

America Movil: Strong LTV Trends Encouraging

Summary America Movil has continued to see encouraging growth in LTV - or lifetime value trends. The company's reduction in long-term debt has also been encouraging. I take a bullish view on America Movil. Read the full article on Seeking Alpha
Seeking Alpha • Jul 06

América Móvil Struggling With Consistency

Summary América Móvil, a Mexican telecommunications corporation, has seen strong growth, with its stock price up 8% over the past year and 25% in the past five years. The company's strong Q1 performance was driven by growth in Brazil, but it faces inconsistency in performance across different countries and struggles to maintain ARPU with high churn rates. Despite the company's growth, investors should be cautious due to long-term telecom industry headwinds in Latin America and valuation multiples reflecting non-operating fluctuations. Read the full article on Seeking Alpha
Seeking Alpha • Feb 16

América Móvil GAAP EPS of $0.22 misses by $0.25, revenue of Mex$215.97b

América Móvil (NYSE:AMX): Q4 GAAP EPS of $0.22 misses by $0.25. Revenue of Mex$215.97b (-2.4% Y/Y).
Seeking Alpha • Oct 28

America Movil: Impressive Revenue Growth, But Risks Remain

Summary America Movil has seen impressive growth in revenue and earnings in the most recent quarter. A significant portion of this growth is likely to have been driven by the uptake of 5G services. However, the current inflationary environment could potentially see a plateau in 5G demand going forward. Investment Thesis: While America Movil (AMX) has seen impressive growth in revenues and earnings, the current inflationary environment could potentially see a plateau in 5G demand going forward. In a previous article back in August, I made the argument that America Movil could see limited upside in the short to medium-term as a result of a rise in long-term debt as well as a weakening Mexican peso affecting revenue growth. The stock has weakened in price since my last article, but has started to see a significant recovery following the earnings release earlier this month. investing.com The purpose of this article is to assess America Movil's performance in light of its most recent earnings, and establish whether the recent rebound in price growth can continue going forward. Performance When looking at the company's most recent earnings, we can see that earnings per share is up by 16% to Mex$0.28 and EBITDA per share is up by over 5% to Mex$1.31: América Móvil's third quarter of 2022 financial and operating report Particularly, we can see that growth in service revenue has in turn been driving growth in EBITDA - with the company seeing a 3.8% growth in prepaid wireless subscribers, along with a 5.9% growth in ARPU (average revenue per user) and a slight drop in churn from 3.4% to 3.3%. América Móvil's third quarter of 2022 financial and operating report América Móvil's third quarter of 2022 financial and operating report In this regard, revenue and earnings has been encouraging and customer interest has continued to rise in spite of inflationary pressures. According to the company's most recent balance sheet, long-term debt is down by over 9% from Mex$418.8 billion in December 2021 to Mex$380.4 billion in September 2022. América Móvil's third quarter of 2022 financial and operating report From a short-term standpoint, the company's quick ratio (or current assets less inventories all over current liabilities) has decreased slightly from 71% in December 2021 to 63% in September 2022. December 2021 September 2022 Current Assets 404,157 376,582 Inventories 24,185 31,822 Current Liabilities 534,013 542,998 Quick Ratio 71.15% 63.49% Source: Figures sourced from América Móvil's third quarter of 2022 financial and operating report. Figures provided in millions of Mexican pesos (except quick ratio). Quick ratio calculated by author. The decline in the quick ratio indicates that America Movil is in a slightly less favourable position to fund its current liabilities than previously. While the reduction in long-term debt along with the boost in revenues and earnings has been encouraging, I take the view that investors will start to pay more attention to the quick ratio in subsequent earnings quarters - and will want to see evidence that America Movil can use revenue growth to fund its current liabilities as evidenced by growth in the quick ratio. Looking Forward Going forward, I take the view that while America Movil could have longer-term upside from here - investors will start taking a deeper look at whether the company can sustainably bolster its cash flow and further reduce long-term debt given the revenue growth it has seen to date.
Seeking Alpha • Oct 17

América Móvil Q3 2022 Earnings Preview

América Móvil (NYSE:AMX) is scheduled to announce Q3 earnings results on Tuesday, October 18th, after market close. The consensus EPS Estimate is $0.27 (+12.5% Y/Y) and the consensus Revenue Estimate is $10.81B (-95.7% Y/Y). Over the last 3 months, EPS estimates have seen 1 upward revision and 1 downward. Revenue estimates have seen 0 upward revisions and 3 downward.
Seeking Alpha • Aug 19

America Movil: Limited Upside In Short To Medium-Term

America Movil has shown improving performance in terms of churn and ARPU rates. However, long-term debt rates have been rising, and a weaker Mexican peso has affected revenue growth. I see limited upside in the short to medium-term. Investment Thesis: In spite of continued improvements in churn and ARPU rates, I take the view that the stock could see limited upside on a short to medium-term basis. In a previous article back in May, I made the argument that while America Movil (AMX) has shown strong performance to date - the stock could see some pressure going forward as a result of intensifying competition across the 5G space as well as a weakening of the Mexican peso relative to the dollar. Since then, the stock has seen significant downside: Investing.com The purpose of this article is to assess whether America Movil could see renewed upside from here - particularly taking recent performance into account. Please note that figures cited from America Movil's financial reports are provided in Mexican pesos. Performance When looking at operating data for Mexico - we can see that while there was a slight decrease in postpaid wireless subscribers from Q2 2021 to Q2 2022 - this was outweighed by a 4.1% increase in prepaid subscribers. Additionally, churn saw a 0.2% decrease along with a 5.2% increase in ARPU (average revenue per user). America Movil: Q2 2022 Financial and Operating Report When examining the company's income statement - while net income saw a slight fall of 0.3% compared to the same six-month period in 2021 - this was driven in significant part by lower foreign exchange losses last year. Over the same period, EBIT was up by 5% - driven by a 3.9% rise in service revenue. America Movil: Q2 2022 Financial and Operating Report From a balance sheet standpoint, the company has seen a slight decrease in its quick ratio (as measured by cash and cash equivalents plus accounts receivable all over total current liabilities) - but the company's cash levels remain stable overall. December 2021 June 2022 Cash and cash equivalents 156383 150756 Accounts receivable 212977 210479 Total current liabilities 534013 544449 Quick ratio 69.17% 66.35% Source: Figures sourced from America Movil Q2 2022 Financial and Operating Report. Quick ratio calculated by author. Moreover, S&P Global Ratings (SPGI) recently upgraded the company's credit rating to A-/Stable. With that being said, America Movil did see its long-term debt rise by 4.8% from December 2021 to over 439 billion pesos: America Movil Q2 2022 Financial and Operating Profit. In this regard, investors might become cautious of the stock if long-term debt must continue to rise in order to generate further revenue growth. Looking Forward Over the past quarter - investors seem to have shied away from America Movil not only due to concerns about inflation going forward but also as a result of a weakening peso lowering the company's overall earnings growth.
Seeking Alpha • May 29

America Movil: Strong Performance To Date, But Competition Could Intensify

America Movil has shown strong financials to date and growth across the Latin American market appears strong. However, a potential weakening of the Mexican peso as well as intensifying competition across the 5G space remain potential risk factors. More specifically, America Movil could face significant competition from Movistar and AT&T Mexico to expand its 5G customer base.
Seeking Alpha • Oct 13

The Simple Logic Of América Móvil Spin Off

Growth of the telco business of América Móvil is back after a temporary deceleration in the pandemic. Big news is that the spin-off of 36,000 cell towers in a separate tower company was approved in an extraordinary general shareholder meeting on September 29th. The América Móvil shareholders will receive the same number of shares in the new infra company named Sitios Latinoamérica. In general, tower companies have higher valuation multiples than telcos. The upcoming cell tower spin-off offers capital gains potential and América Móvil is an attractive diversification over the Latin American geographies.

Revenue & Expenses Breakdown

How América Móvil. de makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:AMX Revenue, expenses and earnings (MXN Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 26948,44487,517207,1630
31 Dec 25943,63882,819224,2700
30 Sep 25935,68267,759218,9500
30 Jun 25926,22151,486216,1420
31 Mar 25897,96128,111208,9720
31 Dec 24869,22122,902200,6330
30 Sep 24832,99336,890191,1860
30 Jun 24813,37732,491187,0110
31 Mar 24810,38459,459186,2170
31 Dec 23816,01376,111186,5750
30 Sep 23831,26281,149187,8510
30 Jun 23838,21394,183189,0340
31 Mar 23847,93582,244191,5730
31 Dec 22844,50182,878191,8310
30 Sep 22833,31979,830190,2590
30 Jun 22833,29775,711189,8610
31 Mar 22854,742102,906195,0830
31 Dec 21830,68768,187187,9550
30 Sep 21703,75868,455174,9300
30 Jun 21753,19976,413183,0450
31 Mar 21973,11074,301214,0210
31 Dec 20815,39935,265197,3120
30 Sep 201,024,99830,314228,5190
30 Jun 201,013,26124,455228,5970
31 Mar 201,011,75319,316228,1530
31 Dec 19851,48357,886206,8850
30 Sep 191,023,96261,442233,5280
30 Jun 191,023,42367,280230,9020
31 Mar 191,030,32353,353234,0900
31 Dec 181,038,20852,566237,1610
30 Sep 181,022,31126,787235,4730
30 Jun 181,018,564-1,642242,7320
31 Mar 181,011,01712,237244,1830
31 Dec 171,021,63429,326249,3570
30 Sep 171,027,11034,649253,0790
30 Jun 171,032,63146,319254,2410
31 Mar 171,016,58539,706249,1420
31 Dec 16975,4128,649237,2800
30 Sep 16936,51030,285223,7200
30 Jun 16910,23525,278213,5130
31 Mar 16896,68731,626207,6490
31 Dec 15893,73835,055207,0630
30 Sep 15892,61022,442219,5890
30 Jun 15890,05935,702224,7170

Quality Earnings: AMX has high quality earnings.

Growing Profit Margin: AMX's current net profit margins (9.2%) are higher than last year (3.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: AMX's earnings have declined by 7.9% per year over the past 5 years.

Accelerating Growth: AMX's earnings growth over the past year (211.3%) exceeds its 5-year average (-7.9% per year).

Earnings vs Industry: AMX earnings growth over the past year (211.3%) exceeded the Wireless Telecom industry -11.5%.

Return on Equity

High ROE: Whilst AMX's Return on Equity (21.33%) is high, this metric is skewed due to their high level of debt.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/22 22:08
End of Day Share Price 2026/05/22 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

América Móvil, S.A.B. de C.V. is covered by 36 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martín LaraActinver Case de Bolsa, S.A. de C.V.
William Noel MilnerArete Research Services LLP
Amir RozwadowskiBarclays