Recommended as Stock of the Week on June 29, 2026

América Móvil: The Quiet Telecom Empire South of the Equator

TickerAMX.NYSE
Recommended Price26.24 USD
Current Price 26.24 USD
America Movil SAB de CV ADR – stock chart

Scores at time of recommendation (June 29, 2026)

Leeway Score
62/100
Excellent
Business Rating
55/100
Excellent
Market-Fit Rating
69/100
Excellent
Cycle Rating
62/100
Fair

More about our scores in Help

5-year stock timeline

Q2 2026 results and operational gains

América Móvil reported Q2 2026 results with revenue growth year-over-year, EBITDA expansion, unit additions, and continued share buybacks paired with deleveraging efforts. Management highlighted fiber acquisitions including WOW Peru and reiterated CapEx and leverage targets. The market read this as confirmation of operational resilience and margin improvement, with the narrative shifting toward a cash-return and infrastructure consolidation phase. Net income and free cash flow recovered despite FX and financing headwinds.

Revenue in Q2 2026 reached MXN 241.07 billion. EBITDA for the quarter came in at approximately MXN 95.9–96.0 billion. Net income for Q2 2026 was MXN 24.3 billion. Free cash flow for H1 2026 totaled MXN 43 billion. Reported net debt to LTM EBITDA stood at approximately 1.31x [8][9].

2025 – Continued buybacks, dividend increases and European expansion focus

The company maintained active share repurchase programs and raised dividend distributions while pursuing fiber and fixed-broadband growth across Latin America and Europe. Roadshows and investor presentations emphasized buybacks and shareholder returns. Market positioning leaned toward a dividend and return-focused value or compounder narrative rather than pure high-growth telecom. An 8% dividend increase was noted in investor materials, with ongoing buyback program authorizations rolling through 2025 [13][18].

2024 Jul–Nov – Buyback authorization and continued capital allocation

A shareholder meeting authorized a new buyback tranche for April 2024–April 2025. Management continued to guide disciplined CapEx and shareholder returns. The market viewed allocation of excess cash to buybacks as evidence that management prioritized shareholder value while investing selectively in fiber. The buyback authorization amount for April 2024–April 2025 was Ps.15 billion [18][17].

2023 Jul–Nov – Telekom Austria control build and consolidation in Europe

América Móvil acquired a controlling stake in Telekom Austria AG, beginning with a 5.55% acquisition on July 24, 2023, followed by additional open-market purchases that brought the stake to approximately 58.4% by year-end. A 10-year governance agreement with OBAG was executed to secure control. The market treated this as strategic European expansion and consolidation, viewed as diversification of geographic cash flows and extraction of operational synergies. Concerns persisted regarding integration and regulatory implications. Ownership in Telekom Austria reached 58.4% as of December 31, 2023 [16][18].

2022 Sep–Nov – Sale and combination of regional assets

América Móvil completed the sale of Claro Panama to an affiliate of Liberty Latin America on July 1, 2022, and formed a 50:50 Chile joint venture combining VTR and Claro Chile with LLA in October 2022. These moves followed the earlier TracFone sale to Verizon, which had closed in late 2021. Investors viewed these transactions as portfolio optimization, exiting or combining non-core or scale-constrained assets to focus capital on higher-return markets and on buybacks and deleveraging [20][22].

2022 Apr – Large buyback authorization increase

Shareholders approved an increase to the share buyback fund by Ps.26 billion. The market interpreted the enlarged buyback capacity as management using proceeds from asset sales and improved cash generation to repurchase stock, signaling confidence in intrinsic value and boosting per-share metrics [21].

2021 Nov – Completion of TracFone sale to Verizon

América Móvil finalized the sale of its TracFone prepaid business to Verizon on November 23, 2021, following FCC approval. The sale marked a strategic exit from the U.S. prepaid business and materially reallocated capital. Proceeds funded buybacks and lowered leverage, shifting the investor narrative from a sprawling emerging-markets operator toward a more focused capital-returns and regional operator model. The company disclosed buybacks of more than Ps.31.4 billion in 2021 [22][21].

Key Points

From recommendation (June 29, 2026)

  • Price: $26.41 – Market capitalization approximately $79.8 billion USD
  • P/E 16x, Price-to-Sales 1.5x, PEG 1.1x – Fair valuation for a telecom oligopoly
  • EBIT margin 2025: 21.0% – significant recovery following a weak 2024 (13.3%)
  • Earnings growth +25.8% most recently, 2026e EPS estimate: $2.10
  • ROE 21.1% – Capital-efficient business model despite substantial network investments
  • Revenue growth moderate at +2.1% — no hypergrowth, but stable

Investment Thesis

From recommendation (June 29, 2026)

América Móvil isn't a growth story you buy because it excites you. You buy it because Latin America needs mobile and broadband infrastructure—and AMX owns the assets there that can't be replicated quickly. The company generates solid operating cash flows from a market with structural digitalization potential still ahead of it. At a PEG of 1.1x and P/E of 16x, the valuation isn't aggressive for a business with this market position. If you're specifically seeking defensive cash flow quality from emerging markets and you're pricing in currency and regulatory risk consciously, there's a consistent equity narrative here.

Key risks and downside factors

América Móvil operates as the dominant integrated telecom provider in Mexico and holds a leading position in mobile and broadband services across Latin America under the Claro and Telcel brands. The company faces competition from regional telecom operators expanding across the continent—including Telefónica, Vivo, TIM Brasil, Millicom's Tigo, and Liberty Latin America—as well as from U.S. and global carriers and cable operators that target higher-value customer segments. Its financial profile reflects exposure to regulatory constraints, currency volatility, and the capital intensity inherent to telecom infrastructure.

  • Regulatory and antitrust enforcement in Mexico and across Latin America presents material risk of forced asset sales or pressure on pricing and interconnection revenue streams.
  • Currency volatility across Latin American markets—the peso, real, and other regional currencies—can materially reduce both reported results and actual cash flows for investors holding positions in these economies.
  • Intense competition from established telecommunications operators, cable and media service operators, and low-cost mobile entrants creates sustained pressure on average revenue per user, market share, and the efficiency of capital deployment.
  • The substantial capital demands of 5G deployment, fiber infrastructure buildout, and spectrum licensing create elevated leverage and expose carriers to refinancing risk during periods of credit market volatility.

Competitive landscape

América Móvil operates as a leading integrated telecom provider across Latin America and select European markets. Competition plays out at the local level in each geography, though América Móvil faces pressure from large multinational carriers and regional cable and IPTV operators. The company contends with pricing pressure and network investment requirements from other mobile operators, bundled offerings and fiber deployment from cable and fixed broadband providers, and disruption from technology entrants. Regulatory changes, currency fluctuations, and macroeconomic shifts represent material headwinds to both cash flow generation and growth trajectory.

CompanyTicker
Telefónica, S.A.TEF.MC
AT&T Inc.T.NYSE
Verizon Communications Inc.VZ.NYSE
T-Mobile US, Inc.TMUS.NASDAQ

Private competitors

  • Megacable
  • Grupo Televisa / izzi (note: Televisa is public for some entities but izzi broadband operations are structured privately within the group)
  • Regional cable/MSO operators across Latin America (country-specific local private providers)

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Catalysts

From recommendation (June 29, 2026)

  • Quarterly Results: ARPU Development, Free Cashflow, and Margin Trends in Mexico and Brazil
  • Dividend Increases or Share Buybacks as Capital Return Signals
  • Spectrum and Licensing Decisions by Mexican and Brazilian Regulators
  • FX Development MXN/BRL Against USD – Critical for USD Earnings Translation
  • Demand Trends in Mobile Broadband and Postpaid Penetration in Core Markets

Analysis

From recommendation (June 29, 2026)

América Móvil serves a fundamental need across Latin America—communication, mobile internet, digital payments—that's as essential to the region as electricity or water, yet remains unevenly distributed from an infrastructure standpoint. The network infrastructure built over decades requires billions in capital and cannot be easily replicated, which structurally protects market position without needing to invoke the moat metaphor. EBIT margins recovered to 21.0% in 2025 after 2024's clear outlier at 13.3%—operational resilience worth noting, though it warrants caution since such swings appear more frequently in EM telecoms than in European markets. The central risk is well-known: AMX operates as the dominant player in Mexico under heightened regulatory scrutiny, and across the region, political surprises, currency devaluations, or sudden regulatory impositions could pressure margins. On the positive side, management has demonstrably learned to navigate regulatory pressure cycles, and the business model generates cashflow even through difficult macro periods. The peso and real remain the decisive variables for USD investors—investing here amounts to an implicit macro call on Latin America itself. Overall, AMX is neither thrilling nor broken, but a solid defensive holding for investors seeking EM exposure with substance behind it.

Performance Figures of America Movil SAB de CV ADR

in USD

1M High / Low
23.38 / 21.19
52W High / Low
28.46 / 19.70
5Y High / Low
28.46 / 13.10
1M
-8.03%
3M
-16.63%
6M
-16.17%
1Y
+3.39%
3Y
+32.72%
5Y
+38.81%

Relative Performance vs Benchmarks

PeriodAmerica Movil SAB de CV ADR vs DAX vs S&P 500 (SPY)
1M -8.03% -4.00% -7.91%
3M -16.63% -15.14% -19.49%
6M -16.17% -24.94% -33.28%
1Y +3.39% -2.13% -12.56%
3Y +32.72% -31.05% -52.65%
5Y +38.81% -27.45% -49.35%

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Historical valuation trends

How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.

PeriodP/E RatioP/S RatioP/B RatioP/CF Ratio
Current12.91.23.14.5
1Y ago0.90.10.20.2
3Y ago12.51.33.18.3
5Y ago0.60.10.20.2

Frequently Asked Questions

From recommendation (June 29, 2026)

Is America Movil SAB de CV ADR a good investment?

America Movil SAB de CV ADR has a Leeway Score of 62.1/100, which is rated as Excellent. The Leeway Score combines business quality, fundamental evaluation, and valuation cycle into a comprehensive assessment. A higher score indicates stronger investment quality based on AI-powered fundamental analysis.

What does America Movil SAB de CV ADR do?

America Movil SAB de CV ADR is a company characterized by the following investment thesis: América Móvil, S.A.B. de C.V. provides telecommunications services in Latin America and internationally. It offers wireless and fixed-line voice services, including airtime, local, domestic, and international long-distance services; and network interconnection services. The company provides data services, such as data centers, data administration, and hosting services to residential and corporate clients; value-added services, including internet access, messaging and other wireless entertainment, and corporate services; data transmission, email services, instant messaging, content streaming, and interactive applications; and wireless security services, mobile payment solutions, machine-to-machine services, mobile banking, virtual private network services, and video calls and personal communications services. In addition, it offers residential broadband services; IT solutions to small businesses and large corporations; and cable and satellite television subscriptions. Further, the company sells equipment, accessories, and computers; and offers software development, call center, entertainment content and news, telephone directories, advertising, cybersecurity services, and corporate IT solutions. Additionally, it provides video, audio, and other media content through the internet directly from the content provider to the end user. It sells its products and services under the Telcel, Telmex Infinitum, and A1 brand names through a network of retailers and service centers to retail customers; and through sales force to corporate customers. The company was incorporated in 2000 and is based in Mexico City, Mexico. America Movil SAB de CV ADR operates in the Communication Services / Telecom Services industry is based in USA employs around 176,618 people. America Movil SAB de CV ADR recently reported revenue of about 955.73B USD, a profit margin of 9.37%, return on equity of 21.58%, a market capitalisation around 64.76B USD, valuation multiples of roughly 13.1x earnings, 0.1x sales, 2.6x book value. Analyst consensus currently expects earnings per share of around 2.08 USD with year‑over‑year growth of 11.20%. America Movil SAB de CV ADR has an ongoing dividend policy and pays around 0.54 USD per share (2.45% yield).

What are the key metrics for AMX.NYSE?

Key metrics for AMX.NYSE include valuation (P/E 16, P/S 1.5, P/B 3.8), profitability (profit margin 9.23%, ROE 21.13%), and growth (revenue 2.10%, earnings 25.80%). Market capitalization is 79.82B USD. These metrics give an overview of the company's financial performance and valuation.

How has America Movil SAB de CV ADR's stock price performed?

America Movil SAB de CV ADR's stock has returned – over 1 year, – over 3 years, and – over 5 years. Performance can vary depending on market conditions and company developments.

How is AMX.NYSE valued?

AMX.NYSE has the following valuation metrics: P/E Ratio: 16, P/S Ratio: 1.5, P/B Ratio: 3.8. These metrics help assess whether the stock is fairly valued compared to its fundamentals.

What are the growth catalysts for America Movil SAB de CV ADR?

The key growth catalysts for America Movil SAB de CV ADR are:
  • Quarterly Results: ARPU Development, Free Cashflow, and Margin Trends in Mexico and Brazil
  • Dividend Increases or Share Buybacks as Capital Return Signals
  • Spectrum and Licensing Decisions by Mexican and Brazilian Regulators
  • FX Development MXN/BRL Against USD – Critical for USD Earnings Translation
  • Demand Trends in Mobile Broadband and Postpaid Penetration in Core Markets
These factors can positively influence the company's future growth and performance.

What are the key risks when investing in AMX.NYSE?

Key risks for AMX.NYSE include: América Móvil operates as the dominant integrated telecom provider in Mexico and holds a leading position in mobile and broadband services across Latin America under the Claro and Telcel brands. The company faces competition from regional telecom operators expanding across the continent—including Telefónica, Vivo, TIM Brasil, Millicom's Tigo, and Liberty Latin America—as well as from U.S. and global carriers and cable operators that target higher-value customer segments. Its financial profile reflects exposure to regulatory constraints, currency volatility, and the capital intensity inherent to telecom infrastructure.
  • Regulatory and antitrust enforcement in Mexico and across Latin America presents material risk of forced asset sales or pressure on pricing and interconnection revenue streams.
  • Currency volatility across Latin American markets—the peso, real, and other regional currencies—can materially reduce both reported results and actual cash flows for investors holding positions in these economies.
  • Intense competition from established telecommunications operators, cable and media service operators, and low-cost mobile entrants creates sustained pressure on average revenue per user, market share, and the efficiency of capital deployment.
  • The substantial capital demands of 5G deployment, fiber infrastructure buildout, and spectrum licensing create elevated leverage and expose carriers to refinancing risk during periods of credit market volatility.
Investors should consider these risk factors carefully before making an investment decision.

Who are the main competitors of America Movil SAB de CV ADR?

America Movil SAB de CV ADR competes with several listed peers in its sector. América Móvil operates as a leading integrated telecom provider across Latin America and select European markets. Competition plays out at the local level in each geography, though América Móvil faces pressure from large multinational carriers and regional cable and IPTV operators. The company contends with pricing pressure and network investment requirements from other mobile operators, bundled offerings and fiber deployment from cable and fixed broadband providers, and disruption from technology entrants. Regulatory changes, currency fluctuations, and macroeconomic shifts represent material headwinds to both cash flow generation and growth trajectory.
  • Telefónica, S.A. (TEF.MC)
  • AT&T Inc. (T.NYSE)
  • Verizon Communications Inc. (VZ.NYSE)
  • T-Mobile US, Inc. (TMUS.NASDAQ)
These competitors influence pricing power, growth opportunities and relative valuation.

When does America Movil SAB de CV ADR report earnings?

America Movil SAB de CV ADR's next earnings report date is October 21, 2026.

Key Metrics

From recommendation (June 29, 2026)

Market Capitalization
79.82B USD
P/E Ratio
16.02
Analyst Target Price
29.10 USD

Valuation Metrics

P/S Ratio
1.48
P/B Ratio
3.81

Profitability Metrics

Profit Margin
9.23%
Operating Margin
21.33%
Return on Equity
21.13%
Return on Assets
6.64%

Growth Metrics

Revenue Growth
2.10%
Earnings Growth
25.80%

Dividend history

Long-term record of paid dividends (amount per share and dividend yield at the time of payment).

YearDividendYield at paymentAvg. yield
20260.31 USD1.18%1.38%
20250.28 USD1.24%
20250.28 USD1.57%
20240.24 USD1.49%
20240.27 USD1.45%
20230.20 USD1.15%
20230.27 USD1.23%
20220.29 USD1.68%
20220.44 USD2.35%
20210.20 USD1.10%
20210.20 USD1.26%
20200.18 USD1.35%
20200.17 USD1.23%
20190.18 USD1.11%
20190.19 USD1.29%

Earnings history & estimates

Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.

Historical earnings performance

34.3%
Beat estimate
63.6%
Miss estimate
+57.93%
Avg surprise when beat
-44.61%
Avg surprise when miss

Reports analyzed: 99

Upcoming earnings report

October 21, 2026
Next earnings date

Analyst estimates for upcoming periods

Next year
December 31, 2027
Consensus2.08
Range1.89 – 2.34
7 analysts
Est. growth vs prior: 11.2%
Revisions: 7d ↑2 ↓0 · 30d ↑3 ↓2

Key financial figures

All figures in MXN

Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.

20252024202320222021
Revenue885.08B869.22B816.01B844.50B855.53B
Operating income (EBIT)185.89B115.95B167.78B170.87B166.13B
Net income77.68B28.31B76.11B82.88B19.24B
Free cash flow120.67B126.26B91.75B4.06B5.72B
Total assets1.80T1.79T1.56T1.62T1.69T
Equity362.66B369.09B366.71B437.83B457.64B
Net debt883.74B744.07B599.25B100.45B623.92B

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