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

2021-04-26 — Shareholders' meeting: dividend & buyback

Shareholders approved an ordinary cash dividend of Ps.0.40 per share (split into two installments on 19 Jul and 8 Nov 2021) and authorized a Ps.25 billion buyback fund; treasury shares from prior repurchases were cancelled [14], [13].

The market read this as management reasserting shareholder discipline after pandemic disruption. The combination of dividend and buybacks repositioned AMX as a yield-and-return focused value name. Technically, the stock moved from accumulation/support into mid-2021, with a short-term uplift on the announcement.

2021-11-23 — Closing of TracFone sale to Verizon

AMX completed the sale of TracFone to Verizon, receiving roughly $3.63 bn in cash plus approximately 57.6 million Verizon shares as part of a transaction valued above $6 bn [26], [30].

The one-off monetization of non-core U.S. prepaid assets materially improved liquidity and funded future buybacks and dividends. Q4 earnings spiked from the deal impact. Investors treated it as de-risking. The chart broke higher into Q4 2021 as the market priced in the cash, equity consideration, and EPS uplift.

2021 Q4 / FY 2021 — Earnings jump (deal impact)

FY2021 reported a sharp rise in net income, driven by TracFone disposal and related gains, alongside modest organic revenue and EBITDA growth [3], [8].

Investor opinion split between one-time accounting gains and underlying operational recovery. Overall, AMX repositioned toward a "cash-return compounder" with improved reported profitability. The stock rallied around Q4 results, then consolidated as investors parsed sustainability.

2022-04 — Higher buyback; dividend Ps.0.44

Shareholders approved an ordinary dividend of Ps.0.44 (single installment) and increased the buyback authorization by approximately Ps.26 billion for the April 2022–April 2023 period [41], [42].

The continuation of shareholder-friendly policy reinforced AMX as a steady dividend and repurchase vehicle. Macro headwinds and FX exposure kept valuation restrained. The stock traded in a range to mild downtrend through much of 2022 as global rates weighed on telecom multiples; buyback news provided episodic support.

2023-04 — Dividend Ps.0.46; buyback Ps.20 bn authorized

The board proposed and shareholders approved Ps.0.46 per share (two equal installments) and a Ps.20 billion buyback fund for April 2023–April 2024; treasury shares cancellation was approved [52], [55].

Steady distributions continued. Investors watched for sustainable revenue growth and execution in core markets. The stock traded in a multi-month range, with short rallies around distribution announcements.

2023 Q2 (reported July 2023) — Profit surge, revenue mix

Q2 2023 net profit surged approximately 89% year-over-year, largely from foreign-exchange and one-time effects. Revenue fell modestly while postpaid subscriber growth, notably in Brazil, showed operational strength. H1 capex reached approximately Ps64.4 bn and distributions (including buybacks) totalled approximately Ps5.0 bn [63], [53].

Investors cheered subscriber and postpaid traction but recognized that FX and gains, not core top-line, accounted for much of the headline profit. The narrative shifted toward operational execution amid accounting noise. The stock rallied on the beats, then consolidated.

2024 (FY/early-year reporting) — Argentina accounting & heavy capex

Argentine operations and FX effects produced material accounting impacts in period disclosures (reductions in reported revenue and EBITDA). Net debt movements and elevated capex became focal points while shareholder distributions continued [57], [61], [58].

Market perception evolved into "operational growth underpinned by regional exposure." Investors balanced telecom growth prospects (mobile/fixed convergence, postpaid gains) against volatile accounting items from Argentina and heavy investment needs. The stock moved into a multi-quarter range as macro and country-risk concerns capped valuation despite operational progress.

2024-04 — AGM approves higher dividend; more buyback authorization

Shareholders backed an ordinary dividend of Ps.0.48 per share (two installments in 2024) and approved an incremental Ps.15 billion buyback program [56], [59].

The decision reinforced AMX's reputation as a reliable cash distributor. Income-oriented investors continued viewing it as a yield play, while growth investors focused on service revenue expansion and market share in Brazil and Mexico. The stock traded in a range with modest defensive-biased accumulation; macro uncertainty limited breakout.

2026 Q1 (reported Apr 2026) — Operating leverage, dividend/buyback boost, Brazil deal

Q1 2026 net income rose approximately 25% to MXN23.4 bn (MXN0.39 per share reported). The board proposed a dividend of Ps.0.54 per share (two installments) and allocated an additional Ps.10 billion to the share buyback fund for April 2026–April 2027. The company announced a Brazil acquisition as part of growth moves [5], [6], [10].

Investors interpreted the quarter as evidence of operating leverage and improved profitability, though EPS missed some expectations. Revenue and strategic M&A signaled renewed growth intent. The narrative: shareholder returns combined with selective M&A reflected balanced capital allocation. The stock moved into a mild uptrend through mid-2026 as operational improvement supported the equity, with the current price at 26.01 reflecting a recovery and accumulation posture versus prior drawdowns.

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 holds dominant positions across Mexico and several Latin American markets as an integrated telecom operator. Its competitive landscape is fragmented and hyperlocal. In Mexico, it faces AT&T Mexico, izzi, Megacable and Totalplay. In Brazil, Telefónica and TIM are the primary challengers. Regionally, it competes against mobile incumbents (Telefónica/Movistar/Vivo, TIM, Millicom/Tigo), cable and broadband groups (Liberty Latin America, Vodafone, Orange), and U.S.-listed peers like AT&T and Verizon that serve as valuation benchmarks. Product competition spans mobile, fixed broadband and pay-TV across all markets. The company carries meaningful structural headwinds. Regulatory and political exposure varies by jurisdiction. Currency volatility in Latin America creates earnings pressure. Regional rivals and cable providers maintain relentless focus on ARPU compression and market share. Capital intensity for 5G and fiber deployment is substantial, and the company carries leverage to fund these buildouts.

  • Regulatory and political exposure across Latin American markets presents material operational risk. Spectrum allocation decisions, price controls, tax treatment, and nationalization risk span multiple jurisdictions and can meaningfully compress margins or disrupt service delivery.
  • Foreign-exchange and macroeconomic exposure create material vulnerability across the business. Significant revenue and cost bases denominated in local currencies—Mexican peso, Brazilian real, Argentine peso, Colombian peso, among others—mean reported results and average revenue per user shift with devaluation, inflation, and local economic contractions. The company has limited insulation from these pressures.
  • Local competition remains intense across mobile, cable, and fixed-broadband segments. Regional incumbents like Telefónica and Vivo, alongside TIM and Millicom, compete aggressively on pricing. Cable and MSO operators—Liberty, izzi, Megacable, Totalplay—add further pressure. This competitive density creates meaningful headwinds on both market share and pricing power [ARPU].
  • High capital intensity and leverage risk: substantial, continuous spending on 5G spectrum, fiber, and network infrastructure, paired with mounting debt refinancing obligations and tightening liquidity conditions.

Competitive landscape

América Móvil commands the integrated telecom landscape across Mexico and significant portions of Latin America, delivering mobile, fixed broadband, pay-TV and enterprise solutions. Competition arrives from multiple angles: multinational carriers like Telefónica, regional mobile heavyweights including TIM and Millicom, cable and broadband operators such as Liberty Latin America and Grupo Televisa, plus global players with regional presence like AT&T. Satellite providers and localized fiber networks are beginning to nibble at the edges. The company's risk profile sits at the intersection of several pressures. Regulatory and spectrum dynamics in its core markets carry real teeth. Currency swings and macroeconomic volatility across emerging economies create persistent headwinds. The 5G and fiber buildout demands substantial capital and carries leverage implications that can't be ignored. Competition itself has sharpened, and technology disruption keeps the ground shifting beneath traditional telecom models.

CompanyTicker
Telefónica, S.A.TEF.NYSE
Liberty Latin America Ltd.LILA.NASDAQ
AT&T Inc.T.NYSE
Verizon Communications Inc.VZ.NYSE
TIM Participações S.A.TIMS3.B3
Grupo Televisa, S.A.B.TLEVISACPO.BMV

Private competitors

  • Digicel Group
  • Starlink (SpaceX)
  • Local/regional cable and municipal fiber ISPs (country-specific challengers)

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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
27.13 / 25.40
52W High / Low
28.46 / 16.92
5Y High / Low
28.46 / 13.10
1M
-1.34%
3M
+0.20%
6M
+29.20%
1Y
+52.79%
3Y
+33.11%
5Y
+88.69%

Relative Performance vs Benchmarks

PeriodAmerica Movil SAB de CV ADR vs DAX vs S&P 500 (SPY)
1M -1.34% -1.36% -2.20%
3M +0.20% -0.66% -6.36%
6M +29.20% +30.71% +19.49%
1Y +52.79% +49.02% +30.53%
3Y +33.11% -21.95% -40.68%
5Y +88.69% +28.36% +1.45%

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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
Current15.71.53.74.7
1Y ago0.90.10.10.2
3Y ago15.41.63.810.3
5Y ago0.50.10.20.2

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 177,545 people. America Movil SAB de CV ADR recently reported revenue of about 948.44B USD, a profit margin of 9.23%, return on equity of 21.13%, a market capitalisation around 78.61B USD, valuation multiples of roughly 15.9x earnings, 0.1x sales, 3.1x book value. Analyst consensus currently expects earnings per share of around 2.10 USD with year‑over‑year growth of 11.31%. America Movil SAB de CV ADR has an ongoing dividend policy and pays around 0.54 USD per share (2.10% 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 holds dominant positions across Mexico and several Latin American markets as an integrated telecom operator. Its competitive landscape is fragmented and hyperlocal. In Mexico, it faces AT&T Mexico, izzi, Megacable and Totalplay. In Brazil, Telefónica and TIM are the primary challengers. Regionally, it competes against mobile incumbents (Telefónica/Movistar/Vivo, TIM, Millicom/Tigo), cable and broadband groups (Liberty Latin America, Vodafone, Orange), and U.S.-listed peers like AT&T and Verizon that serve as valuation benchmarks. Product competition spans mobile, fixed broadband and pay-TV across all markets. The company carries meaningful structural headwinds. Regulatory and political exposure varies by jurisdiction. Currency volatility in Latin America creates earnings pressure. Regional rivals and cable providers maintain relentless focus on ARPU compression and market share. Capital intensity for 5G and fiber deployment is substantial, and the company carries leverage to fund these buildouts.
  • Regulatory and political exposure across Latin American markets presents material operational risk. Spectrum allocation decisions, price controls, tax treatment, and nationalization risk span multiple jurisdictions and can meaningfully compress margins or disrupt service delivery.
  • Foreign-exchange and macroeconomic exposure create material vulnerability across the business. Significant revenue and cost bases denominated in local currencies—Mexican peso, Brazilian real, Argentine peso, Colombian peso, among others—mean reported results and average revenue per user shift with devaluation, inflation, and local economic contractions. The company has limited insulation from these pressures.
  • Local competition remains intense across mobile, cable, and fixed-broadband segments. Regional incumbents like Telefónica and Vivo, alongside TIM and Millicom, compete aggressively on pricing. Cable and MSO operators—Liberty, izzi, Megacable, Totalplay—add further pressure. This competitive density creates meaningful headwinds on both market share and pricing power [ARPU].
  • High capital intensity and leverage risk: substantial, continuous spending on 5G spectrum, fiber, and network infrastructure, paired with mounting debt refinancing obligations and tightening liquidity conditions.
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 commands the integrated telecom landscape across Mexico and significant portions of Latin America, delivering mobile, fixed broadband, pay-TV and enterprise solutions. Competition arrives from multiple angles: multinational carriers like Telefónica, regional mobile heavyweights including TIM and Millicom, cable and broadband operators such as Liberty Latin America and Grupo Televisa, plus global players with regional presence like AT&T. Satellite providers and localized fiber networks are beginning to nibble at the edges. The company's risk profile sits at the intersection of several pressures. Regulatory and spectrum dynamics in its core markets carry real teeth. Currency swings and macroeconomic volatility across emerging economies create persistent headwinds. The 5G and fiber buildout demands substantial capital and carries leverage implications that can't be ignored. Competition itself has sharpened, and technology disruption keeps the ground shifting beneath traditional telecom models.
  • Telefónica, S.A. (TEF.NYSE)
  • Liberty Latin America Ltd. (LILA.NASDAQ)
  • AT&T Inc. (T.NYSE)
  • Verizon Communications Inc. (VZ.NYSE)
  • TIM Participações S.A. (TIMS3.B3)
  • Grupo Televisa, S.A.B. (TLEVISACPO.BMV)
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 July 28, 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%
20240.26 USD1.41%
20230.20 USD1.15%
20230.27 USD1.23%
20220.29 USD1.68%
20220.44 USD2.35%
20210.20 USD1.10%
20210.20 USD1.26%
20200.19 USD1.42%
20200.18 USD1.29%
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

34.7%
Beat estimate
63.3%
Miss estimate
+57.93%
Avg surprise when beat
-45.18%
Avg surprise when miss

Reports analyzed: 98

Upcoming earnings report

July 28, 2026
Next earnings date · MXN

Analyst estimates for upcoming periods

Next year
December 31, 2027
Consensus2.10
Range1.87 – 2.34
7 analysts
Est. growth vs prior: 11.31%
Revisions: 7d ↑1 ↓0 · 30d ↑3 ↓0
Next quarter
September 30, 2026
Consensus0.47
Range0.40 – 0.55
4 analysts
Est. growth vs prior: 13.72%
Revisions: 7d ↑0 ↓0 · 30d ↑1 ↓1

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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