olivLaw · US equity research
América Móvil, S.A.B. de C.V. AMX
Telephone Communications (No Radiotelephone) · SIC 4813 · Vertical: Telephone Communications (No Radiotelephone) (SIC 4813)
América Móvil is the leading telecommunications services provider in Latin America, operating in 23 countries with first-place positions in wireless, fixed-line, broadband and Pay TV by RGUs. The company reported total operating revenues of Ps.943.6 billion for fiscal 2025, while investment in networks and 5G remains central to its strategy.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, América Móvil, S.A.B. de C.V. (AMX) stock was 25.03 USD (+1.13% on the day), with market capitalisation 1,508.4 bn USD, P/E 35.3 on diluted EPS of 0.71 USD over the last 12 months, dividend yield 0.10%, beta 0.41, 52-week range 19.89–27.75 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.5
- strong (55–70)
- Bollinger (20, 2)
- 20.94 – 25.92
- in the upper half of the band · %B 0.82 · band width 21.2%
- SMA 50 / 200
- 22.90 / 24.47
- mixed trend
- MACD (12, 26, 9)
- 0.62 / 0.46
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.0% | −1.1% | +14.1 pp | — |
| 3 months | +4.2% | −0.5% | +4.7 pp | — |
| 6 months | −7.6% | +4.4% | −12.0 pp | — |
| Year to date | +21.1% | +12.3% | +8.8 pp | — |
| 1 year | +10.8% | +13.5% | −2.8 pp | −14.4% |
| 3 years | +44.6% | +76.4% | −31.8 pp | +3.2% |
| 5 years | +35.2% | +63.7% | −28.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 60 percentile of its own 5-quarter history (min 15.5, median 20.5, max 96.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51.6 bn | 52.7 bn | 53.5 bn | 51.0 bn | 41.6 bn | 43.5 bn | 48.3 bn | 42.9 bn |
| Revenue YoY | unavailable | +2.2% | +1.3% | −4.6% | −18.5% | +4.7% | +11.0% | −11.2% |
| Net income | 1.5 bn | 2.7 bn | 3.6 bn | 2.3 bn | 9.5 bn | 4.2 bn | 4.8 bn | 1.4 bn |
| Net income YoY | unavailable | +80.2% | +34.6% | −34.6% | +306.0% | −56.0% | +13.9% | −71.5% |
| Diluted EPS | 0.44 | 0.79 | 1.03 | 0.71 | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | +238.5% | +79.5% | +30.4% | −31.1% | unavailable | unavailable | unavailable | unavailable |
| net % | 2.9% | 5.1% | 6.7% | 4.6% | 22.9% | 9.7% | 9.9% | 3.2% |
| Free cash flow | 5.0 bn | 5.3 bn | 5.4 bn | 8.6 bn | 5.5 bn | 4.1 bn | 6.9 bn | 6.2 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 1.8 bn USD
- Financial debt
- 22.9 bn USD
- Net debt
- 21.1 bn USD
- Equity
- 21.3 bn USD
- Total assets
- 88.5 bn USD
- Debt / equity
- 1.07x
- Current ratio
- 0.72x
- ROE
- 5.9%
- ROA
- 1.5%
- FCF margin
- 14.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 53.5 bn | 51.0 bn | 41.6 bn | 43.5 bn | 48.3 bn | 42.9 bn | SEC (XBRL)· 14 May 2025verified |
| Cost of revenue | 25.0 bn | 23.6 bn | 16.6 bn | 17.0 bn | 18.7 bn | 16.3 bn | SEC (XBRL)· 14 May 2025verified |
| Gross profit | 28.4 bn ≈ | 27.4 bn ≈ | 25.0 bn ≈ | 26.5 bn ≈ | 29.6 bn ≈ | 26.5 bn ≈ | SEC (XBRL)· 14 May 2025derived |
| Operating income | 8.2 bn | 8.3 bn | 8.1 bn | 8.8 bn | 9.9 bn | 8.9 bn | SEC (XBRL)· 14 May 2025verified |
| Depreciation & amortisation | 8.4 bn | 8.2 bn | 7.9 bn | 8.2 bn | 9.0 bn | 8.1 bn | SEC (XBRL)· 14 May 2025verified |
| EBITDA | 16.7 bn ≈ | 16.5 bn ≈ | 16.0 bn ≈ | 17.0 bn ≈ | 18.9 bn ≈ | 17.0 bn ≈ | SEC (XBRL)· 14 May 2025derived |
| Pre-tax income | 6.4 bn | 3.4 bn | 5.0 bn | 6.9 bn | 6.8 bn | 3.1 bn | SEC (XBRL)· 14 May 2025verified |
| Income tax | 2.7 bn | 820.0 m | 1.4 bn | 2.4 bn | 2.0 bn | 1.7 bn | SEC (XBRL)· 14 May 2025verified |
| Net income | 3.6 bn | 2.3 bn | 9.5 bn | 4.2 bn | 4.8 bn | 1.4 bn | SEC (XBRL)· 14 May 2025verified |
| Diluted EPS | 1.03 | 0.71 | — | — | — | — | SEC (XBRL)· 29 Apr 2021verified |
| Dividend per share | — | — | — | — | 0.03 | 0.03 | SEC (XBRL)· 14 May 2025derived |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 990.0 m | 1.7 bn | 2.0 bn | 2.0 bn | 1.3 bn | 1.8 bn | SEC (XBRL)· 14 May 2025verified |
| Receivables | 10.9 bn | 10.4 bn | 9.9 bn | 10.3 bn | 12.2 bn | 10.9 bn | SEC (XBRL)· 14 May 2025verified |
| Inventories | 2.2 bn | 1.5 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.2 bn | SEC (XBRL)· 14 May 2025verified |
| Current assets | 17.6 bn | 18.1 bn | 19.6 bn | 18.6 bn | 20.1 bn | 17.5 bn | SEC (XBRL)· 14 May 2025verified |
| Property, plant & equipment, net | 33.9 bn | 36.2 bn | 35.5 bn | 33.9 bn | 37.2 bn | 35.2 bn | SEC (XBRL)· 14 May 2025verified |
| Goodwill | 8.1 bn | 7.2 bn | 6.6 bn | 7.3 bn | 8.6 bn | 7.7 bn | SEC (XBRL)· 14 May 2025verified |
| Intangibles (excl. goodwill) | 6.6 bn | 6.7 bn | 7.0 bn | 6.6 bn | 7.2 bn | 7.0 bn | SEC (XBRL)· 14 May 2025verified |
| Total assets | 81.3 bn | 81.5 bn | 82.1 bn | 83.3 bn | 92.6 bn | 88.5 bn | SEC (XBRL)· 14 May 2025verified |
| Accounts payable | 11.5 bn | 9.4 bn | 10.0 bn | 9.0 bn | 9.6 bn | 8.2 bn | SEC (XBRL)· 14 May 2025verified |
| Short-term debt | 396.2 bn | — | — | — | — | — | SEC (XBRL)· 30 Apr 2020verified |
| Long-term debt | 26.3 bn | 24.1 bn | 20.3 bn | 21.0 bn | 20.1 bn | 22.9 bn | SEC (XBRL)· 14 May 2025verified |
| Current liabilities | 27.9 bn | 25.4 bn | 25.9 bn | 25.2 bn | 31.0 bn | 24.4 bn | SEC (XBRL)· 14 May 2025verified |
| Total liabilities | 69.2 bn | 65.7 bn | 60.0 bn | 60.8 bn | 67.6 bn | 67.2 bn | SEC (XBRL)· 14 May 2025verified |
| Equity | 12.0 bn | 15.8 bn | 22.1 bn | 22.6 bn | 25.0 bn | 21.3 bn | SEC (XBRL)· 14 May 2025verified |
| Shares outstanding at year end | — | — | — | — | 62.5 bn | 61.0 bn | SEC (XBRL)· 14 May 2025verified |
Cash flow · USD
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 12.4 bn | 14.1 bn | 12.5 bn | 11.6 bn | 14.7 bn | 11.8 bn | SEC (XBRL)· 14 May 2025verified |
| Capex | 7.1 bn | 5.5 bn | 7.1 bn | 7.5 bn | 7.8 bn | 5.6 bn | SEC (XBRL)· 14 May 2025verified |
| Free cash flow | 5.4 bn ≈ | 8.6 bn ≈ | 5.5 bn ≈ | 4.1 bn ≈ | 6.9 bn ≈ | 6.2 bn ≈ | SEC (XBRL)· 14 May 2025derived |
| Investing cash flow | -8.7 bn | -6.8 bn | -3.7 bn | -7.8 bn | -9.8 bn | -6.4 bn | SEC (XBRL)· 14 May 2025verified |
| Financing cash flow | -3.8 bn | -6.4 bn | -8.6 bn | -3.8 bn | -5.0 bn | -5.1 bn | SEC (XBRL)· 14 May 2025verified |
| Dividends paid | 1.3 bn | 481.0 m | 1.4 bn | 1.5 bn | 1.8 bn | 1.5 bn | SEC (XBRL)· 14 May 2025verified |
| Share repurchases | 23.0 m | 254.0 m | 1.8 bn | 1.3 bn | 848.0 m | 1.1 bn | SEC (XBRL)· 14 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 29 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1,508.4 bn USD
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
- Balance sheet19
- Valuation1
- Quality73
- Growth9
- Returns42
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.16 – 1.58 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA0.22 – 1.58 (Mid 0.59)7 companies used · median multiple 3.3x · quartiles 2.0x – 6.8xATNI, LUMN, SHEN, T, TDS, UNIT, VZ
- Peers: P/E0.16 – 0.38 (Mid 0.27)7 companies used · median multiple 11.8x · quartiles 6.9x – 17.0xATEX, ATNI, IDT, T, TDS, UNIT, VZ
- Dividend discount (DDM)0.33 – 0.44 (Mid 0.38)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 29/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 17.3% | 77 (vs peers) | 12% |
| Net margin · Quality | 3.2% | 40 (vs peers) | 7% |
| FCF conversion · Quality | 457.3% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 1.0% | 9 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 1.2x | 27 (vs peers) | 12% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 1,107.5x | 0 (vs peers) | 12% |
| EV/EBITDA · Valuation | 90.1x | 0 (vs peers) | 12% |
| FCF yield · Valuation | 0.4% | 5 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | 0.2% | 3 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 24.6% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet19/100 · 2/3 factors with a value
- Growth· partial9/100 · 1/2 factors with a value
- Quality73/100 · 3/3 factors with a value
- Returns42/100 · 2/2 factors with a value
- Valuation1/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AMERICA MOVIL SAB DE CV/ (AMX). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 42.9 bn USD in 2024; YoY growth -11.2%; net margin 3.2%; ROE 6.8%; net debt/EBITDA 1.2x.
The estimated value range is 0.22–0.44 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 0.38 USD, the price of 25.03 USD leaves a potential of -98.5% (value / price − 1) and a margin of safety of -6,520.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 29/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 17.3%
- FCF conversion: 457.3%
- Payout ratio (FCF): 24.6%
What contradicts it
- Revenue CAGR 3Y: 1.0%
- Net debt / EBITDA: 1.2x
- Current ratio: 0.7x
- P/E (TTM): 1,107.5x
- EV/EBITDA: 90.1x
- FCF yield: 0.4%
- Shareholder yield (distributions): 0.2%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Interest coverage.
Versus the vertical median
Telephone Communications (No Radiotelephone) (SIC 4813) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AMXAmerica Movil Sab De Cv | 1,508.4 bn | 1,107.5 | 6.8% | 3.2% | −11.2% | +11% / +45% |
| VZVerizon Communications Inc. | 191.4 bn | 11.8 | 15.4% | 11.8% | +2.5% | +12% / +20% |
| TAt&T Inc. | 147.1 bn | 11.8 | 10.5% | 10.2% | +2.7% | −16% / +32% |
| LUMNLumen Technologies, Inc. | 4.6 bn | — | — | -5.8% | −5.4% | −45% / +241% |
| TDSTelephone And Data Systems, Inc. | 4.1 bn | 11.4 | 8.2% | 33.2% | −5.3% | −11% / +83% |
| ATEXAnterix Inc. | 1.5 bn | 22.2 | 27.9% | 933.0% | +7.8% | +278% / +138% |
| UNITUniti Group Inc. | 1.3 bn | 1.7 | 666.9% | 30.4% | +91.5% | −14% / −41% |
| SHENShenandoah Telecommunications Company | 575.2 m | — | -4.4% | -10.2% | +9.1% | −5% / −53% |
| ATNIAtn International, Inc. | 397.3 m | 2.4 | 32.2% | 23.2% | −0.2% | +22% / −15% |
| CXDOCrexendo, Inc. | 174.7 m | 43.6 | 5.6% | 4.5% | +12.0% | −25% / +78% |
| NXPLNextPlat Corp | 21.8 m | — | -43.1% | -17.8% | −17.8% | +34% / −47% |
| IQSTIQSTEL Inc. | 9.0 m | — | -56.0% | -2.2% | +11.9% | −80% / −94% |
| SURGSurgepays, Inc. | 8.2 m | — | — | -47.9% | −6.4% | −92% / −98% |
| KTKT Corporation | — | — | 2.8% | 1.7% | +0.4% | +1% / +41% |
| CTGGQwest Corp | 0 | — | -15.8% | -40.1% | −13.8% | unavailable / unavailable |
| TKCTurkcell Iletisim Hizmetleri A S | — | — | 10.8% | 11.7% | +14.6% | −15% / −5% |
| TIMBTim S.A. | — | — | 17.1% | 16.2% | +4.6% | −22% / +3% |
| PHIPLDT Inc. | — | — | 29.3% | 14.9% | +2.8% | −19% / −22% |
| BCEBce Inc. | — | — | 32.5% | 26.6% | +0.2% | −10% / −46% |
| IDTIDT Corporation | — | 24.3 | 25.4% | 6.7% | +5.4% | +69% / +186% |
| TEOTelecom Argentina SA | — | — | -2.4% | -2.0% | +53.0% | −17% / +26% |
1- and 3-year price returns: for AMX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 14.28 Total return -43% · Per year -43% | 25.29 Total return 1% · Per year 1% | 38.16 Total return 52% · Per year 52% |
| 3 years | 12.92 Total return -48% · Per year -20% | 25.83 Total return 3% · Per year 1% | 42.91 Total return 71% · Per year 20% |
| 5 years | 11.68 Total return -53% · Per year -14% | 26.37 Total return 5% · Per year 1% | 48.26 Total return 93% · Per year 14% |
- Exit P/E± 6.46
- Net margin± 4.52
- Annual revenue growth± 3.84
- Annual dilution± 0.38
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Apr 2026; since then the company filed 6-K (22 Oct 2026), 6-K (02 Oct 2026), 6-K (23 Jul 2026), 6-K (21 Jul 2026), 6-K (01 Jun 2026), 6-K (29 Apr 2026).
In brief
América Móvil is the leading telecommunications services provider in Latin America, operating in 23 countries with first-place positions in wireless, fixed-line, broadband and Pay TV by RGUs. The company reported total operating revenues of Ps.943.6 billion for fiscal 2025 1, while investment in networks and 5G remains central to its strategy.
SWOT
Strengths
- Leading position in several service categories in Latin America, with integrated networks and a broad geographic footprint supported by well-recognised brands 1.
- Geographic diversification provides stability in cash flow and profitability, which has supported strong credit ratings 1.
- Extensive owned network including fiber, submarine cables, satellites and data centers, offering a durable competitive advantage 1.
Weaknesses
- Reporting in Mexican pesos means results are affected by exchange rate movements against operating currencies 1.
- Declining Pay TV and fixed voice RGUs point to erosion of some traditional revenue lines 1.
- Subscriber acquisition, retention and customer service costs are rising faster than revenues in some segments, reducing margins 1.
Opportunities
- Rising demand for data and connectivity could support fixed and mobile revenues if 5G and fiber rollouts continue 1.
- The exit of some competitors from certain markets could open room for consolidation or strategic acquisitions 1.
- OTT, cloud and enterprise IT solutions could open revenue streams beyond traditional voice and TV 1.
Threats
- Intense competition and falling demand for voice and traditional Pay TV could pressure prices and market share 1.
- Regulatory changes and economic or political instability in the region could affect results 1.
- Volatility in exchange rates and financial markets can produce gains or losses that affect reported profit 1.
Risks
- Intense competitionhigh
Competitive pressure on prices and subscriber acquisition costs could reduce margins and market share 1.
- Regulationhigh
The company operates in a regulated industry, and regulatory changes can alter results and operating conditions 1.
- Currency exposuremedium
Most debt is issued out of Mexico, so exchange rate movements can produce gains or losses on foreign currency and derivatives 1.
- Economic instabilitymedium
Inflation, tariffs and market volatility in the region can affect demand and operating costs 1.
- Heavy investment needsmedium
High capital expenditure for networks and spectrum could limit free cash flow if demand growth is insufficient 1.
Investment thesis
What would need to be true (bull case)
- Leadership across several service categories and an integrated network could support long-term revenue growth if demand for data continues 1.
- Geographic diversification and expansion into Europe could stabilise cash flows and support growth 1.
- The exit of some competitors from the region could create consolidation opportunities and room to gain market share 1.
What would break the thesis
- Falling demand for voice and traditional Pay TV could erode revenues from legacy lines faster than data growth replaces them 1.
- Competitive pressure and high subscriber acquisition and retention costs could limit margin expansion 1.
- Currency volatility and economic instability in the region could affect reported results 1.
What to watch
- Level of capital expenditure relative to connectivity demand2026
- Effects of the Claro Chile consolidation on operating marginsQ1 2027
- Competitive dynamics after Telefónica's exit and Millicom's role2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 28 Apr 2026; since then the company filed 6-K (22 Oct 2026), 6-K (02 Oct 2026), 6-K (23 Jul 2026), 6-K (21 Jul 2026), 6-K (01 Jun 2026), 6-K (29 Apr 2026).
The business
Activities are organised into ten reportable segments, and performance depends on the competitive landscape, regulation and economic conditions in each country 1. Results are reported in Mexican pesos, so exchange rate movements against the euro, U.S. dollar, Brazilian real or Colombian peso affect consolidated figures 1.
Market context
Demand for traditional voice services is declining while demand for data, fiber networks and connectivity is rising, which changes the revenue mix of operators 1. The company links higher capital expenditure to growing demand for connectivity 1. Regulation and economic instability in the region remain factors that could influence medium-term results 1.
Trends
- Growing demand for datatailwind
Demand for data over fixed and mobile networks, and for smartphones with stronger data capabilities, supports data service and equipment revenues 1.
- Decline of voice and traditional Pay TVheadwind
Demand for voice and traditional TV is falling, which could pressure revenues from these lines if not offset by new services 1.
- Cost and competitive pressuremixed
Rising costs for marketing, subscriber acquisition and retention, customer care and wages weigh on margins, although cost savings programmes soften the effect 1.
- Network and 5G investmentmixed
Higher capital expenditure tied to connectivity demand and 5G expansion can sustain the network advantage, but it raises depreciation and financial burden 1.
Competitive position
The company competes with multinational operators such as AT&T Inc., Telefónica and Millicom, as well as national providers such as Telecom Argentina in Argentina and Telecom Italia in Brazil 1. Telefónica's gradual exit from some Latin American markets could make Millicom the second-largest competitor in the region by footprint and subscriber base 1.
Competitive factors include pricing, brand recognition, service offerings, customer experience, network coverage and quality, and spectrum availability 1. Competition can lead to loss of market share and pressure to reduce rates 1.
- AT&T Inc.T
Multinational telecommunications operator cited as a competitor in wireless, broadband and Pay TV.
- Telefónica
Multinational operator repositioning its strategy and gradually exiting some Latin American markets.
- Millicom
Operator that could become the second-largest competitor in Latin America by footprint and subscriber base.
- Telecom Argentina
National telecommunications provider in the Argentine market.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Alfaro pide a UPN que apoye los decretos de Vivienda , cuando Podemos , su formación , aún no lo tiene claroSurge — GDELT DOC · 30 Sept 2026 · RO
The latest news item in our archive is from 30 Sept 2026; the newest SEC filing is from 22 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)22 Oct 2026
- Current report (foreign issuer)02 Oct 2026
- Current report (foreign issuer)23 Jul 2026
- Current report (foreign issuer)21 Jul 2026
- Current report (foreign issuer)01 Jun 2026
- Current report (foreign issuer)29 Apr 2026
- Annual report (foreign issuer)28 Apr 2026
- Current report (foreign issuer)24 Apr 2026
- Current report (foreign issuer)23 Apr 2026
- Current report (foreign issuer)23 Mar 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / América Móvil, S.A.B. de C.V. · 28 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.