America Movil stock: Cash flow sharpens the growth picture
Published on 10/30/2026 at 16:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSCash Flow Supports Lower Leverage
- América Móvil added 3.1 million postpaid subscribers and 390,000 fixed-broadband accesses in the third quarter.
- Free cash flow increased 41 percent year over year, while net debt excluding leases fell to MXN 400 billion.
- Management kept its leverage target at 1.2 to 1.5 times and expects next year's capital expenditure near USD 7 billion.
America Movil's third-quarter performance added a stronger cash-flow angle to the growth story. Results released on October 20, 2026, showed higher revenue, EBITDA and net profit, while management's October 21 earnings call highlighted lower leverage and continued investment capacity.
According to Yahoo Finance's transcript, third-quarter revenue reached MXN 251 billion, up 7.6 percent year over year. EBITDA rose 6.7 percent at constant exchange rates, the EBITDA margin reached 40.8 percent, and net profit increased 7 percent to MXN 24 billion. Operating profit climbed 13.9 percent to MXN 57 billion.
Postpaid Growth Meets Prepaid Cleanup
Customer trends were mixed. The company added 3.1 million postpaid subscribers and 390,000 fixed-broadband accesses, with Brazil leading postpaid additions. Prepaid subscriptions fell by 5 million, mainly because of customer-base cleanups in Mexico and Colombia. Management said the registration process in Mexico could weigh on prepaid revenue in the short term.
Service revenue increased 5.3 percent at constant exchange rates, while mobile service revenue grew 6.3 percent. Fixed-line revenue growth accelerated to 3.7 percent from 2.7 percent in the preceding quarter, pointing to continued support from higher-value mobile plans and broadband services.
Cash Flow Reduces Balance-Sheet Pressure
Capital expenditure totaled MXN 76 billion in the first nine months and was fully funded by cash flow. Free cash flow increased 41 percent from 2025, allowing the company to reduce net debt by MXN 34 billion in cash-flow terms while returning MXN 27 billion through buybacks and dividends.
Net debt excluding leases stood at MXN 400 billion at quarter-end, equal to 1.21 times EBITDA after leases versus 1.50 times at the end of 2025. Management retained its leverage target of 1.2 to 1.5 times and expects capital expenditure near USD 7 billion next year, with a possible variation of 5 percent above or below that level.
The real-time quote of America Movil stock was 22.10 euros on Lang & Schwarz at 16:28 CEST on Friday, October 30, 2026, 2.79 percent above the 21.50-euro quote in the report published at 11:19 on the same day. The move since that report is separate from the Xetra session comparison.
America Movil company facts
- Company: América Móvil, S.A.B. de C.V.
- ISIN: US02390A1016
- Ticker: AMX
- Quote: 22.10 euros on Lang & Schwarz, October 30, 2026, 16:28 CEST
- Third-quarter revenue: MXN 251 billion, up 7.6 percent year over year
- EBITDA margin: 40.8 percent
- Net debt excluding leases: MXN 400 billion at quarter-end
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