América Móvil (AMXL) Q4 2025 earnings summary

Executive summary

• Added 2.8 million postpaid subscribers in Q4 2025, led by Brazil, Colombia, Peru, and Mexico, with total wireless net adds of 2.5 million and strong prepaid growth in Argentina, Colombia, and Mexico.

• Connected 524,000 new broadband accesses, with Mexico, Brazil, and Argentina as top contributors, and broadband access growth of 5.6% year-over-year.

• Revenue rose 3.4% year-over-year in MXN to 245 billion, with service revenue up 5.3% and EBITDA up 4.2% to 95 billion MXN.

• Net profit reached 19.1 billion MXN, nearly four times higher than the prior year, with EPS of 0.32 MXN per share.

• Ended December with 331 million wireless subscribers and 79 million fixed-line RGUs.

Financial highlights

• Service revenue grew 5.3% year-over-year, with mobile service revenue up 6.2% and postpaid revenue up 7.6%.

• Fixed broadband revenue increased 6.4% year-over-year; fixed line service revenue rose 3.6%.

• Operating profit was 49.1 billion MXN, up 5.9% year-over-year; financing costs were halved compared to last year.

• Free cash flow for 2025 was 82 billion MXN, a nearly 40% year-over-year increase.

• EBITDA margin reached 38.8% in Q4 2025.

Outlook and guidance

• CapEx for 2026 is targeted at 14%-15% of revenues, or approximately $6.8–$7.1 billion, with similar levels expected for the next two to three years.

• Ongoing network investments, 5G rollouts, and fiber expansion are expected to support future growth.

• Broadband net add trends in Mexico are expected to remain strong, supported by high fiber penetration and successful bundling strategies.

• Regulatory changes in Brazil and new 5G spectrum in Europe and Ecuador position the company for long-term growth.

• Mobile service revenue remains stable, with prepaid and postpaid segments complementing each other.