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Largest Telecom Service Providers Public Companies in Mexico
Benchmark revenue and EBITDA valuation multiples for public comps like
América Móvil, Axtel, Megacable and Televisa.
 | America Movil is the largest telecom carrier in Latin America, serving about 330 million wireless customers across the region. It also provides fixed-line phone, internet access, and television services in most of the countries it serves. Mexico is the firm’s largest market, providing about 35% of service revenue. Movil dominates the Mexican wireless market with about 60% customer share and also serves about half of the country's fixed-line internet access customers. Brazil, its second most important market, provides about 20% of service revenue. Movil sold its low-margin wireless resale business in the US to Verizon in 2021 and now owns a 1.4% stake in the US telecom giant. The firm also holds a 61% stake in Telekom Austria. | $1 | +33% | $76B | $114B | 2.1x | 4.9x | ||
| Axtel SAB de CV is a Mexican based information and communication technology company. The company has two operating segments namely Business operating segment offers communication services such as information, data and Internet technologies, managed through the company's network and infrastructure for both multinational companies, as well as for international and national businesses. Its Government operating segment offers communication services such as information, data and Internet technologies, administered through the company's network and infrastructure, for the federal, state and municipal governments. The company generates maximum revenue from the Business segment. Geographically, it derives majority revenue from the Mexico region. | $0 | +21% | $3B | $4B | 5.3x | 15.1x | ||
| Megacable Holdings SAB de CV is a diversified media company with interests in cable television services. The company has several business segments, including Cable Network, Internet, Telephone, Business, and other. The Cable Network segment distributes television broadcasting programs. The Internet segment provides Internet subscription services to corporate clients and individual customers. The Telephone segment provides fixed-line communications services. The Business segment provides IT services to enterprise clients, and the Other business segment provides advertising services. Megacable Holdings SAB de CV generates the majority of its revenue in Mexico. | $3 | +17% | $3B | $4B | 2.0x | 4.4x | ||
| Televisa is one of the leading telecom firms in Mexico. Its cable arm, Izzi, holds networks that pass 20 million Mexican homes and provide broadband service to nearly 6 million customers. The firm is also one of the largest pay-television providers in Mexico, with nearly 4 million customers. Televisa owns Sky Mexico, the country’s only satellite-TV provider, serving about 4 million customers. After merging its traditional media business into Univision, Grupo Televisa owns a 43% stake in the combined entity TelevisaUnivision. Grupo Televisa spun off several smaller businesses, including magazine publishing, three of Mexico's professional soccer teams, and Azteca Stadium in February 2024, under the name Ollamani. | $1 | +14% | $1B | $4B | 1.3x | 3.3x | ||
| Median | $1 | +19% | $3B | $4B | 2.1x | 4.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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