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Broadcasting · Communication Services · Fiscal year ends Dec 31 · Reports in MXN
Grupo Televisa, S.A.B. reported revenue of MXN 58.9B in the fiscal year ended Dec 2025, down 5.4% from the year before. Operating income was MXN 4.2B, an operating margin of 7.2%, and net income was −MXN 8.9B. Operating cash flow of MXN 20.1B less capital expenditure of MXN 12.2B left free cash flow of MXN 7.9B.
Ranks among the 8 broadcasting companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 73,915 | 68,616 | 66,223 | 62,261 | 58,878 |
| Cost of revenue | 46,654 | 43,358 | 43,297 | 41,117 | 36,395 |
| Gross profit | 27,262 | 25,258 | 22,925 | 21,144 | 22,483 |
| Operating income | 10,689 | 3,738 | 1,858 | −2,819 | 4,225 |
| Interest expense | 9,106 | 9,529 | 7,742 | 7,976 | 7,509 |
| Pre-tax income | 2,442 | −12,897 | −7,075 | −7,697 | −1,004 |
| Income tax | 1,673 | −1,353 | 2,361 | 689 | 7,932 |
| Net income | 7,355 | 45,284 | −8,807 | −8,328 | −8,935 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 25,828 | 51,131 | 32,586 | 46,193 | 27,607 |
| Receivables | 13,093 | 8,457 | 8,131 | 6,176 | 5,721 |
| Inventory | 2,213 | 1,448 | 1,261 | 463 | 585 |
| Current assets | 73,259 | 81,577 | 62,105 | 68,268 | 60,216 |
| Net PP&E | 87,922 | 82,236 | 77,849 | 63,664 | 60,698 |
| Goodwill | – | – | – | 13,455 | 13,455 |
| Total assets | 293,742 | 299,108 | 262,670 | 251,658 | 228,418 |
| Payables | 22,874 | 16,084 | 12,861 | 11,330 | 14,040 |
| Current liabilities | 56,670 | 34,371 | 34,891 | 27,303 | 28,105 |
| Short-term debt | 4,106 | 1,000 | 9,988 | 4,557 | 3,737 |
| Total liabilities | 197,218 | 154,978 | 127,998 | 139,962 | 125,889 |
| Shareholders' equity | 81,118 | 128,308 | 119,280 | 102,454 | 93,056 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 29,324 | 12,468 | 15,201 | 32,554 | 20,092 |
| Capital expenditure | 23,268 | 17,315 | 14,708 | 9,097 | 12,187 |
| Free cash flow | 6,056 | −4,848 | 493 | 23,457 | 7,906 |
| Depreciation & amortisation | 21,748 | 21,593 | 21,107 | 20,511 | 17,161 |
| Stock-based compensation | 904 | 969 | 749 | 489 | 374 |
| Dividends paid | 1,053 | 1,053 | 1,027 | 1,019 | 1,019 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −7.2% | −3.5% | −6.0% | −5.4% |
| Operating income growth (YoY) | – | −65.0% | −50.3% | −251.7% | – |
| Gross margin | 36.9% | 36.8% | 34.6% | 34.0% | 38.2% |
| Operating margin | 14.5% | 5.4% | 2.8% | −4.5% | 7.2% |
| Net margin | 10.0% | 66.0% | −13.3% | −13.4% | −15.2% |
| Return on equityBlank when equity is negative | 9.1% | 35.3% | −7.4% | −8.1% | −9.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.5% | 1.4% | 0.8% | −1.3% | 2.1% |
| Free cash flow margin | 8.2% | −7.1% | 0.7% | 37.7% | 13.4% |
| Cash conversion (CFO ÷ net income) | 3.99x | 0.28x | −1.73x | −3.91x | −2.25x |
| Receivable days | 65 | 45 | 45 | 36 | 35 |
| Inventory days | 17 | 12 | 11 | 4 | 6 |
| Payable days | 179 | 135 | 108 | 101 | 141 |
| Interest cover | 1.17x | 0.39x | 0.24x | −0.35x | 0.56x |
| Current ratio | 1.29x | 2.37x | 1.78x | 2.50x | 2.14x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.