Grupo Televisa, S.A.B. (TV) AI Stock Analysis

• Market Cap: $1.41B
• Dividend Yield: 3.03%
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.46
• Revenue Growth: -18.28%
• EPS Growth: -42.53%
• Country: US
• Employees: 27,082
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): -0.61
• Shares Outstanding: 477,500,000
• 10 Day Avg. Volume: 1,677,605
• 30 Day Avg. Volume: 1,514,766
• PEG Ratio: -0.12
• Price to Book (P/B): 0.25
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 5.86
• Enterprise Value/Market Cap: 58.36
• Enterprise Value/Revenue: 1.40
• Enterprise Value/Gross Profit: 3.67
• Enterprise Value/Ebitda: 4.03
• 1Y Price Target: $6.65
• Price Target Upside: 125.42% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.16
• Revenue Forecast (FY): $3.23B

• Rating: 47 Neutral
• Price Target: $3.00 ▲(1.69% Upside)
• Action: Reiterated Date: 03/16/26
• Date: Action: Reiterated 03/16/26

The score is held down primarily by weak financial performance (ongoing net losses and declining revenue) and bearish technical momentum (below key moving averages with weak RSI/MACD). Partially offsetting this are positive earnings-call signals around margin improvement, free cash flow and deleveraging, plus a moderate dividend yield, though guidance implies sustained elevated CapEx and the dividend suspension is a notable negative.

Positive Factors

Operational efficiency and margin expansion

Sustained OpEx cuts and integration gains that lifted operating segment margin by 100 bps improve structural cost competitiveness and margin resilience. This enhances cash generation potential, funds reinvestment, and gives flexibility to compete on content and distribution over the medium term.

Free cash flow generation and deleveraging

Meaningful free cash flow that enabled debt prepayment and a measurable leverage decline strengthens balance sheet flexibility. Lower leverage reduces refinancing risk and interest burden, supporting investment and strategic choices across the next several quarters without relying on volatile capital markets.

Subscriber growth in internet and mobile

Net additions in mobile (and reported internet subscriber growth) indicate durable traction in recurring revenue channels. Growing core subscriptions supports steady cash inflows, cross-sell opportunities, and ARPU stability, helping offset declines in legacy video segments over multiple quarters.

Negative Factors

Significant Sky subscriber losses

Large, concentrated losses in Sky's RGUs and revenue signal structural erosion in a traditionally high-value segment. Persistent subscriber attrition reduces scale, weakens ad and affiliate leverage, and pressures long-term revenue mix and profitability unless competitive dynamics or product offerings materially improve.

Declining revenues and negative profitability margins

Sustained revenue declines and negative net and EBIT margins undermine the firm's ability to self-fund growth and returns. Even with EBITDA positivity, conversion to net profit is weak, limiting reinvestment capacity and making performance vulnerable to cyclical ad markets and content cost pressures over the medium term.

Credit rating downgrade and elevated leverage risk

A recent downgrade increases funding costs and reduces debt market access, amplifying refinancing and liquidity risks. For a capital-intensive media and telecom business, higher borrowing costs and constrained credit capacity can limit strategic investments and slow deleveraging progress over subsequent quarters.

Grupo Televisa, S.A.B. Business Overview & Revenue Model

Company Description

Grupo Televisa, S.A.B., together with its subsidiaries, owns and operates cable companies and provides direct-to-home satellite pay television system in Mexico and internationally. It operates through Cable and Sky segments. The company offers basic and premium television subscription, pay-per-view, installation, internet subscription, and telephone and mobile services subscription, as well as local and national advertising services; and data and long-distance services solutions to carriers and other telecommunications service providers through its fiber-optic network. It also provides direct-to-home broadcast satellite pay television services comprising program, installation, and equipment rental services to subscribers; and national advertising sales. Grupo Televisa, S.A.B. was founded in 1969 and is headquartered in Mexico City, Mexico.

How the Company Makes Money

Televisa’s core monetization model combines (1) advertising sales tied to audience reach and (2) subscription-related revenue tied to pay-television distribution, supplemented by (3) content licensing and syndication. 1) Advertising revenue (broadcast and other ad inventory): Televisa sells advertising time and sponsorship packages around its programming. Revenue is driven by viewership levels, pricing (CPM/rates), and demand from national and local advertisers. Sports and prime-time entertainment generally command higher rates, and special events can lift ad yields. Televisa may also generate advertising-related fees through integrated marketing, product placement, and branded content sold alongside traditional spots. 2) Subscription and distribution revenue (pay-TV): Televisa has historically earned recurring revenue from pay-television services (e.g., cable/satellite and related telecommunications offerings where applicable) through monthly subscriber fees. These revenues typically include basic video subscriptions and may include add-ons such as premium channels, advanced services (e.g., DVR/HD packages), and bundled offerings. Economics are influenced by subscriber counts, churn, average revenue per user (ARPU), and network/service costs. 3) Content licensing and syndication: Televisa monetizes its library and new productions by licensing content to third-party networks and platforms (domestically and internationally). This can include selling finished programming, format rights, and distribution rights for series and telenovelas, as well as licensing sports-related content where it holds rights. Revenue depends on the breadth of the library, demand from distributors/streaming platforms, exclusivity terms, and international sales. 4) Other ancillary monetization: Televisa can generate additional income from activities adjacent to media distribution and content, such as channel carriage/affiliate fees where applicable, live events and experiences tied to programming, and merchandising/consumer products linked to popular intellectual property. Specific contribution details are null.

Grupo Televisa, S.A.B. Financial Statement Overview

Summary

Underlying operating margins are healthy, but the company has persistent net losses (negative net margins across 2023–2025) and declining revenue through 2025. The balance sheet is mid-leverage (debt-to-equity ~0.8x–1.1x) but negative ROE reflects weak earnings quality. Cash flow is a relative positive with positive operating cash flow and positive 2025 free cash flow, though free cash flow has been volatile and weakened materially vs. 2024.

Income Statement

Profitability is the key weak spot: net income is negative across 2023–2025 (roughly -13% to -15% net margin), despite generally healthy gross profit and EBITDA margins (about 34%–38% gross margin and ~30%–37% EBITDA margin in 2023–2025). Revenue trajectory is also soft, with declining sales in 2022–2025, including a notable drop in 2025. Offsetting positives include the clear improvement in operating profit from a loss in 2024 to a positive EBIT margin in 2025, indicating some operational recovery even though bottom-line losses persist.

Balance Sheet

Leverage appears manageable-to-moderate for the period with consistent reporting (2022–2025): debt-to-equity sits around ~0.8x–1.1x, suggesting the company is not overly debt-funded relative to equity. However, returns to shareholders are negative in 2023–2025 (negative return on equity), reflecting ongoing losses and limiting balance-sheet quality from an investor-return standpoint. Total assets and equity remain sizable, but the inability to translate that capital base into profits is a meaningful concern.

Cash Flow

Cash generation is mixed but generally more resilient than earnings: operating cash flow is positive each year shown, including 2025. That said, cash-flow strength has been volatile—free cash flow swung from negative (2022 and 2023) to very strong (2024) and then fell sharply in 2025. In 2025, free cash flow remains positive, but it is materially lower than 2024, and operating cash flow covers only about half of near-term obligations implied by the provided coverage ratio, which reduces flexibility if volatility persists.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	55.22B	62.26B	66.22B	68.62B	73.92B
Gross Profit	21.09B	21.14B	22.93B	25.26B	27.26B
EBITDA	20.61B	18.37B	22.14B	17.87B	32.97B
Net Income	-8.27B	-8.25B	-8.42B	44.71B	6.06B
Balance Sheet
Total Assets	229.26B	251.48B	262.67B	299.11B	14.35B
Cash, Cash Equivalents and Short-Term Investments	36.43B	47.49B	32.84B	51.14B	1.26B
Total Debt	91.58B	108.34B	95.83B	113.61B	6.62B
Total Liabilities	126.21B	139.82B	128.00B	154.98B	9.64B
Stockholders Equity	93.54B	102.42B	119.28B	128.31B	3.96B
Cash Flow
Free Cash Flow	3.93B	21.95B	-1.38B	-6.65B	4.23B
Operating Cash Flow	15.36B	32.42B	15.20B	12.47B	29.40B
Investing Cash Flow	-15.59B	-9.68B	-15.76B	42.70B	-19.04B
Financing Cash Flow	-8.92B	-9.28B	-17.75B	-29.77B	-13.84B

Grupo Televisa, S.A.B. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TV, the sentiment is Neutral. The current price of 2.95 is below the 20-day moving average (MA) of 3.03, below the 50-day MA of 3.11, and above the 200-day MA of 2.70, indicating a neutral trend. The MACD of -0.08 indicates Positive momentum. The RSI at 45.69 is Neutral, neither overbought nor oversold. The STOCH value of 73.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TV.

Grupo Televisa, S.A.B. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CMCSA	76 Outperform	$108.22B	5.14	20.98%	4.42%	0.20%	61.54%
VIV	70 Outperform	$25.37B	17.32	9.03%	5.03%	-3.16%	4.70%
AMX	62 Neutral	$72.87B	14.48	17.05%	2.69%	1.14%	83.48%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
CHTR	57 Neutral	$31.63B	5.66	31.24%	―	0.42%	13.46%
TV	47 Neutral	$1.41B	-2.78	-10.73%	3.03%	-18.28%	-42.53%

Grupo Televisa, S.A.B. Corporate Events

Grupo Televisa Reports 2025 Results and Consolidates Cable and Sky Into Single Telecom Segment

On February 26, 2026, Grupo Televisa reported its full-year and fourth-quarter 2025 results, highlighting a 5.4% year-on-year revenue decline to Ps.58.88 billion, mainly from weaker satellite services, and a slight 0.6% drop in operating segment income, although margins improved to 39.1%. The company also completed the operational integration of its Cable and Sky units into a single Telecom segment, while its net loss attributable to stockholders widened to Ps.8.82 billion due largely to non-cash tax-related write-offs and higher losses from associates, partly offset by stronger operating income and lower other and finance expenses.

Televisa’s change in segment reporting reflects a strategic consolidation of its telecom operations, with a unified management team and a consolidated cost structure aimed at capturing efficiencies and synergies across residential, satellite and enterprise services. Despite the larger bottom-line loss driven by tax effects and equity-accounted investments, the improved operating performance and cost efficiencies indicate a business that is strengthening its core operations even as it navigates structural challenges in its satellite business and the legacy impact of expiring tax assets.

The most recent analyst rating on (TV) stock is a Hold with a $3.30 price target. To see the full list of analyst forecasts on Grupo Televisa, S.A.B. stock, see the TV Stock Forecast page.

Grupo Televisa Posts 2025 Loss as Satellite Revenue Falls, Telecom Integration Advances

On February 26, 2026, Televisa reported that 2025 consolidated revenues fell 5.4% to Ps.58.9 billion, mainly on a 17.5% drop in satellite revenues, while operating segment income slipped 0.6% but margin expanded to 39.1% as efficiency measures took hold. The company posted a wider net loss attributable to shareholders of Ps.8.8 billion, largely due to non‑cash write‑offs of deferred tax assets as certain capital loss carryforwards expired, even as operating income and net finance costs improved.

Operationally, Televisa continued to expand its network, passing 117,600 additional homes with fiber‑to‑the‑home to exceed 20 million homes passed, and grew broadband subscribers to 5.7 million and mobile users to 652,900, helped by a relaunched MVNO service in late 2024. The group also completed the integration of its Cable and Sky units into a unified Telecom segment by late 2025, simplifying its cost structure and reporting, but its satellite base shrank 25.9% to 3.8 million RGUs with 1.3 million disconnections, underscoring a strategic shift toward higher‑growth broadband and mobile services despite near‑term revenue pressure.

The most recent analyst rating on (TV) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Grupo Televisa, S.A.B. stock, see the TV Stock Forecast page.

Grupo Televisa Discloses Share Sale Agreement Among Top Executives

On January 5, 2026, Grupo Televisa, S.A.B. reported that controlling shareholders Emilio Azcárraga Jean, Bernardo Gómez Martínez and Alfonso de Angoitia Noriega had entered into an agreement under which Gómez and de Angoitia will each acquire, in equal parts, a minority stake totaling 26,332,332,804 Series A shares from Azcárraga. The transaction, which remains subject to customary closing conditions including approval by Mexico’s competition authority, Comisión Nacional Antimonopolio, signals an internal rebalancing of ownership among Televisa’s top leaders that could subtly reshape governance dynamics while maintaining continuity in strategic direction for investors and other stakeholders.

The most recent analyst rating on (TV) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Grupo Televisa, S.A.B. stock, see the TV Stock Forecast page.