TVNYSETelevision Broadcasting StationsFiscal year ends December 31Also trades as GRPFF
GRUPO TELEVISA, S.A.B.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 30, 2026
$2.44−0.03 (-1.21%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
38.2%+2.2 pts over 5 years
Operating margin
7.2%−2.0 pts over 5 years
Net margin
-15.6%−13.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.4% | -5.0% | -3.6% | -3.9% | |
| Gross profit | +6.3% | -3.8% | -2.5% | -5.8% | |
| Operating income | – | +4.2% | -8.1% | -13.8% | |
| Free cash flow | -66.3% | – | -9.5% | +3.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -1.5% | -9.4% | |
| Return on assets | – | -0.4% | -3.8% | |
| Current ratio | 1.67 | 1.58 | 2.14 | |
| Interest coverage | 1.5× | 0.6× | 0.6× | |
| Inventory turnover | – | 32.4× | 69.4× | |
| Capex to revenue | 29.0% | 28.5% | 20.7% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Grupo Televisa, S.A.B. generated 109.64B MXN from operations and spent 81.75B MXN on capital expenditure, dividends and share buybacks. 94% of that went back into the business.
Generated
109.64B MXN
Used
81.75B MXN
Capital expenditure76.58B MXN94%Dividends5.17B MXN6%Share buybacks0 MXN0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-15.6%
×Asset turnover0.25×
×Equity multiplier2.46×
=Return on equity, FY2025-9.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -15.6% | 0.25× | 2.46× | -9.4% |
| FY2024 | -13.3% | 0.24× | 2.32× | -7.5% |
| FY2023 | -12.7% | 0.24× | 2.27× | -6.8% |
| FY2022 | 65.2% | 0.23× | 2.83× | 42.7% |
| FY2021 | 8.2% | 0.26× | 3.66× | 7.8% |
| FY2020 | -1.8% | 0.25× | 3.42× | -1.5% |
| FY2018 | 5.9% | 0.34× | 3.39× | 6.9% |
| FY2017 | 4.8% | 0.31× | 3.58× | 5.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-9.17B MXN
- Cash generatingOperating cash flow above zero20.09B MXN
- Return on assets improvedROA up on the prior year-3.1% → -3.6%
- Earnings backed by cashOperating cash flow above net income20.09B MXN vs -9.17B MXN
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.50 → 2.14
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year33.96% → 38.19%
- More efficientAsset turnover rose0.24 → 0.23