AMERICA MOVIL SAB DE CV/
For the period ended Dec 31, 2025. Filed Apr 28, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Apr 28, 2026
AMX$25.72+2.4%Stored close · as of Nov 6, 2026
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| As filed with the Securities and Exchange Commission on April 28, 2026 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from to Commission file number: 1-16269 AMÉRICA MÓVIL, S.A.B. DE C.V. (exact name of registrant as specified in its charter) America Mobile (translation of registrant’s name into English) United Mexican States (jurisdiction of incorporation) Lago Zurich 245, Plaza Carso / Edificio Telcel, Colonia Ampliación Granada, Alcaldia Miguel Hidalgo, 11529, Mexico City, Mexico (address of principal executive offices) Daniela Lecuona Torras Lago Zurich 245, Plaza Carso / Edificio Telcel, Piso 16, Colonia Ampliación Granada, Alcaldia Miguel Hidalgo 11529 Mexico City, Telephone: (5255) 2581-3700 / Facsimile: (5255) 2581-4422 E-mail: daniela.lecuona@americamovil.com (name, telephone, e-mail and/or facsimile number and address of company contact person) Securities registered pursuant to Section 12(b) of the Act: | |||
|---|---|---|---|
| Title of each class: | Trading symbol | Name of each exchange on which registered | |
| American Depositary Shares, each representing 20 B Shares, without par value | AMX | New York Stock Exchange | |
| 3.625% Senior Notes Due 2029 | AMX29 | New York Stock Exchange | |
| 2.875% Senior Notes Due 2030 | AMX30 | New York Stock Exchange | |
| 4.700% Senior Notes Due 2032 | AMX32 | New York Stock Exchange | |
| 5.000% Senior Notes Due 2033 | AMX33 | New York Stock Exchange | |
| 6.375% Senior Notes Due 2035 | AMX35 | New York Stock Exchange | |
| 6.125% Senior Notes Due 2037 | AMX37 | New York Stock Exchange | |
| 6.125% Senior Notes Due 2040 | AMX40 | New York Stock Exchange | |
| 4.375% Senior Notes Due 2042 | AMX42 | New York Stock Exchange | |
| 4.375% Senior Notes Due 2049 | AMX49 | New York Stock Exchange | |
| Securities registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None The number of outstanding shares of each of the registrant’s classes of capital or common stock as of December 31, 2025: | |||
60,264 million B Shares
| Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. | Yes | ☒ | No | ☐ |
|---|---|---|---|---|
| If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. | Yes | ☐ | No | ☒ |
| Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. | Yes | ☒ | No | ☐ |
| Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). | Yes | ☒ | No | ☐ |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act | ||||
| ☒ | Large accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Emerging growth company |
|---|
| Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. | Yes | ☒ | No | ☐ | |
|---|---|---|---|---|---|
| If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. | Yes | ☐ | No | ☒ | |
| Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). | Yes | ☐ | No | ☒ | |
| Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing | |||||
| ☐ | U.S. GAAP | ☒ | International Financial Reporting Standards as issued by the International Accounting Standards Board | ☐ | Other |
| If “other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. | ☐ Item 17 | ☐ Item 18 | |||
| If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). | Yes | ☐ | No | ☒ | |
(See Form 20-F Cross Reference Guide on page 91)
| SELECTED FINANCIAL DATA | 4 |
|---|---|
| PART I: INFORMATION ON THE COMPANY | 5 |
| ABOUT AMÉRICA MÓVIL | 6 |
| OUR NETWORKS | 11 |
| OUR COMPETITORS | 12 |
| ACQUISITIONS, OTHER INVESTMENTS AND DIVESTITURES | 12 |
| MARKETING, SALES AND DISTRIBUTION, CUSTOMER SERVICES | 13 |
| PART II: OPERATING AND FINANCIAL REVIEW AND PROSPECTS | 14 |
| OVERVIEW | 15 |
| RESULTS OF OPERATIONS | 17 |
| LIQUIDITY AND CAPITAL RESOURCES | 24 |
| PART III: RISK FACTORS | 29 |
| PART IV: SHARE OWNERSHIP AND MAJOR SHAREHOLDERS | 43 |
| MAJOR SHAREHOLDERS | 44 |
| RELATED PARTY TRANSACTIONS | 44 |
| DIVIDENDS | 45 |
| TRADING MARKETS | 45 |
| BYLAWS | 45 |
| PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS | 46 |
| TAXATION OF SHARES AND ADSs | 46 |
| PART V: CORPORATE GOVERNANCE | 52 |
| MANAGEMENT | 53 |
| CORPORATE GOVERNANCE | 59 |
| CONTROLS AND PROCEDURES | 61 |
| INSIDER TRADING | 61 |
| CORPORATE SUSTAINABILITY REPORT | 61 |
| CYBERSECURITY | 62 |
| CODE OF ETHICS | 63 |
| PART VI: REGULATION | 64 |
| PART VII: ADDITIONAL INFORMATION | 84 |
| EMPLOYEES | 85 |
| LEGAL PROCEEDINGS | 85 |
| PRINCIPAL ACCOUNTANT FEES AND SERVICES | 85 |
| ADDITIONAL INFORMATION | 86 |
|---|---|
| FORWARD-LOOKING STATEMENTS | 88 |
| FORM 20-F CROSS REFERENCE GUIDE | 89 |
| SIGNATURES | 91 |
| PART VIII: CONSOLIDATED FINANCIAL STATEMENTS | 92 |
SELECTED
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.