GRUPO TELEVISA, S.A.B. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GRUPO TELEVISA, S.A.B. files with the SEC in its annual reports.

In MXN millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	88,052	96,287	94,274	101,282	101,757	70,680	73,915	68,616	66,223	62,261
Cost of revenue	47,227	52,378	53,535	57,839	59,067	45,220	46,654	43,358	43,297	41,117
Gross profit	40,825	43,910	40,740	43,443	42,690	25,460	27,262	25,258	22,925	21,144
Selling and marketing	9,716	10,901	10,554	11,023	11,099	8,414	8,100	9,155	8,848	8,815
General and administrative	12,035	13,273	13,556	13,729	13,269	11,216	12,190	11,342	11,306	10,593
Operating income	18,745	16,598	14,243	20,253	17,005	6,458	10,689	3,738	1,858	-2,819
Interest expense	8,665	11,032	9,246	10,567	11,275	10,503	12,478	11,385	8,026	8,813
Interest income	8,543	1,499	3,941	1,787	2,464	4,853	560	2,129	3,180	4,118
Pre-tax income	18,658	8,206	10,852	12,006	8,775	-4,931	2,442	-12,897	-7,075	-7,697
Income tax	6,332	2,872	4,274	4,391	2,668	859	1,673	-1,353	2,361	689
Income from continuing operations			6,578	7,615	6,107	-5,790	769	-11,544	-9,435	-8,385
Net income to minority interests	1,426	1,612	2,053	1,606		1,553	1,299	572	-385	-62.9
Net income	10,899	3,721	4,524	6,009	6,107	-1,250	6,056	44,712	-8,423	-8,266
EBITDA	33,686	33,929	33,284	40,531	38,545	28,100	32,436	25,330	23,749	17,771

Balance sheet

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Cash and equivalents	49,397	47,546	38,735	32,068	27,452	29,058	25,828	51,131	32,586	46,193
Short-term investments		5,498	6,014	31
Receivables		24,906	24,727	19,749	14,486	12,344	13,093	8,457	8,131	6,176
Inventory		1,899	1,493	1,026	1,151	1,641	2,213	1,448	1,261	463
Total current assets		95,761	87,045	72,053	67,431	69,061	73,259	81,577	62,105	68,268
Property, plant and equipment	76,089	86,784	85,720	87,343	83,329	83,282	87,922	82,236	77,849	63,664
Lease right-of-use assets				8,200	7,553	7,212	7,605	6,670	6,086	3,337
Total assets		309,054	297,220	297,171	290,344	271,246	293,742	299,108	262,670	251,658
Accounts payable		22,878	19,960	22,030	20,910	21,943	22,874	16,084	12,861	11,330
Total current liabilities		57,426	50,765	48,531	42,165	43,710	56,670	34,371	34,891	27,303
Lease liabilities				4,666	8,106	8,015	8,202	6,996	6,011	4,144
Total liabilities		212,770	197,563	192,640	184,719	183,307	197,218	154,978	127,998	139,962
Retained earnings		70,396	74,984	78,511	82,652	84,280	88,218	131,054	120,400	112,041
Shareholders' equity		83,792	85,662	89,517	90,751	73,442	81,118	128,308	119,280	102,454
Minority interests		12,492	13,995	15,014	14,874	14,497	15,406	15,822	15,392	9,242
Total equity	99,522	96,284	99,878	104,752	105,625	87,939	96,524	144,130	134,672	111,696
Total liabilities and equity		309,054	297,220	297,171	290,344	271,246	293,742	299,108	262,670	251,658

Cash flow statement

	FY2015	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
Net income	12,325	5,333	6,578	7,615	6,107	303	7,355	45,284	-8,807	-8,328
Depreciation and amortization	14,941	17,331	19,041	20,279	21,540	21,642	21,748	21,593	21,891	20,590
Cash from operations	31,286	36,657	25,100	33,714	27,269	33,161	29,324	12,468	15,201	32,554
Capital expenditures	-25,524	-27,942	-16,760	-18,500	-19,108	-20,132	-23,268	-17,315	-14,708	-9,097
Cash from investing	-23,782	-29,000	-17,331	-23,898	-17,005	-15,920	-18,845	42,705	-15,758	-9,010
Debt issued	2,488	5,728	5,973		10,000		2,650
Debt repaid	-883	-73.9	-852	-307	-989	-492	-242	-610
Share buybacks	-734	-1,721	-2,302	-1,954
Dividends paid	-1,084	-1,084	-1,084	-1,069	-1,066		-1,053	-1,053	-1,027	-1,019
Cash from financing	12,033	-9,991	-16,469	-16,505	-14,302	-16,195	-13,732	-29,769	-17,753	-9,389
Exchange rate effect	131	483	-110	22	-60.4	-11.5	23.5	-100	-235	148
Net change in cash	19,668	-1,851	-8,811	-6,667	-4,098	1,034	-3,230	25,303	-18,545	14,304
Free cash flow	5,761	8,715	8,340	15,215	8,161	13,029	6,056	-4,848	493	23,457

Key metrics

Worked out from the statements above. Latest values use fiscal 2024. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Gross margin	34.0%	Gross profit / revenue.
Operating margin	-4.5%	Operating income / revenue.
EBITDA margin	28.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-12.4%	Pre-tax income / revenue.
Net margin	-13.3%	Net income / revenue.
FCF margin	37.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	52.3%	Cash from operations / revenue.
Return on equity (ROE)	-7.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-3.2%	Net income / average total assets.
Return on invested capital (ROIC)	-3.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	14.6%	Capital expenditures / revenue.
D&A / revenue	33.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-9.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-7.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-8.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-13.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-251.7%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-25.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-18.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-14.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	114.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	3.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	4,654.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	57.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	23.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-14.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.50x	Current assets / current liabilities.
Quick ratio	1.92x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.69x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	55.6%	Total liabilities / total assets.
Interest coverage	-0.32x	Operating income / interest expense.
Working capital	MX$40.96B	Current assets - current liabilities.
Tangible book value	MX$102.45B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.24x	Revenue / average total assets.
Fixed asset turnover	0.88x	Revenue / average property, plant and equipment.
Inventory turnover	47.7x	Cost of revenue / average inventory.
Days inventory	8 days	365 x average inventory / cost of revenue.
Receivables turnover	8.70x	Revenue / average receivables.
Days sales outstanding	42 days	365 x average receivables / revenue.
Days payables	107 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-58 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	27.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
Dividends / FCF	4.3%	Dividends paid / free cash flow, when free cash flow is positive.

What was GRUPO TELEVISA, S.A.B.'s revenue in fiscal 2024?

GRUPO TELEVISA, S.A.B. reported revenue of MX$62.26B for fiscal 2024, 6% lower than the year before.

Was GRUPO TELEVISA, S.A.B. profitable in fiscal 2024?

No. It reported a net loss of MX$8.27B.

How much free cash flow did GRUPO TELEVISA, S.A.B. generate in fiscal 2024?

Cash from operations of MX$32.55B minus capital expenditures of MX$9.10B left free cash flow of MX$23.46B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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