Grupo Televisa, S.A.B. (TV) Cash Flow: Operating & Free Cash Flow

Grupo Televisa, S.A.B. (TV) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Grupo Televisa, S.A.B. generated MXN 23.20B of operating cash flow and spent MXN 13.47B on capital expenditures. That left free cash flow of MXN 9.72B, down 58.6% from MXN 23.46B a year earlier, or 16.5% of revenue. It returned MXN 1.61B to shareholders through MXN 1.02B in dividends and MXN 594.20M in share buybacks.

Grupo Televisa, S.A.B. Cash Flow Statement Analysis

Values in billions MXN

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Grupo Televisa, S.A.B. (TV) - Annual data in billions MXN
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-8.56	-7.63	-6.13	63.25	14.10	5.53	8.78	12.01	10.85
Depreciation & Amortization	17.16	20.59	21.47	21.59	21.42	21.26	21.01	19.83	18.54
Deferred Income Tax	7.93	-0.60	2.44	-0.90	7.49	5.00	2.78	0.00	0.00
Stock Based Compensation	0.37	0.49	0.75	1.67	1.09	0.98	1.13	1.33	1.49
Change in Working Capital	4.06	4.11	-2.52	-4.20	-3.77	-1.33	-6.93	-2.17	-6.34
Change in Accounts Receivable	1.26	3.79	3.50	2.05	-4.86	-2.23	2.20	1.78	-0.88
Change in Inventory	0.47	1.10	0.56	-0.59	-0.57	-0.52	-0.13	0.44	0.36
Change in Accounts Payable	3.03	-0.74	-2.40	-0.12	0.32	1.01	-1.89	2.09	-2.70
Change in Other Working Capital	-0.70	-0.33	-4.18	-17.93	1.34	0.41	-7.12	-6.48	-3.12
Other Operating Activities	2.24	15.81	-0.81	-57.72	-11.00	1.71	0.51	2.71	0.56
Net Cash from Operating Activities	23.20	32.55	15.20	12.47	29.32	33.16	27.27	33.71	25.10
Investing Activities
Capital Expenditures	-13.47	-9.10	-16.58	-17.32	-25.17	-21.37	-21.22	-26.27	-18.54
Acquisitions	0.01	0.05	0.05	-0.01	4.75	1.37	0.15	0.21	-0.16
Purchases of Investments	0.00	0.05	0.00	-0.01	-1.12	-0.60	-0.03	-0.07	-0.26
Sales/Maturities of Investments	0.00	0.05	0.00	-0.01	2.01	3.16	2.33	6.68	0.58
Other Investing Activities	-4.44	0.79	-1.10	-4.52	-1.22	0.29	-0.35	-12.22	-0.73
Net Cash from Investing Activities	-16.62	-9.01	-15.76	42.70	-18.85	-15.92	-17.00	-23.90	-17.33
Financing Activities
Debt Repayment	-8.37	-11.57	-8.09	-18.40	-3.72	-6.19	-0.48	-2.03	-2.66
Common Stock Issued	0.00	0.38	0.17	0.98	0.77	0.11	0.10	1.95	2.30
Common Stock Repurchased	-0.59	-0.51	-1.46	-2.26	-1.10	-0.50	-1.49	-4.60	-5.19
Dividends Paid	-1.02	-1.02	-1.03	-1.05	-1.05	0.00	-1.07	-1.07	-1.08
Other Financing Activities	-6.34	-6.67	-7.75	-9.04	-11.28	-9.61	-11.37	-10.76	-9.84
Net Cash from Financing Activities	-16.32	-9.39	-18.15	-29.77	-16.38	-16.20	-14.30	-16.50	-16.47
Summary
Effect of Forex Changes on Cash	-0.07	0.15	-0.23	-0.10	0.02	-0.01	-0.06	0.02	-0.11
Net Change in Cash	-9.82	13.61	-18.94	25.30	-5.88	1.61	-4.62	-6.67	-8.81
Cash at Beginning of Period	46.19	32.59	51.13	25.83	29.06	27.45	32.07	38.73	47.55
Cash at End of Period	36.38	36.89	32.19	51.13	23.18	29.06	27.45	32.07	38.73
Free Cash Flow	9.72	23.46	-1.38	-4.85	4.16	11.79	6.05	7.44	6.56
Supplemental Disclosures
Interest Paid	-	7.42	7.55	8.89	8.26	9.46	-	-	-
Income Taxes Paid	-	0.81	7.01	12.12	9.17	8.68	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Grupo Televisa, S.A.B. Cash Flow

What is Grupo Televisa, S.A.B.'s free cash flow?

Grupo Televisa, S.A.B. generated free cash flow of MXN 9.72B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of MXN 23.20B minus MXN 13.47B of capital expenditures. That was down 58.6% from MXN 23.46B a year earlier. Free cash flow equaled 16.5% of revenue.

How much does Grupo Televisa, S.A.B. spend on capital expenditures?

Grupo Televisa, S.A.B. spent MXN 13.47B on capital expenditures in fiscal 2025, compared with MXN 9.10B a year earlier. That equals 58.1% of operating cash flow.

Does Grupo Televisa, S.A.B. pay dividends or buy back shares?

Yes. In fiscal 2025 Grupo Televisa, S.A.B. returned MXN 1.02B in dividends and MXN 594.20M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition