Telefônica Brasil S.A. ADR (VIV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.14	$0.98	-14.0%	—	$15.8B	—
Q1 26	$1.16	$0.78	-32.8%	—	$15.5B	—
Q4 25	$1.01	$1.18	+16.8%	—	$15.6B	—
Q2 25	$0.83	$0.42	-49.4%	—	$14.6B	—
Q1 25	$0.6	$0.65	+8.3%	—	$14.4B	—
Q4 24	$0.96	$1.08	+12.5%	—	$2.8B	—
Q3 24	$0.86	$1.02	+18.6%	—	$2.6B	—
Q2 24	$0.86	$0.74	-14.0%	—	$13.7B	—
Q1 24	$0.57	$0.54	-5.3%	—	$13.5B	—
Q4 23	$0.89	$0.97	+9.0%	—	$13.5B	—
Q3 23	$0.14	$0.18	+28.6%	—	$13.1B	—
Q2 23	$0.51	$0.68	+33.3%	—	$12.7B	—
Q1 23	$0.09	$0.1	+11.1%	—	$12.7B	—
Q4 22	$0.14	$0.13	-7.1%	—	$12.7B	—
Q3 22	$0.14	$0.16	+14.3%	—	$12.2B	—
Q2 22	$0.13	$0.09	-30.8%	—	$11.8B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.82	—	—	$59.6B	—
FY24	—	$3.38	—	—	$10.8B	—
FY23	—	$3.03	—	—	$52.1B	—
FY22	—	$2.44	—	—	$48B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$42.5B	$43.2B	$43.5B	$44.3B	$43.1B	$44B	$48B	$52.1B	$10.8B	$59.6B
YoY change	+5.51%	+1.64%	+0.59%	+1.85%	-2.58%	+2.1%	+9.1%	+8.45%	-79.2%	+449.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	42.5B	43.2B	43.5B	44.3B	43.1B	44B	48B	52.1B	10.8B	59.6B
Cost of revenue	20.8B	20.3B	21B	22.2B	22.7B	24.8B	27.4B	29.4B	6.1B	32.9B
Gross profit	21.7B	22.9B	22.4B	22.1B	20.4B	19.3B	20.6B	22.7B	4.8B	26.7B
Gross margin	51%	53.1%	51.6%	49.9%	47.4%	43.7%	42.9%	43.5%	43.9%	44.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	11.7B	15.1B	14.8B	14.3B	13.4B	10.2B	10.7B	11.4B	2.3B	12.9B
Operating expenses	12.5B	15.9B	12.4B	14.6B	13.5B	9.7B	11.1B	11.7B	2.3B	12.5B
Operating income	7B	6.4B	9.2B	6.6B	5.9B	7.1B	7B	8.5B	1.7B	9.9B
Operating margin	16.4%	14.7%	21.1%	15%	13.6%	16.1%	14.7%	16.3%	15.3%	16.6%
Non-operating income, net	-1.4B	-418.4M	2.4B	131.7M	533.1M	-257.1M	-598.7M	-1.1B	20.5M	-692.1M
Pretax income	5.1B	5.7B	11.3B	6.4B	6B	6B	4.8B	5.6B	1.3B	7.3B
Income tax	1B	1.1B	2.3B	1.4B	1.2B	-269.8M	773.7M	533.9M	234.3M	1.1B
Net income	4.1B	4.6B	8.9B	5B	4.8B	6.2B	4.1B	5B	1.1B	6.2B
Net margin	9.61%	10.7%	20.5%	11.3%	11.1%	14.1%	8.45%	9.67%	9.95%	10.4%
EBITDA	14.5B	14.1B	17.5B	17.3B	16.8B	19B	18.4B	20.6B	4.2B	23.7B
EPS	2.42	2.56	5.29	2.96	2.83	3.71	2.44	3.03	3.38	3.82
Diluted EPS	2.42	2.56	5.29	2.96	2.83	3.71	2.44	3.03	3.38	3.82

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	13.1B	13.5B	13.5B	13.7B	2.6B	2.8B	14.4B	14.6B	14.9B	15.6B	15.5B	15.8B
Cost of revenue	2.5B	7.7B	7.5B	7.6B	1.5B	1.6B	8B	8B	8.1B	8.7B	8.5B	8.6B
Gross profit	10.6B	5.8B	6B	6.1B	1.2B	1.2B	6.4B	6.6B	6.8B	6.9B	6.9B	7.2B
Gross margin	81%	43.1%	44.5%	44.4%	44.5%	42.2%	44.2%	45.2%	45.5%	44.1%	44.9%	45.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.8B	2.9B	3B	2.9B	569.3M	618.4M	3.2B	3.2B	3.2B	3.3B	3.5B	3.5B
Operating expenses	4.8B	2.8B	2.9B	3B	528.9M	632.9M	3.1B	3.1B	2.8B	3.5B	3.3B	3.3B
Operating income	2.1B	2.4B	2.5B	2.4B	459M	355.7M	2.2B	2.5B	2.9B	2.3B	2.5B	2.8B
Operating margin	16.2%	17.9%	18.3%	17.7%	17.3%	12.6%	15.1%	16.8%	19.7%	14.9%	16.1%	17.6%
Non-operating income, net	-3M	-327.4M	-547.5M	-266.1M	-23.9M	106.5M	-175.3M	-341.2M	-358.2M	352.2M	-176.7M	-309.5M
Pretax income	1.5B	1.6B	1.2B	1.7B	332.6M	405.6M	1.4B	1.6B	2.1B	2.2B	1.6B	1.9B
Income tax	72M	12.9M	327.6M	458.2M	17.7M	63.4M	359.5M	217M	215M	302.2M	346.5M	316.3M
Net income	1.5B	1.6B	896.1M	1.2B	314.8M	342.1M	1.1B	1.3B	1.9B	1.9B	1.3B	1.6B
Net margin	11.3%	11.9%	6.62%	9%	11.9%	12.1%	7.34%	9.14%	12.6%	12.1%	8.13%	9.95%
EBITDA	5.5B	5.6B	5.8B	5.5B	1.1B	782.7M	6B	5.8B	6.4B	5.9B	6.5B	6.4B
EPS	0.89	0.97	0.54	0.74	1.02	1.08	0.65	0.84	1.18	1.18	0.78	0.98
Diluted EPS	0.89	0.97	0.54	0.74	1.02	1.08	0.65	0.83	1.18	1.18	0.78	0.98

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	132.1B	146.4B	117.7B	141.3B	87.3B	84.8B	69.8B	104.9B	—	—	18B
Enterprise value	136.2B	150.8B	120.5B	151.8B	94.8B	95.2B	86.8B	119.2B	—	—	5.8B
Shares outstanding	9.9B	9.9B	9.9B	9.9B	9.9B	9.8B	9.8B	9.6B	318.8M	1.6B	1.6B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	32.3	31.8	13.2	28.3	18.3	13.6	17.2	20.8	—	—	14.4
P/S	3.11	3.39	2.71	3.19	2.02	1.93	1.45	2.01	—	—	0.29
P/B	1.91	2.11	1.64	2.01	1.26	1.21	1.02	1.51	—	—	1.42
EV/EBITDA	9.4	10.7	6.9	8.76	5.63	5.02	4.72	5.79	—	—	1.48
EV/Sales	3.2	3.49	2.77	3.43	2.2	2.16	1.81	2.29	—	—	0.48
Earnings yield	3.09%	3.15%	7.58%	3.54%	5.46%	7.35%	5.81%	4.81%	—	—	6.96%
FCF yield	3.01%	2.92%	2.91%	6.28%	12.7%	10.4%	13%	9.51%	—	—	13.5%
PEG	—	—	—	—	—	—	—	—	—	—	0.86

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	51%	53.1%	51.6%	49.9%	47.4%	43.7%	42.9%	43.5%	43.9%	44.8%	45.5%
Operating margin	16.4%	14.7%	21.1%	15%	13.6%	16.1%	14.7%	16.3%	15.3%	16.6%	17.6%
Net margin	9.61%	10.7%	20.5%	11.3%	11.1%	14.1%	8.45%	9.67%	9.95%	10.4%	10.7%
ROE	5.9%	6.64%	12.5%	7.1%	6.86%	8.9%	5.93%	7.24%	7.96%	8.95%	9.87%
ROA	4%	4.55%	8.71%	4.62%	4.39%	5.39%	3.41%	4.17%	4.45%	4.82%	5.51%
ROIC	7.55%	6.92%	9.78%	6.42%	6.04%	8.83%	6.92%	9.16%	8.37%	10.2%	11.6%
Return on tangible assets	31.2%	31.3%	49.3%	19.4%	17.3%	22.7%	20.6%	22.1%	19.6%	19.2%	19.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.9	0.94	1.07	1.05	1.07	0.94	0.78	0.96	0.94	1	0.95
Quick ratio	0.88	0.92	1.04	1.02	1.03	0.91	0.74	0.92	0.9	0.94	0.89
Debt / equity	0.13	0.12	0.09	0.2	0.19	0.24	0.28	0.27	0.3	0.29	0.3
Debt / assets	0.09	0.08	0.06	0.13	0.12	0.15	0.16	0.16	0.17	0.16	0.15
Net debt / EBITDA	0.28	0.31	0.16	0.6	0.44	0.55	0.92	0.7	0.66	0.56	0.44
Interest coverage	19.5	43	61.6	45.2	47.6	31.7	15	10.9	12.7	10.2	6.28
Effective tax rate	20.4%	19.6%	20.8%	21.8%	20.6%	0%	16%	9.58%	17.8%	15%	15.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.31	4.38	4.4	4.49	4.37	4.49	4.92	5.44	34	36.9	38.6
EPS (basic)	2.42	2.56	5.29	2.96	2.83	3.71	2.44	3.03	3.38	3.82	3.82
EPS (diluted)	2.42	2.56	5.29	2.96	2.83	3.71	2.44	3.03	3.38	3.82	0.79
Book value per share	7.02	7.04	7.26	7.14	7.05	7.14	7.01	7.26	42.5	42.7	7.98
FCF per share	0.4	0.43	0.35	0.9	1.12	0.9	0.93	1.04	6.43	6.97	6.69
Cash per share	0.52	0.41	0.34	0.34	0.58	0.66	0.23	0.45	4.08	4.42	5.37
Capex per share	0.68	0.85	0.86	0.82	0.74	0.87	0.93	0.87	5.45	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	15.7%	19.3%	19.6%	18.4%	17%	19.4%	19%	16.1%	16%	—	—
Capex / operating cash flow	60.9%	65.1%	73.1%	46.3%	38.8%	45.1%	43.6%	39.2%	39.6%	—	—
Payout ratio	72.6%	79.6%	46.3%	123.5%	110.2%	78.7%	140.7%	76%	45.6%	35.4%	121%
Dividend yield	2.25%	2.51%	3.51%	4.37%	6.02%	5.78%	8.18%	3.66%	—	—	4.47%

Yield

4.47%

trailing twelve months

Frequency

Monthly

Last dividend

$0.042

ex-dividend Aug 27, 2026

Payout ratio

121%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 27, 2026	$0.042
Jul 28, 2026	$0.061
Jun 29, 2026	$0.028

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$13.1B	$13.5B	$13.5B	$13.7B	$2.6B	$2.8B	$14.4B	$14.6B	$14.9B	$15.6B	$15.5B	$15.8B
YoY change	+7.48%	+6.92%	+6.48%	+7.43%	-79.8%	-79.1%	+6.24%	+7.06%	+464.2%	+451.2%	+7.41%	+7.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.1B	4.1B	3.4B	3.4B	5.8B	6.5B	2.3B	4.4B	1.3B	7.1B
Receivables	8.7B	8.6B	8.3B	8.7B	8.2B	8.1B	8.7B	9.3B	1.8B	10.6B
Inventory	410.4M	348.8M	462.1M	578M	633.1M	639.8M	789.7M	822.8M	213.1M	1.5B
Total current assets	18.4B	16.7B	18.4B	18.6B	19.1B	21.1B	17.3B	19.2B	4.4B	25.2B
Property, plant & equipment	118B	124.2B	131.2B	145.2B	44.4B	44.4B	45.9B	46.3B	9.1B	47.4B
Goodwill & intangibles	89B	86.7B	84.4B	82.5B	81.2B	88.2B	99.5B	97.9B	18.7B	95.9B
Total assets	102.1B	101.4B	102.6B	108.3B	108.7B	115.7B	119.1B	120.7B	24.3B	128.1B
Accounts payable	7.6B	7.4B	7.6B	6.9B	6.6B	7.1B	7.4B	8.2B	1.8B	9.9B
Short-term debt	4.7B	3B	1.5B	4.1B	3.7B	6.9B	6B	4.5B	1.3B	5.3B
Total current liabilities	20.4B	17.9B	17.2B	17.7B	17.9B	22.5B	22.2B	20.1B	4.7B	25.2B
Long-term debt	4.6B	5.4B	4.7B	9.7B	9.6B	10B	13.3B	14.3B	2.8B	15B
Total liabilities	32.8B	31.9B	31B	37.8B	39.2B	45.7B	50.7B	51.1B	10.7B	59.1B
Shareholders' equity	69.2B	69.5B	71.6B	70.5B	69.6B	70B	68.5B	69.6B	13.6B	69B
Total debt	9.2B	8.5B	6.1B	13.8B	13.2B	16.9B	19.3B	18.7B	4B	20.3B
Net debt	4.1B	4.4B	2.8B	10.4B	7.5B	10.5B	17B	14.4B	2.7B	13.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	4.6B	4.4B	6.8B	7.4B	1.3B	1.3B	8.2B	9.4B	6.8B	7.1B	9.1B	8.6B
Receivables	9.1B	9.3B	9.5B	9.2B	1.7B	1.8B	9.7B	9.3B	10B	10.6B	10.3B	10.5B
Inventory	888.4M	822.8M	1B	1B	226.7M	213.1M	1.2B	991.8M	1.3B	1.5B	1.8B	1.8B
Total current assets	19.4B	19.2B	23.5B	23.8B	4.4B	4.4B	25.8B	26.3B	24.2B	25.2B	28.6B	27.9B
Property, plant & equipment	45.5B	46.3B	45.6B	45.5B	8.6B	9.1B	45.8B	187.8B	44.7B	47.4B	46.4B	45.9B
Goodwill & intangibles	98.1B	97.9B	97.3B	96.7B	18.2B	18.7B	95.9B	95.5B	95B	95.9B	95.2B	94.7B
Total assets	120B	120.7B	123.9B	124.1B	23.3B	24.3B	126.6B	126.5B	123.9B	128.1B	130.5B	128.9B
Accounts payable	9B	8.2B	9.5B	9.9B	1.8B	1.8B	9.5B	9.4B	9.5B	9.9B	10.2B	10B
Short-term debt	4.4B	4.5B	4.4B	4.6B	1.1B	1.3B	6.6B	6.8B	4.9B	5.3B	5.2B	5.2B
Total current liabilities	21B	20.1B	23.3B	23.2B	4.5B	4.7B	26.8B	26.8B	23.9B	25.2B	26.1B	29.4B
Long-term debt	13.4B	14.3B	14.1B	14.3B	2.5B	2.8B	14B	13.5B	13.2B	15B	14.7B	14.5B
Total liabilities	50.7B	51.1B	55.1B	54.9B	10.3B	10.7B	58.5B	58.3B	55.4B	59.1B	60.7B	63.2B
Shareholders' equity	69.3B	69.6B	68.7B	69.2B	13B	13.6B	68.1B	68.1B	68.5B	69B	69.8B	65.7B
Total debt	17.8B	18.7B	18.5B	18.9B	3.6B	4B	20.6B	20.3B	18.1B	20.3B	19.9B	19.7B
Net debt	13.2B	14.4B	11.8B	11.5B	2.4B	2.7B	12.4B	10.9B	11.3B	13.3B	10.8B	11.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.1B	5.7B	11.3B	6.4B	6B	6B	4.8B	5.6B	1.3B	7.3B
Depreciation & amortization	7.7B	7.9B	8.4B	10.9B	11.2B	12B	12.7B	13.4B	2.8B	14.9B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-3.8B	-3.2B	-10.4B	-1.5B	-115.2M	-781M	1.3B	1.1B	-147.6M	-2.1B
Operating cash flow	11B	12.8B	11.6B	17.6B	18.9B	18.9B	20.9B	21.4B	4.4B	20.7B
Capital expenditure	-6.7B	-8.3B	-8.5B	-8.1B	-7.3B	-8.5B	-9.1B	-8.4B	-1.7B	—
Investing cash flow	-6.9B	-8.4B	-5.7B	-7.9B	-6.4B	-8.1B	-19.2B	-7.9B	-1.7B	-996.5M
Dividends paid	-3B	-3.7B	-4.1B	-6.2B	-5.3B	-4.9B	-5.7B	-3.8B	-491.8M	-2.2B
Share repurchases	-164K	-32K	0	0	-22.7M	-496M	-607.4M	-488.8M	-536.2M	-3.7B
Financing cash flow	-4.8B	-5.3B	-6.9B	-9.8B	-10.6B	-9.3B	-8.9B	-8.9B	-1.7B	-10.4B
Net change in cash	-676.4M	-874.2M	-972.2M	-140.1M	1.9B	1.5B	-7.2B	4.7B	983.8M	9.4B
Free cash flow	4B	4.3B	3.4B	8.9B	11.1B	8.8B	9B	10B	2B	11.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.5B	1.6B	1.2B	1.7B	332.6M	405.6M	1.4B	1.6B	—	—	—	1.9B
Depreciation & amortization	3.4B	3.5B	3.4B	3.4B	690.9M	730.4M	3.7B	3.7B	3.7B	3.8B	3.9B	4B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-309.9M	985.3M	470.8M	329.2M	-152.3M	-146.2M	254.3M	-336.8M	-1.1B	-1B	-68.9M	-897M
Operating cash flow	4.9B	5.1B	6B	6B	918.9M	1.1B	6.2B	5.7B	4.6B	5.1B	5.3B	5.2B
Capital expenditure	-2.2B	-2.6B	-1.9B	-2.1B	-436.7M	-499.4M	-2.4B	-2.2B	—	—	—	—
Investing cash flow	-2.1B	-2.3B	-1.9B	-2.1B	-409.4M	-521.2M	-2.4B	-2.1B	49M	-1B	-2.8M	13.2M
Dividends paid	-1.8B	-329M	-164K	-1.8B	-41.3K	-138M	-137K	-1.9B	-380K	-317.9M	-384K	-2.5B
Share repurchases	-73.2M	-202.2M	0	-257M	-411M	-63.3M	-326.5M	-475.2M	-2.5B	-344.1M	-280K	-407K
Financing cash flow	-3.5B	-1.8B	-618.3M	-3B	-575.1M	-387.2M	-1.2B	-3.4B	-4.2B	-1.6B	-1B	-4B
Net change in cash	-666.5M	973.8M	3.5B	900.1M	-65.7M	213M	2.6B	181.4M	503.1M	2.5B	4.3B	1.2B
Free cash flow	2.4B	1.2B	2.9B	3.5B	426.8M	362.4M	2.7B	3.6B	2.3B	2.7B	2.9B	2.9B

Telefônica Brasil S.A. ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement