VIV

MKT CAP:$26B

Telefônica Brasil S.A.

Market Cap

$26B

Communication Services·Telecommunications Services·🇧🇷 Brazil·NYSE

Communication·Telecommunications·🇧🇷·NYSE

Stock Price

$16.43+$4.36 (+36.12%)

Apr 17, 2026

Company Details

Telefônica Brasil S.A., together with its subsidiaries, provides mobile and fixed telecommunications services to residential and corporate customers in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and in...

CEO

Christian Mauad Gebara

IPO Date

Nov 16, 1998

Website

www.telefonica.com.br

Key Metrics TTM

Revenue

$12.1B

+13.6% YoY

Net Income

$1.2B

EPS (Diluted)

$0.78

Free Cash Flow

$2.3B

Revenue / Share

$7.54

Gross Margin

43.6%

Operating Margin

15.8%

Net Margin

10.4%

FCF Margin

18.9%

P/S

2.1x

P/E

20.6x

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Feb 23, 2026

$11.8BEPS $0.76

Q4 2025

Feb 23, 2026

$3.2BEPS $0.24

Q3 2025

Nov 14, 2025

$3.0BEPS $0.24

Q2 2025

Aug 12, 2025

$3.0B+7.1%EPS $0.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$2.6B	$1.1B	$338M
Q2 23	$2.6B	$1.1B	$377M
Q4 23	$2.7B	$1.2B	$454M
Q2 24	$2.8B	$1.2B	$411M
Q1 25	$2.9B	$1.3B	$400M
Q2 25	$3.0B	$1.3B	$452M
Q3 25	$3.0B	$1.4B	$558M
Q4 25	$3.2B	$1.3B	$497M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q4 23	—	—
Q2 24	1.3x	13.9x
Q1 25	1.3x	14.1x
Q2 25	1.6x	17.6x
Q3 25	1.7x	18.1x
Q4 25	1.6x	15.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$961M	$695M
Q2 23	$1.1B	$595M
Q4 23	$773M	$236M
Q2 24	$1.2B	$706M
Q1 25	$1.0B	$538M
Q2 25	$1.2B	$731M
Q3 25	$929M	$454M
Q4 25	$1.1B	$557M

Capital Expenditures

Quarter	CapEx
Q1 23	$266M
Q2 23	$501M
Q4 23	$537M
Q2 24	$447M
Q1 25	$488M
Q2 25	$452M
Q3 25	$475M
Q4 25	$500M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 25	+13.1%	+12.3%
Q2 25	+15.0%	+14.2%
Q3 25	+10.4%	+8.0%
Q4 25	+15.9%	+15.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$0	0.0%
Q2 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 23	$264M	$293M	—
Q2 23	$271M	$295M	—
Q4 23	$290M	$310M	—
Q2 24	$300M	$284M	—
Q1 25	$310M	$334M	—
Q2 25	$327M	$316M	—
Q3 25	$317M	$326M	—
Q4 25	—	—	$758M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.3B	$6M	$1.3B
Q2 22	$631M	$192.0K	$631M
Q3 22	$1.2B	$198.2K	$1.2B
Q4 22	$458M	$204.7K	$458M
Q1 23	$1.1B	$211.1K	$1.1B
Q2 23	$1.1B	$218.0K	$1.1B
Q3 23	$918M	$0	$918M
Q4 23	$878M	$231.3K	$878M
Q1 24	$1.4B	$0	$1.4B
Q2 24	$1.5B	$0	$1.5B
Q3 24	$1.4B	$0	$1.4B
Q4 24	$1.3B	$0	$1.3B
Q1 25	$1.6B	$0	$1.6B
Q2 25	$1.9B	$0	$1.9B
Q3 25	$1.4B	$0	$1.4B
Q4 25	$1.4B	$20M	$1.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	1.66B	—	—
Q2 23	1.66B	-0.1%	—
Q4 23	1.66B	-0.3%	—
Q2 24	1.65B	-0.3%	—
Q1 25	1.63B	-1.4%	-2.1%
Q2 25	1.60B	-1.7%	-3.6%
Q3 25	1.60B	0.0%	-3.4%
Q4 25	1.60B	-0.1%	-3.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$74.3K	34K
Q2 23	$74.4K	34K
Q4 23	$77.8K	35K
Q2 24	$78.7K	35K
Q1 25	$80.6K	36K
Q2 25	$82.0K	36K
Q3 25	$83.7K	36K
Q4 25	$91.2K	35K

Revenue / Employee