Telefônica Brasil S.A. (VIV) Financial Ratios
28 years of historical data (1998–2025) · Communication Services · Telecommunications Services
EV/EBITDA
↑
5.41
↑+270% vs avg
5yr avg: 1.46
30Y Low1.2·High4.5
P/FCF
↑
9.39
↑+510% vs avg
5yr avg: 1.54
30Y Low1.2·High10.7
P/B Ratio
↑
1.52
↑+591% vs avg
5yr avg: 0.22
30Y Low0.2·High1.3
ROE
↓
8.7%
↓+12% vs avg
5yr avg: 7.8%
30Y Low3%·High53%
Debt/EBITDA
↑
1.31
↑+32% vs avg
5yr avg: 1.00
30Y Low0.3·High1.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VIV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Telefônica Brasil S.A. trades at 17.2x earnings, 503% above its 5-year average of 2.8x, sitting at the 96th percentile of its historical range. Compared to the Communication Services sector median P/E of 15.3x, the stock trades at a premium of 12%. On a free-cash-flow basis, the stock trades at 9.4x P/FCF, 510% above the 5-year average of 1.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $20.1B | $19.1B | $12.4B | $18.1B | $11.9B | $14.6B | $14.9B | $24.2B | $20.1B | $25.0B | $22.6B |
| Enterprise Value | $24.7B | $42.9B | $26.4B | $32.5B | $29.0B | $25.0B | $22.4B | $34.6B | $22.9B | $29.5B | $26.7B |
| P/E Ratio → | 17.17 | 3.14 | 2.23 | 3.61 | 2.93 | 2.33 | 3.13 | 4.84 | 2.26 | 5.79 | 5.89 |
| P/S Ratio | 1.77 | 0.33 | 0.22 | 0.35 | 0.25 | 0.33 | 0.35 | 0.55 | 0.46 | 0.58 | 0.53 |
| P/B Ratio | 1.52 | 0.28 | 0.18 | 0.26 | 0.17 | 0.21 | 0.21 | 0.34 | 0.28 | 0.36 | 0.33 |
| P/FCF | 9.39 | 1.73 | 1.17 | 1.82 | 1.32 | 1.66 | 1.35 | 2.72 | 5.88 | 5.86 | 5.69 |
| P/OCF | 5.10 | 0.94 | 0.62 | 0.97 | 0.63 | 0.81 | 0.77 | 1.36 | 1.69 | 1.98 | 1.97 |
P/E links to full P/E history page with 30-year chart
VIV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Telefônica Brasil S.A.'s enterprise value stands at 5.4x EBITDA, 270% above its 5-year average of 1.5x. The Communication Services sector median is 9.6x, placing the stock at a 44% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.73 | 0.47 | 0.62 | 0.60 | 0.57 | 0.52 | 0.78 | 0.53 | 0.68 | 0.63 |
| EV / EBITDA | 5.41 | 1.82 | 1.16 | 1.53 | 1.50 | 1.31 | 1.26 | 1.91 | 1.28 | 2.03 | 1.91 |
| EV / EBIT | 14.32 | 4.47 | 3.60 | 5.30 | 5.60 | 4.07 | 3.65 | 5.29 | 2.00 | 5.02 | 4.94 |
| EV / FCF | — | 3.88 | 2.51 | 3.26 | 3.20 | 2.85 | 2.03 | 3.90 | 6.69 | 6.89 | 6.73 |
VIV Profitability
Margins and return-on-capital ratios measuring operating efficiency
Telefônica Brasil S.A. earns an operating margin of 15.2%, above the Communication Services sector average of 1.6%. ROE of 8.7% is modest. ROIC of 7.6% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.4% | 40.4% | 43.9% | 43.5% | 42.9% | 43.7% | 47.4% | 49.9% | 51.6% | 53.1% | 51.0% |
| Operating Margin | 15.2% | 15.2% | 15.5% | 15.2% | 13.7% | 16.1% | 15.3% | 16.3% | 21.8% | 15.3% | 15.0% |
| Net Profit Margin | 10.3% | 10.3% | 9.9% | 9.7% | 8.5% | 14.2% | 11.1% | 11.3% | 20.5% | 10.7% | 9.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | 8.7% | 8.0% | 7.3% | 5.9% | 8.9% | 6.8% | 7.0% | 12.7% | 6.6% | 5.9% |
| ROA | 4.8% | 4.8% | 4.5% | 4.2% | 3.5% | 5.6% | 4.4% | 4.7% | 8.8% | 4.5% | 4.0% |
| ROIC | 7.6% | 7.6% | 7.8% | 7.0% | 6.0% | 6.7% | 6.3% | 7.0% | 9.6% | 6.8% | 6.5% |
| ROCE | 8.7% | 8.7% | 8.6% | 8.0% | 6.9% | 7.7% | 7.3% | 8.2% | 11.2% | 8.0% | 7.7% |
VIV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Telefônica Brasil S.A. carries a Debt/EBITDA ratio of 1.3x, which is manageable (64% below the sector average of 3.6x). Net debt stands at $23.7B ($30.9B total debt minus $7.1B cash). Interest coverage of 3.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.30 | 0.27 | 0.28 | 0.24 | 0.19 | 0.20 | 0.09 | 0.12 | 0.13 |
| Debt / EBITDA | 1.31 | 1.31 | 0.91 | 0.88 | 1.00 | 0.89 | 0.74 | 0.76 | 0.34 | 0.58 | 0.66 |
| Net Debt / Equity | — | 0.34 | 0.20 | 0.21 | 0.25 | 0.15 | 0.11 | 0.15 | 0.04 | 0.06 | 0.06 |
| Net Debt / EBITDA | 1.01 | 1.01 | 0.61 | 0.67 | 0.88 | 0.55 | 0.42 | 0.58 | 0.15 | 0.30 | 0.29 |
| Debt / FCF | — | 2.15 | 1.33 | 1.44 | 1.88 | 1.19 | 0.68 | 1.17 | 0.81 | 1.03 | 1.04 |
| Interest Coverage | 3.90 | 3.90 | 12.72 | 13.58 | 2.36 | 6.66 | 7.89 | 26.44 | 22.46 | 5.49 | 14.98 |
VIV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 1.00x is below 1.0, meaning current liabilities exceed current assets — though the company's $7.1B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.00 | 1.00 | 0.94 | 0.96 | 0.78 | 0.94 | 1.07 | 1.05 | 1.07 | 0.94 | 0.90 |
| Quick Ratio | 0.94 | 0.94 | 0.90 | 0.92 | 0.74 | 0.91 | 1.03 | 1.02 | 1.04 | 0.92 | 0.88 |
| Cash Ratio | 0.29 | 0.29 | 0.28 | 0.22 | 0.10 | 0.29 | 0.32 | 0.19 | 0.20 | 0.23 | 0.25 |
| Asset Turnover | — | 0.46 | 0.45 | 0.43 | 0.40 | 0.38 | 0.40 | 0.41 | 0.42 | 0.43 | 0.42 |
| Inventory Turnover | 23.59 | 23.59 | 28.57 | 35.75 | 34.74 | 38.72 | 35.85 | 38.34 | 45.50 | 58.13 | 50.74 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
VIV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Telefônica Brasil S.A. returns 5.7% to shareholders annually — split between a 2.1% dividend yield and 3.6% buyback yield. The payout ratio of 35.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.1% | 11.2% | 20.4% | 21.1% | 47.8% | 33.7% | 35.2% | 25.5% | 20.5% | 14.6% | 13.1% |
| Payout Ratio | 35.5% | 35.5% | 45.6% | 76.2% | 139.8% | 78.6% | 110.2% | 123.5% | 46.3% | 79.6% | 72.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.8% | 31.9% | 44.8% | 27.7% | 34.1% | 42.9% | 32.0% | 20.7% | 44.3% | 17.3% | 17.0% |
| FCF Yield | 10.6% | 57.7% | 85.2% | 55.0% | 75.7% | 60.3% | 74.0% | 36.7% | 17.0% | 17.1% | 17.6% |
| Buyback Yield | 3.6% | 19.6% | 22.3% | 2.7% | 5.1% | 3.4% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.7% | 30.8% | 42.7% | 23.8% | 52.9% | 37.1% | 35.3% | 25.5% | 20.5% | 14.6% | 13.1% |
| Shares Outstanding | — | $1.6B | $1.6B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B |
Peer Comparison
Compare VIV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VIVYou | $20B | 17.2 | 5.4 | 9.4 | 40.4% | 15.2% | 8.7% | 7.6% | 1.3 |
 TEF | $24B | -65.1 | 5.2 | 4.0 | 69.6% | 5.8% | -0.2% | 2.9% | 4.0 |
 AMX | $80B | 17.8 | 6.4 | 11.4 | 42.9% | 21.0% | 18.1% | 11.2% | 2.6 |
 TKC | $5B | 12.7 | 94.0 | 10.5 | 28.7% | 17.0% | 0.5% | 0.7% | 1.4 |
 T | $154B | 7.2 | 6.9 | 7.9 | 79.8% | 19.2% | 17.6% | 6.7% | 3.9 |
 VZ | $191B | 11.2 | 7.8 | 9.5 | 45.6% | 21.2% | 16.6% | 8.0% | 4.2 |
 TMUS | $197B | 18.7 | 9.7 | 19.0 | 47.6% | 21.2% | 18.2% | 8.1% | 3.8 |
 LILA | $961M | -1.6 | 6.3 | 3.1 | 67.5% | 16.2% | -45.5% | 5.6% | 5.7 |
 ERIC | $35B | 13.6 | 8.9 | 11.8 | 48.1% | 13.8% | 26.3% | 22.3% | 1.2 |
 NOK | $77B | 106.9 | 35.3 | 47.8 | 43.5% | 3.9% | 3.1% | 3.0% | 2.7 |
 CSCO | $471B | 46.9 | 33.6 | 35.5 | 64.9% | 20.8% | 22.1% | 13.0% | 1.9 |
| Communication Services Median | — | 15.3 | 9.6 | 11.4 | 48.5% | 1.6% | 2.0% | 2.6% | 3.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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VIV — Frequently Asked Questions
Quick answers to the most common questions about buying VIV stock.
What is Telefônica Brasil S.A.'s P/E ratio?
Telefônica Brasil S.A.'s current P/E ratio is 17.2x. The historical average is 5.6x. This places it at the 96th percentile of its historical range.
What is Telefônica Brasil S.A.'s EV/EBITDA?
Telefônica Brasil S.A.'s current EV/EBITDA is 5.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.1x.
What is Telefônica Brasil S.A.'s ROE?
Telefônica Brasil S.A.'s return on equity (ROE) is 8.7%. The historical average is 13.2%.
Is VIV stock overvalued?
Based on historical data, Telefônica Brasil S.A. is trading at a P/E of 17.2x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Telefônica Brasil S.A.'s dividend yield?
Telefônica Brasil S.A.'s current dividend yield is 2.05% with a payout ratio of 35.5%.
What are Telefônica Brasil S.A.'s profit margins?
Telefônica Brasil S.A. has 40.4% gross margin and 15.2% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Telefônica Brasil S.A. have?
Telefônica Brasil S.A.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.