Telefônica Brasil (VIV) Stock Analysis

November 11, 2026

This is a peer-relative look at Telefônica Brasil (VIV): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Telecommunication Services peers, so every number reads in context rather than in isolation.

Company Profile

Telefônica Brasil (VIV) trades as an ADR rather than ordinary local shares — read it with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile fields for Telefônica Brasil (VIV)
Profile Item	VIV
Name	Telefônica Brasil S.A. ADR
Country/Region	Brazil
GICS Sector	Communication Services
GICS Industry Group	Telecommunication Services
GICS Industry	Diversified Telecommunication Services
GICS Sub-Industry	Integrated Telecommunication Services
Market Capitalization	18.26 billion USD
Currency	USD
Exchange	NYSE
Listing Date	November 16, 1998
Security Type	ADR

Price Performance

Cumulative Growth

VIV

GSPC

Telefônica Brasil (VIV) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Telefônica Brasil (VIV) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Telefônica Brasil (VIV) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Total Return (1Y)	-1.63%	-0.39%
Total Return (3Y, Annualized)	11.15%	16.26%
Total Return (5Y, Annualized)	12.02%	2.38%

Risk Profile

Drawdown History

VIV

GSPC

Telefônica Brasil (VIV) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Telefônica Brasil (VIV) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Volatility (1Y, Annualized)	33.69%	41.04%
Beta (5Y)	0.53	0.68
Max Drawdown (5Y)	-40.80%	-57.78%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. VIV is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Sharpe Ratio (1Y)	-0.18	-0.17
Sortino Ratio (1Y)	-0.24	-0.24

Profitability

ROE (TTM)

Telefônica Brasil (VIV) posts ROE of 9.87%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

VIV

Telecommunication Services industry group

9.87%

Group distribution

Max: 31.74%
Q3: 17.02%
VIV: 9.87%
Median: 7.32%
Q1: -5.16%
Min: -20.26%

Largest peers

AMX: 20.98%
TMUS: 19.35%
VZ: 15.79%
T: 11.61%
CHT: 11.37%
VIV: 9.87%
SPCX: --

Where Telefônica Brasil (VIV) stands on ROE within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Telefônica Brasil (VIV) keeps 10.68% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

VIV

Telecommunication Services industry group

10.68%

Group distribution

Max: 30.45%
Q3: 11.78%
VIV: 10.68%
Median: 7.20%
Q1: -3.86%
Min: -18.49%

Largest peers

CHT: 16.61%
TMUS: 12.05%
VZ: 11.78%
VIV: 10.68%
T: 10.19%
AMX: 9.36%
SPCX: -8.61%

Where Telefônica Brasil (VIV) stands on net margin within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Telefônica Brasil (VIV) turns 17.64% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

VIV

Telecommunication Services industry group

17.64%

Group distribution

Max: 35.53%
Q3: 22.79%
VIV: 17.64%
Median: 12.87%
Q1: 0.82%
Min: -29.20%

Largest peers

SPCX: 27.58%
VZ: 25.11%
TMUS: 24.75%
T: 24.65%
AMX: 22.79%
CHT: 22.75%
VIV: 17.64%

Where Telefônica Brasil (VIV) stands on operating margin within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
ROE (TTM)	9.87%	7.32%
ROA (TTM)	5.51%	3.12%
Net Margin (TTM)	10.68%	7.20%
Operating Margin (TTM)	17.64%	12.87%
Gross Margin (TTM)	48.26%	59.09%

Growth

Revenue Growth

Telefônica Brasil (VIV) grew revenue 6.71%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Telefônica Brasil (VIV): Revenue Growth across different time periods, set against Telecommunication Services industry-group medians.

EPS Growth

Telefônica Brasil (VIV) grew earnings per share 13.02%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Telefônica Brasil (VIV): EPS Growth across different time periods, set against Telecommunication Services industry-group medians.

Growth Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Revenue Growth (YoY)	6.71%	5.16%
Revenue Growth (3Y CAGR)	7.45%	3.41%
EPS Growth (YoY)	13.02%	-1.93%
EPS Growth (3Y CAGR)	16.12%	16.50%

Financial Strength

Current Ratio (MRQ)

Telefônica Brasil (VIV) has current ratio of 0.95, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

VIV

Telecommunication Services industry group

0.95

Group distribution

Max: 2.85
Q3: 1.64
Median: 0.97
VIV: 0.95
Q1: 0.78
Min: 0.26

Largest peers

SPCX: 3.08
CHT: 1.36
VIV: 0.95
TMUS: 0.91
T: 0.87
AMX: 0.75
VZ: 0.63

Where Telefônica Brasil (VIV) stands on current ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Telefônica Brasil (VIV) has debt-to-equity ratio of 0.30, in the lower-leverage quartile for its industry. Borrowing is modest relative to equity compared with most peers, which can leave more flexibility through a cycle.

VIV

Telecommunication Services industry group

0.30

Group distribution

Max: 3.94
Q3: 2.11
Median: 1.32
Q1: 0.65
VIV: 0.30
Min: 0.00

Largest peers

TMUS: 2.11
VZ: 1.82
AMX: 1.50
T: 1.45
VIV: 0.30
SPCX: 0.22
CHT: 0.07

Where Telefônica Brasil (VIV) stands on debt-to-equity ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Current Ratio (MRQ)	0.95	0.97
Debt / Equity (MRQ)	0.30	1.32
Net Debt / EBITDA	0.56	3.56

Dividends

Dividend Yield (TTM)

Telefônica Brasil (VIV) has dividend yield of 4.81%, in the upper peer-yield quartile while still inside the industry range. The dividend offers more cash income per dollar of share price than most peers, though payout coverage still matters.

VIV

Telecommunication Services industry group

4.81%

Group distribution

Max: 6.10%
VIV: 4.81%
Q3: 2.63%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

VZ: 6.10%
T: 5.09%
VIV: 4.81%
TMUS: 2.63%
AMX: 2.15%
SPCX: 0.00%
CHT: 0.00%

Where Telefônica Brasil (VIV) stands on dividend yield within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Telefônica Brasil (VIV) has payout ratio of 120.03%, meaning dividends exceeded current-period earnings. The gap would need to be covered by cash, retained earnings, financing, or other sources, so earnings alone do not support the payout.

VIV

Telecommunication Services industry group

120.03%

Group distribution

Max: 121.72%
VIV: 120.03%
Q3: 68.18%
Median: 4.06%
Q1: 0.00%
Min: 0.00%

Largest peers

VIV: 120.03%
VZ: 71.75%
T: 59.36%
TMUS: 39.34%
AMX: 36.38%
SPCX: 0.00%
CHT: 0.00%

Where Telefônica Brasil (VIV) stands on payout ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
Dividend Yield (TTM)	4.81%	0.00%
Dividend Payout Ratio (TTM)	120.03%	4.06%

Valuation

P/E Ratio (TTM)

Telefônica Brasil (VIV) trades at P/E ratio of 14.65, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

VIV

Telecommunication Services industry group

14.65

Group distribution

Max: 30.40
Q3: 23.75
VIV: 14.65
Median: 13.30
Q1: 8.65
Min: 2.50

Largest peers

SPCX: 583.78
CHT: 30.40
TMUS: 15.62
AMX: 14.95
VIV: 14.65
VZ: 11.66
T: 11.57

Where Telefônica Brasil (VIV) stands on P/E ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Telefônica Brasil (VIV) trades at 0.30 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

VIV

Telecommunication Services industry group

0.30

Group distribution

Max: 3.01
Q3: 1.73
Median: 0.81
Q1: 0.36
VIV: 0.30
Min: 0.00

Largest peers

SPCX: 56.91
TMUS: 1.83
VZ: 1.36
T: 1.13
VIV: 0.30
CHT: 0.15
AMX: 0.08

Where Telefônica Brasil (VIV) stands on P/S ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Telefônica Brasil (VIV) trades at 1.40 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

VIV

Telecommunication Services industry group

1.40

Group distribution

Max: 8.10
Q3: 3.98
Median: 1.53
VIV: 1.40
Q1: 0.65
Min: -2.39

Largest peers

CHT: 13.30
SPCX: 10.31
AMX: 3.57
TMUS: 3.06
VZ: 1.79
VIV: 1.40
T: 1.37

Where Telefônica Brasil (VIV) stands on P/B ratio within its Telecommunication Services peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Telefônica Brasil (VIV) metric values compared with Telecommunication Services industry-group medians
Metric	Current stock: VIV	Industry group median
P/E Ratio (TTM)	14.65	13.30
P/S Ratio (TTM)	0.30	0.81
P/B Ratio (MRQ)	1.40	1.53
Free Cash Flow Yield (TTM)	68.91%	10.87%