Telefonica Brasil SA (VIV) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Telefonica Brasil SA $15.83, price $11.65, upside +35.9%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Telefonica Brasil SA ADR for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $5.32 – $16.46 · fair‑value band $11.47 – $20.19 · the $11.65 price screens below the $15.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow Telefonica Brasil SA ADR in your weekly email
Every Wednesday you see whether Telefonica Brasil SA ADR is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Telefônica Brasil S.A., together with its subsidiaries, operates as a mobile telecommunications company in Brazil.
Show more
Telefônica Brasil S.A., together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line voice services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as value-added, prepaid plans with data sharing features, family plans, voice mail, caller identification, voice minutes in unlimited bundles to mobile and fixed-line phones, and digital services, and wireless roaming services. The company also offers data services, including broadband and mobile data services; fixed-line local services consist of activation, monthly subscription, public telephones and measured services. In addition, it provides pay TV services through IPTV technologies; network services, such as rental of facilities and other services; wholesale services, including interconnection services to users of other network providers; and digital services that include entertainment, cloud, and security and financial services. Further, the company offers multimedia communication services, which include audio, data, voice and other sounds, images, texts, and other information, as well as sells devices and accessories, such as smartphones, broadband USB modems, and other devices. Additionally, it provides telecommunications solutions and IT support to various industries, such as retail, manufacturing, services, financial institutions, government, etc; insurance services; and sale of wireless devices and consumer electronics. It markets and sells its solutions through Vivo stores, dealers, retail channels, distribution and digital channels, door-to-door sales, and outbound tele sales. The company was formerly known as Telecomunicações de São Paulo S.A. - TELESP and changed its name to Telefônica Brasil S.A. in October 2011. Telefônica Brasil S.A. was incorporated in 1998 and is headquartered in São Paulo, Brazil.
Stock analysis
Telefonica Brasil SA ADR (VIV) currently trades at $11.65, while our model-based Fair Value estimate is $15.83, implying the stock looks roughly 26.4% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $111.75 per share, and 24 of the 24 models we run sit above the $11.65 price.
Bear case: the Earnings-Based group reads lowest at $25.20, and 0 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $11.47 (bear) to $20.19 (bull), the price of $11.65 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Telefonica Brasil SA ADR reported revenue of R$58.4B in FY2025 versus R$44.0B in FY2021, a compound +7.3%/yr. Reported net income was R$6.0B in FY2025, compounding −0.8%/yr from FY2021.
Key figures
Market cap $21.1B · P/E ratio 15.3 · P/S ratio 1.59 · EPS (TTM) $0.7600 · Dividend yield 6.5% · Net margin 10.3% · Return on equity 9.3% · Return on assets (EBIT) 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The share trades about 29% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at 36%, VIV screens richer than that median.
Fair Value models
Bear $11.47Fair Value $15.83Bull $20.19
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0044 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
Start year 2020 (pandemic). Over 10 years: +3.8% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.9%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in BRL ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted. Measured in BRL: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+12.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)6.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5% vs 5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 15%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in BRL, Brazil: IMF forecast 3.3% a year to 2030, 5.4% from 2016 to 2025) that is about −12.4% a year for the price and +2.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Telefonica Brasil SA ADR with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 252 stocks
Beats the industry median on 13/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+36% · Above median
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Above median
Net margin (TTM)11% · Above median
Operating margin (TTM)15% · Above median
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)6.5% · Top 25%
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Telecom Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Telefonica Brasil SA ADR Fair Value". https://www.fairvalue-calculator.com/stock/VIV
Frequently asked questions
Is Telefonica Brasil SA (VIV) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $15.83 versus a price of $11.65, about +36% upside (undervalued).
What is the fair value of VIV?
Our model-based fair value for Telefonica Brasil SA ADR is $15.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: $11.65.
What is the quality score of VIV?
Telefonica Brasil SA ADR has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Telefonica Brasil SA (VIV)?
Our model-based price target is the fair value of $15.83 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $11.47, optimistic scenario $20.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Telefonica Brasil SA ADR stock forecast for 2026?
Our models put fair value at $15.83, about +36% upside versus a price of $11.65 (undervalued). Cautious scenario $11.47, optimistic scenario $20.19. The calculation is refreshed regularly with new filings.
What is the revenue of Telefonica Brasil SA (VIV)?
Telefonica Brasil SA ADR reported trailing-twelve-month revenue of about R$60.7B (latest available figure, as of Sep 24, 2026).
Does Telefonica Brasil SA ADR pay a dividend?
Telefonica Brasil SA ADR currently shows a dividend yield of about 6.47% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Telefonica Brasil SA (VIV)?
For today's price to be fair in a discounted-cash-flow model, Telefonica Brasil SA ADR would have to grow free cash flow by -9.5 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of VIV use?
Our models discount Telefonica Brasil SA ADR at 8.1 %: a base by market capitalisation (large), damped by beta 0.22, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Telefonica Brasil SA ADR that is -9.5 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Telefonica Brasil SA (VIV) delivered so far?
Over the past 5 years revenue at Telefonica Brasil SA ADR grew +6.3 % a year. The price currently implies -9.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Telefonica Brasil SA (VIV) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Telefonica Brasil SA ADR (-9.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Telefonica Brasil SA (VIV)?
The free-cash-flow yield on the price is 11.37 %: that much free cash flow Telefonica Brasil SA ADR produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Telefonica Brasil SA (VIV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Telefonica Brasil SA ADR it is $15.83 per share (as of Sep 24, 2026), against a price of $11.65. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Telefonica Brasil SA ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, VIV trades below its calculated fair value: price $11.65, fair value $15.83, a gap of about +36% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VIV?
No. The price is what the market pays today ($11.65); the fair value is what the company's own numbers justify ($15.83). For Telefonica Brasil SA ADR the two are $4.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Telefonica Brasil SA ADR worth?
The market values Telefonica Brasil SA ADR at about $21.1B (market capitalisation, as of Sep 24, 2026). Per share that is $11.65; our models calculate a fair value of $15.83 per share.
What do the bullish and bearish scenarios say about VIV?
Our models span a range for Telefonica Brasil SA ADR: cautious scenario $11.47, base $15.83, optimistic $20.19 per share (as of Sep 24, 2026, price $11.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VIV?
Telefonica Brasil SA ADR trades at a price-to-earnings ratio of 15.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $15.83 is built from several models across several years. Other multiples: PEG 1.1, P/B 1.6, P/S 1.8, EV/EBITDA 5.4.
What is the PEG ratio of VIV?
The PEG ratio of Telefonica Brasil SA ADR is 1.09 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Telefonica Brasil SA (VIV)?
Balance-sheet figures for Telefonica Brasil SA ADR (as of Sep 24, 2026): return on equity 9.3%, debt of 0.07 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is VIV from its 52-week high?
Telefonica Brasil SA ADR trades at $11.65, about 29% below its 52-week high of $16.46 and 5% above the low of $11.07 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $15.83 is for.
Which stocks are comparable to Telefonica Brasil SA ADR?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Telefonica Brasil SA ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $11.65, calculated fair value $15.83 (+36%), Quality Score 65/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VIV calculated?
We run Telefonica Brasil SA ADR through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $15.83, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Telefonica Brasil SA ADR currently trades 36 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Telefonica Brasil SA (VIV)?
The closing price on Sep 23, 2026 was $11.65. Our model-based fair value is $15.83, about +36% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Telefonica Brasil SA ADR right now?
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Telefonica Brasil SA (VIV) come from?
Earnings per share at Telefonica Brasil SA ADR grew +1.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.4 %, EBIT margin +0.9 %, tax rate −0.2 %, residual (interest, one-offs) −1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Telefonica Brasil SA ADR
How large is the market capitalisation of Telefonica Brasil SA (VIV)?
The market capitalisation of Telefonica Brasil SA ADR is $21.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Telefonica Brasil SA (VIV)?
The price-to-sales ratio of Telefonica Brasil SA ADR is 1.59 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Telefonica Brasil SA (VIV)?
Earnings per share at Telefonica Brasil SA ADR are $0.7600 (price ÷ EPS = P/E 15.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Telefonica Brasil SA (VIV)?
The dividend yield of Telefonica Brasil SA ADR is 6.5% (payout 99.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Telefonica Brasil SA (VIV)?
The net margin of Telefonica Brasil SA ADR is 10.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Telefonica Brasil SA (VIV)?
The return on equity (ROE) of Telefonica Brasil SA ADR is 9.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Telefonica Brasil SA (VIV)?
On an EBIT basis the return on assets of Telefonica Brasil SA ADR is 6.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Telefonica Brasil SA (VIV)?
The operating margin of Telefonica Brasil SA ADR is 15.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Telefonica Brasil SA (VIV)?
Revenue at Telefonica Brasil SA ADR is growing +7.4% versus a year earlier (3y avg +6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Telefonica Brasil SA (VIV)?
Earnings per share at Telefonica Brasil SA ADR are growing +18.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Telefonica Brasil SA (VIV) carry?
The net debt of Telefonica Brasil SA ADR is R$13.2B (fiscal year 2025, ≈ 1.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Telefonica Brasil SA ADR in the live analysis
One click puts Telefonica Brasil SA ADR on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 24, 2026