Data-driven stock valuation

Telefonica Brasil SA ADR (VIV) fair value: what the stock is really worth

We calculate from audited financials what Telefonica Brasil SA ADR is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

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Communication Services · US · Market cap $19.0B · ISIN US87936R2058

At a glance

Telefonica Brasil SA ADR VIV · US

Price$11.80

Fair Value$16.06

Upside+36.1%

Quality65/100

A solid business, trading 27% below our fair value of $16.06.

As of Aug 29, 2026, the fair value of Telefonica Brasil SA ADR is $16.06 per share against a price of $11.80, so the fair value sits 36% above the price. A model estimate from reported figures, not an analyst target.

✓Healthy Growth (revenue 5y +6.3 %/yr)

✓Solidly profitable · 10.5% net margin

✓Low debt · generates free cash flow

·6.39% dividend yield

✓Ranks above peers (12/12)

!Moderate moat 52/100

!Evidence only medium, so the estimate is less certain

Evidence: Medium Range $12.05 to $20.08

Fair value as of: Aug 29, 2026

From 24 valuation models · updated 12 days ago

Fair value updated Aug 29, 2026, revised from $16.05 to $16.06 (+0.1%) since Aug 13, 2026. Share price −1.7% over the past month.

This is the short version. In the app for Telefonica Brasil SA ADR:

26 models, one by oneBear $12.05 to bull $20.08 5-year chart + forecastprice, fair value, trend, scenarios Quality 65/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

The price is below even our cautious bear case ($12.05). The market is more pessimistic than our downside scenario.
Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $5.32 – $16.46 · fair‑value band $12.05 – $20.08 · the $11.80 price screens below the $16.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Telefonica Brasil SA ADR (VIV) currently trades at $11.80, while our model-based Fair Value estimate is $16.06, implying the stock looks roughly 26.5% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of $101.45 per share, and 24 of the 24 models we run sit above the $11.80 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 medium.

Over the trailing twelve months, Telefonica Brasil SA ADR generated revenue of $60.7B at a net margin of 10.5%. Revenue grew 7.4% year over year. It earns a return on equity of 9.3%. Net debt stands at $13.2B. Fundamentals as of Aug 29, 2026

Scenario range: $12.05 (bear) to $20.08 (bull), the price of $11.80 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 29% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 29% fair-value upside, at 36%, VIV screens cheaper than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($0.0042 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Model 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

Highest evidence

FCF DCF $80.29 $124.38 $191.84 79

Growth DCF $81.61 $120.59 $176.55 78

Residual Income $36.60 $39.84 $52.20 76

All 24 models by family

DCF Models

FCF DCF $80.29 $124.38 $191.84 79

Owner Earnings $83.04 $128.69 $198.51 75

5Y Revenue Exit $60.55 $91.39 $130.16 72

5Y EBITDA Exit $106.05 $176.66 $259.25 74

5Y P/E Exit $65.29 $100.27 $136.65 71

10Y Revenue Exit $65.41 $95.28 $134.47 67

10Y EBITDA Exit $95.98 $154.54 $233.17 67

10Y P/E Exit $69.98 $101.45 $139.43 64

Earnings-Based

Graham-Dodd $25.73 $80.74 $107.47 64

Lynch FV $17.64 $25.20 $32.77 61

PEG = 1.0 $17.64 $25.20 $32.77 57

EPV $48.32 $56.09 $62.89 74

Multiples

P/E Multiple $62.44 $83.26 $104.07 63

P/S Multiple $48.25 $64.34 $80.42 58

P/B Multiple $48.25 $64.34 $80.42 55

EV/EBIT $68.49 $90.76 $113.03 66

EV/EBITDA $134.31 $178.52 $222.73 67

EV/Revenue $52.35 $74.06 $95.77 54

Asset-Based

NCAV (Graham) $21.49 $28.80 $42.99 54

Growth DCF

Growth DCF $81.61 $120.59 $176.55 78

Rev-Margin DCF $60.55 $91.94 $128.31 73

Economic Profit

Residual Income $36.60 $39.84 $52.20 76

ROIC Compounder $49.69 $62.71 $79.15 72

Growth Earnings

Growth-Adj P/E $51.52 $73.60 $95.69 67

Widest divergence: DCF Models ($101.45) versus Earnings-Based ($25.20). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 15.5

P/S ratio 1.61 P/E × margin

EPS (TTM) $0.7600 price ÷ EPS = P/E 15.5

Dividend yield 6.4% payout 99.2%

Net margin 10.3% FY2025

Return on equity 9.3% TTM

More key figures

Profitability

Return on assets (EBIT) 6.4% avg 5y

Operating margin 15.1% TTM

Growth

Revenue (TTM) $60.7B TTM

Revenue growth (YoY) +7.4% 3y avg +6.7%

EPS growth (YoY) +18.2%

Balance sheet & cash flow

Free cash flow $11.0B FY2025

Net debt $13.2B FY2025 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 45

Profitability 38

Margins and returns on capital today

Quality Growth 47

Are margins and returns improving?

Cashflow 78

Earnings quality: real cash, not paper profit

Fin. Strength 59

Balance sheet, leverage, solvency risk

Investment 70

Disciplined investing over empire-building

Low Volatility 83

Calm price path (market factor)

Momentum 28

Price trend over the last 3–12 months (market factor)

52W Momentum 30

Distance to the 52-week high (market factor)

Net Issuance 97

Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 77/100

Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Latest Revenue (FY 2025)

$58.4B

Latest YoY

+4.6%

Avg. revenue growth/yr (3Y) ⓘ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.

+6.7%

Avg. revenue growth/yr (5Y) ⓘ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.

+6.3%

Avg. revenue growth/yr (27Y) ⓘ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.

+9.9%

Value creation/yr (5Y, in BRL) ⓘEarnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year. 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.

+11.9%

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share+5.5%

Dividend yield6.4%

Trend ⓘ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.5Y 4.8% vs 10Y 4.5%, steady

Operating margin (EBIT) ⓘ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.15.3% (2020) → 15.2% (2025) · steady

Worst earnings drop47% (2020) · in USD

Revenue +7.3%/yr

FY21 R$44.0B

FY22 R$48.0B

FY23 R$52.1B

FY24 R$55.8B

FY25 R$58.4B

Net income −0.8%/yr

FY21 R$6.2B

FY22 R$4.1B

FY23 R$5.0B

FY24 R$5.5B

FY25 R$6.0B

Character of growth · EPS growth decomposed (2014-2025) +1.8 % p.a.

Revenue per share +2.4 %

of which total revenue +3.9 % · buybacks/dilution −1.5 %

EBIT margin +0.9 %

Tax rate −0.2 %

Residual (interest, one-offs) −1.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Telefonica Brasil SA ADR · Fair Value
$16.06 +27%Fair Value
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Cite: Fair Value Calculator (2026). "Telefonica Brasil SA ADR Fair Value". https://www.fairvalue-calculator.com/stock/VIV

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Telefonica Brasil SA (VIV) Q2 2026 Earnings Call Highlights: Strong Revenue Growth and ... Yahoo Finance · Jul 28, 2026
2Q26 Results: Telefonica Brasil S.A. Yahoo Finance · Jul 28, 2026

Peer Group

Telecom Services · 252 stocks

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.

Valuation

Quality Score 65 · Top 25%

Fair Value upside +38% · Above median

Profitability

Return on equity (TTM) 9% · Above median

Return on assets 5% · Above median

Net margin (TTM) 11% · Above median

Operating margin (TTM) 15% · Above median

Growth and dividend

Revenue growth 7% · Above median

Dividend yield (TTM) 6.4% · Top 25%

Balance sheet

Debt / equity 0.07× · Below median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 15.5× · Cheaper than median

P/FCF 1.9× · Cheaper than median

PEG 1.09× · Cheaper than median

Context: sector, industry, market

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

This stock

Sector peers

VALUE81 · sector 28

FUTURE37 · sector 15

PAST37 · sector 28

HEALTH97 · sector 89

DIVIDEND100 · sector 74

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock	Price	Fair Value	vs Fair Value
China Mobile Limited 600941	¥96.11	¥109.88	+14%
T-Mobile US, Inc TMUS	$181.52	$172.67	−5%
Verizon Communications Inc VZ	$50.14	$64.43	+29%
AT&T Inc T	$25.68	$43.97	+71%
Bharti Airtel Limited BHARTIARTL	₹1,935	₹941.48	−51%
Comcast Corporation CMCSA	$26.49	$95.42	+260%
China Telecom Corporation 601728	¥6.43	¥8.36	+30%
América Móvil, S.A. AMX	$23.00	$39.79	+73%
Singapore Telecommunications Limited Z77	4.53 SGD	3.03 SGD	−33%
Swisscom AG SCMN	CHF 641.00	CHF 463.92	−28%

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Frequently asked questions

Is Telefonica Brasil SA ADR (VIV) overvalued or undervalued?

As of Aug 29, 2026, our model estimates a fair value of $16.06 versus a price of $11.80, about +36% upside (undervalued).

What is the fair value of VIV?

Our model-based fair value for Telefonica Brasil SA ADR is $16.06 (as of Aug 29, 2026), built from audited fundamentals. The current price: $11.80.

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 ADR (VIV)?

Our model-based price target is the fair value of $16.06 (as of Aug 29, 2026) from 24 valuation models. Cautious scenario $12.05, optimistic scenario $20.08. 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 $16.06, about +36% upside versus a price of $11.80 (undervalued). Cautious scenario $12.05, optimistic scenario $20.08. The calculation is refreshed regularly with new filings.

What is the revenue of Telefonica Brasil SA ADR (VIV)?

Telefonica Brasil SA ADR reported trailing-twelve-month revenue of about $60.7B (latest available figure, as of Aug 29, 2026).

What is the net profit margin of VIV?

The net profit margin of Telefonica Brasil SA ADR is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.

Does Telefonica Brasil SA ADR pay a dividend?

Telefonica Brasil SA ADR currently shows a dividend yield of about 6.39% relative to its recent price (as of Aug 29, 2026).

What is the intrinsic value of Telefonica Brasil SA ADR (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 $16.06 per share (as of Aug 29, 2026), against a price of $11.80. 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 Aug 29, 2026, VIV trades below its calculated fair value: price $11.80, fair value $16.06, 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 ($11.80); the fair value is what the company's own numbers justify ($16.06). For Telefonica Brasil SA ADR the two are $4.26 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 $19.0B (market capitalisation, as of Aug 29, 2026). Per share that is $11.80; our models calculate a fair value of $16.06 per share.

What do the bullish and bearish scenarios say about VIV?

Our models span a range for Telefonica Brasil SA ADR: cautious scenario $12.05, base $16.06, optimistic $20.08 per share (as of Aug 29, 2026, price $11.80). 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 15.5 (as of Aug 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $16.06 is built from several models across several years. Other multiples: PEG 1.1.

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 Aug 29, 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 ADR (VIV)?

Balance-sheet figures for Telefonica Brasil SA ADR (as of Aug 29, 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 $11.80, about 29% below its 52-week high of $16.58 and 16% above the low of $10.15 (as of Aug 29, 2026). Distance from the high says nothing about value: that is what the fair value of $16.06 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 Aug 29, 2026: price $11.80, calculated fair value $16.06 (+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 $16.06, with the spread shown as a cautious and an optimistic scenario.

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