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TELEFONICA BRASIL S.A.

VIV Clue Score61
$12.16 -0.33% Close, 12 Oct 2026
Price $12.16 +50.31% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
Operating incomeNet income
Fiscal year 2016Operating income6.37Net income4.09Fiscal year 2017Operating income6.63Net income4.61 +12.8%Fiscal year 2018Operating income9.46Net income8.93 +93.7%Fiscal year 2019Operating income7.21Net income5.00 −44.0%Fiscal year 2020Operating income6.58Net income4.77 −4.6%Fiscal year 2021Operating income7.09Net income6.24 +30.8%EPS, diluted3.71Fiscal year 2022Operating income6.60Net income4.09 −34.5%EPS, diluted2.44 −34.2%Fiscal year 2023Operating income7.92Net income5.03 +23.1%EPS, diluted1.52 −37.7%Fiscal year 2024Operating income8.67Net income5.55 +10.3%EPS, diluted1.69 +11.2%Fiscal year 2025Operating income9.86Net income6.17 +11.2%EPS, diluted1.91 +13.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating income 6.37 6.63 9.46 7.21 6.58 7.09 6.60 7.92 8.67 9.86
Net income 4.09 4.61 8.93 5.00 4.77 6.24 4.09 5.03 5.55 6.17
Growth +12.8% +93.7% −44.0% −4.6% +30.8% −34.5% +23.1% +10.3% +11.2%
EPS, diluted n/a n/a n/a n/a n/a 3.71 2.44 1.52 1.69 1.91
Growth −34.2% −37.7% +11.2% +13.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow11.44Capital expenditure−7.47Free cash flow3.97Dividends paid−2.97Fiscal year 2017Operating cash flow12.64Capital expenditure−8.37Free cash flow4.27 +7.6%Dividends paid−3.67Fiscal year 2018Operating cash flow11.94Capital expenditure−8.52Free cash flow3.42 −19.9%Dividends paid−4.14Fiscal year 2019Operating cash flow17.72Capital expenditure−8.84Free cash flow8.88 +159.4%Dividends paid−6.18Fiscal year 2020Operating cash flow19.34Capital expenditure−8.29Free cash flow11.05 +24.4%Buybacks−0.02Dividends paid−5.26Fiscal year 2021Operating cash flow18.07Capital expenditure−9.30Free cash flow8.78 −20.6%Buybacks−0.50Dividends paid−4.90Fiscal year 2022Operating cash flow18.94Capital expenditure−9.89Free cash flow9.05 +3.1%Buybacks−0.61Dividends paid−5.71Fiscal year 2023Operating cash flow18.79Capital expenditure−8.81Free cash flow9.97 +10.2%Buybacks−0.49Dividends paid−3.83Fiscal year 2024Operating cash flow19.88Capital expenditure−9.32Free cash flow10.55 +5.8%Buybacks−1.30Dividends paid−2.53Fiscal year 2025Operating cash flow20.72Capital expenditure−9.46Free cash flow11.26 +6.7%Buybacks−1.75Dividends paid−2.19
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 11.44 12.64 11.94 17.72 19.34 18.07 18.94 18.79 19.88 20.72
Capital expenditure −7.47 −8.37 −8.52 −8.84 −8.29 −9.30 −9.89 −8.81 −9.32 −9.46
Free cash flow 3.97 4.27 3.42 8.88 11.05 8.78 9.05 9.97 10.55 11.26
Growth +7.6% −19.9% +159.4% +24.4% −20.6% +3.1% +10.2% +5.8% +6.7%
Buybacks n/a n/a n/a n/a −0.02 −0.50 −0.61 −0.49 −1.30 −1.75
Dividends paid −2.97 −3.67 −4.14 −6.18 −5.26 −4.90 −5.71 −3.83 −2.53 −2.19

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash and securities
Fiscal year 2016Cash and securities5.11Shareholders’ equity69.24Fiscal year 2017Cash and securities4.05Shareholders’ equity73.78Fiscal year 2018Cash and securities3.38Shareholders’ equity71.61Fiscal year 2019Cash and securities3.39Shareholders’ equity70.46Fiscal year 2020Cash and securities5.76Shareholders’ equity69.56Fiscal year 2021Cash and securities6.45Shareholders’ equity69.93Fiscal year 2022Cash and securities2.27Shareholders’ equity68.40Fiscal year 2023Cash and securities4.36Shareholders’ equity69.57Fiscal year 2024Cash and securities6.69Shareholders’ equity69.73Fiscal year 2025Cash and securities7.03Shareholders’ equity68.72
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and securities 5.11 4.05 3.38 3.39 5.76 6.45 2.27 4.36 6.69 7.03
Shareholders’ equity 69.24 73.78 71.61 70.46 69.56 69.93 68.40 69.57 69.73 68.72

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Assets
5.11 4.05 3.38 3.39 5.76 6.45 2.27 4.36 6.69 7.03
8.70 8.59 8.30 8.72 8.18 8.10 8.69 9.32 9.47 10.62
0.41 0.35 0.46 0.58 0.63 0.64 0.79 0.82 1.10 1.48
31.92 33.22 34.12 42.85 44.35 44.41 45.90 46.32 46.81 47.36
n/a 23.06 23.06 23.06 23.03 n/a n/a n/a n/a n/a
102.07 101.38 102.56 108.29 108.74 115.66 119.12 120.74 124.94 128.07
Growth −0.7% +1.2% +5.6% +0.4% +6.4% +3.0% +1.4% +3.5% +2.5%
Liabilities
32.82 31.92 30.95 37.83 39.18 45.66 50.67 51.11 55.14 59.07
Equity
69.24 73.78 71.61 70.46 69.56 69.93 68.40 69.57 69.73 68.72
Growth +6.6% −2.9% −1.6% −1.3% +0.5% −2.2% +1.7% +0.2% −1.4%
Per share and net cash
n/a n/a n/a n/a n/a 1,677 1,664 1,653 1,627 3,196
calc n/a n/a n/a n/a n/a 41.70 41.12 42.10 42.87 21.51

† The number of shares outstanding jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split. This count is a different filed figure from the diluted average on the income statement, so it can break in a different year.

Lines marked calc are worked out here from filed figures; point at one for how.