Valuation TIM S.A.

Equities

Market Closed - Sao Paulo Other stock markets 04:07:33 2026-04-09 pm EDT			5-day change	1st Jan Change
27.73 ^BRL	+0.58%		+2.17%	+29.94%

Mar. 02	Nokia expands partnerships with TIM Brasil, Deutsche Telekom in AI technology push	RE
Feb. 26	Tim S.A. Announces Changes in the Composition of the Board of Directors	CI

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	31,828	30,012	43,397	35,047	51,321	66,238	-	-
Change	-	-5.7%	44.6%	-19.24%	46.44%	29.07%	-	-
Enterprise Value (EV) ¹	34,940	43,835	55,039	45,560	62,433	75,974	75,331	75,346
Change	-	25.46%	25.56%	-17.22%	37.04%	21.69%	-0.85%	0.02%
P/E ratio	10.8x	18x	15.3x	11.1x	12x	14.3x	12.4x	11.2x
PBR	1.27x	1.18x	1.67x	1.33x	2.13x	2.9x	3.01x	3.03x
PEG	-	-0.4x	0.2x	1x	0.3x	1.56x	0.8x	1x
Capitalization / Revenue	1.76x	1.39x	1.82x	1.38x	1.93x	2.37x	2.27x	2.18x
EV / Revenue	1.93x	2.04x	2.31x	1.79x	2.34x	2.72x	2.59x	2.48x
EV / EBITDA	4x	4.36x	4.74x	3.61x	4.6x	5.23x	4.92x	4.67x
EV / EBIT	11.5x	13.9x	11.7x	8.27x	9.77x	10.4x	9.28x	8.45x
EV / FCF	7.29x	9.33x	6.95x	5.86x	7.02x	11.1x	9.96x	9.41x
FCF Yield	13.7%	10.7%	14.4%	17.1%	14.3%	9.01%	10%	10.6%
Dividend per Share ²	0.37	0.74	0.661	0.5992	2.24	2.013	2.214	2.427
Rate of return	2.81%	5.97%	3.69%	4.14%	10.5%	7.26%	7.99%	8.75%
EPS ²	1.22	0.69	1.17	1.3	1.778	1.94	2.228	2.467
Distribution rate	30.3%	107%	56.5%	46.1%	126%	104%	99.4%	98.4%
Net sales ¹	18,058	21,531	23,834	25,448	26,625	27,904	29,130	30,368
EBITDA ¹	8,738	10,049	11,620	12,625	13,577	14,533	15,319	16,130
EBIT ¹	3,034	3,160	4,717	5,507	6,391	7,331	8,114	8,913
Net income ¹	2,957	1,671	2,837	3,154	4,312	4,791	5,283	5,676
Net Debt ¹	3,112	13,822	11,642	10,513	11,112	9,736	9,093	9,108
Reference price ²	13.15	12.40	17.93	14.48	21.34	27.73	27.73	27.73
Nbr of stocks (in thousands)	2,420,358	2,420,358	2,420,358	2,420,358	2,404,921	2,388,668	-	-
Announcement Date	2/23/22	2/9/23	2/6/24	2/10/25	2/10/26	-	-	-

¹BRL in Million²BRL

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
TIM S.A.	14.29x	2.72x	5.23x	7.26%	13.05B
VERIZON COMMUNICATIONS, INC.	9.97x	2.44x	6.65x	5.88%	200B
DEUTSCHE TELEKOM AG	15.69x	2.32x	6.03x	3.6%	176B
NTT, INC.	12.09x	1.73x	7.1x	3.45%	79.09B
AMÉRICA MÓVIL, S.A.B. DE C.V.	16.34x	2.2x	5.56x	2.21%	81.48B
SINGAPORE TELECOMMUNICATIONS LIMITED	29.44x	6.07x	21.98x	3.79%	64.07B
SAUDI TELECOM COMPANY	15.16x	2.62x	8.24x	5.17%	56.86B
ORANGE	16.1x	1.94x	6.11x	4.34%	56.2B
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	14.42x	2.68x	6.19x	4.63%	47.07B
SWISSCOM AG	25.72x	3.49x	7.72x	3.96%	44.68B
Average	16.92x	2.82x	8.08x	4.43%	81.86B
Weighted average by Cap.	15.53x	2.66x	7.73x	4.32%