Telefonica Brasil SA ADR
NYSE: VIV · COMMUNICATION SERVICES · TELECOM SERVICES
Updated 2026-06-05
Telefonica Brasil SA ADR (VIV) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.61B | $14.73B | $15.98B | $15.81B | $15.80B | $29.12B | $33.92B | $34.72B | $35.00B | $40.29B | $42.51B | $43.21B | $43.46B | $44.27B | $43.13B | $44.03B | $48.04B | $52.10B | $55.85B | $58.42B |
| Revenue growth (YoY) | — | +0.8% | +8.5% | -1.1% | -0.0% | +84.3% | +16.5% | +2.4% | +0.8% | +15.1% | +5.5% | +1.6% | +0.6% | +1.9% | -2.6% | +2.1% | +9.1% | +8.4% | +7.2% | +4.6% |
| Cost of revenue | $7.76B | $8.02B | $8.73B | $9.09B | $8.84B | $15.04B | $16.56B | $17.54B | $17.22B | $20.35B | $20.82B | $20.27B | $21.03B | $22.16B | $22.69B | $24.78B | $27.43B | $29.42B | $31.35B | $34.80B |
| Gross profit | $6.85B | $6.70B | $7.25B | $6.71B | $6.95B | $14.08B | $17.36B | $17.18B | $17.78B | $19.94B | $21.69B | $22.93B | $22.44B | $22.11B | $20.43B | $19.25B | $20.61B | $22.68B | $24.49B | $23.62B |
| Gross margin | 46.9% | 45.5% | 45.4% | 42.5% | 44.0% | 48.4% | 51.2% | 49.5% | 50.8% | 49.5% | 51.0% | 53.1% | 51.6% | 49.9% | 47.4% | 43.7% | 42.9% | 43.5% | 43.9% | 40.4% |
| R&D | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SG&A | $983000.00 | $1.00B | $677.19M | $754.98M | $1.09B | $2.59B | $3.08B | $3.13B | $3.24B | $3.80B | $4.50B | $1.93B | $1.99B | $1.64B | $1.57B | $4.44B | $6.18B | $5.55B | $5.95B | $12.87B |
| Operating income | $3.89B | $3.21B | $3.44B | $3.42B | $3.26B | $5.80B | $7.21B | $4.93B | $5.11B | $5.24B | $6.37B | $6.63B | $9.46B | $7.21B | $6.58B | $7.09B | $6.60B | $7.92B | $8.67B | $8.90B |
| Operating margin | 26.6% | 21.8% | 21.5% | 21.7% | 20.7% | 19.9% | 21.3% | 14.2% | 14.6% | 13.0% | 15.0% | 15.3% | 21.8% | 16.3% | 15.3% | 16.1% | 13.7% | 15.2% | 15.5% | 15.2% |
| EBITDA | $6.56B | $5.91B | $6.70B | $6.14B | $5.71B | $10.72B | $13.10B | $10.53B | $10.23B | $11.43B | $13.07B | $13.72B | $19.83B | $17.46B | $17.36B | $18.19B | $17.84B | $19.52B | $21.54B | $24.24B |
| EBITDA margin | 44.9% | 40.1% | 41.9% | 38.8% | 36.2% | 36.8% | 38.6% | 30.3% | 29.2% | 28.4% | 30.7% | 31.8% | 45.6% | 39.4% | 40.3% | 41.3% | 37.1% | 37.5% | 38.6% | 41.5% |
| EBIT | $3.89B | $3.21B | $3.92B | $3.63B | $3.80B | $6.14B | $7.61B | $4.89B | $4.94B | $4.61B | $5.41B | $5.87B | $11.46B | $6.54B | $6.14B | $6.15B | $5.18B | $6.13B | $7.34B | $9.59B |
| Interest expense | $0.00 | $0.00 | $290.82M | $442.87M | $120.70M | $484.66M | $889.80M | $1.01B | $1.08B | $380.30M | $361.40M | $1.07B | $510.40M | $247.28M | $777.85M | $924.00M | $2.20B | $451.69M | $577.23M | $2.46B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $2.81B | $2.36B | $2.42B | $2.17B | $2.40B | $4.36B | $4.45B | $3.72B | $4.94B | $3.33B | $4.09B | $4.61B | $8.93B | $5.00B | $4.77B | $6.24B | $4.09B | $5.03B | $5.55B | $6.05B |
| Net income growth (YoY) | — | -15.9% | +2.4% | -10.2% | +10.4% | +81.6% | +2.2% | -16.5% | +32.9% | -32.5% | +22.6% | +12.8% | +93.7% | -44.0% | -4.6% | +30.8% | -34.5% | +23.1% | +10.3% | +9.0% |
| Profit margin | 19.2% | 16.0% | 15.1% | 13.7% | 15.2% | 15.0% | 13.1% | 10.7% | 14.1% | 8.3% | 9.6% | 10.7% | 20.5% | 11.3% | 11.1% | 14.2% | 8.5% | 9.7% | 9.9% | 10.3% |
Frequently asked questions
What is Telefonica Brasil SA ADR's revenue?
Telefonica Brasil SA ADR's trailing twelve-month revenue is $60.66B, and consensus projects about $81.69B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is VIV?
In its most recent fiscal year, VIV ran a gross margin of 40.43%, an operating margin of 15.23%, and a net margin of 10.35%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does VIV generate?
VIV produced $11.04B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is VIV's balance sheet healthy?
VIV holds $7.14B in cash and equivalents against $4.45B in long-term debt, on $68.69B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.