TIM (ADR)
Connects Brazil through mobile networks, fiber broadband and enterprise digital services.
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Profile
Provides mobile service across Brazil through nationwide spectrum and a fiber-backed network, with TIM Ultrafibra broadband and enterprise connectivity, cloud, digital-transformation and managed services extending the platform. The business remains mobile-led and depends on regulated spectrum, network execution and a Brazil-focused customer base.
Provides mobile connectivity across Brazil, supported by nationwide spectrum, a fiber-backed network and 5G coverage. Consumer offerings extend into TIM Ultrafibra broadband, while enterprise operations add connectivity, cloud, artificial-intelligence, digital-transformation and managed services.
Built nationwide reach by combining regional licenses, acquiring Intelig and AES Atimus fiber assets, and integrating its allocated portion of Oi Móvel's spectrum, customers and network-use contracts. The operating model remains mobile-led even as fixed broadband and B2B digital services broaden the platform.
Revenue generation depends on a Brazil-focused customer base, access to regulated spectrum and continued network execution. Anatel governs the telecommunications environment, and control sits with a TIM-group holding company linked to Telecom Italia.
Company facts
Categories
Key statistics
Year to date −11.4% · Average volume (30d) 566.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Morgan Stanley | Reiterate | Perform | $22 | ||
| Jul 10, 2026 | Barclays | Reiterate | Equal Weight | $28 | $24 | |
| Jun 22, 2026 | Santander | Upgrade | Neutral | Outperform | ||
| May 27, 2026 | Scotiabank | Reiterate | Sector Perform | $23.60 | $28.50 | |
| May 17, 2026 | Goldman Sachs | Target | $23.40 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 27, 2026Q2 FY26 | $0.37 | $0.43 | +16.2% | $1.36B | $1.36B | +0.2% | −5.22% |
| May 5, 2026Q1 FY26 | $0.34 | $0.32 | −5.9% | $1.32B | $1.38B | +4.6% | −7.68% |
| Feb 10, 2026Q4 FY25 | $0.48 | $0.52 | +8.3% | $1.30B | $1.33B | +2.9% | +7.49% |
| Nov 3, 2025Q3 FY25 | $0.36 | $0.46 | +27.8% | $1.30B | $1.26B | −2.9% | +0.62% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.23B | $1.27B | $1.29B | $1.33B | $1.31B | $1.34B | |
| Gross profit | $635.8M | $674.8M | $708.0M | $739.7M | $684.7M | $740.6M | |
| Operating income | $248.2M | $297.5M | $319.9M | $367.3M | $302.4M | $329.9M | |
| Net income | $153.2M | $187.4M | $232.0M | $255.7M | $157.0M | $186.3M | |
| Diluted EPS | $0.31 | $0.37 | $0.48 | $0.54 | $0.33 | $0.39 | |
| Gross margin | 51.8% | 53.2% | 54.9% | 55.6% | 52.4% | 55.3% | |
| Operating margin | 20.2% | 23.5% | 24.8% | 27.6% | 23.1% | 24.7% |
Fiscal years (4-quarter sums)FY21 $3.47B · FY22 $4.14B · FY23 $4.58B · FY24 $4.89B · FY25 $5.11B
Balance sheet, Jun 30, 2026Cash & short-term investments $870.2M · Total debt $3.17B · Total assets $10.99B · Shareholders' equity $4.81B
Dividends
Last raised to $0.165 from $0.1641 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 29, 2026 | Jun 29 | Jul 29 | $0.165 | raised from $0.1641 |
| Mar 30, 2026 | Mar 30 | Apr 29 | $0.1641 | cut from $0.1866 |
| Dec 29, 2025 | Dec 29 | Jul 7 | $0.8488 | special dividend |
| Oct 3, 2025 | Oct 3 | Jan 28 | $0.1866 | raised from $0.1226 |
| Aug 4, 2025 | Aug 4 | Oct 28 | $0.1226 | raised from $0.1115 |
| May 23, 2025 | May 23 | Jul 30 | $0.1115 | cut from $0.7605 |
| Apr 10, 2025 | Apr 10 | Oct 30 | $0.7605 | raised from $0.2035 |
| Apr 4, 2025 | Apr 4 | $0.2035 | raised from $0.0717 |
Ownership
Shares outstanding 477.73M · Float 477.19M · 99.9% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Robeco Institutional Asset Management B.V. | 3.82M | 0.80% | 13F | Jul 21, 2026 |
| Renaissance Technologies LLC | 1.73M | 0.36% | 13F | Aug 13, 2026 |
| AllianceBernstein L.P. | 1.62M | 0.34% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 1.10M | 0.23% | 13F | Aug 7, 2026 |
| Macquarie Management Holdings, Inc. | 1.04M | 0.22% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 23, 2026 | Marques Andrea Palma Viegas | officer: Chief Financial Officer | −35,000 | $4.32 |
| May 18, 2026 | Auana Mattar Lima | officer: Chief Information Officer | −8,200 | $4.42 |
| Mar 26, 2026 | Vicente De Moraes Ferreira | officer: Investor Relations Officer | −68 | $5.14 |
| Mar 24, 2026 | Vicente De Moraes Ferreira | officer: Investor Relations Officer | −22,300 | $5.17 |
Peers
- Telefônica Brasil (ADR)
Vivo contests nationwide mobile, 5G, fiber, and enterprise ICT.
- América Móvil (ADR)
Claro spans nationwide mobile, 5G, broadband, and enterprise connectivity.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TIM (ADR) | $17.65 | +0.06% | $8.43B | 10.1 | 11.5 | 1.6 | +12.0% |
| Telefônica Brasil (ADR) | $11.39 | −0.13% | $18.23B | 14.3 | 13.2 | 1.5 | +14.2% |
| América Móvil (ADR) | $23.43 | +1.01% | $69.56B | 13.2 | 14.1 | 1.2 | +9.8% |
| Median | 13.7 | 13.6 | 1.4 | +12.0% |