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TIMB

TIM S.A.

TIMB

TIM S.A. • NYSE
$23.50 ▲ 0.71% (+0.17)
Market Cap $11.37 B
52w High $23.88
52w Low $11.32
Dividend Yield 1.62%
P/E 15.26
Volume 140.11K
Outstanding Shares 483.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.711B ▲ $2.02B ▲ $1.208B ▲ 17.996% ▲ $2.45 ▲ $2.775B ▼
Q2-2025 $6.6B ▲ $1.964B ▼ $975.386M ▲ 14.779% ▲ $1.95 ▲ $3.739B ▲
Q1-2025 $6.394B ▼ $2.018B ▲ $797.622M ▼ 12.475% ▼ $1.6 ▼ $3.073B ▼
Q4-2024 $6.631B ▲ $1.828B ▲ $1.048B ▲ 15.808% ▲ $2.3 ▲ $3.472B ▲
Q3-2024 $6.419B $1.786B $805.026M 12.541% $1.65 $3.423B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.529B ▲ $57.371B ▲ $32.158B ▲ $25.213B ▲
Q2-2025 $5.474B ▲ $56.955B ▲ $31.829B ▼ $25.125B ▲
Q1-2025 $5.327B ▼ $56.459B ▲ $32.003B ▲ $24.456B ▼
Q4-2024 $5.693B ▲ $56.327B ▲ $29.923B ▲ $26.405B ▲
Q3-2024 $4.332B $54.536B $28.559B $25.977B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.208B ▲ $3.703B ▲ $-1.243B ▼ $-1.781B ▲ $678.918M ▲ $2.729B ▲
Q2-2025 $1.174B ▲ $2.971B ▲ $-800.618M ▲ $-2.016B ▼ $154.249M ▲ $2.089B ▲
Q1-2025 $693.672M ▼ $2.496B ▼ $-1.333B ▲ $-1.582B ▲ $-418.375M ▼ $1.157B ▼
Q4-2024 $1.138B ▲ $4.521B ▲ $-1.698B ▲ $-1.852B ▼ $971.413M ▲ $3.147B ▲
Q3-2024 $805.026M $3.478B $-1.748B $-1.554B $176.179M $2.582B

Five-Year Company Overview

Income Statement

Income Statement TIM’s income statement shows a steady build‑up of scale and profitability over the last five years. Revenue has grown each year, and profits before and after financing costs have generally moved higher as well. This points to a business that is not only adding customers and usage, but also managing costs more effectively over time. Net income has had some bumpier years, which is common in telecom due to regulatory, tax, and financing swings, but the overall direction is favorable. Profitability looks healthier now than it did a few years ago, suggesting better pricing discipline, efficiency gains, and benefits from a larger network and customer base.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive telecom operator that has grown its asset base and kept equity moving upward. Total assets have expanded meaningfully, driven by network and spectrum investments. Shareholders’ equity has also risen, which is a positive sign of value accumulation over time. Debt levels are elevated compared with earlier years but have started to edge down from their peak, indicating some discipline in leverage after a period of heavy investment and acquisitions. Cash on hand is modest rather than abundant, which is typical for this industry, and means the company needs to keep funding itself primarily through ongoing cash generation and prudent borrowing. Overall, the financial structure looks solid but clearly geared toward continued investment and growth.

Cash Flow

Cash Flow Cash flow is one of TIM’s key strengths. Operating cash generation has been consistently strong, more than covering heavy investment in the network. Despite sizeable capital spending, free cash flow has grown over the period, which signals a business that can invest for the future while still generating surplus cash. This provides flexibility to manage debt, fund new projects, and absorb shocks. The main trade‑off is that maintaining and upgrading telecom infrastructure will likely keep capital spending high, so sustaining this level of cash generation is crucial. As long as operating cash flow stays robust, the company has good room to maneuver.

Competitive Edge

Competitive Edge TIM holds a strong competitive position in Brazil’s telecom market, built on broad network coverage and a strategic focus on attractive niches. It has been a leader in 4G coverage, including in rural areas, and is at the forefront of 5G rollout in major cities. The acquisition of Oi’s mobile assets has bolstered its customer base and spectrum holdings, reinforcing its scale. A key differentiator is its deep push into B2B, especially in agribusiness, where rural coverage and tailored solutions create high switching costs for clients. However, the company still operates in an intensely competitive and heavily regulated market, with price pressure from rivals and ongoing political and economic risk in Brazil. Its edge depends on keeping network quality high and turning its rural and 5G leadership into durable customer loyalty and higher‑value services.

Innovation and R&D

Innovation and R&D TIM is investing aggressively in innovation rather than treating connectivity as a commodity. It is a front‑runner in 5G and is already testing more advanced 5G technologies, positioning itself for future services that demand very high speed and reliability. The company has built a nationwide IoT network and created a dedicated IoT unit, targeting sectors like agribusiness, utilities, logistics, and advanced manufacturing. This comes with specific solutions—such as smart metering and smart lighting—and bespoke services for farms and industrial clients. On top of that, TIM is using AI and automation to improve customer service and internal efficiency, and it is forming partnerships in cloud, digital transformation, and app distribution. The opportunity is to turn these technologies into recurring, higher‑margin service revenues; the risk is execution complexity, high upfront investment, and uncertain timing of returns in new areas like advanced 5G and enterprise IoT.

Summary

TIM S.A. combines improving financial performance with a differentiated strategic position in the Brazilian telecom market. Revenues and core profits have trended upward, free cash flow is solid despite substantial capital spending, and the balance sheet, while leveraged, appears manageable for a telecom operator of this scale. Competitively, TIM stands out for its network breadth, especially in rural areas, and its early lead in 5G, which it is using to push deeper into B2B and IoT, with a strong emphasis on agribusiness and industrial clients. Innovation in 5G, IoT, AI, and cloud‑related services offers meaningful growth avenues. Key things to watch include: the company’s ability to keep monetizing its 5G and IoT investments; how effectively it manages debt and ongoing capital spending; and how it navigates competitive intensity and regulatory shifts in Brazil. Overall, the story is one of a maturing, cash‑generative telecom operator aiming to reposition itself as a broader digital and infrastructure partner for businesses and consumers.

NEWS

October 22, 2025 · 4:05 PM UTC

FIRST FINANCIAL BANK ANNOUNCES THE ELECTION OF TIM BROWN AS CHIEF INFORMATION OFFICER AND TRANSITION OF JOHN RUZICKA TO CHIEF BANKING OPERATIONS OFFICER

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