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TIM SA ADR - Stock Quote TIMB

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Morningstar's TIM SA ADR Stock Analysis

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TIM Continues to Build Postpaid Momentum in Q1

Analyst Note

| Michael Hodel, CFA |

TIM again delivered solid postpaid customer growth during the first quarter, building on the momentum gained in late 2021. With the Oi acquisition closed, management provided medium-term financial expectations, calling for high-single-digit revenue growth and steady margin improvement through 2027. We believe these figures are reasonable. We’re leaving our fair value estimate at $16 per ADR.

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TIM SA ADR's Company Profile

Business Description

TIM is one of the top three wireless carriers by subscribers in Brazil, with 52 million subscribers, equal to about 20% of the market. TIM also owns some fixed-line assets, including an extensive long-haul fiber network and local networks that reach about 6.7 million locations (a bit less than 10% of the country). The firm is investing to expand its fiber network to more customer locations, including through its minority ownership in an infrastructure partnership. TIM leases capacity on the venture's network to serve retail customers. The company is 67%-owned by Telecom Italia.

Avenida Joao Cabral de Melo Neto, 850, Torre Norte, 12th Floor, Room 1212
Rio de Janeiro, RJ, 22775-057, Brazil
T +55 2141094167
Sector Communication Services
Industry Telecom Services
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 9,337

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