TIM S.A.

BOVESPA:TIMS3 Stock Report

Market Cap: R$58.4b

TIM Future Growth

Future criteria checks 1/6

TIM is forecast to grow earnings and revenue by 7.1% and 3.9% per annum respectively. EPS is expected to grow by 7.6% per annum. Return on equity is forecast to be 24% in 3 years.

Key information

7.1%

Earnings growth rate

7.55%

EPS growth rate

Wireless Telecom earnings growth4.4%
Revenue growth rate3.9%
Future return on equity24.00%
Analyst coverage

Good

Last updated07 May 2026

Recent future growth updates

Analysis Article • Feb 13

TIM S.A. (BVMF:TIMS3) Full-Year Results: Here's What Analysts Are Forecasting For This Year

It's been a pretty great week for TIM S.A. ( BVMF:TIMS3 ) shareholders, with its shares surging 11% to R$28.29 in the...
Analysis Article • Nov 06

TIM S.A. Just Beat EPS By 33%: Here's What Analysts Think Will Happen Next

Last week saw the newest third-quarter earnings release from TIM S.A. ( BVMF:TIMS3 ), an important milestone in the...

Recent updates

Narrative Update • May 05

TIMS3: Governance Resolutions And Buybacks Will Support A Steady Outlook

Analysts now see TIM's fair value edging up from R$27.31 to R$27.81. This reflects slightly higher assumptions for long term profit margins and future P/E, while revenue growth and the discount rate are kept broadly unchanged.
Narrative Update • Apr 20

TIMS3: Lease Efficiency And Governance Changes Will Shape Measured Outlook

Analysts have nudged their fair value estimate for TIM slightly higher to R$27.31, reflecting small tweaks to assumptions about revenue growth, profit margins, and the forward P/E outlook. What's in the News TIM issued earnings guidance for 2026, indicating expected service revenue growth of around 5% year over year.
New Narrative • Apr 13

5G Expansion And ESG Commitments Will Constrain Margins And Future Cash Generation

Catalysts About TIM TIM operates mobile, broadband and B2B connectivity and digital services in Brazil. What are the underlying business or industry changes driving this perspective?
Narrative Update • Apr 04

TIMS3: Governance Updates And Lease Efficiency Plan Will Support Balanced Outlook

Analysts have raised their price target for TIM to R$26.98 from R$26.22, citing updated assumptions for slightly stronger revenue growth, a modestly higher profit margin, and a largely unchanged forward P/E. What's in the News Shareholders approved an amendment and restatement of TIM S.A.'s by laws at the Ordinary and Extraordinary General Meeting held on March 30, 2026, updating the company's formal governance framework (Key Developments).
Narrative Update • Mar 20

TIMS3: Buybacks And Fibre Stake Talks Will Shape Balanced Outlook

Analysts now see TIM’s fair value edging up from R$26.02 to R$26.22, reflecting slightly different views on revenue growth, profit margins and future P/E, which together support a modestly higher price target. What's in the News TIM scheduled a board meeting on March 18, 2026, to decide on a proposal for paying interest on shareholders' equity, which directly relates to how cash returns may be allocated to investors.
Narrative Update • Mar 06

TIMS3: Tower Deal And Buyback Activity Will Shape Balanced Outlook

Analysts nudged their fair value estimate for TIM higher to R$26.02 from R$25.81, citing only small adjustments to long term revenue growth assumptions, profit margins and future P/E expectations. What's in the News TIM set a Special and Extraordinary Shareholders Meeting for March 31, 2026, in Rio de Janeiro, with details indicating a broad agenda for shareholder decisions (company event filing).
Narrative Update • Feb 19

TIMS3: Fibre Buyback Talks And Tower Deal Will Shape Balanced Outlook

Analysts have nudged their fair value estimate for TIM higher to R$25.81 from R$25.66, supported by updated assumptions that include slightly different revenue growth, profit margin and forward P/E expectations, along with a small adjustment to the discount rate. What's in the News TIM is in talks to buy back a 51% stake in fibre network unit I-Systems, which it previously sold to IHS Towers in 2021, with the stake described as potentially worth around US$170 million.
Analysis Article • Feb 13

TIM S.A. (BVMF:TIMS3) Full-Year Results: Here's What Analysts Are Forecasting For This Year

It's been a pretty great week for TIM S.A. ( BVMF:TIMS3 ) shareholders, with its shares surging 11% to R$28.29 in the...
Narrative Update • Feb 05

TIMS3: Fibre Unit Reacquisition Talks And Board Agenda Will Guide Steady Outlook

Analysts have nudged their price target on TIM slightly higher to reflect updated assumptions around revenue growth of about 4.37% and a P/E near 19.62x, while keeping fair value broadly in line at about $25.66 per share. What's in the News TIM S.A. is in talks to buy back a 51% stake in fibre network unit I Systems, a business it previously controlled, in a potential deal valued around $170 million.
Narrative Update • Jan 22

TIMS3: Upcoming Board Agendas And Stable Outlook Will Shape Measured Upside Potential

Analysts have nudged their price target on TIM slightly lower to $25.66 from $25.81, reflecting fine tuning of assumptions around revenue growth, profit margins and future P/E expectations. What's in the News TIM has scheduled a board meeting for Dec 16, 2025, at 09:00 US Eastern Standard Time to review activities of the Environmental, Social & Governance Committee, Control and Risks Committee, and Statutory Audit Committee; consider profit distribution to shareholders; review the Industrial Plan; and approve the 2026 budget (Key Developments).
Analysis Article • Jan 16

Returns On Capital Are Showing Encouraging Signs At TIM (BVMF:TIMS3)

What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...
Narrative Update • Jan 06

TIMS3: Future Board Actions And New Site Buildout Will Unlock Upside

Analysts have kept their price target for TIM effectively unchanged at about $25.81. This reflects only minimal tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions.
Analysis Article • Dec 26

Unpleasant Surprises Could Be In Store For TIM S.A.'s (BVMF:TIMS3) Shares

With a price-to-earnings (or "P/E") ratio of 12.8x TIM S.A. ( BVMF:TIMS3 ) may be sending bearish signals at the...
Narrative Update • Dec 20

TIMS3: Future Board Decisions Will Support Upside From Expanded Infrastructure Partnership

Narrative Update on TIM Analyst Price Target Analysts have raised their price target on TIM slightly, to approximately $25.81 from about $25.59, citing marginal improvements in forward valuation multiples and profit margin expectations while keeping growth assumptions largely unchanged. What's in the News TIM has scheduled a December 16, 2025 board meeting to review ESG, risk, and audit committee activities, decide on profit distribution to shareholders, and approve the 2026 industrial plan and budget (company filing).
Narrative Update • Dec 06

TIMS3: Future Board Actions And Network Buildout Will Support Balanced Outlook

Narrative Update on TIM Analyst Price Target Analysts have trimmed their price target on TIM slightly, lowering it by approximately $0.07 as they incorporate marginally softer long term assumptions for valuation multiples, while leaving core growth and profitability expectations largely unchanged. What's in the News IHS Brazil signed a New Site agreement with TIM S.A. to build up to 3,000 telecom sites across multiple Brazilian regions, with an initial minimum deployment of 500 sites, extending their infrastructure partnership that began in 2020 (Key Developments).
Narrative Update • Nov 22

TIMS3: Board Oversight And Network Expansion Will Support Measured Performance Ahead

Analysts have raised their price target for TIM slightly, from $25.42 to approximately $25.66. They cite incremental improvements in profit margin forecasts and overall valuation metrics as reasons for the change.
Analysis Article • Nov 14

TIM's (BVMF:TIMS3) Performance Is Even Better Than Its Earnings Suggest

The subdued stock price reaction suggests that TIM S.A.'s ( BVMF:TIMS3 ) strong earnings didn't offer any surprises...
Narrative Update • Nov 07

TIMS3: Board Decisions And Infrastructure Expansion Will Drive Steady Performance

Narrative Update on TIM: Analyst Price Target Revision Analysts have increased their price target for TIM from $24.69 to $25.42. This reflects slightly higher profit margin forecasts and only minor changes to growth and valuation assumptions.
Analysis Article • Nov 06

TIM S.A. Just Beat EPS By 33%: Here's What Analysts Think Will Happen Next

Last week saw the newest third-quarter earnings release from TIM S.A. ( BVMF:TIMS3 ), an important milestone in the...
Analysis Article • Oct 09

TIM's (BVMF:TIMS3) Returns On Capital Are Heading Higher

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Narrative Update • Sep 26

5G Expansion And IoT Integration Will Unlock Telecom Potential

With consensus forecasts for TIM’s future P/E and revenue growth essentially flat, the analyst price target saw only a marginal upward revision to R$24.69. What's in the News Board meeting held to resolve agreements related to the company's energy self-production project.
Analysis Article • Sep 18

TIM (BVMF:TIMS3) Seems To Use Debt Quite Sensibly

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Narrative Update • Sep 11

5G Expansion And IoT Integration Will Unlock Telecom Potential

TIM’s future P/E has risen markedly while its net profit margin has declined, suggesting higher investor expectations despite weaker profitability, resulting in a negligible analyst price target increase from R$24.09 to R$24.35. What's in the News Board meeting scheduled to review activities of ESG, Control & Risks, and Statutory Audit Committees, consider amendments to Corporate Risk Management Policy, acknowledge quarterly financial report, and discuss other matters.
Narrative Update • Aug 27

5G Expansion And IoT Integration Will Unlock Telecom Potential

TIM’s consensus revenue growth forecast has edged down while its future P/E multiple has ticked up, leaving the analyst price target largely unchanged with a marginal increase to R$23.74. What's in the News Board to review ESG, Audit, and Control & Risks Committee activities, consider amendment to Corporate Risk Management Policy, and acknowledge quarterly financial report.
Analysis Article • Aug 07

Pinning Down TIM S.A.'s (BVMF:TIMS3) P/E Is Difficult Right Now

When close to half the companies in Brazil have price-to-earnings ratios (or "P/E's") below 8x, you may consider TIM...
Analysis Article • Jun 26

There's Been No Shortage Of Growth Recently For TIM's (BVMF:TIMS3) Returns On Capital

To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...
Analysis Article • May 15

We Think TIM's (BVMF:TIMS3) Profit Is Only A Baseline For What They Can Achieve

TIM S.A.'s ( BVMF:TIMS3 ) strong earnings report was rewarded with a positive stock price move. Our analysis found some...
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New Narrative • Dec 01

Rock-Solid Expansion And Tactical Innovation To Propel Earnings Growth

Aggressive sponsorship initiatives and network investments may boost brand perception, customer base, and mobile services revenue, enhancing net margins through efficiencies.

Earnings and Revenue Growth Forecasts

BOVESPA:TIMS3 - Analysts future estimates and past financials data (BRL Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202830,2365,6768,00711,13910
12/31/202729,1075,3637,56210,62514
12/31/202628,1014,7366,84611,0324
3/31/202627,0374,3319,05413,610N/A
12/31/202526,6254,3128,81413,440N/A
9/30/202526,3354,0299,03613,691N/A
6/30/202526,0433,6268,83513,466N/A
3/31/202525,7463,4328,43113,182N/A
12/31/202425,4483,1547,65012,332N/A
9/30/202425,0923,1888,00612,659N/A
6/30/202424,7293,0997,96512,665N/A
3/31/202424,2892,9447,48312,107N/A
12/31/202323,8342,8377,86312,421N/A
9/30/202323,3832,2936,42211,009N/A
6/30/202322,9392,0256,38910,956N/A
3/31/202322,4441,6785,31110,002N/A
12/31/202221,5311,6714,4329,162N/A
9/30/202220,5062,1483,3358,848N/A
6/30/202219,4072,6932,7588,189N/A
3/31/202218,4453,0863,9609,248N/A
12/31/202118,0582,9574,79410,078N/A
9/30/202117,9372,9556,06310,653N/A
6/30/202117,8122,3535,52510,069N/A
3/31/202117,3921,9595,82510,136N/A
12/31/202017,2681,8444,7838,674N/A
9/30/202017,1761,3344,7908,559N/A
6/30/202017,1261,6894,6618,497N/A
3/31/202017,4023,6643,1497,257N/A
12/31/201917,3773,622N/A7,065N/A
9/30/201917,2483,751N/A6,401N/A
6/30/201917,1524,339N/A5,983N/A
3/31/201917,0522,420N/A5,766N/A
12/31/201816,9812,545N/A6,129N/A
9/30/201816,7812,517N/A6,418N/A
6/30/201816,6231,463N/A6,517N/A
3/31/201816,4021,348N/A6,786N/A
12/31/201716,2341,235N/A5,404N/A
9/30/201716,021994N/A4,884N/A
6/30/201715,837899N/A4,978N/A
3/31/201715,714755N/A5,075N/A
12/31/201615,617750N/A4,992N/A
9/30/201615,689852N/A4,675N/A
6/30/201615,9051,027N/A4,147N/A
3/31/201616,4451,896N/A4,199N/A
12/31/201517,1422,085N/A4,278N/A
9/30/201518,1962,080N/A5,908N/A
6/30/201518,9332,070N/A6,312N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TIMS3's forecast earnings growth (7.1% per year) is below the savings rate (12.4%).

Earnings vs Market: TIMS3's earnings (7.1% per year) are forecast to grow slower than the BR market (12.1% per year).

High Growth Earnings: TIMS3's earnings are forecast to grow, but not significantly.

Revenue vs Market: TIMS3's revenue (3.9% per year) is forecast to grow slower than the BR market (6.2% per year).

High Growth Revenue: TIMS3's revenue (3.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TIMS3's Return on Equity is forecast to be high in 3 years time (24%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/07 12:45
End of Day Share Price 2026/05/07 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

TIM S.A. is covered by 32 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michel MorinBarclays
Maurice PatrickBarclays
Mathieu RobilliardBarclays