Telefônica Brasil Q4: The Cash Machine Is Working Again

2026-02-24 08:15:00 ET

In my last coverage of Telefônica Brasil ( VIV ), I had mentioned the following points that supported my bullish investment thesis:

Getting straight to the point, what I basically want to see for Telefônica Brasil's long thesis to hold up are four main drivers: (1) CapEx falling (post-5G and mature fiber); (2) OpCF growing (in this case, EBITDA minus CapEx on an improving trend); (3) FCF skyrocketing; and (4) a high and sustainable payout based on dividends and capital reductions.

Read the full article on Seeking Alpha

For further details see: