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TIM (BSP:TIMS3) Cyclically Adjusted FCF per Share : R$1.82 (As of Mar. 2025)


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What is TIM Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

TIM's adjusted free cash flow per share for the three months ended in Mar. 2025 was R$0.478. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is R$1.82 for the trailing ten years ended in Mar. 2025.

During the past 12 months, TIM's average Cyclically Adjusted FCF Growth Rate was 35.80% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 26.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of TIM was 74.70% per year. The lowest was -15.70% per year. And the median was 26.50% per year.

As of today (2025-06-20), TIM's current stock price is R$21.20. TIM's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was R$1.82. TIM's Cyclically Adjusted Price-to-FCF of today is 11.65.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of TIM was 1065.00. The lowest was 8.53. And the median was 22.76.


TIM Cyclically Adjusted FCF per Share Historical Data

The historical data trend for TIM's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

TIM Cyclically Adjusted FCF per Share Chart

TIM Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 0.80 0.93 1.19 1.62

TIM Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.34 1.38 1.44 1.62 1.82

Competitive Comparison of TIM's Cyclically Adjusted FCF per Share

For the Telecom Services subindustry, TIM's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


TIM's Cyclically Adjusted Price-to-FCF Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, TIM's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where TIM's Cyclically Adjusted Price-to-FCF falls into.


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TIM Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, TIM's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=0.478/168.1016*168.1016
=0.478

Current CPI (Mar. 2025) = 168.1016.

TIM Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 0.041 100.006 0.069
201509 0.091 101.392 0.151
201512 0.343 104.247 0.553
201603 -0.627 106.979 -0.985
201606 0.097 108.851 0.150
201609 0.322 109.986 0.492
201612 0.410 110.802 0.622
201703 -0.575 111.869 -0.864
201706 0.125 112.115 0.187
201709 0.343 112.777 0.511
201712 0.639 114.068 0.942
201803 0.019 114.868 0.028
201806 -0.058 117.038 -0.083
201809 0.348 117.881 0.496
201812 0.639 118.340 0.908
201903 -0.146 120.124 -0.204
201906 0.047 120.977 0.065
201909 0.487 121.292 0.675
201912 0.939 123.436 1.279
202003 -0.172 124.092 -0.233
202006 0.674 123.557 0.917
202009 0.000 125.095 0.000
202012 0.000 129.012 0.000
202103 0.259 131.660 0.331
202106 0.552 133.871 0.693
202109 0.775 137.913 0.945
202112 0.399 141.992 0.472
202203 -0.086 146.537 -0.099
202206 0.053 149.784 0.059
202209 0.877 147.800 0.997
202212 0.852 150.207 0.954
202303 0.284 153.352 0.311
202306 0.492 154.519 0.535
202309 1.042 155.464 1.127
202312 1.469 157.148 1.571
202403 0.120 159.372 0.127
202406 0.722 161.052 0.754
202409 1.026 162.342 1.062
202412 1.300 164.740 1.327
202503 0.478 168.102 0.478

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


TIM  (BSP:TIMS3) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

TIM's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=21.20/1.82
=11.65

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of TIM was 1065.00. The lowest was 8.53. And the median was 22.76.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


TIM Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of TIM's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


TIM Business Description

Traded in Other Exchanges
Address
Avenida Joao Cabral de Melo Neto, 850, Torre Norte, 12th Floor, Room 1212, Barra da Tijuca, Rio de Janeiro, RJ, BRA, 22775-057
TIM, which is 67%-owned by Telecom Italia, is the third largest wireless carrier in Brazil, with 62 million subscribers, equal to about 24% of the market. The firm also owns 49% of I-Systems, an infrastructure partnership that is expanding its network footprint across Brazil. I-Systems can provide broadband service to about 9 million locations, equal to 10%-15% of the country. TIM leases capacity on the venture's network to serve retail broadband customers under the UltraFibra brand. TIM also resells fiber network access from other providers, including Oi's former infrastructure business V.tal. In total, TIM claims it can offer fixed broadband service to about 16 million locations.

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