TIM S.A. Sponsored ADR
TIMB Communication Services Telecom Services
TIM S.A. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $4.8 billion, up 1.07% from fiscal 2024. In the quarter to June 2026, revenue grew 18.3%, EPS grew 14.3%, free cash flow grew 17.8% and total debt rose 13.6%, each against the same quarter a year earlier.
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TIM S.A. Sponsored ADR (TIMB) Altman Z-score
TIM S.A. Sponsored ADR's Altman Z-score for fiscal 2025 is 2.00, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.00 | 0.10 |
| FY2023 | 1.90 | 0.55 |
| FY2022 | 1.36 | (0.42) |
| FY2021 | 1.78 | (0.67) |
| FY2019 | 2.45 | 0.22 |
| FY2017 | 2.23 | 0.63 |
| FY2016 | 1.60 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.03) | — | −0.04 | |
| Retained earnings / total assets | 0.18 | — | 0.25 | |
| EBIT / total assets | 0.11 | — | 0.37 | |
| Market value of equity / total liabilities | 1.59 | — | 0.95 | |
| Sales / total assets | 0.47 | — | 0.47 | |
| Altman Z-score | Grey zone | 2.00 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.90 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TLK PT Telekomunikasi Indonesia, Tbk compare | 3.0× |
| SKM SK Telecom Co., Ltd. compare | 2.2× |
| TIMB TIM S.A. Sponsored ADR | 2.0× |
| KT KT Corporation compare | 1.7× |
| GSAT Globalstar, Inc. compare | 1.3× |
| TIGO Millicom International Cellular SA compare | 1.2× |
| IRDM Iridium Communications Inc compare | 1.0× |
| LBTYB Liberty Global Ltd compare | 0.7× |
| LUMN Lumen Technologies, Inc. compare | −0.3× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets