TIMB vs. SBS

Last updated Jun 3, 2026

TIMB (TIM S.A.) and SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) are both stocks. TIMB operates in Telecom Services (Communication Services), while SBS operates in Utilities - Regulated Water (Utilities). Over the past 5 years, TIMB returned 20.64%/yr vs 33.33%/yr for SBS. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

TIMB vs. SBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIM S.A. (TIMB) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIMB achieves a 14.22% return, which is significantly lower than SBS's 16.76% return.

TIMB

• 1D: 1.15%
• 1M: -13.88%
• YTD: 14.22%
• 6M: 5.27%
• 1Y: 40.28%
• 3Y*: 24.43%
• 5Y*: 20.64%
• 10Y*: —

SBS

• 1D: 1.28%
• 1M: -16.94%
• YTD: 16.76%
• 6M: 8.45%
• 1Y: 44.33%
• 3Y*: 41.93%
• 5Y*: 33.33%
• 10Y*: 17.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TIMB vs. SBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TIMB TIM S.A.	14.22%	86.96%	-33.24%	68.57%	4.05%	-13.46%	25.06%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	16.76%	80.60%	-4.21%	46.89%	48.42%	-13.79%	7.51%

Correlation

The correlation between TIMB and SBS is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020	0.59

The correlation between TIMB and SBS has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Fundamentals

Market Cap TIMB : $10.55B SBS : $19.49B
EPS TIMB : $9.00 SBS : $2.48
PE Ratio TIMB : 2.45 SBS : 2.23
PEG Ratio TIMB : 0.15 SBS : 0.04
PS Ratio TIMB : 0.39 SBS : 0.49
PB Ratio TIMB : 0.43 SBS : 0.45
Total Revenue (TTM) TIMB : $27.04B SBS : $38.70B
Gross Profit (TTM) TIMB : $14.61B SBS : $13.96B
EBITDA (TTM) TIMB : $13.92B SBS : $14.87B

Return for Risk

TIMB vs. SBS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TIMB

TIMB Risk / Return Rank: 73
TIMB Sharpe Ratio Rank: 77
TIMB Sortino Ratio Rank: 71
TIMB Omega Ratio Rank: 69
TIMB Calmar Ratio Rank: 73
TIMB Martin Ratio Rank: 76

SBS

SBS Risk / Return Rank: 74
SBS Sharpe Ratio Rank: 78
SBS Sortino Ratio Rank: 74
SBS Omega Ratio Rank: 70
SBS Calmar Ratio Rank: 72
SBS Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TIMB vs. SBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIM S.A. (TIMB) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TIMB	SBS	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.32	-0.04
Sortino ratio Return per unit of downside risk	1.81	1.97	-0.16
Omega ratio Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio Return relative to maximum drawdown	1.92	1.85	+0.07
Martin ratio Return relative to average drawdown	5.44	5.93	-0.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIMB vs. SBS - Sharpe Ratio Comparison

The current TIMB Sharpe Ratio is 1.28, which is comparable to the SBS Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of TIMB and SBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TIMB	SBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.32	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.91	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.35	+0.25

Drawdowns

TIMB vs. SBS - Drawdown Comparison

The maximum TIMB drawdown since its inception was -37.08%, smaller than the maximum SBS drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for TIMB and SBS.

Drawdown Indicators

	TIMB	SBS	Difference
Max Drawdown Largest peak-to-trough decline	-37.08%	-76.49%	+39.41%
Max Drawdown (1Y) Largest decline over 1 year	-21.92%	-22.90%	+0.98%
Max Drawdown (3Y) Largest decline over 3 years	-37.08%	-23.79%	-13.29%
Max Drawdown (5Y) Largest decline over 5 years	-37.08%	-30.35%	-6.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.91%	—
Current Drawdown Current decline from peak	-21.03%	-21.91%	+0.88%
Average Drawdown Average peak-to-trough decline	-12.09%	-25.71%	+13.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.74%	7.13%	+0.61%

Volatility

TIMB vs. SBS - Volatility Comparison

TIM S.A. (TIMB) has a higher volatility of 12.48% compared to Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) at 9.36%. This indicates that TIMB's price experiences larger fluctuations and is considered to be riskier than SBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIMB	SBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.48%	9.36%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	25.97%	25.50%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	31.75%	33.77%	-2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.63%	36.88%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.15%	43.57%	-11.42%

Dividends

TIMB vs. SBS - Dividend Comparison

TIMB's dividend yield for the trailing twelve months is around 8.25%, more than SBS's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.30%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%
TIMB TIM S.A.	8.25%	11.67%	6.03%	4.98%	4.05%	3.43%	3.05%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

TIMB vs. SBS - Profitability Comparison

The chart below illustrates the profitability comparison between TIM S.A. and Companhia de Saneamento Básico do Estado de São Paulo - SABESP over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TIMB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, TIM S.A. reported a gross profit of 3.56B and revenue of 6.81B. Therefore, the gross margin over that period was 52.4%.

SBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a gross profit of 3.79B and revenue of 9.78B. Therefore, the gross margin over that period was 38.8%.

TIMB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, TIM S.A. reported an operating income of 1.57B and revenue of 6.81B, resulting in an operating margin of 23.1%.

SBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported an operating income of 3.33B and revenue of 9.78B, resulting in an operating margin of 34.1%.

TIMB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, TIM S.A. reported a net income of 817.09M and revenue of 6.81B, resulting in a net margin of 12.0%.

SBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a net income of 1.72B and revenue of 9.78B, resulting in a net margin of 17.6%.

Frequently Asked Questions

Can I hold both TIMB and SBS in my portfolio?

TIMB and SBS have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIMB or SBS?

TIMB has higher volatility (12.48%) compared to SBS (9.36%). In terms of maximum drawdown, TIMB dropped -37.08% vs SBS's -76.49%.

Which has better risk-adjusted returns?

SBS currently has the higher Sharpe Ratio (1.32 vs 1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.