{"id":4914,"date":"2026-07-15T19:02:16","date_gmt":"2026-07-15T19:02:16","guid":{"rendered":"https:\/\/anlix.io\/?p=4914"},"modified":"2026-07-28T19:21:26","modified_gmt":"2026-07-28T19:21:26","slug":"valuation-em-telecom-por-que-eficiencia-operacional-esta-valendo-mais-do-que-crescimento","status":"publish","type":"post","link":"https:\/\/anlix.io\/en\/valuation-em-telecom-por-que-eficiencia-operacional-esta-valendo-mais-do-que-crescimento\/","title":{"rendered":"Valuation in Telecom: Why Operational Efficiency Is Worth More Than Growth"},"content":{"rendered":"

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Written by Rogerio Antunes, CEO of Anlix.<\/em><\/p>\n

For a long time, growth in telecom was analyzed almost exclusively by scale metrics: customer base, network expansion, revenue growth. <\/span>But this model is beginning to show its limitations.<\/span><\/p>\n

What the market is now pricing in more rigorously is another variable: <\/span>Quality of operation behind growth. <\/b><\/p>\n

At the end of the day, valuation isn't just about how much a company grows: <\/span>it's about <\/span>How much of this growth is efficiently converted into predictable cash generation. <\/b>And that completely changes the logic of the analysis.\u00a0<\/span>Historically, telecom companies have been valued based on multiples of EBITDA.<\/a> <\/span>But the very concept of multiple carries an implicit question: <\/span>Is this EBITDA sustainable, scalable, and capital efficient?<\/b><\/p>\n

Recent market reports reinforce this shift in perspective:<\/span><\/p>\n