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Telefónica restates 2024 figures as new accounting policy reshapes 2025 balance sheet

Story Highlights
  • Telefónica reported €63.2 billion in assets for 2025, with rising non-current investments but lower cash and current holdings.
  • A new ICAC-driven accounting policy forced Telefónica to restate 2024 figures and adjust reserves to avoid unwarranted equity reductions.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Telefónica restates 2024 figures as new accounting policy reshapes 2025 balance sheet

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Telefonica ( (TELFY) ) has shared an announcement.

Telefónica has reported its individual balance sheet for the second half of 2025, showing total assets of €63.2 billion as of December 31, 2025, slightly down from €64.5 billion a year earlier. Non-current assets rose to €57.5 billion, driven mainly by higher investments in group and associated companies, while current assets declined, reflecting lower cash, equivalents, and current financial investments.

The company has also implemented a retroactive change in accounting policy following new guidance from Spain’s Accounting and Auditing Institute on intragroup demergers and similar transactions. This shift led to the restatement of 2024 comparative figures and an adjustment to opening reserves, aiming to prevent equity reductions where recoverable investment values exceed their carrying amounts and to improve comparability of Telefónica’s financial statements.

The most recent analyst rating on (TELFY) stock is a Sell with a $3.40 price target. To see the full list of analyst forecasts on Telefonica stock, see the TELFY Stock Forecast page.

More about Telefonica

Telefónica, S.A. is a Spain-based telecommunications group headquartered in Madrid. The company operates primarily in fixed and mobile telephony, broadband, and digital services, with a significant presence in Europe and Latin America and a focus on large-scale network infrastructure and connectivity solutions.

Average Trading Volume: 1,570,891

Technical Sentiment Signal: Hold

Current Market Cap: $24.28B

See more insights into TELFY stock on TipRanks’ Stock Analysis page.

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