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Telefonica
(NYSE:TEF)
Telefonica (TEF) vs. SPDR S&P 500 ETF (SPY)
Telefonica Business Overview & Revenue Model
Telefonica Earnings Call Summary
Telefonica Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.27B | 41.31B | 40.65B | 39.99B | 39.28B | 43.08B |
| Gross Profit | 32.04B | 28.76B | 20.23B | 27.84B | 27.79B | 30.93B |
| EBITDA | 14.30B | 12.35B | 10.34B | 14.79B | 22.52B | 14.36B |
| Net Income | -2.12B | -49.00M | -892.00M | 2.01B | 8.14B | 1.58B |
Balance Sheet | ||||||
| Total Assets | 92.57B | 100.50B | 104.32B | 109.64B | 109.21B | 105.05B |
| Cash, Cash Equivalents and Short-Term Investments | 6.37B | 9.26B | 7.67B | 8.54B | 10.66B | 8.10B |
| Total Debt | 42.90B | 45.02B | 44.12B | 45.39B | 48.17B | 50.85B |
| Total Liabilities | 71.22B | 77.75B | 77.23B | 77.93B | 80.53B | 86.79B |
| Stockholders Equity | 17.61B | 19.35B | 21.85B | 25.09B | 22.21B | 11.23B |
Cash Flow | ||||||
| Free Cash Flow | 4.89B | 5.20B | 5.93B | 5.41B | 4.18B | 6.18B |
| Operating Cash Flow | 11.05B | 10.99B | 12.59B | 11.76B | 12.14B | 13.20B |
| Investing Cash Flow | -6.01B | -5.22B | -4.63B | -5.33B | 6.97B | -7.79B |
| Financing Cash Flow | -7.01B | -4.67B | -7.77B | -7.92B | -15.35B | -5.44B |
Telefonica Technical Analysis
Telefonica Risk Analysis
Telefonica Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $19.98B | 18.85 | 8.36% | 5.03% | -3.16% | 4.70% | |
75 Outperform | $20.26B | 15.39 | 15.54% | 6.14% | -5.21% | -7.45% | |
69 Neutral | $30.52B | 5.70 | 34.79% | ― | 0.42% | 13.46% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $62.38B | 16.39 | 17.70% | 2.69% | 1.14% | 83.48% | |
58 Neutral | $31.99B | -7.40 | -7.08% | 3.77% | 19.67% | -278.51% | |
45 Neutral | $22.50B | -10.17 | -0.70% | 7.47% | -5.49% | -75.51% |
Telefonica Corporate Events
On 12 January 2026, Telefónica Europe B.V., irrevocably guaranteed by Telefónica, S.A., launched cash tender offers for three outstanding euro-denominated undated deeply subordinated hybrid note series maturing around first call dates in 2026, 2027 and 2028, with an aggregate principal amount of EUR 2.25 billion. The offers, which run until 17:00 CET on 19 January 2026, are designed to proactively manage Telefónica’s hybrid capital layer and allow investors to switch into newly issued hybrid securities with 5.25-year and 8.25-year non-call periods, with pricing terms that include fixed purchase prices for the 2026 and 2027 notes and a market-based fixed-spread mechanism for the 2028 notes; repurchased notes may be cancelled, and if at least 75% of any series is bought back and cancelled, Telefónica may exercise its call right to redeem the remaining notes at par plus accrued interest, underlining an active liability-management strategy that could optimize its cost of capital and capital structure over time.
The most recent analyst rating on (TEF) stock is a Sell with a $3.40 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On 22 December 2025, Telefónica announced that, as part of its Transform & Grow Plan 2026–2030, it has reached agreements with major trade unions to extend collective bargaining agreements for Telefónica España and its corporate units through 31 December 2030 and to approve a new collective agreement for Movistar Plus+. In parallel, the company and unions agreed on exit plans covering around 5,500 employees across Telefónica España, Movistar Plus+ and various corporate units, with a total pre-tax provision of about €2.5 billion and expected average annual direct cost savings of roughly €600 million for the Group from 2028, while cash generation is projected to benefit as early as 2026 as departures begin in the first quarter. The measures, which include simplification of the operating model and a shift toward more flexible, digital ways of working, are designed to streamline operations, retain and attract talent, and strengthen Telefónica’s competitiveness in a highly contested telecoms landscape, with significant implications for its workforce structure and long-term cost base.
The most recent analyst rating on (TEF) stock is a Sell with a $3.40 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On December 17, 2025, Telefónica announced plans to delist its American Depositary Shares (ADSs) and several debt securities from the New York Stock Exchange (NYSE). The move aligns with its strategic plan to reduce administrative costs and simplify its operations, with alternative listings planned in Euronext Dublin and continued trading on Spanish Stock Exchanges. Additionally, Telefónica will delist from the Lima Stock Exchange and intends to deregister its U.S. securities with the SEC. This decision is not expected to impact its clients, partners, or commercial presence in the United States, while ensuring continued compliance with financial reporting standards.
The most recent analyst rating on (TEF) stock is a Sell with a $3.40 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On November 28, 2025, Telefónica Audiovisual Digital, S.A.U. was provisionally awarded exclusive broadcasting rights for five matches per matchday of LaLiga’s Primera División for pay television in Spain. This agreement, covering the 2027/2028 to 2031/2032 seasons, is valued at 2,635.85 million euros. Telefónica aims to ensure Movistar Plus+ customers have access to all LaLiga matches, complementing its existing European competition rights. The award is contingent on finalizing an agreement with LaLiga within 30 working days.
The most recent analyst rating on (TEF) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On November 26, 2025, Telefónica’s Board of Directors announced changes to the composition of its committees. The Board appointed Mr. César Mascaraque Alonso as a member of both the Executive Commission and the Nominating, Compensation and Corporate Governance Committee, and Mr. Alejandro Reynal Ample as a member of the Audit and Control Committee. These appointments reflect Telefónica’s commitment to strengthening its governance structure, potentially impacting its strategic oversight and operational efficiency.
The most recent analyst rating on (TEF) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On November 20, 2025, Telefónica announced it has been provisionally awarded exclusive media rights for major UEFA football competitions, including the Champions League and Europa League, for the seasons from 2027 to 2031. This acquisition, valued at 1,464 million euros, will enable Telefónica to enhance its content offerings for residential customers by securing premium European football content, pending final contract negotiations with UEFA.
The most recent analyst rating on (TEF) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On November 4, 2025, Telefónica held its Capital Markets Day in Madrid, outlining strategic guidelines for growth up to 2030. The company anticipates revenue growth with a CAGR of 1.5-2.5% from 2025 to 2028, accelerating to 2.5-3.5% from 2028 to 2030. Adjusted EBITDA and OpCFaL are expected to follow similar growth patterns. Telefónica plans to reduce its CapEx/Sales ratio to around 12% by 2026-2028 and further to 11% by 2030, while targeting a leverage reduction to 2.5x Net debt/EBITDAaL by 2028. The company also announced a 2025 dividend of 0.30 euro per share, with future dividends based on a 40-60% payout of the FCF base.
The most recent analyst rating on (TEF) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
Telefónica reported its financial results for the third quarter of 2025, highlighting consistent growth and strong operational performance across its business units. The company achieved a year-on-year revenue growth of 0.4%, with notable increases in Spain and Brazil. Telefónica’s focus on customer satisfaction and network expansion, particularly in fiber and 5G, contributed to its positive performance. The company also continued its strategic portfolio transformation in Latin America, selling several regional operations. Telefónica confirmed its guidance for 2025, expecting continued growth in revenue, EBITDA, and EBITDAaL-CapEx, while maintaining a CapEx to sales ratio below 12.5%.
The most recent analyst rating on (TEF) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
Telefónica, S.A. reported its financial results for the first nine months of 2025, highlighting a strategic focus on customer-centric operations and network efficiency. The company achieved notable milestones such as the expansion of its fiber and 5G networks, with 82.6 million fiber connections and 78% 5G coverage in core markets. Despite a slight decline in reported revenue, the company saw organic growth in service and B2B revenues, reflecting its successful portfolio transformation and strong customer engagement.
The most recent analyst rating on (TEF) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On October 30, 2025, Telefónica announced the completion of the sale of its Ecuadorian subsidiary, Otecel S.A., to Millicom Spain, S.L. for USD 380 million. This transaction, part of Telefónica’s strategy to reduce its exposure in Hispanoamerica, resulted in a reduction of the company’s net financial debt by approximately EUR 273 million, aligning with its asset portfolio management policy.
The most recent analyst rating on (TEF) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.
On October 22, 2025, Telefónica announced changes in its Board of Directors and its committees. Mr. Francisco Javier de Paz Mancho resigned from his director position to take on executive responsibilities within the Telefónica Group. Mr. César Mascaraque Alonso was appointed as an Independent Director, and Ms. Ana María Sala Andrés was appointed as Chairwoman of the Sustainability and Regulation Committee. These changes reflect Telefónica’s strategic focus on strengthening its governance and leadership structure.
The most recent analyst rating on (TEF) stock is a Hold with a $5.50 price target. To see the full list of analyst forecasts on Telefonica stock, see the TEF Stock Forecast page.