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Telefonica SA

TELFY Communication Services Telecom Services

Telefonica SA’s revenue for fiscal 2025 (year ended December 2025) was $39.7 billion, down 11.1% from fiscal 2024.

Revenue
−5.45%
EPS
+100.0%
Free cash flow
−124.8%
Total debt
−6.89%

Quarter to June 2026, against a year earlier

3.80 0.08 −2.06%
Market cap
$21.5B
P/E
0.0×
Fwd P/E
10.8×
Dividend yield
9.15%
F-score
4/9
Altman Z
0.81
Beneish M
−3.16
Dividend safety
25/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 21,480.00
Revenue ttm 39,314.47
Net income ttm 0.00
Free cash flow ttm 1,786.48
Net debt Q 30,772.02
Valuation
P/E 0.00
Forward P/E 10.80
Price / sales 0.54
Forward P/S Powerpack
Price / FCF 11.97
Price / book 1.00
Financial health
Current ratio Q 0.92 (below 1: weak)
Debt / equity Q 1.84
Interest coverage Q 1.81
Growth
Revenue growth Q −5.45% (below 0%: shrinking)
Operating income growth Q −11.47% (below 0%: shrinking)
EPS, this year +626.93% (at or above 15%: strong)
EPS, next year A +21.19% (at or above 15%: strong)
Revenue, next year A −6.46% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −0.74% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 1.4×; over the ten years it ranged from 0.6× in 2019 to 2.2× in 2016.
P/S against its own 10 years 24.57%
10-year low 10-year high
P/B against its own 10 years 29.67%
10-year low 10-year high
EV/Sales against its own 10 years 34.32%
10-year low 10-year high
EV/FCF against its own 10 years 89.97%
10-year low 10-year high

Dividends

Yield
9.15%
Annual rate
0.35
Payout ratio
—
Growth, 2018–26
−11.4%/yr
  1. 0.46 ’18
  2. 0.45 ’19 −3
  3. 0.46 ’20 +2
  4. 0.40 ’21 −12
  5. 0.32 ’22 −22
  6. 0.33 ’23 +4
  7. 0.32 ’24 −4
  8. 0.35 ’25 +10
  9. 0.17 ’26 −49
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 8,906 10,672 8,411 8,494
Receivables 12,257 12,352 11,913 12,525
Inventory 1,005 1,032 975 1,037
Other — — — —
22,464 24,205 24,896 23,061
2023 2024 2025 Q'26
Payables 15,106 15,805 14,643 13,663
ST’ Debt 4,006 6,049 4,773 4,910
Other 1,727 1,802 2,149 2,502
25,325 27,847 28,101 25,053

Compound Annual Growth %

10y 5y 3y
Sales (2.73%) (4.19%) (1.94%)
Cash Flow (3.13%) (6.11%) (3.90%)
Earnings 0.00% 0.00% 0.00%
Book Value (4.09%) (0.69%) (15.51%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.10 Actual 0.10

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.14 0.07 Miss by 0.07
Mar 2026 0.00 0.08 Beat by 0.08
Jun 2026 0.10 0.10 Met by 0.00
Sep 2026 0.10 — Reports 3 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.11) 0.00 — — —
’25 (0.25) (0.02) 0.06 (0.68) (0.92)
’24 0.09 0.08 (0.01) (0.20) (0.06)
’23 0.07 0.08 0.09 (0.42) (0.22)
’22 0.14 0.05 0.07 0.08 0.33
’21 0.18 1.65 0.14 (0.25) 1.63
’20 0.07 0.08 (0.05) 0.19 0.27
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 9,848 9,610 — — —
’25 9,714 10,163 10,471 9,386 39,735
’24 11,009 11,345 11,021 11,332 44,707
’23 10,782 11,049 11,233 10,933 43,998
’22 10,560 10,685 10,417 10,475 42,137
’21 12,466 11,863 10,964 10,993 46,469
’20 12,952 11,726 12,228 12,301 49,206
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,723 2,457 — — —
’25 1,935 3,111 2,503 3,451 10,999
’24 2,402 2,552 2,875 4,067 11,897
’23 2,470 3,297 3,199 3,641 12,608
’22 2,248 2,795 2,609 4,741 12,394
’21 3,082 3,078 2,736 3,095 12,148
’20 2,492 3,330 4,596 4,655 15,074
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,723 (171) — — —
’25 1,935 688 856 1,800 5,280
’24 740 971 1,638 2,573 5,922
’23 965 1,485 1,607 2,218 6,275
’22 1,009 1,233 1,362 2,986 6,590
’21 448 1,434 948 3,095 4,855
’20 563 1,414 4,596 (3,364) 7,055
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 57,583 58,785 57,506 54,233 49,206 46,469 42,137 43,998 44,707 39,735 39,314 (4.0%) 37,169 37,934 38,468 (1.1%)
Gross margin, % 70.71 71.12 71.22 71.84 69.79 68.79 67.64 67.29 67.62 65.40 66.84 (5.3) pt
EBT 3,591 5,196 6,579 3,044 2,951 14,310 3,119 (1,594) 603 (1,587) (1,755) n/m
EBT margin, % 6.24 8.84 11.44 5.61 6.00 30.79 7.40 (3.62) 1.35 (3.99) (4.46) (10.2) pt
Net income — — — — — — — — — — 0 —
Per share, $
Per share, $ Revenue 11.38 11.50 11.22 10.59 8.99 8.11 7.34 7.76 7.93 7.05 6.98 (5.2%)
Earnings 0.46 0.63 0.67 0.19 0.27 1.63 0.33 (0.22) (0.06) (0.92) (0.73) n/m
Cash flow 2.92 3.05 3.09 3.29 2.76 2.12 2.16 2.22 2.11 1.95 1.80 (4.4%)
Capex (2.01) (1.99) (1.98) (1.68) (1.47) (1.27) (1.01) (1.12) (1.06) (1.01) (1.48) (7.3%)
Free cash flow 0.91 1.06 1.11 1.61 1.29 0.85 1.15 1.11 1.05 0.94 0.32 +0.4%
Book value 6.21 5.89 6.22 5.57 3.81 5.93 5.82 5.17 4.37 3.57 3.78 (5.9%)
Shares, m 5,061 5,110 5,127 5,119 5,471 5,727 5,740 5,668 5,636 5,637 5,632 +1.2%
Valuation, ×
Valuation, × P/E 66.57 14.26 10.90 25.02 13.93 2.46 10.68 0.00 0.00 0.00 0.00 14.4
P/S 0.86 0.89 0.75 0.66 0.45 0.52 0.49 0.51 0.51 0.57 0.54 0.6
P/B 1.50 1.80 1.36 1.25 1.06 1.44 0.62 0.77 0.92 1.13 1.00 1.2
EV/Sales 2.01 1.97 1.72 1.55 1.43 1.67 1.23 1.22 1.21 1.34 1.33 1.5
EV/FCF 6.61 10.75 17.26 10.19 59.02 (36.89) 7.86 8.55 9.11 14.07 29.20 10.7
Cash, $m
Cash, $m Operating cash flow 14,760 15,594 15,853 16,825 15,074 12,148 12,394 12,608 11,897 10,999 10,133 (3.2%)
Capex (10,166) (10,164) (10,139) (8,578) (8,019) (7,293) (5,803) (6,333) (5,974) (5,719) (8,347) (6.2%)
Free cash flow 4,594 5,430 5,714 8,247 7,055 4,855 6,590 6,275 5,922 5,280 1,786 +1.6%
Balance, $m
Balance, $m Working capital (17,127) (10,325) (7,451) (6,567) 6,326 (670) (538) (2,861) (3,641) (3,204) (1,992) (17.0%)
Net debt 59,392 54,707 55,272 48,383 48,343 35,351 30,965 31,205 31,294 30,440 30,772 (7.2%)
Shareholders’ equity 31,411 30,086 31,863 28,504 20,858 33,936 33,408 29,326 24,617 20,148 21,295 (4.8%)
Returns, %
Returns, % ROA 1.71 2.42 2.61 0.96 1.43 7.49 1.55 (1.09) (0.31) (4.87) (3.95) (6.6) pt
ROIC 4.17 5.66 5.52 4.13 4.27 14.50 4.15 2.90 2.90 1.84 1.78 (2.3) pt
ROE 7.54 10.49 11.17 4.24 7.32 34.05 5.64 (3.95) (1.28) (23.17) (17.31) (30.7) pt
People
People Employees 132,120 122,718 120,138 113,819 112,797 104,150 103,651 104,142 100,870 82,655 — (5.1%)
Revenue/emp, $m 0.44 0.48 0.48 0.48 0.44 0.45 0.41 0.42 0.44 0.48 — +1.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Telefonica SA vs peers in Telecom Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CHT Chunghwa Telecom Co., Ltd. $37.9B 29.6× — +5.50% (above 0%: growing) +2.33% (above 0%: growing) +39.64% (above 0%: growing) 37.54% 21.61% Compare
VOD Vodafone Group PLC $37.0B 32.5× 13.4× −11.38% (below 0%: shrinking) −130.12% (below 0%: shrinking) −16.70% (below 0%: shrinking) 30.36% 0.00% Compare
ORANY Orange $29.8B 7.1× — −5.73% (below 0%: shrinking) +128.97% (above 0%: growing) +104.16% (above 0%: growing) 16.49% 0.00% Compare
ECHO EchoStar Corporation $26.2B 2.7× 3.9× −68.80% (below 0%: shrinking) n/m +133.30% (above 0%: growing) 42.28% 13.10% Compare
CHTR Charter Communications, Inc. $22.2B 3.2× 2.8× −1.74% (below 0%: shrinking) +14.35% (above 0%: growing) +45.18% (above 0%: growing) 39.27% 22.65% Compare
TELFY Telefonica SA $21.5B — (loss-making) 10.8× −5.45% (below 0%: shrinking) n/m −124.79% (below 0%: shrinking) 28.59% 10.79%
VIV Telefonica Brasil S.A. $18.1B 29.4× 13.0× +20.64% (above 0%: growing) +33.01% (above 0%: growing) +3.07% (above 0%: growing) 45.54% 16.48% Compare
TIGO Millicom International Cellular SA $13.3B 19.9× 23.4× +59.40% (above 0%: growing) −83.95% (below 0%: shrinking) +66.11% (above 0%: growing) 75.26% 21.20% Compare
SKM SK Telecom Co., Ltd. $11.2B 23.6× — +0.47% (above 0%: growing) +406.25% (above 0%: growing) −29.63% (below 0%: shrinking) 89.10% 12.99% Compare
Median of peers $24.2B 21.7× 13.0× −0.63% +14.35% +42.41% 40.78% 14.79%

All 55 Telecom Services stocks →

Telefonica SA (TELFY) Latest News

31 Oct

Impact 3 · · The Telegraph

27 Oct

Impact 3 · · Simply Wall St.

26 Oct

Impact 4 · · Moby
Impact 4 · · Investing.com

23 Oct

Impact 4 · · Business Wire

20 Oct

Impact 4 · · Business Wire
Impact 3 · · Stocktwits
Impact 3 · · Investing.com
Impact 3 · · MT Newswires

19 Oct

Impact 4 · · TIKR
Impact 3 · · InvestorsHub

28 Sep

Impact 3 · · Zacks

6 Aug

Impact 3 ·

29 Jul

Impact 4 ·
Impact 3 · · MarketBeat

1 Jul

Impact 4 ·
Impact 3 ·
Impact 3 · · The Telegraph

27 Jun

Impact 3 ·

17 Jun

Impact 3 ·
Impact 3 ·

15 May

Impact 4 · · Simply Wall St.
Impact 3 · · MarketBeat transcript

14 May

Impact 4 · · Moby
Impact 4 · · GuruFocus.com

12 May

Impact 3 · · Reuters

14 Apr

Impact 4 · · Business Wire

7 Apr

Impact 4 · · Business Wire

28 Mar

Impact 3 · · MarketBeat

25 Mar

Impact 4 · · Simply Wall St.

TELFY metrics, ten years each

stockrow.com/TELFY · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com