Saturday 17 October 2026
Export TELFY’s income statement to Excel — free account
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. In the quarter to June 2026, revenue fell 5.45%, EPS grew 100.0%, free cash flow fell 124.8% and total debt fell 6.89%, each against the same quarter a year earlier.
3.79
0.12
+3.27%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 8.15 | 9.15 | 7.70 | 6.50 | 3.22 | 4.05 | 3.10 | 3.60 | 3.82 | 3.89 |
Analyst estimates 2026–2028 Powerpack |
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| High | 11.43 | 11.64 | 10.57 | 9.01 | 7.11 | 5.17 | 5.39 | 4.53 | 4.93 | 5.72 | |||||
| People | |||||||||||||||
| People | Employees | 132,120 | 122,718 | 120,138 | 113,819 | 112,797 | 104,150 | 103,651 | 104,142 | 100,870 | 82,655 | ||||
| Revenue/emp, $m | 0.44 | 0.48 | 0.48 | 0.48 | 0.44 | 0.45 | 0.41 | 0.42 | 0.44 | 0.48 | |||||
| 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 | ||||
| Gross margin, % | 70.71 | 71.12 | 71.22 | 71.84 | 69.79 | 68.79 | 67.64 | 67.29 | 67.62 | 65.40 | |||||
| EBT | 3,591 | 5,196 | 6,579 | 3,044 | 2,951 | 14,310 | 3,119 | (1,594) | 603 | (1,587) | |||||
| EBT margin, % | 6.24 | 8.84 | 11.44 | 5.61 | 6.00 | 30.79 | 7.40 | (3.62) | 1.35 | (3.99) | |||||
| Net income | — | — | — | — | — | — | — | — | — | — | |||||
| Depreciation | — | — | — | — | — | — | — | — | — | — | |||||
| 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 | ||||
| Earnings | 0.46 | 0.63 | 0.67 | 0.19 | 0.27 | 1.63 | 0.33 | (0.22) | (0.06) | (0.92) | |||||
| Cash flow | 2.92 | 3.05 | 3.09 | 3.29 | 2.76 | 2.12 | 2.16 | 2.22 | 2.11 | 1.95 | |||||
| Capex | (2.01) | (1.99) | (1.98) | (1.68) | (1.47) | (1.27) | (1.01) | (1.12) | (1.06) | (1.01) | |||||
| Free cash flow | 0.91 | 1.06 | 1.11 | 1.61 | 1.29 | 0.85 | 1.15 | 1.11 | 1.05 | 0.94 | |||||
| Book value | 6.21 | 5.89 | 6.22 | 5.57 | 3.81 | 5.93 | 5.82 | 5.17 | 4.37 | 3.57 | |||||
| Shares, m | 5,061 | 5,110 | 5,127 | 5,119 | 5,471 | 5,727 | 5,740 | 5,668 | 5,636 | 5,637 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 66.57 | 14.26 | 10.90 | 25.02 | 13.93 | 2.46 | 10.68 | 0.00 | 0.00 | 0.00 | ||||
| P/S | 0.86 | 0.89 | 0.75 | 0.66 | 0.45 | 0.52 | 0.49 | 0.51 | 0.51 | 0.57 | |||||
| P/B | 1.50 | 1.80 | 1.36 | 1.25 | 1.06 | 1.44 | 0.62 | 0.77 | 0.92 | 1.13 | |||||
| EV/Sales | 2.01 | 1.97 | 1.72 | 1.55 | 1.43 | 1.67 | 1.23 | 1.22 | 1.21 | 1.34 | |||||
| EV/FCF | 6.61 | 10.75 | 17.26 | 10.19 | 59.02 | (36.89) | 7.86 | 8.55 | 9.11 | 14.07 | |||||
| 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 | ||||
| Capex | (10,166) | (10,164) | (10,139) | (8,578) | (8,019) | (7,293) | (5,803) | (6,333) | (5,974) | (5,719) | |||||
| Free cash flow | 4,594 | 5,430 | 5,714 | 8,247 | 7,055 | 4,855 | 6,590 | 6,275 | 5,922 | 5,280 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | (17,127) | (10,325) | (7,451) | (6,567) | 6,326 | (670) | (538) | (2,861) | (3,641) | (3,204) | ||||
| Total debt | 66,795 | 63,010 | 64,603 | 58,648 | 57,595 | 50,039 | 41,174 | 40,111 | 41,966 | 38,851 | |||||
| Net debt | 59,392 | 54,707 | 55,272 | 48,383 | 48,343 | 35,351 | 30,965 | 31,205 | 31,294 | 30,440 | |||||
| Shareholders’ equity | 31,411 | 30,086 | 31,863 | 28,504 | 20,858 | 33,936 | 33,408 | 29,326 | 24,617 | 20,148 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 1.71 | 2.42 | 2.61 | 0.96 | 1.43 | 7.49 | 1.55 | (1.09) | (0.31) | (4.87) | ||||
| ROIC | 4.17 | 5.66 | 5.52 | 4.13 | 4.27 | 14.50 | 4.15 | 2.90 | 2.90 | 1.84 | |||||
| ROE | 7.54 | 10.49 | 11.17 | 4.24 | 7.32 | 34.05 | 5.64 | (3.95) | (1.28) | (23.17) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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. | $37.0B | 28.9× | — | +5.50% (above 0%: growing) | +2.33% (above 0%: growing) | +39.64% (above 0%: growing) | 37.54% | 21.61% | Compare |
| VOD Vodafone Group PLC | $36.7B | 32.7× | 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 | 6.8× | — | −5.73% (below 0%: shrinking) | +128.97% (above 0%: growing) | +104.16% (above 0%: growing) | 16.49% | 0.00% | Compare |
| ECHO EchoStar Corporation | $25.3B | — (loss-making) | 68.0× | −3.99% (below 0%: shrinking) | n/m | +64.20% (above 0%: growing) | 34.37% | 14.34% | Compare |
| TELFY Telefonica SA | $21.5B | — (loss-making) | 10.6× | −5.45% (below 0%: shrinking) | n/m | −124.79% (below 0%: shrinking) | 28.59% | 10.79% | |
| VIV Telefonica Brasil S.A. | $19.6B | 25.1× | 13.4× | +20.64% (above 0%: growing) | +33.01% (above 0%: growing) | +3.07% (above 0%: growing) | 45.54% | 16.48% | Compare |
| CHTR Charter Communications, Inc. | $19.4B | 2.8× | 3.2× | −1.74% (below 0%: shrinking) | +14.35% (above 0%: growing) | +45.18% (above 0%: growing) | 39.27% | 22.65% | Compare |
| TIGO Millicom International Cellular SA | $13.8B | 20.8× | 23.8× | +59.40% (above 0%: growing) | −83.95% (below 0%: shrinking) | +66.11% (above 0%: growing) | 75.26% | 21.20% | Compare |
| TLK PT Telekomunikasi Indonesia, Tbk | $12.6B | 8.1× | — | −8.61% (below 0%: shrinking) | +5,809.09% (above 0%: growing) | +3.00% (above 0%: growing) | 100.00% | 24.01% | Compare |
| Median of peers | $22.4B | 20.8× | 13.4× | −2.86% | +14.35% | +42.41% | 38.41% | 18.84% |
Telefonica SA (TELFY) key facts
- Concern: Telefonica SA’s revenue for fiscal 2025 (year ended December 2025) was $39.7 billion, down 11.1% from fiscal 2024.
- Telefonica SA (TELFY) is a Telecom Services company in the Communication Services sector, traded in the US as an ADR.
- As of October 16, 2026, TELFY traded at $3.79, a market capitalization of $21.5 billion.
- Telefonica SA pays an annual dividend of $0.35 per share, a yield of 9.18%.
- Return on equity was −23.2% and debt-to-equity 1.84.
- Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.81 (distress zone) for fiscal 2025.