Financials Telefónica, S.A.

Equities

TEF

ES0178430E18

Integrated Telecommunications Services

Market Closed - BME 11:37:02 2024-06-21 am EDT 5-day change 1st Jan Change
4.089 EUR +1.34% Intraday chart for Telefónica, S.A. -0.51% +15.70%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 31,924 17,845 22,113 19,336 20,038 22,731 - -
Enterprise Value (EV) 1 69,668 53,073 48,145 46,023 47,387 57,988 56,138 53,326
P/E ratio 36.6 x 13.5 x 2.79 x 10.9 x -17.7 x 13.4 x 12.8 x 12.8 x
Yield 6.42% 12.3% 9.09% 8.86% 8.49% 7.38% 7.42% 7.4%
Capitalization / Revenue 0.66 x 0.41 x 0.56 x 0.48 x 0.49 x 0.55 x 0.55 x 0.55 x
EV / Revenue 1.44 x 1.23 x 1.23 x 1.15 x 1.17 x 1.41 x 1.36 x 1.28 x
EV / EBITDA 4.61 x 3.93 x 2.19 x 3.58 x 4.16 x 4.38 x 4.2 x 3.98 x
EV / FCF 11.8 x 8.59 x 18.2 x 10.1 x 8.17 x 16.3 x 15.7 x 14.4 x
FCF Yield 8.49% 11.6% 5.5% 9.92% 12.2% 6.13% 6.35% 6.95%
Price to Book 1.86 x 1.57 x 0.98 x 0.77 x 0.92 x 1.02 x 0.97 x 0.97 x
Nbr of stocks (in thousands) 5,126,636 5,499,270 5,740,607 5,712,115 5,670,162 5,559,062 - -
Reference price 2 6.227 3.245 3.852 3.385 3.534 4.089 4.089 4.089
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 48,422 43,076 39,277 39,993 40,652 41,078 41,337 41,660
EBITDA 1 15,119 13,498 21,983 12,852 11,390 13,227 13,368 13,408
EBIT 1 4,537 4,139 13,586 4,056 2,593 4,588 4,736 4,748
Operating Margin 9.37% 9.61% 34.59% 10.14% 6.38% 11.17% 11.46% 11.4%
Earnings before Tax (EBT) 1 2,718 2,583 12,095 2,960 -1,473 2,782 2,969 3,027
Net income 1 1,142 1,582 8,137 2,011 -892 1,810 1,882 1,907
Net margin 2.36% 3.67% 20.72% 5.03% -2.19% 4.41% 4.55% 4.58%
EPS 2 0.1700 0.2400 1.380 0.3100 -0.2000 0.3061 0.3206 0.3188
Free Cash Flow 1 5,912 6,176 2,648 4,566 5,798 3,553 3,565 3,706
FCF margin 12.21% 14.34% 6.74% 11.42% 14.26% 8.65% 8.63% 8.9%
FCF Conversion (EBITDA) 39.1% 45.75% 12.05% 35.53% 50.9% 26.86% 26.67% 27.64%
FCF Conversion (Net income) 517.69% 390.39% 32.54% 227.05% - 196.26% 189.47% 194.31%
Dividend per Share 2 0.4000 0.4000 0.3500 0.3000 0.3000 0.3018 0.3032 0.3025
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 20,305 9,298 9,674 9,410 10,040 - 10,343 10,200 10,045 10,133 10,321 10,153 10,140 10,026 10,257 10,627
EBITDA 1 16,886 3,734 1,363 3,199 3,146 - 3,249 3,259 3,121 3,144 3,330 1,795 3,205 3,147 3,274 3,377
EBIT 1 12,747 1,579 -740 1,090 919 2,009 914 1,132 970 948 1,057 -382 1,042 1,168 1,178 1,263
Operating Margin 62.78% 16.98% -7.65% 11.58% 9.15% - 8.84% 11.1% 9.66% 9.36% 10.24% -3.76% 10.28% 11.65% 11.48% 11.88%
Earnings before Tax (EBT) 1 12,127 1,203 -1,235 870 584 1,454 557 949 - 598 347 -2,933 728 653.3 735.5 894.4
Net income 1 8,629 706 -1,198 706 320 1,026 460 525 - - 502 -2,154 532 475.7 525.9 649
Net margin 42.5% 7.59% -12.38% 7.5% 3.19% - 4.45% 5.15% - - 4.86% -21.22% 5.25% 4.74% 5.13% 6.11%
EPS 2 - 0.1200 -0.2200 0.1200 - - 0.0700 0.0800 0.0400 0.0700 0.0800 -0.3900 0.0800 0.0870 0.0914 0.1173
Dividend per Share 2 - - - - - - - - - - - 0.1500 - 0.1500 - 0.1500
Announcement Date 7/29/21 11/4/21 2/24/22 5/12/22 7/28/22 7/28/22 11/4/22 2/23/23 5/11/23 7/27/23 11/8/23 2/22/24 5/9/24 - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 37,744 35,228 26,032 26,687 27,349 35,257 33,407 30,595
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.496 x 2.61 x 1.184 x 2.076 x 2.401 x 2.666 x 2.499 x 2.282 x
Free Cash Flow 1 5,912 6,176 2,648 4,566 5,798 3,553 3,565 3,706
ROE (net income / shareholders' equity) 6.51% 11.2% 48.7% 8.5% -3.8% 7.89% 8.13% 8.42%
ROA (Net income/ Total Assets) 0.98% 1.41% 7.6% 1.84% -0.83% 1.69% 1.7% 1.79%
Assets 1 116,459 111,964 107,132 109,430 106,983 107,249 110,857 106,724
Book Value Per Share 2 3.350 2.070 3.940 4.370 3.860 4.020 4.210 4.230
Cash Flow per Share 2 2.930 2.410 1.790 2.050 2.040 1.640 1.590 1.540
Capex 1 8,784 7,020 6,164 5,508 5,851 5,421 5,284 5,157
Capex / Sales 18.14% 16.3% 15.69% 13.77% 14.39% 13.2% 12.78% 12.38%
Announcement Date 2/20/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
23
Last Close Price
4.089 EUR
Average target price
4.224 EUR
Spread / Average Target
+3.30%
Consensus
  1. Stock Market
  2. Equities
  3. TEF Stock
  4. Financials Telefónica, S.A.