Value Sense
TEF
Telefónica, S.A. (TEF)
Last Price$4.40.0%
Market Cap$24.9B
LTM Revenue
$44.7B
+1.6% YoY
LTM Net Income
($53.0M)
-94.5% YoY
LTM Net Debt
$37.0B
Net Debt to FCF - 7.0x
LTM Free Cash Flow (FCF)
$5,509.7M
12.3% margin

TEF Income Statement

TEF Income Statement Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Revenue
$44.0B 1.6% YoY
Gross profit
$21.9B (25.2%) YoY
49.8% margin
Cost of revenue
$22.1B 57.8% YoY
Operating income
$2,804.0M (36.1%) YoY
6.4% margin
Other: $2,326.0M
Net interest: $2,070.8M
Operating expenses
$19.1B (50.7%) YoY
Pre-tax income
$1,592.9M 0.0% YoY
(3.6%) margin
Net income
$964.6M 0.0% YoY
(2.2%) margin
R&D
$801.3M 13.0% YoY
1.8% of revenue
SG&A
$167.6M (97.2%) YoY
0.4% of revenue

TEF Income statement key metrics

Annual
Quarterly
LTM

Revenue

$44.0B +1.6% YoY

Operating Income

$2.8B -36.1% YoY

Net Income

($1.0B) N/A

TEF Balance Sheet

TEF Balance Sheet Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Assets
Liabilities
Total assets
$115.1B
Current assets ($22.9B, 19.9% of total)
Cash & ST investments
$8,463.6M (7.4%)
Accounts receivables
$7,889.6M (6.9%)
Other current assets
$6,556.3M (5.7%)
Non-current assets ($92.2B, 80.1% of total)
Intangible assets
$12.5B (10.9%)
Other non-current assets
$34.1B (29.6%)
Financial position
Net Debt
$42.1B
$8,463.6M$50.5B
Cash & Short-term Investments
Total Debt
Quick ratio
0.6x
Net Debt to Free Cash Flow
6.9x
Debt to Equity ratio
168.9%

TEF Balance Sheet Metrics

Annual
Quarterly
LTM

Assets

$115.1B -4.9% YoY

Liabilities

$85.2B +8.8% YoY

Shareholder's Equity

$29.9B -38.4% YoY

TEF Cash Flow Statement

TEF Cash Flow Statement Overview

Annual
Quarterly
LTM
Dec'14
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Cash Beginning of PeriodOperating Cash FlowInvesting Cash FlowFinancing Cash FlowForex Changes on CashCash End of Period$7,834.6M$12.6B($4,634.8M)($7,770.8M)($279.0M)$7,747.0M

TEF Cash Flow Statement key metrics

Annual
Quarterly
LTM

Operating Cash Flow (OCF)

$12.6B -1.4% YoY

Capital Expenditure (CAPEX)

($6,662.3M) -3.0% YoY

Free Cash Flow (FCF)

$5,934.6M +1.6% YoY

TEF Financials

USD
EUR
Millions
Billions
Annual
Quarterly
Trailing
Key stats
Income statement
Balance sheet
Cash Flow Statement
Valuation
Ratios
Per share
Per employee
Dividends & Yields
Dec'04Dec'05Dec'06Dec'07Dec'08Dec'09Dec'10Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23
Revenue
% growth
38,805.9
0.0%
47,135.6
21.5%
66,443.8
41.0%
77,369.7
16.4%
85,221.7
10.1%
81,412.4
(4.5%)
88,382.5
8.6%
90,401.2
2.3%
80,172.4
(11.3%)
75,797.4
(5.5%)
66,932.0
(11.7%)
52,431.6
(21.7%)
57,580.5
9.8%
58,730.4
2.0%
57,494.2
(2.1%)
54,204.6
(5.7%)
49,179.0
(9.3%)
46,455.3
(5.5%)
42,144.9
(9.3%)
43,960.0
4.3%
Cost of Goods Sold (COGS)9,398.122,855.520,886.024,547.026,205.149,889.823,362.225,412.123,238.122,636.520,171.114,335.216,866.116,963.716,545.815,263.314,857.814,498.313,637.322,079.5
Gross Profit
% margin
29,407.8
75.8%
24,280.1
51.5%
45,557.7
68.6%
52,822.7
68.3%
59,016.6
69.3%
31,522.6
38.7%
65,020.3
73.6%
64,989.1
71.9%
56,934.3
71.0%
53,160.9
70.1%
46,760.8
69.9%
38,096.4
72.7%
40,714.5
70.7%
41,766.7
71.1%
40,948.4
71.2%
38,941.3
71.8%
34,321.2
69.8%
31,957.0
68.8%
28,507.6
67.6%
21,880.5
49.8%
Operating Expenses20,411.913,629.833,723.930,717.064,818.512,490.243,160.250,980.142,143.440,607.938,185.935,482.634,948.234,250.333,270.034,866.643,386.129,833.937,740.019,076.5
Research & Development Expenses (R&D)0.00.00.00.00.00.00.00.00.00.00.01,171.51,002.5973.41,118.2969.41,094.9987.6691.3801.3
Selling, General & Administrative Expenses (SG&A)6,011.87,037.823,508.815,118.69,944.912,504.211,158.315,423.214,472.19,574.89,430.610,881.88,960.910,323.77,476.59,029.36,129.78,058.15,911.9167.6
Operating Income
% margin
8,995.9
23.2%
10,650.3
22.6%
11,833.9
17.8%
18,352.4
23.7%
20,403.1
23.9%
19,032.4
23.4%
21,860.1
24.7%
14,009.0
15.5%
13,883.2
17.3%
12,553.0
16.6%
9,256.5
13.8%
3,216.8
6.1%
6,051.7
10.5%
7,668.8
13.1%
7,700.8
13.4%
3,070.6
5.7%
6,860.4
13.9%
16,069.0
34.6%
4,274.2
10.1%
2,804.0
6.4%
Interest Income0.0986.21,435.6963.710,318.55,437.61,050.91,151.21,238.11,239.41,318.02,320.71,958.61,211.71,721.5942.6772.9726.21,900.0999.2
Interest Expense0.03,013.54,869.54,871.814,432.110,049.64,417.45,023.75,175.04,820.64,664.84,885.74,952.93,797.73,176.23,128.82,759.42,398.63,193.03,070.0
Pre-tax Income5,467.08,456.18,495.414,645.716,052.814,485.918,445.99,031.27,539.58,342.14,829.5345.33,590.85,191.26,578.03,042.62,949.014,305.53,119.3(1,592.9)
Income Tax
% effective tax rate
1,415.8
25.9%
2,449.7
29.0%
2,237.3
26.3%
2,145.3
14.6%
4,543.0
28.3%
3,416.8
23.6%
5,080.9
27.5%
419.0
4.6%
1,878.4
24.9%
1,741.5
20.9%
508.9
10.5%
14.4
4.2%
936.1
26.1%
1,376.6
26.5%
1,914.0
29.1%
1,179.9
38.8%
714.7
24.2%
1,629.8
11.4%
675.5
21.7%
(972.2)
61.0%
Net Income
% margin
3,577.5
9.2%
5,532.3
11.7%
7,828.3
11.8%
12,208.4
15.8%
11,509.8
13.5%
10,844.6
13.3%
13,491.1
15.3%
7,520.9
8.3%
5,050.3
6.3%
6,101.1
8.0%
3,987.2
6.0%
3,048.0
5.8%
2,621.4
4.6%
3,536.8
6.0%
3,933.1
6.8%
1,862.7
3.4%
1,806.1
3.7%
9,624.1
20.7%
2,119.2
5.0%
(964.6)
(2.2%)
EPS0.801.131.632.562.402.382.991.671.091.340.810.570.460.630.770.370.271.630.33(0.28)
Diluted EPS0.801.131.632.562.402.382.991.671.091.340.810.570.460.630.760.360.271.620.33(0.22)
EBITDA
% margin
14,942.0
38.5%
18,794.2
39.9%
24,171.7
36.4%
31,941.2
41.3%
34,317.5
40.3%
31,144.7
38.3%
34,025.5
38.5%
27,756.2
30.7%
26,570.7
33.1%
23,171.9
30.6%
20,196.4
30.2%
14,273.0
27.2%
18,127.5
31.5%
18,126.8
30.9%
17,570.7
30.6%
17,579.4
32.4%
15,776.9
32.1%
26,647.6
57.4%
14,264.3
33.8%
11,179.2
25.4%