AllAnalyst Report
logoMorningstarMay 12, 2022

Telefónica, S.A.: Telefonica Beats Expectations but Management Cautious Given Macroeconomic Outlook; Maintaining FVE

Symbols
TEF
Sector(s)
Communication Services
Rating
Current Price
$3.72
Fair Value
Economic Moat
Stewardship
Summary

Telefonica operates mobile and fixed networks in Spain (where it is the incumbent telephone operator), U.K., Germany, Brazil, and other Latin American countries. The company derives more than 30% of its revenue from Spain, close to 20% from Germany and 20% from Brazil. Its U.K. operations are held through a joint venture with Virgin Media. In Latin America Telefonica operates in Mexico, Argentina, Chile, and Peru, among others.

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