Telefónica, S.A. (TEF) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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TEF Revenue Growth
Revenue Breakdown
TEF's revenue distribution by segment and geography
By Geography
TEF Revenue Analysis (2013–2024)
As of May 6, 2026, Telefónica, S.A. (TEF) generated trailing twelve-month (TTM) revenue of $38.27 billion, reflecting moderate decline in growth of -6.6% year-over-year. The most recent quarter (Q3 2025) recorded $9.36 billion in revenue, up 6.5% sequentially.
Looking at the longer-term picture, TEF's 5-year compound annual growth rate (CAGR) stands at -3.1%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $57.06 billion in 2013.
When compared to Communication Services sector peers including T (+2.9% YoY), VZ (+2.5% YoY), and VOD (-18.8% YoY), TEF has underperformed the peer group in terms of revenue growth. Compare TEF vs T →
TEF Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TEFCurrent | $38.3B | -6.6% | -3.1% | 5.8% | |
 T | $125.6B | +2.9% | -6.1% | 19.2% | |
 VZ | $138.2B | +2.5% | +1.5% | 21.2% | |
 VOD | $37.4B | -18.8% | -3.6% | -1.1% | |
 TU | $20.5B | +1.8% | +6.0% | 11.5% | |
 BCE | $24.4B | +0.2% | +1.3% | 22.2% |
TEF Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $41.31B | +1.6% | $28.76B | 69.6% | $2.40B | 5.8% |
| 2023 | $40.65B | +1.6% | $20.23B | 49.8% | $2.59B | 6.4% |
| 2022 | $39.99B | +1.8% | $27.84B | 69.6% | $4.06B | 10.1% |
| 2021 | $39.28B | -8.8% | $27.79B | 70.8% | $13.59B | 34.6% |
| 2020 | $43.08B | -11.0% | $30.93B | 71.8% | $4.14B | 9.6% |
| 2019 | $48.42B | -0.6% | $35.68B | 73.7% | $4.54B | 9.4% |
| 2018 | $48.69B | -6.4% | $34.68B | 71.2% | $6.52B | 13.4% |
| 2017 | $52.01B | -0.1% | $36.99B | 71.1% | $6.79B | 13.1% |
| 2016 | $52.04B | +10.2% | $36.79B | 70.7% | $5.47B | 10.5% |
| 2015 | $47.22B | -6.3% | $34.31B | 72.7% | $2.90B | 6.1% |
Full TEF Stock Analysis
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Start ComparisonTEF — Frequently Asked Questions
Quick answers to the most common questions about buying TEF stock.
Is TEF's revenue growth accelerating or slowing?
TEF revenue declined -6.6% year-over-year, contrasting with the 5-year CAGR of -3.1%. TTM revenue fell to $38.3B. This reverses the prior growth trend.
What is TEF's long-term revenue growth rate?
Telefónica, S.A.'s 5-year revenue CAGR of -3.1% reflects the variable expansion pattern. Current YoY growth of -6.6% is below this long-term average.
How is TEF's revenue distributed by segment?
TEF reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.