{
 "as_of": "2026-11-06",
 "cmr": "es-cm-kg/XMAD/ES0178430E18",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# TELEFONICA,S.A. (BME Madrid: ES0178430E18) — research page\n\nAs of 2026-11-06 · es-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is TELEFONICA,S.A., listed on BME Madrid under ticker ES0178430E18, with ISIN ES0178430E18 and LEI 549300EEJH4FEPDBBR25. Its security type, segment, sector and jurisdiction are not on the record. Its listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 41 filings in the twelve months to 2026-11-06, across 27 filing days. The median gap between filing days is 7.0 days. The latest filing is dated 2026-10-21 and is of type Sobre Gobierno corporativo, 16 days before the record date. BME Madrid has 122 issuers with a median cadence gap of 9 days, a median of 31.0 filings and a median latency of 8 days. The sector peer figures are not on the record for this market.\n\n## Auditor\n\nThe auditor and its location are not on the record. Auditor changes are not on the record, as this register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, as this register has no lifecycle type map yet. The issuer is listed, not halted.\n\n## Orderability\n\nThe outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/es/mifid-ii-product-governance/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's investor-relations page names 27 research houses: Alantra, Barclays, Berenberg, Bernstein, Bestinver, BofA, CaixaBank, Citi, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, GVC Gaesco, Intesa Sanpaolo, JB Capital Markets, JP Morgan, Kepler Cheuvreux, Kutxabank, Mediobanca, Morgan Stanley, New Street, Nextgen, Oddo, Renta 4, Sabadell, Santander, UBS and BNP Paribas.\n\n## Open research\n\nNo openly published research notes were found on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, and the market's earliest sealed date and the live record start date are not on the record.\n\n## Sources\n\n7 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://firds.esma.europa.eu/firds/ (identity.exchange)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.es-cm-kg.ai/events/XMAD/ES0178430E18 (the disclosure lines)\n- https://www.cnmv.es/portal/Informacion-Privilegiada/Resultado-IP?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://www.cnmv.es/portal/Otra-Informacion-Relevante/Resultado-OIR?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://apiweb.bolsasymercados.es/Market/v1/EQ/ShareDetailsInfo?isin=<roster ISIN> (the halt flag)\n- https://es.eu-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/ (coverage)\n- https://mcp.es-cm-kg.ai/record/XMAD/ES0178430E18 (the record)\n",
 "market": "ES",
 "node": "es-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the ES vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "market": "ES",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "ES",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "ES",
    "state": "not_on_record"
   },
   "changes": {
    "market": "ES",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "es-cm-kg/XMAD/ES0178430E18",
  "coverage": {
   "count": 27,
   "houses": [
    {
     "analyst": "Fernando Abril-Martorell",
     "house": "Alantra",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Mathieu Robilliard",
     "house": "Barclays",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Nick Lyall",
     "house": "Berenberg",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Ulrich Rathe",
     "house": "Bernstein",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Arnaud Camus",
     "house": "Bestinver",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "David Wright",
     "house": "BofA",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "José Ramón Ocina",
     "house": "CaixaBank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Carl Murdock-Smith",
     "house": "Citi",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Keval Khiroya",
     "house": "Deutsche Bank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Joshua Mills",
     "house": "Exane BNP Paribas",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Andrew Lee Sofija Rakicevic",
     "house": "Goldman Sachs",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Luis Padrón",
     "house": "GVC Gaesco",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Andrea Devita",
     "house": "Intesa Sanpaolo",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Antonio Rodriguez",
     "house": "JB Capital Markets",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Akhil Dattani",
     "house": "JP Morgan",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Javier Borrachero",
     "house": "Kepler Cheuvreux",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Virginia Lezama",
     "house": "Kutxabank",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Fabio Pavan",
     "house": "Mediobanca",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Emmet Kelly",
     "house": "Morgan Stanley",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "James Ratzer",
     "house": "New Street",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Justin Funnell",
     "house": "Nextgen",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Stephane Beyazian",
     "house": "Oddo",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Ivan San-Felix",
     "house": "Renta 4",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Álvaro del Pozo",
     "house": "Sabadell",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Fernando Cordero Barreira",
     "house": "Santander",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Ondrej Cabejsek",
     "house": "UBS",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    },
    {
     "analyst": "Joshua Mills",
     "house": "BNP Paribas",
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     "read_date": "2026-11-12",
     "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/",
     "result": "read: 27 of 52 named houses found on the page"
    }
   ],
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     "name": "BME Madrid"
    },
    "sector": {
     "market": "ES",
     "state": "not_on_record"
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   },
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    "Informes financieros anuales y de auditoría": 1,
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   },
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     "category": "Sobre Gobierno corporativo",
     "date": "2026-10-21",
     "source": "https://www.cnmv.es/webservices/verdocumento/ver?t=%7bd5c0b1dd-4b13-49b4-980a-bcf61e957c0e%7d",
     "title": "Telefónica, S.A. informa sobre cambios en la composición de sus Comisiones.",
     "type": "Sobre Gobierno corporativo"
    },
    {
     "category": "Otra información relevante",
     "date": "2026-10-14",
     "source": "https://www.cnmv.es/webservices/verdocumento/ver?t=%7b9eea97a6-c168-4a32-acf7-ece65ae4fe97%7d",
     "title": "Telefónica, S.A. informa sobre la fecha de publicación de los resultados correspondientes al periodo enero - septiembre 2026.",
     "type": "Otra información relevante"
    },
    {
     "category": "Otra información relevante",
     "date": "2026-09-30",
     "source": "https://www.cnmv.es/webservices/verdocumento/ver?t=%7b80dd7aaa-0350-43cc-9aab-9663be036a40%7d",
     "title": "Telefónica informa del traslado del domicilio social.",
     "type": "Otra información relevante"
    },
    {
     "category": "Otra información relevante",
     "date": "2026-09-30",
     "source": "https://www.cnmv.es/webservices/verdocumento/ver?t=%7b5148bc46-09e7-4c21-95e8-c90f1550acc5%7d",
     "title": "Telefónica informa de la simplificación de su modelo operativo en España.",
     "type": "Otra información relevante"
    },
    {
     "category": "Sobre negocio y situación financiera",
     "date": "2026-09-15",
     "source": "https://www.cnmv.es/webservices/verdocumento/ver?t=%7b32f9873e-3d85-4b84-80a7-fb0adc657e55%7d",
     "title": "Telefónica Audiovisual Digital ha alcanzado un acuerdo con la compañía DAZN para la distribución del Paquete de DAZN LaLiga.",
     "type": "Sobre negocio y situación financiera"
    }
   ],
   "latest_filing_date": "2026-10-21",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
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    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
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    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
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   }
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   "determinable": false,
   "read": {
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    "door": "https://es.eu-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/es/mifid-ii-product-governance/r1",
   "section": "es.aio.v6"
  },
  "record": {
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  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://www.cnmv.es/portal/Informacion-Privilegiada/Resultado-IP?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://www.cnmv.es/portal/Otra-Informacion-Relevante/Resultado-OIR?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://apiweb.bolsasymercados.es/Market/v1/EQ/ShareDetailsInfo?isin=<roster ISIN>",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:e7f090d85aa170db08e2862dfeb29922e0734f078b3e07283df3c646956c2145",
 "path": "/es/XMAD/ES0178430E18",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is TELEFONICA,S.A., listed on BME Madrid under ticker ES0178430E18, with ISIN ES0178430E18 and LEI 549300EEJH4FEPDBBR25. Its security type, segment, sector and jurisdiction are not on the record. Its listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 41 filings in the twelve months to 2026-11-06, across 27 filing days. The median gap between filing days is 7.0 days. The latest filing is dated 2026-10-21 and is of type Sobre Gobierno corporativo, 16 days before the record date. BME Madrid has 122 issuers with a median cadence gap of 9 days, a median of 31.0 filings and a median latency of 8 days. The sector peer figures are not on the record for this market.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor and its location are not on the record. Auditor changes are not on the record, as this register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, as this register has no lifecycle type map yet. The issuer is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/es/mifid-ii-product-governance/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's investor-relations page names 27 research houses: Alantra, Barclays, Berenberg, Bernstein, Bestinver, BofA, CaixaBank, Citi, Deutsche Bank, Exane BNP Paribas, Goldman Sachs, GVC Gaesco, Intesa Sanpaolo, JB Capital Markets, JP Morgan, Kepler Cheuvreux, Kutxabank, Mediobanca, Morgan Stanley, New Street, Nextgen, Oddo, Renta 4, Sabadell, Santander, UBS and BNP Paribas.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, and the market's earliest sealed date and the live record start date are not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "7 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://firds.esma.europa.eu/firds/"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.es-cm-kg.ai/events/XMAD/ES0178430E18"
  },
  {
   "for": "the halt flag",
   "source": "https://www.cnmv.es/portal/Informacion-Privilegiada/Resultado-IP?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://www.cnmv.es/portal/Otra-Informacion-Relevante/Resultado-OIR?tipos=<category blob>&fechaDesde=09/11/2025&fechaHasta=09/11/2026 | https://apiweb.bolsasymercados.es/Market/v1/EQ/ShareDetailsInfo?isin=<roster ISIN>"
  },
  {
   "for": "the orderability chapter",
   "source": "https://es.eu-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://www.telefonica.com/en/shareholders-investors/share/analyst-recommendations/"
  },
  {
   "for": "the record",
   "source": "https://mcp.es-cm-kg.ai/record/XMAD/ES0178430E18"
  }
 ],
 "title": "TELEFONICA,S.A. (ES0178430E18) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}