Cellnex vs Telefónica (CLNX vs TEF)
Cellnex (CLNX) vs Telefónica (TEF) in plain English: P/E, growth, margins, debt and dividend side by side, key differences and which fits each investor profile.
Cellnex (CLNX) and Telefónica (TEF) compete in telecommunications. Here are Cellnex and Telefónica side by side with their real figures as of November 4, 2026: what sets them apart, which fits each kind of investor and the most common questions, without telling you whether to buy Cellnex or Telefónica.
Cellnex vs Telefónica: the figures
| Figure | Cellnex | Telefónica |
|---|---|---|
| Share price | €26.83 (November 4, 2026) | €3.45 (November 4, 2026) |
| Market cap | €17.6 billion | €19.4 billion |
| P/E (TTM) | N/A | N/A |
| Forward P/E | N/A | 8.9x |
| Revenue growth (quarter) | +15.5% | N/A |
| Net margin (TTM) | -8.2% | -9.1% |
| Net debt / EBITDA | 7.8x | 5.3x |
| Dividend yield | 2.89% | 4.50% |
| Beta | 1.33 | 0.35 |
Cellnex and Telefónica figures from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026; N/A means that Cellnex or Telefónica figure is not available, and we never estimate it.
3 key differences between Cellnex and Telefónica
- Volatility: Cellnex stock moves more (beta 1.33) than Telefónica (beta 0.35); the higher the beta, the more it amplifies market swings.
- Debt: Cellnex owes 7.8x its annual operating profit (EBITDA), while Telefónica owes 5.3x its EBITDA.
- Dividend: Telefónica yields 4.50% at today's price and Cellnex yields 2.89%.
Cellnex or Telefónica: which fits your profile
- If you want income (dividends): Telefónica pays the higher dividend relative to its price.
- If you prefer caution: Telefónica has less debt relative to its profit, which usually gives more room in a bad year.
Neither Cellnex nor Telefónica wins on everything, and owning both is also an option: spreading money across several companies or an index fund reduces what rides on each one.
How Cellnex and Telefónica make money
Cellnex (CLNX)
Cellnex owns telecom towers and sites across Europe and rents space on them to mobile carriers such as Telefónica, Vodafone, Orange and Bouygues for their antennas. These long-term leases are its main source of revenue. France, Italy, Spain, the UK and Poland are its largest markets. Full Cellnex analysis.
Telefónica (TEF)
Telefónica earns monthly fees for mobile, fiber and pay TV from households and businesses. It reports by country: Spain under the Movistar brand, Brazil under Vivo, and Germany are its largest markets, alongside Hispanic America. Telefónica Tech sells cloud and cybersecurity services, and the company co-owns its UK business with Liberty Global. Full Telefónica analysis.
Frequently asked questions: Cellnex vs Telefónica
Is Cellnex or Telefónica the better stock?
Choosing between Cellnex and Telefónica depends on what you are looking for. Each has different strengths. Fintols does not tell you whether to buy Cellnex or Telefónica: it shows you the differences so you can decide.
Which pays a higher dividend, Cellnex or Telefónica?
As of November 4, 2026, Telefónica yields 4.50% and Cellnex yields 2.89%. Also check how much of their profit Cellnex and Telefónica pay out: if it is more than they earn, it cannot last.
Can I own both Cellnex and Telefónica?
Yes. Many people spread their money across several companies, such as Cellnex and Telefónica, or use index funds so they do not depend on just one. If you are starting out, decide how much you want to invest and for how long before buying Cellnex or Telefónica.
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More companies like Cellnex and Telefónica: telecommunications stocks. Educational content about Cellnex and Telefónica, not investment advice.