Telefonica SA ADR (TEF) — Capital Reinvestment Ratio
Telefonica SA ADR (TEF) has a Capital Reinvestment Ratio of 0.65x as of September 2025, meaning it reinvests 1% of its operating cash flow ($2.44 Billion) in capital expenditures ($1.58 Billion). Check TEF goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Telefonica SA ADR Capital Reinvestment Ratio (1989–2024)
This chart tracks Telefonica SA ADR's Capital Reinvestment Ratio across 29 annual periods. For the full cash flow conversion analysis, see cash flow conversion of Telefonica SA ADR.
Annual Capital Reinvestment Ratio for Telefonica SA ADR (1989–2024)
Year-by-year Capital Reinvestment Ratio for Telefonica SA ADR from 1989 to 2024. See how much free cash does Telefonica SA ADR generate to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2024 | 0.53x | $10.99 Billion | $5.79 Billion | ▼ -0.4% |
| 2023 | 0.53x | $12.59 Billion | $6.66 Billion | ▲ +3.8% |
| 2022 | 0.51x | $10.81 Billion | $5.51 Billion | ▼ -15.1% |
| 2021 | 0.60x | $10.27 Billion | $6.16 Billion | ▲ +12.8% |
| 2020 | 0.53x | $13.20 Billion | $7.02 Billion | ▼ -5.1% |
| 2019 | 0.56x | $15.01 Billion | $8.41 Billion | ▼ -15.0% |
| 2018 | 0.66x | $13.31 Billion | $8.78 Billion | ▲ +1.2% |
| 2017 | 0.65x | $13.79 Billion | $8.99 Billion | ▼ -5.2% |
| 2016 | 0.69x | $13.36 Billion | $9.19 Billion | ▼ -0.6% |
| 2015 | 0.69x | $13.60 Billion | $9.40 Billion | ▼ -8.5% |
| 2014 | 0.76x | $12.18 Billion | $9.21 Billion | ▲ +10.8% |
| 2013 | 0.68x | $14.18 Billion | $9.67 Billion | ▲ +9.5% |
| 2012 | 0.62x | $15.21 Billion | $9.48 Billion | ▲ +19.9% |
| 2011 | 0.52x | $17.48 Billion | $9.09 Billion | ▼ -3.1% |
| 2010 | 0.54x | $16.67 Billion | $8.94 Billion | ▲ +14.1% |
| 2009 | 0.47x | $16.15 Billion | $7.59 Billion | ▼ -2.4% |
| 2008 | 0.48x | $16.38 Billion | $7.89 Billion | ▲ +3.0% |
| 2007 | 0.47x | $15.55 Billion | $7.27 Billion | ▲ +4.0% |
| 2006 | 0.45x | $15.41 Billion | $6.93 Billion | ▲ +4330.4% |
| 2005 | 0.01x | $11.13 Billion | $113.00 Million | ▼ -75.6% |
| 2004 | 0.04x | $10.18 Billion | $424.00 Million | ▼ -9.9% |
| 2003 | 0.05x | $9.18 Billion | $424.00 Million | ▼ -90.6% |
| 2002 | 0.49x | $8.81 Billion | $4.31 Billion | ▼ -36.2% |
| 2001 | 0.77x | $8.83 Billion | $6.77 Billion | ▲ +7.2% |
| 1996 | 0.72x | $5.81 Billion | $4.16 Billion | ▼ -88.2% |
| 1995 | 6.06x | $616.36 Million | $3.73 Billion | ▲ +373.1% |
| 1994 | 1.28x | $3.92 Billion | $5.02 Billion | ▼ -66.4% |
| 1990 | 3.81x | $1.42 Billion | $5.42 Billion | ▲ +124.5% |
| 1989 | 1.70x | $2.56 Billion | $4.35 Billion | — |