Telefonica (TEF) - Cash Flow Conversion Efficiency

Latest as of December 2025: 0.183x

Based on the latest financial reports, Telefonica (TEF) has a cash flow conversion efficiency ratio of 0.183x as of December 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (€3.26 Billion ≈ $3.82 Billion USD) by net assets (€17.81 Billion ≈ $20.82 Billion USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations.

Telefonica - Cash Flow Conversion Efficiency Trend (1989–2025)

This chart illustrates how Telefonica's cash flow conversion efficiency has evolved over time, based on yearly financial data. Read Telefonica total liabilities for a breakdown of total debt and financial obligations.

Telefonica Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Telefonica ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
BOE Technology Group Co Ltd SHE:000725	0.070x
Airports of Thailand Public Company Limited F:NYVQ	0.071x
Indian Oil Corporation Limited NSE:IOC	0.162x
Veralto Corporation NYSE:VLTO	0.095x
Veolia Environnement VE SA PA:VIE	0.090x
Woodward Inc NASDAQ:WWD	0.044x
InterContinental Hotels Group PLC LSE:IHG	-0.215x
ZTE Corp SHE:000063	0.012x

Annual Cash Flow Conversion Efficiency for Telefonica (1989–2025)

The table below shows the annual cash flow conversion efficiency of Telefonica from 1989 to 2025. For the full company profile with market capitalisation and key ratios, see Telefonica market capitalisation.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2025-12-31	€17.81 Billion ≈ $20.82 Billion	€9.72 Billion ≈ $11.37 Billion	0.546x	+12.97%
2024-12-31	€22.75 Billion ≈ $26.60 Billion	€10.99 Billion ≈ $12.85 Billion	0.483x	+12.41%
2023-12-31	€27.10 Billion ≈ $31.68 Billion	€11.65 Billion ≈ $13.62 Billion	0.430x	+26.14%
2022-12-31	€31.71 Billion ≈ $37.07 Billion	€10.81 Billion ≈ $12.63 Billion	0.341x	-4.79%
2021-12-31	€28.68 Billion ≈ $33.53 Billion	€10.27 Billion ≈ $12.00 Billion	0.358x	-50.47%
2020-12-31	€18.26 Billion ≈ $21.35 Billion	€13.20 Billion ≈ $15.43 Billion	0.723x	+22.57%
2019-12-31	€25.45 Billion ≈ $29.75 Billion	€15.01 Billion ≈ $17.54 Billion	0.590x	+19.52%
2018-12-31	€26.98 Billion ≈ $31.54 Billion	€13.31 Billion ≈ $15.56 Billion	0.493x	-4.81%
2017-12-31	€26.62 Billion ≈ $31.12 Billion	€13.79 Billion ≈ $16.13 Billion	0.518x	+10.07%
2016-12-31	€28.39 Billion ≈ $33.19 Billion	€13.36 Billion ≈ $15.62 Billion	0.471x	-4.59%
2015-12-31	€27.56 Billion ≈ $32.22 Billion	€13.60 Billion ≈ $15.90 Billion	0.493x	+22.74%
2014-12-31	€30.29 Billion ≈ $35.41 Billion	€12.18 Billion ≈ $14.24 Billion	0.402x	-22.10%
2013-12-31	€27.48 Billion ≈ $32.13 Billion	€14.18 Billion ≈ $16.58 Billion	0.516x	-6.17%
2012-12-31	€27.66 Billion ≈ $32.34 Billion	€15.21 Billion ≈ $17.79 Billion	0.550x	-13.85%
2011-12-31	€27.38 Billion ≈ $32.01 Billion	€17.48 Billion ≈ $20.44 Billion	0.638x	+21.34%
2010-12-31	€31.68 Billion ≈ $37.04 Billion	€16.67 Billion ≈ $19.49 Billion	0.526x	-20.90%
2009-12-31	€24.27 Billion ≈ $28.38 Billion	€16.15 Billion ≈ $18.88 Billion	0.665x	-20.55%
2008-12-31	€19.56 Billion ≈ $22.87 Billion	€16.38 Billion ≈ $19.15 Billion	0.837x	+23.06%
2007-12-31	€22.86 Billion ≈ $26.72 Billion	€15.55 Billion ≈ $18.18 Billion	0.680x	-11.71%
2006-12-31	€20.00 Billion ≈ $23.38 Billion	€15.41 Billion ≈ $18.02 Billion	0.771x	+11.79%
2005-12-31	€16.15 Billion ≈ $18.88 Billion	€11.13 Billion ≈ $13.01 Billion	0.689x	+35.35%
2004-12-31	€19.99 Billion ≈ $23.37 Billion	€10.18 Billion ≈ $11.90 Billion	0.509x	+17.38%
2003-12-31	€21.15 Billion ≈ $24.72 Billion	€9.18 Billion ≈ $10.73 Billion	0.434x	+11.29%
2002-12-31	€22.61 Billion ≈ $26.43 Billion	€8.81 Billion ≈ $10.31 Billion	0.390x	+47.04%
2001-12-31	€33.31 Billion ≈ $38.94 Billion	€8.83 Billion ≈ $10.33 Billion	0.265x	-37.44%
1996-12-31	€13.71 Billion ≈ $16.02 Billion	€5.81 Billion ≈ $6.79 Billion	0.424x	+719.42%
1995-12-31	€11.92 Billion ≈ $13.93 Billion	€616.36 Million ≈ $720.59 Million	0.052x	-87.65%
1994-12-31	€9.37 Billion ≈ $10.95 Billion	€3.92 Billion ≈ $4.59 Billion	0.419x	+190.75%
1990-12-31	€9.89 Billion ≈ $11.56 Billion	€1.42 Billion ≈ $1.67 Billion	0.144x	-47.13%
1989-12-31	€9.41 Billion ≈ $11.00 Billion	€2.56 Billion ≈ $3.00 Billion	0.272x	--

About Telefonica

MC:TEF Spain Telecom Services

Market Cap

$25.43 Billion

€21.75 Billion EUR

Market Cap Rank

#1172 Global

#13 in Spain

Share Price

€3.86

Change (1 day)

+1.45%

52-Week Range

€3.24 - €4.89

All Time High

€7.42