Telefonica (TEF) - Cash Flow Conversion Efficiency

Latest as of March 2026: 0.081x

Based on the latest financial reports, Telefonica (TEF) has a cash flow conversion efficiency ratio of 0.081x as of March 2026. 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 (€1.47 Billion ≈ $1.72 Billion USD) by net assets (€18.25 Billion ≈ $21.33 Billion USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See TEF equity financing ratio to measure how much of total assets are equity-financed.

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. Check Telefonica earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.

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
CHINA RES.LAND UNS.ADR/10 F:CHZ0	N/A
Woodward Inc NASDAQ:WWD	0.044x
AVIVA PLC SPONS.ADR/2 F:GU80	N/A
Yantai Jereh Oilfield Services Group Co Ltd SHE:002353	-0.009x
Fidelity National Information Services Inc NYSE:FIS	0.076x
Peric Special Gases Co. Ltd. A SHG:688146	N/A
Entegris Inc NASDAQ:ENTG	0.045x
Packaging Corp of America NYSE:PKG	0.099x

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 TEF company net worth.

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

$23.82 Billion

€20.38 Billion EUR

Market Cap Rank

#1172 Global

#12 in Spain

Share Price

€3.61

Change (1 day)

-1.12%

52-Week Range

€3.24 - €4.89

All Time High

€7.42