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 how many days can Telefonica fund operations to measure how many days the company can operate on defensive assets alone.

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.

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
AVIVA PLC SPONS.ADR/2 F:GU80	N/A
Partners Group Holding AG SW:PGHN	0.271x
ZTE Corp SHE:000063	0.036x
NiSource Inc NYSE:NI	0.037x
S.F. Holding Co. Ltd SHE:002352	0.061x
Pure Storage Inc NYSE:PSTG	-0.269x
BCE Inc TO:BCE	0.084x

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

$24.34 Billion

€20.82 Billion EUR

Market Cap Rank

#1182 Global

#12 in Spain

Share Price

€3.69

Change (1 day)

-0.43%

52-Week Range

€3.24 - €4.89

All Time High

€7.42