Telefonica (TEF) — Cash Flow Reinvestment Rate
Telefonica (TEF) has a Cash Flow Reinvestment Rate of 0.48x as of December 2025, reinvesting €1.58 Billion (capex €1.04 Billion plus investments €535.00 Million) from operating cash flow of €3.26 Billion. Explore TEF capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
Telefonica Cash Flow Reinvestment Rate (1989–2025)
Historical reinvestment intensity for Telefonica across 30 annual periods. Also explore Telefonica total assets for the complete picture of this company's asset base.
Annual Cash Flow Reinvestment Rate for Telefonica (1989–2025)
Year-by-year capital reinvestment analysis for Telefonica. For live market cap and broader valuation context, see market value of Telefonica.
| Year | Reinvestment Rate | Total Reinvested (EUR) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.60x | €5.83 Billion | €9.72 Billion | €5.05 Billion | ▼ -40.2% |
| 2024 | 1.00x | €11.01 Billion | €10.99 Billion | €5.79 Billion | ▼ -3.3% |
| 2023 | 1.04x | €12.07 Billion | €11.65 Billion | €6.16 Billion | ▲ +3.3% |
| 2022 | 1.00x | €10.84 Billion | €10.81 Billion | €5.51 Billion | ▲ +64.4% |
| 2021 | 0.61x | €6.26 Billion | €10.27 Billion | €6.16 Billion | ▲ +14.2% |
| 2020 | 0.53x | €7.04 Billion | €13.20 Billion | €7.02 Billion | ▼ -6.1% |
| 2019 | 0.57x | €8.53 Billion | €15.01 Billion | €8.41 Billion | ▼ -14.4% |
| 2018 | 0.66x | €8.84 Billion | €13.31 Billion | €8.78 Billion | ▲ +1.0% |
| 2017 | 0.66x | €9.07 Billion | €13.79 Billion | €8.99 Billion | ▼ -49.5% |
| 2016 | 1.30x | €17.39 Billion | €13.36 Billion | €9.19 Billion | ▲ +73.5% |
| 2015 | 0.75x | €10.20 Billion | €13.60 Billion | €9.40 Billion | ▼ -9.4% |
| 2014 | 0.83x | €10.09 Billion | €12.18 Billion | €9.21 Billion | ▲ +17.7% |
| 2013 | 0.70x | €9.98 Billion | €14.18 Billion | €9.67 Billion | ▲ +12.9% |
| 2012 | 0.62x | €9.48 Billion | €15.21 Billion | €9.48 Billion | ▲ +19.9% |
| 2011 | 0.52x | €9.09 Billion | €17.48 Billion | €9.09 Billion | ▼ -3.1% |
| 2010 | 0.54x | €8.94 Billion | €16.67 Billion | €8.94 Billion | ▲ +14.1% |
| 2009 | 0.47x | €7.59 Billion | €16.15 Billion | €7.59 Billion | ▼ -2.4% |
| 2008 | 0.48x | €7.89 Billion | €16.38 Billion | €7.89 Billion | ▲ +3.0% |
| 2007 | 0.47x | €7.27 Billion | €15.55 Billion | €7.27 Billion | ▲ +4.0% |
| 2006 | 0.45x | €6.93 Billion | €15.41 Billion | €6.93 Billion | ▲ +13.2% |
| 2005 | 0.40x | €4.42 Billion | €11.13 Billion | €4.42 Billion | ▲ +27.5% |
| 2004 | 0.31x | €3.17 Billion | €10.18 Billion | €3.17 Billion | ▼ -3.8% |
| 2003 | 0.32x | €2.97 Billion | €9.18 Billion | €2.97 Billion | ▼ -33.8% |
| 2002 | 0.49x | €4.31 Billion | €8.81 Billion | €4.31 Billion | ▼ -36.2% |
| 2001 | 0.77x | €6.77 Billion | €8.83 Billion | €6.77 Billion | ▲ +7.2% |
| 1996 | 0.72x | €4.16 Billion | €5.81 Billion | €4.16 Billion | ▼ -88.2% |
| 1995 | 6.06x | €3.73 Billion | €616.36 Million | €3.73 Billion | ▲ +373.1% |
| 1994 | 1.28x | €5.02 Billion | €3.92 Billion | €5.02 Billion | ▼ -66.4% |
| 1990 | 3.81x | €5.42 Billion | €1.42 Billion | €5.42 Billion | ▲ +124.5% |
| 1989 | 1.70x | €4.35 Billion | €2.56 Billion | €4.35 Billion | — |