Telefonica (TEF) — Cash Flow Reinvestment Rate
Latest as of March 2026:
0.78x
Telefonica (TEF) has a Cash Flow Reinvestment Rate of 0.78x as of March 2026, reinvesting €1.15 Billion (capex €1.15 Billion ) from operating cash flow of €1.47 Billion. Check Telefonica (TEF) cash flow quality to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
0.78x
(Capex + Investments) / Operating CF
Total Reinvested
€1.15 Billion
Capex + Investments
Operating Cash Flow
€1.47 Billion
EUR
Capital Expenditures
€1.15 Billion
EUR
Telefonica Cash Flow Reinvestment Rate (1989–2025)
Historical reinvestment intensity for Telefonica across 30 annual periods. Explore Telefonica (TEF) long-term investment share to see how much of total assets are deployed in long-term investments.
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 TEF company net worth.
| 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 | — |
Cash Flow Reinvestment Rate = (ABS(Capex) + ABS(Investments)) / Operating Cash Flow