Telefonica (TEF) — Cash Flow-to-Debt Ratio
Telefonica (TEF) has a Cash Flow-to-Debt Ratio of 0.04x as of December 2025, meaning its operating cash flow of €3.26 Billion could theoretically repay 0% of its total liabilities (€74.21 Billion) in one year. See TEF FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Telefonica Cash Flow-to-Debt Ratio (1989–2025)
Historical debt coverage capacity for Telefonica across 30 annual periods. Also explore net asset growth rate of Telefonica to track the company's year-over-year net asset growth rate.
Annual Cash Flow-to-Debt Ratio for Telefonica (1989–2025)
Year-by-year debt coverage analysis for Telefonica. For market capitalisation and broader financial context, see Telefonica market cap and net worth.
| Year | CF-to-Debt Ratio | Operating CF (EUR) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.13x | €9.72 Billion | €74.21 Billion | ▼ -7.3% |
| 2024 | 0.14x | €10.99 Billion | €77.75 Billion | ▼ -6.3% |
| 2023 | 0.15x | €11.65 Billion | €77.23 Billion | ▲ +8.8% |
| 2022 | 0.14x | €10.81 Billion | €77.93 Billion | ▲ +8.8% |
| 2021 | 0.13x | €10.27 Billion | €80.53 Billion | ▼ -16.1% |
| 2020 | 0.15x | €13.20 Billion | €86.79 Billion | ▼ -5.3% |
| 2019 | 0.16x | €15.01 Billion | €93.43 Billion | ▲ +5.1% |
| 2018 | 0.15x | €13.31 Billion | €87.07 Billion | ▼ -2.0% |
| 2017 | 0.16x | €13.79 Billion | €88.45 Billion | ▲ +11.2% |
| 2016 | 0.14x | €13.36 Billion | €95.26 Billion | ▼ -1.6% |
| 2015 | 0.14x | €13.60 Billion | €95.42 Billion | ▲ +7.7% |
| 2014 | 0.13x | €12.18 Billion | €92.01 Billion | ▼ -14.7% |
| 2013 | 0.16x | €14.18 Billion | €91.38 Billion | ▲ +4.2% |
| 2012 | 0.15x | €15.21 Billion | €102.11 Billion | ▼ -12.9% |
| 2011 | 0.17x | €17.48 Billion | €102.24 Billion | ▲ +0.6% |
| 2010 | 0.17x | €16.67 Billion | €98.09 Billion | ▼ -11.7% |
| 2009 | 0.19x | €16.15 Billion | €83.87 Billion | ▼ -5.6% |
| 2008 | 0.20x | €16.38 Billion | €80.33 Billion | ▲ +8.9% |
| 2007 | 0.19x | €15.55 Billion | €83.02 Billion | ▲ +8.1% |
| 2006 | 0.17x | €15.41 Billion | €88.98 Billion | ▼ -11.3% |
| 2005 | 0.20x | €11.13 Billion | €56.97 Billion | ▼ -16.6% |
| 2004 | 0.23x | €10.18 Billion | €43.43 Billion | ▲ +4.3% |
| 2003 | 0.22x | €9.18 Billion | €40.82 Billion | ▲ +15.8% |
| 2002 | 0.19x | €8.81 Billion | €45.43 Billion | ▲ +16.8% |
| 2001 | 0.17x | €8.83 Billion | €53.15 Billion | ▼ -44.0% |
| 1996 | 0.30x | €5.81 Billion | €19.58 Billion | ▲ +812.3% |
| 1995 | 0.03x | €616.36 Million | €18.95 Billion | ▼ -83.3% |
| 1994 | 0.20x | €3.92 Billion | €20.12 Billion | ▲ +109.0% |
| 1990 | 0.09x | €1.42 Billion | €15.27 Billion | ▼ -54.4% |
| 1989 | 0.20x | €2.56 Billion | €12.51 Billion | — |