Telefonica (TEF) — Defensive Interval Ratio
Telefonica (TEF) has a Defensive Interval Ratio of 168 days as of June 2026. Defensive assets of €9.92 Billion (cash €-, short-term investments €708.00 Million, receivables €9.21 Billion) cover 168 days of daily cash needs of €59.03 Million/day.
Defensive Interval Ratio
Defensive Assets
Daily Cash Need
Current Liabilities
Telefonica Defensive Interval Ratio (1987–2025)
This chart shows how Telefonica's Defensive Interval Ratio has evolved across 37 annual periods from 1987 to 2025. As of June 2026, the ratio stands at 168 days, meaning defensive assets of €9.92 Billion can fund 168 days of operations without new revenue. For the complete balance sheet picture, see Telefonica assets under control.
Annual Defensive Interval Ratio for Telefonica (1987–2025)
The table below presents the year-by-year Defensive Interval Ratio for Telefonica from 1987 to 2025, covering 37 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See working capital position of Telefonica to evaluate short-term liquidity relative to the company's equity base.
| Year | DIR (days) | Defensive Assets (EUR) | Daily Cash Need | Cash | ST Investments | Change (days) |
|---|---|---|---|---|---|---|
| 2025 | 135 days | €9.16 Billion | €68.05 Million/day | €- | €870.00 Million | ▼ -10 days |
| 2024 | 144 days | €10.16 Billion | €70.50 Million/day | €- | €1.20 Billion | ▲ +25 days |
| 2023 | 120 days | €7.67 Billion | €64.11 Million/day | €- | €517.00 Million | ▼ -213 days |
| 2022 | 332 days | €21.04 Billion | €63.29 Million/day | €7.25 Billion | €2.44 Billion | ▲ +6 days |
| 2021 | 327 days | €22.82 Billion | €69.85 Million/day | €8.58 Billion | €3.83 Billion | ▲ +112 days |
| 2020 | 215 days | €16.52 Billion | €77.03 Million/day | €5.60 Billion | €2.50 Billion | ▲ +74 days |
| 2019 | 141 days | €11.64 Billion | €82.72 Million/day | €- | €3.12 Billion | ▲ +11 days |
| 2018 | 130 days | €10.56 Billion | €81.23 Million/day | €- | €2.21 Billion | ▼ -6 days |
| 2017 | 136 days | €10.85 Billion | €79.63 Million/day | €- | €2.15 Billion | ▲ +11 days |
| 2016 | 126 days | €12.20 Billion | €97.13 Million/day | €- | €2.95 Billion | ▼ 0 days |
| 2015 | 126 days | €12.04 Billion | €95.53 Million/day | €- | €2.97 Billion | ▼ -49 days |
| 2014 | 175 days | €14.24 Billion | €81.37 Million/day | €- | €2.93 Billion | ▲ +21 days |
| 2013 | 154 days | €12.28 Billion | €79.85 Million/day | €- | €2.12 Billion | ▼ -1 days |
| 2012 | 155 days | €13.40 Billion | €86.33 Million/day | €- | €1.87 Billion | ▼ -5 days |
| 2011 | 161 days | €14.33 Billion | €89.25 Million/day | €- | €2.62 Billion | ▲ +7 days |
| 2010 | 153 days | €14.07 Billion | €91.76 Million/day | €- | €1.57 Billion | ▼ -20 days |
| 2009 | 174 days | €12.80 Billion | €73.80 Million/day | €- | €1.91 Billion | ▲ +2 days |
| 2008 | 172 days | €11.81 Billion | €68.85 Million/day | €- | €2.22 Billion | ▼ -8 days |
| 2007 | 180 days | €12.29 Billion | €68.42 Million/day | €- | €1.62 Billion | ▲ +9 days |
| 2006 | 170 days | €12.28 Billion | €72.15 Million/day | €- | €1.68 Billion | ▲ +21 days |
| 2005 | 149 days | €8.96 Billion | €59.93 Million/day | €- | €352.92 Million | ▲ +7 days |
| 2004 | 142 days | €7.62 Billion | €53.53 Million/day | €- | €689.67 Million | ▼ -25 days |
| 2003 | 167 days | €6.34 Billion | €37.88 Million/day | €- | €133.23 Million | ▼ -66 days |
| 2002 | 234 days | €9.40 Billion | €40.22 Million/day | €- | €3.37 Billion | ▲ +29 days |
| 2001 | 204 days | €10.31 Billion | €50.48 Million/day | €- | €2.31 Billion | ▼ -17 days |
| 2000 | 222 days | €14.61 Billion | €65.94 Million/day | €- | €6.09 Billion | ▲ +9 days |
| 1999 | 213 days | €7.86 Billion | €36.95 Million/day | €- | €773.36 Million | ▲ +42 days |
| 1998 | 170 days | €5.66 Billion | €33.21 Million/day | €- | €392.05 Million | ▲ +9 days |
| 1997 | 162 days | €3.78 Billion | €23.37 Million/day | €- | €- | ▼ -8 days |
| 1996 | 170 days | €3.10 Billion | €18.21 Million/day | €- | €- | ▼ -3 days |
| 1995 | 173 days | €2.55 Billion | €14.78 Million/day | €- | €- | ▼ -4 days |
| 1994 | 177 days | €2.29 Billion | €12.92 Million/day | €- | €- | ▲ +24 days |
| 1991 | 153 days | €2.23 Billion | €14.52 Million/day | €- | €- | ▲ +46 days |
| 1990 | 107 days | €1.72 Billion | €16.05 Million/day | €- | €- | ▼ -27 days |
| 1989 | 135 days | €1.40 Billion | €10.39 Million/day | €- | €- | ▼ -106 days |
| 1988 | 241 days | €1.12 Billion | €4.66 Million/day | €- | €- | ▲ +28 days |
| 1987 | 213 days | €824.59 Million | €3.88 Million/day | €- | €- | — |