Telefonica (TEF) — Defensive Interval Ratio

Latest as of March 2026: 38 days

Telefonica (TEF) has a Defensive Interval Ratio of 38 days as of March 2026. Defensive assets of €2.43 Billion (cash €-, short-term investments €1.43 Billion, receivables €1.00 Billion) cover 38 days of daily cash needs of €63.38 Million/day. See how liquid is Telefonica's working capital to evaluate short-term liquidity relative to the company's equity base.

Defensive Interval Ratio

38 days
Days of operational coverage

Defensive Assets

€2.43 Billion
Cash + ST Investments + Receivables

Daily Cash Need

€63.38 Million
Current Liabilities ÷ 365

Current Liabilities

€23.13 Billion
EUR

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 March 2026, the ratio stands at 38 days, meaning defensive assets of €2.43 Billion can fund 38 days of operations without new revenue. See Telefonica balance sheet independence to measure how much of total assets are equity-financed.

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. For live market cap and the full company financial profile, see Telefonica (TEF) total market value.

Year DIR (days) Defensive Assets (EUR) Daily Cash Need Cash ST Investments Change (days)
2025 26 days €1.74 Billion €68.05 Million/day €- €870.00 Million ▼ -119 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 €- €- —
DIR = (Cash + Short-term Investments + Net Receivables) / (Daily Cash Expenses)