Telefonica (TEF) — Financial Flexibility Index

Latest as of June 2026: 0.04x

Telefonica (TEF) has a Financial Flexibility Index of 0.04x as of June 2026. Free cash flow of €3.44 Billion (operating CF €2.12 Billion minus capex €1.32 Billion) represents 0% of total liabilities (€77.83 Billion). Check Telefonica cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.

Financial Flexibility Index

0.04x
Free Cash Flow / Total Liabilities

Free Cash Flow

€3.44 Billion
Operating CF − Capex

Total Liabilities

€77.83 Billion
EUR

Capital Expenditures

€1.32 Billion
EUR

Telefonica Financial Flexibility Index (1989–2025)

Historical Financial Flexibility Index trend for Telefonica across 30 annual periods. For the full cash flow conversion analysis, see how efficiently does Telefonica generate cash.

Annual Financial Flexibility Index for Telefonica (1989–2025)

Year-by-year free cash flow to debt coverage for Telefonica. Explore Telefonica (TEF) debt coverage ratio to assess how comfortably operating cash covers total debt obligations.

Year Flexibility Index Free Cash Flow (EUR) Operating CF Total Liabilities YoY Change
2025 0.20x €14.78 Billion €9.72 Billion €74.21 Billion ▼ -7.8%
2024 0.22x €16.78 Billion €10.99 Billion €77.75 Billion ▼ -6.4%
2023 0.23x €17.81 Billion €11.65 Billion €77.23 Billion ▲ +10.2%
2022 0.21x €16.32 Billion €10.81 Billion €77.93 Billion ▲ +2.6%
2021 0.20x €16.43 Billion €10.27 Billion €80.53 Billion ▼ -12.4%
2020 0.23x €20.22 Billion €13.20 Billion €86.79 Billion ▼ -7.1%
2019 0.25x €23.41 Billion €15.01 Billion €93.43 Billion ▼ -1.2%
2018 0.25x €22.09 Billion €13.31 Billion €87.07 Billion ▼ -1.5%
2017 0.26x €22.79 Billion €13.79 Billion €88.45 Billion ▲ +8.8%
2016 0.24x €22.55 Billion €13.36 Billion €95.26 Billion ▼ -1.8%
2015 0.24x €23.00 Billion €13.60 Billion €95.42 Billion ▲ +3.7%
2014 0.23x €21.38 Billion €12.18 Billion €92.01 Billion ▼ -11.0%
2013 0.26x €23.86 Billion €14.18 Billion €91.38 Billion ▲ +8.0%
2012 0.24x €24.70 Billion €15.21 Billion €102.11 Billion ▼ -6.9%
2011 0.26x €26.57 Billion €17.48 Billion €102.24 Billion ▼ -0.5%
2010 0.26x €25.62 Billion €16.67 Billion €98.09 Billion ▼ -7.7%
2009 0.28x €23.74 Billion €16.15 Billion €83.87 Billion ▼ -6.3%
2008 0.30x €24.27 Billion €16.38 Billion €80.33 Billion ▲ +9.9%
2007 0.27x €22.82 Billion €15.55 Billion €83.02 Billion ▲ +9.5%
2006 0.25x €22.35 Billion €15.41 Billion €88.98 Billion ▼ -8.0%
2005 0.27x €15.55 Billion €11.13 Billion €56.97 Billion ▼ -11.2%
2004 0.31x €13.35 Billion €10.18 Billion €43.43 Billion ▲ +3.3%
2003 0.30x €12.15 Billion €9.18 Billion €40.82 Billion ▲ +3.0%
2002 0.29x €13.13 Billion €8.81 Billion €45.43 Billion ▼ -1.6%
2001 0.29x €15.61 Billion €8.83 Billion €53.15 Billion ▼ -42.3%
1996 0.51x €9.97 Billion €5.81 Billion €19.58 Billion ▲ +121.8%
1995 0.23x €4.35 Billion €616.36 Million €18.95 Billion ▼ -48.4%
1994 0.44x €8.95 Billion €3.92 Billion €20.12 Billion ▼ -0.9%
1990 0.45x €6.85 Billion €1.42 Billion €15.27 Billion ▼ -18.8%
1989 0.55x €6.91 Billion €2.56 Billion €12.51 Billion —
Financial Flexibility Index = (Operating CF − Capex) / Total Liabilities = Free Cash Flow / Total Liabilities