Telefonica (TEF) — Free Cash Flow Generation Index
Latest as of June 2026:
0.38x
Telefonica (TEF) has a Free Cash Flow Generation Index of 0.38x as of June 2026. Free cash flow of €803.00 Million represents 0% of operating cash flow (€2.12 Billion). Explore Telefonica capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
0.38x
Free Cash Flow / Operating CF
Free Cash Flow
€803.00 Million
EUR
Operating Cash Flow
€2.12 Billion
EUR
Capital Expenditures
€1.32 Billion
EUR
Telefonica Free Cash Flow Generation Index (1989–2025)
Historical FCF Generation Index trend for Telefonica across 30 annual periods. For the full cash flow conversion analysis, see TEF cash flow metrics.
Annual Free Cash Flow Generation for Telefonica (1989–2025)
Year-by-year Free Cash Flow Generation Index for Telefonica. Check total reinvestment intensity of Telefonica to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (EUR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.48x | €4.67 Billion | €9.72 Billion | €5.05 Billion | ▲ +1.4% |
| 2024 | 0.47x | €5.20 Billion | €10.99 Billion | €5.79 Billion | ▲ +0.5% |
| 2023 | 0.47x | €5.49 Billion | €11.65 Billion | €6.16 Billion | ▼ -3.9% |
| 2022 | 0.49x | €5.30 Billion | €10.81 Billion | €5.51 Billion | ▲ +22.7% |
| 2021 | 0.40x | €4.10 Billion | €10.27 Billion | €6.16 Billion | ▼ -14.6% |
| 2020 | 0.47x | €6.18 Billion | €13.20 Billion | €7.02 Billion | ▲ +6.5% |
| 2019 | 0.44x | €6.59 Billion | €15.01 Billion | €8.41 Billion | ▲ +29.1% |
| 2018 | 0.34x | €4.53 Billion | €13.31 Billion | €8.78 Billion | ▼ -2.2% |
| 2017 | 0.35x | €4.80 Billion | €13.79 Billion | €8.99 Billion | ▲ +11.4% |
| 2016 | 0.31x | €4.18 Billion | €13.36 Billion | €9.19 Billion | ▲ +1.3% |
| 2015 | 0.31x | €4.20 Billion | €13.60 Billion | €9.40 Billion | ▲ +26.5% |
| 2014 | 0.24x | €2.97 Billion | €12.18 Billion | €9.21 Billion | ▼ -23.2% |
| 2013 | 0.32x | €4.51 Billion | €14.18 Billion | €9.67 Billion | ▼ -15.6% |
| 2012 | 0.38x | €5.73 Billion | €15.21 Billion | €9.48 Billion | ▼ -21.6% |
| 2011 | 0.48x | €8.40 Billion | €17.48 Billion | €9.09 Billion | ▲ +3.6% |
| 2010 | 0.46x | €7.73 Billion | €16.67 Billion | €8.94 Billion | ▼ -12.5% |
| 2009 | 0.53x | €8.55 Billion | €16.15 Billion | €7.59 Billion | ▲ +2.2% |
| 2008 | 0.52x | €8.49 Billion | €16.38 Billion | €7.89 Billion | ▼ -2.6% |
| 2007 | 0.53x | €8.28 Billion | €15.55 Billion | €7.27 Billion | ▼ -3.3% |
| 2006 | 0.55x | €8.48 Billion | €15.41 Billion | €6.93 Billion | ▼ -45.0% |
| 2005 | 1.00x | €11.13 Billion | €11.13 Billion | €4.42 Billion | ▲ +0.0% |
| 2004 | 1.00x | €10.18 Billion | €10.18 Billion | €3.17 Billion | ▲ +0.0% |
| 2003 | 1.00x | €9.18 Billion | €9.18 Billion | €2.97 Billion | ▲ +95.8% |
| 2002 | 0.51x | €4.50 Billion | €8.81 Billion | €4.31 Billion | ▲ +119.2% |
| 2001 | 0.23x | €2.06 Billion | €8.83 Billion | €6.77 Billion | ▼ -18.1% |
| 1996 | 0.28x | €1.65 Billion | €5.81 Billion | €4.16 Billion | ▲ +105.6% |
| 1995 | -5.06x | €-3.12 Billion | €616.36 Million | €3.73 Billion | ▼ -1704.9% |
| 1994 | -0.28x | €-1.10 Billion | €3.92 Billion | €5.02 Billion | ▲ +90.0% |
| 1990 | -2.81x | €-4.00 Billion | €1.42 Billion | €5.42 Billion | ▼ -303.1% |
| 1989 | -0.70x | €-1.79 Billion | €2.56 Billion | €4.35 Billion | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).