Telefonica (TEF) — Free Cash Flow Generation Index
Latest as of December 2025:
0.68x
Telefonica (TEF) has a Free Cash Flow Generation Index of 0.68x as of December 2025. Free cash flow of €2.22 Billion represents 1% of operating cash flow (€3.26 Billion). See TEF current assets to equity ratio to evaluate short-term liquidity relative to the company's equity base.
FCF Generation Index
0.68x
Free Cash Flow / Operating CF
Free Cash Flow
€2.22 Billion
EUR
Operating Cash Flow
€3.26 Billion
EUR
Capital Expenditures
€1.04 Billion
EUR
Telefonica Free Cash Flow Generation Index (1989–2025)
Historical FCF Generation Index trend for Telefonica across 30 annual periods. Explore Telefonica debt service capacity to assess how comfortably operating cash covers total debt obligations.
Annual Free Cash Flow Generation for Telefonica (1989–2025)
Year-by-year Free Cash Flow Generation Index for Telefonica. For the full company profile including market capitalisation, see TEF company net worth.
| 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).