Telefónica S.A (TNE2) — Tangible Net Worth Ratio
Telefónica S.A (TNE2) has a Tangible Net Worth Ratio of 48.8% as of December 2025. This metric is calculated by deducting intangible assets (€9.11 Billion) from net assets (€17.81 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Telefónica S.A current assets vs equity to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Telefónica S.A Tangible Net Worth Ratio (2016–2025)
This chart shows how Telefónica S.A's Tangible Net Worth Ratio has changed across 10 annual periods from 2016 to 2025. As of December 2025, the ratio stands at 48.8%, reflecting net assets of €17.81 Billion with intangible assets of €9.11 Billion EUR. See Telefónica S.A (TNE2) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Telefónica S.A (2016–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Telefónica S.A from 2016 to 2025, covering 10 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see TNE2 stock market capitalisation.
| Year | Tangible NW Ratio | Net Assets (EUR) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 48.8% | €17.81 Billion | €9.11 Billion | €92.02 Billion | ▼ -7.8 pp |
| 2024 | 56.6% | €22.75 Billion | €9.88 Billion | €100.50 Billion | ▼ -1.4 pp |
| 2023 | 58.0% | €27.10 Billion | €11.37 Billion | €104.32 Billion | ▼ -4.1 pp |
| 2022 | 62.1% | €31.71 Billion | €12.02 Billion | €109.64 Billion | ▲ +3.0 pp |
| 2021 | 59.1% | €28.68 Billion | €11.72 Billion | €109.21 Billion | ▲ +22.0 pp |
| 2020 | 37.1% | €18.26 Billion | €11.49 Billion | €105.05 Billion | ▲ +0.1 pp |
| 2019 | 37.0% | €25.45 Billion | €16.03 Billion | €118.88 Billion | ▼ -0.5 pp |
| 2018 | 37.5% | €26.98 Billion | €16.86 Billion | €114.05 Billion | ▲ +5.2 pp |
| 2017 | 32.4% | €26.62 Billion | €18.00 Billion | €115.07 Billion | ▲ +4.6 pp |
| 2016 | 27.7% | €28.39 Billion | €20.52 Billion | €123.64 Billion | — |