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 (TNE2) shareholders funds for net asset value and shareholders' equity analysis.
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. Also explore Telefónica S.A (TNE2) equity growth momentum to track the company's year-over-year net asset growth rate.
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 Telefónica S.A market cap and net worth.
| 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 | — |