Telefónica S.A (TEFN) — Working Capital to Net Assets Ratio
Telefónica S.A (TEFN) has a Working Capital to Net Assets ratio of -16.6% as of September 2025. Working capital of MX$-3.54 Billion (current assets of MX$18.99 Billion minus current liabilities of MX$22.52 Billion) is measured against net assets of MX$21.34 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See TEFN financial flexibility score to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Telefónica S.A Working Capital to Net Assets (2013–2024)
This chart shows how Telefónica S.A's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2013 to 2024. As of September 2025, the ratio stands at -16.6%, reflecting working capital of MX$-3.54 Billion against net assets of MX$21.34 Billion MXN. See Telefónica S.A (TEFN) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Telefónica S.A (2013–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Telefónica S.A from 2013 to 2024, covering 12 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Telefónica S.A market cap and net worth.
| Year | WC/NA Ratio | Working Capital (MXN) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -14.8% | MX$-3.37 Billion | MX$22.75 Billion | MX$22.37 Billion | MX$25.73 Billion | ▼ -5.0 pp |
| 2023 | -9.8% | MX$-2.64 Billion | MX$27.10 Billion | MX$20.76 Billion | MX$23.40 Billion | ▼ -8.1 pp |
| 2022 | -1.6% | MX$-511.00 Million | MX$31.71 Billion | MX$22.59 Billion | MX$23.10 Billion | ▲ +0.4 pp |
| 2021 | -2.0% | MX$-566.00 Million | MX$28.68 Billion | MX$24.93 Billion | MX$25.50 Billion | ▼ -32.3 pp |
| 2020 | 30.3% | MX$5.54 Billion | MX$18.26 Billion | MX$33.66 Billion | MX$28.12 Billion | ▲ +53.4 pp |
| 2019 | -23.0% | MX$-5.86 Billion | MX$25.45 Billion | MX$24.33 Billion | MX$30.19 Billion | ▲ +0.3 pp |
| 2018 | -23.4% | MX$-6.31 Billion | MX$26.98 Billion | MX$23.34 Billion | MX$29.65 Billion | ▲ +10.9 pp |
| 2017 | -34.3% | MX$-9.13 Billion | MX$26.62 Billion | MX$19.93 Billion | MX$29.07 Billion | ▲ +20.2 pp |
| 2016 | -54.5% | MX$-15.48 Billion | MX$28.39 Billion | MX$19.97 Billion | MX$35.45 Billion | ▲ +7.1 pp |
| 2015 | -61.6% | MX$-15.67 Billion | MX$25.44 Billion | MX$18.71 Billion | MX$34.38 Billion | ▼ -39.1 pp |
| 2014 | -22.5% | MX$-6.81 Billion | MX$30.32 Billion | MX$22.90 Billion | MX$29.71 Billion | ▼ -22.9 pp |
| 2013 | 0.4% | MX$121.00 Million | MX$27.48 Billion | MX$29.27 Billion | MX$29.14 Billion | — |