Telefónica, S.A. (TEF) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | 2.44B | 2.9B | 1.84B | 3.87B | 2.75B | 2.62B | 2.23B | 3.55B | 3.23B | 2.99B | 2.3B | 4.17B | 2.86B | 2.94B | 2B | 2.72B | 2.43B | 2.56B | 2.56B | 5.15B |
| Operating CF Margin % | 26.11% | 32.98% | 19.92% | 35.55% | 27.4% | 25.51% | 22.02% | 34.95% | 31.3% | 29.49% | 22.91% | 40.83% | 27.64% | 29.32% | 21.29% | 28.16% | 26.16% | 25.65% | 24.72% | 47.19% |
| Operating CF Growth % | -11.01% | 10.81% | -17.73% | 9.18% | -15% | -12.43% | -2.96% | -14.81% | 13.01% | 1.5% | 14.88% | 52.9% | 17.56% | 15.17% | -21.64% | -47.09% | -41.54% | -22.81% | 13.15% | 29.88% |
| Net Income | 316.68M | 149.73M | 0 | 0 | 10.99M | 495.21M | 0 | -2.32B | 547.18M | 0 | 0 | 0 | 0 | 340.56M | 0 | -1.2B | 0 | 0 | 0 | 1.02B |
| Depreciation & Amortization | 2.24B | 2.08B | 0 | 0 | 2.42B | 2.07B | 0 | 2.34B | 2.47B | 0 | 0 | 0 | 0 | 2.37B | 0 | 2.1B | 0 | 0 | 0 | 2.72B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -111.79M | 665.87M | 1.84B | 3.87B | 311.87M | 48.99M | 2.23B | 3.52B | 212.14M | 2.99B | 2.3B | 4.17B | 2.86B | 233.04M | 2B | 1.82B | 2.43B | 2.56B | 2.56B | 1.41B |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -1.47B | -2.34B | -1.73B | -463M | -723.69M | -2.28B | -1.99B | -1.18B | -2.18B | -967M | -184M | -2.76B | -937M | -2.29B | 452M | -1.35B | -1.36B | 10.74B | -2.13B | -2.82B |
| Capital Expenditures | -1.58B | -2.34B | -1.41B | -1.72B | -1.04B | -2.28B | -1.41B | -1.38B | -1.61B | -1.64B | -1.39B | -2.76B | -1.64B | -2.05B | -1.1B | -1.58B | -1.68B | 10.74B | -2.18B | -2.73B |
| CapEx % of Revenue | 16.88% | 26.62% | 15.27% | 15.75% | 10.4% | 22.26% | 13.89% | 13.56% | 15.6% | 16.18% | 13.88% | 27.08% | 15.89% | 20.39% | 11.73% | 16.37% | 18.1% | 107.78% | 21.12% | 25.01% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -314.01M | -154.15M | -1.33B | 1.09B | -671.87M | 416.87M | -559M | 1.85B | -606.81M | 708M | 262M | 140M | 257M | -2.5B | 1.47B | 184M | 739M | -1.04B | 16M | 3.57B |
| Cash from Financing | -3.33B | -1.05B | -1.07B | -1.57B | -875.77M | -1.4B | -1B | -2.92B | -355.85M | -2.07B | -2.03B | -1.29B | -1.09B | -2.5B | -3.18B | -2.63B | -5.65B | -3.83B | -886M | -2.8B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -353.52M | -85.69M | -88M | 0 | -244.41M | -250.27M | -899M | -916.83M | -119.34M | -52M | -635M | 0 | -217M | -114.04M | -119M | -243M | -249M | -96M | -16M | 352.53M |
| Dividends Paid | -244.38M | -801.08M | -119M | -664M | -251.07M | -776.99M | -144M | -815.47M | -245.31M | -996M | -145M | -723M | -132M | -382.36M | -38M | 2M | -42M | -446M | -52M | -530.63M |
| Share Repurchases | -147.33M | -85.69M | -88M | 0 | -181.56M | -250.27M | -899M | -915.25M | -119.83M | -52M | -635M | 0 | -217M | -114.04M | -119M | -243M | -249M | -96M | -16M | -17.3M |
| Other Financing | -601.72M | -867.05M | -78M | -495M | -338.97M | -577.23M | -122M | -1.36B | -59.1M | -121M | -44M | 557M | -102M | -790.21M | -346M | -3.21B | -404M | -105M | 0 | -904.42M |
| Net Change in Cash | -2.48B | 10.76M | -1B | 1.74B | 1.41B | -1.26B | -725M | -379.01M | 324.98M | -47M | 92M | -30M | 890M | -2.35B | -468M | -1.21B | -4.73B | 9.58B | -664M | -77.11M |
| Free Cash Flow | 864.18M | 559.05M | 429M | 2.16B | 1.7B | 333.61M | 825M | 2.17B | 1.62B | 1.35B | 907M | 1.4B | 1.47B | 896.24M | 899M | 1.14B | 749M | 13.3B | 372M | 2.42B |
| FCF Margin % | 9.23% | 6.36% | 4.65% | 19.8% | 17% | 3.25% | 8.14% | 21.38% | 15.7% | 13.3% | 9.03% | 13.75% | 14.23% | 8.93% | 9.55% | 11.78% | 8.06% | 133.43% | 3.6% | 22.18% |
| FCF Growth % | -49.29% | 67.58% | -48% | -0.6% | 5.14% | -75.25% | -9.04% | 54.75% | 10.11% | 50.41% | 0.89% | 23.07% | 96.53% | -93.26% | 141.67% | -52.88% | 158.47% | 845.04% | -27.06% | -9.88% |
| FCF per Share | 0.15 | 0.10 | 0.08 | 0.38 | 0.30 | 0.06 | 0.15 | 0.38 | 0.29 | 0.24 | 0.16 | 0.25 | 0.26 | 0.16 | 0.16 | 0.20 | 0.12 | 2.18 | 0.06 | 0.45 |
| FCF Conversion (FCF/Net Income) | 8.85x | -56.85x | -1.41x | -3.73x | 274.62x | 5.85x | 4.20x | -1.65x | 6.44x | 6.47x | 7.72x | 7.93x | 6.22x | 9.20x | 2.84x | -2.27x | 3.44x | 0.33x | 2.88x | 5.65x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |