Telefonica S A annual net debt
2017
2018
2019
2020
2021
2022
2023
2024
2025
Telefonica S A Net Debt Growth & History (TEFOF)
Telefonica S A's net debt was €33.09B for fiscal 2025.
View full Telefonica S A company overviewTelefonica S A annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | €33.09B | €31.61B | +2141.80% |
| 2024 | 2024-12-31 | €1.48B | −€1.72B | −53.85% |
| 2023 | 2023-12-31 | €3.20B | €225.0M | +7.57% |
| 2022 | 2022-12-31 | €2.97B | −€26.86B | −90.03% |
| 2021 | 2021-12-31 | €29.83B | −€8.74B | −22.66% |
| 2020 | 2020-12-31 | €38.57B | −€4.61B | −10.67% |
| 2019 | 2019-12-31 | €43.18B | €4.14B | +10.61% |
| 2018 | 2018-12-31 | €39.04B | −€3.15B | −7.46% |
| 2017 | 2017-12-31 | €42.18B | — | — |
Telefonica S A quarterly net debt
Q4.17
Q4.18
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | €2.77B | €1.73B | +166.47% |
| Q4 2025 | 2025-12-31 | €33.09B | €31.61B | +2141.80% |
| Q3 2025 | 2025-09-30 | €3.31B | — | — |
| Q2 2025 | 2025-06-30 | €1.04B | — | — |
| Q1 2025 | 2025-03-31 | €733.0M | — | — |
| Q4 2024 | 2024-12-31 | €1.48B | −€1.72B | −53.85% |
| Q4 2023 | 2023-12-31 | €3.20B | €225.0M | +7.57% |
| Q4 2022 | 2022-12-31 | €2.97B | −€26.86B | −90.03% |
| Q4 2021 | 2021-12-31 | €29.83B | −€8.74B | −22.66% |
| Q4 2020 | 2020-12-31 | €38.57B | −€4.61B | −10.67% |
| Q4 2019 | 2019-12-31 | €43.18B | €4.14B | +10.61% |
| Q4 2018 | 2018-12-31 | €39.04B | −€3.15B | −7.46% |
| Q4 2017 | 2017-12-31 | €42.18B | — | — |
Telefonica S A net debt trends
Over the last five fiscal years, Telefonica S A's net debt decreased from €38.57B to €33.09B, a change of −€5.48B. The latest reported quarter, Q2 2026, shows €2.77B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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