To estimate the Net Debt / EBITDA ratio based on the standard S&P (Capital IQ) methodology, we rely on the standardized formulas for Total Debt, Net Debt, and EBITDA using the provided financial facts.

**1. EBITDA (S&P Calculated):**
S&P typically calculates EBITDA as Operating Income (EBIT) plus Depreciation and Amortization (D&A). 
* Operating Income ("Profit Loss From Operating Activities") = 7,984,000,000 EUR
* D&A ("Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss") = 4,774,000,000 EUR
* **EBITDA** = 7,984,000,000 + 4,774,000,000 = **12,758,000,000 EUR**

**2. Total Debt:**
Total Debt consists of Short-Term Borrowings, Long-Term Debt, and Capital Leases (current and non-current portions). 
* Long-Term Debt ("Deudas Con Entidades De Credito Y Obligaciones U Otros Valores Negociables") = 36,129,000,000 EUR
* Short-Term Debt ("Deudas Con Entidades De Credito Y Obligaciones U Otros Valores Negociables Corrientes") = 10,458,000,000 EUR
* Non-current Lease Liabilities = 2,287,000,000 EUR
* Current Lease Liabilities = 151,000,000 EUR
* **Total Debt** = 36,129,000,000 + 10,458,000,000 + 2,287,000,000 + 151,000,000 = **49,025,000,000 EUR**

**3. Cash and Short-Term Investments:**
S&P Capital IQ defines this as Cash and Cash Equivalents plus Short-Term Investments (which excludes derivative assets).
* Cash and Cash Equivalents = 4,608,000,000 EUR
* Short-Term Investments ("Other Current Financial Assets", isolating the non-derivative current financial investments) = 2,964,000,000 EUR
* **Total Cash & ST Investments** = 4,608,000,000 + 2,964,000,000 = **7,572,000,000 EUR**

**4. Net Debt:**
* **Net Debt** = Total Debt - Cash & ST Investments = 49,025,000,000 - 7,572,000,000 = **41,453,000,000 EUR**

**5. Net Debt / EBITDA Ratio:**
* **Ratio** = 41,453,000,000 / 12,758,000,000 = 3.24917...

<answer>3.25</answer>