KONINKLIJKE KPN NV (KPN.AS) Fundamental Analysis & Valuation

AMS:KPN • NL0000009082

4.721 EUR
-0.05 (-1.03%)
Last: Mar 4, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This KPN.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Taking everything into account, KPN scores 4 out of 10 in our fundamental rating. KPN was compared to 30 industry peers in the Diversified Telecommunication Services industry. KPN scores excellent on profitability, but there are concerns on its financial health. KPN does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

8

1. KPN.AS Profitability Analysis

1.1 Basic Checks

  • KPN had positive earnings in the past year.
  • In the past year KPN had a positive cash flow from operations.
  • Of the past 5 years KPN 4 years were profitable.
  • Of the past 5 years KPN 4 years had a positive operating cash flow.
KPN.AS Yearly Net Income VS EBIT VS OCF VS FCFKPN.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

1.2 Ratios

  • KPN has a Return On Assets of 6.43%. This is in the better half of the industry: KPN outperforms 80.00% of its industry peers.
  • The Return On Equity of KPN (23.51%) is better than 83.33% of its industry peers.
  • The Return On Invested Capital of KPN (10.05%) is better than 83.33% of its industry peers.
  • KPN had an Average Return On Invested Capital over the past 3 years of 10.15%. This is in line with the industry average of 8.35%.
Industry RankSector Rank
ROA 6.43%
ROE 23.51%
ROIC 10.05%
ROA(3y)6.38%
ROA(5y)6.75%
ROE(3y)21.85%
ROE(5y)25.23%
ROIC(3y)10.15%
ROIC(5y)9.14%
KPN.AS Yearly ROA, ROE, ROICKPN.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • KPN has a Profit Margin of 14.24%. This is amongst the best in the industry. KPN outperforms 83.33% of its industry peers.
  • In the last couple of years the Profit Margin of KPN has grown nicely.
  • Looking at the Operating Margin, with a value of 25.11%, KPN belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
  • In the last couple of years the Operating Margin of KPN has grown nicely.
  • KPN has a Gross Margin of 78.55%. This is amongst the best in the industry. KPN outperforms 83.33% of its industry peers.
  • KPN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 25.11%
PM (TTM) 14.24%
GM 78.55%
OM growth 3Y7.85%
OM growth 5Y7.45%
PM growth 3Y-16.33%
PM growth 5Y4.6%
GM growth 3Y1.42%
GM growth 5Y0.59%
KPN.AS Yearly Profit, Operating, Gross MarginsKPN.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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2

2. KPN.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), KPN is creating some value.
  • There is no outstanding debt for KPN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
KPN.AS Yearly Shares OutstandingKPN.AS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
KPN.AS Yearly Total Debt VS Total AssetsKPN.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • Based on the Altman-Z score of 1.41, we must say that KPN is in the distress zone and has some risk of bankruptcy.
  • With a decent Altman-Z score value of 1.41, KPN is doing good in the industry, outperforming 70.00% of the companies in the same industry.
  • KPN has a debt to FCF ratio of 7.79. This is a slightly negative value and a sign of low solvency as KPN would need 7.79 years to pay back of all of its debts.
  • KPN's Debt to FCF ratio of 7.79 is in line compared to the rest of the industry. KPN outperforms 60.00% of its industry peers.
  • KPN has a Debt/Equity ratio of 2.03. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 2.03, KPN is not doing good in the industry: 76.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.03
Debt/FCF 7.79
Altman-Z 1.41
ROIC/WACC1.64
WACC6.12%
KPN.AS Yearly LT Debt VS Equity VS FCFKPN.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 0.72 indicates that KPN may have some problems paying its short term obligations.
  • With a Current ratio value of 0.72, KPN is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
  • KPN has a Quick Ratio of 0.72. This is a bad value and indicates that KPN is not financially healthy enough and could expect problems in meeting its short term obligations.
  • KPN has a Quick ratio of 0.70. This is in the lower half of the industry: KPN underperforms 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.7
KPN.AS Yearly Current Assets VS Current LiabilitesKPN.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. KPN.AS Growth Analysis

3.1 Past

  • KPN shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -5.25%.
  • The Earnings Per Share has been growing slightly by 3.14% on average over the past years.
EPS 1Y (TTM)-5.25%
EPS 3Y3.14%
EPS 5YN/A
EPS Q2Q%-2.57%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%2.7%

3.2 Future

  • KPN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.67% yearly.
  • Based on estimates for the next years, KPN will show a small growth in Revenue. The Revenue will grow by 1.10% on average per year.
EPS Next Y24.84%
EPS Next 2Y14.75%
EPS Next 3Y14.13%
EPS Next 5Y12.67%
Revenue Next Year1.55%
Revenue Next 2Y1.77%
Revenue Next 3Y1.7%
Revenue Next 5Y1.1%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
KPN.AS Yearly Revenue VS EstimatesKPN.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B
KPN.AS Yearly EPS VS EstimatesKPN.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3

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3

4. KPN.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 22.48, which indicates a rather expensive current valuation of KPN.
  • Compared to the rest of the industry, the Price/Earnings ratio of KPN is on the same level as its industry peers.
  • KPN's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.03.
  • The Price/Forward Earnings ratio is 18.14, which indicates a rather expensive current valuation of KPN.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of KPN indicates a slightly more expensive valuation: KPN is more expensive than 60.00% of the companies listed in the same industry.
  • KPN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.11, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 22.48
Fwd PE 18.14
KPN.AS Price Earnings VS Forward Price EarningsKPN.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, KPN is valued a bit more expensive than 60.00% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of KPN indicates a slightly more expensive valuation: KPN is more expensive than 63.33% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 20.12
EV/EBITDA 9.08
KPN.AS Per share dataKPN.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.5 1

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • KPN has an outstanding profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as KPN's earnings are expected to grow with 14.13% in the coming years.
PEG (NY)0.9
PEG (5Y)N/A
EPS Next 2Y14.75%
EPS Next 3Y14.13%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. KPN.AS Dividend Analysis

5.1 Amount

  • KPN has a Yearly Dividend Yield of 3.89%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 3.04, KPN has a dividend in line with its industry peers.
  • KPN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.89%

5.2 History

  • On average, the dividend of KPN grows each year by 6.22%, which is quite nice.
Dividend Growth(5Y)6.22%
Div Incr Years6
Div Non Decr Years6
KPN.AS Yearly Dividends per shareKPN.AS Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.05 0.1 0.15

5.3 Sustainability

  • 82.58% of the earnings are spent on dividend by KPN. This is not a sustainable payout ratio.
  • KPN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP82.58%
EPS Next 2Y14.75%
EPS Next 3Y14.13%
KPN.AS Yearly Income VS Free CF VS DividendKPN.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
KPN.AS Dividend Payout.KPN.AS Dividend Payout, showing the Payout Ratio.KPN.AS Dividend Payout.PayoutRetained Earnings

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KPN.AS Fundamentals: All Metrics, Ratios and Statistics

KONINKLIJKE KPN NV

AMS:KPN (3/4/2026, 5:36:15 PM)

4.721

-0.05 (-1.03%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)01-28
Earnings (Next)04-22
Inst Owners69.49%
Inst Owner ChangeN/A
Ins Owners0.11%
Ins Owner ChangeN/A
Market Cap18.07B
Revenue(TTM)N/A
Net Income(TTM)798.00M
Analysts71.67
Price Target4.54 (-3.83%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.89%
Yearly Dividend0.17
Dividend Growth(5Y)6.22%
DP82.58%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-24.07%
Min EPS beat(2)-27.99%
Max EPS beat(2)-20.15%
EPS beat(4)2
Avg EPS beat(4)-7.86%
Min EPS beat(4)-27.99%
Max EPS beat(4)10.01%
EPS beat(8)5
Avg EPS beat(8)-3.21%
EPS beat(12)9
Avg EPS beat(12)4.15%
EPS beat(16)13
Avg EPS beat(16)9.26%
Revenue beat(2)1
Avg Revenue beat(2)0.41%
Min Revenue beat(2)-0.91%
Max Revenue beat(2)1.73%
Revenue beat(4)2
Avg Revenue beat(4)-0.05%
Min Revenue beat(4)-1.16%
Max Revenue beat(4)1.73%
Revenue beat(8)3
Avg Revenue beat(8)-0.1%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.95%
PT rev (3m)2.09%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0.11%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)-0.02%
Valuation
Industry RankSector Rank
PE 22.48
Fwd PE 18.14
P/S 3.22
P/FCF 20.12
P/OCF 8.35
P/B 5.32
P/tB 75.92
EV/EBITDA 9.08
EPS(TTM)0.21
EY4.45%
EPS(NY)0.26
Fwd EY5.51%
FCF(TTM)0.23
FCFY4.97%
OCF(TTM)0.57
OCFY11.98%
SpS1.46
BVpS0.89
TBVpS0.06
PEG (NY)0.9
PEG (5Y)N/A
Graham Number2.05
Profitability
Industry RankSector Rank
ROA 6.43%
ROE 23.51%
ROCE 12.99%
ROIC 10.05%
ROICexc 10.4%
ROICexgc 14.86%
OM 25.11%
PM (TTM) 14.24%
GM 78.55%
FCFM 16.03%
ROA(3y)6.38%
ROA(5y)6.75%
ROE(3y)21.85%
ROE(5y)25.23%
ROIC(3y)10.15%
ROIC(5y)9.14%
ROICexc(3y)10.93%
ROICexc(5y)9.93%
ROICexgc(3y)15.72%
ROICexgc(5y)14.55%
ROCE(3y)13.12%
ROCE(5y)11.8%
ROICexgc growth 3Y10.82%
ROICexgc growth 5Y5.54%
ROICexc growth 3Y10.74%
ROICexc growth 5Y6.37%
OM growth 3Y7.85%
OM growth 5Y7.45%
PM growth 3Y-16.33%
PM growth 5Y4.6%
GM growth 3Y1.42%
GM growth 5Y0.59%
F-Score8
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 2.03
Debt/FCF 7.79
Debt/EBITDA 2.52
Cap/Depr 95.84%
Cap/Sales 22.6%
Interest Coverage 4.94
Cash Conversion 79.33%
Profit Quality 112.53%
Current Ratio 0.72
Quick Ratio 0.7
Altman-Z 1.41
F-Score8
WACC6.12%
ROIC/WACC1.64
Cap/Depr(3y)99.71%
Cap/Depr(5y)96.69%
Cap/Sales(3y)23.04%
Cap/Sales(5y)24.4%
Profit Quality(3y)124.87%
Profit Quality(5y)106.46%
High Growth Momentum
Growth
EPS 1Y (TTM)-5.25%
EPS 3Y3.14%
EPS 5YN/A
EPS Q2Q%-2.57%
EPS Next Y24.84%
EPS Next 2Y14.75%
EPS Next 3Y14.13%
EPS Next 5Y12.67%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%2.7%
Revenue Next Year1.55%
Revenue Next 2Y1.77%
Revenue Next 3Y1.7%
Revenue Next 5Y1.1%
EBIT growth 1Y3.53%
EBIT growth 3Y10.18%
EBIT growth 5Y7.9%
EBIT Next Year96.12%
EBIT Next 3Y27.3%
EBIT Next 5Y15.79%
FCF growth 1Y-3.96%
FCF growth 3Y1.56%
FCF growth 5Y1.25%
OCF growth 1Y-0.96%
OCF growth 3Y2.1%
OCF growth 5Y2.44%

KONINKLIJKE KPN NV / KPN.AS FAQ

Can you provide the ChartMill fundamental rating for KONINKLIJKE KPN NV?

ChartMill assigns a fundamental rating of 4 / 10 to KPN.AS.


What is the valuation status of KONINKLIJKE KPN NV (KPN.AS) stock?

ChartMill assigns a valuation rating of 3 / 10 to KONINKLIJKE KPN NV (KPN.AS). This can be considered as Overvalued.


How profitable is KONINKLIJKE KPN NV (KPN.AS) stock?

KONINKLIJKE KPN NV (KPN.AS) has a profitability rating of 8 / 10.


How financially healthy is KONINKLIJKE KPN NV?

The financial health rating of KONINKLIJKE KPN NV (KPN.AS) is 2 / 10.


What is the expected EPS growth for KONINKLIJKE KPN NV (KPN.AS) stock?

The Earnings per Share (EPS) of KONINKLIJKE KPN NV (KPN.AS) is expected to grow by 24.84% in the next year.