TELENOR ASA (TEL.OL) Stock Fundamental Analysis
OSL:TEL • NO0010063308
174.2 NOK
-1.8 (-1.02%)
Last: Feb 20, 2026, 07:00 PM
Overall TEL gets a fundamental rating of 4 out of 10. We evaluated TEL against 33 industry peers in the Diversified Telecommunication Services industry. TEL has a medium profitability rating, but doesn't score so well on its financial health evaluation. TEL has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
- In the past year TEL was profitable.
- TEL had a positive operating cash flow in the past year.
- TEL had positive earnings in each of the past 5 years.
- In the past 5 years TEL always reported a positive cash flow from operatings.
1.2 Ratios
- Looking at the Return On Assets, with a value of 3.69%, TEL is in line with its industry, outperforming 45.45% of the companies in the same industry.
- TEL's Return On Equity of 11.43% is in line compared to the rest of the industry. TEL outperforms 57.58% of its industry peers.
- The Return On Invested Capital of TEL (8.51%) is better than 78.79% of its industry peers.
- TEL had an Average Return On Invested Capital over the past 3 years of 7.95%. This is in line with the industry average of 8.33%.
- The last Return On Invested Capital (8.51%) for TEL is above the 3 year average (7.95%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.69% | ||
| ROE | 11.43% | ||
| ROIC | 8.51% |
ROA(3y)6%
ROA(5y)7.49%
ROE(3y)18.97%
ROE(5y)27.48%
ROIC(3y)7.95%
ROIC(5y)8.24%
1.3 Margins
- TEL's Profit Margin of 10.21% is fine compared to the rest of the industry. TEL outperforms 66.67% of its industry peers.
- In the last couple of years the Profit Margin of TEL has declined.
- TEL has a Operating Margin of 23.73%. This is amongst the best in the industry. TEL outperforms 87.88% of its industry peers.
- In the last couple of years the Operating Margin of TEL has remained more or less at the same level.
- TEL has a Gross Margin of 78.07%. This is in the better half of the industry: TEL outperforms 78.79% of its industry peers.
- In the last couple of years the Gross Margin of TEL has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.73% | ||
| PM (TTM) | 10.21% | ||
| GM | 78.07% |
OM growth 3Y-0.78%
OM growth 5Y1.02%
PM growth 3Y-43.22%
PM growth 5Y-6.51%
GM growth 3Y0.28%
GM growth 5Y0.67%
2. Health
2.1 Basic Checks
- TEL has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- TEL has about the same amout of shares outstanding than it did 1 year ago.
- Compared to 5 years ago, TEL has less shares outstanding
- The debt/assets ratio for TEL is higher compared to a year ago.
2.2 Solvency
- The Debt to FCF ratio of TEL is 5.12, which is a neutral value as it means it would take TEL, 5.12 years of fcf income to pay off all of its debts.
- With an excellent Debt to FCF ratio value of 5.12, TEL belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
- TEL has a Debt/Equity ratio of 1.20. This is a high value indicating a heavy dependency on external financing.
- TEL has a Debt to Equity ratio of 1.20. This is comparable to the rest of the industry: TEL outperforms 48.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.2 | ||
| Debt/FCF | 5.12 | ||
| Altman-Z | N/A |
ROIC/WACC1.29
WACC6.62%
2.3 Liquidity
- A Current Ratio of 0.71 indicates that TEL may have some problems paying its short term obligations.
- TEL's Current ratio of 0.71 is on the low side compared to the rest of the industry. TEL is outperformed by 63.64% of its industry peers.
- A Quick Ratio of 0.69 indicates that TEL may have some problems paying its short term obligations.
- TEL has a worse Quick ratio (0.69) than 66.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.69 |
3. Growth
3.1 Past
- The earnings per share for TEL have decreased strongly by -38.57% in the last year.
- Measured over the past years, TEL shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.48% on average per year.
- The Revenue has been growing slightly by 0.30% in the past year.
- The Revenue has been decreasing by -7.95% on average over the past years.
EPS 1Y (TTM)-38.57%
EPS 3Y-7.97%
EPS 5Y-5.48%
EPS Q2Q%44.07%
Revenue 1Y (TTM)0.3%
Revenue growth 3Y-0.14%
Revenue growth 5Y-7.95%
Sales Q2Q%-3.19%
3.2 Future
- The Earnings Per Share is expected to grow by 12.07% on average over the next years. This is quite good.
- Based on estimates for the next years, TEL will show a small growth in Revenue. The Revenue will grow by 0.58% on average per year.
EPS Next Y22.26%
EPS Next 2Y16.68%
EPS Next 3Y7.73%
EPS Next 5Y12.07%
Revenue Next Year0.48%
Revenue Next 2Y1.06%
Revenue Next 3Y1.01%
Revenue Next 5Y0.58%
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.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 21.14, TEL is valued on the expensive side.
- Compared to the rest of the industry, the Price/Earnings ratio of TEL is on the same level as its industry peers.
- When comparing the Price/Earnings ratio of TEL to the average of the S&P500 Index (26.99), we can say TEL is valued slightly cheaper.
- TEL is valuated rather expensively with a Price/Forward Earnings ratio of 17.29.
- TEL's Price/Forward Earnings is on the same level as the industry average.
- The average S&P500 Price/Forward Earnings ratio is at 28.06. TEL is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.14 | ||
| Fwd PE | 17.29 |
4.2 Price Multiples
- 66.67% of the companies in the same industry are cheaper than TEL, based on the Enterprise Value to EBITDA ratio.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of TEL is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.99 | ||
| EV/EBITDA | 8.94 |
4.3 Compensation for Growth
- TEL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- TEL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.95
PEG (5Y)N/A
EPS Next 2Y16.68%
EPS Next 3Y7.73%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 5.51%, TEL is a good candidate for dividend investing.
- TEL's Dividend Yield is a higher than the industry average which is at 3.07.
- Compared to an average S&P500 Dividend Yield of 1.81, TEL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.51% |
5.2 History
- The dividend of TEL has a limited annual growth rate of 2.13%.
Dividend Growth(5Y)2.13%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- TEL pays out 160.48% of its income as dividend. This is not a sustainable payout ratio.
- TEL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP160.48%
EPS Next 2Y16.68%
EPS Next 3Y7.73%
OSL:TEL (2/20/2026, 7:00:00 PM)
174.2
-1.8 (-1.02%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)02-06 2026-02-06/bmo
Earnings (Next)04-28 2026-04-28
Inst Owners35.72%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap238.37B
Revenue(TTM)80.17B
Net Income(TTM)8.19B
Analysts72.5
Price Target173.94 (-0.15%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.51% |
Yearly Dividend9.6
Dividend Growth(5Y)2.13%
DP160.48%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-9.63%
Min EPS beat(2)-28%
Max EPS beat(2)8.75%
EPS beat(4)3
Avg EPS beat(4)1.33%
Min EPS beat(4)-28%
Max EPS beat(4)15.1%
EPS beat(8)6
Avg EPS beat(8)56.76%
EPS beat(12)7
Avg EPS beat(12)24.96%
EPS beat(16)10
Avg EPS beat(16)31.32%
Revenue beat(2)0
Avg Revenue beat(2)-1.56%
Min Revenue beat(2)-1.71%
Max Revenue beat(2)-1.41%
Revenue beat(4)1
Avg Revenue beat(4)-1.09%
Min Revenue beat(4)-1.71%
Max Revenue beat(4)0.3%
Revenue beat(8)1
Avg Revenue beat(8)-1.64%
Revenue beat(12)4
Avg Revenue beat(12)-0.89%
Revenue beat(16)6
Avg Revenue beat(16)-3.16%
PT rev (1m)0.69%
PT rev (3m)-0.82%
EPS NQ rev (1m)38.14%
EPS NQ rev (3m)40.59%
EPS NY rev (1m)-0.63%
EPS NY rev (3m)-2.6%
Revenue NQ rev (1m)-6.17%
Revenue NQ rev (3m)-5.99%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.55%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.14 | ||
| Fwd PE | 17.29 | ||
| P/S | 2.97 | ||
| P/FCF | 11.99 | ||
| P/OCF | 7.63 | ||
| P/B | 3.33 | ||
| P/tB | 6.73 | ||
| EV/EBITDA | 8.94 |
EPS(TTM)8.24
EY4.73%
EPS(NY)10.07
Fwd EY5.78%
FCF(TTM)14.53
FCFY8.34%
OCF(TTM)22.82
OCFY13.1%
SpS58.59
BVpS52.34
TBVpS25.88
PEG (NY)0.95
PEG (5Y)N/A
Graham Number98.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.69% | ||
| ROE | 11.43% | ||
| ROCE | 10.78% | ||
| ROIC | 8.51% | ||
| ROICexc | 9.42% | ||
| ROICexgc | 12.19% | ||
| OM | 23.73% | ||
| PM (TTM) | 10.21% | ||
| GM | 78.07% | ||
| FCFM | 24.8% |
ROA(3y)6%
ROA(5y)7.49%
ROE(3y)18.97%
ROE(5y)27.48%
ROIC(3y)7.95%
ROIC(5y)8.24%
ROICexc(3y)8.8%
ROICexc(5y)9.03%
ROICexgc(3y)11.31%
ROICexgc(5y)11.7%
ROCE(3y)10.07%
ROCE(5y)10.43%
ROICexgc growth 3Y2.96%
ROICexgc growth 5Y-5.31%
ROICexc growth 3Y2.26%
ROICexc growth 5Y-5.25%
OM growth 3Y-0.78%
OM growth 5Y1.02%
PM growth 3Y-43.22%
PM growth 5Y-6.51%
GM growth 3Y0.28%
GM growth 5Y0.67%
F-Score7
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.2 | ||
| Debt/FCF | 5.12 | ||
| Debt/EBITDA | 2.36 | ||
| Cap/Depr | 65.52% | ||
| Cap/Sales | 14.14% | ||
| Interest Coverage | 7.22 | ||
| Cash Conversion | 85.95% | ||
| Profit Quality | 242.93% | ||
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.69 | ||
| Altman-Z | N/A |
F-Score7
WACC6.62%
ROIC/WACC1.29
Cap/Depr(3y)76.18%
Cap/Depr(5y)74.01%
Cap/Sales(3y)16.95%
Cap/Sales(5y)20.41%
Profit Quality(3y)148.8%
Profit Quality(5y)394.85%
High Growth Momentum
Growth
EPS 1Y (TTM)-38.57%
EPS 3Y-7.97%
EPS 5Y-5.48%
EPS Q2Q%44.07%
EPS Next Y22.26%
EPS Next 2Y16.68%
EPS Next 3Y7.73%
EPS Next 5Y12.07%
Revenue 1Y (TTM)0.3%
Revenue growth 3Y-0.14%
Revenue growth 5Y-7.95%
Sales Q2Q%-3.19%
Revenue Next Year0.48%
Revenue Next 2Y1.06%
Revenue Next 3Y1.01%
Revenue Next 5Y0.58%
EBIT growth 1Y5.04%
EBIT growth 3Y-0.92%
EBIT growth 5Y-7.01%
EBIT Next Year92.24%
EBIT Next 3Y26.23%
EBIT Next 5Y16.1%
FCF growth 1Y9.87%
FCF growth 3Y9.22%
FCF growth 5Y-4.34%
OCF growth 1Y-0.82%
OCF growth 3Y-7.32%
OCF growth 5Y-6.55%
TELENOR ASA / TEL.OL FAQ
Can you provide the ChartMill fundamental rating for TELENOR ASA?
ChartMill assigns a fundamental rating of 4 / 10 to TEL.OL.
What is the valuation status for TEL stock?
ChartMill assigns a valuation rating of 4 / 10 to TELENOR ASA (TEL.OL). This can be considered as Fairly Valued.
Can you provide the profitability details for TELENOR ASA?
TELENOR ASA (TEL.OL) has a profitability rating of 6 / 10.
Can you provide the PE and PB ratios for TEL stock?
The Price/Earnings (PE) ratio for TELENOR ASA (TEL.OL) is 21.14 and the Price/Book (PB) ratio is 3.33.
How sustainable is the dividend of TELENOR ASA (TEL.OL) stock?
The dividend rating of TELENOR ASA (TEL.OL) is 6 / 10 and the dividend payout ratio is 160.48%.