TELENOR ASA (TEL.OL) Stock Fundamental Analysis
OSL:TEL • NO0010063308
173.9 NOK
+0.3 (+0.17%)
Last: Feb 24, 2026, 07:00 PM
Taking everything into account, TEL scores 5 out of 10 in our fundamental rating. TEL was compared to 31 industry peers in the Diversified Telecommunication Services industry. TEL has an excellent profitability rating, but there are concerns on its financial health. TEL has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year TEL was profitable.
- In the past year TEL had a positive cash flow from operations.
- Each year in the past 5 years TEL has been profitable.
- In the past 5 years TEL always reported a positive cash flow from operatings.
1.2 Ratios
- TEL has a Return On Assets (3.69%) which is comparable to the rest of the industry.
- The Return On Equity of TEL (11.43%) is better than 61.29% of its industry peers.
- TEL has a better Return On Invested Capital (8.51%) than 80.65% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for TEL is in line with the industry average of 8.25%.
- The 3 year average ROIC (7.95%) for TEL is below the current ROIC(8.51%), indicating increased profibility in the last year.
| 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
- With a decent Profit Margin value of 10.21%, TEL is doing good in the industry, outperforming 74.19% of the companies in the same industry.
- In the last couple of years the Profit Margin of TEL has declined.
- TEL's Operating Margin of 23.73% is amongst the best of the industry. TEL outperforms 87.10% of its industry peers.
- TEL's Operating Margin has been stable in the last couple of years.
- TEL has a Gross Margin of 78.07%. This is amongst the best in the industry. TEL outperforms 80.65% 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
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TEL is still 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
- TEL has a debt to FCF ratio of 5.12. This is a neutral value as TEL would need 5.12 years to pay back of all of its debts.
- With an excellent Debt to FCF ratio value of 5.12, TEL belongs to the best of the industry, outperforming 80.65% of the companies in the same industry.
- A Debt/Equity ratio of 1.20 is on the high side and indicates that TEL has dependencies on debt financing.
- Looking at the Debt to Equity ratio, with a value of 1.20, TEL is in line with its industry, outperforming 51.61% of the companies in the same industry.
| 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 has a Current ratio of 0.71. This is in the lower half of the industry: TEL underperforms 64.52% of its industry peers.
- A Quick Ratio of 0.69 indicates that TEL may have some problems paying its short term obligations.
- With a Quick ratio value of 0.69, TEL is not doing good in the industry: 67.74% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.69 |
3. Growth
3.1 Past
- TEL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.57%.
- The Earnings Per Share has been decreasing by -5.48% on average over the past years.
- TEL shows a small growth in Revenue. In the last year, the Revenue has grown by 0.30%.
- Measured over the past years, TEL shows a decrease in Revenue. The Revenue has been decreasing by -7.95% on average per year.
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
- TEL is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.07% yearly.
- TEL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.86% yearly.
EPS Next Y22.26%
EPS Next 2Y16.68%
EPS Next 3Y7.73%
EPS Next 5Y12.07%
Revenue Next Year-1.71%
Revenue Next 2Y-0.04%
Revenue Next 3Y0.49%
Revenue Next 5Y0.86%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 21.10, which indicates a rather expensive current valuation of TEL.
- TEL's Price/Earnings is on the same level as the industry average.
- The average S&P500 Price/Earnings ratio is at 26.98. TEL is valued slightly cheaper when compared to this.
- The Price/Forward Earnings ratio is 17.26, which indicates a rather expensive current valuation of TEL.
- The rest of the industry has a similar Price/Forward Earnings ratio as TEL.
- When comparing the Price/Forward Earnings ratio of TEL to the average of the S&P500 Index (28.01), we can say TEL is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.1 | ||
| Fwd PE | 17.26 |
4.2 Price Multiples
- TEL's Enterprise Value to EBITDA ratio is in line with the industry average.
- The rest of the industry has a similar Price/Free Cash Flow ratio as TEL.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.97 | ||
| EV/EBITDA | 8.85 |
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.
- The decent profitability rating of TEL 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 3.06.
- TEL's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
| 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 (2/24/2026, 7:00:00 PM)
173.9
+0.3 (+0.17%)
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 Cap237.96B
Revenue(TTM)80.17B
Net Income(TTM)8.19B
Analysts72.5
Price Target173.94 (0.02%)
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)1.12%
PT rev (3m)-0.24%
EPS NQ rev (1m)33.69%
EPS NQ rev (3m)26.56%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.6%
Revenue NQ rev (1m)-0.69%
Revenue NQ rev (3m)-5.87%
Revenue NY rev (1m)-3.53%
Revenue NY rev (3m)-4.06%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.1 | ||
| Fwd PE | 17.26 | ||
| P/S | 2.97 | ||
| P/FCF | 11.97 | ||
| P/OCF | 7.62 | ||
| P/B | 3.32 | ||
| P/tB | 6.72 | ||
| EV/EBITDA | 8.85 |
EPS(TTM)8.24
EY4.74%
EPS(NY)10.07
Fwd EY5.79%
FCF(TTM)14.53
FCFY8.36%
OCF(TTM)22.82
OCFY13.12%
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 Year-1.71%
Revenue Next 2Y-0.04%
Revenue Next 3Y0.49%
Revenue Next 5Y0.86%
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 5 / 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 7 / 10.
Can you provide the PE and PB ratios for TEL stock?
The Price/Earnings (PE) ratio for TELENOR ASA (TEL.OL) is 21.1 and the Price/Book (PB) ratio is 3.32.
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%.