TELENOR ASA (TEL.OL) Stock Fundamental Analysis
OSL:TEL • NO0010063308
178.1 NOK
+1 (+0.56%)
Last: Feb 17, 2026, 01:28 PM
Taking everything into account, TEL scores 4 out of 10 in our fundamental rating. TEL was compared to 33 industry peers in the Diversified Telecommunication Services industry. While TEL is still in line with the averages on profitability rating, there are concerns on its financial health. 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.
- In the past year TEL had a positive cash flow from operations.
- TEL had positive earnings in each of the past 5 years.
- Each year in the past 5 years TEL had a positive operating cash flow.
1.2 Ratios
- With a Return On Assets value of 3.69%, TEL perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
- TEL has a Return On Equity (11.43%) which is in line with its industry peers.
- With a decent Return On Invested Capital value of 8.51%, TEL is doing good in the industry, outperforming 78.79% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for TEL is in line with the industry average of 8.33%.
- 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
- The Profit Margin of TEL (10.21%) is better than 66.67% of its industry peers.
- TEL's Profit Margin has declined in the last couple of years.
- The Operating Margin of TEL (23.73%) is better than 87.88% of its industry peers.
- TEL's Operating Margin has been stable in the last couple of years.
- The Gross Margin of TEL (78.07%) is better than 78.79% of its industry peers.
- TEL's Gross Margin has been stable in the last couple of years.
| 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.
- Compared to 1 year ago, TEL has about the same amount of shares outstanding.
- TEL has less shares outstanding than it did 5 years ago.
- Compared to 1 year ago, TEL has a worse debt to assets ratio.
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.
- The Debt to FCF ratio of TEL (5.12) is better than 81.82% of its industry peers.
- TEL has a Debt/Equity ratio of 1.20. This is a high value indicating a heavy dependency on external financing.
- With a Debt to Equity ratio value of 1.20, TEL perfoms like the industry average, outperforming 48.48% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.2 | ||
| Debt/FCF | 5.12 | ||
| Altman-Z | N/A |
ROIC/WACC1.28
WACC6.64%
2.3 Liquidity
- A Current Ratio of 0.71 indicates that TEL may have some problems paying its short term obligations.
- With a Current ratio value of 0.71, TEL is not doing good in the industry: 63.64% of the companies in the same industry are doing better.
- TEL has a Quick Ratio of 0.71. This is a bad value and indicates that TEL is not financially healthy enough and could expect problems in meeting its short term obligations.
- With a Quick ratio value of 0.69, TEL is not doing good in the industry: 66.67% 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
- The earnings per share for TEL have decreased strongly by -38.57% in the last year.
- TEL shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.48% yearly.
- Looking at the last year, TEL shows a small growth in Revenue. The Revenue has grown by 0.30% in the last year.
- 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
- 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.
- 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
- A Price/Earnings ratio of 21.61 indicates a rather expensive valuation of TEL.
- 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 (27.19), we can say TEL is valued slightly cheaper.
- With a Price/Forward Earnings ratio of 17.68, TEL is valued on the expensive side.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of TEL is on the same level as its industry peers.
- TEL is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.61 | ||
| Fwd PE | 17.68 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TEL indicates a slightly more expensive valuation: TEL is more expensive than 66.67% of the companies listed in the same industry.
- 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 | 12.26 | ||
| EV/EBITDA | 8.98 |
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.
- The decent profitability rating of TEL may justify a higher PE ratio.
PEG (NY)0.97
PEG (5Y)N/A
EPS Next 2Y16.68%
EPS Next 3Y7.73%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 5.48%, TEL is a good candidate for dividend investing.
- TEL's Dividend Yield is a higher than the industry average which is at 3.14.
- Compared to an average S&P500 Dividend Yield of 1.82, TEL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.48% |
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
- 160.48% of the earnings are spent on dividend by TEL. This is not a sustainable payout ratio.
- The dividend of TEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP160.48%
EPS Next 2Y16.68%
EPS Next 3Y7.73%
OSL:TEL (2/17/2026, 1:28:14 PM)
178.1
+1 (+0.56%)
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 Cap243.70B
Revenue(TTM)80.17B
Net Income(TTM)8.19B
Analysts72.5
Price Target173.94 (-2.34%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.48% |
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 | 21.61 | ||
| Fwd PE | 17.68 | ||
| P/S | 3.04 | ||
| P/FCF | 12.26 | ||
| P/OCF | 7.81 | ||
| P/B | 3.4 | ||
| P/tB | 6.88 | ||
| EV/EBITDA | 8.98 |
EPS(TTM)8.24
EY4.63%
EPS(NY)10.07
Fwd EY5.66%
FCF(TTM)14.53
FCFY8.16%
OCF(TTM)22.82
OCFY12.81%
SpS58.59
BVpS52.34
TBVpS25.88
PEG (NY)0.97
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
WACC6.64%
ROIC/WACC1.28
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 21.61 and the Price/Book (PB) ratio is 3.4.
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%.