TELENOR ASA (TEL.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:TEL - NO0010063308 - Common Stock
143.1 NOK
-0.1 (-0.07%)
Taking everything into account, TEL scores 5 out of 10 in our fundamental rating. TEL was compared to 36 industry peers in the Diversified Telecommunication Services industry. TEL scores excellent on profitability, but there are some minor 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
- TEL had positive earnings in the past year.
- TEL had a positive operating cash flow in the past year.
- 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
- TEL has a better Return On Assets (4.47%) than 69.70% of its industry peers.
- TEL has a Return On Equity of 14.79%. This is in the better half of the industry: TEL outperforms 66.67% of its industry peers.
- The Return On Invested Capital of TEL (8.58%) is better than 78.79% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for TEL is in line with the industry average of 7.93%.
- The last Return On Invested Capital (8.58%) for TEL is above the 3 year average (7.81%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.47% | ||
| ROE | 14.79% | ||
| ROIC | 8.58% |
ROA(3y)11.03%
ROA(5y)8.1%
ROE(3y)40.05%
ROE(5y)34.24%
ROIC(3y)7.81%
ROIC(5y)8.57%
1.3 Margins
- With a decent Profit Margin value of 12.26%, TEL is doing good in the industry, outperforming 72.73% of the companies in the same industry.
- TEL's Profit Margin has improved in the last couple of years.
- TEL's Operating Margin of 23.18% is amongst the best of the industry. TEL outperforms 84.85% of its industry peers.
- In the last couple of years the Operating Margin of TEL has remained more or less at the same level.
- Looking at the Gross Margin, with a value of 78.29%, TEL is in the better half of the industry, outperforming 75.76% of the companies in the same industry.
- TEL's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.18% | ||
| PM (TTM) | 12.26% | ||
| GM | 78.29% |
OM growth 3Y4.24%
OM growth 5Y-0.38%
PM growth 3Y144.33%
PM growth 5Y27.39%
GM growth 3Y1.85%
GM growth 5Y0.62%
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.
- The number of shares outstanding for TEL has been reduced compared to 1 year ago.
- The number of shares outstanding for TEL has been reduced compared to 5 years ago.
- Compared to 1 year ago, TEL has an improved debt to assets ratio.
2.2 Solvency
- TEL has an Altman-Z score of 1.66. This is a bad value and indicates that TEL is not financially healthy and even has some risk of bankruptcy.
- The Altman-Z score of TEL (1.66) is better than 84.85% of its industry peers.
- TEL has a debt to FCF ratio of 5.37. This is a neutral value as TEL would need 5.37 years to pay back of all of its debts.
- The Debt to FCF ratio of TEL (5.37) is better than 81.82% of its industry peers.
- TEL has a Debt/Equity ratio of 1.23. This is a high value indicating a heavy dependency on external financing.
- With a Debt to Equity ratio value of 1.23, TEL perfoms like the industry average, outperforming 42.42% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.23 | ||
| Debt/FCF | 5.37 | ||
| Altman-Z | 1.66 |
ROIC/WACC1.24
WACC6.94%
2.3 Liquidity
- TEL has a Current Ratio of 0.52. This is a bad value and indicates that TEL is not financially healthy enough and could expect problems in meeting its short term obligations.
- TEL has a Current ratio of 0.52. This is amonst the worse of the industry: TEL underperforms 84.85% of its industry peers.
- A Quick Ratio of 0.51 indicates that TEL may have some problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 0.51, TEL is doing worse than 84.85% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.52 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
- The earnings per share for TEL have decreased strongly by -40.98% in the last year.
- The Earnings Per Share has been growing slightly by 7.44% on average over the past years.
- Looking at the last year, TEL shows a small growth in Revenue. The Revenue has grown by 0.57% in the last year.
- The Revenue has been decreasing by -6.80% on average over the past years.
EPS 1Y (TTM)-40.98%
EPS 3Y23.32%
EPS 5Y7.44%
EPS Q2Q%-25.1%
Revenue 1Y (TTM)0.57%
Revenue growth 3Y-6.3%
Revenue growth 5Y-6.8%
Sales Q2Q%1.33%
3.2 Future
- Based on estimates for the next years, TEL will show a decrease in Earnings Per Share. The EPS will decrease by -3.77% on average per year.
- TEL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.58% yearly.
EPS Next Y-36.35%
EPS Next 2Y-13.07%
EPS Next 3Y-5.7%
EPS Next 5Y-3.77%
Revenue Next Year0.35%
Revenue Next 2Y0.42%
Revenue Next 3Y0.83%
Revenue Next 5Y0.58%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- 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
- Based on the Price/Earnings ratio of 18.93, the valuation of TEL can be described as rather expensive.
- TEL's Price/Earnings is on the same level as the industry average.
- TEL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.38.
- A Price/Forward Earnings ratio of 14.12 indicates a correct valuation of TEL.
- TEL's Price/Forward Earnings is on the same level as the industry average.
- TEL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.29.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.93 | ||
| Fwd PE | 14.12 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, TEL is valued a bit more expensive than the industry average as 63.64% of the companies are valued more cheaply.
- Based on the Price/Free Cash Flow ratio, TEL is valued a bit cheaper than the industry average as 72.73% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.57 | ||
| EV/EBITDA | 7.84 |
4.3 Compensation for Growth
- TEL has a very decent profitability rating, which may justify a higher PE ratio.
- A cheap valuation may be justified as TEL's earnings are expected to decrease with -5.70% in the coming years.
PEG (NY)N/A
PEG (5Y)2.54
EPS Next 2Y-13.07%
EPS Next 3Y-5.7%
5. Dividend
5.1 Amount
- TEL has a Yearly Dividend Yield of 6.70%, which is a nice return.
- Compared to an average industry Dividend Yield of 3.36, TEL pays a better dividend. On top of this TEL pays more dividend than 87.88% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.85, TEL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.7% |
5.2 History
- The dividend of TEL has a limited annual growth rate of 2.70%.
Dividend Growth(5Y)2.7%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- 131.16% of the earnings are spent on dividend by TEL. This is not a sustainable payout ratio.
- The Dividend Rate of TEL has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP131.16%
EPS Next 2Y-13.07%
EPS Next 3Y-5.7%
OSL:TEL (1/16/2026, 7:00:00 PM)
143.1
-0.1 (-0.07%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryDiversified Telecommunication Services
Earnings (Last)10-29 2025-10-29/bmo
Earnings (Next)02-06 2026-02-06/amc
Inst Owners35.72%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap195.81B
Revenue(TTM)80.82B
Net Income(TTM)9.91B
Analysts71.82
Price Target172.02 (20.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.7% |
Yearly Dividend9.5
Dividend Growth(5Y)2.7%
DP131.16%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-9.26%
Min EPS beat(2)-28%
Max EPS beat(2)9.48%
EPS beat(4)2
Avg EPS beat(4)-2.48%
Min EPS beat(4)-28%
Max EPS beat(4)15.1%
EPS beat(8)5
Avg EPS beat(8)50.24%
EPS beat(12)7
Avg EPS beat(12)36.4%
EPS beat(16)9
Avg EPS beat(16)29.36%
Revenue beat(2)1
Avg Revenue beat(2)-0.56%
Min Revenue beat(2)-1.41%
Max Revenue beat(2)0.3%
Revenue beat(4)1
Avg Revenue beat(4)-1.21%
Min Revenue beat(4)-2.16%
Max Revenue beat(4)0.3%
Revenue beat(8)2
Avg Revenue beat(8)-1.34%
Revenue beat(12)4
Avg Revenue beat(12)-4.16%
Revenue beat(16)6
Avg Revenue beat(16)-5.9%
PT rev (1m)-0.42%
PT rev (3m)0.63%
EPS NQ rev (1m)2.71%
EPS NQ rev (3m)-0.57%
EPS NY rev (1m)-2.65%
EPS NY rev (3m)-4.66%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)-0.49%
Revenue NY rev (1m)-0.36%
Revenue NY rev (3m)-0.39%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.93 | ||
| Fwd PE | 14.12 | ||
| P/S | 2.42 | ||
| P/FCF | 10.57 | ||
| P/OCF | 6.39 | ||
| P/B | 2.92 | ||
| P/tB | 6.25 | ||
| EV/EBITDA | 7.84 |
EPS(TTM)7.56
EY5.28%
EPS(NY)10.14
Fwd EY7.08%
FCF(TTM)13.53
FCFY9.46%
OCF(TTM)22.39
OCFY15.65%
SpS59.07
BVpS48.96
TBVpS22.89
PEG (NY)N/A
PEG (5Y)2.54
Graham Number91.26
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.47% | ||
| ROE | 14.79% | ||
| ROCE | 11.15% | ||
| ROIC | 8.58% | ||
| ROICexc | 9.22% | ||
| ROICexgc | 11.95% | ||
| OM | 23.18% | ||
| PM (TTM) | 12.26% | ||
| GM | 78.29% | ||
| FCFM | 22.91% |
ROA(3y)11.03%
ROA(5y)8.1%
ROE(3y)40.05%
ROE(5y)34.24%
ROIC(3y)7.81%
ROIC(5y)8.57%
ROICexc(3y)8.51%
ROICexc(5y)9.43%
ROICexgc(3y)10.87%
ROICexgc(5y)12.22%
ROCE(3y)10.15%
ROCE(5y)11.13%
ROICexgc growth 3Y-8.62%
ROICexgc growth 5Y-8.89%
ROICexc growth 3Y-6.85%
ROICexc growth 5Y-8.18%
OM growth 3Y4.24%
OM growth 5Y-0.38%
PM growth 3Y144.33%
PM growth 5Y27.39%
GM growth 3Y1.85%
GM growth 5Y0.62%
F-Score7
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.23 | ||
| Debt/FCF | 5.37 | ||
| Debt/EBITDA | 2.28 | ||
| Cap/Depr | 69.96% | ||
| Cap/Sales | 14.99% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 84.98% | ||
| Profit Quality | 186.87% | ||
| Current Ratio | 0.52 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 1.66 |
F-Score7
WACC6.94%
ROIC/WACC1.24
Cap/Depr(3y)82.64%
Cap/Depr(5y)73.98%
Cap/Sales(3y)22.07%
Cap/Sales(5y)20.53%
Profit Quality(3y)79.16%
Profit Quality(5y)374.89%
High Growth Momentum
Growth
EPS 1Y (TTM)-40.98%
EPS 3Y23.32%
EPS 5Y7.44%
EPS Q2Q%-25.1%
EPS Next Y-36.35%
EPS Next 2Y-13.07%
EPS Next 3Y-5.7%
EPS Next 5Y-3.77%
Revenue 1Y (TTM)0.57%
Revenue growth 3Y-6.3%
Revenue growth 5Y-6.8%
Sales Q2Q%1.33%
Revenue Next Year0.35%
Revenue Next 2Y0.42%
Revenue Next 3Y0.83%
Revenue Next 5Y0.58%
EBIT growth 1Y2.9%
EBIT growth 3Y-2.33%
EBIT growth 5Y-7.16%
EBIT Next Year91.79%
EBIT Next 3Y26.39%
EBIT Next 5Y15.98%
FCF growth 1Y109.68%
FCF growth 3Y-7.44%
FCF growth 5Y10.14%
OCF growth 1Y3.62%
OCF growth 3Y-9.36%
OCF growth 5Y-1.66%
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 18.93 and the Price/Book (PB) ratio is 2.92.
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 131.16%.