TELENOR ASA (TEL.OL) Fundamental Analysis & Valuation
OSL:TEL • NO0010063308
Current stock price
170.3 NOK
0 (0%)
Last:
This TEL.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. TEL.OL Profitability Analysis
1.1 Basic Checks
- TEL had positive earnings in the past year.
- TEL had a positive operating cash flow in the past year.
- In the past 5 years TEL has always been profitable.
- TEL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- TEL's Return On Assets of 3.69% is fine compared to the rest of the industry. TEL outperforms 60.61% of its industry peers.
- TEL has a better Return On Equity (11.43%) than 69.70% of its industry peers.
- TEL's Return On Invested Capital of 8.51% is amongst the best of the industry. TEL outperforms 81.82% 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 7.91%.
- 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
- Looking at the Profit Margin, with a value of 10.21%, TEL is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
- In the last couple of years the Profit Margin of TEL has declined.
- Looking at the Operating Margin, with a value of 23.73%, TEL belongs to the top of the industry, outperforming 87.88% of the companies in the same industry.
- In the last couple of years the Operating Margin of TEL has remained more or less at the same level.
- TEL has a better Gross Margin (78.07%) 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. TEL.OL Health Analysis
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.
- The number of shares outstanding for TEL has been reduced compared to 5 years ago.
- TEL has a worse debt/assets ratio than last year.
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.
- TEL has a better Debt to FCF ratio (5.12) 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.
- Looking at the Debt to Equity ratio, with a value of 1.20, TEL is in line with its industry, 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/WACC1.29
WACC6.59%
2.3 Liquidity
- TEL has a Current 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.
- TEL has a Current ratio (0.71) which is comparable to the rest of the industry.
- A Quick Ratio of 0.69 indicates that TEL may have some problems paying its short term obligations.
- The Quick ratio of TEL (0.69) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.71 | ||
| Quick Ratio | 0.69 |
3. TEL.OL Growth Analysis
3.1 Past
- TEL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.57%.
- 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.
- 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
- The Earnings Per Share is expected to grow by 12.26% on average over the next years. This is quite good.
- The Revenue is expected to grow by 1.04% on average over the next years.
EPS Next Y20.35%
EPS Next 2Y14.19%
EPS Next 3Y11.82%
EPS Next 5Y12.26%
Revenue Next Year-2.12%
Revenue Next 2Y-0.28%
Revenue Next 3Y0.21%
Revenue Next 5Y1.04%
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. TEL.OL Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 20.67, TEL is valued on the expensive side.
- TEL's Price/Earnings is on the same level as the industry average.
- When comparing the Price/Earnings ratio of TEL to the average of the S&P500 Index (26.21), we can say TEL is valued slightly cheaper.
- The Price/Forward Earnings ratio is 17.17, which indicates a rather expensive current valuation of TEL.
- TEL's Price/Forward Earnings is on the same level as the industry average.
- The average S&P500 Price/Forward Earnings ratio is at 23.13. TEL is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.67 | ||
| Fwd PE | 17.17 |
4.2 Price Multiples
- TEL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. TEL is more expensive than 66.67% of the companies in the same industry.
- TEL's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.72 | ||
| EV/EBITDA | 8.72 |
4.3 Compensation for Growth
- The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- TEL has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.02
PEG (5Y)N/A
EPS Next 2Y14.19%
EPS Next 3Y11.82%
5. TEL.OL Dividend Analysis
5.1 Amount
- With a Yearly Dividend Yield of 5.83%, TEL is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 3.07, TEL pays a better dividend. On top of this TEL pays more dividend than 81.82% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.89, TEL pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.83% |
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.
- The dividend of TEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP160.48%
EPS Next 2Y14.19%
EPS Next 3Y11.82%
TEL.OL Fundamentals: All Metrics, Ratios and Statistics
OSL:TEL (4/1/2026, 7:00:00 PM)
170.3
0 (0%)
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 Cap233.03B
Revenue(TTM)80.17B
Net Income(TTM)8.19B
Analysts72.5
Price Target180.3 (5.87%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.83% |
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)0.5%
PT rev (3m)4.38%
EPS NQ rev (1m)0.18%
EPS NQ rev (3m)24.56%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.17%
Revenue NQ rev (1m)-0.69%
Revenue NQ rev (3m)-6.81%
Revenue NY rev (1m)-0.42%
Revenue NY rev (3m)-3.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.67 | ||
| Fwd PE | 17.17 | ||
| P/S | 2.91 | ||
| P/FCF | 11.72 | ||
| P/OCF | 7.46 | ||
| P/B | 3.25 | ||
| P/tB | 6.58 | ||
| EV/EBITDA | 8.72 |
EPS(TTM)8.24
EY4.84%
EPS(NY)9.92
Fwd EY5.82%
FCF(TTM)14.53
FCFY8.53%
OCF(TTM)22.82
OCFY13.4%
SpS58.59
BVpS52.34
TBVpS25.88
PEG (NY)1.02
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
WACC6.59%
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 Y20.35%
EPS Next 2Y14.19%
EPS Next 3Y11.82%
EPS Next 5Y12.26%
Revenue 1Y (TTM)0.3%
Revenue growth 3Y-0.14%
Revenue growth 5Y-7.95%
Sales Q2Q%-3.19%
Revenue Next Year-2.12%
Revenue Next 2Y-0.28%
Revenue Next 3Y0.21%
Revenue Next 5Y1.04%
EBIT growth 1Y5.04%
EBIT growth 3Y-0.92%
EBIT growth 5Y-7.01%
EBIT Next Year88.64%
EBIT Next 3Y26.37%
EBIT Next 5Y16.64%
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 Fundamental Analysis FAQ
Can you provide the ChartMill fundamental rating for TELENOR ASA?
ChartMill assigns a fundamental rating of 4 / 10 to TEL.OL.
Can you provide the valuation status for TELENOR ASA?
ChartMill assigns a valuation rating of 3 / 10 to TELENOR ASA (TEL.OL). This can be considered as Overvalued.
What is the profitability of TEL stock?
TELENOR ASA (TEL.OL) has a profitability rating of 7 / 10.
What is the expected EPS growth for TELENOR ASA (TEL.OL) stock?
The Earnings per Share (EPS) of TELENOR ASA (TEL.OL) is expected to grow by 20.35% in the next year.
Is the dividend of TELENOR ASA sustainable?
The dividend rating of TELENOR ASA (TEL.OL) is 7 / 10 and the dividend payout ratio is 160.48%.