TEL Stock Analysis: Telenor ASA | OL
Telecom Services | OL, Norway | Market Cap: 179.364m NOK | 12M Return: -10.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 271M
EPS Trend: 58.8%
Qual. Beats: 0
Rev. Trend: -45.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Telenor ASA is a Norwegian-headquartered telecommunications company that operates across four segments: Nordics, Asia, Infrastructure, and Amp. Its offerings span mobile and broadband subscriptions, TV services, and a wide range of business solutions including managed services, VPNs, software-defined networking, network-as-a-service, IoT, and mobile maritime communication for industries such as cruise, fisheries, and oil and gas. The company also sells hardware (phones, modems, TV boxes), provides wholesale services such as roaming, interconnect, MVNO support, and tower/data centre colocation, and operates a cloud storage service for both consumers and businesses. Founded in 1855, Telenor originally began as a telegraph operator, making it one of the oldest telecommunications companies in the world.
As an integrated operator classified under GICS Integrated Telecommunication Services, Telenors business model combines consumer subscriptions, enterprise services, and infrastructure wholesale - a vertically layered approach that is typical of large European telcos seeking to monetize both end-user relationships and network capacity. Its presence in both mature Nordic markets and growth markets in Asia reflects a strategy of geographic diversification common among established European carriers.
- Grameenphone and Digi subscriber growth lifts Asia segment revenue
- Nordic 5G investment pressures operating margins near term
- Tower infrastructure monetization accelerates capital returns to shareholders
| Net Income: 11.8b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 1.57 > 1.0 |
| NWC/Revenue: 18.26% < 20% (prev -36.58%; Δ 54.83% < -1%) |
| CFO/TA 0.32 > 3% & CFO 65.2b > Net Income 11.8b |
| Net Debt (-16.7b) to EBITDA (34.1b): -0.49 < 3 |
| Current Ratio: 1.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.36b) vs 12m ago -0.25% < -2% |
| Gross Margin: 76.81% > 18% (prev 78.17%; Δ -1.37% > 0.5%) |
| Asset Turnover: 34.26% > 50% (prev 36.73%; Δ -2.47% > 0%) |
| Interest Coverage Ratio: 5.02 > 6 (EBIT TTM 16.8b / Interest Expense TTM 3.33b) |
| A: 0.06 (Total Current Assets 54.7b - Total Current Liabilities 41.4b) / Total Assets 206b |
| B: 0.39 (Retained Earnings 80.8b / Total Assets 206b) |
| C: 0.08 (EBIT TTM 16.8b / Avg Total Assets 213b) |
| D: 0.46 (Book Value of Equity 63.0b / Total Liabilities 138b) |
| Altman-Z'' = 2.71 = A |
| DSRI: 1.00 (Receivables 12.4b/13.7b, Revenue 72.9b/80.6b) |
| GMI: 1.02 (GM 78.17% / 76.81%) |
| AQI: 0.72 (AQ_t 0.39 / AQ_t-1 0.54) |
| SGI: 0.90 (Revenue 72.9b / 80.6b) |
| TATA: -0.26 (NI 11.8b - CFO 65.2b) / TA 206b) |
| Beneish M = -3.27 (Cap -4..+1) = AA |
As of July 28, 2026, the stock is trading at NOK 133.30 with a total of 1,429,350 shares traded. Over the past week, the price has changed by +0.38%, over one month by -6.85%, over three months by -15.23% and over the past year by -10.28%.
Current recommended Stop Loss: 129.30 (which is 3% or 1.3 ATR below the current price).
Telenor ASA has no consensus analysts rating.
P/E Trailing = 11.2287
P/E Forward = 15.1286
P/S = 2.3812
P/B = 2.859
P/EG = 2.9905
Revenue TTM = 72.9b NOK
EBIT TTM = 16.8b NOK
EBITDA TTM = 34.1b NOK
Long Term Debt = 71.1b NOK (from longTermDebt, last quarter)
Short Term Debt = 1.10b NOK (from shortLongTermDebt, last quarter)
Debt = 15.0b NOK (Leases only: 15.0b)
Net Debt = -16.7b NOK (calculated: Debt 15.0b - CCE 31.7b)
Enterprise Value = 163b NOK (179b + Debt 15.0b - CCE 31.7b)
Interest Coverage Ratio = 5.02 (Ebit TTM 16.8b / Interest Expense TTM 3.33b)
EV/FCF = 8.43x (Enterprise Value 163b / FCF TTM 19.3b)
FCF Yield = 11.86% (FCF TTM 19.3b / Enterprise Value 163b)
FCF Margin = 26.48% (FCF TTM 19.3b / Revenue TTM 72.9b)
Net Margin = 16.26% (Net Income TTM 11.8b / Revenue TTM 72.9b)
Gross Margin = 76.81% ((Revenue TTM 72.9b - Cost of Revenue TTM 16.9b) / Revenue TTM)
Gross Margin QoQ = 77.83% (prev 78.01%)
Tobins Q-Ratio = 0.79 (Enterprise Value 163b / Total Assets 206b)
Interest Expense / Debt = 22.22% (Interest Expense 3.33b / Debt 15.0b)
Taxrate = 20.37% (4.32b / 21.2b)
NOPAT = 13.3b (EBIT 16.8b * (1 - 20.37%))
Current Ratio = 1.32 (Total Current Assets 54.7b / Total Current Liabilities 41.4b)
Debt / Equity = 0.24 (Debt 15.0b / totalStockholderEquity, last quarter 63.0b)
Debt / EBITDA = -0.49 (Net Debt -16.7b / EBITDA 34.1b)
Debt / FCF = -0.87 (Net Debt -16.7b / FCF TTM 19.3b)
Total Stockholder Equity = 69.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.57% (Net Income 11.8b / Total Assets 206b)
RoE = 17.15% (Net Income TTM 11.8b / Total Stockholder Equity 69.1b)
RoCE = 11.95% (EBIT 16.8b / Capital Employed (Equity 69.1b + L.T.Debt 71.1b))
RoIC = 8.29% (NOPAT 13.3b / Invested Capital 161b)
WACC = 6.71% (E(179b)/V(194b) * Re(5.79%) + D(15.0b)/V(194b) * Rd(22.22%) * (1-Tc(0.20)))
Discount Rate = 5.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -64.72 | Cagr: -1.58%
[DCF] Terminal Value 77.62% ; FCFF base≈18.4b ; Y1≈20.7b ; Y5≈29.0b
[DCF] Fair Price = 334.3 (EV 439b - Net Debt -16.7b = Equity 456b / Shares 1.36b; r=8.35% [WACC [floored]]; 5y FCF grow 12.78% → 2.50% )
EPS Correlation: 58.76 | EPS CAGR: 23.64% | SUE: -0.56 | # QB: 0
Revenue Correlation: -45.54 | Revenue CAGR: -2.05% | SUE: -0.08 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.30 | Chg30d=+0.74% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=10.75 | Chg30d=-2.74% | Revisions=-50% | GrowthEPS=+30.8% | GrowthRev=-3.2%
EPS next Year (2027-12-31): EPS=9.54 | Chg30d=-0.78% | Revisions=+0% | GrowthEPS=-11.2% | GrowthRev=+0.7%
[Analyst] Revisions Ratio: -18% (up=3, down=5)