KPN Stock Analysis: Koninklijke KPN | AS
Telecom Services | AS, Netherlands | Market Cap: 14.647m EUR | 12M Return: 1.1% | NL0000009082 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.4M
EPS Trend: 88.6%
Qual. Beats: -1
Rev. Trend: 89.6%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
Koninklijke KPN N.V. is a Dutch telecommunications and IT services provider headquartered in Rotterdam, founded in 1881 and operating under its current name since 1998. The company runs four segments-Consumer, Business, Wholesale and Network, and Operations & IT-delivering fixed and mobile telephony, broadband internet, and TV to retail and business customers, alongside wholesale network access for third parties.
In addition to core connectivity services, KPN offers network-related ICT solutions spanning security, cloud, IoT, and interconnect services, and sells handsets, peripherals, and software licenses. Its portfolio is marketed under multiple brands, including KPN, XS4ALL, Simyo, KPN Security, KPN Health, Solcon, Inspark, KPN Partner Network, KPN IoT, and youfone.
As a large-cap integrated telecommunications operator, KPNs business model combines retail consumer services, enterprise ICT solutions, and wholesale network access, generating revenue across consumer subscriptions, business contracts, and infrastructure leasing. The Dutch telecom market is a mature, highly competitive landscape, with operators typically relying on bundled fixed-mobile offerings and growing enterprise demand for cloud and IoT services to support revenue.
- VodafoneZiggo price war pressures Dutch mobile and broadband ARPU
- Fiber network expansion weighs on margins and free cash flow
- Dutch regulator reviews spectrum auction terms and wholesale access
| Net Income: 884.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.64 > 1.0 |
| NWC/Revenue: -11.55% < 20% (prev -7.63%; Δ -3.92% < -1%) |
| CFO/TA 0.18 > 3% & CFO 2.31b > Net Income 884.0m |
| Net Debt (8.42b) to EBITDA (2.73b): 3.09 < 3 |
| Current Ratio: 0.66 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.77b) vs 12m ago -6.64% < -2% |
| Gross Margin: 30.93% > 18% (prev 53.67%; Δ -22.74% > 0.5%) |
| Asset Turnover: 46.65% > 50% (prev 46.14%; Δ 0.50% > 0%) |
| Interest Coverage Ratio: 10.10 > 6 (EBIT TTM 1.42b / Interest Expense TTM 141.0m) |
| A: -0.05 (Total Current Assets 1.28b - Total Current Liabilities 1.96b) / Total Assets 12.6b |
| B: -0.38 (Retained Earnings -4.83b / Total Assets 12.6b) |
| C: 0.11 (EBIT TTM 1.42b / Avg Total Assets 12.5b) |
| D: 0.22 (Book Value of Equity 2.30b / Total Liabilities 10.3b) |
| Altman-Z'' = -0.60 = B |
| DSRI: 1.10 (Receivables 808.0m/720.0m, Revenue 5.83b/5.73b) |
| GMI: 1.74 (GM 53.67% / 30.93%) |
| AQI: 0.95 (AQ_t 0.32 / AQ_t-1 0.34) |
| SGI: 1.02 (Revenue 5.83b / 5.73b) |
| TATA: -0.11 (NI 884.0m - CFO 2.31b) / TA 12.6b) |
| Beneish M = -2.30 (Cap -4..+1) = BBB |
As of October 10, 2026, the stock is trading at EUR 3.88 with a total of 13,790,911 shares traded. Over the past week, the price has changed by -1.40%, over one month by -4.50%, over three months by -6.34% and over the past year by +1.05%.
Current recommended Stop Loss: 3.70 (which is 4.6% or 2.6 ATR below the current price).
Koninklijke KPN has no consensus analysts rating.
P/E Trailing = 17.65
P/E Forward = 14.3062
P/S = 2.5132
P/B = 4.5171
P/EG = 2.0154
Revenue TTM = 5.83b EUR
EBIT TTM = 1.42b EUR
EBITDA TTM = 2.73b EUR
Long Term Debt = 6.19b EUR (from longTermDebt, last quarter)
Short Term Debt = 410.0m EUR (from shortTermDebt, last quarter)
Debt = 8.84b EUR (from shortLongTermDebtTotal, last quarter) + Leases 687.0m
Net Debt = 8.42b EUR (calculated: Debt 8.84b - CCE 419.0m)
Enterprise Value = 23.1b EUR (14.6b + Debt 8.84b - CCE 419.0m)
Interest Coverage Ratio = 10.10 (Ebit TTM 1.42b / Interest Expense TTM 141.0m)
EV/FCF = 22.08x (Enterprise Value 23.1b / FCF TTM 1.04b)
FCF Yield = 4.53% (FCF TTM 1.04b / Enterprise Value 23.1b)
FCF Margin = 17.91% (FCF TTM 1.04b / Revenue TTM 5.83b)
Net Margin = 15.15% (Net Income TTM 884.0m / Revenue TTM 5.83b)
Gross Margin = 30.93% ((Revenue TTM 5.83b - Cost of Revenue TTM 4.03b) / Revenue TTM)
Gross Margin QoQ = 53.28% (prev 8.69%)
Tobins Q-Ratio = 1.83 (Enterprise Value 23.1b / Total Assets 12.6b)
Interest Expense / Debt = 1.59% (Interest Expense 141.0m / Debt 8.84b)
Taxrate = 20.29% (225.0m / 1.11b)
NOPAT = 1.14b (EBIT 1.42b * (1 - 20.29%))
Current Ratio = 0.66 (Total Current Assets 1.28b / Total Current Liabilities 1.96b)
Debt / Equity = 3.85 (Debt 8.84b / totalStockholderEquity, last quarter 2.30b)
Debt / EBITDA = 3.09 (Net Debt 8.42b / EBITDA 2.73b)
Debt / FCF = 8.06 (Net Debt 8.42b / FCF TTM 1.04b)
Total Stockholder Equity = 2.94b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.07% (Net Income 884.0m / Total Assets 12.6b)
RoE = 30.10% (Net Income TTM 884.0m / Total Stockholder Equity 2.94b)
RoCE = 15.60% (EBIT 1.42b / Capital Employed (Equity 2.94b + L.T.Debt 6.19b))
RoIC = 10.55% (NOPAT 1.14b / Invested Capital 10.8b)
WACC = 3.15% (E(14.6b)/V(23.5b) * Re(4.29%) + D(8.84b)/V(23.5b) * Rd(1.59%) * (1-Tc(0.20)))
Discount Rate = 4.29% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -0.15 | Cagr: -2.94%
[DCF] Terminal Value 76.66% ; FCFF base≈1.01b ; Y1≈1.09b ; Y5≈1.36b
[DCF] Fair Price = 3.28 (EV 20.8b - Net Debt 8.42b = Equity 12.4b / Shares 3.77b; r=8.35% [WACC [floored]]; 5y FCF grow 10.0% → 2.50% )
EPS Correlation: 88.58 | EPS CAGR: 5.92% | SUE: -1.10 | # QB: -1
Revenue Correlation: 89.56 | Revenue CAGR: 37.60% | SUE: 2.23 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.06 | Chg30d=-1.63% | Revisions=-25% | Analysts=4
EPS current Year (2026-12-31): EPS=0.25 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+6.5% | GrowthRev=+1.3%
EPS next Year (2027-12-31): EPS=0.27 | Chg30d=-0.74% | Revisions=+0% | GrowthEPS=+9.5% | GrowthRev=+2.0%
[Analyst] Revisions Ratio: -12% (up=2, down=3)