TEL Stock Analysis: Telenor ASA | OL
Telecom Services | OL, Norway | Market Cap: 172.090m NOK | 12M Return: -18.4% | NO0010063308 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 252M
EPS Trend: 58.8%
Qual. Beats: 0
Rev. Trend: -45.5%
Qual. Beats: 0
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.
Telenor ASA is a Norwegian-headquartered telecommunications company operating across four segments: Nordics, Asia, Infrastructure, and Amp. Founded in 1855 and based in Fornebu, Norway, the company is classified in the GICS Integrated Telecommunication Services sub-industry and trades on the Oslo Stock Exchange (OL) under the ticker TEL.
The company delivers a broad portfolio of mobile, broadband, and TV services to consumers, alongside enterprise offerings such as managed services, virtual private networks, software-defined networking, network-as-a-service, and IoT solutions. It also serves specialised maritime segments (cruise and ferry, fisheries, and offshore oil and gas), supplies customer hardware like handsets and modems, and operates wholesale services including national and international roaming, interconnect, and tower and data centre colocation. A cloud storage service for private and business users rounds out the offering.
As an integrated telecom operator, Telenors business model combines retail connectivity, enterprise services, and infrastructure assets. The integrated telecommunication services sector is generally characterised by high capital expenditure on network rollout and a growing emphasis on enterprise, IoT, and wholesale revenue streams to offset saturation in mature consumer markets.
- Nordic 5G monetization lifts ARPU and mobile margins
- Asian currency depreciation pressures reported revenue and earnings
- Infrastructure tower carve-out supports dividends and buybacks
| 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 October 09, 2026, the stock is trading at NOK 126.10 with a total of 2,662,536 shares traded. Over the past week, the price has changed by -0.63%, over one month by -6.11%, over three months by -12.85% and over the past year by -18.44%.
Current recommended Stop Loss: 123.30 (which is 2.2% or 1.2 ATR below the current price).
Telenor ASA has no consensus analysts rating.
P/E Trailing = 10.8276
P/E Forward = 15.5763
P/S = 2.2847
P/B = 2.8302
P/EG = 3.0763
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 = 155b NOK (172b + Debt 15.0b - CCE 31.7b)
Interest Coverage Ratio = 5.02 (Ebit TTM 16.8b / Interest Expense TTM 3.33b)
EV/FCF = 8.05x (Enterprise Value 155b / FCF TTM 19.3b)
FCF Yield = 12.42% (FCF TTM 19.3b / Enterprise Value 155b)
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 = 0.75 (Enterprise Value 155b / 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 = 6.27% (E(172b)/V(187b) * Re(5.27%) + D(15.0b)/V(187b) * Rd(22.22%) * (1-Tc(0.20)))
Discount Rate = 5.27% (= 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 = 336.0 (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: -0.54 | # QB: 0
Revenue Correlation: -45.54 | Revenue CAGR: -2.05% | SUE: -0.08 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.23 | Chg30d=-1.59% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=10.52 | Chg30d=-1.44% | Revisions=-50% | GrowthEPS=+28.0% | GrowthRev=-3.4%
EPS next Year (2027-12-31): EPS=9.27 | Chg30d=-3.09% | Revisions=+17% | GrowthEPS=-11.9% | GrowthRev=+0.2%
[Analyst] Revisions Ratio: -30% (up=2, down=5)