TEL2-B Stock Analysis: Tele2 (publ) | ST
Telecom Services | ST, Sweden | Market Cap: 110.692m SEK | 12M Return: 5.5% | SE0005190238 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 311M
EPS Trend: 95.2%
Qual. Beats: -2
Rev. Trend: 97.4%
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.
Tele2 AB (publ) is a Swedish-headquartered telecommunications operator providing fixed and mobile connectivity, broadband, and entertainment services across Sweden, Lithuania, Latvia, and Estonia. The company serves both consumer and enterprise customers with offerings that span mobile telephony, fixed broadband, streaming and linear TV, cloud, IT, network, workplace, and security services. It operates a wholesale and carrier business that includes data network services (dark fiber, wavelengths, Ethernet, IP VPN), MVNO and SIP-interconnect offerings, IoT connectivity (eSIM and dual-IMSI solutions), international voice routing, and application-to-person messaging. Tele2 was incorporated in 1990 as NetCom AB and adopted its current name in February 2001; it is based in Kista, Sweden.
Classified within the GICS Alternative Carriers sub-industry, Tele2 competes against incumbent operators such as Telia in the Nordic market while operating as a leading challenger in the Baltic states, where telecom penetration and mobile data usage continue to grow. Its mix of retail, enterprise, and wholesale IoT/carrier services reflects the broader European telecom trend of diversifying beyond traditional voice and broadband into cloud, security, and connected-device revenue streams.
- Sweden mobile ARPU pressured by Telia and Telenor competition
- Telenor merger synergies accelerate Swedish network cost savings
- Baltic markets revenue growth offsets Sweden stagnation
- 5G capex peaks pressure near-term free cash flow margins
| Net Income: 10.1b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 0.48 > 1.0 |
| NWC/Revenue: -13.54% < 20% (prev -27.29%; Δ 13.74% < -1%) |
| CFO/TA 0.17 > 3% & CFO 11.4b > Net Income 10.1b |
| Net Debt (34.4b) to EBITDA (18.5b): 1.85 < 3 |
| Current Ratio: 0.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (698.5m) vs 12m ago 0.27% < -2% |
| Gross Margin: 43.28% > 18% (prev 43.61%; Δ -0.32% > 0.5%) |
| Asset Turnover: 46.05% > 50% (prev 46.69%; Δ -0.64% > 0%) |
| Interest Coverage Ratio: 12.34 > 6 (EBIT TTM 12.3b / Interest Expense TTM 996.0m) |
| A: -0.06 (Total Current Assets 9.38b - Total Current Liabilities 13.5b) / Total Assets 67.5b |
| B: -0.08 (Retained Earnings -5.66b / Total Assets 67.5b) |
| C: 0.19 (EBIT TTM 12.3b / Avg Total Assets 65.4b) |
| D: 0.51 (Book Value of Equity 22.7b / Total Liabilities 44.7b) |
| Altman-Z'' = 1.13 = BB |
| DSRI: 0.92 (Receivables 4.97b/5.30b, Revenue 30.1b/29.6b) |
| GMI: 1.01 (GM 43.61% / 43.28%) |
| AQI: 0.92 (AQ_t 0.61 / AQ_t-1 0.67) |
| SGI: 1.02 (Revenue 30.1b / 29.6b) |
| TATA: -0.02 (NI 10.1b - CFO 11.4b) / TA 67.5b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of October 09, 2026, the stock is trading at SEK 160.50 with a total of 1,737,519 shares traded. Over the past week, the price has changed by +1.58%, over one month by -6.52%, over three months by -3.69% and over the past year by +5.48%.
Current recommended Stop Loss: 155.50 (which is 3.1% or 1.6 ATR below the current price).
Tele2 (publ) has no consensus analysts rating.
P/E Trailing = 11.0145
P/E Forward = 22.0751
P/S = 3.674
P/B = 5.1261
P/EG = 4.1148
Revenue TTM = 30.1b SEK
EBIT TTM = 12.3b SEK
EBITDA TTM = 18.5b SEK
Long Term Debt = 21.3b SEK (from longTermDebt, last quarter)
Short Term Debt = 3.52b SEK (from shortTermDebt, last quarter)
Debt = 37.9b SEK (from shortLongTermDebtTotal, last quarter) + Leases 7.20b
Net Debt = 34.4b SEK (calculated: Debt 37.9b - CCE 3.59b)
Enterprise Value = 145b SEK (111b + Debt 37.9b - CCE 3.59b)
Interest Coverage Ratio = 12.34 (Ebit TTM 12.3b / Interest Expense TTM 996.0m)
EV/FCF = 18.75x (Enterprise Value 145b / FCF TTM 7.74b)
FCF Yield = 5.33% (FCF TTM 7.74b / Enterprise Value 145b)
FCF Margin = 25.68% (FCF TTM 7.74b / Revenue TTM 30.1b)
Net Margin = 33.58% (Net Income TTM 10.1b / Revenue TTM 30.1b)
Gross Margin = 43.28% ((Revenue TTM 30.1b - Cost of Revenue TTM 17.1b) / Revenue TTM)
Gross Margin QoQ = 43.36% (prev 43.90%)
Tobins Q-Ratio = 2.15 (Enterprise Value 145b / Total Assets 67.5b)
Interest Expense / Debt = 2.62% (Interest Expense 996.0m / Debt 37.9b)
Taxrate = 10.56% (1.19b / 11.3b)
NOPAT = 11.0b (EBIT 12.3b * (1 - 10.56%))
Current Ratio = 0.70 (Total Current Assets 9.38b / Total Current Liabilities 13.5b)
Debt / Equity = 1.67 (Debt 37.9b / totalStockholderEquity, last quarter 22.7b)
Debt / EBITDA = 1.85 (Net Debt 34.4b / EBITDA 18.5b)
Debt / FCF = 4.44 (Net Debt 34.4b / FCF TTM 7.74b)
Total Stockholder Equity = 23.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 15.46% (Net Income 10.1b / Total Assets 67.5b)
RoE = 42.66% (Net Income TTM 10.1b / Total Stockholder Equity 23.7b)
RoCE = 27.30% (EBIT 12.3b / Capital Employed (Equity 23.7b + L.T.Debt 21.3b))
RoIC = 19.63% (NOPAT 11.0b / Invested Capital 56.0b)
WACC = 4.08% (E(111b)/V(149b) * Re(4.68%) + D(37.9b)/V(149b) * Rd(2.62%) * (1-Tc(0.11)))
Discount Rate = 4.68% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.17 | Cagr: 0.15%
[DCF] Terminal Value 76.79% ; FCFF base≈7.43b ; Y1≈8.14b ; Y5≈10.3b
[DCF] Fair Price = 178.2 (EV 157b - Net Debt 34.4b = Equity 123b / Shares 689.1m; r=8.35% [WACC [floored]]; 5y FCF grow 11.13% → 2.50% )
EPS Correlation: 95.20 | EPS CAGR: 14.27% | SUE: -3.84 | # QB: -2
Revenue Correlation: 97.36 | Revenue CAGR: 1.33% | SUE: 0.06 | # QB: 0
EPS current Quarter (2026-09-30): EPS=3.15 | Chg30d=-14.40% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=9.33 | Chg30d=+6.86% | Revisions=-18% | GrowthEPS=+28.4% | GrowthRev=+1.6%
EPS next Year (2027-12-31): EPS=8.69 | Chg30d=-0.44% | Revisions=-18% | GrowthEPS=-6.9% | GrowthRev=+2.1%
[Analyst] Revisions Ratio: -25% (up=6, down=11)