Financials Deutsche Telekom AG

Equities

DTE

DE0005557508

Integrated Telecommunications Services

Market Closed - Xetra Other stock markets 11:38:36 2026-01-14 EST			After hours 15:59:58
28.11 ^EUR	+0.46%		28.05	-0.21%

01-13	DEUTSCHE TELEKOM AG : UBS reiterates its Buy rating	ZD
01-08	Hiya and Deutsche Telekom Bring Branded Calling At Scale to Germany, Helping Businesses Reach Customers in the Moments That Matter	CI

Projected Income Statement: Deutsche Telekom AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	100,999	108,794	114,413	111,985	115,769	119,194	122,936	127,853
Change	-	7.72%	5.16%	-2.12%	3.38%	2.96%	3.14%	4%
EBITDA ¹	35,017	37,330	40,208	40,497	43,021	44,772	47,211	49,826
Change	-	6.61%	7.71%	0.72%	6.23%	4.07%	5.45%	5.54%
EBIT ¹	15,300	16,749	21,330	23,277	25,853	26,440	28,203	30,915
Change	-	9.47%	27.35%	9.13%	11.07%	2.27%	6.67%	9.61%
Interest Paid ¹	-4,638	-4,601	-4,455	-5,719	-5,686	-5,834	-5,968	-5,960
Earnings before Tax (EBT) ¹	8,677	7,900	11,703	24,957	22,958	19,569	21,577	25,254
Change	-	-8.95%	48.14%	113.25%	-8.01%	-14.76%	10.26%	17.04%
Net income ¹	4,158	4,176	8,001	17,788	11,209	9,245	9,976	11,361
Change	-	0.43%	91.59%	122.32%	-36.99%	-17.52%	7.9%	13.89%
Announcement Date	2/26/21	2/24/22	2/23/23	2/23/24	2/26/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	27,622	26,390	26,593	26,877	28,934	28,023	28,168	28,979	29,800	27,839	27,221	27,556	29,369	27,942	28,394	28,501	30,932	29,755	28,671	28,935	31,529	29,563	29,738	30,079
Change	-	-4.46%	0.77%	1.07%	7.65%	-3.15%	0.52%	2.88%	2.83%	-6.58%	-2.22%	1.23%	6.58%	-4.86%	1.62%	0.38%	8.53%	-3.81%	-3.64%	0.92%	8.97%	-6.24%	0.59%	1.15%
EBITDA ¹	8,952	9,245	9,418	9,661	9,007	11,436	11,476	10,481	9,964	9,963	10,038	10,486	10,010	10,473	10,819	11,096	10,632	11,297	10,999	11,115	10,789	11,499	11,730	12,254
Change	-	3.27%	1.87%	2.58%	-6.77%	26.97%	0.35%	-8.67%	-4.93%	-0.01%	0.75%	4.46%	-4.54%	4.63%	3.3%	2.56%	-4.18%	6.25%	-2.64%	1.05%	-2.94%	6.59%	2.01%	4.46%
EBIT ¹	3,538	4,036	4,347	4,441	3,925	5,140	5,100	5,772	5,318	5,540	5,848	6,306	5,583	6,208	6,535	6,881	6,229	6,883	6,810	6,775	6,242	6,713	6,981	7,541
Change	-	14.08%	7.71%	2.16%	-11.62%	30.96%	-0.78%	13.18%	-7.87%	4.17%	5.56%	7.83%	-11.47%	11.19%	5.27%	5.29%	-9.48%	10.5%	-1.06%	-0.51%	-7.87%	7.55%	4%	8.01%
Charge d'intérêts	-1,240	-	-	-	-1,139	-908	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	1,844	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	1,671	936	1,879	889	471	3,949	1,460	1,578	1,014	15,360	-	1,924	-1,035	1,982	2,088	2,957	4,182	2,845	2,615	2,427	2,024	-	-	-
Change	-	-43.99%	100.75%	-52.69%	-47.02%	738.43%	-63.03%	8.08%	-35.74%	1,414.79%	-	-	-153.79%	291.5%	5.35%	41.62%	41.43%	-31.97%	-8.08%	-7.19%	-16.62%	-	-	-
Announcement Date	2/26/21	5/12/21	8/12/21	11/12/21	2/24/22	5/13/22	8/11/22	11/10/22	2/23/23	5/11/23	8/10/23	11/9/23	2/23/24	5/16/24	8/8/24	11/14/24	2/26/25	5/15/25	8/7/25	11/13/25	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2024 S1	2025 S1
Net sales ¹	56,337	58,427
Change	-	3.71%
EBITDA ¹	21,292	22,297
Change	-	4.72%
EBIT	12,743	-
Change	-	-
Charge d'intérêts	-	-
Earnings before Tax (EBT)	-	-
Change	-	-
Net income ¹	4,070	5,460
Change	-	34.15%
Announcement Date	8/8/24	8/7/25

¹EUR in Million

Estimates

Forecast Balance Sheet: Deutsche Telekom AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	120,200	132,142	142,425	132,279	137,327	130,693	125,079	121,180
Change	-	9.94%	7.78%	-7.12%	3.82%	-4.83%	-4.3%	-3.12%
Announcement Date	2/26/21	2/24/22	2/23/23	2/23/24	2/26/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Deutsche Telekom AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	18,694	26,365	16,563	13,471	15,819	16,505	16,516	16,486
Change	-	41.03%	-37.18%	-18.67%	17.43%	4.33%	0.07%	-0.18%
Free Cash Flow (FCF) ¹	5,049	8,810	11,500	16,141	19,156	18,816	19,234	20,936
Change	-	74.49%	30.53%	40.36%	18.68%	-1.77%	2.22%	8.85%
Announcement Date	2/26/21	2/24/22	2/23/23	2/23/24	2/26/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Deutsche Telekom AG

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	34.67%	34.31%	35.14%	36.16%	37.16%	37.56%	38.4%	38.97%
EBIT Margin (%)	15.15%	15.4%	18.64%	20.79%	22.33%	22.18%	22.94%	24.18%
EBT Margin (%)	8.59%	7.26%	10.23%	22.29%	19.83%	16.42%	17.55%	19.75%
Net margin (%)	4.12%	3.84%	6.99%	15.88%	9.68%	7.76%	8.11%	8.89%
FCF margin (%)	5%	8.1%	10.05%	14.41%	16.55%	15.79%	15.65%	16.37%
FCF / Net Income (%)	121.43%	210.97%	143.73%	90.74%	170.9%	203.53%	192.81%	184.28%
Profitability
ROA	2.62%	2.15%	3.13%	2.7%	3.16%	3.72%	3.92%	4.18%
ROE	16.9%	14.92%	19.91%	15.05%	15.63%	14.61%	15.72%	17.01%
Financial Health
Leverage (Debt/EBITDA)	3.43x	3.54x	3.54x	3.27x	3.19x	2.92x	2.65x	2.43x
Debt / Free cash flow	23.81x	15x	12.38x	8.2x	7.17x	6.95x	6.5x	5.79x
Capital Intensity
CAPEX / Current Assets (%)	18.51%	24.23%	14.48%	12.03%	13.66%	13.85%	13.46%	13.02%
CAPEX / EBITDA (%)	53.39%	70.63%	41.19%	33.26%	36.77%	36.86%	34.98%	33.09%
CAPEX / FCF (%)	370.25%	299.26%	144.03%	83.46%	82.58%	87.71%	85.87%	78.75%
Items per share
Cash flow per share ¹	5.006	6.684	7.204	7.486	8.075	4.83	6.717	7.091
Change	-	33.53%	7.78%	3.91%	7.88%	-40.19%	39.08%	5.57%
Dividend per Share ¹	0.6	0.64	0.7	0.77	0.9	1.002	1.145	1.288
Change	-	6.67%	9.37%	10%	16.88%	11.31%	14.33%	12.45%
Book Value Per Share ¹	7.545	8.56	9.738	11.43	12.92	13.94	14.18	14.95
Change	-	13.45%	13.76%	17.42%	12.97%	7.91%	1.73%	5.43%
EPS ¹	0.88	0.87	1.612	3.57	2.27	1.877	2.072	2.403
Change	-	-1.14%	85.33%	121.41%	-36.41%	-17.31%	10.4%	15.98%
Nbr of stocks (in thousands)	4,742,934	4,743,456	4,971,941	4,972,701	4,898,512	4,753,303	4,753,303	4,753,303
Announcement Date	2/26/21	2/24/22	2/23/23	2/23/24	2/26/25	-	-	-