Valuation Telenor ASA

Equities

Market Closed - Oslo Bors Other stock markets 10:45:00 2025-06-20 EDT			5-day change	1st Jan Change
153.70 ^NOK	-0.84%		+0.79%	+21.12%

06-10	Telenor is said to be ready to pick up Tre in Sweden after the EU changed its stance - Di	FW
06-02	Telenor ASA (OB:TEL) commences an Equity Buyback Plan for 10,000,000 shares, representing 0.73% of its issued share capital, under the authorization approved on May 21, 2025.	CI

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	201,293	193,965	128,146	161,417	173,578	210,099	-	-
Change	-	-3.64%	-33.93%	25.96%	7.53%	21.04%	-	-
Enterprise Value (EV) ¹	311,693	294,748	226,021	241,198	260,366	293,744	292,797	290,013
Change	-	-5.44%	-23.32%	6.71%	7.95%	12.82%	-0.32%	-0.95%
P/E ratio	11.8x	127x	2.85x	11.8x	9.14x	18.9x	16x	14.6x
PBR	5.33x	7.38x	2.13x	2.5x	2.29x	2.95x	2.96x	2.9x
PEG	-	-1.4x	0x	-0.2x	0.2x	-0.5x	0.9x	1.58x
Capitalization / Revenue	1.64x	1.76x	1.3x	2.01x	2.17x	2.59x	2.54x	2.5x
EV / Revenue	2.54x	2.67x	2.28x	3x	3.26x	3.62x	3.54x	3.46x
EV / EBITDA	5.51x	6x	5.33x	6.98x	7.44x	8.15x	7.84x	7.48x
EV / EBIT	11.3x	12.7x	11.8x	14.2x	14x	15.4x	14.2x	13.1x
EV / FCF	13.8x	12.9x	11.3x	16.8x	14.4x	18.1x	19.2x	16.8x
FCF Yield	7.25%	7.74%	8.82%	5.97%	6.95%	5.54%	5.2%	5.96%
Dividend per Share ²	9	9.3	9.4	9.4	9.6	9.646	9.799	9.913
Rate of return	6.17%	6.71%	10.3%	8.06%	7.57%	6.28%	6.38%	6.45%
EPS ²	12.32	1.09	32.09	9.9	13.88	8.118	9.628	10.52
Distribution rate	73.1%	853%	29.3%	94.9%	69.2%	119%	102%	94.3%
Net sales ¹	122,811	110,241	98,953	80,452	79,928	81,102	82,658	83,920
EBITDA ¹	56,520	49,162	42,374	34,564	34,980	36,022	37,362	38,762
EBIT ¹	27,463	23,294	19,105	16,964	18,623	19,049	20,596	22,116
Net income ¹	17,341	1,528	44,913	13,734	19,107	11,165	13,185	14,537
Net Debt ¹	110,400	100,783	97,875	79,781	86,788	83,644	82,698	79,914
Reference price ²	145.90	138.60	91.60	116.60	126.90	153.70	153.70	153.70
Nbr of stocks (in thousands)	1,379,663	1,399,458	1,398,973	1,384,365	1,367,829	1,366,944	-	-
Announcement Date	2/2/21	2/2/22	2/2/23	2/7/24	2/6/25	-	-	-

¹NOK in Million²NOK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
TELENOR ASA	18.93x	3.62x	8.15x	6.28%	20.76B
T-MOBILE US, INC.	20.66x	3.78x	9.74x	1.64%	252B
AT&T INC.	12.3x	2.52x	6.8x	4%	200B
SOFTBANK GROUP CORP.	20.22x	3.83x	17.22x	0.49%	87.86B
KDDI CORPORATION	12.39x	2.05x	6.75x	3.32%	62.96B
CHINA UNICOM (HONG KONG) LIMITED	11.71x	0.54x	2.11x	5.48%	35.86B
VODAFONE GROUP PLC	12.36x	1.26x	4.28x	5.23%	25.36B
ADVANCED INFO SERVICE	19.43x	4.46x	8.35x	4.67%	24.4B
VODACOM GROUP LIMITED	12.8x	1.83x	4.86x	5.75%	14.06B
TAIWAN MOBILE CO., LTD.	23.93x	1.92x	9.69x	4.03%	12.02B
Average	16.47x	2.58x	7.80x	4.09%	73.46B
Weighted average by Cap.	16.71x	3.00x	8.83x	2.95%