Valuation Telenor ASA

Stocks

Market Closed - Oslo Bors 19:45:00 30/10/2026 +04			5-day change	1st Jan Change
131.70 ^NOK	+1.15%		+3.46%	-10.22%

10-30	Goldman Sachs lowers price target for Telenor to 140 Norwegian kroner (145), reiterates neutral - BN	FW
10-29	DNB Carnegie raises target price for Telenor to 166 Norwegian kroner (164), reiterates buy	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	193,965	128,146	161,417	173,578	200,507	178,473	-	-
Change	-	-33.93%	25.96%	7.53%	15.51%	-10.99%	-	-
Enterprise Value (EV) ¹	294,748	226,021	241,198	260,366	282,238	231,271	233,671	233,974
Change	-	-23.32%	6.71%	7.95%	8.4%	-18.06%	1.04%	0.13%
P/E	127x	2.85x	11.8x	9.14x	24.5x	9.62x	15x	13.8x
PBR	7.38x	2.13x	2.5x	2.29x	2.8x	2.63x	2.85x	2.95x
PEG	-	0x	-0.2x	0.2x	-0.4x	0x	-0.4x	1.48x
Capitalization / Revenue	1.76x	1.3x	2.01x	2.17x	2.62x	2.43x	2.46x	2.42x
EV / Revenue	2.67x	2.28x	3x	3.26x	3.69x	3.15x	3.21x	3.17x
EV / EBITDA	6x	5.33x	6.98x	7.44x	8.19x	6.9x	7.04x	6.85x
EV / EBIT	12.7x	11.8x	14.2x	14x	15.7x	11x	13.3x	12.6x
EV / FCF	12.9x	11.3x	16.8x	14.4x	14.6x	14.8x	17x	16.3x
FCF Yield	7.74%	8.82%	5.97%	6.95%	6.84%	6.75%	5.89%	6.14%
Dividend per Share ²	9.3	9.4	9.4	9.6	9.7	9.775	9.89	10.08
Rate of return	6.71%	10.3%	8.06%	7.57%	6.61%	7.42%	7.51%	7.65%
EPS ²	1.09	32.09	9.9	13.88	5.98	13.69	8.757	9.572
Distribution rate	853%	29.3%	94.9%	69.2%	162%	71.4%	113%	105%
Net sales ¹	110,241	98,953	80,452	79,928	76,548	73,457	72,694	73,763
EBITDA ¹	49,162	42,374	34,564	34,980	34,462	33,515	33,178	34,143
EBIT ¹	23,294	19,105	16,964	18,623	17,978	21,078	17,571	18,551
Net income ¹	1,528	44,913	13,734	19,107	8,186	19,898	11,679	12,317
Net Debt ¹	100,783	97,875	79,781	86,788	81,731	52,798	55,198	55,501
Reference price ²	138.60	91.60	116.60	126.90	146.70	131.70	131.70	131.70
Nbr of stocks (in thousands)	1,399,458	1,398,973	1,384,365	1,367,829	1,366,784	1,355,146	-	-
Announcement Date	02/02/22	02/02/23	07/02/24	06/02/25	06/02/26	-	-	-

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	9.62x	3.15x	6.9x	7.42%	19.4B
SPACEX (SPACE EXPLORATION TECHNOLOGIES)	606.87x	37.06x	73.98x	-	1,830B
SOFTBANK GROUP CORP.	33.89x	5.44x	22.57x	0.25%	162B
T-MOBILE US, INC.	14.04x	2.61x	6.63x	2.66%	166B
AT&T INC.	10.69x	2.25x	6.05x	5.18%	144B
BHARTI AIRTEL LIMITED	30.69x	5.56x	9.75x	1.69%	129B
COMCAST CORPORATION	7.89x	1.36x	4.93x	5.71%	82.45B
SOFTBANK CORP.	18.48x	2.14x	8.1x	3.77%	71.3B
KDDI CORPORATION	14.17x	2.33x	7.62x	2.96%	68.56B
VODAFONE GROUP PLC	13.35x	1.42x	4.82x	3.4%	36.74B
Average	75.97x	6.33x	15.13x	3.67%	270.96B
Weighted average by Cap.	416.05x	26.09x	53.17x	3.02%