Eltel AB (ELTEL) fair value: what the stock is really worth
As of Oct 16, 2026: fair value (intrinsic value) of Eltel AB stock SEK 4.22, price SEK 16.65, upside -74.7%, quality 59 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range kr 6.06 – kr 23.55 · fair‑value band kr 2.82 – kr 8.10 · the kr 16.65 price screens above the kr 4.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Eltel AB (publ) operates as an infrastructure and service provider for critical communication and power networks in Finland, Sweden, Norway, Denmark, Lithuania, Germany, and Poland.
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The company designs, builds, maintains, and upgrades power distribution and transmission infrastructure, including turnkey high-voltage projects and network construction; and provides turnkey solutions for smart grids, electric vehicle charging infrastructure, wind farms and solar parks, battery energy storage systems, and data centers.
It also designs, installs, upgrades, and services mobile and fixed communication networks, fixed wireless access, 5G, public and private mobile indoor, and data centers infrastructure.
In addition, the company provides Turvatikas safety ladders; rollouts, upgrade, and corrective maintenance services; and fiber-to-the-home rollouts.
It serves telecom operators and network owners, industrial customers, public sector, and utility companies, as well as national transmission system operators and owners of power distribution grids. Eltel AB (publ) was founded in 2001 is headquartered in Bromma, Sweden.
Stock analysis
Eltel AB (ELTEL) currently trades at kr 16.65, while our model-based Fair Value estimate is kr 4.22, 74.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 11.13 per share, and 3 of the 20 models we run sit above the kr 16.65 price.
Bear case: the Earnings-Based group reads lowest at kr 1.32, and 17 of the 20 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 2.82 (bear) to kr 8.10 (bull), the price of kr 16.65 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Eltel AB reported revenue of €833M in FY2025 versus €813M in FY2021, a compound +0.6%/yr. Reported net income was €2.2M in FY2025, compounding −15.0%/yr from FY2021.
Key figures
Market cap 3.0B SEK (≈ $307M) · P/E ratio 151.4 · P/S ratio 0.41 · EPS (TTM) kr 0.1100 · Net margin 0.3% · Return on equity 2.7% · Return on assets (EBIT) −0.1% · Operating margin 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 103% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 27% fair-value upside, at −75%, ELTEL screens richer than that median.
Fair Value models
Bearkr 2.82Fair Value kr 4.22Bullkr 8.10
Price kr 16.65 · Upside -74.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 0.0874 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+0.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.3%
Start year 2020 (pandemic). Over 10 years: −4.0% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−13.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−13.0% vs −24.9%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 9.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+5.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +3.2% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 235 stocks
Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−74.7% · Bottom 25%
Profitability
Return on equity (12 months)2.7% · Below median
Return on assets0.3% · Below median
Net margin (12 months)0.4% · Below median
Operating margin (12 months)2.8% · Bottom 25%
Growth and dividend
Revenue growth−0.7% · Below median
Balance sheet
Debt / equity0.80× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/E (12 months)151.4× · Priciest 25%
P/B1.92× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.37× · Cheapest 25%
Price / free cash flow12.8× · Pricier than median
EV/EBITDA13.2× · Priciest 25%
PEG0.20× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 48
FUTURE (revenue growth)0· sector 19
PAST (return on equity)11· sector 34
HEALTH (low debt)60· sector 83
DIVIDEND (yield)0· sector 73
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Eltel AB Fair Value". https://www.fairvalue-calculator.com/stock/ELTEL
Frequently asked questions
Is Eltel AB (ELTEL) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 4.22 versus a price of kr 16.65, about −75% upside (overvalued).
What is the fair value of ELTEL?
Our model-based fair value for Eltel AB is kr 4.22 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 16.65.
What is the quality score of ELTEL?
Eltel AB has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Eltel AB (ELTEL)?
Our model-based price target is the fair value of kr 4.22 (as of Oct 2, 2026) from 20 valuation models. Cautious scenario kr 2.82, optimistic scenario kr 8.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Eltel AB stock forecast for 2026?
Our models put fair value at kr 4.22, about −75% upside versus a price of kr 16.65 (overvalued). Cautious scenario kr 2.82, optimistic scenario kr 8.10. The calculation is refreshed regularly with new filings.
What is the revenue of Eltel AB (ELTEL)?
Eltel AB reported trailing-twelve-month revenue of about €838M (latest available figure, as of Oct 2, 2026).
What growth is priced into Eltel AB (ELTEL)?
For today's price to be fair in a discounted-cash-flow model, Eltel AB would have to grow free cash flow by +5.4 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.3 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of ELTEL use?
Our models discount Eltel AB at 11.2 %: a base by market capitalisation (small), damped by beta 1.07, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Eltel AB that is +5.4 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Eltel AB (ELTEL) delivered so far?
Over the past 5 years revenue at Eltel AB grew -2.3 % a year. The price currently implies +5.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Eltel AB (ELTEL) growing?
The median revenue growth in the sector is +7.4 % a year. That is the yardstick for the growth priced into Eltel AB (+5.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Eltel AB (ELTEL)?
The free-cash-flow yield on the price is 10.32 %: that much free cash flow Eltel AB produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Eltel AB (ELTEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eltel AB it is kr 4.22 per share (as of Oct 2, 2026), against a price of kr 16.65. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is Eltel AB stock overvalued or undervalued in 2026?
As of Oct 2, 2026, ELTEL trades above its calculated fair value: price kr 16.65, fair value kr 4.22, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ELTEL?
No. The price is what the market pays today (kr 16.65); the fair value is what the company's own numbers justify (kr 4.22). For Eltel AB the two are kr 12.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Eltel AB worth?
The market values Eltel AB at about 3.0B SEK (market capitalisation, as of Oct 2, 2026). Per share that is kr 16.65; our models calculate a fair value of kr 4.22 per share.
What do the bullish and bearish scenarios say about ELTEL?
Our models span a range for Eltel AB: cautious scenario kr 2.82, base kr 4.22, optimistic kr 8.10 per share (as of Oct 2, 2026, price kr 16.65). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ELTEL?
Eltel AB trades at a price-to-earnings ratio of 151.4 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 4.22 is built from several models across several years. Other multiples: PEG 0.2, P/B 1.9, P/S 0.4, EV/EBITDA 13.2.
What is the PEG ratio of ELTEL?
The PEG ratio of Eltel AB is 0.20 (P/E divided by earnings growth, as of Oct 2, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Eltel AB (ELTEL)?
Balance-sheet figures for Eltel AB (as of Oct 2, 2026): return on equity 2.7%, debt of 0.80 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is ELTEL from its 52-week high?
Eltel AB trades at kr 16.65, about 19% below its 52-week high of kr 20.60 and 103% above the low of kr 8.22 (as of Oct 16, 2026). Distance from the high says nothing about value: that is what the fair value of kr 4.22 is for.
Which stocks are comparable to Eltel AB?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Eltel AB stock attractive at the current price?
The data as of Oct 2, 2026: price kr 16.65, calculated fair value kr 4.22 (−75%), Quality Score 59/100, from 20 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ELTEL calculated?
We run Eltel AB through 20 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 4.22, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7 % above its aggregate fair value. Eltel AB itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Eltel AB (ELTEL)?
The closing price on Oct 16, 2026 was kr 16.65. Our model-based fair value is kr 4.22, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eltel AB right now?
The price sits above even our optimistic bull case (kr 8.10). The favourable scenario is already priced in. The model range is unusually wide (kr 2.82 to kr 8.10). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Eltel AB
How large is the market capitalisation of Eltel AB (ELTEL)?
The market capitalisation of Eltel AB is 3.0B SEK (≈ $307M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Eltel AB (ELTEL)?
The price-to-sales ratio of Eltel AB is 0.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Eltel AB (ELTEL)?
Earnings per share at Eltel AB are kr 0.1100 (price ÷ EPS = P/E 151.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Eltel AB (ELTEL)?
The net margin of Eltel AB is 0.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Eltel AB (ELTEL)?
The return on equity (ROE) of Eltel AB is 2.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Eltel AB (ELTEL)?
On an EBIT basis the return on assets of Eltel AB is −0.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Eltel AB (ELTEL)?
The operating margin of Eltel AB is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eltel AB (ELTEL)?
Revenue at Eltel AB is growing −0.7% versus a year earlier (3y avg +0.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Eltel AB (ELTEL)?
Earnings per share at Eltel AB are growing +13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Eltel AB (ELTEL) carry?
The net debt of Eltel AB is €175M (fiscal year 2025, ≈ 7.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Oct 2, 2026