Hellenic Telecommunications Organization S.A (HTO) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Hellenic Telecommunications Organization S.A stock €19.48, price €19.27, upside +1.1%, quality 77 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?Yes
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range €11.58 – €20.40 · fair‑value band €14.58 – €24.36 · the €19.27 price screens below the €19.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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Hellenic Telecommunications Organization S.A. provides telecommunications and related services to businesses and individuals primarily in Greece and Romania. It operates through OTE, COSMOTE Group, and Telekom Romania Mobile segments.
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The company offers fixed-line, Internet access, ICT, and TV production services; and international carrier services.
It also provides mobile and satellite telecommunication, electronic money, e-commerce, financing, consultancy and security, real estate, insurance brokerage, training, wholesale telephony, retail, marketing, overdue accounts management, wholesale broadband, and infrastructure services.
Hellenic Telecommunications Organization S.A. was incorporated in 1949 and is based in Athens, Greece.
Stock analysis
Hellenic Telecommunications Organization S.A (HTO) currently trades at €19.27, while our model-based Fair Value estimate is €19.48, so the stock looks roughly fairly valued today (gap 1.1%).
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Valuation
Bull case: the Multiples group reads highest at a median of €24.36 per share, and 11 of the 24 models we run sit above the €19.27 price.
Bear case: the Asset-Based group reads lowest at €2.18, and 13 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €14.58 (bear) to €24.36 (bull), the price of €19.27 sits inside 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 77/100 (high quality), in the Communication Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Hellenic Telecommunications Organization S.A reported revenue of €3.5B in FY2025 versus €3.4B in FY2021, a compound +0.7%/yr. Reported net income was €501M in FY2025, compounding −2.6%/yr from FY2021.
Key figures
Market cap €7.6B Mid · P/E ratio 10.7 · P/S ratio 1.55 · EPS (TTM) €1.80 · Dividend yield 4.6% · Net margin 14.5% · Return on equity 38.2% · Return on assets (EBIT) 14.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 42% fair-value upside, at 1%, HTO screens richer than that median.
Fair Value models
Bear€14.58Fair Value €19.48Bull€24.36
Price €19.27 · Upside +1.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.7578 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
+3.9%
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.
+0.1%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: −1.2% a year
Revenue growth 27 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.
+0.7%
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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.
+14.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.6%
Dividend (yield on the price)4.6%
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.9.6% vs 14.8%, slowing
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.10% → 24%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+5.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +3.3% a year for the price and −1.5% for the forecasts.
AI conclusion: Leading fiber-to-the-home coverage supports gains from higher-speed demand, while limited moat signals and new wholesale entrants constrain overall durability.
Main risk: New infrastructure players such as DEH FiberGrid expanding networks and entering wholesale threaten to reduce capture of higher-speed demand and wholesale revenue.
OTE leads in fiber-to-the-home coverage and is preparing commercial services up to 8 Gbps next year. At the same time new infrastructure players such as DEH FiberGrid are rapidly expanding their own networks and entering wholesale. Will its network edge and execution let the company gain more from higher-speed demand than it cedes to these entrants?
Compare Hellenic Telecommunications Organization S.A with another stock
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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 · 238 stocks
Beats the industry median on 10/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+1.1% · Below median
Profitability
Return on equity (12 months)38.2% · Top 25%
Return on assets9.9% · Top 25%
Net margin (12 months)15.8% · Top 25%
Operating margin (12 months)24.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−2.2% · Below median
Dividend yield (12 months)4.6% · Above median
Balance sheet
Debt / equity0.17× · Below median
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Is Hellenic Telecommunications Organization S.A (HTO) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of €19.48 versus a price of €19.27, about +1% upside (fairly valued).
What is the fair value of HTO?
Our model-based fair value for Hellenic Telecommunications Organization S.A is €19.48 (as of Oct 22, 2026), built from audited fundamentals. The current price: €19.27.
What is the quality score of HTO?
Hellenic Telecommunications Organization S.A has a Quality Score of 77/100. 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 Hellenic Telecommunications Organization S.A (HTO)?
Our model-based price target is the fair value of €19.48 (as of Oct 22, 2026) from 24 valuation models. Cautious scenario €14.58, optimistic scenario €24.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Hellenic Telecommunications Organization S.A stock forecast for 2026?
Our models put fair value at €19.48, about +1% upside versus a price of €19.27 (fairly valued). Cautious scenario €14.58, optimistic scenario €24.36. The calculation is refreshed regularly with new filings.
What is the revenue of Hellenic Telecommunications Organization S.A (HTO)?
Hellenic Telecommunications Organization S.A reported trailing-twelve-month revenue of about €3.5B (latest available figure, as of Oct 22, 2026).
Does Hellenic Telecommunications Organization S.A pay a dividend?
Hellenic Telecommunications Organization S.A currently shows a dividend yield of 4.56% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Hellenic Telecommunications Organization S.A (HTO)?
For today's price to be fair in a discounted-cash-flow model, Hellenic Telecommunications Organization S.A would have to grow free cash flow by +5.5 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.2 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of HTO use?
Our models discount Hellenic Telecommunications Organization S.A at 10.9 %: a base by market capitalisation (mid), damped by beta 0.18, country premium for Greece. 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 Hellenic Telecommunications Organization S.A that is +5.5 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Hellenic Telecommunications Organization S.A (HTO) delivered so far?
Over the past 5 years revenue at Hellenic Telecommunications Organization S.A grew +1.2 % a year. The price currently implies +5.5 % 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 Hellenic Telecommunications Organization S.A (HTO) growing?
The median revenue growth in the sector is +3.5 % a year. That is the yardstick for the growth priced into Hellenic Telecommunications Organization S.A (+5.5 % 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 Hellenic Telecommunications Organization S.A (HTO)?
The free-cash-flow yield on the price is 7.48 %: that much free cash flow Hellenic Telecommunications Organization S.A produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hellenic Telecommunications Organization S.A (HTO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hellenic Telecommunications Organization S.A it is €19.48 per share (as of Oct 22, 2026), against a price of €19.27. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hellenic Telecommunications Organization S.A stock overvalued or undervalued in 2026?
As of Oct 22, 2026, HTO trades below its calculated fair value: price €19.27, fair value €19.48, a gap of about +1% (fairly valued). 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 HTO?
No. The price is what the market pays today (€19.27); the fair value is what the company's own numbers justify (€19.48). For Hellenic Telecommunications Organization S.A the two are €0.2100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hellenic Telecommunications Organization S.A worth?
The market values Hellenic Telecommunications Organization S.A at about €7.6B (market capitalisation, as of Oct 22, 2026). Per share that is €19.27; our models calculate a fair value of €19.48 per share.
What do the bullish and bearish scenarios say about HTO?
Our models span a range for Hellenic Telecommunications Organization S.A: cautious scenario €14.58, base €19.48, optimistic €24.36 per share (as of Oct 22, 2026, price €19.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HTO?
Hellenic Telecommunications Organization S.A trades at a price-to-earnings ratio of 10.7 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €19.48 is built from several models across several years. Other multiples: PEG 1.3, P/B 3.6, P/S 2.2, EV/EBITDA 6.1.
What is the PEG ratio of HTO?
The PEG ratio of Hellenic Telecommunications Organization S.A is 1.34 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Hellenic Telecommunications Organization S.A (HTO)?
Balance-sheet figures for Hellenic Telecommunications Organization S.A (as of Oct 22, 2026): return on equity 38.2%, debt of 0.17 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is HTO from its 52-week high?
Hellenic Telecommunications Organization S.A trades at €19.27, about 6% below its 52-week high of €20.40 and 22% above the low of €15.77 (as of Oct 26, 2026). Distance from the high says nothing about value: that is what the fair value of €19.48 is for.
Which stocks are comparable to Hellenic Telecommunications Organization S.A?
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 Hellenic Telecommunications Organization S.A stock attractive at the current price?
The data as of Oct 22, 2026: price €19.27, calculated fair value €19.48 (+1%), Quality Score 77/100, from 24 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 HTO calculated?
We run Hellenic Telecommunications Organization S.A through 24 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 €19.48, 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 12.7 % above its aggregate fair value. Hellenic Telecommunications Organization S.A currently trades 1 % below its own fair value, and the market average says nothing about that. 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 Hellenic Telecommunications Organization S.A (HTO)?
The closing price on Oct 26, 2026 was €19.27. Our model-based fair value is €19.48, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hellenic Telecommunications Organization S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Hellenic Telecommunications Organization S.A (HTO) come from?
Earnings per share at Hellenic Telecommunications Organization S.A grew +13.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin +7.5 %, tax rate +3.3 %, residual (interest, one-offs) +2.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hellenic Telecommunications Organization S.A
How large is the market capitalisation of Hellenic Telecommunications Organization S.A (HTO)?
The market capitalisation of Hellenic Telecommunications Organization S.A is €7.6B. 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 Hellenic Telecommunications Organization S.A (HTO)?
The price-to-sales ratio of Hellenic Telecommunications Organization S.A is 1.55 (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 Hellenic Telecommunications Organization S.A (HTO)?
Earnings per share at Hellenic Telecommunications Organization S.A are €1.80 (price ÷ EPS = P/E 10.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hellenic Telecommunications Organization S.A (HTO)?
The dividend yield of Hellenic Telecommunications Organization S.A is 4.6% (payout 48.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hellenic Telecommunications Organization S.A (HTO)?
The net margin of Hellenic Telecommunications Organization S.A is 14.5% (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 Hellenic Telecommunications Organization S.A (HTO)?
The return on equity (ROE) of Hellenic Telecommunications Organization S.A is 38.2% (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 Hellenic Telecommunications Organization S.A (HTO)?
On an EBIT basis the return on assets of Hellenic Telecommunications Organization S.A is 14.8% (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 Hellenic Telecommunications Organization S.A (HTO)?
The operating margin of Hellenic Telecommunications Organization S.A is 24.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hellenic Telecommunications Organization S.A (HTO)?
Revenue at Hellenic Telecommunications Organization S.A is growing −2.2% versus a year earlier (3y avg +0.1%). 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 Hellenic Telecommunications Organization S.A (HTO)?
Earnings per share at Hellenic Telecommunications Organization S.A are growing −4.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hellenic Telecommunications Organization S.A (HTO) carry?
The net debt of Hellenic Telecommunications Organization S.A is €329M (fiscal year 2025, ≈ 0.6 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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Oct 22, 2026