Telenor ASA (TEL) Fair Value & Analysis
Communication Services · NO · Market cap 207B NOK
Fair value as of: Jun 24, 2026
From 24 valuation models · updated 5 days ago
Share price −5.3% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 137.85 – kr 172.54 · fair‑value band kr 84.82 – kr 167.56 · the kr 143.80 price screens above the kr 117.21 fair value. As of Jun 24, 2026.
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Telenor ASA (TEL) currently trades at kr 143.80, while our model-based Fair Value estimate is kr 117.21 — implying the stock looks roughly 18.5% overvalued today. We read business quality at 92/100 (high quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).
Over the trailing twelve months, Telenor ASA generated revenue of 76.3B NOK at a net margin of 17.1%. Revenue declined 1.4% year over year. It earns a return on equity of 22.5%. Net debt stands at 69.3B NOK. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
Telenor ASA, together with its subsidiaries, operates as a telecommunication company worldwide. It operates through four segments: Nordics, Asia, Infrastructure, and Amp. The company offers mobile and broadband telecom products and services, including mobile, broadband and TV services; other services, including solutions for business customers like managed services, virtual private networks, software defined networks, and network as a service; IoT solutions; and mobile maritime communication for cruise and ferry, fisheries, and oil and gas industry. It also provides hardware comprising mobile phones, broadband modems, and TV boxes; wholesale services, such as national and international roaming and interconnect, and solutions for mobile and fixed virtual network operators and service providers, as well as leased lines and colocation at towers and data centres. In addition, the company provides cloud storage service for private use and businesses that allows to back up, store, synchro…
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Telenor ASA reported revenue of kr 76.5B in FY2025 versus kr 110B in FY2021, a compound −8.7%/yr. Reported net income was kr 7.0B in FY2025, compounding −11.3%/yr from FY2021.
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6 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥91.93 | ¥96.98 | +5% |
| SoftBank Group SFTBF | $44.85 | $68.21 | +52% |
| T-Mobile US, Inc TM5 | €158.74 | €267.43 | +68% |
| Verizon Communications Inc BAC | €39.83 | €66.07 | +66% |
| AT&T Inc SOBA | €19.54 | €45.50 | +133% |
| Deutsche Telekom AG DTE | €26.12 | €44.50 | +70% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.