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Telia Company (TELIA) Fair Value & Analysis

Communication Services · SE · Market cap 182B SEK

TC Telia Company TELIA · ST
Pricekr 43.61
Fair Valuekr 19.55
Upside-55.2%
Quality48/100
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Weak Growth
Thin margins · 5.8% net margin
Moderate debt · generates free cash flow
4.38% dividend yield
Mixed vs. peers (6/15)
Moderate moat 45/100
Evidence: High Range kr 11.33 – kr 24.44 Share as image

Fair value as of: Jul 16, 2026

From 22 valuation models · updated 25 days ago

Share price −3.8% over the past month.

Below-average quality, and screening another 55% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 24.44). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (kr 11.33 to kr 24.44) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

kr 51.68 kr 17.75 Fair Value kr 19.55 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range kr 17.75 – kr 51.68 · fair‑value band kr 11.33 – kr 24.44 · the kr 43.61 price screens above the kr 19.55 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Telia Company (TELIA) currently trades at kr 43.61, while our model-based Fair Value estimate is kr 19.55, implying the stock looks roughly 55.2% overvalued today. The Quality Score stands at 48/100 (below-average 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, Telia Company generated revenue of 80.9B SEK at a net margin of 5.8%. Revenue declined 0.3% year over year. It earns a return on equity of 9.1%. Net debt stands at 90.4B SEK. Fundamentals as of Jul 16, 2026

Our scenario range runs from kr 11.33 (bear case) to kr 24.44 (bull case); at kr 43.61, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 15% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -55%, TELIA screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 19.40 kr 31.28 kr 51.62 80
Residual Income kr 10.48 kr 10.99 kr 11.67 76
Rev-Margin DCF kr 12.80 kr 24.62 kr 39.22 74
All 22 models by family
DCF Models
FCF DCF kr 17.94 kr 30.19 kr 52.88 38
Owner Earnings kr 12.97 kr 23.27 kr 42.34 31
5Y Revenue Exit kr 12.80 kr 23.89 kr 40.00 39
5Y EBITDA Exit kr 38.33 kr 68.09 kr 107.51 41
5Y P/E Exit kr 6.48 kr 12.95 kr 20.75 38
10Y Revenue Exit kr 13.92 kr 22.38 kr 31.36 36
10Y EBITDA Exit kr 30.07 kr 49.71 kr 70.99 37
10Y P/E Exit kr 10.74 kr 15.61 kr 20.06 35
Earnings-Based
Graham-Dodd kr 6.04 kr 7.39 kr 8.31 54
EPV kr 9.26 kr 13.01 kr 16.29 59
Multiples
P/E Multiple kr 14.66 kr 19.55 kr 24.44 63
P/S Multiple kr 11.33 kr 15.11 kr 18.88 58
P/B Multiple kr 11.33 kr 15.11 kr 18.88 55
EV/EBIT kr 19.59 kr 30.53 kr 41.48 53
EV/EBITDA kr 61.95 kr 87.02 kr 112.09 54
EV/Revenue kr 11.65 kr 22.32 kr 33.00 43
Asset-Based
NCAV (Graham) kr 6.49 kr 8.70 kr 12.99 50
Growth DCF
Growth DCF kr 19.40 kr 31.28 kr 51.62 80
Rev-Margin DCF kr 12.80 kr 24.62 kr 39.22 74
Economic Profit
Residual Income kr 10.48 kr 10.99 kr 11.67 76
ROIC Compounder kr 9.26 kr 13.01 kr 17.36 72
Growth Earnings
Growth-Adj P/E kr 10.34 kr 14.76 kr 19.19 68

Widest divergence: Growth DCF (kr 24.62) versus Earnings-Based (kr 7.39). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 80.9B SEK
Revenue growth (YoY) -0.3%
Net margin 5.8%
Return on equity 9.1%
Free cash flow 12.6B SEK FY2025
P/E ratio 40.9
More key figures
Operating margin 15.6%
EPS (TTM) kr 1.18
Dividend yield 4.2%
EPS growth (YoY) +226%
Net debt 90.4B SEK FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 66

Profitability 27
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Telia Company AB (publ) provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Full company description

Telia Company AB (publ) provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia. It offers mobile, broadband, television, and fixed-line services; and networking, cloud and security, mobility, enterprise mobile network, contact center, managed mobility services, collaboration solutions, and telephony. The company also offers Internet of Things (IoT), broadband services via mobile network and fiber, LAN and WiFi, SD-WAN, mobile LAN, dedicated private networks, and data analysis services, as well as colocation solutions. In addition, it provides smart public transport, and smart utilities, as well as transport and logistics solutions comprising connected vehicle, GPS positioning, and fleet management services. It also provides data communication and security solutions to individuals and companies. The company markets its products and services under the Telia, Telia Cygate, TV4, Halebop, Fello, MTV, Phonero, Onecall, MyCall, Ezys, and Diil brand names for transport and logistics, forestry, healthcare and community, agriculture, and energy and mining, as well as manufacturing industries. Telia Company AB (publ) was formerly known as TeliaSonera AB (publ) and changed its name to Telia Company AB (publ) in April 2016. The company was founded in 1853 and is based in Solna, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Telia Company reported revenue of kr 81.0B in FY2025 versus kr 88.3B in FY2021, a compound −2.2%/yr. Reported net income was kr 3.5B in FY2025, compounding −26.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
81.0B SEK
Latest YoY
−9.1%
Avg. growth/yr (3Y)
−3.8%
Avg. growth/yr (5Y)
−1.9%
Avg. growth/yr (25Y)
+1.6%
Revenue −2.2%/yr
FY21 kr 88.3B
FY22 kr 90.8B
FY23 kr 88.8B
FY24 kr 89.1B
FY25 kr 81.0B
Net income −26.0%/yr
FY21 kr 11.7B
FY22 −kr 14.2B
FY23 kr 303M
FY24 kr 7.1B
FY25 kr 3.5B

TELIA screens 55% overvalued. Compare with China Mobile Limited →

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Cite: Fair Value Calculator (2026). "Telia Company Fair Value". https://www.fairvalue-calculator.com/stock/TELIA

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Telecom Services · 252 stocks

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.

Quality Score 48 · Below median
Fair Value upside −55% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 16% · Above median
Revenue growth -0% · Below median
Dividend yield (TTM) 4.4% · Above median
Debt / equity 1.25× · Higher than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 39.1× · Pricier than 75% of peers
P/B 3.55× · Pricier than 75% of peers
P/S (TTM) 2.24× · Pricier than median
P/FCF 1.5× · Cheaper than median
EV/EBITDA 8.9× · Pricier than median
PEG 2.48× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 30
FUTURE 0 · sector 15
PAST 37 · sector 28
HEALTH 38 · sector 89
DIVIDEND 88 · sector 72

VALUE 0: the price sits above our fair-value range.

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Telia Company (TELIA) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of kr 19.55 versus a price of kr 43.61, about −55% (overvalued).
What is the fair value of TELIA?
Our model-based fair value for Telia Company is kr 19.55 (as of Jul 16, 2026), built from audited fundamentals. The current price is kr 43.61.
What is the quality score of TELIA?
Telia Company has a Quality Score of 48/100. 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 revenue of Telia Company (TELIA)?
Telia Company reported trailing-twelve-month revenue of about 80.9B SEK (latest available figure, as of Jul 16, 2026).
What is the net profit margin of TELIA?
The net profit margin of Telia Company is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.
Does Telia Company pay a dividend?
Telia Company currently shows a dividend yield of about 4.19% relative to its recent price (as of Jul 16, 2026).

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.

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