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Telenor ASA
OSE:TEL

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Telenor ASA
OSE:TEL
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Price: 152.5 NOK 1.46% Market Closed
Market Cap: kr208.7B

P/FCFE

12
Current
13%
Cheaper
vs 3-y average of 13.8

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
12
=
Market Cap
kr233B
/
Free Cash Flow to Equity
kr17.5B

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
12
=
Market Cap
kr233B
/
Free Cash Flow to Equity
kr17.5B

Valuation Scenarios

Telenor ASA is trading below its 3-year average

If P/FCFE returns to its 3-Year Average (13.8), the stock would be worth kr175.16 (15% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+72%
Average Upside
45%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 12 kr152.5
0%
3-Year Average 13.8 kr175.16
+15%
5-Year Average 14.3 kr182.4
+20%
Industry Average 20.6 kr262.26
+72%
Country Average 20.6 kr262.26
+72%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
Market Cap P/FCFE P/E
NO
Telenor ASA
OSE:TEL
208.7B NOK 12 29.9
US
Verizon Communications Inc
NYSE:VZ
201.1B USD 6.5 11.6
US
AT&T Inc
NYSE:T
181.9B USD 8.5 8.5
DE
Deutsche Telekom AG
XETRA:DTE
133.4B EUR 8.4 13.9
CN
China Telecom Corp Ltd
SSE:601728
551.8B CNY 12.2 16.7
JP
Nippon Telegraph and Telephone Corp
TSE:9432
12.5T JPY 3.9 11.7
SG
Singapore Telecommunications Ltd
SGX:Z74
75.8B SGD 114.9 12.2
FR
Orange SA
PAR:ORA
47.2B EUR 9 87.8
SA
Saudi Telecom Company SJSC
SAU:7010
189.1B SAR 39.2 12.8
CH
Swisscom AG
SIX:SCMN
34.3B CHF 264.9 27.2
AU
Telstra Corporation Ltd
ASX:TLS
60.4B AUD 13.5 26.7

Market Distribution

In line with most companies in Norway
Percentile
33nd
Based on 416 companies
33nd percentile
12
Low
0.7 — 10.2
Typical Range
10.2 — 30.1
High
30.1 —
Distribution Statistics
Norway
Min 0.7
30th Percentile 10.2
Median 20.6
70th Percentile 30.1
Max 799.2

Telenor ASA
Glance View

Telenor ASA, a renowned name in the telecommunications sector, has long been an innovator in providing connectivity across the globe. Rooted in Norway, the company traces its history back to the 19th century as a pioneer in telegraph services. Today, it stands as a testament to adaptability and strategic foresight, trekking alongside the digital revolution with conviction. As a major telecommunications operator, Telenor seamlessly delivers a variety of services from mobile and fixed-line telephony to broadband and data, supported by robust digital infrastructures. They extend their reach across Scandinavia, Eastern Europe, and Asia, underscoring their influence in emerging markets with a mix of high-tech and local insight. Monetizing its operations, Telenor’s primary revenue stream flows from its vast subscriber base that spans several continents. By providing voice, messaging, and data services, they generate income through monthly subscription fees, prepaid packages, and data consumption charges. A notable portion of their income also comes from value-added services such as digital content, cloud, and cybersecurity solutions. Telenor leverages partnerships and joint ventures in local markets to augment its growth, designing products that cater to the unique needs of diverse populations. Furthermore, their investment in network modernization fosters efficient data management, ensuring a steady stream of revenue and positioning them as a leader in the race toward 5G technology, thus securing their economic position in the global telecommunications landscape.

TEL Intrinsic Value
167.83 NOK
Undervaluation 9%
Intrinsic Value
Price kr152.5
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