Telenor stock
TEL.OLOSLTelenor ASA, Communication ServicesISIN NO0010063308
63Score 63 out of 100, Neutral
Price and trend
52 / 100
Price history
−7.2% in one yearThe chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Below the 200-day line: the price is 8.0% below it.
Since June 2026 the 50-day line has been below the 200-day line; the trend has turned down.
Overheated: the price has risen very quickly lately (RSI 79).
The price is 23% below its 52-week high. Largest decline in 20 years: 76% (December 2007 to October 2008).
Chart figures for advanced users
- SMA 50$13.65
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$15.50
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)79
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$13.02
- The lowest closing price of the last twelve months.
- Resistance$18.57
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Telenor ASA belongs to the Telecommunications Services industry (Norway) and, with a market value of $19.49B, is number 24 of 90 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $8.02B (down 4.2% year on year) and earnings of $731.07M (down 62%).
- For fiscal 2026, analysts expect on average revenue of $7.71B (down 4%) and adjusted earnings per share of $1.05 (up 22.5%).
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- MEQIRI Score 63 out of 100 (Neutral): rank 85 of 232 in Communication Services, median 58.
- The P/E is 8 (Telecommunications Services median 16, own median of recent years 18).
- Our model puts fair value at $25.04, with the price 43% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- High dividend yieldDividend yield 7.12%, Telecommunications Services median 4.3%.Capital allocation 68
- Modestly valuedP/E 8, Telecommunications Services median 16, own median 18.Valuation 93
- High marginNet margin 26.5% over the last 12 months, Telecommunications Services median 7.4%.Profitability 83
Weaknesses
- Revenue shrinkingRevenue down 9% a year since 2020.Growth 23
Its standout strengths are valuation and fundamentals, while momentum and growth hold the score back.
Daily figure as of 12 Nov 2026
How the score is calculatedScore overview
Fundamentals are strong, with stable profits and strong cash generation.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk medium
How well MEQIRI warnsIn the middle among stocks ranked 101 to 1,000.
From 2016 to 2025, 13 in 100 such stocks fell 30% or more within a year, against a group average of 15 in 100.
What lowers it
- solid fundamentals
- low growth grade (crashed less often in the backtest)
Valuation
Valuation signal
Possible value trapClosing price of 11 Nov 2026, used by the daily score.
In our model the price counts as cheap below $20.87 and expensive above $31.30 (uncertainty low, based on the price swings of the past year).
The two parts of the fair value come to $21.57 (cash-flow model) and $28.50 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 8.5%. At 9.5% the fair value would be $23.35, at 7.5% it would be $27.56.
Possible value trap: looks cheap, but weak growth.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (16).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue fell 4.5% on the twelve months before. Revenue has stayed largely stable since 2006.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 43%, operating 23%, net not measured.
Debt & balance sheet
latest quarterDebt is elevated. Keep an eye on the interest burden and refinancing.
Earnings
- Next earnings
- 3 Feb 2027in 83 days
- Last reported
- 28 Oct 2026EPS reported $0.27 (expected $0.23)above expectations
Analyst estimates
Earnings estimates have barely changed since 15 Oct 2026.
- Earnings per share
- $1.05−1.2%
- Revenue
- $7.71B−0.3%
- Earnings per share
- $0.98−2.0%
- Revenue
- $7.61B−1.5%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook confirmed
Share price after the results: +3.4%Telenor reaffirms its full year 2026 outlook with flat to low single-digit growth in service revenue and EBITDA, and capex of around 14% of sales.
“For the 4 Nordic telcos in aggregate, excluding the Q2 TVVAT items, we continue to expect flat to low single-digit growth in both service revenues and EBITDA with CapEx to sales of around 14%.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 28 Oct 2026 (fiscal Q3 2026), read by AI.
What happened at Telenor
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
232 rated companies in Communication Services
- This company
- 63
- Sector median
- 58
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Telecommunications Services
The next larger and next smaller companies by market value
- China Tower0788.HK $20.3B55
- BCEBCE $20.06B60
- China United Network Communications600050.SS $19.91B45
- Telefônica BrasilVIV $19.7B63
- TeliaTELIA.ST $19.39B55
- Cellnex TelecomCLNX.MC $19.36B42
- Koninklijke KPNKPN.AS $18.4B69
- Charter CommunicationsCHTR $18.37B49
ETFs that hold Telenor
Held by 122 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| Franklin European Quality Dividend UCITS ETFFLXD | 2.46% | 0.25% | €681.62M |
| iShares STOXX Europe 600 Telecommunications UCITS ETF (DE)EXV2 | 2.34% | 0.46% | €256.65M |
| Xtrackers MSCI Europe Communication Services Screened UCITS ETF 1CDXSG | 2.09% | 0.17% | €15.77M |
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| State Street SPDR MSCI Europe Communication Services UCITS ETFSPYT | 2.01% | 0.18% | €72.29M |
| Ossiam Europe ESG Machine LearningOSX4 | 1.10% | 0.65% | €67.94M |
| Fidelity Europe Quality Income UCITS ETF INC-EURFEUI | 0.81% | 0.30% | €75.09M |
| iShares Edge MSCI Europe Minimum Volatility Advanced UCITS ETFMVEE | 0.80% | 0.25% | €53.16M |
| iShares MSCI Europe Quality Dividend Advanced UCITS ETFQDVX | 0.72% | 0.28% | €956.01M |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 11 Nov 2026 ($1 = NOK 9.5394)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 4 Jul 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.