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Telenor stock: key metrics
TEL.OLTelenor had an operating margin of 23.5% and a return on invested capital (ROIC) of 7.7% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 75.2% | 19.4% | no data |
| 2007 | 71.9% | 16.2% | 19.5% |
| 2008 | 72.9% | 15.6% | 13.4% |
| 2009 | 74.2% | 13.6% | no data |
| 2010 | 72.3% | 13.2% | no data |
| 2011 | 72.0% | 15.0% | 7.3% |
| 2012 | 71.3% | 9.5% | 9.9% |
| 2013 | 72.6% | 20.5% | 8.4% |
| 2014 | 72.9% | 23.5% | 8.5% |
| 2015 | 72.6% | 17.8% | 2.7% |
| 2016 | 74.1% | 13.0% | 2.2% |
| 2017 | 75.1% | 21.4% | 9.6% |
| 2018 | 76.3% | 20.0% | no data |
| 2019 | 75.4% | 22.6% | 10.5% |
| 2020 | 75.8% | 24.0% | 14.1% |
| 2021 | 73.5% | 19.5% | no data |
| 2022 | 73.3% | 14.2% | no data |
| 2023 | 64.4% | 21.1% | no data |
| 2024 | 65.9% | 23.3% | 22.9% |
| 2025 | 43.1% | 23.5% | no data |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | no data | 13.9% | no data |
| 2007 | 26.2% | 11.9% | 11.2% |
| 2008 | 16.1% | 9.4% | 7.0% |
| 2009 | no data | 7.5% | no data |
| 2010 | no data | 8.1% | no data |
| 2011 | 8.5% | 7.5% | 4.3% |
| 2012 | 13.6% | 7.4% | 5.9% |
| 2013 | 11.9% | 12.3% | 4.8% |
| 2014 | 14.2% | 13.7% | 4.7% |
| 2015 | 5.8% | 9.6% | 1.7% |
| 2016 | 5.6% | 7.2% | 1.4% |
| 2017 | 20.8% | 16.5% | 5.9% |
| 2018 | no data | 13.7% | no data |
| 2019 | 31.4% | 10.7% | 4.8% |
| 2020 | 45.3% | 12.9% | 6.8% |
| 2021 | no data | 8.9% | no data |
| 2022 | no data | 8.6% | no data |
| 2023 | no data | 5.1% | no data |
| 2024 | 24.2% | 9.6% | 8.0% |
| 2025 | no data | 7.7% | no data |
Data status and sources
- Score
- Daily value of 13 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 12 Nov 2026 ($1 = NOK 9.5325)
- 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.