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Koninklijke KPN N.V (KPNN) Fair Value & Analysis

Communication Services · MX · Market cap 318B MXN

KK Koninklijke KPN N.V KPNN · MX
Price84.19 MXN
Fair Value53.17 MXN
Upside-36.9%
Quality63/100
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Weak Growth
Solidly profitable · 15.2% net margin
High debt · generates free cash flow
0.22% dividend yield
Wide moat 70/100
Evidence: High Range 30.65 MXN – 92.16 MXN Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 66.96 MXN to 53.17 MXN (−20.6%) since Jul 13, 2026.

A solid business, but screening 37% overvalued on our models.

What matters now

  • The model range is unusually wide (30.65 MXN to 92.16 MXN). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

84.19 MXN 45.26 MXN Fair Value 53.17 MXN Apr 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 45.26 MXN – 84.19 MXN · fair‑value band 30.65 MXN – 92.16 MXN · the 84.19 MXN price screens above the 53.17 MXN fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Koninklijke KPN N.V (KPNN) currently trades at 84.19 MXN, while our model-based Fair Value estimate is 53.17 MXN, implying the stock looks roughly 36.9% overvalued today. The Quality Score stands at 63/100 (solid 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, Koninklijke KPN N.V generated revenue of 5.8B MXN at a net margin of 15.2%. Revenue grew 2.2% year over year. It earns a return on equity of 23.3%. Net debt stands at 5.9B MXN. Fundamentals as of Aug 13, 2026

Our scenario range runs from 30.65 MXN (bear case) to 92.16 MXN (bull case); at 84.19 MXN, the current price sits within 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 share trades about 2% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at -37%, KPNN 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF 28.15 MXN 49.67 MXN 88.13 MXN 80
Residual Income 25.94 MXN 30.91 MXN 86.10 MXN 76
Rev-Margin DCF 26.86 MXN 54.46 MXN 88.13 MXN 74
All 24 models by family
DCF Models
FCF DCF 25.39 MXN 47.47 MXN 89.97 MXN 38
Owner Earnings 20.05 MXN 39.92 MXN 78.01 MXN 31
5Y Revenue Exit 26.86 MXN 53.17 MXN 91.62 MXN 39
5Y EBITDA Exit 58.32 MXN 107.63 MXN 173.12 MXN 41
5Y P/E Exit 29.62 MXN 58.14 MXN 91.99 MXN 38
10Y Revenue Exit 24.29 MXN 44.16 MXN 65.86 MXN 36
10Y EBITDA Exit 45.44 MXN 78.74 MXN 114.80 MXN 37
10Y P/E Exit 27.60 MXN 47.28 MXN 66.05 MXN 35
Earnings-Based
Graham-Dodd 28.33 MXN 34.59 MXN 39.00 MXN 54
EPV 32.20 MXN 42.68 MXN 51.88 MXN 59
Dividend Discount
Gordon GGM 31.64 MXN 34.77 MXN 39.74 MXN 70
DDM Multi-Stage 31.64 MXN 40.48 MXN 52.99 MXN 61
Multiples
P/E Multiple 68.81 MXN 91.81 MXN 114.62 MXN 63
P/S Multiple 53.17 MXN 70.83 MXN 88.68 MXN 58
P/B Multiple 45.07 MXN 59.98 MXN 75.06 MXN 55
EV/EBIT 57.22 MXN 85.18 MXN 113.15 MXN 53
EV/EBITDA 95.30 MXN 135.96 MXN 176.62 MXN 54
EV/Revenue 32.75 MXN 58.14 MXN 83.53 MXN 43
Asset-Based
NCAV (Graham) 8.65 MXN 11.41 MXN 17.11 MXN 50
Growth DCF
Growth DCF 28.15 MXN 49.67 MXN 88.13 MXN 80
Rev-Margin DCF 26.86 MXN 54.46 MXN 88.13 MXN 74
Economic Profit
Residual Income 25.94 MXN 30.91 MXN 86.10 MXN 76
ROIC Compounder 32.20 MXN 45.26 MXN 59.61 MXN 72
Growth Earnings
Growth-Adj P/E 48.57 MXN 69.36 MXN 89.97 MXN 68

Widest divergence: Multiples (70.83 MXN) versus Asset-Based (11.41 MXN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 5.8B MXN
Revenue growth (YoY) +2.2%
Net margin 15.2%
Return on equity 23.3%
Free cash flow 1.0B MXN FY2025
P/E ratio 18.4
More key figures
Operating margin 24.5%
EPS (TTM) 4.58 MXN
Dividend yield 0.2%
EPS growth (YoY) +27.6%
Net debt 5.9B MXN FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 60 · Market factors (momentum, volatility) 73

Profitability 57
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 98
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

Koninklijke KPN N.V. provides telecommunications and information technology (IT) services in the Netherlands. The company operates through Consumer, Business, Wholesale and Network, and Operations & IT segments.

Full company description

Koninklijke KPN N.V. provides telecommunications and information technology (IT) services in the Netherlands. The company operates through Consumer, Business, Wholesale and Network, and Operations & IT segments. It offers fixed and mobile telephony, fixed and mobile broadband internet, and TV to retail and business consumers; infrastructure and network-related IT solutions to business customers; and wholesale network services to third parties. The company also provides network-related ICT solutions, such as security, internet of things, cloud, connectivity, and smart combinations; interconnect traffic, visitor roaming, digital products, and NL-ix interconnect exchange services; and sale of handsets and peripheral equipment, as well as software licenses. It offers its products and services under the KPN, XS4ALL, Simyo, KPN Security, KPN Health, Solcon, Inspark, and KPN Partner Network, KPN IoT, and youfone brands. The company was formerly known as Koninklijke PTT Nederland NV and changed its name to Koninklijke KPN N.V. in June 1998. Koninklijke KPN N.V. was founded in 1881 and is headquartered in Rotterdam, the Netherlands.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Koninklijke KPN N.V reported revenue of 5.8B MXN in FY2025 versus 5.3B MXN in FY2021, a compound +2.4%/yr. Reported net income was 855M MXN in FY2025, compounding −9.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.8B MXN
Latest YoY
+3.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.9%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.4%
Revenue +2.4%/yr
FY21 5.3B MXN
FY22 5.3B MXN
FY23 5.4B MXN
FY24 5.6B MXN
FY25 5.8B MXN
Net income −9.7%/yr
FY21 1.3B MXN
FY22 760M MXN
FY23 844M MXN
FY24 848M MXN
FY25 855M MXN

KPNN screens 37% overvalued. Compare with China Mobile Limited →

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Cite: Fair Value Calculator (2026). "Koninklijke KPN N.V Fair Value". https://www.fairvalue-calculator.com/stock/KPNN

Earlier news

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

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 Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥96.11 ¥109.88 +14%
Bharti Airtel Limited BHARTIARTL ₹1,945 ₹941.55 -52%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 494.99 MXN +91%
Advanced Info Service Public Company ADVANC 374.00 THB 286.77 THB -23%
Chunghwa Telecom Co 2412 136.00 TWD 100.00 TWD -26%
Telefónica, S.A TEFN 75.67 MXN 108.96 MXN +44%
TLKM TLKM 2,590 IDR 3,898 IDR +50%
PT Indoritel Makmur Internasional Tbk., DNET 9,500 IDR 1,503 IDR -84%

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Frequently asked questions

Is Koninklijke KPN N.V (KPNN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 53.17 MXN versus a price of 84.19 MXN, about −37% (overvalued).
What is the fair value of KPNN?
Our model-based fair value for Koninklijke KPN N.V is 53.17 MXN (as of Aug 13, 2026), built from audited fundamentals. The current price is 84.19 MXN.
What is the quality score of KPNN?
Koninklijke KPN N.V has a Quality Score of 63/100. 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 Koninklijke KPN N.V (KPNN)?
Koninklijke KPN N.V reported trailing-twelve-month revenue of about 5.8B MXN (latest available figure, as of Aug 13, 2026).
What is the net profit margin of KPNN?
The net profit margin of Koninklijke KPN N.V is about 15.2%, meaning it keeps roughly 15.2% of revenue as net income. Based on the latest reported figures.
Does Koninklijke KPN N.V pay a dividend?
Koninklijke KPN N.V currently shows a dividend yield of about 0.22% relative to its recent price (as of Aug 13, 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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