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Telia Company AB (TELIA) Fair Value & Analysis

Communication Services · SE · Market cap 182B SEK (≈ $19.0B) · ISIN SE0000667925

What is Telia Company AB really worth?

TC Telia Company AB TELIA · ST
Pricekr 44.37
Fair Valuekr 19.55
Upside−55.9%
Quality48/100

Below-average quality, and trading another 127% above our fair value of kr 19.55.

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Strengths

Moderate debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −1.9 %/yr)
!Thin margins · 5.8% net margin
!Mixed vs. peers (6/15)
!Moderate moat 45/100
!Evidence only medium, so the estimate is less certain

For context

·4.58% dividend yield
Evidence: Medium Range kr 11.33 – kr 24.44

Fair value as of: Aug 13, 2026

From 22 valuation models · updated 22 days ago

Share price +3.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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.

Price vs Fair Value (5 years)

kr 51.68 kr 17.75 Fair Value kr 19.55 Jun 2021 Sep 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 kr 17.75 – kr 51.68 · fair‑value band kr 11.33 – kr 24.44 · the kr 44.37 price screens above the kr 19.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Telia Company AB (TELIA) currently trades at kr 44.37, while our model-based Fair Value estimate is kr 19.55, implying the stock looks roughly 127.0% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Communication Services sector. Bull case: the Growth DCF group reads highest at a median of kr 24.62 per share, and 3 of the 22 models we run sit above the kr 44.37 price. Bear case: the Earnings-Based group reads lowest at kr 7.39, and 19 of the 22 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Telia Company AB 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 Aug 13, 2026

Our scenario range runs from kr 11.33 (bear case) to kr 24.44 (bull case); at kr 44.37, 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 14% below its 52-week high and 41% 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 −56%, 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, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF kr 17.94 kr 30.19 kr 52.88 78
Growth DCF kr 19.40 kr 31.28 kr 51.62 77
Residual Income kr 10.48 kr 10.99 kr 11.67 76
All 22 models by family
DCF Models
FCF DCF kr 17.94 kr 30.19 kr 52.88 78
Owner Earnings kr 12.97 kr 23.27 kr 42.34 73
5Y Revenue Exit kr 12.80 kr 23.89 kr 40.00 70
5Y EBITDA Exit kr 38.33 kr 68.09 kr 107.51 73
5Y P/E Exit kr 6.48 kr 12.95 kr 20.75 68
10Y Revenue Exit kr 13.92 kr 22.38 kr 31.36 66
10Y EBITDA Exit kr 30.07 kr 49.71 kr 70.99 68
10Y P/E Exit kr 10.74 kr 15.61 kr 20.06 64
Earnings-Based
Graham-Dodd kr 6.04 kr 7.39 kr 8.31 67
EPV kr 9.26 kr 13.01 kr 16.29 73
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 65
EV/EBITDA kr 61.95 kr 87.02 kr 112.09 67
EV/Revenue kr 11.65 kr 22.32 kr 33.00 51
Asset-Based
NCAV (Graham) kr 6.49 kr 8.70 kr 12.99 54
Growth DCF
Growth DCF kr 19.40 kr 31.28 kr 51.62 77
Rev-Margin DCF kr 12.80 kr 24.62 kr 39.22 71
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 71
Growth Earnings
Growth-Adj P/E kr 10.34 kr 14.76 kr 19.19 67

Widest divergence: Growth DCF (kr 24.62) versus Earnings-Based (kr 7.39). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 37.6
P/S ratio 1.62 P/E × margin
EPS (TTM) kr 1.18 price ÷ EPS = P/E 37.6
Dividend yield 4.6% payout 172%
Net margin 4.3% FY2025
Return on equity 9.1% TTM
More key figures
Profitability
Return on assets (EBIT) 4.3% avg 5y
Operating margin 15.6% TTM
Growth
Revenue (TTM) 80.9B SEK TTM
Revenue growth (YoY) −0.3% 3y avg −3.8%
EPS growth (YoY) +226%
Balance sheet & cash flow
Free cash flow 12.6B SEK FY2025
Net debt 90.4B SEK FY2025 · ≈ 7.2 yrs of FCF

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

Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 65

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 46
Price trend over the last 3–12 months (market factor)
52W Momentum 64
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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 AB reported revenue of 81.0B SEK in FY2025 versus 88.3B SEK in FY2021, a compound −2.2%/yr. Reported net income was 3.5B SEK 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. revenue 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.
−3.8%
Avg. revenue 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. revenue growth/yr (25Y) 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.
+1.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−12.6% (−17.2 + 4.6)
Revenue −2.2%/yr
FY21 88.3B SEK
FY22 90.8B SEK
FY23 88.8B SEK
FY24 89.1B SEK
FY25 81.0B SEK
Net income −26.0%/yr
FY21 11.7B SEK
FY22 −14.2B SEK
FY23 303M SEK
FY24 7.1B SEK
FY25 3.5B SEK
Character of growth · EPS growth decomposed (2014-2025) −8.6 % p.a.
Revenue per share +0.5 %

of which total revenue −0.5 % · buybacks/dilution +1.1 %

EBIT margin −8.0 %
Tax rate +0.0 %
Residual (interest, one-offs) −1.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

TELIA screens 127% overvalued. Compare with China Mobile Limited →

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

Peer Group

Telecom Services · 248 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 −56% · 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) 4.6% · Above median
Debt / equity 1.25× · Higher than 75% of peers

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 37.6× · 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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 28
FUTURE0 · sector 16
PAST37 · sector 28
HEALTH38 · sector 89
DIVIDEND92 · sector 76

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

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%
T-Mobile US, Inc TMUS $177.75 $172.67 −3%
Verizon Communications Inc VZ $49.43 $64.43 +30%
AT&T Inc T $26.01 $43.97 +69%
Bharti Airtel Limited BHARTIARTL ₹1,935 ₹941.48 −51%
Comcast Corporation CMCSA $26.41 $95.42 +261%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMX $23.50 $39.45 +68%
Singapore Telecommunications Limited Z77 4.29 SGD 3.03 SGD −29%
Swisscom AG SCMN CHF 627.50 CHF 463.92 −26%

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Frequently asked questions

Is Telia Company AB (TELIA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 19.55 versus a price of kr 44.37, about −56% upside (overvalued).
What is the fair value of TELIA?
Our model-based fair value for Telia Company AB is kr 19.55 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 44.37.
What is the quality score of TELIA?
Telia Company AB 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 AB (TELIA)?
Telia Company AB reported trailing-twelve-month revenue of about 80.9B SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TELIA?
The net profit margin of Telia Company AB is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.
Does Telia Company AB pay a dividend?
Telia Company AB currently shows a dividend yield of about 4.58% relative to its recent price (as of Aug 13, 2026).
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