View Future GrowthDeutsche Telekom 過去の業績過去 基準チェック /26Deutsche Telekomは、平均年間17.5%の収益成長を遂げていますが、 Telecom業界の収益は、年間 減少しています。収益は、平均年間4.4% 2%収益成長率で 成長しています。 Deutsche Telekomの自己資本利益率は14.9%であり、純利益率は7.2%です。主要情報17.55%収益成長率17.30%EPS成長率Telecom 業界の成長36.30%収益成長率2.05%株主資本利益率14.88%ネット・マージン7.22%次回の業績アップデート06 Aug 2026最近の業績更新Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: €0.42 (down from €0.58 in 1Q 2025). Revenue: €30.6b (flat on 1Q 2025). Net income: €2.04b (down 28% from 1Q 2025). Profit margin: 6.7% (down from 9.4% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.Reported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: €1.97 (down from €2.27 in FY 2024). Revenue: €121.8b (up 2.9% from FY 2024). Net income: €9.61b (down 14% from FY 2024). Profit margin: 7.9% (down from 9.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.分析記事 • Nov 20We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) EarningsDeutsche Telekom AG's ( ETR:DTE ) robust earnings report didn't manage to move the market for its stock. Our analysis...Reported Earnings • Nov 14Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: €0.50 (down from €0.60 in 3Q 2024). Revenue: €29.6b (up 1.6% from 3Q 2024). Net income: €2.43b (down 18% from 3Q 2024). Profit margin: 8.2% (down from 10% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.お知らせ • Aug 13+ 3 more updatesDeutsche Telekom AG to Report Q2, 2026 Results on Aug 06, 2026Deutsche Telekom AG announced that they will report Q2, 2026 results on Aug 06, 2026Reported Earnings • Aug 10Second quarter 2025 earnings: Revenues in line with analyst expectationsSecond quarter 2025 results: Revenue: €29.3b (up 1.0% from 2Q 2024). Net income: €2.62b (up 25% from 2Q 2024). Profit margin: 8.9% (up from 7.2% in 2Q 2024). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe.すべての更新を表示Recent updatesナラティブ更新 • Jul 27DTE: Quantum Communication Projects Will Support Future Repricing PotentialAnalysts have trimmed their fair value estimate for Deutsche Telekom slightly to €37.41 from €38.28, reflecting updated assumptions for discount rate, revenue growth, profit margins and future P/E multiples in light of mixed recent research signals, including Deutsche Bank's reduced €40 price target and Goldman Sachs removing the stock from its European Conviction List. Analyst Commentary Recent research on Deutsche Telekom points to a mixed but generally constructive stance, with most published views still framed within Buy ratings even as some targets and conviction levels are adjusted.ライブニュース • Jul 02Deutsche Telekom Begins €2 Billion Buyback Program Under Board Authorization Through 2030Deutsche Telekom has launched a new multi-year share buyback program of up to €2 billion. Repurchases began in January 2026 and are scheduled to run through the end of 2026, under an authorization to buy back up to 10% of its share capital through 2030. Most of the repurchased shares are planned to be cancelled, with a portion reserved for executive and employee remuneration, which affects both the share count and how stock-based pay is sourced. Deutsche Telekom’s stock trades at €24.29, with the share price down 21.1% over the past 90 days, setting the buyback against a weaker recent trading backdrop. This kind of program can tighten the share base over time, so the main questions for investors are how consistently Deutsche Telekom uses the authorization and how that compares with alternative uses of cash such as debt reduction or dividends.ライブニュース • Jul 01Deutsche Telekom Deploys AI to Accelerate Fiber Network Build and Tackle Labor ShortagesDeutsche Telekom is expanding its use of AI to speed up German fiber network rollout and automate tasks such as scheduling and site inspections, as part of a broader push to tackle the country’s worker shortage and productivity issues. The initiative is material because it targets structural labor constraints in Germany, where AI adoption is expected at more than two-thirds of firms this year, and is framed as part of a potential €300b contribution to economic growth from wider AI use. Deutsche Telekom’s share price is €23.85, with the stock down 17.4% over the past 30 days. The read-through is that Deutsche Telekom is leaning on AI to keep fiber build-out and operations moving despite tight labor supply. This could influence its cost base and capital deployment profile over time, but also exposes it to execution risk around large-scale technology rollout and integration.分析記事 • Jun 21Deutsche Telekom (XTRA:DTE) Stock Could Be 30.6% Undervalued After Higher 2026 GuidanceDeutsche Telekom (XTRA:DTE) is back in focus after Q1 2026 results showed 4.7% organic revenue growth and a 7.5% rise in adjusted EBITDA AL, alongside upgraded full year guidance to about €47.50b. See our latest analysis for Deutsche Telekom. Despite the stronger Q1 update and higher guidance, Deutsche Telekom’s share price has moved the other way recently, with the stock down 8.95% over 30 days and 16.03% over 90 days, while the 5 year total shareholder return of 74.87% still reflects a very...ライブニュース • Jun 10Deutsche Telekom and Palo Alto Networks Launch AI Security Platform Focused on European Regulatory ComplianceDeutsche Telekom and Palo Alto Networks announced "Sovereign Cortex with T Security," an AI-driven security platform aimed at highly regulated European industries. The solution is designed to meet European regulatory requirements such as GDPR, NIS2 and DORA while keeping data sovereignty controls under Deutsche Telekom governance. Initial target customers include healthcare, financial services, the public sector and critical national infrastructure, with availability planned for Q3 2026. This partnership highlights Deutsche Telekom’s effort to position its T Security unit as a key provider of cloud-delivered AI security that complies with strict European data rules. For investors, key areas of attention include how effectively the company can convert this offering into long-term security service contracts with regulated clients, and any execution risks tied to the planned 2026 rollout.Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: €0.42 (down from €0.58 in 1Q 2025). Revenue: €30.6b (flat on 1Q 2025). Net income: €2.04b (down 28% from 1Q 2025). Profit margin: 6.7% (down from 9.4% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.ライブニュース • May 14Deutsche Telekom Lifts Guidance as T-Mobile US Growth and Fiber Expansion Drive Q1 ResultsDeutsche Telekom reported a strong start to 2026, highlighting broad-based growth in Q1 and raising full-year guidance, supported mainly by T-Mobile US performance. T-Mobile US added 217,000 postpaid accounts and increased its own annual projections, underlining the unit’s role as a key earnings driver within the group. In Germany, Deutsche Telekom reached 13 million households with its fiber network, while also flagging artificial intelligence as a priority area across the business. The combination of upgraded guidance, contributions from T-Mobile US and ongoing fiber expansion suggests management is leaning on both U.S. scale and German infrastructure build-out to support future earnings potential. You may want to watch how capital spending on fiber and AI initiatives affects cash flow and debt over time, as well as any shifts in T-Mobile US performance given its outsized weight in the group’s results.お知らせ • Apr 23Deutsche Telekom and T-Mobile US Reportedly in Merger TalksReports swirl about possible merger talks between Deutsche Telekom AG (XTRA:DTE) and T-Mobile US, Inc. (NasdaqGS:TMUS), potentially creating the largest public merger and the world's biggest wireless operator. The proposed merger would form a new holding company, with stock bids for both firms, and be listed in the US and Europe. Deutsche Telekom shares saw a 1.5% decline on April 22, 2026 amid swirling reports of possible merger discussions with U.S.-based T-Mobile US. Should this merger proceed, it would set a record as the largest public merger ever conducted, leading to the formation of the world's largest wireless operator by market capitalization. Reports confirmed by Reuters indicate these discussions are in the early stages. Deutsche Telekom, holding a 53% stake in T-Mobile, refrained from commenting on these developments. Initially reported by Bloomberg, the merger would require Germany's approval, as it stands as the largest shareholder of Deutsche Telekom. The proposed plan aims to establish a new holding company to make stock bids for both telecommunications giants, followed by listings in the U.S. and Europe. The merger could result in a powerful entity with increased market liquidity, benefitting future business dealings. Observers note T-Mobile's stock has decreased by 25% over the past year, contrasting with a 10% decline for Deutsche Telekom.ナラティブ更新 • Apr 21DTE: AI RAN Partnerships And Capital Returns Will Drive Future RepricingAnalysts have inched their average price target for Deutsche Telekom higher to about €38.28 from roughly €38.14, reflecting recent target increases from several firms along with more cautious updates to growth, margin and future P/E assumptions. Analyst Commentary Recent research on Deutsche Telekom reflects a mix of optimism and caution, with several firms adjusting targets and one major bank revisiting its stance over the past few weeks.ナラティブ更新 • Apr 04DTE: AI Network Partnerships And Buybacks Will Drive Future RepricingDeutsche Telekom's updated analyst price target edges higher to €38.14 from €38.03. Analysts point to slightly lower discount rate assumptions, marginally firmer profit margin expectations and a small adjustment to future P/E as key supports for the change.Upcoming Dividend • Mar 26Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 02 April 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.4%).ナラティブ更新 • Mar 21DTE: AI Network Partnerships And Buybacks Will Support Future RepricingAnalysts have modestly raised the fair value estimate for Deutsche Telekom to about €38.03 from €36.94. This reflects updated assumptions for slightly higher revenue growth and profit margins, along with a lower future P/E, supported by recent Street research that includes a €1.50 price target increase at JPMorgan and an upgrade to Buy at Erste Group.Reported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: €1.97 (down from €2.27 in FY 2024). Revenue: €121.8b (up 2.9% from FY 2024). Net income: €9.61b (down 14% from FY 2024). Profit margin: 7.9% (down from 9.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 26Volvo Car AB Announces Board Member Re-Election DeclinesVolvo Car AB announced that Anna Mossberg and Caroline Grégoire Sainte Marie have declined re-election for the board.ナラティブ更新 • Feb 14DTE: AI Collaboration And Buybacks Will Support Future Equity RepricingAnalysts have nudged their fair value estimate for Deutsche Telekom slightly higher to €36.94, reflecting updated assumptions for a lower discount rate, a modest adjustment to revenue growth and margins, and recent Street research. JPMorgan lifted its price target by €1, while Morgan Stanley set a target of €38.ナラティブ更新 • Jan 31DTE: AI Partnerships And Buybacks Will Support Future Equity RepricingAnalysts have trimmed their fair value estimate for Deutsche Telekom from €37.25 to about €36.89. This reflects updated assumptions that pair slightly higher revenue expectations with a lower profit margin outlook and a higher future P/E, consistent with recent price target cuts such as the EUR 1.50 reduction at Barclays and the move to €38 from €40 at Morgan Stanley.お知らせ • Jan 28Deutsche Telekom AG, Annual General Meeting, Apr 01, 2026Deutsche Telekom AG, Annual General Meeting, Apr 01, 2026, at 10:00 W. Europe Standard Time. Location: bonn Germanyナラティブ更新 • Jan 17DTE: AI Data Center Partnership Will Underpin Future Equity RepricingAnalysts have trimmed their fair value estimate for Deutsche Telekom to €37.25 from €38.07, reflecting an updated view that balances higher assumed revenue growth and profit margins with a higher discount rate, as well as a slightly lower future P/E multiple after the recent cut in the Street price target to €38 from €40. Analyst Commentary The latest Street research around Deutsche Telekom is relatively limited, but the recent price target move to €38 from €40 offers some insight into how professionals are thinking about valuation, execution, and growth for the stock.お知らせ • Jan 07Deutsche Telekom AG (XTRA:DTE) commences an Equity Buyback Plan under the authorization approved on April 9, 2025.Deutsche Telekom AG (XTRA:DTE) commences share repurchases on January 5, 2026, under the program mandated by the Annual General Meeting held on April 9, 2025. As per the mandate, the company is authorized to repurchase its own shares, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. The consideration per share paid (excluding transaction costs) may not be more than 10% above or 20% below the market price of the shares determined by the opening auction on the trading day (day of purchase) in the Xetra trading system of the Frankfurt Stock Exchange (or a successor system). The repurchased shares will be used for for all legally permitted purposes like retirement, sale of shares against cash payment to take advantage of the opportunities offered by the relevant market price quickly, flexibly, and cost-effectively as they arise, fulfillment of conversion or option rights or obligation, Issuance of shares under share-based remuneration systems or employee share schemes and to partially exclude shareholders’ subscription rights in favor of the creditors of bonds and/or profit participation rights with conversion or option rights or a conversion or option obligation when using own shares. The program is valid till April 8, 2030. As of April 9, 2025, the company had 4,986,458,596 shares issued. On November 13, 2025, the company announced a share repurchase program. Under the program, the company will repurchase €2,000 million worth of its shares. The program is valid till 2026.分析記事 • Nov 20We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) EarningsDeutsche Telekom AG's ( ETR:DTE ) robust earnings report didn't manage to move the market for its stock. Our analysis...Declared Dividend • Nov 15Dividend increased to €1.00Dividend of €1.00 is 11% higher than last year. Ex-date: 2nd April 2026 Payment date: 8th April 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 14Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: €0.50 (down from €0.60 in 3Q 2024). Revenue: €29.6b (up 1.6% from 3Q 2024). Net income: €2.43b (down 18% from 3Q 2024). Profit margin: 8.2% (down from 10% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.お知らせ • Nov 14Deutsche Telekom AG announces Annual dividend, payable on April 08, 2026Deutsche Telekom AG announced Annual dividend of EUR 1.0000 per share payable on April 08, 2026, ex-date on April 02, 2026 and record date on April 07, 2026.ナラティブ更新 • Oct 23Analysts Raise Deutsche Telekom Price Target Amid Improved Margins and Strategic PartnershipsAnalysts have increased their price target for Deutsche Telekom by approximately €0.49 to €38.07. They cited improved profit margin expectations, which more than offset slightly softer projected revenue growth and a modest uptick in the discount rate.お知らせ • Oct 03Deutsche Telekom AG (XTRA:DTE) acquired Synedra Information Technologies GmbH.Deutsche Telekom AG (XTRA:DTE) acquired Synedra Information Technologies GmbH on October 1, 2025. The founding team of Synedra and its more than 80 employees will become part of the Telekom family as part of the acquisition. With the acquisition, Deutsche Telekom will expand its portfolio in the future to include the HCM solutions from synedra and the documentation solutions from akedis Innovations. Deutsche Telekom AG (XTRA:DTE) completed the acquisition of Synedra Information Technologies GmbH on October 1, 2025.お知らせ • Aug 13+ 3 more updatesDeutsche Telekom AG to Report Q2, 2026 Results on Aug 06, 2026Deutsche Telekom AG announced that they will report Q2, 2026 results on Aug 06, 2026Reported Earnings • Aug 10Second quarter 2025 earnings: Revenues in line with analyst expectationsSecond quarter 2025 results: Revenue: €29.3b (up 1.0% from 2Q 2024). Net income: €2.62b (up 25% from 2Q 2024). Profit margin: 8.9% (up from 7.2% in 2Q 2024). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe.New Risk • Jun 25New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk High level of debt (99% net debt to equity).Reported Earnings • May 16First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: €0.58 (up from €0.40 in 1Q 2024). Revenue: €30.4b (up 6.4% from 1Q 2024). Net income: €2.85b (up 44% from 1Q 2024). Profit margin: 9.4% (up from 6.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.New Risk • May 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk High level of debt (105% net debt to equity).Upcoming Dividend • Apr 03Upcoming dividend of €0.90 per shareEligible shareholders must have bought the stock before 10 April 2025. Payment date: 14 April 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (3.0%).お知らせ • Mar 12Deutsche Telekom and T-Systems Announce Management ChangesDeutsche Telekom and its subsidiary T-Systems have appointed Gottfried Ludewig as the new head of the Public Sector division, effective 01 March 2025. Ludewig succeeds Juergen Schulz, who is leaving the company at his own request. Telekom said it is strengthening the cooperation between the public sector and the healthcare sector divisions with Ludwig in the double role of Head of Public Sector division and Head of Healthcare. The public sector division provides services to institutions at federal, state and local level in Germany, as well as the European level.お知らせ • Mar 07uCloudlink Group Inc., Deutsche Telekom, Siemens, Airbus, and HSBC Receive Approval for Pilot Operations of Value-Added Telecoms Services from MIITUCLOUDLINK GROUP INC. announced that it was one of the first batch of 13 foreign-invested companies to receive approval for pilot operations of value-added telecommunications services by China’s Ministry of Industry and Information Technology (the “MIIT”). With the approval, UCLOUDLINK will be permitted to engage in value-added telecommunications services such as internet access and information services in China. The 13 foreign-invested companies approved for this pilot program are predominantly affiliates of well-known multinational corporations, including Deutsche Telekom, Siemens, Airbus, and HSBC. Companies that received approval are expected to provide Chinese consumers with a more diverse range of telecom services and products to stimulate market vitality, enhance service quality and standards, and better meet the growing digital lifestyle needs of the Chinese public.お知らせ • Mar 05Deutsche Telekom AG, Annual General Meeting, Apr 09, 2025Deutsche Telekom AG, Annual General Meeting, Apr 09, 2025, at 10:00 W. Europe Standard Time.お知らせ • Feb 28Deutsche Telekom AG announces Annual dividend, payable on April 14, 2025Deutsche Telekom AG announced Annual dividend of EUR 0.9000 per share payable on April 14, 2025, ex-date on April 10, 2025 and record date on April 11, 2025.Reported Earnings • Feb 27Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: €2.27 (up from €0.82 in FY 2023). Revenue: €122.3b (up 6.6% from FY 2023). Net income: €11.2b (up 174% from FY 2023). Profit margin: 9.2% (up from 3.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Jan 08+ 2 more updatesDeutsche Telekom AG to Report Q1, 2025 Results on May 15, 2025Deutsche Telekom AG announced that they will report Q1, 2025 results on May 15, 2025Major Estimate Revision • Nov 25Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €1.60 to €1.80. Revenue forecast steady at €114.8b. Net income forecast to grow 36% next year vs 22% growth forecast for Telecom industry in Germany. Consensus price target up from €31.72 to €32.66. Share price rose 2.9% to €29.58 over the past week.新しいナラティブ • Nov 24Critical Broadband Expansion And ESG Initiatives Drive US And European Telecom Growth Strategic investments in fiber and strong service revenue growth enhance Deutsche Telekom's competitive edge and market share in U.S. and Europe. Reported Earnings • Nov 15Third quarter 2024 earnings: EPS exceeds analyst expectationsThird quarter 2024 results: EPS: €0.60 (up from €0.39 in 3Q 2023). Revenue: €29.4b (up 4.0% from 3Q 2023). Net income: €2.96b (up 54% from 3Q 2023). Profit margin: 10% (up from 6.8% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.Reported Earnings • Aug 09Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: €0.42 (up from €0.31 in 2Q 2023). Revenue: €29.0b (up 4.1% from 2Q 2023). Net income: €2.09b (up 36% from 2Q 2023). Profit margin: 7.2% (up from 5.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectationsFirst quarter 2024 results: EPS: €0.40 (up from €0.34 in 1Q 2023). Revenue: €28.6b (flat on 1Q 2023). Net income: €1.98b (up 19% from 1Q 2023). Profit margin: 6.9% (up from 5.9% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.Upcoming Dividend • Apr 04Upcoming dividend of €0.77 per shareEligible shareholders must have bought the stock before 11 April 2024. Payment date: 15 April 2024. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.2%).New Risk • Feb 26New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 6.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (107% net debt to equity). Dividend is not well covered by earnings (94% payout ratio). Profit margins are more than 30% lower than last year (3.6% net profit margin).Reported Earnings • Feb 26Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: €0.82 (down from €1.52 in FY 2022). Revenue: €114.7b (down 2.0% from FY 2022). Net income: €4.09b (down 46% from FY 2022). Profit margin: 3.6% (down from 6.5% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 31%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.New Risk • Feb 23New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risk High level of debt (105% net debt to equity).お知らせ • Feb 16Deutsche Telekom and Brain.ai Unveils Revolutionary App-Less Phone At Mobile World CongressBrain.ai (also known as Brain Technologies Inc.) and Deutsche Telekom announced that they will unveil a new app-less phone that humanizes how people interact with their devices, powered by Brain.ai’s Natural AI interface. Brain.ai is an artificial intelligence company with a mission to make computers an extension of minds. Deutsche Telekom is one of the world’s leading integrated telecommunications companies. Brain and Deutsche Telekom will make the announcement at Mobile World Congress 2024 in Barcelona, demoing the visionary AI phone together. Natural AI dynamically creates interfaces on-demand, replacing the need for countless apps. Like a concierge, Natural AI takes over tasks and takes care of the details. Brain and Deutsche Telekom will announce and demo the new phone on stage on February 26, at Deutsche Telekom’s booth - Hall 3 at Booth 3M31. Today's software and apps operate on predefined pathways, with programmers establishing fixed connections from user interfaces to backend functionalities. Lacking the context of these connections made by humans, today’s software cannot dynamically adjust or adapt to human needs in real-time, nor can they learn from past connections to adapt to future needs they've not seen before. The AI phone Brain.ai is presenting together with Deutsche Telekom is breaking the paradigm–with an app-free interface that predicts and generates the next interface contextually, flowing with thoughts.Major Estimate Revision • Feb 03Consensus EPS estimates increase by 18%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.47 to €2.93. Revenue forecast steady at €111.6b. Net income forecast to grow 94% next year vs 16% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €26.99. Share price was steady at €22.68 over the past week.お知らせ • Jan 09Deutsche Telekom AG (XTRA:DTE) commences an Equity Buyback Plan, under the authorization approved on April 1, 2021.Deutsche Telekom AG (DB:DTE) commences share repurchases on January 3, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 1, 2021. As per the mandate, the company will repurchase its own shares, such that, at no time it’s holding in own shares represent more than 10% of its issued share capital. The repurchases will be made either on the stock exchange or through a public offer to all shareholders or a public invitation to make a purchase offer. If the shares are acquired on the stock exchange, the repurchase price (excluding transaction costs) may not be more than 10% above or 20% below the market price of the shares determined by the opening auction on the trading day on which the contractual transaction was concluded in the Xetra trading system of Deutsche Börse AG (or a subsequent system). If the shares are purchased through a public purchase offer presented to all shareholders, the purchase price offered, or the limits of the purchase price range offered per share (excluding transaction costs) may not be more than 10% above or below the average market price of the share between the 9th and 5th trading day before the date of publication of the offer. The repurchased shares will be used to fulfill option and/or conversion rights and obligations from convertible bonds and/or bonds with warrants issued, either directly or through a company. The program will be valid till March 31, 2026. As of February 26, 2021, the company has 4,761,458,596 shares issued. On January 2, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to €2,000 million worth of its shares. The purpose of the program is to partially offset the dilutive effect of the 2021 capital increase. The shares repurchased will be retired. The program will be carried out in several tranches and until December 31, 2024. On January 2, 2024, the company announced a share repurchase program. Under the 1st tranche of the program, the company will repurchase up to 25,000,000 shares, for €550 million. The repurchases will commence from January 3, 2024 and will run until April 4, 2024.Reported Earnings • Nov 13Third quarter 2023 earnings: EPS exceeds analyst expectationsThird quarter 2023 results: EPS: €0.39 (up from €0.30 in 3Q 2022). Revenue: €28.2b (down 4.8% from 3Q 2022). Net income: €1.92b (up 31% from 3Q 2022). Profit margin: 6.8% (up from 5.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.お知らせ • Nov 13Deutsche Telekom AG, Annual General Meeting, Apr 10, 2024Deutsche Telekom AG, Annual General Meeting, Apr 10, 2024, at 10:00 Central European Standard Time.Major Estimate Revision • Nov 10Consensus EPS estimates increase by 28%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €3.17 to €4.06. Revenue forecast steady at €111.7b. Net income forecast to grow 110% next year vs 12% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.71. Share price was steady at €21.44 over the past week.お知らせ • Nov 04Deutsche Telekom AG Plans Higher Dividend for 2023The Board of Management of Deutsche Telekom AG plans to propose to the annual shareholder meeting to increase the dividend for the 2023 financial year to 0.77 euros per dividend-bearing share, up from 0.70 euros per share for the 2022 financial year.お知らせ • Oct 17Deutsche Telekom Appoints Ferri Abolhassan as the New Member of the Executive Board, Effective January 1, 2024Deutsche Telekom has appointed Ferri Abolhassan as the new member of the executive board, responsible for T-Systems, effective on 01 January 2024.お知らせ • Oct 07Deutsche Telekom and Mavenir Unveil Advancements in 5G Standalone Network Slicing Service OpportunitiesMavenir together with Deutsche Telekom announced significant advancements across two projects both focused on progressing monetisation opportunities enabled by 5G standalone network slicing technologies and powered by Mavenir’s cloud-native Converged Packet Core. 5G Live Video Production Service, with RTL Deutschland, for stable broadcasting of live events using 5G standalone and network slicing technologies. This new service, now commercially available from Deutsche Telekom, allows professional video or media production companies to transmit live HD video streams reliably over the 5G network, even without special equipment (e.g. satellite van). To further increase the service reach, this use case can also be extended to mobile journalism, where regular consumers can transmit spontaneous video production using their own smartphones. Demonstration of a multi-domain orchestration proof-of-concept (PoC) with open APIs for 5G dynamic network slicing services on-demand. The collaborative PoC illustrates the ease with which businesses can submit a service request through Deutsche Telekom's customer interface, initiating the setup of a protected, tailored 5G network slice that assures superior Quality of Service (QoS) tailored to a customer’s specific connectivity needs. The complete customer journey from the moment an order is placed, to the translation of that order into precise deployment and configuration details for network functions, results in the activation of a dedicated end-to-end network slice with a custom Service Level Agreement (SLA). Network Slicing solution demonstrated by Deutsche Telekom for the multi domain orchestration PoC enables enterprises to book a network slice for video production or any other use case, based on the slice availability at their location. The entire network slice lifecycle is automated, from ordering to instantiation to configuration to management. The business support system (BSS) takes the customer order and invokes the slice manager/orchestrator. The Mavenir Digital Cloud Automation (MDCA), which serves as a network function management function (NFMF), exposes REST API to the slice orchestrator to receive slice creation and configuration requests. To enable seamless integration with 3rd party orchestrators, Mavenir made the API specification publicly available. The MDCA which is Mavenir’s CICD framework, uses GitOps practices to automate the creation and configuration of the slice. As part of this procedure, the required network function (NF) for the slice is instantiated, the slice-specific and other dependent NFs are configured. Once the slice is activated, the slice specific KPIs are sent to the operations support system (OSS) layer. This enables monitoring of the network slice's performance, and any feedback action to be taken for Slice Assurance follows the same path as creation i.e. via MDCA. The 5G Live Video Production Service and the Multi-Domain Orchestration PoC was implemented using Mavenir’s cloud-native Converged Packet Core components and the MDCA serving as the NFMF. Mavenir’s end-to-end network slicing solution comprising of RAN, Core, Mavenir Digital Enablement (MDE serving as the BSS), and MDCA based Automation suite provides the same customer journey and slice lifecycle management as that of the Deutsche Telekom solution. MDE exposes TMF based Open APIs easing the integration with third-party management interfaces. This solution provides several benefits to CSPs, consumers and enterprises, including: Increased agility and flexibility: Businesses can quickly and easily deploy and manage network slices to meet their specific needs. Improved efficiency and cost savings: Businesses can optimise their network resources by using network slices for specific applications or use cases. Enhanced security and isolation: Network slices can be isolated from each other to improve security and performance. New revenue opportunities: Businesses can offer new and innovative services to their customers by using network slicing.Major Estimate Revision • Aug 19Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.77 to €3.14. Revenue forecast steady at €111.4b. Net income forecast to grow 96% next year vs 0.2% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.72. Share price was steady at €19.01 over the past week.お知らせ • Jul 24+ 4 more updatesDeutsche Telekom AG to Report Q4, 2023 Results on Feb 23, 2024Deutsche Telekom AG announced that they will report Q4, 2023 results on Feb 23, 2024Major Estimate Revision • Jul 23Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.42 to €2.74. Revenue forecast steady at €112.0b. Net income forecast to grow 142% next year vs 1.4% decline forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.89. Share price was steady at €19.67 over the past week.お知らせ • Jun 09Deutsche Telekom Has Appoints Wolfgang Metze as Its New Managing Director for Private Customers in Germany and Member of the Management Board of Telekom DeutschlandDeutsche Telekom has appointed Wolfgang Metze as its new managing director for private customers in Germany, effective from 01 August. Metze will also become a member of the management board of Telekom Deutschland. He will report directly to the Telekom Deutschland MD Srini Gopalan.Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.34 (vs €0.78 in 1Q 2022)First quarter 2023 results: EPS: €0.34 (down from €0.78 in 1Q 2022). Revenue: €28.5b (flat on 1Q 2022). Net income: €1.67b (down 57% from 1Q 2022). Profit margin: 5.9% (down from 14% in 1Q 2022). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 17% per year.Major Estimate Revision • May 14Consensus EPS estimates increase by 36%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €1.44 to €1.96. Revenue forecast steady at €113.0b. Net income forecast to grow 64% next year vs 4.7% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €26.15. Share price was steady at €21.66 over the past week.Upcoming Dividend • Mar 30Upcoming dividend of €0.70 per share at 3.2% yieldEligible shareholders must have bought the stock before 06 April 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.2%).Major Estimate Revision • Mar 02Consensus EPS estimates increase by 11%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €115.9b to €114.5b. EPS estimate rose from €1.35 to €1.50. Net income forecast to shrink 8.9% next year vs 0.1% decline forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.07. Share price was steady at €21.15 over the past week.Reported Earnings • Feb 25Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: €1.52 (up from €0.82 in FY 2021). Revenue: €117.1b (up 6.0% from FY 2021). Net income: €7.56b (up 90% from FY 2021). Profit margin: 6.5% (up from 3.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.収支内訳Deutsche Telekom の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史XTRA:DTE 収益、費用、利益 ( )EUR Millions日付収益収益G+A経費研究開発費31 Mar 26121,9468,8070031 Dec 25121,8169,6090030 Sep 25121,00912,0680030 Jun 25120,53912,5980031 Mar 25120,24812,0720031 Dec 24118,43211,2090030 Sep 24116,4065,9900030 Jun 24115,4964,9540031 Mar 24114,8244,4050031 Dec 23114,7334,0920030 Sep 23115,5916,0020030 Jun 23117,0245,5510031 Mar 23117,2045,3740031 Dec 22117,0747,5580030 Sep 22115,9847,0950030 Jun 22113,6256,4680031 Mar 22111,7836,8860031 Dec 21110,4723,9690030 Sep 21109,4695,2300030 Jun 21109,2535,2040031 Mar 21110,3074,1780031 Dec 20102,7174,0110030 Sep 2097,4303,1410030 Jun 2090,9523,6920031 Mar 2083,4453,8820031 Dec 1982,9743,8670030 Sep 1981,9092,7820030 Jun 1981,0142,5240031 Mar 1980,0492,0750031 Dec 1878,1182,1660030 Sep 1876,9683,9290030 Jun 1876,0603,3260031 Mar 1876,2253,7060031 Dec 1777,2723,4610030 Sep 1777,60250030 Jun 1777,4255510031 Mar 1776,3202970031 Dec 1675,2432,6750030 Sep 1673,5535,7450030 Jun 1672,5305,5010031 Mar 1672,0785,5920031 Dec 1571,3183,2540030 Sep 1569,8872,1985,1390質の高い収益: DTEは 高品質の収益 を持っています。利益率の向上: DTEの現在の純利益率 (7.2%)は、昨年(10%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: DTEの収益は過去 5 年間で年間17.5%増加しました。成長の加速: DTEは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: DTEは過去 1 年間で収益成長率がマイナス ( -27% ) となったため、 Telecom業界平均 ( -27% ) と比較することが困難です。株主資本利益率高いROE: DTEの 自己資本利益率 ( 14.9% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YTelecom 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/27 08:14終値2026/07/27 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Deutsche Telekom AG 14 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。38 アナリスト機関Andrew Charles BealeArete Research Services LLPnull nullBanco de Sabadell. S.A.Mathieu RobilliardBarclays35 その他のアナリストを表示
Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: €0.42 (down from €0.58 in 1Q 2025). Revenue: €30.6b (flat on 1Q 2025). Net income: €2.04b (down 28% from 1Q 2025). Profit margin: 6.7% (down from 9.4% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: €1.97 (down from €2.27 in FY 2024). Revenue: €121.8b (up 2.9% from FY 2024). Net income: €9.61b (down 14% from FY 2024). Profit margin: 7.9% (down from 9.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
分析記事 • Nov 20We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) EarningsDeutsche Telekom AG's ( ETR:DTE ) robust earnings report didn't manage to move the market for its stock. Our analysis...
Reported Earnings • Nov 14Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: €0.50 (down from €0.60 in 3Q 2024). Revenue: €29.6b (up 1.6% from 3Q 2024). Net income: €2.43b (down 18% from 3Q 2024). Profit margin: 8.2% (down from 10% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
お知らせ • Aug 13+ 3 more updatesDeutsche Telekom AG to Report Q2, 2026 Results on Aug 06, 2026Deutsche Telekom AG announced that they will report Q2, 2026 results on Aug 06, 2026
Reported Earnings • Aug 10Second quarter 2025 earnings: Revenues in line with analyst expectationsSecond quarter 2025 results: Revenue: €29.3b (up 1.0% from 2Q 2024). Net income: €2.62b (up 25% from 2Q 2024). Profit margin: 8.9% (up from 7.2% in 2Q 2024). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe.
ナラティブ更新 • Jul 27DTE: Quantum Communication Projects Will Support Future Repricing PotentialAnalysts have trimmed their fair value estimate for Deutsche Telekom slightly to €37.41 from €38.28, reflecting updated assumptions for discount rate, revenue growth, profit margins and future P/E multiples in light of mixed recent research signals, including Deutsche Bank's reduced €40 price target and Goldman Sachs removing the stock from its European Conviction List. Analyst Commentary Recent research on Deutsche Telekom points to a mixed but generally constructive stance, with most published views still framed within Buy ratings even as some targets and conviction levels are adjusted.
ライブニュース • Jul 02Deutsche Telekom Begins €2 Billion Buyback Program Under Board Authorization Through 2030Deutsche Telekom has launched a new multi-year share buyback program of up to €2 billion. Repurchases began in January 2026 and are scheduled to run through the end of 2026, under an authorization to buy back up to 10% of its share capital through 2030. Most of the repurchased shares are planned to be cancelled, with a portion reserved for executive and employee remuneration, which affects both the share count and how stock-based pay is sourced. Deutsche Telekom’s stock trades at €24.29, with the share price down 21.1% over the past 90 days, setting the buyback against a weaker recent trading backdrop. This kind of program can tighten the share base over time, so the main questions for investors are how consistently Deutsche Telekom uses the authorization and how that compares with alternative uses of cash such as debt reduction or dividends.
ライブニュース • Jul 01Deutsche Telekom Deploys AI to Accelerate Fiber Network Build and Tackle Labor ShortagesDeutsche Telekom is expanding its use of AI to speed up German fiber network rollout and automate tasks such as scheduling and site inspections, as part of a broader push to tackle the country’s worker shortage and productivity issues. The initiative is material because it targets structural labor constraints in Germany, where AI adoption is expected at more than two-thirds of firms this year, and is framed as part of a potential €300b contribution to economic growth from wider AI use. Deutsche Telekom’s share price is €23.85, with the stock down 17.4% over the past 30 days. The read-through is that Deutsche Telekom is leaning on AI to keep fiber build-out and operations moving despite tight labor supply. This could influence its cost base and capital deployment profile over time, but also exposes it to execution risk around large-scale technology rollout and integration.
分析記事 • Jun 21Deutsche Telekom (XTRA:DTE) Stock Could Be 30.6% Undervalued After Higher 2026 GuidanceDeutsche Telekom (XTRA:DTE) is back in focus after Q1 2026 results showed 4.7% organic revenue growth and a 7.5% rise in adjusted EBITDA AL, alongside upgraded full year guidance to about €47.50b. See our latest analysis for Deutsche Telekom. Despite the stronger Q1 update and higher guidance, Deutsche Telekom’s share price has moved the other way recently, with the stock down 8.95% over 30 days and 16.03% over 90 days, while the 5 year total shareholder return of 74.87% still reflects a very...
ライブニュース • Jun 10Deutsche Telekom and Palo Alto Networks Launch AI Security Platform Focused on European Regulatory ComplianceDeutsche Telekom and Palo Alto Networks announced "Sovereign Cortex with T Security," an AI-driven security platform aimed at highly regulated European industries. The solution is designed to meet European regulatory requirements such as GDPR, NIS2 and DORA while keeping data sovereignty controls under Deutsche Telekom governance. Initial target customers include healthcare, financial services, the public sector and critical national infrastructure, with availability planned for Q3 2026. This partnership highlights Deutsche Telekom’s effort to position its T Security unit as a key provider of cloud-delivered AI security that complies with strict European data rules. For investors, key areas of attention include how effectively the company can convert this offering into long-term security service contracts with regulated clients, and any execution risks tied to the planned 2026 rollout.
Reported Earnings • May 14First quarter 2026 earnings: EPS misses analyst expectationsFirst quarter 2026 results: EPS: €0.42 (down from €0.58 in 1Q 2025). Revenue: €30.6b (flat on 1Q 2025). Net income: €2.04b (down 28% from 1Q 2025). Profit margin: 6.7% (down from 9.4% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth.
ライブニュース • May 14Deutsche Telekom Lifts Guidance as T-Mobile US Growth and Fiber Expansion Drive Q1 ResultsDeutsche Telekom reported a strong start to 2026, highlighting broad-based growth in Q1 and raising full-year guidance, supported mainly by T-Mobile US performance. T-Mobile US added 217,000 postpaid accounts and increased its own annual projections, underlining the unit’s role as a key earnings driver within the group. In Germany, Deutsche Telekom reached 13 million households with its fiber network, while also flagging artificial intelligence as a priority area across the business. The combination of upgraded guidance, contributions from T-Mobile US and ongoing fiber expansion suggests management is leaning on both U.S. scale and German infrastructure build-out to support future earnings potential. You may want to watch how capital spending on fiber and AI initiatives affects cash flow and debt over time, as well as any shifts in T-Mobile US performance given its outsized weight in the group’s results.
お知らせ • Apr 23Deutsche Telekom and T-Mobile US Reportedly in Merger TalksReports swirl about possible merger talks between Deutsche Telekom AG (XTRA:DTE) and T-Mobile US, Inc. (NasdaqGS:TMUS), potentially creating the largest public merger and the world's biggest wireless operator. The proposed merger would form a new holding company, with stock bids for both firms, and be listed in the US and Europe. Deutsche Telekom shares saw a 1.5% decline on April 22, 2026 amid swirling reports of possible merger discussions with U.S.-based T-Mobile US. Should this merger proceed, it would set a record as the largest public merger ever conducted, leading to the formation of the world's largest wireless operator by market capitalization. Reports confirmed by Reuters indicate these discussions are in the early stages. Deutsche Telekom, holding a 53% stake in T-Mobile, refrained from commenting on these developments. Initially reported by Bloomberg, the merger would require Germany's approval, as it stands as the largest shareholder of Deutsche Telekom. The proposed plan aims to establish a new holding company to make stock bids for both telecommunications giants, followed by listings in the U.S. and Europe. The merger could result in a powerful entity with increased market liquidity, benefitting future business dealings. Observers note T-Mobile's stock has decreased by 25% over the past year, contrasting with a 10% decline for Deutsche Telekom.
ナラティブ更新 • Apr 21DTE: AI RAN Partnerships And Capital Returns Will Drive Future RepricingAnalysts have inched their average price target for Deutsche Telekom higher to about €38.28 from roughly €38.14, reflecting recent target increases from several firms along with more cautious updates to growth, margin and future P/E assumptions. Analyst Commentary Recent research on Deutsche Telekom reflects a mix of optimism and caution, with several firms adjusting targets and one major bank revisiting its stance over the past few weeks.
ナラティブ更新 • Apr 04DTE: AI Network Partnerships And Buybacks Will Drive Future RepricingDeutsche Telekom's updated analyst price target edges higher to €38.14 from €38.03. Analysts point to slightly lower discount rate assumptions, marginally firmer profit margin expectations and a small adjustment to future P/E as key supports for the change.
Upcoming Dividend • Mar 26Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 02 April 2026. Payment date: 08 April 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.4%).
ナラティブ更新 • Mar 21DTE: AI Network Partnerships And Buybacks Will Support Future RepricingAnalysts have modestly raised the fair value estimate for Deutsche Telekom to about €38.03 from €36.94. This reflects updated assumptions for slightly higher revenue growth and profit margins, along with a lower future P/E, supported by recent Street research that includes a €1.50 price target increase at JPMorgan and an upgrade to Buy at Erste Group.
Reported Earnings • Feb 28Full year 2025 earnings: EPS exceeds analyst expectationsFull year 2025 results: EPS: €1.97 (down from €2.27 in FY 2024). Revenue: €121.8b (up 2.9% from FY 2024). Net income: €9.61b (down 14% from FY 2024). Profit margin: 7.9% (down from 9.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 26Volvo Car AB Announces Board Member Re-Election DeclinesVolvo Car AB announced that Anna Mossberg and Caroline Grégoire Sainte Marie have declined re-election for the board.
ナラティブ更新 • Feb 14DTE: AI Collaboration And Buybacks Will Support Future Equity RepricingAnalysts have nudged their fair value estimate for Deutsche Telekom slightly higher to €36.94, reflecting updated assumptions for a lower discount rate, a modest adjustment to revenue growth and margins, and recent Street research. JPMorgan lifted its price target by €1, while Morgan Stanley set a target of €38.
ナラティブ更新 • Jan 31DTE: AI Partnerships And Buybacks Will Support Future Equity RepricingAnalysts have trimmed their fair value estimate for Deutsche Telekom from €37.25 to about €36.89. This reflects updated assumptions that pair slightly higher revenue expectations with a lower profit margin outlook and a higher future P/E, consistent with recent price target cuts such as the EUR 1.50 reduction at Barclays and the move to €38 from €40 at Morgan Stanley.
お知らせ • Jan 28Deutsche Telekom AG, Annual General Meeting, Apr 01, 2026Deutsche Telekom AG, Annual General Meeting, Apr 01, 2026, at 10:00 W. Europe Standard Time. Location: bonn Germany
ナラティブ更新 • Jan 17DTE: AI Data Center Partnership Will Underpin Future Equity RepricingAnalysts have trimmed their fair value estimate for Deutsche Telekom to €37.25 from €38.07, reflecting an updated view that balances higher assumed revenue growth and profit margins with a higher discount rate, as well as a slightly lower future P/E multiple after the recent cut in the Street price target to €38 from €40. Analyst Commentary The latest Street research around Deutsche Telekom is relatively limited, but the recent price target move to €38 from €40 offers some insight into how professionals are thinking about valuation, execution, and growth for the stock.
お知らせ • Jan 07Deutsche Telekom AG (XTRA:DTE) commences an Equity Buyback Plan under the authorization approved on April 9, 2025.Deutsche Telekom AG (XTRA:DTE) commences share repurchases on January 5, 2026, under the program mandated by the Annual General Meeting held on April 9, 2025. As per the mandate, the company is authorized to repurchase its own shares, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. The consideration per share paid (excluding transaction costs) may not be more than 10% above or 20% below the market price of the shares determined by the opening auction on the trading day (day of purchase) in the Xetra trading system of the Frankfurt Stock Exchange (or a successor system). The repurchased shares will be used for for all legally permitted purposes like retirement, sale of shares against cash payment to take advantage of the opportunities offered by the relevant market price quickly, flexibly, and cost-effectively as they arise, fulfillment of conversion or option rights or obligation, Issuance of shares under share-based remuneration systems or employee share schemes and to partially exclude shareholders’ subscription rights in favor of the creditors of bonds and/or profit participation rights with conversion or option rights or a conversion or option obligation when using own shares. The program is valid till April 8, 2030. As of April 9, 2025, the company had 4,986,458,596 shares issued. On November 13, 2025, the company announced a share repurchase program. Under the program, the company will repurchase €2,000 million worth of its shares. The program is valid till 2026.
分析記事 • Nov 20We Think That There Are Issues Underlying Deutsche Telekom's (ETR:DTE) EarningsDeutsche Telekom AG's ( ETR:DTE ) robust earnings report didn't manage to move the market for its stock. Our analysis...
Declared Dividend • Nov 15Dividend increased to €1.00Dividend of €1.00 is 11% higher than last year. Ex-date: 2nd April 2026 Payment date: 8th April 2026 Dividend yield will be 3.7%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 14Third quarter 2025 earnings: EPS exceeds analyst expectationsThird quarter 2025 results: EPS: €0.50 (down from €0.60 in 3Q 2024). Revenue: €29.6b (up 1.6% from 3Q 2024). Net income: €2.43b (down 18% from 3Q 2024). Profit margin: 8.2% (down from 10% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
お知らせ • Nov 14Deutsche Telekom AG announces Annual dividend, payable on April 08, 2026Deutsche Telekom AG announced Annual dividend of EUR 1.0000 per share payable on April 08, 2026, ex-date on April 02, 2026 and record date on April 07, 2026.
ナラティブ更新 • Oct 23Analysts Raise Deutsche Telekom Price Target Amid Improved Margins and Strategic PartnershipsAnalysts have increased their price target for Deutsche Telekom by approximately €0.49 to €38.07. They cited improved profit margin expectations, which more than offset slightly softer projected revenue growth and a modest uptick in the discount rate.
お知らせ • Oct 03Deutsche Telekom AG (XTRA:DTE) acquired Synedra Information Technologies GmbH.Deutsche Telekom AG (XTRA:DTE) acquired Synedra Information Technologies GmbH on October 1, 2025. The founding team of Synedra and its more than 80 employees will become part of the Telekom family as part of the acquisition. With the acquisition, Deutsche Telekom will expand its portfolio in the future to include the HCM solutions from synedra and the documentation solutions from akedis Innovations. Deutsche Telekom AG (XTRA:DTE) completed the acquisition of Synedra Information Technologies GmbH on October 1, 2025.
お知らせ • Aug 13+ 3 more updatesDeutsche Telekom AG to Report Q2, 2026 Results on Aug 06, 2026Deutsche Telekom AG announced that they will report Q2, 2026 results on Aug 06, 2026
Reported Earnings • Aug 10Second quarter 2025 earnings: Revenues in line with analyst expectationsSecond quarter 2025 results: Revenue: €29.3b (up 1.0% from 2Q 2024). Net income: €2.62b (up 25% from 2Q 2024). Profit margin: 8.9% (up from 7.2% in 2Q 2024). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Europe.
New Risk • Jun 25New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk High level of debt (99% net debt to equity).
Reported Earnings • May 16First quarter 2025 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2025 results: EPS: €0.58 (up from €0.40 in 1Q 2024). Revenue: €30.4b (up 6.4% from 1Q 2024). Net income: €2.85b (up 44% from 1Q 2024). Profit margin: 9.4% (up from 6.9% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 39%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth.
New Risk • May 15New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk High level of debt (105% net debt to equity).
Upcoming Dividend • Apr 03Upcoming dividend of €0.90 per shareEligible shareholders must have bought the stock before 10 April 2025. Payment date: 14 April 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (3.0%).
お知らせ • Mar 12Deutsche Telekom and T-Systems Announce Management ChangesDeutsche Telekom and its subsidiary T-Systems have appointed Gottfried Ludewig as the new head of the Public Sector division, effective 01 March 2025. Ludewig succeeds Juergen Schulz, who is leaving the company at his own request. Telekom said it is strengthening the cooperation between the public sector and the healthcare sector divisions with Ludwig in the double role of Head of Public Sector division and Head of Healthcare. The public sector division provides services to institutions at federal, state and local level in Germany, as well as the European level.
お知らせ • Mar 07uCloudlink Group Inc., Deutsche Telekom, Siemens, Airbus, and HSBC Receive Approval for Pilot Operations of Value-Added Telecoms Services from MIITUCLOUDLINK GROUP INC. announced that it was one of the first batch of 13 foreign-invested companies to receive approval for pilot operations of value-added telecommunications services by China’s Ministry of Industry and Information Technology (the “MIIT”). With the approval, UCLOUDLINK will be permitted to engage in value-added telecommunications services such as internet access and information services in China. The 13 foreign-invested companies approved for this pilot program are predominantly affiliates of well-known multinational corporations, including Deutsche Telekom, Siemens, Airbus, and HSBC. Companies that received approval are expected to provide Chinese consumers with a more diverse range of telecom services and products to stimulate market vitality, enhance service quality and standards, and better meet the growing digital lifestyle needs of the Chinese public.
お知らせ • Mar 05Deutsche Telekom AG, Annual General Meeting, Apr 09, 2025Deutsche Telekom AG, Annual General Meeting, Apr 09, 2025, at 10:00 W. Europe Standard Time.
お知らせ • Feb 28Deutsche Telekom AG announces Annual dividend, payable on April 14, 2025Deutsche Telekom AG announced Annual dividend of EUR 0.9000 per share payable on April 14, 2025, ex-date on April 10, 2025 and record date on April 11, 2025.
Reported Earnings • Feb 27Full year 2024 earnings: EPS exceeds analyst expectationsFull year 2024 results: EPS: €2.27 (up from €0.82 in FY 2023). Revenue: €122.3b (up 6.6% from FY 2023). Net income: €11.2b (up 174% from FY 2023). Profit margin: 9.2% (up from 3.6% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Jan 08+ 2 more updatesDeutsche Telekom AG to Report Q1, 2025 Results on May 15, 2025Deutsche Telekom AG announced that they will report Q1, 2025 results on May 15, 2025
Major Estimate Revision • Nov 25Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €1.60 to €1.80. Revenue forecast steady at €114.8b. Net income forecast to grow 36% next year vs 22% growth forecast for Telecom industry in Germany. Consensus price target up from €31.72 to €32.66. Share price rose 2.9% to €29.58 over the past week.
新しいナラティブ • Nov 24Critical Broadband Expansion And ESG Initiatives Drive US And European Telecom Growth Strategic investments in fiber and strong service revenue growth enhance Deutsche Telekom's competitive edge and market share in U.S. and Europe.
Reported Earnings • Nov 15Third quarter 2024 earnings: EPS exceeds analyst expectationsThird quarter 2024 results: EPS: €0.60 (up from €0.39 in 3Q 2023). Revenue: €29.4b (up 4.0% from 3Q 2023). Net income: €2.96b (up 54% from 3Q 2023). Profit margin: 10% (up from 6.8% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 09Second quarter 2024 earnings: EPS exceeds analyst expectationsSecond quarter 2024 results: EPS: €0.42 (up from €0.31 in 2Q 2023). Revenue: €29.0b (up 4.1% from 2Q 2023). Net income: €2.09b (up 36% from 2Q 2023). Profit margin: 7.2% (up from 5.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.0%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
Reported Earnings • May 19First quarter 2024 earnings: EPS exceeds analyst expectationsFirst quarter 2024 results: EPS: €0.40 (up from €0.34 in 1Q 2023). Revenue: €28.6b (flat on 1Q 2023). Net income: €1.98b (up 19% from 1Q 2023). Profit margin: 6.9% (up from 5.9% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 19%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings.
Upcoming Dividend • Apr 04Upcoming dividend of €0.77 per shareEligible shareholders must have bought the stock before 11 April 2024. Payment date: 15 April 2024. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.2%).
New Risk • Feb 26New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 6.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (107% net debt to equity). Dividend is not well covered by earnings (94% payout ratio). Profit margins are more than 30% lower than last year (3.6% net profit margin).
Reported Earnings • Feb 26Full year 2023 earnings: EPS exceeds analyst expectationsFull year 2023 results: EPS: €0.82 (down from €1.52 in FY 2022). Revenue: €114.7b (down 2.0% from FY 2022). Net income: €4.09b (down 46% from FY 2022). Profit margin: 3.6% (down from 6.5% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 31%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth.
New Risk • Feb 23New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risk High level of debt (105% net debt to equity).
お知らせ • Feb 16Deutsche Telekom and Brain.ai Unveils Revolutionary App-Less Phone At Mobile World CongressBrain.ai (also known as Brain Technologies Inc.) and Deutsche Telekom announced that they will unveil a new app-less phone that humanizes how people interact with their devices, powered by Brain.ai’s Natural AI interface. Brain.ai is an artificial intelligence company with a mission to make computers an extension of minds. Deutsche Telekom is one of the world’s leading integrated telecommunications companies. Brain and Deutsche Telekom will make the announcement at Mobile World Congress 2024 in Barcelona, demoing the visionary AI phone together. Natural AI dynamically creates interfaces on-demand, replacing the need for countless apps. Like a concierge, Natural AI takes over tasks and takes care of the details. Brain and Deutsche Telekom will announce and demo the new phone on stage on February 26, at Deutsche Telekom’s booth - Hall 3 at Booth 3M31. Today's software and apps operate on predefined pathways, with programmers establishing fixed connections from user interfaces to backend functionalities. Lacking the context of these connections made by humans, today’s software cannot dynamically adjust or adapt to human needs in real-time, nor can they learn from past connections to adapt to future needs they've not seen before. The AI phone Brain.ai is presenting together with Deutsche Telekom is breaking the paradigm–with an app-free interface that predicts and generates the next interface contextually, flowing with thoughts.
Major Estimate Revision • Feb 03Consensus EPS estimates increase by 18%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.47 to €2.93. Revenue forecast steady at €111.6b. Net income forecast to grow 94% next year vs 16% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €26.99. Share price was steady at €22.68 over the past week.
お知らせ • Jan 09Deutsche Telekom AG (XTRA:DTE) commences an Equity Buyback Plan, under the authorization approved on April 1, 2021.Deutsche Telekom AG (DB:DTE) commences share repurchases on January 3, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 1, 2021. As per the mandate, the company will repurchase its own shares, such that, at no time it’s holding in own shares represent more than 10% of its issued share capital. The repurchases will be made either on the stock exchange or through a public offer to all shareholders or a public invitation to make a purchase offer. If the shares are acquired on the stock exchange, the repurchase price (excluding transaction costs) may not be more than 10% above or 20% below the market price of the shares determined by the opening auction on the trading day on which the contractual transaction was concluded in the Xetra trading system of Deutsche Börse AG (or a subsequent system). If the shares are purchased through a public purchase offer presented to all shareholders, the purchase price offered, or the limits of the purchase price range offered per share (excluding transaction costs) may not be more than 10% above or below the average market price of the share between the 9th and 5th trading day before the date of publication of the offer. The repurchased shares will be used to fulfill option and/or conversion rights and obligations from convertible bonds and/or bonds with warrants issued, either directly or through a company. The program will be valid till March 31, 2026. As of February 26, 2021, the company has 4,761,458,596 shares issued. On January 2, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to €2,000 million worth of its shares. The purpose of the program is to partially offset the dilutive effect of the 2021 capital increase. The shares repurchased will be retired. The program will be carried out in several tranches and until December 31, 2024. On January 2, 2024, the company announced a share repurchase program. Under the 1st tranche of the program, the company will repurchase up to 25,000,000 shares, for €550 million. The repurchases will commence from January 3, 2024 and will run until April 4, 2024.
Reported Earnings • Nov 13Third quarter 2023 earnings: EPS exceeds analyst expectationsThird quarter 2023 results: EPS: €0.39 (up from €0.30 in 3Q 2022). Revenue: €28.2b (down 4.8% from 3Q 2022). Net income: €1.92b (up 31% from 3Q 2022). Profit margin: 6.8% (up from 5.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year.
お知らせ • Nov 13Deutsche Telekom AG, Annual General Meeting, Apr 10, 2024Deutsche Telekom AG, Annual General Meeting, Apr 10, 2024, at 10:00 Central European Standard Time.
Major Estimate Revision • Nov 10Consensus EPS estimates increase by 28%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €3.17 to €4.06. Revenue forecast steady at €111.7b. Net income forecast to grow 110% next year vs 12% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.71. Share price was steady at €21.44 over the past week.
お知らせ • Nov 04Deutsche Telekom AG Plans Higher Dividend for 2023The Board of Management of Deutsche Telekom AG plans to propose to the annual shareholder meeting to increase the dividend for the 2023 financial year to 0.77 euros per dividend-bearing share, up from 0.70 euros per share for the 2022 financial year.
お知らせ • Oct 17Deutsche Telekom Appoints Ferri Abolhassan as the New Member of the Executive Board, Effective January 1, 2024Deutsche Telekom has appointed Ferri Abolhassan as the new member of the executive board, responsible for T-Systems, effective on 01 January 2024.
お知らせ • Oct 07Deutsche Telekom and Mavenir Unveil Advancements in 5G Standalone Network Slicing Service OpportunitiesMavenir together with Deutsche Telekom announced significant advancements across two projects both focused on progressing monetisation opportunities enabled by 5G standalone network slicing technologies and powered by Mavenir’s cloud-native Converged Packet Core. 5G Live Video Production Service, with RTL Deutschland, for stable broadcasting of live events using 5G standalone and network slicing technologies. This new service, now commercially available from Deutsche Telekom, allows professional video or media production companies to transmit live HD video streams reliably over the 5G network, even without special equipment (e.g. satellite van). To further increase the service reach, this use case can also be extended to mobile journalism, where regular consumers can transmit spontaneous video production using their own smartphones. Demonstration of a multi-domain orchestration proof-of-concept (PoC) with open APIs for 5G dynamic network slicing services on-demand. The collaborative PoC illustrates the ease with which businesses can submit a service request through Deutsche Telekom's customer interface, initiating the setup of a protected, tailored 5G network slice that assures superior Quality of Service (QoS) tailored to a customer’s specific connectivity needs. The complete customer journey from the moment an order is placed, to the translation of that order into precise deployment and configuration details for network functions, results in the activation of a dedicated end-to-end network slice with a custom Service Level Agreement (SLA). Network Slicing solution demonstrated by Deutsche Telekom for the multi domain orchestration PoC enables enterprises to book a network slice for video production or any other use case, based on the slice availability at their location. The entire network slice lifecycle is automated, from ordering to instantiation to configuration to management. The business support system (BSS) takes the customer order and invokes the slice manager/orchestrator. The Mavenir Digital Cloud Automation (MDCA), which serves as a network function management function (NFMF), exposes REST API to the slice orchestrator to receive slice creation and configuration requests. To enable seamless integration with 3rd party orchestrators, Mavenir made the API specification publicly available. The MDCA which is Mavenir’s CICD framework, uses GitOps practices to automate the creation and configuration of the slice. As part of this procedure, the required network function (NF) for the slice is instantiated, the slice-specific and other dependent NFs are configured. Once the slice is activated, the slice specific KPIs are sent to the operations support system (OSS) layer. This enables monitoring of the network slice's performance, and any feedback action to be taken for Slice Assurance follows the same path as creation i.e. via MDCA. The 5G Live Video Production Service and the Multi-Domain Orchestration PoC was implemented using Mavenir’s cloud-native Converged Packet Core components and the MDCA serving as the NFMF. Mavenir’s end-to-end network slicing solution comprising of RAN, Core, Mavenir Digital Enablement (MDE serving as the BSS), and MDCA based Automation suite provides the same customer journey and slice lifecycle management as that of the Deutsche Telekom solution. MDE exposes TMF based Open APIs easing the integration with third-party management interfaces. This solution provides several benefits to CSPs, consumers and enterprises, including: Increased agility and flexibility: Businesses can quickly and easily deploy and manage network slices to meet their specific needs. Improved efficiency and cost savings: Businesses can optimise their network resources by using network slices for specific applications or use cases. Enhanced security and isolation: Network slices can be isolated from each other to improve security and performance. New revenue opportunities: Businesses can offer new and innovative services to their customers by using network slicing.
Major Estimate Revision • Aug 19Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.77 to €3.14. Revenue forecast steady at €111.4b. Net income forecast to grow 96% next year vs 0.2% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.72. Share price was steady at €19.01 over the past week.
お知らせ • Jul 24+ 4 more updatesDeutsche Telekom AG to Report Q4, 2023 Results on Feb 23, 2024Deutsche Telekom AG announced that they will report Q4, 2023 results on Feb 23, 2024
Major Estimate Revision • Jul 23Consensus EPS estimates increase by 13%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.42 to €2.74. Revenue forecast steady at €112.0b. Net income forecast to grow 142% next year vs 1.4% decline forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.89. Share price was steady at €19.67 over the past week.
お知らせ • Jun 09Deutsche Telekom Has Appoints Wolfgang Metze as Its New Managing Director for Private Customers in Germany and Member of the Management Board of Telekom DeutschlandDeutsche Telekom has appointed Wolfgang Metze as its new managing director for private customers in Germany, effective from 01 August. Metze will also become a member of the management board of Telekom Deutschland. He will report directly to the Telekom Deutschland MD Srini Gopalan.
Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.34 (vs €0.78 in 1Q 2022)First quarter 2023 results: EPS: €0.34 (down from €0.78 in 1Q 2022). Revenue: €28.5b (flat on 1Q 2022). Net income: €1.67b (down 57% from 1Q 2022). Profit margin: 5.9% (down from 14% in 1Q 2022). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 17% per year.
Major Estimate Revision • May 14Consensus EPS estimates increase by 36%The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €1.44 to €1.96. Revenue forecast steady at €113.0b. Net income forecast to grow 64% next year vs 4.7% growth forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €26.15. Share price was steady at €21.66 over the past week.
Upcoming Dividend • Mar 30Upcoming dividend of €0.70 per share at 3.2% yieldEligible shareholders must have bought the stock before 06 April 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.2%).
Major Estimate Revision • Mar 02Consensus EPS estimates increase by 11%, revenue downgradedThe consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €115.9b to €114.5b. EPS estimate rose from €1.35 to €1.50. Net income forecast to shrink 8.9% next year vs 0.1% decline forecast for Telecom industry in Germany. Consensus price target broadly unchanged at €25.07. Share price was steady at €21.15 over the past week.
Reported Earnings • Feb 25Full year 2022 earnings: EPS exceeds analyst expectationsFull year 2022 results: EPS: €1.52 (up from €0.82 in FY 2021). Revenue: €117.1b (up 6.0% from FY 2021). Net income: €7.56b (up 90% from FY 2021). Profit margin: 6.5% (up from 3.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
