Koninklijke KPN N.V.

DB:KPN Stock Report

Market Cap: €13.7b

Koninklijke KPN Valuation

Is KPN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KPN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KPN (€3.49) is trading below our estimate of fair value (€10.01)

Significantly Below Fair Value: KPN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KPN?

Key metric: As KPN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KPN. This is calculated by dividing KPN's market cap by their current earnings.
What is KPN's PE Ratio?
PE Ratio17.1x
Earnings€800.00m
Market Cap€13.66b

Price to Earnings Ratio vs Peers

How does KPN's PE Ratio compare to its peers?

The above table shows the PE ratio for KPN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.5x
O2D Telefónica Deutschland Holding
22.7x-11.4%€6.2b
DTE Deutsche Telekom
23.7x15.7%€142.2b
FNTN freenet
11.9x3.8%€3.3b
E4C ecotel communication ag
51.6x64.5%€47.8m
KPN Koninklijke KPN
17.1x6.8%€13.7b

Price-To-Earnings vs Peers: KPN is good value based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (27.5x).

Price to Earnings Ratio vs Industry

How does KPN's PE Ratio compare vs other companies in the European Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KPN 17.1xIndustry Avg. 17.6xNo. of Companies7PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KPN is good value based on its Price-To-Earnings Ratio (17.1x) compared to the European Telecom industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is KPN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KPN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.1x
Fair PE Ratio24.4x

Price-To-Earnings vs Fair Ratio: KPN is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (24.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KPN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.49
€3.89
+11.6%
12.9%€4.70€2.30n/a21
Dec ’25€3.66
€3.87
+5.9%
12.7%€4.70€2.30n/a21
Nov ’25€3.62
€3.84
+6.1%
12.4%€4.70€2.30n/a22
Oct ’25€3.67
€3.81
+4.0%
11.9%€4.50€2.30n/a22
Sep ’25€3.67
€3.78
+3.3%
12.2%€4.50€2.30n/a21
Aug ’25€3.61
€3.78
+4.6%
12.3%€4.50€2.30n/a21
Jul ’25€3.62
€3.70
+2.3%
13.1%€4.60€2.30n/a21
Jun ’25€3.44
€3.69
+7.3%
13.1%€4.60€2.30n/a21
May ’25€3.41
€3.69
+8.2%
13.1%€4.60€2.30n/a21
Apr ’25€3.46
€3.66
+5.7%
13.4%€4.50€2.30n/a20
Mar ’25€3.39
€3.63
+7.0%
13.4%€4.50€2.30n/a20
Feb ’25€3.18
€3.62
+13.7%
13.5%€4.50€2.30n/a20
Jan ’25€3.11
€3.59
+15.6%
13.6%€4.50€2.30n/a20
Dec ’24€3.12
€3.58
+14.7%
12.9%€4.30€2.30€3.6620
Nov ’24€3.18
€3.60
+13.3%
13.1%€4.30€2.30€3.6220
Oct ’24€3.12
€3.61
+15.5%
13.6%€4.40€2.30€3.6720
Sep ’24€3.22
€3.64
+13.0%
13.5%€4.40€2.30€3.6719
Aug ’24€3.30
€3.64
+10.3%
13.5%€4.40€2.30€3.6119
Jul ’24€3.35
€3.64
+8.7%
13.1%€4.40€2.30€3.6218
Jun ’24€3.21
€3.61
+12.7%
12.8%€4.40€2.30€3.4419
May ’24€3.28
€3.58
+9.1%
14.1%€4.40€2.30€3.4119
Apr ’24€3.24
€3.54
+9.2%
14.2%€4.40€2.30€3.4620
Mar ’24€3.21
€3.52
+9.6%
14.6%€4.40€2.30€3.3920
Feb ’24€3.14
€3.42
+9.0%
16.4%€4.40€2.30€3.1820
Jan ’24€2.90
€3.39
+16.9%
16.2%€4.40€2.30€3.1120
Dec ’23€2.93
€3.42
+16.7%
15.8%€4.40€2.30€3.1220

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/27 18:52
End of Day Share Price 2024/12/27 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Koninklijke KPN N.V. is covered by 59 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Robert Jan VosABN AMRO Bank N.V.
Jean-Michel SalvadorAlphaValue
William Noel MilnerArete Research Services LLP