Telenor ASA

LSE:0G8C Stock Report

Market Cap: NOK 171.7b

Telenor Valuation

Is 0G8C undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 0G8C when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0G8C (NOK125.36) is trading below our estimate of fair value (NOK159.48)

Significantly Below Fair Value: 0G8C is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0G8C?

Key metric: As 0G8C is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0G8C. This is calculated by dividing 0G8C's market cap by their current earnings.
What is 0G8C's PE Ratio?
PE Ratio17.7x
EarningsNOK 9.70b
Market CapNOK 171.66b

Price to Earnings Ratio vs Peers

How does 0G8C's PE Ratio compare to its peers?

The above table shows the PE ratio for 0G8C vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.6x
BT.A BT Group
18.4x14.1%UK£14.1b
VOD Vodafone Group
8.9x3.7%UK£17.4b
GAMA Gamma Communications
26.1x14.2%UK£1.5b
KPN Koninklijke KPN
17x6.8%€13.6b
0G8C Telenor
17.7x0.7%NOK 171.7b

Price-To-Earnings vs Peers: 0G8C is expensive based on its Price-To-Earnings Ratio (17.7x) compared to the peer average (17.6x).

Price to Earnings Ratio vs Industry

How does 0G8C's PE Ratio compare vs other companies in the European Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0G8C 17.7xIndustry Avg. 17.6xNo. of Companies8PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0G8C is expensive based on its Price-To-Earnings Ratio (17.7x) compared to the European Telecom industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is 0G8C'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.

0G8C PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.7x
Fair PE Ratio17.5x

Price-To-Earnings vs Fair Ratio: 0G8C is expensive based on its Price-To-Earnings Ratio (17.7x) compared to the estimated Fair Price-To-Earnings Ratio (17.5x).

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 0G8C forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 125.36
NOK 150.95
+20.4%
11.7%NOK 186.00NOK 110.00n/a19
Dec ’25NOK 130.60
NOK 150.42
+15.2%
11.2%NOK 180.00NOK 110.00n/a19
Nov ’25NOK 137.06
NOK 149.32
+8.9%
11.5%NOK 180.00NOK 110.00n/a19
Oct ’25NOK 135.11
NOK 141.74
+4.9%
11.8%NOK 170.00NOK 110.00n/a19
Sep ’25NOK 130.98
NOK 140.37
+7.2%
12.7%NOK 165.00NOK 95.00n/a19
Aug ’25NOK 130.00
NOK 139.83
+7.6%
13.0%NOK 165.00NOK 95.00n/a18
Jul ’25NOK 122.45
NOK 139.67
+14.1%
12.7%NOK 165.00NOK 95.00n/a18
Jun ’25NOK 123.78
NOK 139.28
+12.5%
13.5%NOK 165.00NOK 95.00n/a18
May ’25NOK 127.93
NOK 138.50
+8.3%
13.6%NOK 165.00NOK 95.00n/a18
Apr ’25NOK 120.75
NOK 135.17
+11.9%
14.1%NOK 165.00NOK 95.00n/a18
Mar ’25NOK 115.99
NOK 132.06
+13.9%
15.7%NOK 165.00NOK 92.00n/a18
Feb ’25NOK 116.92
NOK 131.17
+12.2%
15.4%NOK 170.00NOK 92.00n/a18
Jan ’25NOK 116.01
NOK 130.17
+12.2%
15.8%NOK 170.00NOK 92.00n/a18
Dec ’24NOK 117.27
NOK 127.61
+8.8%
16.5%NOK 165.00NOK 92.00NOK 130.6018
Nov ’24NOK 115.30
NOK 128.05
+11.1%
16.4%NOK 165.00NOK 92.00NOK 137.0619
Oct ’24NOK 121.50
NOK 129.74
+6.8%
16.5%NOK 160.00NOK 88.00NOK 135.1119
Sep ’24NOK 114.60
NOK 128.16
+11.8%
16.2%NOK 157.00NOK 88.00NOK 130.9819
Aug ’24NOK 107.92
NOK 130.21
+20.7%
15.7%NOK 157.00NOK 90.00NOK 130.0019
Jul ’24NOK 108.81
NOK 131.63
+21.0%
15.3%NOK 155.00NOK 90.00NOK 122.4519
Jun ’24NOK 114.30
NOK 131.16
+14.7%
16.0%NOK 155.00NOK 90.00NOK 123.7819
May ’24NOK 132.98
NOK 129.11
-2.9%
17.8%NOK 160.00NOK 86.00NOK 127.9318
Apr ’24NOK 122.51
NOK 123.47
+0.8%
17.1%NOK 160.00NOK 86.00NOK 120.7519
Mar ’24NOK 117.00
NOK 123.16
+5.3%
17.3%NOK 160.00NOK 84.00NOK 115.9919
Feb ’24NOK 104.30
NOK 120.79
+15.8%
20.1%NOK 170.00NOK 80.00NOK 116.9219
Jan ’24NOK 91.48
NOK 123.67
+35.2%
21.2%NOK 170.00NOK 80.00NOK 116.0118
Dec ’23NOK 95.87
NOK 126.06
+31.5%
19.7%NOK 170.00NOK 82.00NOK 117.2718

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 10:20
End of Day Share Price 2024/12/23 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

Telenor ASA is covered by 48 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Peter NielsenABG Sundal Collier
Jean-Michel SalvadorAlphaValue
Markus BjerkeArctic Securities ASA