Telenor ASA

LSE:0G8C Stock Report

Market Cap: NOK 204.6b

Telenor Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 0G8C (NOK149.85) is trading below our estimate of future cash flow value (NOK291.37)

Significantly Below Future Cash Flow Value: 0G8C is trading below future cash flow 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 Ratio12.2x
EarningsNOK 16.80b
Market CapNOK 204.60b

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 Average43x
BT.A BT Group
17.9x11.44%UK£19.3b
HTWS Helios Towers
76.9x29.25%UK£2.3b
AAF Airtel Africa
25x27.26%UK£12.7b
VTWR Vantage Towers
52.1xn/a€19.2b
0G8C Telenor
12.2x-6.74%NOK 204.6b

Price-To-Earnings vs Peers: 0G8C is good value based on its Price-To-Earnings Ratio (12.2x) compared to the peer average (43x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0G8C 12.2xIndustry Avg. 17.9xNo. of Companies12PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0G8C is good value based on its Price-To-Earnings Ratio (12.2x) compared to the European Telecom industry average (18.5x).

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 Ratio12.2x
Fair PE Ratio19.2x

Price-To-Earnings vs Fair Ratio: 0G8C is good value based on its Price-To-Earnings Ratio (12.2x) compared to the estimated Fair Price-To-Earnings Ratio (19.2x).

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 149.85
NOK 167.79
+11.97%
10.00%NOK 210.00NOK 138.00n/a19
Jun ’27NOK 149.33
NOK 167.79
+12.37%
10.00%NOK 210.00NOK 138.00n/a19
May ’27NOK 151.05
NOK 169.58
+12.27%
10.07%NOK 210.00NOK 138.00n/a19
Apr ’27NOK 171.15
NOK 175.29
+2.42%
11.45%NOK 220.00NOK 138.00n/a17
Mar ’27NOK 175.43
NOK 174.33
-0.63%
11.54%NOK 220.00NOK 138.00n/a18
Feb ’27NOK 162.07
NOK 168.72
+4.10%
10.27%NOK 210.00NOK 138.00n/a18
Jan ’27NOK 145.40
NOK 166.82
+14.73%
10.90%NOK 210.00NOK 138.00n/a17
Dec ’26NOK 145.23
NOK 169.59
+16.77%
10.79%NOK 210.00NOK 138.00n/a17
Nov ’26NOK 150.99
NOK 170.29
+12.78%
10.90%NOK 210.00NOK 138.00n/a17
Oct ’26NOK 165.75
NOK 168.94
+1.92%
11.15%NOK 195.00NOK 138.00n/a17
Sep ’26NOK 167.43
NOK 163.25
-2.50%
9.84%NOK 195.00NOK 138.00n/a16
Aug ’26NOK 160.49
NOK 163.25
+1.72%
9.84%NOK 195.00NOK 138.00n/a16
Jul ’26NOK 156.91
NOK 160.65
+2.38%
9.40%NOK 185.00NOK 130.00n/a17
Jun ’26NOK 156.70
NOK 160.33
+2.32%
8.70%NOK 185.00NOK 130.00NOK 149.3318
May ’26NOK 156.20
NOK 158.39
+1.40%
8.47%NOK 186.00NOK 130.00NOK 151.0518
Apr ’26NOK 151.90
NOK 157.44
+3.65%
8.53%NOK 186.00NOK 130.00NOK 171.1518
Mar ’26NOK 145.73
NOK 156.83
+7.62%
9.09%NOK 186.00NOK 130.00NOK 175.4318
Feb ’26NOK 137.60
NOK 153.72
+11.72%
9.76%NOK 186.00NOK 125.00NOK 162.0718
Jan ’26NOK 127.00
NOK 150.95
+18.86%
11.67%NOK 186.00NOK 110.00NOK 145.4019
Dec ’25NOK 130.60
NOK 150.42
+15.18%
11.25%NOK 180.00NOK 110.00NOK 145.2319
Nov ’25NOK 137.06
NOK 149.32
+8.94%
11.51%NOK 180.00NOK 110.00NOK 150.9919
Oct ’25NOK 135.11
NOK 141.74
+4.90%
11.77%NOK 170.00NOK 110.00NOK 165.7519
Sep ’25NOK 130.98
NOK 140.37
+7.17%
12.74%NOK 165.00NOK 95.00NOK 167.4319
Aug ’25NOK 130.00
NOK 139.83
+7.56%
13.03%NOK 165.00NOK 95.00NOK 160.4918
Jul ’25NOK 122.45
NOK 139.67
+14.06%
12.66%NOK 165.00NOK 95.00NOK 156.9118
Jun ’25NOK 123.78
NOK 139.28
+12.52%
13.53%NOK 165.00NOK 95.00NOK 156.7018
NOK 168.07
Fair Value
10.8% undervalued intrinsic discount
19
Number of Analysts

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 Analysis2026/06/09 08:37
End of Day Share Price 2026/06/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Telenor ASA is covered by 36 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
William Noel MilnerArete Research Services LLP
John DaviesBanco Santander