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Tele2 AB
(TEL2.B)
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Rating:68Neutral
Price Target:
kr175.00
▲(2.37% Upside)
Action:Reiterated
Date:10/17/26
The score is driven primarily by strong recent profitability and generally solid cash generation, tempered by meaningful leverage and uneven free-cash-flow momentum. Valuation adds support via a moderate P/E and high dividend yield, while technicals are only neutral-to-weak given the negative MACD and trading below longer-term moving averages.
Positive Factors
Profitability and margins
The stronger TTM operating and net margins indicate improved earnings power and better economics from Tele2’s core activities. If maintained, this profitability can support investment, dividends, and debt reduction, while giving the company greater resilience across the next several quarters.
Negative Factors
Meaningful leverage
Leverage above equity remains a structural constraint for Tele2, even with recent improvement. Higher debt reduces financial flexibility, increases sensitivity to financing conditions, and can limit the funds available for network investment, acquisitions, or shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and margins
The stronger TTM operating and net margins indicate improved earnings power and better economics from Tele2’s core activities. If maintained, this profitability can support investment, dividends, and debt reduction, while giving the company greater resilience across the next several quarters.
Read all positive factors
Tele2 AB (TEL2.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr111.89B
Dividend Yield6.64%
Average Volume (3M)2.65M
Price to Earnings (P/E)10.7
Beta (1Y)0.15
Revenue Growth2.18%
EPS Growth135.71%
CountrySE
Employees3,866
SectorGeneral
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)14.58
Shares Outstanding688,031,000
10 Day Avg. Volume2,356,905
30 Day Avg. Volume2,651,994
Financial Highlights & Ratios
PEG Ratio1.20
Price to Book (P/B)4.81
Price to Sales (P/S)3.58
P/FCF Ratio14.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr185.00Price Target Upside8.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)14.97
Revenue Forecast (FY)kr30.41B
Tele2 AB Business Overview & Revenue Model
Company Description
Tele2 AB (publ) operates as a telecommunications provider, delivering a wide array of fixed and mobile connectivity and entertainment solutions across Sweden, Lithuania, Latvia, and Estonia. Its extensive service portfolio encompasses mobile voice...
How the Company Makes Money
Tele2 makes money mainly by selling connectivity services on recurring subscription and usage-based terms. The largest revenue stream is typically service revenue from mobile customers (individuals and businesses) who pay monthly fees for mobile p...
Tele2 AB Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
60
Neutral
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 30.12B | 29.89B | 29.58B | 29.10B | 28.10B | 26.79B |
| Gross Profit | 13.04B | 13.00B | 12.73B | 11.81B | 11.22B | 10.92B |
| EBITDA | 18.52B | 12.85B | 11.89B | 11.79B | 11.04B | 10.72B |
| Net Income | 10.11B | 4.59B | 3.87B | 3.73B | 5.57B | 4.31B |
Balance Sheet | ||||||
| Total Assets | 67.45B | 62.88B | 64.44B | 66.14B | 67.66B | 74.25B |
| Cash, Cash Equivalents and Short-Term Investments | 3.59B | 305.00M | 191.00M | 1.63B | 1.14B | 837.00M |
| Total Debt | 30.75B | 29.12B | 30.67B | 31.78B | 32.45B | 30.81B |
| Total Liabilities | 44.72B | 40.61B | 42.34B | 43.28B | 43.97B | 43.11B |
| Stockholders Equity | 22.74B | 22.27B | 22.10B | 22.78B | 23.68B | 31.14B |
Cash Flow | ||||||
| Free Cash Flow | 7.74B | 7.63B | 5.81B | 5.95B | 4.67B | 6.97B |
| Operating Cash Flow | 11.43B | 11.34B | 9.78B | 10.01B | 8.25B | 10.30B |
| Investing Cash Flow | 944.00M | -3.67B | -4.00B | -3.93B | 5.26B | -3.02B |
| Financing Cash Flow | -9.08B | -7.72B | -7.10B | -5.59B | -13.64B | -7.26B |
Tele2 AB Technical Analysis
Neutral
170.95
Price Trends
160.87
Negative
162.15
Negative
166.77
Negative
Market Momentum
-0.85
Negative
49.95
Neutral
70.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TEL2.B, the sentiment is Neutral. The current price of 170.95 is above the 20-day moving average (MA) of 156.58, above the 50-day MA of 160.87, and above the 200-day MA of 166.77, indicating a neutral trend. The MACD of -0.85 indicates Negative momentum. The RSI at 49.95 is Neutral, neither overbought nor oversold. The STOCH value of 70.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:TEL2.B.
Tele2 AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr629.09M | 18.32 | ― | ― | 2.76% | 92.66% | |
68 Neutral | kr111.89B | 10.72 | 41.74% | 6.64% | 2.18% | 135.71% | |
67 Neutral | kr3.71B | 17.03 | 12.70% | ― | 77.35% | ― | |
63 Neutral | kr1.21B | 11.30 | ― | 4.03% | -1.56% | 59.96% | |
63 Neutral | kr176.50B | 36.84 | 9.48% | 4.25% | -4.06% | 14.70% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | kr2.27B | -2.85 | ― | 1.15% | 2.94% | 83.00% |
* General Sector Average
SE:TEL2.B
Tele2 AB
160.30
16.32
11.33%
SE:TELIA
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SE:DUST
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SE:ENEA
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Tele2 AB Corporate Events
Tele2 Adjusts Share Voting Structure After Class A to B Conversion
Jul 31, 2026
Tele2 AB has announced a change in its voting structure after shareholders requested the conversion of 2,660,000 class A shares into class B shares under the company’s articles of association. Following the reclassification, Tele2 now has 69...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.