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Telia Company AB
(TELIA)
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Rating:61Neutral
Price Target:
kr49.00
▲(12.80% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by a recovering financial profile with solid cash generation but constrained by elevated leverage and uneven growth/margin stability. The latest earnings call was constructive (reiterated targets, improving revenue/EBITDA and strong cash flow), partially offset by near-term phasing and specific operational headwinds. Technical indicators remain weak, and valuation is mixed with a supportive yield but a high P/E.
Positive Factors
Free cash flow & CapEx discipline
Consistent positive free cash flow and disciplined CapEx provide durable internal funding for network investment, debt reduction or shareholder returns. This cash-generation profile supports strategic flexibility in a capital-intensive telecom industry and cushions execution risk during revenue cycles.
Negative Factors
Elevated leverage
Material leverage constrains financial flexibility in a capital-intensive sector, reducing room for large bolt-on acquisitions or accelerated buybacks. Interest rate or FX swings could raise financing costs and slow deleveraging, making balance-sheet risk a persistent structural constraint.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow & CapEx discipline
Consistent positive free cash flow and disciplined CapEx provide durable internal funding for network investment, debt reduction or shareholder returns. This cash-generation profile supports strategic flexibility in a capital-intensive telecom industry and cushions execution risk during revenue cycles.
Read all positive factors
Telia Company AB (TELIA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr171.28B
Dividend Yield4.49%
Average Volume (3M)5.46M
Price to Earnings (P/E)36.0
Beta (1Y)0.05
Revenue Growth-4.06%
EPS Growth14.70%
CountrySE
Employees14,494
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)1.25
Shares Outstanding3,932,109,400
10 Day Avg. Volume6,046,933
30 Day Avg. Volume5,455,516
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)3.03
Price to Sales (P/S)1.91
P/FCF Ratio12.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr45.25Price Target Upside4.17% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)2.26
Revenue Forecast (FY)kr83.43B
Telia Company AB Business Overview & Revenue Model
Company Description
Operating across Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia, Telia Company AB (publ) delivers a comprehensive range of communication solutions. These offerings encompass mobile, broadband, television, and landline services, c...
How the Company Makes Money
Telia primarily makes money by selling subscription-based connectivity and communication services. Its core revenue streams typically include: (1) Mobile services: recurring monthly fees and usage-based charges for consumer and enterprise mobile v...
Telia Company AB Earnings Call Summary
Earnings Call Date:Jul 17, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented multiple clear operational and financial positives: accelerating service revenue growth (2.8%), EBITDA expansion (3.4%) and margin improvement (40.5%), strong free cash flow and disciplined CapEx (SEK 12.5bn rolling 12 months), plus standout country performances in Sweden and Lithuania and successful execution on M&A and simplification. Near-term headwinds were acknowledged — notably a Swedish broadband ARPU decline (-9%), Norway EBITDA pressure from content costs (-2%), phasing that points to lower Q3 EBITDA growth, an upcoming circa SEK 400m Norwegian tax payment, and timing uncertainty around the Norway JV and the Latvia exit. Overall, the highlights (broad-based revenue acceleration, cash generation, margin and ROCE improvement, and strategic progress) outweigh the contained operational and timing lowlights.Positive Updates
Group Service Revenue Acceleration
Service revenue growth accelerated to 2.8% in Q2 (highest in four years), comfortably above the group's full-year ambition of ~2%, driven by Sweden, Lithuania and an improving Norway.
Negative Updates
Swedish Broadband ARPU Decline
Broadband ARPU in Sweden declined by c.9% this quarter, partly driven by the addition of lower-ARPUs from the Bredband2 acquisition and a phase of stronger volume growth with less pricing.
Read all updates
Q2-2026 Updates
Positive
Negative
Group Service Revenue Acceleration
Service revenue growth accelerated to 2.8% in Q2 (highest in four years), comfortably above the group's full-year ambition of ~2%, driven by Sweden, Lithuania and an improving Norway.
Read all positive updates
Company Guidance
Management reiterated its full‑year targets while flagging near‑term phasing: Q2 service revenue grew 2.8% (above the full‑year ambition of ~2%) and Q2 EBITDA rose 3.4% with an expanded EBITDA margin of 40.5%; full‑year EBITDA growth was reiterated at around 3% but management expects Q3 EBITDA growth below 2% with a re‑acceleration in Q4 (second‑half growth in line with consensus). Rolling 12‑month CapEx was SEK 12.5bn (guidance: < SEK 13bn), EBITDA less CapEx reached SEK 20bn (≈ +5% y/y), free cash flow was SEK 2.2bn in Q2 and just above SEK 4bn YTD with a full‑year FCF ambition of ~SEK 9bn that now includes a circa SEK 400m tax payment in Norway; leverage is just over 2x (net debt up ~SEK 700m) and ROCE improved to 10.6% (from 9.3% a year ago). OpEx fell ~1% and OpEx/service‑revenue improved to 29.1% (vs 30.2% LY).Telia Company AB Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
54
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 81.83B | 80.98B | 89.13B | 88.78B | 90.83B | 88.34B |
| Gross Profit | 19.80B | 19.72B | 55.65B | 40.22B | 30.88B | 30.03B |
| EBITDA | 27.51B | 32.00B | 35.11B | 36.11B | 14.02B | 34.24B |
| Net Income | 4.94B | 3.49B | 7.08B | 303.00M | -14.16B | 11.68B |
Balance Sheet | ||||||
| Total Assets | 196.43B | 189.25B | 204.27B | 232.00B | 222.79B | 237.40B |
| Cash, Cash Equivalents and Short-Term Investments | 10.96B | 11.89B | 10.93B | 18.75B | 9.18B | 20.45B |
| Total Debt | 86.95B | 101.77B | 94.38B | 112.57B | 94.08B | 40.58B |
| Total Liabilities | 142.85B | 134.43B | 144.91B | 175.00B | 154.86B | 153.48B |
| Stockholders Equity | 49.84B | 51.07B | 55.44B | 53.47B | 64.24B | 80.73B |
Cash Flow | ||||||
| Free Cash Flow | 13.20B | 12.62B | 7.31B | 9.21B | 8.09B | 11.73B |
| Operating Cash Flow | 27.26B | 27.60B | 21.20B | 24.67B | 24.00B | 27.38B |
| Investing Cash Flow | -9.74B | -7.15B | 4.11B | -22.06B | -9.94B | -10.91B |
| Financing Cash Flow | -16.93B | -18.80B | -27.34B | 2.65B | -21.78B | -10.60B |
Telia Company AB Technical Analysis
Positive
43.44
Price Trends
44.35
Positive
46.33
Negative
43.87
Positive
Market Momentum
0.05
Negative
58.60
Neutral
80.43
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TELIA, the sentiment is Positive. The current price of 43.44 is below the 20-day moving average (MA) of 43.88, below the 50-day MA of 44.35, and below the 200-day MA of 43.87, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 58.60 is Neutral, neither overbought nor oversold. The STOCH value of 80.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:TELIA.
Telia Company AB Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | kr117.93B | 11.78 | 42.66% | 4.89% | 1.82% | 142.95% | |
67 Neutral | kr34.58B | 75.99 | 1.99% | ― | -6.20% | ― | |
64 Neutral | kr4.40B | 19.71 | 12.70% | ― | 114.85% | ― | |
61 Neutral | kr171.28B | 35.98 | 9.48% | 4.49% | -4.06% | 14.70% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
49 Neutral | kr2.17B | 61.64 | 2.32% | 0.25% | 0.40% | ― | |
46 Neutral | kr6.20B | -4.35 | -60.23% | 2.87% | 10.33% | -163.10% |
* Communication Services Sector Average
SE:TELIA
Telia Company AB
44.97
10.63
30.94%
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Telia Company AB Corporate Events
Telia Company Delivers Solid Q2 Growth and Confirms 2026 Financial Targets
Jul 17, 2026
Telia Company reported second-quarter revenue of SEK 20.7 billion, with like-for-like service revenue up 2.8%, driven by strong performance in Sweden, Norway and the Baltics. Adjusted EBITDA rose 3.4% on broad-based service revenue growth and lowe...
Telia Company Sets July 17 Date for Q2 2026 Results and Investor Call
Jul 6, 2026
Telia Company has scheduled the release of its second-quarter 2026 financial results for Friday, July 17, at around 07:00 CET. The announcement underscores the group’s regular reporting cadence, which is closely watched by investors for insi...
Telia Company Adds AI-Focused Executive to Board After Extraordinary Meeting
Jul 2, 2026
Telia Company AB has strengthened its board of directors following an extraordinary general meeting held on July 2, 2026, with the election of Susanne Blanke as a new board member. The move underscores Telia’s focus on digital transformation...
Telia, KTH and Brookfield Forge Alliance to Build Sovereign AI in Sweden
Jun 15, 2026
Telia Company AB, a major Nordic and Baltic telecom operator, is joining forces with Stockholm-based KTH Royal Institute of Technology and global asset manager Brookfield to drive sovereign AI development in Sweden. By combining Telia’s secu...
Telia Calls July EGM to Add AI-Focused Board Member
Jun 4, 2026
Telia Company has called an Extraordinary General Meeting for July 2, 2026, at its Solna head office, giving shareholders the option to participate either in person or via postal voting in line with its articles of association. Shareholders must b...
Telia Company Launches Share Buyback to Fund Long-Term Incentive Plan
May 4, 2026
Telia Company’s board has decided to exercise its AGM-approved mandate to repurchase shares in order to meet obligations under its Long Term Incentive Program 2023/2026. The company plans to buy back up to 2,297,938 shares on Nasdaq Stockhol...
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.