Want to see SE:TELIA full AI Analyst Report?
Top Page
Telia Company AB
(TELIA)
Select Model
Select Model
Rating:66Neutral
Price Target:
kr52.00
▲(19.71% Upside)
Action:Reiterated
Date:10/23/26
The score is driven primarily by moderately positive financial quality (profitability recovery and improving free cash flow, tempered by high leverage) and supportive technicals (price above major moving averages with positive momentum). Valuation is a drag due to a high P/E despite a solid dividend yield, while the earnings call adds a modest positive bias from upgraded guidance offset by competitive and near-term execution/regulatory risks.
Positive Factors
Customer convergence and retention
Telia’s bundled mobile, broadband and TV relationships create stronger customer retention and higher household revenue. The reported churn reduction from additional services supports a durable cross-selling advantage, while growing convergence can improve revenue quality and customer lifetime value over the coming quarters.
Negative Factors
Elevated leverage limits flexibility
Telia’s leverage remains high for a capital-intensive telecommunications business, limiting financial flexibility when investment needs or market conditions change. Debt service and refinancing sensitivity can constrain capital allocation, reduce resilience during weaker trading, and make balance-sheet improvement an ongoing requirement.
Read all positive and negative factors
Positive Factors
Negative Factors
Customer convergence and retention
Telia’s bundled mobile, broadband and TV relationships create stronger customer retention and higher household revenue. The reported churn reduction from additional services supports a durable cross-selling advantage, while growing convergence can improve revenue quality and customer lifetime value over the coming quarters.
Read all positive factors
Telia Company AB (TELIA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr189.22B
Dividend Yield4.11%
Average Volume (3M)6.80M
Price to Earnings (P/E)36.6
Beta (1Y)0.09
Revenue Growth-0.15%
EPS Growth23.71%
CountrySE
Employees14,494
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)1.35
Shares Outstanding3,932,109,400
10 Day Avg. Volume7,586,929
30 Day Avg. Volume6,800,358
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
kr49.00Price Target Upside12.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.33
Revenue Forecast (FY)kr84.11B
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 recurring subscription and usage-based telecommunications services. Key revenue streams include: (1) Mobile services: monthly postpaid subscriptions, prepaid/top-up offerings, and mobile data and voice plans ...
Telia Company AB Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was broadly positive. Telia reported accelerating service revenue, EBITDA growth, strong free cash flow, lower operating expenses, improved leverage, healthy customer trends and upgraded EBITDA and free cash flow guidance. The company also highlighted operational improvements in Norway and continued growth in Lithuania and Estonia. Offsetting challenges included difficult mobile competition in Finland, lower Swedish broadband ARPU, expected Q4 revenue moderation, a slight Lithuanian broadband customer decline, near-term costs and regulatory uncertainty related to Norwegian network sharing, and planned workforce reductions.Positive Updates
Accelerating Service Revenue and EBITDA Growth
Group service revenue growth accelerated to 3.3% in Q3 from 2.8% in Q2, while EBITDA increased 2.9%. EBITDA growth was stronger than anticipated, mainly due to lower costs, and year-to-date EBITDA growth reached 3.5%.
Negative Updates
Expected Q4 Service Revenue Growth Moderation
Telia expects lower service revenue growth in Q4 compared with the year-to-date growth rate of 2.8% because some non-connectivity-related deliveries originally expected in Q4 were delivered in Q3 and because of tough Q4 comparisons. The full-year service revenue outlook remains around 2%.
Read all updates
Q3-2026 Updates
Positive
Negative
Accelerating Service Revenue and EBITDA Growth
Group service revenue growth accelerated to 3.3% in Q3 from 2.8% in Q2, while EBITDA increased 2.9%. EBITDA growth was stronger than anticipated, mainly due to lower costs, and year-to-date EBITDA growth reached 3.5%.
Read all positive updates
Company Guidance
Management kept full year service revenue growth guidance unchanged at around 2%, expects lower service revenue growth in Q4 compared to year-to-date growth of 2.8%, and upgraded full year EBITDA growth guidance from around 3% to between 3% and 4%; CapEx outlook remains less than SEK 13 billion, while free cash flow outlook was nudged up to at least SEK 9 billion. They expect EBITDA growth to reaccelerate in Q4 and Sweden growth to reaccelerate in Q4. Norway RAN-sharing operations are planned to start at the beginning of 2027, with traffic migration expected to be completed before the end of that year and network build-out continuing through 2030; annual benefits to Telia are currently estimated at around NOK 300 million to NOK 400 million from 2029 onwards, with the impact negative in '27 and to a small extent in '28. Subject to union negotiations, Telia intends to reduce approximately 900 positions, targeting approximately SEK 1 billion of annual gross savings, with actions expected to have a positive impact on free cash flow in 2027 and reach the full run rate benefit from 2028; midterm ambitions include free cash flow of more than SEK 10 billion in 2027.Telia Company AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
52
Neutral
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.28B | 80.98B | 89.13B | 88.78B | 90.83B | 88.34B |
| Gross Profit | 10.94B | 19.72B | 55.65B | 40.22B | 30.88B | 30.03B |
| EBITDA | 27.97B | 32.00B | 35.67B | 31.38B | 14.02B | 34.24B |
| Net Income | 5.29B | 3.49B | 7.08B | 303.00M | -14.16B | 11.68B |
Balance Sheet | ||||||
| Total Assets | 201.70B | 189.25B | 204.27B | 232.00B | 222.79B | 237.40B |
| Cash, Cash Equivalents and Short-Term Investments | 11.03B | 11.89B | 10.93B | 18.75B | 9.18B | 20.45B |
| Total Debt | 90.85B | 101.77B | 94.38B | 112.57B | 94.08B | 40.58B |
| Total Liabilities | 141.78B | 134.43B | 144.91B | 175.00B | 154.86B | 153.48B |
| Stockholders Equity | 55.96B | 51.07B | 55.44B | 53.47B | 64.24B | 80.73B |
Cash Flow | ||||||
| Free Cash Flow | 13.91B | 12.62B | 7.31B | 9.21B | 8.09B | 11.73B |
| Operating Cash Flow | 27.73B | 27.60B | 21.20B | 24.67B | 24.00B | 27.38B |
| Investing Cash Flow | -15.32B | -7.15B | 4.11B | -22.06B | -4.46B | -3.05B |
| Financing Cash Flow | -17.18B | -18.80B | -27.34B | 2.65B | -27.25B | -18.46B |
Telia Company AB Technical Analysis
Positive
43.44
Price Trends
44.96
Positive
44.92
Positive
45.07
Positive
Market Momentum
1.10
Negative
71.93
Negative
86.25
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 45.56, below the 50-day MA of 44.96, and below the 200-day MA of 45.07, indicating a bullish trend. The MACD of 1.10 indicates Negative momentum. The RSI at 71.93 is Negative, neither overbought nor oversold. The STOCH value of 86.25 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 | kr110.89B | 10.81 | 41.74% | 6.58% | 2.18% | 135.71% | |
66 Neutral | kr189.22B | 36.57 | 10.00% | 4.11% | -0.15% | 23.71% | |
64 Neutral | kr31.35B | 71.41 | 1.99% | ― | -6.20% | ― | |
63 Neutral | kr4.37B | 17.65 | 13.33% | ― | 77.35% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
55 Neutral | kr2.62B | 26.36 | 5.85% | 0.25% | 0.40% | ― | |
43 Neutral | kr5.53B | -4.18 | -63.55% | 2.87% | 19.83% | -144.94% |
* Communication Services Sector Average
SE:TELIA
Telia Company AB
49.37
13.71
38.43%
SE:TEL2.B
Tele2 AB
159.60
18.25
12.91%
SE:SINCH
Sinch AB
43.42
8.85
25.60%
SE:VPLAY.B
Viaplay
1.22
0.22
21.58%
SE:ELTEL
Eltel AB
16.70
7.76
86.80%
SE:OVZON
Ovzon AB
39.18
6.63
20.37%
Telia Company AB Corporate Events
Telia Targets SEK 1 Billion Savings in Major Localization Push
Oct 12, 2026
Telia Company AB has announced a significant restructuring aimed at further localizing its operations and strengthening its country units, while preserving centralized expertise in areas with clear scale benefits such as security and TV services. ...
Telia Company Sets Date for Q3 2026 Results and Investor Call
Oct 9, 2026
Telia Company AB has scheduled the publication of its third-quarter 2026 financial results for October 22, 2026 at around 07:00 CET. The release will be followed by a results presentation and conference call at 09:00 CET, led by President and CEO ...
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.