Loading…
Nordic and Baltic telecom operator providing mobile, broadband and TV services across Sweden, Finland and neighboring markets.
Nordic and Baltic telecom operator providing mobile, broadband and TV services across Sweden, Finland and neighboring markets.
Charges monthly fees for mobile, broadband and TV subscriptions, with Sweden and Finland the two largest home markets; the Swedish state is the largest shareholder. Since 2017 it has sold its Eurasian businesses to concentrate on the Nordics and Baltics.
Moat: narrow (installed base, regulatory licence, scale). Incumbent network/spectrum position across the Nordics and Baltics, in a rational regional telecom market.
Headquarters: Stockholm, Sweden · Founded: 1853 · Employees: 14,498
Size Telia (TELIA.ST) is a Sweden Communication Services company (Specialty Telecommunications) with a market value of $19.2B, the 18th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 49.10 on 6 Nov 2026.
Performance Over six months the shares gained 0.3%, against -16.9% for the median peer and +8.2% for the Sweden market (cap-weighted) — 4th highest of 9 in its peer set.
Growth Revenue fell 0.1% over the last twelve months (peer median +2.6%); the operating margin is 18.2% (peer median 7.6%).
Valuation It trades at 21.1× forward earnings against a peer median of 22.4× (4th cheapest of 7).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.4 points above its cost of capital (5.0% WACC).
Credit Telia has 15 bonds outstanding ($5.38B), rated BBB+ by the agencies and trading like A+ at a weighted spread of 89 bp.
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 83.3B | SEK 81.0B | SEK 81.0B | SEK 88.6B | SEK 85.6B |
| Revenue growth | — | 0% | -9% | +3% | — |
| Gross profit | SEK 15.2B | SEK 19.7B | SEK 21.0B | SEK 20.8B | SEK 21.7B |
| EBITDA | SEK 32.6B | SEK 32.0B | SEK 30.9B | SEK 36.0B | SEK 34.6B |
| Net income | SEK 5.29B | SEK 3.49B | SEK 3.82B | SEK 303M | -SEK 14.6B |
| Free cash flow | SEK 13.9B | SEK 12.6B | SEK 7.31B | SEK 9.21B | SEK 8.09B |
| Capital expenditure | SEK 13.8B | SEK 15.0B | SEK 13.9B | SEK 15.5B | SEK 15.9B |
| Total debt | SEK 90.8B | SEK 87.5B | SEK 97.9B | SEK 113B | SEK 113B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Telia TELIA.ST | $19.2B | 0% | 0% | 18% | 21.1× | -1.1% |
| Tele2 TEL2-A.ST | $11.2B | -14% | +2% | 24% | 10.7× | -2.4% |
| Telenor TEL.OL | $19.8B | -14% | -7% | 24% | 13.5× | -7.7% |
| Elisa ELISA.HE | $6.11B | -17% | 0% | 20% | 14.3× | -2.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TELIA.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.9% | +1.2% | 2nd highest of 9 |
| 6-month return | +0.3% | -16.9% | 4th highest of 9 |
| Distance from 52-week high | -5.0% | -26.2% | highest of 9 |
| Revenue growth (TTM) | -0.1% | +2.6% | 4th lowest of 9 |
| Operating margin | 18.2% | 7.6% | 3rd highest of 9 |
| Forward P/E | 21.1× | 22.4× | 4th cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | -1.1% | 11.7% | least demanding of 6 |
| Growth delivered (Del g) | -1.9% | +1.8% | 2nd lowest of 6 |
| Hurdle (Req g minus delivered) | +0.8 pp | +10.8 pp | 3rd least demanding of 6 |
| ROIC minus cost of capital | +3.4 pp | -3.0 pp | highest of 9 |
| EV / EBITDA | 8.3× | 8.8× | 3rd cheapest of 6 |
| Net debt / EBITDA | 2.5× | 1.6× | 3rd most indebted of 6 |
| Bond spread | 89 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Telia TELIA.ST | Sweden | $19.2B | 0% | 0% | 18% | 21.1× | -1.1% | -1.9% |
| China Tower 0788.HK | Hong Kong | $20.2B | -18% | +4% | 20% | 9.7× | -1.0% | +3.6% |
| Telefonica TEF.MC | Spain | $21.4B | -16% | -11% | 5% | 10.8× | 11.7% | -4.0% |
| China Satellite Communications 601698.SS | China | $13.9B | -40% | -2% | 10% | n/a | 40.0% | -0.3% |
| EchoStar ECHO | United States | $27.5B | -26% | -20% | 11% | 25.5× | n/a | n/a |
| AST SpaceMobile ASTS | United States | $12.6B | -57% | +2,257% | -410% | n/a | n/a | n/a |
| Infrastrutture Wireless Italiane INW.MI | Italy | $7.39B | +1% | +1% | 53% | 19.4× | 8.2% | +10.2% |
| ASR Microelectronics 688220.SS | China | $6.56B | +6% | +28% | 1% | 170.1× | n/a | n/a |
| 1&1 1U1.DE | Germany | $5.79B | +7% | +8% | 3% | 34.4× | 12.5% | +1.8% |
Telia has 15 bonds outstanding with $5.38B face value. The agencies rate it BBB+; its bonds trade like A+. Weighted yield 4.12%, a spread of 89 bp over government bonds.