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Telenor Valuation Multiples
Discover revenue and EBITDA valuation multiples for Telenor and similar public comparables like BCE, Telefónica, Telefônica Brasil, Bouygues and more.
Telenor Overview
About Telenor
Telenor is an international provider of telecommunications services. It is the incumbent dominant telecom operator in Norway, and the Norwegian government holds a stake of more than 50% in the firm. Telenor also operates in other Nordic countries like Sweden, Denmark, and Finland, and owns several businesses in Asia. Most of Telenor's operations are mobile businesses, although it also has some fixed-line operations in Nordic European countries.
Founded
1855
HQ
Employees
11.3K
Website
Sectors
Financials (LTM)
EV
$26B
Telenor Financials
Telenor reported last 12-month revenue of $8B and EBITDA of $4B.
In the same LTM period, Telenor generated $6B in gross profit, $4B in EBITDA, and $943M in net income.
Revenue (LTM)
Telenor P&L
In the most recent fiscal year, Telenor reported revenue of $8B and EBITDA of $4B.
Telenor expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $8B | XXX | $8B | XXX | XXX | XXX |
| Gross Profit | $6B | XXX | $6B | XXX | XXX | XXX |
| Gross Margin | 77% | XXX | 78% | XXX | XXX | XXX |
| EBITDA | $4B | XXX | $4B | XXX | XXX | XXX |
| EBITDA Margin | 46% | XXX | 49% | XXX | XXX | XXX |
| EBIT Margin | 24% | XXX | 24% | XXX | XXX | XXX |
| Net Profit | $943M | XXX | $854M | XXX | XXX | XXX |
| Net Margin | 12% | XXX | 11% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Telenor Stock Performance
Telenor has current market cap of $25B, and enterprise value of $26B.
Market Cap Evolution
Telenor's stock price is $18.25.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $26B | $25B | 0.0% | XXX | XXX | XXX | $0.62 |
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Start Free TrialTelenor Valuation Multiples
Telenor trades at 3.3x EV/Revenue multiple, and 7.2x EV/EBITDA.
EV / Revenue (LTM)
Telenor Financial Valuation Multiples
As of March 10, 2026, Telenor has market cap of $25B and EV of $26B.
Equity research analysts estimate Telenor's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Telenor has a P/E ratio of 26.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $25B | XXX | $25B | XXX | XXX | XXX |
| EV (current) | $26B | XXX | $26B | XXX | XXX | XXX |
| EV/Revenue | 3.3x | XXX | 3.3x | XXX | XXX | XXX |
| EV/EBITDA | 7.2x | XXX | 6.7x | XXX | XXX | XXX |
| EV/EBIT | 13.7x | XXX | 13.8x | XXX | XXX | XXX |
| EV/Gross Profit | 4.2x | XXX | 4.2x | XXX | XXX | XXX |
| P/E | 26.5x | XXX | 29.2x | XXX | XXX | XXX |
| EV/FCF | 14.5x | XXX | 12.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Telenor Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Telenor Margins & Growth Rates
Telenor's revenue in the last 12 month grew by 2%.
Telenor's revenue per employee in the last FY averaged $0.7M.
Telenor's rule of 40 is 47% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Telenor's rule of X is 50% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Telenor Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Margin | 46% | XXX | 49% | XXX | XXX | XXX |
| EBITDA Growth | 3% | XXX | (5%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 47% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 50% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 54% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Telenor Public Comps
See public comps and valuation multiples for other Telecom Service Providers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| BCE | XXX | XXX | XXX | XXX | XXX | XXX |
| Telefónica | XXX | XXX | XXX | XXX | XXX | XXX |
| Telefônica Brasil | XXX | XXX | XXX | XXX | XXX | XXX |
| Bouygues | XXX | XXX | XXX | XXX | XXX | XXX |
| MTN Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Telenor M&A Activity
Telenor acquired XXX companies to date.
Last acquisition by Telenor was on XXXXXXXX, XXXXX. Telenor acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Telenor
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTelenor Investment Activity
Telenor invested in XXX companies to date.
Telenor made its latest investment on XXXXXXXX, XXXXX. Telenor invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Telenor
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Telenor
| When was Telenor founded? | Telenor was founded in 1855. |
| Where is Telenor headquartered? | Telenor is headquartered in Norway. |
| How many employees does Telenor have? | As of today, Telenor has over 11K employees. |
| Is Telenor publicly listed? | Yes, Telenor is a public company listed on Oslo Børs. |
| What is the stock symbol of Telenor? | Telenor trades under TEL ticker. |
| When did Telenor go public? | Telenor went public in 2000. |
| Who are competitors of Telenor? | Telenor main competitors are BCE, Telefónica, Telefônica Brasil, Bouygues. |
| What is the current market cap of Telenor? | Telenor's current market cap is $25B. |
| What is the current revenue of Telenor? | Telenor's last 12 months revenue is $8B. |
| What is the current revenue growth of Telenor? | Telenor revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Telenor? | Current revenue multiple of Telenor is 3.3x. |
| Is Telenor profitable? | Yes, Telenor is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Telenor? | Telenor's last 12 months EBITDA is $4B. |
| What is Telenor's EBITDA margin? | Telenor's last 12 months EBITDA margin is 46%. |
| What is the current EV/EBITDA multiple of Telenor? | Current EBITDA multiple of Telenor is 7.2x. |
| What is the current FCF of Telenor? | Telenor's last 12 months FCF is $2B. |
| What is Telenor's FCF margin? | Telenor's last 12 months FCF margin is 23%. |
| What is the current EV/FCF multiple of Telenor? | Current FCF multiple of Telenor is 14.5x. |
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