Start with its own history
At 15.34×, TELNF is 34.2% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
OTC · TELNFTelecommunications ServicesUpdated Nov 2, 2026
Telenor ASA P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
15.34×
34.2% belowthe 10-year annual average
Share price14.4
÷Earnings per share0.9388
Price and EPS in quote currency. Calculation details
Investors are paying 15.34 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 23.30×
3-year average22.35×3 positive annual observations
5-year average18.71×5 positive annual observations
10-year average23.30×10 positive annual observations
Peer median · TTM15.82×5 peers with positive P/E
Historical P/E ratios
Annual period-end data · 16 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 24.53× | +161.2% |
| Dec 31, 2024 | 9.39× | -71.6% |
| Dec 31, 2023 | 33.13× | +252.6% |
| Dec 31, 2022 | 9.39× | -45.0% |
| Dec 31, 2021 | 17.09× | +29.7% |
| Dec 31, 2020 | 13.18× | -30.6% |
| Dec 31, 2019 | 18.99× | +12.2% |
| Dec 31, 2018 | 16.93× | -23.4% |
View all 16 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 22.10× | -67.6% |
| Dec 31, 2016 | 68.25× | +4.5% |
| Dec 31, 2015 | 65.33× | +160.0% |
| Dec 31, 2014 | 25.12× | -0.3% |
| Dec 31, 2013 | 25.19× | +25.2% |
| Dec 31, 2012 | 20.12× | -8.7% |
| Dec 31, 2011 | 22.04× | +102.1% |
| Dec 31, 2010 | 10.91× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How TELNF compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 TELNF This stockTelenor ASA | 15.34× |
 TELIA.STTelia Company AB (publ) | 36.21× |
 VIVT3.SATelefônica Brasil S.A. | 14.90× |
 TEL2-B.STTele2 AB (publ) | 10.75× |
 TEF.MCTelefónica, S.A. | N/M |
 VOD.JOVodacom Group Limited | 15.82× |
 T.TOTELUS Corporation | N/M |
 TELDFTelefónica Deutschland Holding AG | N/M |
 RCI-B.TORogers Communications Inc. | 26.79× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does TELNF’s P/E tell you?
Compare like with like
The median of the 5 positive peer ratios above is 15.82×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take TELNF into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("TELNF", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 14.4 ÷ EPS 0.9388 = 15.34×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
TELNF P/E ratio: common questions
The essentials behind the numbers.
Telenor ASA's current P/E is 15.34× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.