Tele2 AB (SE:TEL2.B)
:TEL2.B
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Tele2 AB
(TEL2.B)
Select Model
Select Model
Rating:66Neutral
Price Target:
kr205.00
▲(7.95% Upside)
Action:DowngradedDate:01/30/26
The score is driven primarily by steady financial performance with solid profitability and cash generation, tempered by elevated leverage, reduced equity, and declining free cash flow. Technicals add support with an uptrend across key moving averages and positive MACD, while valuation is a modest headwind due to the higher P/E despite an attractive dividend yield.
Positive Factors
Profitability margins
Sustained mid-40s gross margin and ~21.6% EBIT margin indicate a structurally profitable telecom operation with healthy unit economics. These margins provide an ongoing buffer to fund investment, pay dividends and absorb competitive pricing pressure over the next several quarters.
Negative Factors
Elevated leverage
Higher debt-to-equity and materially lower equity reduce financial flexibility and increase interest and refinancing risk. If operating results weaken, elevated leverage can constrain capex, acquisitions or dividend policy and amplify downside over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability margins
Sustained mid-40s gross margin and ~21.6% EBIT margin indicate a structurally profitable telecom operation with healthy unit economics. These margins provide an ongoing buffer to fund investment, pay dividends and absorb competitive pricing pressure over the next several quarters.
Read all positive factors
Tele2 AB (TEL2.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr131.93B
Dividend Yield4.15%
Average Volume (3M)1.84M
Price to Earnings (P/E)23.4
Beta (1Y)0.21
Revenue Growth0.51%
EPS Growth14.15%
CountrySE
Employees4,135
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)1.76
Shares Outstanding685,344,200
10 Day Avg. Volume1,358,044
30 Day Avg. Volume1,840,046
Financial Highlights & Ratios
PEG Ratio1.20
Price to Book (P/B)4.81
Price to Sales (P/S)3.58
P/FCF Ratio14.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr191.67Price Target Upside0.93% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)7.83
Revenue Forecast (FY)kr30.24B
Tele2 AB Business Overview & Revenue Model
Company Description
Tele2 AB (publ), a telecom operator, provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia. The company offers mobile telephony and data, fixed broadband, fixed telephony, switch and contact ce...
How the Company Makes Money
Tele2 makes money mainly by selling recurring subscription-based telecommunications services and related connectivity products. Its largest revenue stream is typically service revenue from mobile customers (consumer and enterprise), generated thro...
Tele2 AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 29.89B | 29.58B | 29.10B | 28.10B | 26.79B |
| Gross Profit | 13.00B | 12.73B | 11.81B | 11.22B | 10.92B |
| EBITDA | 12.85B | 11.89B | 11.79B | 11.02B | 10.72B |
| Net Income | 4.59B | 3.87B | 3.73B | 5.57B | 4.31B |
Balance Sheet | |||||
| Total Assets | 62.88B | 64.44B | 66.06B | 67.66B | 74.25B |
| Cash, Cash Equivalents and Short-Term Investments | 305.00M | 191.00M | 1.63B | 1.14B | 837.00M |
| Total Debt | 29.12B | 30.67B | 31.78B | 32.45B | 30.81B |
| Total Liabilities | 40.61B | 42.34B | 43.28B | 43.97B | 43.11B |
| Stockholders Equity | 22.27B | 22.10B | 22.78B | 23.68B | 31.14B |
Cash Flow | |||||
| Free Cash Flow | 7.63B | 5.81B | 5.96B | 4.67B | 6.97B |
| Operating Cash Flow | 11.34B | 9.78B | 10.01B | 8.25B | 10.30B |
| Investing Cash Flow | -3.67B | -4.00B | -3.93B | 5.26B | -3.02B |
| Financing Cash Flow | -7.72B | -7.10B | -5.59B | -13.64B | -7.26B |
Tele2 AB Technical Analysis
Positive
189.90
Price Trends
180.22
Positive
165.10
Positive
157.99
Positive
Market Momentum
2.11
Positive
54.82
Neutral
48.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TEL2.B, the sentiment is Positive. The current price of 189.9 is below the 20-day moving average (MA) of 190.22, above the 50-day MA of 180.22, and above the 200-day MA of 157.99, indicating a neutral trend. The MACD of 2.11 indicates Positive momentum. The RSI at 54.82 is Neutral, neither overbought nor oversold. The STOCH value of 48.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:TEL2.B.
Tele2 AB Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr364.50B | 10.63 | 26.04% | 3.18% | -2.65% | ― | |
67 Neutral | kr6.47B | 34.72 | -1.33% | ― | 77.67% | 68.35% | |
66 Neutral | kr131.93B | 23.36 | 21.35% | 4.15% | 0.51% | 14.15% | |
61 Neutral | kr181.67B | 44.32 | 10.93% | 5.14% | -5.76% | -10.05% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | kr17.87B | 121.04 | 0.88% | ― | -1.62% | 94.01% |
* Communication Services Sector Average
SE:TEL2.B
Tele2 AB
189.90
63.47
50.20%
SE:ERIC.B
Telefonaktiebolaget LM Ericsson Class B
109.40
31.46
40.36%
SE:SINCH
Sinch AB
23.17
1.15
5.22%
SE:TELIA
Telia Company AB
47.40
13.67
40.54%
SE:OVZON
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58.00
30.50
110.91%
Tele2 AB Corporate Events
Tele2 Issues and Repurchases Class C Shares for Executive Incentive Program
Mar 18, 2026
Tele2 AB has issued and immediately repurchased 1.5 million new class C shares at SEK 1.25 per share, in line with its retention and performance-based incentive programs for senior executives and key employees. The C shares, which carry no dividen...
Tele2 and GCI Launch First Pan-Baltic Tower Company in Asset-Light Shift
Feb 27, 2026
Tele2 AB has completed the separation of its telecom infrastructure assets to form Baltic Tower Company UAB with Global Communications Infrastructure, creating the first pan-Baltic tower operator. Based in Lithuania, the new entity will own around...
Tele2 Adjusts Voting Structure After Conversion of Class A Shares
Feb 27, 2026
Tele2 AB has adjusted its share capital structure following the conversion of 5,994 class A shares, each carrying ten votes, into class B shares with one vote each at the request of their owners. After the reclassification, the company’s tot...
Tele2 lifts dividend after 42% cash-flow surge on cost cuts and 5G push
Jan 28, 2026
Tele2 reported solid fourth-quarter and full-year 2025 results, with end-user service revenue up 2% organically for the year and underlying EBITDAaL rising 11%, supported by sharp cost control, contract renegotiations and a workforce reduction of ...
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.