Telekom Srpske a.d (XBLB:TLKM-R-A) Intrinsic Value: DCF (Earnings Based): BAM4.91 (As of Aug. 03, 2026) — 2355% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XBLB:TLKM-R-A Telekom Srpske a.d XBLB:TLKM-R-A
100 GF Score
Price BAM0.97
GF Value BAM1.25
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Telekom Srpske a.d Intrinsic Value: DCF (Earnings Based)?

Telekom Srpske a.d XBLB:TLKM-R-A 100 Intrinsic Value: DCF (Earnings Based) is BAM4.91 as of Aug. 03, 2026, which is 100% below its 10-year median of 0.20. GuruFocus rates XBLB:TLKM-R-A with a GF Score™ of 100/100 and a GF Value™ of BAM1.25 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 62 Telecommunication Services companies, Telekom Srpske a.d ranks better than 95.16% on this metric.

As of today (2026-08-03), Telekom Srpske a.d's intrinsic value calculated from the Discounted Earnings model is BAM4.91.

Note: Discounted Earnings model is only suitable for predictable companies (Business Predictability Rank higher than 1-Star). If the company's predictability rank is 1-Star or Not Rated, result may not be accurate due to the low predictability of business and the data will not be stored into our database.

Telekom Srpske a.d's Predictability Rank is 2.5-Stars.

Margin of Safety (Earnings Based) using Discounted Earnings model for Telekom Srpske a.d is 80.24%.

The historical rank and industry rank for Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) or its related term are showing as below:

XBLB:TLKM-R-A' s Price-to-DCF (Earnings Based) Range Over the Past 10 Years
Min: 0.2   Med: 0.2   Max: 0.2
Current: 0.2

During the past 13 years, the highest Price-to-Intrinsic-Value-DCF (Earnings Based) Ratio of Telekom Srpske a.d was 0.20. The lowest was 0.20. And the median was 0.20.

XBLB:TLKM-R-A's Price-to-DCF (Earnings Based) is ranked better than
95.16% of 62 companies
in the Telecommunication Services industry
Industry Median: 0.835 vs XBLB:TLKM-R-A: 0.20

Telekom Srpske a.d  (XBLB:TLKM-R-A) Intrinsic Value: DCF (Earnings Based) Explanation

Unlike valuation methods such as Net Current Asset Value, Tangible Book Value per Share, Graham Number, Median Ratio etc, discounted Cash Flow model evaluates the companies based on their future earnings power instead of their assets.


Be Aware

What you need to know about Discounted Earnings model:

1. The Discounted Earnings model evaluates a company based on its future earnings power
2. Growth is taken into account; therefore a faster growth company is worth more if everything else is the same.
3. Since we are projecting future growth, it is assumed that the company will grow at the same rate as it did during the past 10 years. Therefore this model works better for the companies that are relatively consistent performers.
4. The Discounted Earnings model works poorly for inconsistent performers like cyclicals.
5. Your expected return from the investment is a reasonable discount rate assumption.
6. A larger margin of safety should be required for companies with less predictable businesses.

You can screen for stocks that trade below their Intrinsic Value: DCF (FCF Based) and Intrinsic Value: DCF (Earnings Based) with the GuruFocus All-in-One Screener. Companies with a high Predictability Rank that trade at a discount to their Intrinsic Value: DCF (FCF Based) and Intrinsic Value: DCF (Earnings Based) can be found in the screen of Undervalued Predictable Companies.


Telekom Srpske a.d Intrinsic Value: DCF (Earnings Based) Related Terms


Telekom Srpske a.d Intrinsic Value: DCF (Earnings Based) Historical Data

* Premium members only.

The historical data trend for Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Telekom Srpske a.d Intrinsic Value: DCF (Earnings Based) Chart

Telekom Srpske a.d Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Intrinsic Value: DCF (Earnings Based)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 4.91

Telekom Srpske a.d Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Intrinsic Value: DCF (Earnings Based) Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 4.91

XBLB:TLKM-R-A vs VZ, TMUS, T: Intrinsic Value: DCF (Earnings Based) Comparison

For the Telecom Services subindustry, Telekom Srpske a.d's Price-to-DCF (Earnings Based), along with its competitors' market caps and Price-to-DCF (Earnings Based) data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Telekom Srpske a.d Price-to-DCF (Earnings Based) vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telekom Srpske a.d's Price-to-DCF (Earnings Based) distribution charts can be found below:

* The bar in red indicates where Telekom Srpske a.d's Price-to-DCF (Earnings Based) falls into.


XBLB:TLKM-R-A
100GF Score
Telekom Srpske a.d XBLB:TLKM-R-A
Intrinsic Value: DCF (Earnings Based) is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telekom Srpske a.d Intrinsic Value: DCF (Earnings Based) Calculation

This is the intrinsic value calculated from the Discounted Earnings model with default parameters. The calculation method is the same as Discounted Cash Flow model except earnings are used in the calculation instead of free cash flow. This is the default method of calculation with GuruFocus DCF calculator.

Usually a two-stage model is used in calculating the intrinsic value with discounted cash flow model. The first stage is called growth stage; the second is called the terminal stage. In the growth stage the company grows at a faster rate. Because it cannot grow at that rate forever, a lower rate is used for the terminal stage.

GuruFocus DCF calculator is a two-stage model. The default values are defined as:

1. Discount Rate: d = 11%
A reasonable discount rate assumption should be at least the long term average return of the stock market, which can be estimated from risk free rate plus risk premium of stock market. GuruFocus uses 10-Year Treasury Constant Maturity Rate as the risk-free rate and rounded up to the nearest integer. It is updated daily. The current risk-free rate is 4.68%. Please go to Economic Indicators page for more information. Please note that we use the 10-Year Treasury Constant Maturity Rate of the country/region where the company is headquartered. If the data for that country/region is not available, then we will use the 10-Year Treasury Constant Maturity Rate of the United States as default. Then we added a risk premium of 6% to get the estimated discount rate. Some investors use their expected rate of return, which is also reasonable. A typical discount rate can be anywhere between 6% - 20%.

2. Growth Rate in the growth stage: g1 = 9.50%
The Growth Rate in the growth stage is initially set as the default 10-Year EPS without NRI Growth Rate. In cases where the 10-year growth rate is unavailable, it defaults to using the 5-Year EPS without NRI Growth Rate. If both the 10-year and 5-year growth rates are unavailable, the system defaults to the 3-Year EPS without NRI Growth Rate.
However, it's important to note that there is a growth rate range. If the calculated growth rate exceeds 20%, it will be capped at 20%. Conversely, if the calculated growth rate falls below 5%, it will be adjusted to 5% to maintain a reasonable range.
=> Telekom Srpske a.d's average EPS without NRI Growth Rate in the past 10 years was 9.50%, which is between 5% and 20%. => GuruFocus defaults => Growth Rate: 9.50%

3. Years of Growth Stage: y1 = 10

4. Terminal Growth Rate: g2 = 4%

5. Years of Terminal Growth: y2 = 10

6. EPS without NRI: eps without nri = BAM0.317.
GuruFocus DCF calculator is actually a Discounted Earnings calculator, EPS without NRI is used as the default. The reason we are doing this is we found that historically stock prices are more correlated with earnings than free cash flow.

All of the default settings can be changed and the results are calculated automatically.

Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) for today is calculated as:

Intrinsic Value: DCF (Earnings Based)=EPS without NRI*{[(1+g1)/(1+d)+(1+g1)^2/(1+d)^2+...+(1+g1)^10/(1+d)^10]
+(1+g1)^10/(1+d)^10*[(1+g2)/(1+d)+(1+g2)^2/(1+d)^2+...+(1+g2)^10/(1+d)^10]}

set x = (1+g1)/(1+d) = (1+0.095)/(1+0.11) = 0.98648648648649
and y = (1+g2)/(1+d) = (1+0.04)/(1+0.11) = 0.93693693693694

Intrinsic Value: DCF (Earnings Based)=EPS without NRI*{[x+x^2+...+x^10]+x^10*[y+y^2+...+y^10]}
=EPS without NRI*[x*(1-x^10)/(1-x)+x^10*y*(1-y^10)/(1-y)]
=0.317*15.4932
=4.91

Margin of Safety % (DCF Earnings Based)=(Intrinsic Value: DCF (Earnings Based)-Current Price)/Intrinsic Value: DCF (Earnings Based)
=(4.91-0.97)/4.91
=80.24 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Intrinsic Value: DCF (Earnings Based) of BAM4.91 mean?
Telekom Srpske a.d (XBLB:TLKM-R-A) has a Intrinsic Value: DCF (Earnings Based) of BAM4.91 as of Aug. 03, 2026. Intrinsic Value: DCF (Earnings Based) is the stock value based on a two-stage discounted earnings model. View historical data on Telekom Srpske a.d and its competitors. This is 2355% above median its historical median of 0.20. Over the past decade, Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) has ranged from 0.20 to 0.20. According to the industry distribution chart, Telekom Srpske a.d ranks #3 out of 62 companies in the Telecommunication Services industry, placing it in the top 4.8%.
Is Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) too high?
Telekom Srpske a.d's current Intrinsic Value: DCF (Earnings Based) of BAM4.91 is 2355% above median its 10-year median of 0.20. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 0.20. Based on the distribution chart, Telekom Srpske a.d ranks #3 out of 62 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Telekom Srpske a.d has a GF Score™ of 100/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Telekom Srpske a.d's Intrinsic Value: DCF (Earnings Based) compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Telekom Srpske a.d ranks #3 out of 62 companies for Intrinsic Value: DCF (Earnings Based). This places Telekom Srpske a.d in the top 5% of its industry — outperforming the majority of peers. The industry median Intrinsic Value: DCF (Earnings Based) is 0.84. Historically, Telekom Srpske a.d's own Intrinsic Value: DCF (Earnings Based) has ranged from 0.20 to 0.20 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: DCF (Earnings Based) for a Telecommunication Services company?
The median Intrinsic Value: DCF (Earnings Based) among Telecommunication Services companies is 0.84, based on 62 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: DCF (Earnings Based) significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: DCF (Earnings Based) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: DCF (Earnings Based) mean?
A high Intrinsic Value: DCF (Earnings Based) can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: DCF (Earnings Based) is the stock value based on a two-stage discounted earnings model. View historical data on Telekom Srpske a.d and its competitors. For the Telecommunication Services industry, the median Intrinsic Value: DCF (Earnings Based) is 0.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telekom Srpske a.d's current Intrinsic Value: DCF (Earnings Based) is BAM4.91, which is 2355% above median its own 10-year median of 0.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telekom Srpske a.d stock overvalued right now?
Based on GuruFocus' analysis, Telekom Srpske a.d (XBLB:TLKM-R-A) is currently considered Modestly Undervalued. The stock's GF Value™ is BAM1.25, compared to a current price of BAM0.97 — trading 22.4% below its estimated fair value. The current Intrinsic Value: DCF (Earnings Based) is BAM4.91, which is 2355% above median its 10-year median of 0.20. Telekom Srpske a.d's overall GF Score™ is 100/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: DCF (Earnings Based) calculated?
Intrinsic Value: DCF (Earnings Based) is calculated from a company's financial statements. For Telekom Srpske a.d (XBLB:TLKM-R-A), the current Intrinsic Value: DCF (Earnings Based) is BAM4.91 as of Aug. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Telekom Srpske a.d (XBLB:TLKM-R-A) Overvalued in 2026?

Based on GuruFocus' analysis, Telekom Srpske a.d stock appears to be undervalued. The current stock price of BAM0.97 is trading 22.4% below its estimated GF Value™ of BAM1.25. GuruFocus considers Telekom Srpske a.d to be Modestly Undervalued.

Key valuation signals for XBLB:TLKM-R-A:

  • Intrinsic Value: DCF (Earnings Based): BAM4.91 (2355% above median its 10-year median of 0.20)
  • GF Value™: BAM1.25 vs. price of BAM0.97 (22.4% below fair value)
  • GF Score™: 100/100 with 6 warning signs

No single metric tells the full story. See the XBLB:TLKM-R-A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Telekom Srpske a.d Business Description

Address 93, Kralja Petra I, Karadordevica, Banja Luka, BIH, 78000
Telekom Srpske a.d is a telecommunications company. It offers telecommunication services in the field of mobile telephony, fixed telephony, digital television, the Internet and data transfer. In addition to its core business, the company also offers a wide range of other telecommunication services, including other fixed telephone services, data transfer, lease lines, as well as additional services in the field of mobile telephony, internet and multimedia services. The company also provides services in the field of leasing, construction, management and protection of telecommunication infrastructure.
100GF Score

Get the complete analysis for XBLB:TLKM-R-A

Intrinsic Value: DCF (Earnings Based) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

BAM0.97
Price
BAM1.25
GF Value