Telenor ASATELNF 71 Return-on-Tangible-Equity is 88.54% as of Mar. 2026, which is 70% above its 10-year median of 52.09. GuruFocus rates TELNF with a GF Score™ of 71/100 and a GF Value™ of $13.17 (Fairly Valued). The stock has 5 warning signs investors should review. Among 326 Telecommunication Services companies, Telenor ASA ranks better than 69.63% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Telenor ASA's annualized net income for the quarter that ended in Mar. 2026 was $3,398 Mil. Telenor ASA's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $3,838 Mil. Therefore, Telenor ASA's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 88.54%.
The historical rank and industry rank for Telenor ASA's Return-on-Tangible-Equity or its related term are showing as below:
TELNF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 18.94 Med: 52.09 Max: 763.89
Current: 40.77
During the past 13 years, Telenor ASA's highest Return-on-Tangible-Equity was 763.89%. The lowest was 18.94%. And the median was 52.09%.
TELNF's Return-on-Tangible-Equity is ranked better than 69.63% of 326
companies
in the Telecommunication Services industry
Industry Median: 14.005
vs TELNF: 40.77
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Telenor ASA Return-on-Tangible-Equity Related Terms
Telenor ASA Return-on-Tangible-Equity Historical Data
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The historical data trend for Telenor ASA's Return-on-Tangible-Equity 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.
TELNF vs TMUS, VZ, T: Return-on-Tangible-Equity Comparison
For the Telecom Services subindustry, Telenor ASA's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Telenor ASA Return-on-Tangible-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Telenor ASA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Telenor ASA's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 88.54% mean?
Telenor ASA (TELNF) has a Return-on-Tangible-Equity of 88.54% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Telenor ASA and its competitors. This is 70% above median its historical median of 52.09. Over the past decade, Telenor ASA's Return-on-Tangible-Equity has ranged from 18.94 to 763.89. According to the industry distribution chart, Telenor ASA ranks #99 out of 326 companies in the Telecommunication Services industry, placing it in the top 30.4%.
Is Telenor ASA's Return-on-Tangible-Equity too high?
Telenor ASA's current Return-on-Tangible-Equity of 88.54% is 70% above median its 10-year median of 52.09. Over the past 10 years, this metric has ranged from a low of 18.94 to a high of 763.89. The Telecommunication Services industry median Return-on-Tangible-Equity is 14.01. Telenor ASA's value of 88.54% is 532.2% above this industry median. Based on the distribution chart, Telenor ASA ranks #99 out of 326 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Telenor ASA has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Telenor ASA's Return-on-Tangible-Equity compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Telenor ASA ranks #99 out of 326 companies for Return-on-Tangible-Equity. This puts Telenor ASA in the upper half of its industry. The industry median Return-on-Tangible-Equity is 14.01. Telenor ASA's value of 88.54% is 532.2% above this benchmark. Historically, Telenor ASA's own Return-on-Tangible-Equity has ranged from 18.94 to 763.89 over the past decade. While the company's 10-year median is 52.09 vs. the industry median of 14.01, Telenor ASA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Telecommunication Services company?
The median Return-on-Tangible-Equity among Telecommunication Services companies is 14.01, based on 326 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Telenor ASA's current Return-on-Tangible-Equity of 88.54% is 532.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Telenor ASA and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Equity is 14.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telenor ASA's current Return-on-Tangible-Equity is 88.54%, which is 70% above median its own 10-year median of 52.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telenor ASA stock overvalued right now?
Based on GuruFocus' analysis, Telenor ASA (TELNF) is currently considered Fairly Valued. The stock's GF Value™ is $13.17, compared to a current price of $14.12 — trading 7.2% above its estimated fair value. The current Return-on-Tangible-Equity is 88.54%, which is 70% above median its 10-year median of 52.09 and 532.2% above the Telecommunication Services industry median of 14.01. Telenor ASA's overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Telenor ASA (TELNF), the current Return-on-Tangible-Equity is 88.54% as of Mar. 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 Telenor ASA (TELNF) Overvalued in 2026?
Based on GuruFocus' analysis, Telenor ASA stock appears to be overvalued.
The current stock price of $14.12 is trading 7.2% above its estimated GF Value™ of $13.17.
GuruFocus considers Telenor ASA to be Fairly Valued.
Key valuation signals for TELNF:
Return-on-Tangible-Equity: 88.54% (70% above median its 10-year median of 52.09)
GF Value™: $13.17 vs. price of $14.12 (7.2% above fair value)
Industry Position: 532.2% above the Telecommunication Services median (#99 of 326)
No single metric tells the full story. See the TELNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
71GF Score
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