TELNF (Telenor ASA) ROCE %: 23.61% (As of Mar. 2026)


TELNF Telenor ASA TELNF
58 GF Score
Price $16.11
GF Value $14.41
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Telenor ASA ROCE %?

Telenor ASA TELNF 58 ROCE % is 23.61% as of Mar. 2026. GuruFocus rates TELNF with a GF Score™ of 58/100 and a GF Value™ of $14.41 (Modestly Overvalued). The stock has 5 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Telenor ASA's annualized ROCE % for the quarter that ended in Mar. 2026 was 23.61%.

Telenor ASA  (OTCPK:TELNF) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Telenor ASA ROCE % Related Terms

Telenor ASA ROCE % Historical Data

* Premium members only.

The historical data trend for Telenor ASA's ROCE % 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.

Telenor ASA ROCE % Chart

Telenor ASA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.86 6.12 2.43 14.94 11.77

Telenor ASA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 10.00 14.65 14.11 9.70 23.61
TELNF
58GF Score
Telenor ASA TELNF
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telenor ASA ROCE % Calculation

Telenor ASA's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=1977.758/( ( (20392.143 - 4133.899) + (21930.661 - 4579.545) )/ 2 )
=1977.758/( (16258.244+17351.116)/ 2 )
=1977.758/16804.68
=11.77 %

Telenor ASA's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=4205.58/( ( (21930.661 - 4579.545) + (22941.42 - 4660.51) )/ 2 )
=4205.58/( ( 17351.116 + 18280.91 )/ 2 )
=4205.58/17816.013
=23.61 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 23.61% mean?
Telenor ASA (TELNF) has a ROCE % of 23.61% as of Mar. 2026.
Is Telenor ASA's ROCE % too high?
Telenor ASA's current ROCE % is 23.61%. The Telecommunication Services industry median ROCE % is 7.72. Telenor ASA's value of 23.61% is 205.8% above this industry median. Overall, Telenor ASA has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Telenor ASA's ROCE % compare to TMUS and VZ?
Telenor ASA's ROCE % of 23.61% can be compared against companies in the Telecommunication Services industry. The industry median ROCE % is 7.72. Telenor ASA's value of 23.61% is 205.8% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Telecommunication Services company?
The median ROCE % among Telecommunication Services companies is 7.72, based on 356 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Telenor ASA's current ROCE % of 23.61% is 205.8% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Telecommunication Services industry, the median ROCE % is 7.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telenor ASA's current ROCE % is 23.61%. 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 Modestly Overvalued. The stock's GF Value™ is $14.41, compared to a current price of $16.11 — trading 11.8% above its estimated fair value. The current ROCE % is 23.61% and 205.8% above the Telecommunication Services industry median of 7.72. Telenor ASA's overall GF Score™ is 58/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Telenor ASA (TELNF), the current ROCE % is 23.61% 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 $16.11 is trading 11.8% above its estimated GF Value™ of $14.41. GuruFocus considers Telenor ASA to be Modestly Overvalued.

Key valuation signals for TELNF:

  • ROCE %: 23.61%
  • GF Value™: $14.41 vs. price of $16.11 (11.8% above fair value)
  • GF Score™: 58/100 with 5 warning signs
  • Industry Position: 205.8% above the Telecommunication Services median

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 ASA Business Description

Address Snaroyveien 30, Fornebu, NOR, N-1360
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.
58GF Score

Get the complete analysis for TELNF

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$16.11
Price
$14.41
GF Value