TELSTRA GROUP LIMITED (TLS)
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TLS

TLS - TELSTRA GROUP LIMITED

FNArena Sector : Telecommunication
Year End: June
GICS Industry Group : Telecommunication Services
Debt/EBITDA: 1.93
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Telstra is Australia's largest telecommunications company which builds and operates telecommunications networks. It provides voice, mobile, internet access, pay TV and related products and services. Formerly government owned, Telstra was privatised in stages with the first tranche of shares listed in 1997.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.95

25 Nov
2025

-0.010

OPEN

$4.97

-0.20%

HIGH

$4.98

17,419,463

LOW

$4.93

TARGET
$4.89 -1.2% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . MAQ . SLC . SPK . TPG . TPG . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
TLS: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 18.9 20.7 xxx
DPS (cps) xxx 19.0 20.2 xxx
EPS Growth xxx 34.2% 10.0% xxx
DPS Growth xxx 5.6% 6.3% xxx
PE Ratio xxx N/A 23.7 xxx
Dividend Yield xxx N/A 4.1% xxx
Div Pay Ratio(%) xxx 100.7% 97.4% xxx

Dividend yield today if purchased 3 years ago: 4.75%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.86

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/08 - ex-div 9c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx18.9
DPS All xxxxxxxxxxxxxxx19.0
Sales/Revenue xxxxxxxxxxxxxxx23,125.0 M
Book Value Per Share xxxxxxxxxxxxxxx122.2
Net Operating Cash Flow xxxxxxxxxxxxxxx6,548.0 M
Net Profit Margin xxxxxxxxxxxxxxx9.39 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx15.07 %
Return on Invested Capital xxxxxxxxxxxxxxx7.94 %
Return on Assets xxxxxxxxxxxxxxx4.80 %
Return on Equity xxxxxxxxxxxxxxx15.07 %
Return on Total Capital xxxxxxxxxxxxxxx11.83 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,036.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx4,816 M
Long Term Debt xxxxxxxxxxxxxxx13,179 M
Total Debt xxxxxxxxxxxxxxx17,995 M
Goodwill - Gross xxxxxxxxxxxxxxx3,347 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,012 M
Price To Book Value xxxxxxxxxxxxxxx3.96

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx3,874.0 M
Capex % of Sales xxxxxxxxxxxxxxx16.75 %
Cost of Goods Sold xxxxxxxxxxxxxxx17,778 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,287 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,084 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.4

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Bell Potter

15/08/2025

3

Hold

$4.75

-4.04%

Telstra Group reported underlying FY25 earnings (EBITDA) of $8,621m, which broadly met Bell Potter's estimate and came in at the mid-point of guidance.

Free cash flow after leases was better than anticipated by 2% and viewed as a bright spot at the upper end of guidance. Final dividend of 9c per share as expected.

Management has updated its guidance to include underlying earnings (EBITDA) after lease amortisation, a metric previously excluded. Guidance was set at $8.15bn–$8.45bn after $600m of lease amortisation, in line with expectations.

Bell Potter has lowered its revenue forecasts by -2% for FY26 and 3% for FY27 due to reductions in mobile estimates and the deconsolidation of Versent. Its EPS forecasts are raised around 2% for FY26/FY27 due to the share buyback.

Hold rating remains. Target rises to $4.75 from $4.65.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 20.00 cents and EPS of 21.00 cents.
Bell Potter forecasts a full year FY27 dividend of 21.00 cents and EPS of 23.40 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

06/11/2025

3

Neutral

$4.80

-3.03%

Jarden believes 2026 will be a pivotal year for Telstra, with around $5bn of federal government agency tenders expiring across the sector.

Telstra has about $3.5bn in total contract value expiring, including major contracts with Services Australia and the Department of Defense, while Optus faces $1.5bn in expiries with the ATO and Department of Home Affairs.

The analyst sees minimal risk to Telstra’s Defense contract but some renewal risk for Optus given recent challenges.

A $160m extension of Telstra’s Services Australia contract into 2026 suggests delays in migration to Optus and provides upside of around $20–25m in EBITDA.

With Optus’ major government contracts due to expire, Telstra could increase its share of total contract value, with potential ATO wins adding roughly $120m in annual revenue and 1.4% near-term EPS upside.

Jarden views Telstra as well positioned to benefit from industry disruption, supported by simplification efforts and stronger capital efficiency, though acknowledges short-term investment risks from regulatory scrutiny. Neutral rated. Target unchanged at $4.80.

FORECAST
Jarden forecasts a full year FY26 dividend of 20.00 cents and EPS of 20.50 cents.
Jarden forecasts a full year FY27 dividend of 21.50 cents and EPS of 22.10 cents.
Access Extra Coverage Research History >

TLS STOCK CHART

FNArena News on TLS

1
Weekly Ratings, Targets, Forecast Changes – 21-11-25

Nov 24 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Nov 20, 2025

Nov 20 2025 - Daily Market Reports
3
Rudi’s View: New Trends & Recurring Anxieties

Nov 12 2025 - Rudi's View
4
Rudi’s View: Amcor, Charter Hall, Challenger, Goodman, Woolworths & More

Nov 06 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Nov 06, 2025

Nov 06 2025 - Daily Market Reports

Latest Telecommunication News

1
Superloop’s Comeback Post FY25 Disappointment

Sep 19 2025 - Australia
2
Re-Rating Aussie Broadband’s Growth Outlook

Sep 04 2025 - Small Caps
3
Buybacks, Dividends Define Telstra’s Future

Aug 18 2025 - Australia
4
Telstra Shares Enjoying Firm Up-Trend

Jul 17 2025 - Technicals
5
In Brief: Austal, Superloop, Motorcycle Holdings & Nanosonics

Jul 04 2025 - Weekly Reports
6
Telstra Targets Sustainable, Growing Dividends

May 30 2025 - Australia
7
In Brief: Superloop, Woolworths & Ampol In Focus

May 16 2025 - Weekly Reports
8
In Brief: Telstra Re-Rating, MinRes & MAC Copper

May 02 2025 - Weekly Reports
9
Treasure Chest: Spark New Zealand

Apr 29 2025 - Treasure Chest
10
Aussie Broadband Unveils Ambitious Plans

Apr 16 2025 - Small Caps