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

$4.81

14 Jan
2026

-0.010

OPEN

$4.82

-0.21%

HIGH

$4.85

19,394,347

LOW

$4.81

TARGET
$4.907 2.0% upside
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 20.3 xxx
DPS (cps) xxx 19.0 20.0 xxx
EPS Growth xxx 34.2% 7.7% xxx
DPS Growth xxx 5.6% 5.3% xxx
PE Ratio xxx N/A 23.6 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 100.7% 98.5% xxx

Dividend yield today if purchased 3 years ago: 4.73%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.96

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: 27/08 - ex-div 9.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 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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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

23/09/2025

1

Outperform

$5.04

4.78%

Post the Optus outage last Thursday, Macquarie estimates every 1% of Optus mobile SIO (active customers) churn represents around 36bps of potential upside to Telstra Group's share price and circa 27bps to TPG Telecom's ((TPG)) share price.

The analyst flags the pick-up in market share could also be underpinned by low growth in mobile for Optus, as well as higher churn.

Telstra's postpaid share gains could lift share to an estimated 51% and TPG to 16.6% over the next 12 months, with a corresponding rise in earnings of circa $55m for Telstra and around $24m for TPG.

Macquarie's base case assumes a 3% Optus SIO churn and a resulting rise in mobile network operator (Telstra and Vodafone) upside of 157k postpaid SIOs and an additional 57k prepaid SIOs.

At this stage, the analyst has not adjusted earnings forecasts. Telstra Group is rated Outperform with a $5.04 target.

FORECAST
Macquarie forecasts a full year FY26 dividend of 20.00 cents and EPS of 20.20 cents.
Macquarie forecasts a full year FY27 dividend of 21.00 cents and EPS of 21.90 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$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

04/12/2025

3

Neutral

$4.80

-0.21%

Jarden notes post NBN's 1Q26 wholesale market report that Telstra Group's unbundling of the modem is a response to market share losses and the group remains exposed to legacy technologies as around 45% of its base remains on FTTN (Fibre to the Node) or FTTC (Fibre to the Curb) connections.

The analyst points to a notable positive mix in its base with around 27% of customers now on 100Mbps plus plans versus 20% the previous quarter.

The stock remains Neutral rated with a $4.80 target price.

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

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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
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10
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