User

Tele2 AB (publ)

TEL2-A.ST

Telecommunications Services · Communication Services

Price

kr 185.50

+3.50 (+1.92%)

Market Cap

kr 128.65B

Exchange

Stockholm Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Winston Score above 70. The stock passes most of our quality checks.

Tele2 AB is a Swedish telecommunications company that provides mobile phone service, home internet, and TV to everyday consumers and businesses. It operates mainly in Sweden and the Baltic states — Estonia, Latvia, and Lithuania — and owns the Tele2 brand, which is one of the most recognized telecom names in the Nordic region. The company competes in an industry where customers need reliable connectivity for daily life and work.

Tele2 makes money by charging monthly subscription fees for mobile plans, broadband, and bundled TV packages. It is a mid-sized European telecom with a market cap around $121 billion Swedish kronor, and its moat comes from owning physical network infrastructure, which is expensive and slow for rivals to replicate. The main growth driver is expanding fiber broadband and 5G coverage, while the key risk is intense price competition from larger rivals like Telia, which can pressure margins over time.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+630.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

99.0%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$5.4B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Tele2 AB (publ) is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

43.9%

Healthy — 43.9% gross margin

Operating Margin

95.0%

Excellent — 95.0% operating margin

ROCE

13.3%

Good — 13.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+1.4%

Nearly flat sales (1.4% YoY)

EPS YoY

+159.1%

Earnings growing fast (159.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

114%

Turns 114% of profit into real cash

FCF Margin

26.1%

Converts sales into free cash efficiently (26.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.80

Moderate — manageable debt (0.80)

Interest Cover

12.44x

Comfortably covers interest (12.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio

29.5x

Growth-priced — P/E 29.5

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+10.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (29.5 → 19.2)

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Dividends

Dividend Yield

4.82%

Healthy income — 4.82% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+23.0%

Dividend growing fast (23.0% YoY)

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