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

$5.14

25 Jun
2026

0.030

OPEN

$5.11

0.59%

HIGH

$5.15

14,016,031

LOW

$5.10

TARGET
$5.454

+0.09 change from previous day

 6.1% 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 FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 19.9 21.7 xxx
DPS (cps) xxx 21.0 21.8 xxx
EPS Growth xxx 5.5% 9.0% xxx
DPS Growth xxx 10.5% 4.0% xxx
PE Ratio xxx N/A 22.4 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 105.6% 100.8% xxx

Dividend yield today if purchased 3 years ago: 5.45%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.32

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: 26/08 - ex-div 10.50c (franking 90%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx19.9
DPS All xxxxxxxxxxxxxxx21.0
Sales/Revenue xxxxxxxxxxxxxxx22,937.0 M
Book Value Per Share xxxxxxxxxxxxxxx113.0
Net Operating Cash Flow xxxxxxxxxxxxxxx6,796.0 M
Net Profit Margin xxxxxxxxxxxxxxx9.77 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx16.93 %
Return on Invested Capital xxxxxxxxxxxxxxx8.22 %
Return on Assets xxxxxxxxxxxxxxx5.03 %
Return on Equity xxxxxxxxxxxxxxx16.93 %
Return on Total Capital xxxxxxxxxxxxxxx12.87 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx1,925.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx3,733 M
Long Term Debt xxxxxxxxxxxxxxx14,870 M
Total Debt xxxxxxxxxxxxxxx18,603 M
Goodwill - Gross xxxxxxxxxxxxxxx3,106 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,103 M
Price To Book Value xxxxxxxxxxxxxxx4.49

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx3,905.0 M
Capex % of Sales xxxxxxxxxxxxxxx17.02 %
Cost of Goods Sold xxxxxxxxxxxxxxx17,380 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,188 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,031 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

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxxxxx xx xxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Macquarie

22/05/2026

3

Downgrade to Neutral from Outperform

$5.57

8.37%

Macquarie downgrades Telstra Group to Neutral from Outperform with a slightly lower target price of $5.57 from $5.64.

The analyst believes it is harder to "justify" the defensive premium against a backdrop of accelerating inflation/growth, the SaaS sell-off and slower subscriber in operation (SIO) meaning the telco needs to lean more into cost cutting.

Telstra raised NBN plan prices by around 3.6% or $2.40 per month, broadly offsetting higher nbnCo wholesale charges from July 2026. The ACMA also finalised spectrum renewal pricing, with total industry costs slightly below prior estimates and Telstra guidance.

Post the de-rating of tech stocks, the broker prefers tech over defensive telcos and views the defensive premium as vulnerable against a rising interest rate environment.

EPS forecasts are tweaked lower but the analyst believes ongoing portfolio management and cost reduction efforts leave scope for future capital management initiatives.

FORECAST
Macquarie forecasts a full year FY26 dividend of 21.00 cents and EPS of 20.70 cents.
Macquarie forecasts a full year FY27 dividend of 21.50 cents and EPS of 22.50 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

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

25/05/2026

3

Neutral

$5.05

-1.75%

Jarden retains a Neutral rating for Telstra Group with a $5.05 target price following an industry analysis of the FY26 financial results from key competitor Optus.

Optus reported an acceleration in postpaid subscriber losses to 31,000 in the March quarter, reflecting an ongoing mobile spin-down trend at the broader market level.

Optus delivered 3.3% year-on-year growth in service revenues during the half driven by higher blended average revenue per user, effectively offsetting recent volume headwinds.

The result provides further evidence industry pricing remains rational, with the broker expecting this dynamic to persist heading into the upcoming spectrum renewal cycle.

Potential industry shifts remain a key watchpoint following Singtel's explicit intent to introduce a local capital partner into the Optus business, the report concludes.
Access Extra Coverage Research History >

TLS STOCK CHART

FNArena News on TLS

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