TPG TELECOM LIMITED (TPG)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

TPG

TPG - TPG TELECOM LIMITED

FNArena Sector : Telecommunication
Year End: December
GICS Industry Group : NONE
Debt/EBITDA: 2.52
Index: ASX200 | ASX300 | ALL-ORDS

TPG Telecom is an Australian telecommunications company providing consumer and business internet services and mobile phone services. In 2020 Vodaphone Hutchison merged with TPG Telecom and relisted under the same name.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.04

06 Mar
2026

0.090

OPEN

$3.92

2.28%

HIGH

$4.05

1,778,544

LOW

$3.92

TARGET
$4.038 0.0% downside
Franking for last dividend paid out: 30%
OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . MAQ . SLC . SPK . TLS . TUA .
FNARENA'S MARKET CONSENSUS FORECASTS
TPG: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 6.9 9.1 xxx
DPS (cps) xxx 179.0 19.0 xxx
EPS Growth xxx N/A 32.1% xxx
DPS Growth xxx 100.0% - 89.4% xxx
PE Ratio xxx N/A 42.8 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 2590.4% 208.2% xxx

Dividend yield today if purchased 3 years ago: 34.82%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 45.78

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: 14/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx6.9
DPS All xxxxxxxxxxxxxxx179.0
Sales/Revenue xxxxxxxxxxxxxxx5,041.0 M
Book Value Per Share xxxxxxxxxxxxxxx444.2
Net Operating Cash Flow xxxxxxxxxxxxxxx2,092.0 M
Net Profit Margin xxxxxxxxxxxxxxx1.03 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx0.52 %
Return on Invested Capital xxxxxxxxxxxxxxx0.35 %
Return on Assets xxxxxxxxxxxxxxx0.30 %
Return on Equity xxxxxxxxxxxxxxx0.52 %
Return on Total Capital xxxxxxxxxxxxxxx2.57 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx996.0 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 xxxxxxxxxxxxxxx181 M
Long Term Debt xxxxxxxxxxxxxxx3,973 M
Total Debt xxxxxxxxxxxxxxx4,154 M
Goodwill - Gross xxxxxxxxxxxxxxx6,706 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx72 M
Price To Book Value xxxxxxxxxxxxxxx0.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx891.0 M
Capex % of Sales xxxxxxxxxxxxxxx17.68 %
Cost of Goods Sold xxxxxxxxxxxxxxx4,242 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx409 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

02/03/2026

1

Outperform

$4.20

3.96%

Macquarie observes TPG Telecom is gaining mobile share, with 2025 net adds of 228k the strongest among mobile network operators, driven by digital prepaid growth, while postpaid SIOs (services in operation) were flat despite improved churn post Vodafone deal with Optus.

Analysts expect low to mid-single digit mobile services revenue growth, supported by higher-margin digital subscribers and strong operating leverage given the group’s high fixed cost base.

Earnings forecasts are materially reduced at the EPS line, with FY26–FY29 Adj EPS cut by -73%/-62%/-58%/-55%, largely reflecting definition changes, higher D&A and interest, while EBITDA revisions are modest at 0%/-1%/-3%/-5%.

The broker highlights declining capex, deleveraging and potential AI-driven productivity gains as supportive of a path to around $600m in free cash flow to equity and a growing dividend, despite higher ACMA spectrum pricing from 2028.

Outperform retained, with the target price increased to $4.20 from $4.06.

FORECAST
Macquarie forecasts a full year FY26 dividend of 19.00 cents and EPS of 19.00 cents.
Macquarie forecasts a full year FY27 dividend of 20.00 cents and EPS of 20.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

16/02/2026

2

Overweight

$3.95

(28/02/2026)

-2.23%

Ahead of TPG Telecom's 2025 earnings (EBITDA) result which Jarden expects will come in at $1,632m the broker retains an Overweight rating and lifts its target price to $3.95 from $3.70, due to a lower share count assumption following the scaled back institutional placement.

Management is expected to remain disciplined on costs and focused on growth and free cash flow to support sustainable dividend expansion, which the broker believes underpins confidence in the outlook.

A key medium term risk is the approximately $2.3bn in spectrum payments due across 2028 to 2030, which could limit dividend growth, depending on payment terms.

FORECAST
Jarden forecasts a full year FY26 EPS of 7.80 cents.
Jarden forecasts a full year FY27 EPS of 10.80 cents.
Access Extra Coverage Research History >

TPG STOCK CHART

FNArena News on TPG

1
FNArena Corporate Results Monitor – 02-03-2026

Mar 02 2026 - Australia
2
Rudi’s View: More Surprises, Led By CBA & BHP

Feb 19 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Feb 16, 2026

Feb 16 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Dec 10, 2025

Dec 10 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Nov 24, 2025

Nov 24 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