TELSTRA GROUP LIMITED (TLS)
Share Price Analysis and Chart

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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

$4.93

23 Jul
2026

-0.030

OPEN

$4.97

-0.60%

HIGH

$5.00

24,922,246

LOW

$4.91

TARGET
$5.353 8.6% 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 20.6 xxx
DPS (cps) xxx 19.0 20.8 xxx
EPS Growth xxx 34.2% 9.0% xxx
DPS Growth xxx 5.6% 9.5% xxx
PE Ratio xxx N/A 23.8 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 100.7% 101.2% xxx

Dividend yield today if purchased 3 years ago: 4.47%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.89

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

0.2

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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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Macquarie

10/07/2026

3

Neutral

$5.57

12.98%

Macquarie assesses the latest mobile pricing, noting that over the past six months pricing has moved higher, which supports near-term ARPU (average revenue per unit) without materially compromising subscription growth.

Most of the mobile virtual network operators, those which do not own infrastructure, have raised prices over the past 12 months and operate on either the Telstra or Optus networks.

For Telstra Group, the broker points out the churn risk remains elevated, particularly post its outage in July.

Since the Optus outage in September 2025, the company's discounting across Belong & branded prepaid was a departure from historical trends and this has since normalised, reverting to traditional premium position and offering the least discount over the period.

Neutral rating and $5.57 target.

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.

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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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

09/07/2026

4

Downgrade to Underweight from Neutral

$4.60

-6.69%

Jarden downgrades Telstra Group to an Underweight rating from Neutral with the target price reduced to $4.60 as its analysis suggests intensifying long-term structural risks facing the telco's core mobile network moat.

Emerging technological shifts like satellite direct-to-device capabilities and universal outdoor coverage regulations threaten to compress the firm's historical mobile pricing premium over peers, the report concludes.

The analyst points out near-term earnings remain secure, framing this asset shift as a distant structural re-rating risk rather than an immediate revenue downgrade threat.

Long-duration cash flows well beyond FY34 carry elevated risk as unique continental coverage benefits gradually equalise across all three major domestic networks.

This network perception erosion prompts the broker to expect terminal multiple compression, likely causing the stock's required dividend yield to drift higher over the medium term.

FORECAST
Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 20.30 cents.
Jarden forecasts a full year FY27 dividend of 22.50 cents and EPS of 21.80 cents.
Access Extra Coverage Research History >

TLS STOCK CHART

FNArena News on TLS

1
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Jul 22 2026 - Rudi's View
2
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3
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4
ESG Focus: War Accelerates Energy Transition

Jul 15 2026 - ESG Focus
5
Rudi’s View: Telstra’s Premium Under Scrutiny

Jul 15 2026 - Rudi's View

Latest Telecommunication News

1
Aussie Broadband And The Threat From SpaceX

Jul 16 2026 - Small Caps
2
Rudi’s View: Telstra’s Premium Under Scrutiny

Jul 15 2026 - Rudi's View
3
Aussie Broadband’s Scale-Up Potential

Jun 18 2026 - Small Caps
4
Next Week At A Glance – 8-12 Jun 2026

Jun 05 2026 - Weekly Reports
5
Superloop’s Comeback Post FY25 Disappointment

Sep 19 2025 - Australia
6
Re-Rating Aussie Broadband’s Growth Outlook

Sep 04 2025 - Small Caps
7
Buybacks, Dividends Define Telstra’s Future

Aug 18 2025 - Australia
8
Telstra Shares Enjoying Firm Up-Trend

Jul 17 2025 - Technicals
9
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Jul 04 2025 - Weekly Reports
10
Telstra Targets Sustainable, Growing Dividends

May 30 2025 - Australia