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

$5.18

04 Mar
2026

-0.030

OPEN

$5.18

-0.58%

HIGH

$5.22

22,916,191

LOW

$5.14

TARGET
$5.307 2.4% 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 20.7 xxx
DPS (cps) xxx 19.0 20.8 xxx
EPS Growth xxx 34.2% 9.8% xxx
DPS Growth xxx 5.6% 9.5% xxx
PE Ratio xxx N/A 25.0 xxx
Dividend Yield xxx N/A 4.0% xxx
Div Pay Ratio(%) xxx 100.7% 100.5% xxx

Dividend yield today if purchased 3 years ago: 4.65%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.67

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

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

20/02/2026

3

Hold

$5.20

0.39%

Telstra Group’s 1H26 result was slightly better than Morgans expected, with full year guidance broadly reiterated. 

Highlights identified include a strong performance for the all-important mobile business, strong cashflow and a slightly higher than expected interim dividend.

Cashflow was strong in the period and Telstra has announced it will upsize its on-market buyback to $1.25bn from $1bn, having repurchased $637m in 1H26.

Morgans sees Telstra as expensive relative to fundamental value but acknowledge its defensive earnings stream, reasonable earnings certainty and management's target to “grow cash earnings by mid-single digit CAGR to FY30” appeal to some investors.

Target rises to $5.20 from $4.80, Hold retained.

FORECAST
Morgans forecasts a full year FY26 dividend of 21.00 cents and EPS of 20.00 cents.
Morgans forecasts a full year FY27 dividend of 22.00 cents and EPS of 20.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$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

02/03/2026

3

Neutral

$4.95

-4.44%

Telstra delivered a 1H26 result that was, at a headline, in line, but materially above on cash metrics (partly timing) and capital returns, Jarden notes.

The positive share price response is, in Jarden's view, a clear signal that the market is willing to pay a premium for a defensive compounder that consistently demonstrates it can generate positive operating leverage with a now established  and growing capital return program. 

The cost efficiency lever is now a second, dependable earnings driver alongside mobile. That said, at current levels, the broker believes these positives are reflected in the price, therefore Neutral retained. Target rises to $4.95 from $4.80.

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 23.00 cents and EPS of 21.30 cents.
Access Extra Coverage Research History >

TLS STOCK CHART

FNArena News on TLS

1
Rudi’s View: A Season Of Large Cap Winners

Mar 04 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Mar 02, 2026

Mar 02 2026 - Daily Market Reports
3
Rudi’s View: Positives From February Results

Feb 26 2026 - Rudi's View
4
FNArena Corporate Results Monitor – 20-02-2026

Feb 20 2026 - Australia
5
Next Week At A Glance – 23-27 Feb 2026

Feb 20 2026 - Weekly 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