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: 1.86
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

$4.63

01 Sep
2026

-0.040

OPEN

$4.63

-0.86%

HIGH

$4.66

22,331,868

LOW

$4.61

TARGET
$5.124 10.7% upside
Franking for last dividend paid out: 90%
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 21.8 xxx
Dividend Yield xxx N/A 4.6% xxx
Div Pay Ratio(%) xxx 105.6% 100.8% xxx

Dividend yield today if purchased 3 years ago: 5.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.45

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

0.3

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx 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

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

14/08/2026

3

Neutral

$5.02

8.42%

Telstra Group's result showed excellent execution, Macquarie suggests, but excellence was expected.

Postpaid remains challenging, the broker notes, and it's hard to see an upgrade catalyst in a subdued postpaid market, but mobile services revenue growth remains solid.

Commentary assures Telstra retains levers if its coverage advantage is weakened by Starlink or the ACCC enquiry. Mobile Services operating leverage is being offset by redundancies and satellite-to-mobile costs.

The result made Telstra's multiple hard to justify, Macquarie believes, with the telco's defensive premium eroded by a higher rate/accelerating growth landscape and increasing competition. Neutral retained, target falls to $5.02 from $5.19.

FORECAST
Macquarie forecasts a full year FY27 dividend of 21.50 cents and EPS of 21.60 cents.
Macquarie forecasts a full year FY28 dividend of 22.00 cents and EPS of 23.50 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

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

17/08/2026

4

Underweight

$4.60

-0.65%

Jarden retains an Underweight rating for Telstra Group with a $4.60 target price following an in-line FY26 result paired with softer cash operating earnings guidance.

Capital management aligned with market expectations via a 21.0c dividend per share and an announced $1bn FY27 share buyback, while cash EBIT guidance missed expectations by -1%.

Mobile service revenue remained flat sequentially, accompanied by half-on-half postpaid revenue contractions stemming from subscriber mix changes, reduced roaming, and remediation impacts.

The analyst highlights accelerating spin-down trends across the broader telecommunications market, estimating overall industry postpaid connections fell by -93k across the half.

The broker's estimates incorporate mobile EBITDA growth accelerating to 6% in FY27, yet the analyst remains cautious regarding long-term mobile earnings durability as regional network advantages erode.
Access Extra Coverage Research History >

TLS STOCK CHART

FNArena News on TLS

1
Rudi’s View: Resilient, But August Fails To Excite

Sep 02 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Aug 17, 2026

Aug 17 2026 - Daily Market Reports
3
FY26 Result Puts Telstra’s Premium In Focus

Aug 17 2026 - Australia
4
FNArena Corporate Results Monitor – 14-08-2026

Aug 14 2026 - Australia
5
FNArena Corporate Results Monitor – 13-08-2026

Aug 13 2026 - Australia

Latest Telecommunication News

1
FY26 Result Puts Telstra’s Premium In Focus

Aug 17 2026 - Australia
2
Aussie Broadband And The Threat From SpaceX

Jul 16 2026 - Small Caps
3
Rudi’s View: Telstra’s Premium Under Scrutiny

Jul 15 2026 - Rudi's View
4
Aussie Broadband’s Scale-Up Potential

Jun 18 2026 - Small Caps
5
Next Week At A Glance – 8-12 Jun 2026

Jun 05 2026 - Weekly Reports
6
Superloop’s Comeback Post FY25 Disappointment

Sep 19 2025 - Australia
7
Re-Rating Aussie Broadband’s Growth Outlook

Sep 04 2025 - Small Caps
8
Buybacks, Dividends Define Telstra’s Future

Aug 18 2025 - Australia
9
Telstra Shares Enjoying Firm Up-Trend

Jul 17 2025 - Technicals
10
In Brief: Austal, Superloop, Motorcycle Holdings & Nanosonics

Jul 04 2025 - Weekly Reports