Koninklijke KPN N.V.
Koninklijke KPN N.V. provides telecommunications and information technology (IT) services in the Netherlands. The company operates through Consumer, Business, Wholesale and Network, and Operations & IT segments. It offers fixed and mobile telephony, fixed and mobile broadband internet, and TV to re…
Koninklijke KPN N.V. provides telecommunications and information technology (IT) services in the Netherlands. The company operates through Consumer, Business, Wholesale and Network, and Operations & IT segments. It offers fixed and mobile telephony, fixed and mobile broadband internet, and TV to retail and business consumers; infrastructure and network-related IT solutions to business customers; and wholesale network services to third parties. The company also provides network-related ICT solutions, such as security, internet of things, cloud, connectivity, and smart combinations; interconnect traffic, visitor roaming, digital products, and NL-ix interconnect exchange services; and sale of handsets and peripheral equipment, as well as software licenses. It offers its products and services under the KPN, XS4ALL, Simyo, KPN Security, KPN Health, Solcon, Inspark, and KPN Partner Network, KPN IoT, and youfone brands. The company was formerly known as Koninklijke PTT Nederland NV and changed its name to Koninklijke KPN N.V. in June 1998. Koninklijke KPN N.V. was founded in 1881 and is headquartered in Rotterdam, the Netherlands.After signing in, return here and select “Add to watchlist”. Saving companies requires a verified email address.
Looks overvalued
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Start with the price and fair value range, then review the data dates and assumptions below. Estimates are not predictions or investment advice.
Market price above modeled range
Showing the Fade DCF (10-year growth fade) you selected on the company card, using 3.37% growth, 2.9% terminal growth and 10.4% discount. The range varies these assumptions slightly; it is illustrative, not investment advice. Low confidence: the modelled value is far from the market price, which usually means the model does not capture this company well (for example expected growth well above its history).
Assumptions: growth 3.37%, discount rate 10.40%, terminal growth 2.90% (sector defaults). See a worked example.
Blended growth assumption: 3.4% (sector default 7.0%, own revenue history 2.4%, analyst revenue consensus 2.0%).
5-year outlook: relative outlook of about 4.4% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 2.0% a year; the growth assumption used is 3.4%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 1.60 (-63.6%)
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EPS-based Gordon proxy
— EUR 2.82 (-35.9%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 1.60 (-63.6%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 1.53 (-65.2%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 6.00 (+36.4%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 1.60 (-63.7%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 12.22 (+177.7%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear EUR 0.77 | -471.0% |
| Base EUR 1.60 | -175.1% |
| Bull EUR 3.04 | -44.6% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
5 years price change: +110.18% · EUR 4.40 · Market data through 06 Nov 2026 ; dashed line is today’s model base value (EUR 1.60). The fair value is today’s estimate, not what the model said in the past.
Saved price history is current through 06 Nov 2026; last refreshed 06 Nov 2026 18:33 (28 minutes ago).
08 Nov 2021Range EUR 2.07 – 4.6306 Nov 2026
Latest news
Headlines provided by EODHD. Articles may mention multiple companies and are not investment recommendations.
More detail: quality, peers, price history, dividends and financials
Quality score: 82 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +2.4% a year | 12 / 20 |
| Balance sheet | net debt 2.9x EBITDA | 10 / 20 |
| Margins | EBITDA margin 47% | 20 / 20 |
Peers in Communication Services
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| KPN.AS (this company) | EUR 4.40 | -174.7% | 21.4 | 7.2 | 3.7% | 82 |
| DTE.DE Deutsche Telekom AG | EUR 25.91 | 49.6% | 14.4 | 2.1 | 5.5% | 82 |
| VOD.L Vodafone Group Public Limited Company | GBP 1.17 | 42.0% | – | 0.7 | 3.2% | 66 |
| PUB.PA Publicis Groupe S.A. | EUR 102.95 | 41.8% | 15.8 | 2.5 | 3.5% | 90 |
| CMCSA Comcast | USD 24.95 | 39.1% | 7.9 | 1.0 | 5.4% | 82 |
| TEF.MC Telefonica, S.A. | EUR 3.38 | 33.4% | – | – | 8.9% | 59 |
| INF.L Informa plc | GBP 8.37 | 23.3% | – | 1.9 | 2.4% | 66 |
| SONY Sony Group Corporation | USD 27.54 | 19.5% | – | – | – | 82 |
| EMBRAC-B.ST Embracer Group AB | SEK 95.66 | 18.3% | – | 1.0 | – | 56 |
| Peer median | 14.4 | 1.5 | ||||
Dividends
Paid in the last 12 months: EUR 0.19 per share · yield 4.30% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.189 |
| 2025 | 0.175 |
| 2024 | 0.166 |
| 2023 | 0.147 |
| 2022 | 0.139 |
| 2021 | 0.132 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 5,797,000,000 |
|---|---|
| EBITDA | EUR 2,744,000,000 |
| EBIT | EUR 1,398,000,000 |
| Net income | EUR 855,000,000 |
| Free cash flow | EUR 1,045,000,000 |
| Capital expenditures | EUR 1,263,000,000 |
| Debt | EUR 8,549,000,000 |
| Cash | EUR 587,000,000 |
| Working capital | EUR -771,000,000 |
| Shares outstanding | 4,160,000,000 |
| Reported dividends per share | EUR 0.1623 |