KPN's service revenue growth rebounded to 2.7% year over year in the third quarter, easing our concerns as prior-year contract headwinds faded and mobile momentum strengthened. Management confirmed its 2026 service revenue growth guidance of 1.5% and adjusted EBITDAaL outlook of EUR 2.67 billion.
The Dutch competitive and regulatory environment is benign compared with other European countries. The rational oligopoly structure in the broadband market should help to maintain stability. The Dutch regulatory environment is less interventionist.
KPN's steady market share gains in the broadband market could trigger a price response from competitors.
|
Metric
|
KPN
|
SCMN
|
VOD
|
|---|---|---|---|
Price/Earnings (Normalized) | 17.70 | 25.40 | 75.14 |
Price/Book Value | 6.71 | 3.09 | 0.63 |
Price/Sales | 2.68 | 2.40 | 0.81 |
Price/Cash Flow | 6.92 | 5.91 | 2.65 |
|
Metric
|
KPN
|
SCMN
|
VOD
|
|---|---|---|---|
Quick Ratio | 0.63 | 0.44 | 0.86 |
Current Ratio | 0.66 | 0.62 | 1.14 |
Interest Coverage | 5.18 | 5.60 | 1.67 |
|
Metric
|
KPN
|
SCMN
|
VOD
|
|---|---|---|---|
Return on Assets (Normalized) | 7.23% | 3.65% | −1.20% |
Return on Equity (Normalized) | 37.75% | 11.14% | −2.96% |
Return on Invested Capital (Normalized) | 10.60% | 10.29% | 0.11% |
|
1-Day Chart
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