Deutsche Telekom AG
5-year stock timeline
The 2020 Sprint–T‑Mobile merger left Deutsche Telekom with a substantial, value-driving stake in T‑Mobile US and materially reshaped the company's exposure to US wireless growth. DT sold T‑Mobile Netherlands in 2021, then executed buybacks and purchased T‑Mobile US shares in 2022–2023, surpassing a 50% stake by 2023 while advancing Open RAN deployments and multivendor network initiatives through 2023–2024.
In 2025, corporate moves included a capital decrease through share cancellation and growing strategic partnerships around industrial AI and cloud services. By 2026, the company was publicly reported to be exploring a potential combination with T‑Mobile US—events that would carry significant implications for valuation if completed.
Investor perception shifted from a classic defensive European telecom to a hybrid story where DT's US exposure via T‑Mobile US became the dominant growth and option value driver for the group. From 2022–2025 the narrative broadened to include operational transformation through Open RAN, cloud and AI partnerships, active capital allocation via buybacks and share cancellation, and optionality around further US consolidation. By 2026, M&A speculation reframed the stock as an M&A and re‑rating candidate.
The stock saw a sharp COVID drawdown into March 2020 followed by recovery through 2020–2021 as markets reassessed DT's asset mix and cash flows. A clearer uptrend and multiple re‑rating developed in 2022–2023 as stake increases and T‑Mobile US outperformance supported higher valuation. Through 2024–2025, the stock exhibited sideways consolidation punctuated by corporate actions, notably the August 2025 share cancellation. In early 2026, public discussion of a potential DT–T‑Mobile US combination pushed the stock toward renewed breakout strength into the current €29.38 area, making the name sensitive to any confirmation or reversal of the M&A narrative.
Key risks and downside factors
Deutsche Telekom navigates a densely packed European and global telecom landscape where incumbent carriers and regional competitors press on mobile, fixed broadband, and enterprise services growth. The group's financial character is substantially shaped by its T‑Mobile US stake and by T‑Systems alongside European fixed‑broadband operations—concentrating its exposure to operational, competitive, and regulatory shifts.
- Intensifying price competition in Germany from O2 and 1&1 is putting pressure on consumer ARPU and market share.
- Enterprise-services margins are tightening as hyperscalers and consultancies chip away at T-Systems' cloud and managed-services business.
- T-Mobile US performance carries real weight here—swings in US operations can meaningfully move group EBITDA and growth metrics in either direction.
- Satellite and alternative broadband providers like Starlink are reshaping competitive dynamics, while vendor constraints and geopolitical supply-chain friction continue to pressure equipment costs and availability.
Competitive landscape
Deutsche Telekom operates in a crowded market where it faces direct competition from major European incumbents like Vodafone, Telefónica, and Orange, while its T-Mobile US exposure brings it into contact with large American carriers. The US business significantly influences overall revenue and earnings, and this matters because the German retail and enterprise segments operate in fiercely competitive domestic markets that consistently pressure margins. The enterprise and managed-services business adds another layer of exposure—hyperscalers and specialist cloud and IT services providers are gradually reshaping what customers expect and what they're willing to pay for.
| Company | Ticker |
|---|---|
| Verizon Communications Inc | VZ.NYSE |
| Telefónica, S.A. | TEF.MC |
Private competitors
- SpaceX (Starlink)
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Start Free TrialPerformance Figures of Deutsche Telekom AG
Relative Performance vs Benchmarks
| Period | Deutsche Telekom AG | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -0.64% | -0.88% | -4.17% |
| 3M | -7.04% | -4.77% | -14.53% |
| 6M | +9.82% | +3.83% | -2.15% |
| 1Y | -9.99% | -11.82% | -35.17% |
| 3Y | +47.90% | -2.48% | -34.24% |
| 5Y | +101.49% | +42.94% | +12.16% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 16.1 | 1.2 | 2.2 | 3.5 |
| 1Y ago | 13.6 | 1.0 | 2.6 | 4.0 |
| 3Y ago | 5.0 | 1.0 | 1.7 | 3.0 |
| 5Y ago | 18.8 | 0.7 | 2.0 | 2.8 |
Frequently Asked Questions
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What does Deutsche Telekom AG do?
What are the key metrics for DTE.XETRA?
How has Deutsche Telekom AG's stock price performed?
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Does DTE.XETRA pay dividends?
What are the key risks when investing in DTE.XETRA?
- Intensifying price competition in Germany from O2 and 1&1 is putting pressure on consumer ARPU and market share.
- Enterprise-services margins are tightening as hyperscalers and consultancies chip away at T-Systems' cloud and managed-services business.
- T-Mobile US performance carries real weight here—swings in US operations can meaningfully move group EBITDA and growth metrics in either direction.
- Satellite and alternative broadband providers like Starlink are reshaping competitive dynamics, while vendor constraints and geopolitical supply-chain friction continue to pressure equipment costs and availability.
Who are the main competitors of Deutsche Telekom AG?
- Verizon Communications Inc (VZ.NYSE)
- Telefónica, S.A. (TEF.MC)
When does Deutsche Telekom AG report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 1.00 EUR | 3.14% | 3.88% |
| 2025 | 0.90 EUR | 2.85% | |
| 2024 | 0.77 EUR | 3.41% | |
| 2023 | 0.70 EUR | 3.04% | |
| 2022 | 0.64 EUR | 3.64% | |
| 2021 | 0.60 EUR | 3.48% | |
| 2020 | 0.60 EUR | 3.91% | |
| 2020 | 0.60 EUR | 5.01% | |
| 2019 | 0.70 EUR | 4.51% | |
| 2018 | 0.65 EUR | 4.60% | |
| 2017 | 0.60 EUR | 3.39% | |
| 2016 | 0.55 EUR | 3.35% | |
| 2015 | 0.50 EUR | 2.94% | |
| 2014 | 0.50 EUR | 3.87% | |
| 2013 | 0.70 EUR | 7.11% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 119.08B | 115.11B | 111.97B | 114.20B | 107.61B |
| Operating income (EBIT) | 26.82B | 26.28B | 20.80B | 15.41B | 13.06B |
| Net income | 9.61B | 11.21B | 21.99B | 9.48B | 6.10B |
| Free cash flow | 28.31B | 20.70B | 13.01B | 11.71B | 5.81B |
| Total assets | 310.83B | 328.29B | 313.44B | 321.03B | 281.63B |
| Equity | 62.17B | 63.30B | 56.92B | 48.56B | 42.68B |
| Net debt | 133.36B | 137.98B | 133.55B | 141.40B | 136.06B |
PWP Leeway UG (haftungsbeschränkt)
