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Tele2 AB (publ) vs Temenos: Which Stock Looks Stronger in 2026?

Tele2 AB (publ) holds the cleaner structural position, with growth as the main driver and valuation adding further support. Temenos does not offset that deficit through any equally strong structural edge elsewhere. The market setup is currently leaning toward Temenos, which does not confirm the structural lead. That leaves a split case: the structural lead stays with Tele2 AB (publ), but the market is not currently confirming it.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the STOXX 600 universe, making them directly comparable.

Updated 2026-07-05

The lead is spread across growth and valuation, rather than sitting in one isolated gap. The overall score gap is 17 points in favour of Tele2 AB (publ).

Trajectory Similarity
0.63
Moderately similar
Peer-set rank: #24
within Tele2 AB (publ)'s functional peer set

These two companies are linked by measured long-term financial trajectory similarity within the selected peer universe.

A moderate similarity means the pair is structurally comparable, but not a near-twin trajectory match.

The clearest structural overlap shows up in revenue stability and operating margin level.

Similarity drivers
revenue stabilityoperating margin level
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
TEL2-B.ST
Tele2 AB (publ)
65
Peer-Score
Signal qualityMedium
Peer basis: STOXX 600
vs
TEMN.SW
Temenos AG
48
Peer-Score
Signal qualitylow
Peer basis: STOXX 600

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

Score differences across key dimensions.

Dimension spread: TEL2-B.ST vs TEMN.SW Profitability 60 59 Stability 41 26 Valuation 81 61 Growth 73 33 TEL2-B.ST TEMN.SW
Gap Ranking
#1 Growth +40
#2 Valuation +20
#3 Stability +15
#4 Profitability +1
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for TEL2-B.ST and TEMN.SW Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer TEL2-B.STTEMN.SW Relative valuation Structural strength

Tele2 AB (publ) looks stronger both structurally and on relative valuation.

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Entry today — historical context

Where TEL2-B.ST and TEMN.SW each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY TEL2-B.ST Elevated · above norm 0th 50th 100th 35 pct gap TEMN.SW Neutral · below norm 0th 50th 100th 92nd 57th
Today TEMN.SW sits in the upper-middle of its own 5-year history (57th percentile), while TEL2-B.ST sits higher in its own history (92nd). Within each stock's own 5-year context, TEMN.SW is at a historically more favourable entry position than TEL2-B.ST. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Growth
On growth, Tele2 AB (publ) ranks near the top of the group; Temenos AG sits in the weaker half.
Valuation
On valuation, the same pattern holds: both are strong, but Tele2 AB (publ) still leads clearly.
Growth — Dominant Gap
TEL2-B.ST
73
TEMN.SW
33
Gap+40in favour of TEL2-B.ST

Earnings growth is one contributing factor within the growth lead.

What keeps the gap from being one-sided

Temenos AG still shows lower market-fundamental divergence, which keeps the wider picture mixed rather than completely one-sided.

What this means for the comparison

Growth is the clearest driver, and valuation also supports Tele2 AB (publ)'s broader structural position.

Explore full peer positioning in AssetNext

Break down the TEL2-B.ST vs TEMN.SW comparison across all dimensions with the full interactive tool.

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Similar growth-driven comparisons

Explore how TEL2-B.ST and TEMN.SW each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.