olivLaw · European equity research
Οργανισμος Τηλεπικοινωνιων Της Ελλαδος Ανωνυμη Εταιρεια HTO.AT
Greece · Athens Stock Exchange · ISIN GRS260333000 · Vertical: Listed companies from Greece
At the close of 06 Nov 2026, Οργανισμος Τηλεπικοινωνιων Της Ελλαδος Ανωνυμη Εταιρεια (HTO.AT) stock was 18.78 EUR (−0.58% on the day), with market capitalisation 7.5 bn EUR, P/E 15.0 on diluted EPS of 1.25 EUR over the last 12 months, dividend yield 3.95%, beta 0.42, 52-week range 15.77–20.40 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 41.1
- weak (30–45)
- Bollinger (20, 2)
- 18.63 – 19.71
- in the lower half of the band · %B 0.14 · band width 5.6%
- SMA 50 / 200
- 19.47 / 18.50
- mixed trend
- MACD (12, 26, 9)
- -0.17 / -0.15
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −3.7% | −0.6% | −3.0 pp | — |
| 3 months | −5.1% | −4.2% | −0.9 pp | — |
| 6 months | +3.6% | +4.3% | −0.7 pp | — |
| Year to date | +11.4% | +7.5% | +3.9 pp | — |
| 1 year | +15.6% | +9.9% | +5.7 pp | +0.4% |
| 3 years | +38.5% | +49.8% | −11.4 pp | +38.4% |
| 5 years | +24.1% | +42.8% | −18.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 12.8, median 13.2, max 13.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 3.5 bn | 3.3 bn | 3.5 bn |
| Revenue YoY | unavailable | −3.9% | +3.9% |
| Net income | 531.7 m | 478.8 m | 501.1 m |
| Net income YoY | unavailable | −9.9% | +4.7% |
| Diluted EPS | unavailable | 1.16 | 1.25 |
| Diluted EPS YoY | unavailable | unavailable | +7.3% |
| net % | 15.3% | 14.4% | 14.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 520.9 m EUR
- Financial debt
- 350.0 m EUR
- Net debt
- -170.9 m EUR
- Equity
- 2.1 bn EUR
- Total assets
- 5.0 bn EUR
- Debt / equity
- 0.17x
- Current ratio
- 0.65x
- ROE
- 24.6%
- ROA
- 10.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 3.5 bn | 3.3 bn | 3.5 bn | esef· 23 Oct 2026verified |
| Operating income | 715.7 m | 784.8 m | 821.0 m | esef· 23 Oct 2026verified |
| Pre-tax income | 699.5 m | 798.6 m | 803.1 m | esef· 23 Oct 2026verified |
| Income tax | 167.8 m | 182.1 m | 77.1 m | esef· 23 Oct 2026verified |
| Net income | 531.7 m | 478.8 m | 501.1 m | esef· 23 Oct 2026verified |
| Diluted EPS | — | 1.16 | 1.25 | esef· 23 Oct 2026verified |
| Dividend per share | — | 0.72 | 0.74 | esef· 23 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 463.9 m | 467.0 m | 520.9 m | esef· 23 Oct 2026verified |
| Receivables | 537.6 m | 536.4 m | 592.3 m | esef· 23 Oct 2026verified |
| Inventories | 58.9 m | 51.1 m | 39.9 m | esef· 23 Oct 2026verified |
| Current assets | 1.2 bn | 1.3 bn | 1.4 bn | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 2.2 bn | 2.2 bn | 2.3 bn | esef· 23 Oct 2026verified |
| Goodwill | 376.6 m | 376.6 m | 376.6 m | esef· 23 Oct 2026verified |
| Total assets | 4.9 bn | 5.0 bn | 5.0 bn | esef· 23 Oct 2026verified |
| Accounts payable | 866.4 m | 866.4 m | 824.3 m | esef· 23 Oct 2026verified |
| Short-term debt | 0 | 0 | 0 | esef· 23 Oct 2026verified |
| Long-term debt | 847.7 m | 848.5 m | 350.0 m | esef· 23 Oct 2026verified |
| Current liabilities | 1.6 bn | 1.6 bn | 2.1 bn | esef· 23 Oct 2026verified |
| Equity | 1.9 bn | 2.0 bn | 2.1 bn | esef· 23 Oct 2026verified |
| Shares outstanding at year end | — | 411.7 m | 401.5 m | esef· 23 Oct 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 1.2 bn | 1.1 bn | 1.2 bn | esef· 23 Oct 2026verified |
| Investing cash flow | -604.8 m | -584.1 m | -572.9 m | esef· 23 Oct 2026verified |
| Financing cash flow | -716.3 m | -515.3 m | -550.3 m | esef· 23 Oct 2026verified |
| Share repurchases | 177.0 m | 150.6 m | 150.1 m | esef· 23 Oct 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 7.5 bn EUR
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 10.08 – 16.84 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E10.41 – 16.84 (Mid 13.98)26 companies used · median multiple 11.2x · quartiles 8.3x – 13.5xAEGN.AT, AEM.AT, ALMY.AT, ASCO.AT, ASTAK.AT, AVAX.AT, BELA.AT, BIOKA.AT, BIOSK.AT, BIOT.AT, BRIQ.AT, BYLOT.AT, CENER.AT, CENTR.AT, DAIOS.AT, DIMAND.AT, EIS.AT, ELBE.AT, ELHA.AT, ELLAKTOR.AT, ELSTR.AT, ELTON.AT, ETE.AT, EUROB.AT, EYAPS.AT, FAIS.AT
- Dividend discount (DDM)10.08 – 13.75 (Mid 11.64)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 34.6% | 96 (vs peers) | 28% |
| Net margin · Quality | 14.5% | 64 (vs peers) | 17% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 15.0x | 33 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 2.0% | 28 (on a fixed band) | 17% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality84/100 · 2/3 factors with a value
- Returns· partial28/100 · 1/2 factors with a value
- Valuation· partial33/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ΟΡΓΑΝΙΣΜΟΣ ΤΗΛΕΠΙΚΟΙΝΩΝΙΩΝ ΤΗΣ ΕΛΛΑΔΟΣ ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ (HTO.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 3.5 bn EUR in 2025; YoY growth 3.9%; net margin 14.5%; ROE 24.6%.
The estimated value range is 10.25–15.29 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 12.81 EUR, the price of 18.78 EUR leaves a potential of -31.8% (value / price − 1) and a margin of safety of -46.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 34.6%
What contradicts it
- Current ratio: 0.7x
- Shareholder yield (distributions): 2.0%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Greece · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EUROB.ATΤραπεζα Eurobank Ανωνυμη Eταιρεια | 16.5 bn | 12.1 | 14.0% | 39.7% | +2.7% | +32% / +165% |
| ETE.ATΕθνικη Τραπεζα Της Ελλαδος Α.ε. | 14.8 bn | 12.7 | 13.3% | 42.5% | −5.4% | +21% / +159% |
| HTO.ATΟργανισμος Τηλεπικοινωνιων Της Ελλαδος Ανωνυμη Εταιρεια | 7.5 bn | 15.0 | 24.6% | 14.5% | +3.9% | +10% / +39% |
| ELPE.ATHelleniq Energy Ανωνυμη Εταιρεια Συμμετοχων | 4.9 bn | 28.2 | 6.4% | 1.5% | −9.0% | +95% / +111% |
| CENER.ATCenergy Holdings | 4.4 bn | 22.9 | 24.3% | 9.4% | +14.7% | +41% / +199% |
| BELA.ATJumbo Ανωνυμη Εμπορικη Εταιρεια | 3.7 bn | 11.5 | 21.5% | 26.0% | +7.2% | +0% / +14% |
| AKTR.ATΑκtor Ανώνυμη Εταιρεία Συμμετοχών, Τεχνικών Και Ενεργειακών Έργων | 2.0 bn | 110.6 | 6.7% | 1.3% | +11.2% | +7% / +186% |
| EYDAP.ATΕταιρια Υδρευσεως Και Αποχετευσεως Πρωτευουσης Ανωνυμη Εταιρια | 1.4 bn | — | -2.6% | -5.9% | −2.4% | +83% / +132% |
| ELHA.ATEλβαλχαλκορ Ελληνικη Βιομηχανια Χαλκου Και Αλουμινιου Ανωνυμος Εταιρεια | 1.3 bn | 12.2 | 9.8% | 2.9% | +5.1% | +4% / +80% |
| AEGN.ATΑεροπορια Αιγαιου Ανωνυμη Αεροπορικη Εταιρεια | 995.2 m | 6.7 | 27.7% | 7.9% | +4.6% | −23% / −3% |
| AVAX.ATΑβαξ Ανωνυμη Εταιρεια Εργοληπτικη-Τουριστικη-Εμπορικη-Βιομηχανικη-Οικοδομικων Υλικων & Μηχανηματων | 495.3 m | 10.4 | 25.9% | 5.0% | +47.1% | +37% / +119% |
| BYLOT.ATBally's Intralot Α.ε. | 460.2 m | 15.1 | -9.3% | -12.6% | +34.8% | +10% / +17% |
| ELLAKTOR.ATΕλλακτωρ Ανωνυμη Εταιρεια | 419.4 m | 2.7 | 26.1% | 175.2% | −74.8% | −32% / −44% |
| AEM.ATAlter Ego Media Α.ε. | 350.0 m | 17.8 | 18.3% | 14.0% | +12.6% | −3% / unavailable |
| ALMY.ATΑλουμυλ Βιομηχανια Αλουμινιου Αε | 319.4 m | 10.4 | 23.5% | 6.0% | +11.7% | +15% / +118% |
| DIMAND.ATDimand Ανωνυμη Εταιρεια Αξιοποιησης Και Εκμεταλλευσης Ακινητων Και Κατασκευων Υπηρεσιων Και Συμμετοχων | 266.7 m | 7.6 | 18.5% | 58.5% | +110.6% | +42% / +28% |
| EVR.ATΕυρώπη Holdings Α.ε. | 168.6 m | 37.2 | 2.9% | 30.7% | +435.3% | −32% / +33% |
| EYAPS.ATΕταιρεια Υδρευσης & Αποχετευσης Θεσσαλονικης Α.ε. | 166.6 m | 21.6 | 4.1% | 8.8% | +2.4% | +22% / +39% |
| BRIQ.ATBriq Properties Ανωνυμη Εταιρεια Επενδυσεων Σε Ακινητη Περιουσια | 148.6 m | 5.9 | 15.5% | 116.9% | +37.8% | +12% / +69% |
| FAIS.ATΦαις Συμμετοχων Ανωνυμη Εταιρεια | 116.3 m | 8.7 | 22.1% | 6.3% | +12.9% | −7% / unavailable |
| DAIOS.ATΔαϊος Πλαστικα Ανωνυμη Βιομηχανικη Εμπορικη Εταιρεια Α.ε. | 102.0 m | 10.3 | 14.0% | 15.6% | +9.1% | −5% / +113% |
| ASTAK.ATAlpha Real Estate Services Ae | 94.7 m | 12.6 | 10.4% | 30.3% | +22.4% | −7% / −7% |
| ASCO.ATA.s. Εμπορικη-Βιομηχανικη Εταιρια Η/υ & Παιχνιδιων Α.ε. | 59.6 m | 10.4 | 14.1% | 15.8% | +16.4% | +10% / +105% |
| AVE.ATAve Α.ε. | 50.4 m | — | -25.2% | -7.4% | +8.2% | −8% / −13% |
| ELTON.ATΕλτον Διεθνους Εμποριου Ανωνυμη Εμπορικη Βιομηχανικη Εταιρεια | 46.8 m | 13.7 | 4.9% | 1.9% | +8.6% | −12% / −19% |
1- and 3-year price returns: for HTO.AT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.03 Total return -38% · Per year -38% | 19.51 Total return 8% · Per year 8% | 29.40 Total return 62% · Per year 62% |
| 3 years | 10.58 Total return -35% · Per year -13% | 21.07 Total return 25% · Per year 8% | 34.87 Total return 102% · Per year 26% |
| 5 years | 10.15 Total return -31% · Per year -7% | 22.75 Total return 43% · Per year 7% | 41.36 Total return 150% · Per year 20% |
- Exit P/E± 5.27
- Net margin± 3.69
- Annual revenue growth± 3.04
- Annual dilution± 0.31
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202523 Oct 2026
- Annual report 202408 May 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.