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Australian (ASX) Telecom Sector Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies42
  • 7D-1.3%
  • 3M-10.9%
  • 1Y-1.2%
  • YTD-1.5%

Over the last 7 days, the Telecom industry has dropped 1.3%, driven by a pullback from Telstra Group of 2.1%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

Has the Australian Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026AU$118.4bAU$42.2bAU$3.4b37x34.6x2.8x
Wed, 24 Dec 2025AU$120.3bAU$43.5bAU$3.4b35.8x35x2.8x
Fri, 21 Nov 2025AU$123.1bAU$43.5bAU$3.4b36.1x35.8x2.8x
Sun, 19 Oct 2025AU$130.6bAU$43.6bAU$3.4b39.9x38x3x
Tue, 16 Sep 2025AU$134.4bAU$43.5bAU$3.4b42.8x39.2x3.1x
Thu, 14 Aug 2025AU$138.3bAU$44.1bAU$2.5b33.6x56x3.1x
Sat, 12 Jul 2025AU$135.8bAU$44.4bAU$2.2b35.5x60.6x3.1x
Mon, 09 Jun 2025AU$134.3bAU$44.4bAU$2.2b41.2x59.9x3x
Wed, 07 May 2025AU$129.9bAU$44.4bAU$2.2b41.8x58x2.9x
Fri, 04 Apr 2025AU$123.6bAU$44.4bAU$2.2b39.4x55.2x2.8x
Sun, 02 Mar 2025AU$126.6bAU$44.4bAU$2.2b36.2x56.5x2.8x
Tue, 28 Jan 2025AU$122.3bAU$44.0bAU$1.9b23.7x64.7x2.8x
Thu, 26 Dec 2024AU$122.1bAU$44.0bAU$1.9b24.4x64.6x2.8x
Sat, 23 Nov 2024AU$124.0bAU$44.0bAU$1.9b23.4x65.6x2.8x
Mon, 21 Oct 2024AU$120.2bAU$44.0bAU$1.9b26x63.6x2.7x
Wed, 18 Sep 2024AU$117.0bAU$44.0bAU$1.9b21.4x62.9x2.7x
Fri, 16 Aug 2024AU$115.9bAU$44.4bAU$2.2b25.5x53.7x2.6x
Sun, 14 Jul 2024AU$113.8bAU$43.6bAU$2.8b22.5x40x2.6x
Tue, 11 Jun 2024AU$110.2bAU$43.6bAU$2.8b23x38.7x2.5x
Thu, 09 May 2024AU$110.7bAU$43.6bAU$2.8b30.3x38.9x2.5x
Sat, 06 Apr 2024AU$111.9bAU$43.6bAU$2.9b30x38.7x2.6x
Mon, 04 Mar 2024AU$115.0bAU$43.6bAU$2.9b34.8x39.8x2.6x
Wed, 31 Jan 2024AU$120.1bAU$43.2bAU$3.4b21.9x35.6x2.8x
Fri, 29 Dec 2023AU$118.5bAU$43.2bAU$3.4b20.9x35.1x2.7x
Sun, 26 Nov 2023AU$108.4bAU$43.2bAU$3.4b20.9x32.1x2.5x
Tue, 24 Oct 2023AU$109.0bAU$43.2bAU$3.4b20.9x32.3x2.5x
Thu, 21 Sep 2023AU$112.1bAU$43.2bAU$3.4b19.9x33.2x2.6x
Sat, 19 Aug 2023AU$113.2bAU$42.8bAU$3.6b18.1x31.2x2.6x
Mon, 17 Jul 2023AU$115.2bAU$42.4bAU$3.3b21.6x35.1x2.7x
Wed, 14 Jun 2023AU$112.7bAU$42.4bAU$3.3b19.8x34.3x2.7x
Fri, 12 May 2023AU$114.2bAU$42.4bAU$3.3b21.1x34.8x2.7x
Sun, 09 Apr 2023AU$113.3bAU$42.4bAU$3.3b22.5x34.5x2.7x
Tue, 07 Mar 2023AU$107.7bAU$42.4bAU$3.3b21.7x32.9x2.5x
Thu, 02 Feb 2023AU$109.0bAU$40.3bAU$3.0b39.3x36.1x2.7x
Price to Earnings Ratio

36.1x


Total Market Cap: AU$109.0bTotal Earnings: AU$3.0bTotal Revenue: AU$40.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Telecom Sector Price to Earnings3Y Average 44.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Communication Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 34.6x which is lower than its 3-year average PE of 44.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 4.2% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Australian Telecom sector?

AU Market-0.29%
Telecom-1.35%
Wireless Telecom0%0
Interactive Media and Services-0.87%
Telecom Services and Carriers-1.46%
Entertainment-2.18%
Media-4.50%
Industry PE
  • Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 196x.
    • Analysts are expecting annual earnings growth of 20.2%, which is lower than the prior year's growth of 307.3% per year.
  • Investors are most pessimistic about the Media industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 6.3% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TUA TuasAU$7.642.6%
+AU$104.2m		23.0%PE532.8x
SLC SuperloopAU$2.422.1%
+AU$25.7m		15.8%PE1031.1x
SEK SEEKAU$22.920.3%
+AU$25.0m		4.6%PE34.3x
IGL IVE GroupAU$3.034.8%
+AU$21.6m		42.9%PE10x
FDV Frontier Digital VenturesAU$0.3117.0%
+AU$19.6m		17.0%PS2x

Latest News

OML
AU$1.34
oOh!media
7D
-2.2%
1Y
11.3%

OML: Steady Growth Assumptions And Higher Required Returns Will Support Future Upside

Analysts have slightly reduced their price target for oOh!media, reflecting a modestly higher discount rate and a small adjustment to projected profit margins and future P/E, while keeping their assessed fair value at A$1.66 per share. Valuation Changes Fair Value: Unchanged at A$1.66 per share, with no adjustment to the central valuation estimate.
EVT
AU$12.57
EVT
7D
-1.9%
1Y
8.8%

EVT: Lower Growth Assumptions Will Still Support Strong Future Share Performance

Analysts have trimmed their price target on EVT to $17.30 from $18.00, citing slightly lower assumptions for revenue growth and profit margins, partly offset by a modestly higher future P/E multiple and a small reduction in the discount rate. Valuation Changes Fair Value: Trimmed from A$18.00 to A$17.30, indicating a small reduction in the central value estimate for EVT shares.
FDV
AU$0.31
Frontier Digital Ventures
7D
17.0%
1Y
17.0%

A Look At The Fair Value Of Frontier Digital Ventures Limited (ASX:FDV)

Jan 23
A Look At The Fair Value Of Frontier Digital Ventures Limited (ASX:FDV)
SEK
AU$22.92
SEEK
7D
0.3%
1Y
4.6%
NEC
AU$1.09
Nine Entertainment Holdings
7D
-7.2%
1Y
-19.0%

NEC: Radio Asset Review And Modest Assumption Shifts Will Guide Fair Outlook

Analysts have trimmed their fair value estimate for Nine Entertainment Holdings from A$1.22 to A$1.20, reflecting slightly higher discount rate assumptions and modest tweaks to revenue contraction, profit margin and future P/E settings. What's in the News Nine Entertainment has accepted final submissions from potential purchasers for its audio division, including 2GB, 3AW, 4BC and 6PR, following an extended expression of interest window that ran past the initial end of November deadline (Key Developments).
IGL
AU$3.03
IVE Group
7D
4.8%
1Y
42.9%
CAR
AU$29.70
CAR Group
7D
-2.1%
1Y
-25.2%

CAR: Future CFO Appointment Will Support Confidence In Earnings Trajectory

Analysts have trimmed their fair value estimate for CAR Group from A$39.99 to about A$39.33, citing slightly softer assumptions for revenue growth, profit margins, and a modestly higher discount rate, which was partly offset by a small upward adjustment to the future P/E multiple. What's in the News CAR Group Limited appointed Geoff Trumbull as Chief Financial Officer, effective 2 March 2026, bringing over 20 years of finance experience across industrial, infrastructure and consumer sectors (Key Developments).
REA
AU$187.13
REA Group
7D
-0.7%
1Y
-22.4%

REA: Higher Discount Rate And Leadership Change Will Pressure Premium Valuation

Analysts have reduced their fair value estimate for REA Group from A$178.60 to A$168.40, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Chief Financial Officer Janelle Hopkins plans to retire from REA Group on 11 February 2026 to move into a non executive career after more than seven years as CFO and over 25 years in executive roles (Key Developments).
TLS
AU$4.72
Telstra Group
7D
-2.1%
1Y
19.5%

TLS: Future Margins And Discount Rate Assumptions Will Shape Measured Upside Potential

Analysts have nudged their fair value estimate for Telstra Group slightly lower to A$4.93, reflecting updated assumptions around the discount rate, modest revenue growth and profit margin trends, while keeping future P/E expectations broadly steady. Analyst Commentary Recent Street research on a peer company, Telos, has centered on earnings quality and guidance revisions, which can be useful context when you think about how analysts frame valuation and execution risk for Telstra Group.
TPG
AU$3.94
TPG Telecom
7D
0.3%
1Y
-7.9%

TPG: Upcoming Capital Raises And Special Dividend Will Support Future Upside

Analysts have reduced their price target on TPG Telecom from A$4.75 to A$4.51, citing slightly softer assumptions on profit margins, revenue trends and future P/E multiples as the main reasons for the change. What's in the News TPG Telecom completed a follow on equity offering of A$73.4 million through a rights issue of 20,585,238 ordinary shares at A$3.57 per share, described as a Rights Offering (company event filing).
SXL
AU$0.70
Southern Cross Media Group
7D
-7.3%
1Y
16.7%
SHO
AU$0.061
SportsHero
7D
29.8%
1Y
221.1%
TUA
AU$7.64
Tuas
7D
2.6%
1Y
23.0%

Tuas Limited's (ASX:TUA) Earnings Haven't Escaped The Attention Of Investors

Jan 06
Tuas Limited's (ASX:TUA) Earnings Haven't Escaped The Attention Of Investors
RMY
AU$0.054
RMA Global
7D
10.2%
1Y
31.7%

A Piece Of The Puzzle Missing From RMA Global Limited's (ASX:RMY) 26% Share Price Climb

Dec 04
A Piece Of The Puzzle Missing From RMA Global Limited's (ASX:RMY) 26% Share Price Climb
ABB
AU$4.69
Aussie Broadband
7D
-1.3%
1Y
28.5%

Is Aussie Broadband Limited (ASX:ABB) Trading At A 49% Discount?

Nov 27
Is Aussie Broadband Limited (ASX:ABB) Trading At A 49% Discount?
SLC
AU$2.42
Superloop
7D
2.1%
1Y
15.8%

Superloop Limited (ASX:SLC) Shares Slammed 26% But Getting In Cheap Might Be Difficult Regardless

Nov 22
Superloop Limited (ASX:SLC) Shares Slammed 26% But Getting In Cheap Might Be Difficult Regardless