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Australian (ASX) Telecom Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies42
  • 7D-0.7%
  • 3M-5.1%
  • 1Y-4.6%
  • YTD-3.5%

In the last week, the Telecom industry is up 1.4%, with REA Group up 1.9%. However, the industry is down 3.1% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026AU$116.1bAU$42.1bAU$3.3b29.9x35.3x2.8x
Thu, 05 Feb 2026AU$116.3bAU$42.2bAU$3.4b34.8x34x2.8x
Sat, 03 Jan 2026AU$120.2bAU$43.5bAU$3.4b35.5x35x2.8x
Mon, 01 Dec 2025AU$124.0bAU$43.5bAU$3.4b36x36.1x2.9x
Wed, 29 Oct 2025AU$133.9bAU$43.5bAU$3.4b40.3x39x3.1x
Fri, 26 Sep 2025AU$133.6bAU$43.6bAU$3.4b42.5x38.9x3.1x
Sun, 24 Aug 2025AU$143.0bAU$44.2bAU$3.1b42.2x45.6x3.2x
Tue, 22 Jul 2025AU$137.4bAU$44.4bAU$2.2b35.5x61.3x3.1x
Thu, 19 Jun 2025AU$136.4bAU$44.4bAU$2.2b36.9x60.8x3.1x
Sat, 17 May 2025AU$131.8bAU$44.4bAU$2.2b39.7x58.8x3x
Mon, 14 Apr 2025AU$125.6bAU$44.4bAU$2.2b39.6x56x2.8x
Wed, 12 Mar 2025AU$123.6bAU$44.4bAU$2.2b33.1x55.3x2.8x
Fri, 07 Feb 2025AU$125.3bAU$43.9bAU$1.9b23.7x65.9x2.9x
Sun, 05 Jan 2025AU$122.5bAU$44.0bAU$1.9b24.8x64.8x2.8x
Tue, 03 Dec 2024AU$126.0bAU$44.0bAU$1.9b24.2x66.7x2.9x
Thu, 31 Oct 2024AU$119.7bAU$44.0bAU$1.9b23.1x63.3x2.7x
Sat, 28 Sep 2024AU$117.4bAU$44.0bAU$1.9b24.7x63.1x2.7x
Mon, 26 Aug 2024AU$118.5bAU$43.9bAU$2.1b23.6x57.3x2.7x
Wed, 24 Jul 2024AU$113.5bAU$43.6bAU$2.8b23x40x2.6x
Fri, 21 Jun 2024AU$109.9bAU$43.6bAU$2.8b23x38.6x2.5x
Sun, 19 May 2024AU$111.0bAU$43.6bAU$2.8b27.3x39x2.5x
Tue, 16 Apr 2024AU$109.9bAU$43.6bAU$2.9b29x38.1x2.5x
Thu, 14 Mar 2024AU$114.3bAU$43.5bAU$2.9b31.4x39.6x2.6x
Sat, 10 Feb 2024AU$117.1bAU$43.0bAU$3.2b21.8x36x2.7x
Mon, 08 Jan 2024AU$115.9bAU$43.2bAU$3.4b20.9x34.4x2.7x
Wed, 06 Dec 2023AU$109.2bAU$43.2bAU$3.4b20x32.4x2.5x
Fri, 03 Nov 2023AU$109.2bAU$43.2bAU$3.4b21.4x32.4x2.5x
Sun, 01 Oct 2023AU$110.7bAU$43.2bAU$3.4b19.9x32.8x2.6x
Tue, 29 Aug 2023AU$113.5bAU$43.0bAU$3.3b18.9x34.2x2.6x
Thu, 27 Jul 2023AU$115.9bAU$42.4bAU$3.3b20.8x35.3x2.7x
Sat, 24 Jun 2023AU$111.6bAU$42.4bAU$3.3b19.1x34x2.6x
Mon, 22 May 2023AU$115.0bAU$42.4bAU$3.3b21.2x35x2.7x
Wed, 19 Apr 2023AU$114.1bAU$42.4bAU$3.3b22.6x34.8x2.7x
Fri, 17 Mar 2023AU$107.5bAU$42.4bAU$3.3b21.7x32.8x2.5x
Price to Earnings Ratio

32.8x


Total Market Cap: AU$107.5bTotal Earnings: AU$3.3bTotal Revenue: AU$42.4bTotal 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 36.1x 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 2.8x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Communication Services industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

AU Market-6.36%
Telecom-0.71%
Interactive Media and Services1.68%
Wireless Telecom0%0
Telecom Services and Carriers-1.44%
Entertainment-6.64%
Media-7.17%
Industry PE
  • Investors are most optimistic about the Interactive Media and Services industry, which is trading close to its 3-year average PE ratio of 59.6x.
    • Analysts are expecting annual earnings growth of 20.6%, which is higher than its past year's earnings growth of 11.6% 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 Interactive Media and Services industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 8.4% 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
REA REA GroupAU$171.165.9%
+AU$1.3b		-27.1%PE39.4x
CAR CAR GroupAU$26.034.2%
+AU$393.6m		-25.1%PE33.4x
SLC SuperloopAU$2.972.8%
+AU$41.2m		44.9%PE108.4x
TUA TuasAU$6.311.1%
+AU$38.4m		1.0%PE452.4x
SEK SEEKAU$15.830.4%
+AU$21.4m		-30.7%PS4.7x

Latest News

SEK
AU$15.83
SEEK
7D
0.4%
1Y
-30.7%
EVT
AU$12.45
EVT
7D
-2.7%
1Y
-10.2%

EVT: Dividend Clarity And Higher P/E Assumptions Will Support Future Share Performance

Analysts have nudged their price target for EVT slightly higher to A$17.31 from A$17.30, reflecting updated assumptions around discount rates, revenue growth, profit margins, and a marginally higher future P/E. What's in the News EVT Limited declared a fully franked ordinary dividend of A$0.18 per security for the six months ended December 31, 2025, giving investors clarity on the latest payout level (Key Developments).
FDV
AU$0.29
Frontier Digital Ventures
7D
16.0%
1Y
41.5%
NEC
AU$0.92
Nine Entertainment Holdings
7D
-7.5%
1Y
-42.7%

NEC: Radio Asset Sale And Dividend Outlook Will Support Future Upside

Analysts have trimmed their price target on Nine Entertainment Holdings to A$1.41 from A$1.45. This reflects updated assumptions around a lower discount rate, a smaller projected revenue decline, a higher profit margin, and a reduced future P/E multiple.
FTI
AU$0.45
Fortifai
7D
-8.2%
1Y
1,185.7%
CAR
AU$26.03
CAR Group
7D
4.2%
1Y
-25.1%

CAR: Upcoming Dividend And Stable Outlook Will Support Bullish Earnings Confidence

Analysts have made a modest adjustment to their valuation on CAR Group, trimming the A$ fair value price target slightly as updated assumptions for discount rate, long run revenue growth, profit margins and future P/E multiples lead to a largely unchanged overall outlook. What's in the News CAR Group Limited declared an ordinary dividend of A$0.425 per share for the six months ended December 31, 2025 (Key Developments).
SXL
AU$0.64
Southern Cross Media Group
7D
3.2%
1Y
-5.2%
SEG
AU$0.26
Sports Entertainment Group
7D
13.3%
1Y
18.6%
REA
AU$171.16
REA Group
7D
5.9%
1Y
-27.1%

REA: Share Buyback And Dividend Policy Will Support Future Upside

Analysts have adjusted their fair value estimate for REA Group from A$290.00 to A$253.00, reflecting updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples following mixed recent research views. Analyst Commentary Recent research on REA Group has been mixed, with an upgrade from JPMorgan and a downgrade from another major firm occurring in close succession.
TLS
AU$5.17
Telstra Group
7D
-0.8%
1Y
26.4%

TLS: Future Returns Will Depend On Buybacks Dividends And P/E Support

Analysts have raised their price target on Telstra Group to A$5.21 from A$4.97, reflecting updated views on revenue growth, profit margins and future P/E assumptions. What's in the News Telstra Group announced an increase in its equity buyback authority by A$250 million on February 19, 2026, bringing the total authorization to A$1.25 billion (Key Developments).
TPG
AU$3.94
TPG Telecom
7D
-2.7%
1Y
-12.1%

TPG: Equity Raising And Higher P/E Assumptions Will Shape Future Returns

Analysts have reduced their price target for TPG Telecom from A$4.28 to A$4.11. This reflects updated views on revenue growth, profit margins and a higher future P/E assumption, supported by a slightly lower discount rate.
IGL
AU$2.84
IVE Group
7D
-2.7%
1Y
27.9%
HPG
AU$0.78
hipages Group Holdings
7D
-7.7%
1Y
-25.0%
OML
AU$0.94
oOh!media
7D
-5.5%
1Y
-38.6%

OML: Higher Required Returns And Upcoming Dividend Will Support Future Upside

The analyst price target for oOh!media has shifted from A$1.66 to A$1.49, with analysts pointing to updated assumptions for discount rates, revenue growth, profit margins and the future P/E as the key drivers of this adjustment. What's in the News The Board of oOh!media has declared a fully franked dividend of A$0.040 per ordinary share for the six months ended 31 December 2025, providing cash returns to shareholders for that period (Key Developments).
SLC
AU$2.97
Superloop
7D
2.8%
1Y
44.9%
TUA
AU$6.31
Tuas
7D
1.1%
1Y
1.0%

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