Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Telecom Sector Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies42
  • 7D-2.4%
  • 3M-11.3%
  • 1Y-4.9%
  • YTD-3.3%

Over the last 7 days, the Telecom industry has dropped 1.1%, driven by a pullback from REA Group of 6.8%. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 12 Feb 2023AU$107.7bAU$40.3bAU$3.0b35.9x35.9x2.7x
Price to Earnings Ratio

35.9x


Total Market Cap: AU$107.7bTotal 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 34.9x 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 4.5% 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-0.62%
Telecom-2.41%
Media3.70%
Telecom Services and Carriers1.63%
Entertainment0.93%
Wireless Telecom0%0
Interactive Media and Services-9.25%
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 19.9%, 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 20% 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
TLS Telstra GroupAU$4.932.5%
+AU$1.3b		25.1%PE25.5x
NEC Nine Entertainment HoldingsAU$1.2110.0%
+AU$174.2m		-7.3%PE18.4x
TPG TPG TelecomAU$3.921.0%
+AU$78.4m		-10.9%PS1.4x
FTI FortifaiAU$0.24-7.5%
AU$35.0m		512.5%PS17.2x
BBL Brisbane BroncosAU$1.857.9%
+AU$13.2m		96.8%PE24.3x

Latest News

A1N
AU$0.40
ARN Media
7D
8.2%
1Y
-38.8%
REA
AU$177.75
REA Group
7D
-6.8%
1Y
-29.4%

REA: Mixed Broker Views And CFO Transition Will Test Market Premium

Analysts have modestly reduced their fair value estimate for REA Group from A$168.40 to A$164.17, as updated assumptions on revenue growth, profit margins and future P/E are incorporated following recent mixed research views from major brokers. Analyst Commentary Recent research on REA Group has been mixed, with at least one major broker, JPMorgan, taking a more constructive stance while other bearish analysts have become more cautious.
TLS
AU$4.93
Telstra Group
7D
2.5%
1Y
25.1%

TLS: Modest Model Tweaks Will Shape Future Margins And Measured Upside

Analysts have nudged their price target for Telstra Group slightly higher to about A$4.97 from A$4.93, citing modest model updates that reflect small adjustments to discount rates, revenue growth assumptions, profit margins, and future P/E expectations. Analyst Commentary Recent Street research on a different company in the broader telecom and technology space highlights what bullish and cautious analysts tend to focus on when they revisit models and targets.
NEC
AU$1.21
Nine Entertainment Holdings
7D
10.0%
1Y
-7.3%

What Does Nine Entertainment Co. Holdings Limited's (ASX:NEC) Share Price Indicate?

Feb 02
What Does Nine Entertainment Co. Holdings Limited's (ASX:NEC) Share Price Indicate?
TPG
AU$3.92
TPG Telecom
7D
1.0%
1Y
-10.9%

TPG: Equity Raisings And Special Dividend Will Support Balanced Future Returns

Analysts have trimmed their price target for TPG Telecom to A$4.26 from A$4.51, citing slightly lower fair value estimates along with modestly softer assumptions for long term revenue growth, profit margins and future P/E multiples. What's in the News TPG Telecom completed a follow on equity offering totaling A$73.42 million through a rights issue of 20,585,238 ordinary shares at A$3.566623 per share (company filing).
ABB
AU$4.35
Aussie Broadband
7D
-6.5%
1Y
14.5%
EVT
AU$12.70
EVT
7D
0.3%
1Y
9.0%
SEK
AU$19.26
SEEK
7D
-13.3%
1Y
-16.4%

SEK: Higher Discount Rate Will Still Support Bullish Earnings Multiple Outlook

Narrative Update on SEEK Analysts have trimmed their price target on SEEK to about A$29.74 from A$30.28 as they factor in slightly higher discount rates, a modestly lower revenue growth outlook, a small adjustment to profit margin assumptions, and a marginally higher future P/E multiple. Valuation Changes Fair Value: reduced slightly from A$30.28 to about A$29.74, reflecting modest model adjustments.
SLC
AU$2.26
Superloop
7D
-4.2%
1Y
2.7%
CAR
AU$25.68
CAR Group
7D
-12.2%
1Y
-36.3%

Estimating The Fair Value Of CAR Group Limited (ASX:CAR)

Jan 26
Estimating The Fair Value Of CAR Group Limited (ASX:CAR)
OML
AU$1.26
oOh!media
7D
-3.5%
1Y
7.3%

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.
PLY
AU$0.29
PlaySide Studios
7D
7.4%
1Y
34.9%

PLY: New CFO Appointment Will Support Margins As Revenue Tops A$49 Million

Analysts have kept their fair value estimate for PlaySide Studios steady at A$0.52 per share, with only very small tweaks to inputs like the discount rate and expected future P/E guiding their updated price target narrative. What's in the News PlaySide Studios has appointed Colin Lai as Chief Financial Officer, effective March 2, 2026.
SXL
AU$0.63
Southern Cross Media Group
7D
-4.5%
1Y
3.3%
TUA
AU$7.02
Tuas
7D
-4.0%
1Y
4.9%

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
BBL
AU$1.85
Brisbane Broncos
7D
7.9%
1Y
96.8%

Further Upside For Brisbane Broncos Limited (ASX:BBL) Shares Could Introduce Price Risks After 32% Bounce

Nov 25
Further Upside For Brisbane Broncos Limited (ASX:BBL) Shares Could Introduce Price Risks After 32% Bounce
FTI
AU$0.24
Fortifai
7D
-7.5%
1Y
512.5%