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Australian (ASX) Telecom Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies42
  • 7D1.6%
  • 3M-9.1%
  • 1Y-2.4%
  • YTD-0.9%

The Telecom industry is up 1.6% in the last week, with REA Group up 5.0%. Overall in the last year, the industry is flat. 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, 29 Jan 2026AU$119.1bAU$42.2bAU$3.4b37.1x34.9x2.8x
Sat, 27 Dec 2025AU$119.6bAU$43.5bAU$3.4b35.1x34.8x2.7x
Mon, 24 Nov 2025AU$122.5bAU$43.5bAU$3.4b35.6x35.6x2.8x
Wed, 22 Oct 2025AU$133.2bAU$43.5bAU$3.4b40.2x38.8x3.1x
Fri, 19 Sep 2025AU$134.5bAU$43.5bAU$3.4b43.3x39.2x3.1x
Sun, 17 Aug 2025AU$138.7bAU$44.1bAU$3.0b28.7x46.9x3.1x
Tue, 15 Jul 2025AU$135.6bAU$44.4bAU$2.2b35.5x60.5x3.1x
Thu, 12 Jun 2025AU$135.8bAU$44.4bAU$2.2b40.8x60.6x3.1x
Sat, 10 May 2025AU$131.7bAU$44.4bAU$2.2b41.9x58.8x3x
Mon, 07 Apr 2025AU$121.8bAU$44.4bAU$2.2b38.3x54.4x2.7x
Wed, 05 Mar 2025AU$128.2bAU$44.4bAU$2.2b34.4x57.4x2.9x
Fri, 31 Jan 2025AU$124.8bAU$44.0bAU$1.9b23.9x66.1x2.8x
Sun, 29 Dec 2024AU$122.5bAU$44.0bAU$1.9b24.3x64.8x2.8x
Tue, 26 Nov 2024AU$124.4bAU$44.0bAU$1.9b23.5x65.8x2.8x
Thu, 24 Oct 2024AU$119.6bAU$44.0bAU$1.9b23.2x63.3x2.7x
Sat, 21 Sep 2024AU$117.0bAU$44.0bAU$1.9b24.5x63.1x2.7x
Mon, 19 Aug 2024AU$117.2bAU$43.9bAU$2.1b28.2x56.3x2.7x
Wed, 17 Jul 2024AU$114.4bAU$43.6bAU$2.8b22.5x40.2x2.6x
Fri, 14 Jun 2024AU$110.1bAU$43.6bAU$2.8b22.8x38.7x2.5x
Sun, 12 May 2024AU$111.0bAU$43.6bAU$2.8b30.2x39x2.5x
Tue, 09 Apr 2024AU$112.3bAU$43.6bAU$2.9b30x39x2.6x
Thu, 07 Mar 2024AU$113.8bAU$43.6bAU$2.9b31x39.5x2.6x
Sat, 03 Feb 2024AU$121.3bAU$43.2bAU$3.4b21.9x36x2.8x
Mon, 01 Jan 2024AU$118.5bAU$43.2bAU$3.4b20.9x35.1x2.7x
Wed, 29 Nov 2023AU$108.2bAU$43.2bAU$3.4b20x32.1x2.5x
Fri, 27 Oct 2023AU$107.1bAU$43.2bAU$3.4b20.9x31.8x2.5x
Sun, 24 Sep 2023AU$111.1bAU$43.2bAU$3.4b19.9x32.9x2.6x
Tue, 22 Aug 2023AU$113.2bAU$42.8bAU$3.6b18.1x31.6x2.6x
Thu, 20 Jul 2023AU$114.3bAU$42.4bAU$3.3b20.7x34.8x2.7x
Sat, 17 Jun 2023AU$113.9bAU$42.4bAU$3.3b20x34.7x2.7x
Mon, 15 May 2023AU$114.4bAU$42.4bAU$3.3b21.4x34.9x2.7x
Wed, 12 Apr 2023AU$113.8bAU$42.4bAU$3.3b22.6x34.7x2.7x
Fri, 10 Mar 2023AU$109.3bAU$42.4bAU$3.3b22.2x33.3x2.6x
Sun, 05 Feb 2023AU$110.7bAU$40.3bAU$3.0b38.8x36.7x2.7x
Price to Earnings Ratio

36.7x


Total Market Cap: AU$110.7bTotal 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 4.3% 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 Market1.54%
Telecom1.63%
Interactive Media and Services2.85%
Telecom Services and Carriers0.99%
Entertainment0.58%
Wireless Telecom0%0
Media-0.49%
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 20.1%, 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
TLS Telstra GroupAU$4.811.9%
+AU$1.0b		20.6%PE24.9x
REA REA GroupAU$189.001.7%
+AU$409.2m		-24.2%PE36.8x
IGL IVE GroupAU$2.994.5%
+AU$20.0m		37.2%PE9.9x
SHO SportsHeroAU$0.07628.8%
+AU$13.9m		280.0%PS1406.4x
SWP Swoop HoldingsAU$0.1633.3%
+AU$12.3m		-13.5%PS0.5x

Latest News

ABB
AU$4.60
Aussie Broadband
7D
-4.2%
1Y
18.9%
EVT
AU$12.34
EVT
7D
-3.4%
1Y
5.5%
FDV
AU$0.30
Frontier Digital Ventures
7D
3.4%
1Y
15.4%
CAR
AU$28.93
CAR Group
7D
-2.3%
1Y
-28.1%

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

Jan 26
Estimating The Fair Value Of CAR Group Limited (ASX:CAR)
SEK
AU$21.55
SEEK
7D
-4.6%
1Y
-7.3%
NEC
AU$1.09
Nine Entertainment Holdings
7D
-3.5%
1Y
-20.1%

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$2.99
IVE Group
7D
4.5%
1Y
37.2%
REA
AU$189.00
REA Group
7D
1.7%
1Y
-24.2%

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$4.81
Telstra Group
7D
1.9%
1Y
20.6%

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$3.86
TPG Telecom
7D
-2.0%
1Y
-11.7%

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$0.63
Southern Cross Media Group
7D
-8.7%
1Y
3.3%
RNT
AU$0.053
Rent.com.au
7D
6.0%
1Y
178.9%
SHO
AU$0.076
SportsHero
7D
28.8%
1Y
280.0%
SWP
AU$0.16
Swoop Holdings
7D
33.3%
1Y
-13.5%

Swoop Holdings Limited's (ASX:SWP) Shares Not Telling The Full Story

Jan 07
Swoop Holdings Limited's (ASX:SWP) Shares Not Telling The Full Story
TUA
AU$7.11
Tuas
7D
-3.9%
1Y
12.5%

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
STV
AU$0.011
Swift TV
7D
31.3%
1Y
-4.5%

Investors Aren't Buying Swift TV Ltd's (ASX:STV) Revenues

Dec 07
Investors Aren't Buying Swift TV Ltd's (ASX:STV) Revenues