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Australian (ASX) Telecom Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies41
  • 7D2.5%
  • 3M0.8%
  • 1Y-2.5%
  • YTD-0.3%

In the last week, the Telecom industry is up 2.6%, with REA Group up 12%. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026AU$119.5bAU$42.1bAU$3.3b27.6x36.3x2.8x
Thu, 19 Mar 2026AU$115.1bAU$42.1bAU$3.3b29.4x35x2.7x
Sat, 14 Feb 2026AU$111.7bAU$42.3bAU$3.3b32.1x33.5x2.6x
Mon, 12 Jan 2026AU$119.5bAU$42.2bAU$3.4b36.3x35x2.8x
Wed, 10 Dec 2025AU$122.3bAU$43.5bAU$3.4b35.8x35.6x2.8x
Fri, 07 Nov 2025AU$130.7bAU$43.5bAU$3.4b38.3x38x3x
Sun, 05 Oct 2025AU$134.4bAU$43.6bAU$3.4b41.6x39.1x3.1x
Tue, 02 Sep 2025AU$138.6bAU$43.5bAU$3.4b43.4x40.4x3.2x
Thu, 31 Jul 2025AU$137.6bAU$44.4bAU$2.4b35.6x56.6x3.1x
Sat, 28 Jun 2025AU$135.2bAU$44.4bAU$2.2b35.3x60.3x3x
Mon, 26 May 2025AU$135.4bAU$44.4bAU$2.2b40.1x60.4x3x
Wed, 23 Apr 2025AU$124.9bAU$44.4bAU$2.2b37.7x55.7x2.8x
Fri, 21 Mar 2025AU$124.6bAU$44.4bAU$2.2b34.6x55.8x2.8x
Sun, 16 Feb 2025AU$126.7bAU$44.0bAU$2.2b29.2x57.7x2.9x
Tue, 14 Jan 2025AU$121.5bAU$44.0bAU$1.9b24.4x64.3x2.8x
Thu, 12 Dec 2024AU$124.5bAU$44.0bAU$1.9b24.4x65.9x2.8x
Sat, 09 Nov 2024AU$121.2bAU$44.0bAU$1.9b23.6x64.1x2.8x
Mon, 07 Oct 2024AU$118.6bAU$44.0bAU$1.9b24.2x62.7x2.7x
Wed, 04 Sep 2024AU$117.6bAU$44.0bAU$1.9b20.9x63.4x2.7x
Fri, 02 Aug 2024AU$116.1bAU$43.6bAU$2.8b23.5x40.9x2.7x
Sun, 30 Jun 2024AU$110.7bAU$43.6bAU$2.8b22.7x38.9x2.5x
Tue, 28 May 2024AU$108.6bAU$43.6bAU$2.8b24.9x38.2x2.5x
Thu, 25 Apr 2024AU$109.8bAU$43.6bAU$2.9b29x38.1x2.5x
Sat, 23 Mar 2024AU$113.3bAU$43.6bAU$2.9b30.6x39.2x2.6x
Mon, 19 Feb 2024AU$115.0bAU$43.3bAU$2.8b25.1x40.7x2.7x
Wed, 17 Jan 2024AU$117.9bAU$43.2bAU$3.4b21.9x35x2.7x
Fri, 15 Dec 2023AU$112.0bAU$43.2bAU$3.4b19.5x33.2x2.6x
Sun, 12 Nov 2023AU$111.5bAU$43.2bAU$3.4b21x33.1x2.6x
Tue, 10 Oct 2023AU$109.6bAU$43.2bAU$3.4b20.4x32.5x2.5x
Thu, 07 Sep 2023AU$113.6bAU$43.2bAU$3.4b22.1x33.8x2.6x
Sat, 05 Aug 2023AU$115.5bAU$42.0bAU$3.3b19.8x35.3x2.7x
Mon, 03 Jul 2023AU$113.0bAU$42.4bAU$3.3b21.5x34.4x2.7x
Wed, 31 May 2023AU$114.6bAU$42.4bAU$3.3b20.4x34.9x2.7x
Fri, 28 Apr 2023AU$114.9bAU$42.4bAU$3.3b23.1x35x2.7x
Price to Earnings Ratio

35x


Total Market Cap: AU$114.9bTotal Earnings: AU$3.3bTotal Revenue: AU$42.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Telecom Sector Price to Earnings3Y Average 44.4x202420252026
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 36.3x which is lower than its 3-year average PE of 44.4x.
  • 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 Market0.77%
Telecom2.46%
Interactive Media and Services10.36%
Entertainment1.77%
Wireless Telecom0%0
Media-0.87%
Telecom Services and Carriers-1.05%
Industry PE
  • Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 199x.
    • Analysts are expecting annual earnings growth of 19.6%, which is lower than the prior year's growth of 194.7% 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 20% 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 9.0% 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$174.3511.7%
+AU$2.4b		-27.4%PE40x
CAR CAR GroupAU$25.8710.5%
+AU$931.1m		-20.8%PE33.2x
SEK SEEKAU$15.445.2%
+AU$271.3m		-24.1%PS4.6x
ABB Aussie BroadbandAU$5.449.0%
+AU$132.0m		40.6%PE62x
SLC SuperloopAU$3.405.3%
+AU$87.5m		48.5%PE124.1x

Latest News

REA
AU$174.35
REA Group
7D
11.7%
1Y
-27.4%
TLS
AU$5.34
Telstra Group
7D
-1.8%
1Y
20.5%

TLS: Future Returns Will Rely On Buybacks Dividends And Sentiment Resilience

Analysts have made a small adjustment to Telstra Group's price target, reflecting largely unchanged fair value estimates with only minor tweaks to assumptions such as discount rate, long term revenue growth, profit margin and future P/E, following recent sector wide software volatility rather than company specific drivers. Analyst Commentary Recent Street research on a peer name in the software and security space shows that price target changes can sit alongside relatively steady views on business quality and long term prospects.
NEC
AU$0.98
Nine Entertainment Holdings
7D
-2.5%
1Y
-27.4%

NEC: Upcoming Dividend And Meeting Will Support Fairly Positive Outlook

Analysts have reduced their price target for Nine Entertainment Holdings from A$1.20 to A$1.13, citing updated assumptions for revenue trends, profit margins and a lower forecast P/E multiple. What's in the News Nine Entertainment Holdings has scheduled a Special or Extraordinary Shareholders Meeting for May 21, 2026, at ground floor, 1 Denison Street, North Sydney, NSW 2060, Australia (Key Developments).
GTN
AU$0.20
GTN
7D
-9.9%
1Y
-65.8%
CAR
AU$25.87
CAR Group
7D
10.5%
1Y
-20.8%

CAR: Upcoming Dividend And Steady Assumptions Will Support Bullish Earnings Confidence

Analysts have adjusted their fair value estimate for CAR Group from A$35.36 to A$34.60, reflecting slightly revised assumptions around the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News CAR Group declared an ordinary dividend of A$0.425 per share for the six months ended December 31, 2025, outlining the next payout amount (Key Developments).
BBL
AU$1.65
Brisbane Broncos
7D
-8.3%
1Y
66.7%
SEK
AU$15.44
SEEK
7D
5.2%
1Y
-24.1%

AI And Data Flywheel Will Drive Freemium Adoption And Earnings Quality Tailwinds

Catalysts About SEEK SEEK operates online employment marketplaces across APAC, connecting candidates and hirers and providing data driven recruitment and HR solutions. What are the underlying business or industry changes driving this perspective?
TPG
AU$4.32
TPG Telecom
7D
0.9%
1Y
-11.1%

TPG: Fair Outlook Will Rely On Refined Discount Rate And P/E Assumptions

Analysts have nudged their price target for TPG Telecom higher to A$4.13. This is a small refinement that reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E, rather than a major shift in outlook.
PLY
AU$0.29
PlaySide Studios
7D
-1.7%
1Y
75.8%

PLY: Higher Margins And Revenue Assumptions Will Support Undervalued Profile

Analysts have maintained their A$0.52 price target on PlaySide Studios. The unchanged figure is backed by updated assumptions that indicate higher revenue growth, stronger profit margins and a lower future P/E multiple.
SLC
AU$3.40
Superloop
7D
5.3%
1Y
48.5%
ABB
AU$5.44
Aussie Broadband
7D
9.0%
1Y
40.6%
SEG
AU$0.23
Sports Entertainment Group
7D
-8.2%
1Y
-10.0%
TUA
AU$6.02
Tuas
7D
1.0%
1Y
11.5%
RLG
AU$0.003
RooLife Group
7D
-25.0%
1Y
-25.0%
FTI
AU$0.66
Fortifai
7D
20.0%
1Y
2,100.0%
SWP
AU$0.11
Swoop Holdings
7D
-12.0%
1Y
4.8%