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Australian (ASX) Telecom Sector Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies42
  • 7D1.6%
  • 3M-8.3%
  • 1Y-18.1%
  • YTD-8.7%

In the last week, the Telecom industry is up 2.4%, with REA Group up 9.7%. However, the industry is down 18% over the past year. 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
Wed, 22 Jul 2026AU$109.0bAU$42.2bAU$3.3b24.5x33.1x2.6x
Fri, 19 Jun 2026AU$108.7bAU$42.1bAU$3.3b30.5x33x2.6x
Sun, 17 May 2026AU$117.1bAU$42.1bAU$3.3b30x35.6x2.8x
Tue, 14 Apr 2026AU$116.7bAU$42.1bAU$3.3b27.1x35.4x2.8x
Thu, 12 Mar 2026AU$115.4bAU$42.1bAU$3.3b29.6x35.1x2.7x
Sat, 07 Feb 2026AU$113.1bAU$42.2bAU$3.4b32.7x33.1x2.7x
Mon, 05 Jan 2026AU$120.2bAU$43.5bAU$3.4b35.5x35x2.8x
Wed, 03 Dec 2025AU$122.5bAU$43.5bAU$3.4b35.8x35.7x2.8x
Fri, 31 Oct 2025AU$130.8bAU$43.5bAU$3.4b39x38.1x3x
Sun, 28 Sep 2025AU$133.3bAU$43.6bAU$3.4b42x38.8x3.1x
Tue, 26 Aug 2025AU$142.3bAU$44.2bAU$3.1b42x45.3x3.2x
Thu, 24 Jul 2025AU$137.0bAU$44.4bAU$2.2b35.3x61.1x3.1x
Sat, 21 Jun 2025AU$135.3bAU$44.4bAU$2.2b36.6x60.4x3x
Mon, 19 May 2025AU$131.8bAU$44.4bAU$2.2b39.7x58.8x3x
Wed, 16 Apr 2025AU$125.2bAU$44.4bAU$2.2b39.3x55.9x2.8x
Fri, 14 Mar 2025AU$122.1bAU$44.4bAU$2.2b33x54.5x2.8x
Sun, 09 Feb 2025AU$126.1bAU$44.0bAU$2.2b23.7x57x2.9x
Tue, 07 Jan 2025AU$122.3bAU$44.0bAU$1.9b24.7x64.7x2.8x
Thu, 05 Dec 2024AU$126.3bAU$44.0bAU$1.9b24.5x66.8x2.9x
Sat, 02 Nov 2024AU$118.8bAU$44.0bAU$1.9b23.3x62.9x2.7x
Mon, 30 Sep 2024AU$117.4bAU$44.0bAU$1.9b24.7x63.1x2.7x
Wed, 28 Aug 2024AU$119.5bAU$44.1bAU$2.1b22.8x58.3x2.7x
Fri, 26 Jul 2024AU$112.3bAU$43.6bAU$2.8b23.4x39.5x2.6x
Sun, 23 Jun 2024AU$111.3bAU$43.6bAU$2.8b23.1x39.1x2.6x
Tue, 21 May 2024AU$111.1bAU$43.6bAU$2.8b27.3x39.1x2.5x
Thu, 18 Apr 2024AU$108.6bAU$43.6bAU$2.9b29x37.7x2.5x
Sat, 16 Mar 2024AU$112.3bAU$43.6bAU$2.9b30.6x39x2.6x
Mon, 12 Feb 2024AU$117.1bAU$43.0bAU$3.2b21.8x36x2.7x
Wed, 10 Jan 2024AU$116.8bAU$43.2bAU$3.4b20.9x34.6x2.7x
Fri, 08 Dec 2023AU$111.5bAU$43.2bAU$3.4b20x33x2.6x
Sun, 05 Nov 2023AU$110.0bAU$43.2bAU$3.4b21.6x32.6x2.5x
Tue, 03 Oct 2023AU$110.4bAU$43.2bAU$3.4b19.9x32.7x2.6x
Thu, 31 Aug 2023AU$113.9bAU$43.2bAU$3.3b21x34.1x2.6x
Sat, 29 Jul 2023AU$117.1bAU$42.4bAU$3.3b21x35.7x2.8x
Price to Earnings Ratio

35.7x


Total Market Cap: AU$117.1bTotal 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 33.3x 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-0.20%
Telecom1.64%
Interactive Media and Services6.27%
Media0.31%
Wireless Telecom0%0
Telecom Services and Carriers-0.44%
Entertainment-5.58%
Industry PE
  • Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 202x.
    • Analysts are expecting annual earnings growth of 17.7%, 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 Entertainment industry, expecting annual earnings growth of 18% over the next 5 years.
  • 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$159.727.3%
+AU$1.4b		-32.8%PE36.4x
TLS Telstra GroupAU$4.961.4%
+AU$775.7m		0.8%PE24.2x
SLC SuperloopAU$3.265.2%
+AU$82.4m		5.2%PE119x
OML oOh!mediaAU$1.582.3%
+AU$17.0m		-9.7%PE45.4x
BBL Brisbane BroncosAU$1.407.3%
+AU$9.3m		37.4%PE17.6x

Latest News

SEK
AU$13.78
SEEK
7D
-1.9%
1Y
-43.3%
Narrative Update • Jul 18

SEK: AI And Asia Expansion Will Drive Future Earnings Rebound

Analysts have trimmed their price target for SEEK slightly to A$21.34 from A$22.33, reflecting updated assumptions for the discount rate, revenue growth, profit margins and future P/E multiples. What’s in the News for SEEK SEEK shares recently traded higher, with moves in a range between about 1.85% and just over 4%, as investors reacted to updates on the company’s recovery plans.
REA
AU$159.72
REA Group
7D
7.3%
1Y
-32.8%
TPG
AU$3.54
TPG Telecom
7D
-0.3%
1Y
-35.4%
Narrative Update • Jul 16

TPG: Analyst Day Signals Steady Outlook With Adjusted Margins And P/E

Analysts have adjusted their price target for TPG Telecom slightly higher to A$3.40 from A$3.30, reflecting updated assumptions around revenue growth, profit margins, the discount rate and the stock's future P/E multiple. What's in the News TPG Telecom held an Analyst/Investor Day, giving the market an opportunity to hear management discuss the business and outlook in more detail.
SXL
AU$0.51
Southern Cross Media Group
7D
-8.9%
1Y
-13.6%
CAR
AU$25.39
CAR Group
7D
-1.1%
1Y
-32.0%
SLC
AU$3.26
Superloop
7D
5.2%
1Y
5.2%
TLS
AU$4.96
Telstra Group
7D
1.4%
1Y
0.8%
EVT
AU$12.08
EVT
7D
-2.4%
1Y
-24.7%
BBL
AU$1.40
Brisbane Broncos
7D
7.3%
1Y
37.4%
OML
AU$1.58
oOh!media
7D
2.3%
1Y
-9.7%
Narrative Update • Jun 24

OML: Competing Takeover Offers Will Anchor A Measured Outlook

Analysts have adjusted their valuation view on oOh!media, with a slightly lower discount rate and a marginally reduced future P/E assumption. This has led to a modest change in the A$ fair value narrative, while the core A$1.58 target remains unchanged.
NEC
AU$0.97
Nine Entertainment Holdings
7D
0.5%
1Y
-42.6%
Narrative Update • Jun 16

NEC: Special Meeting And Refined Outlook Will Guide Fairly Balanced Prospects

Analysts have marginally increased their price target for Nine Entertainment Holdings to A$1.00 from A$0.97, citing minor changes to the discount rate, long-term revenue growth expectations, profit margin assumptions and the future P/E multiple in their models. What's in the News for Nine Entertainment Holdings Nine Entertainment Holdings has scheduled a Special and Extraordinary Shareholders Meeting for May 21, 2026, at 09:00 Eastern Australia Standard Time.
ABB
AU$4.79
Aussie Broadband
7D
-2.2%
1Y
13.8%
TUA
AU$2.20
Tuas
7D
-3.1%
1Y
-56.7%
FTI
AU$0.62
Fortifai
7D
-16.8%
1Y
287.5%
RLG
AU$0.003
RooLife Group
7D
50.0%
1Y
-14.3%
FRX
AU$0.025
FlexiRoam
7D
19.0%
1Y
316.7%