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Australian (ASX) Telecom Sector Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies42
  • 7D3.1%
  • 3M-7.6%
  • 1Y-6.4%
  • YTD-4.2%

In the last week, the Telecom industry is up 3.1%, with Telstra Group up 3.4%. In contrast, the industry has lost 6.4% in the last 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026AU$115.2bAU$42.5bAU$3.1b35.8x36.7x2.7x
Wed, 21 Jan 2026AU$118.9bAU$42.2bAU$3.4b36.3x34.8x2.8x
Fri, 19 Dec 2025AU$119.3bAU$43.5bAU$3.4b35.3x34.7x2.7x
Sun, 16 Nov 2025AU$124.7bAU$43.5bAU$3.4b36.4x36.3x2.9x
Tue, 14 Oct 2025AU$130.9bAU$43.6bAU$3.4b39.9x38.1x3x
Thu, 11 Sep 2025AU$135.9bAU$43.5bAU$3.4b42x39.6x3.1x
Sat, 09 Aug 2025AU$138.7bAU$44.4bAU$2.5b35.6x55.6x3.1x
Mon, 07 Jul 2025AU$134.8bAU$44.4bAU$2.2b35.6x60.1x3x
Wed, 04 Jun 2025AU$135.8bAU$44.4bAU$2.2b41.8x60.6x3.1x
Fri, 02 May 2025AU$130.2bAU$44.4bAU$2.2b40.9x58.1x2.9x
Sun, 30 Mar 2025AU$123.1bAU$44.4bAU$2.2b41.9x54.9x2.8x
Tue, 25 Feb 2025AU$126.7bAU$44.2bAU$2.4b32.5x53.5x2.9x
Thu, 23 Jan 2025AU$122.3bAU$44.0bAU$1.9b24.1x64.7x2.8x
Sat, 21 Dec 2024AU$120.3bAU$44.0bAU$1.9b24.1x63.6x2.7x
Mon, 18 Nov 2024AU$124.0bAU$44.0bAU$1.9b23.5x65.6x2.8x
Wed, 16 Oct 2024AU$120.8bAU$44.0bAU$1.9b25.8x63.9x2.7x
Fri, 13 Sep 2024AU$116.2bAU$44.0bAU$1.9b21.1x62.5x2.6x
Sun, 11 Aug 2024AU$113.1bAU$43.8bAU$2.9b23.3x39.5x2.6x
Tue, 09 Jul 2024AU$109.6bAU$43.6bAU$2.8b22x38.6x2.5x
Thu, 06 Jun 2024AU$109.3bAU$43.6bAU$2.8b23.6x38.4x2.5x
Sat, 04 May 2024AU$108.8bAU$43.6bAU$2.8b30.3x38.3x2.5x
Mon, 01 Apr 2024AU$114.6bAU$43.6bAU$2.9b30.5x39.7x2.6x
Wed, 28 Feb 2024AU$115.5bAU$43.5bAU$2.9b29.8x39.8x2.7x
Fri, 26 Jan 2024AU$119.3bAU$43.2bAU$3.4b21.9x35.4x2.8x
Sun, 24 Dec 2023AU$117.2bAU$43.2bAU$3.4b20.9x34.7x2.7x
Tue, 21 Nov 2023AU$109.9bAU$43.2bAU$3.4b21.7x32.6x2.5x
Thu, 19 Oct 2023AU$112.2bAU$43.2bAU$3.4b20.9x33.3x2.6x
Sat, 16 Sep 2023AU$112.9bAU$43.2bAU$3.4b19.9x33.6x2.6x
Mon, 14 Aug 2023AU$116.6bAU$42.0bAU$3.3b19.8x35.8x2.8x
Wed, 12 Jul 2023AU$112.6bAU$42.4bAU$3.3b21.6x34.3x2.7x
Fri, 09 Jun 2023AU$111.2bAU$42.4bAU$3.3b20.2x33.9x2.6x
Sun, 07 May 2023AU$113.8bAU$42.4bAU$3.3b20.6x34.7x2.7x
Tue, 04 Apr 2023AU$111.6bAU$42.4bAU$3.3b21.9x34x2.6x
Thu, 02 Mar 2023AU$107.1bAU$42.3bAU$3.7b25.6x29.1x2.5x
Price to Earnings Ratio

29.1x


Total Market Cap: AU$107.1bTotal Earnings: AU$3.7bTotal Revenue: AU$42.3bTotal 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 36.7x 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 declined 5.1% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

AU Market1.85%
Telecom3.06%
Entertainment7.73%
Telecom Services and Carriers3.54%
Interactive Media and Services2.18%
Wireless Telecom0%0
Media-0.56%
Industry PE
  • Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 197x.
    • Analysts are expecting annual earnings growth of 20.2%, 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 of 0.093x.
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 2.2% 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$5.113.4%
+AU$1.9b		23.1%PE25.3x
REA REA GroupAU$162.002.5%
+AU$516.1m		-31.4%PE37.3x
SLC SuperloopAU$2.7617.9%
+AU$216.2m		26.0%PE100.8x
TPG TPG TelecomAU$3.902.6%
+AU$195.9m		-12.9%PS1.4x
SEK SEEKAU$16.272.7%
+AU$160.6m		-36.0%PS4.8x

Latest News

OML
AU$1.08
oOh!media
7D
-3.6%
1Y
-16.3%
SLC
AU$2.76
Superloop
7D
17.9%
1Y
26.0%
NEC
AU$1.07
Nine Entertainment Holdings
7D
-2.3%
1Y
-38.2%

NEC: Future Returns Will Be Driven By Radio Asset Divestment

Analysts have lifted their fair value estimate for Nine Entertainment Holdings from A$2.08 to A$2.16, citing updated assumptions around discount rates, slightly softer revenue expectations, a modestly higher profit margin, and a small adjustment to future P/E multiples. What's in the News Nine Entertainment has accepted final submissions from potential purchasers for its audio division, including 2GB, 3AW, 4BC and 6PR, after keeping the expressions of interest window open an extra two weeks to accommodate late bids.
CAR
AU$25.44
CAR Group
7D
1.5%
1Y
-31.6%
TLS
AU$5.11
Telstra Group
7D
3.4%
1Y
23.1%
SEK
AU$16.27
SEEK
7D
2.7%
1Y
-36.0%
ART
AU$0.26
Airtasker
7D
-7.3%
1Y
-32.9%
REA
AU$162.00
REA Group
7D
2.5%
1Y
-31.4%

REA: Mixed Broker Calls Will Set Stage For Future Rerating

Analysts have adjusted their fair value estimate for REA Group from about A$243.58 to A$212.09, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E expectations based on recent mixed broker research. Analyst Commentary Recent broker moves around REA Group highlight that views are mixed, even as the updated fair value estimate now sits at about A$212.09.
TPG
AU$3.90
TPG Telecom
7D
2.6%
1Y
-12.9%

TPG: Recent Equity Raisings Will Support Higher Future Share Returns

Analysts have nudged their price target for TPG Telecom slightly higher to A$4.28 from A$4.26. This reflects updated assumptions around discount rates, modest revenue contraction, profit margins and a higher future P/E multiple.
ABB
AU$5.23
Aussie Broadband
7D
6.7%
1Y
36.6%
HPG
AU$0.98
hipages Group Holdings
7D
-6.2%
1Y
-17.2%

HPG: Stable Fair Value And Refined Assumptions Will Support Future Upside

Analysts have kept their fair value estimate for hipages Group Holdings steady at A$2.80 per share, citing only minor tweaks to modelling assumptions. These include a slightly higher discount rate, modestly adjusted revenue growth and profit margin inputs, and a small change to the future P/E multiple.
EVT
AU$13.22
EVT
7D
5.2%
1Y
9.9%

EVT: Refined Risk And Earnings Assumptions Will Support Strong Future Share Performance

Analysts have modestly adjusted their price target on EVT. The updated fair value estimate remains at $17.30, as slightly higher assumed discount rates and revenue growth, along with a small change in future P/E, refine their view on the stock's risk and earnings profile.
IGL
AU$3.11
IVE Group
7D
-0.3%
1Y
41.4%
RMY
AU$0.045
RMA Global
7D
-15.1%
1Y
15.4%

A Piece Of The Puzzle Missing From RMA Global Limited's (ASX:RMY) 26% Share Price Climb

Dec 04
A Piece Of The Puzzle Missing From RMA Global Limited's (ASX:RMY) 26% Share Price Climb
UNT
AU$0.007
Unith
7D
-12.5%
1Y
-50.0%
FRX
AU$0.023
FlexiRoam
7D
-4.2%
1Y
283.3%