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Belgian (BEL20) Telecom Sector Analysis
UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies7
- 7D1.3%
- 3M11.0%
- 1Y25.8%
- YTD7.4%
In the last week, the Telecom industry is up 1.9%, with Proximus up 4.5%. This takes the industry's 12 month performance to a gain of 26%. As for the next few years, earnings are forecast to decline by 3.1% per annum.
Sector Valuation and Performance
Has the Belgian Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 17 Feb 2026 | €4.9b | €9.2b | €563.3m | 23.5x | 8.7x | 0.5x |
| Thu, 15 Jan 2026 | €4.5b | €9.2b | €559.3m | 25.3x | 8.1x | 0.5x |
| Sat, 13 Dec 2025 | €4.5b | €9.2b | €559.3m | 25.6x | 8x | 0.5x |
| Mon, 10 Nov 2025 | €4.5b | €9.3b | €655.3m | 25.8x | 6.8x | 0.5x |
| Wed, 08 Oct 2025 | €4.7b | €9.3b | €655.3m | 25.9x | 7.1x | 0.5x |
| Fri, 05 Sep 2025 | €4.7b | €9.3b | €655.3m | 26.2x | 7.2x | 0.5x |
| Sun, 03 Aug 2025 | €4.8b | €9.3b | €652.9m | 27.7x | 7.3x | 0.5x |
| Tue, 01 Jul 2025 | €5.0b | €9.4b | €552.7m | 27.7x | 9x | 0.5x |
| Thu, 29 May 2025 | €4.6b | €9.4b | €552.7m | 27x | 8.4x | 0.5x |
| Sat, 26 Apr 2025 | €4.1b | €9.3b | €515.7m | 26.2x | 8x | 0.4x |
| Mon, 24 Mar 2025 | €4.3b | €9.3b | €510.7m | 28.4x | 8.3x | 0.5x |
| Wed, 19 Feb 2025 | €3.9b | €9.1b | €524.2m | 27.2x | 7.4x | 0.4x |
| Fri, 17 Jan 2025 | €3.8b | €9.1b | €504.6m | 28x | 7.5x | 0.4x |
| Sun, 15 Dec 2024 | €3.7b | €9.1b | €504.6m | 26.8x | 7.4x | 0.4x |
| Tue, 12 Nov 2024 | €4.4b | €9.1b | €504.6m | 27.9x | 8.6x | 0.5x |
| Thu, 10 Oct 2024 | €4.4b | €9.0b | €403.6m | 28.2x | 11x | 0.5x |
| Sat, 07 Sep 2024 | €4.4b | €9.0b | €403.6m | 28x | 11x | 0.5x |
| Mon, 05 Aug 2024 | €4.2b | €9.0b | €421.1m | 37.2x | 10x | 0.5x |
| Wed, 03 Jul 2024 | €4.5b | €8.7b | €421.5m | 36.1x | 10.6x | 0.5x |
| Fri, 31 May 2024 | €4.5b | €8.7b | €421.5m | 37.3x | 10.6x | 0.5x |
| Sun, 28 Apr 2024 | €4.3b | €8.7b | €421.5m | 36.1x | 10.3x | 0.5x |
| Tue, 26 Mar 2024 | €4.5b | €8.7b | €415.4m | 21x | 10.8x | 0.5x |
| Thu, 22 Feb 2024 | €4.7b | €8.7b | €387.3m | 17.6x | 12.1x | 0.5x |
| Sat, 20 Jan 2024 | €5.0b | €8.4b | €403.5m | 27.4x | 12.4x | 0.6x |
| Mon, 18 Dec 2023 | €4.9b | €8.4b | €403.5m | 30x | 12.1x | 0.6x |
| Wed, 15 Nov 2023 | €5.0b | €8.4b | €403.5m | 33x | 12.4x | 0.6x |
| Fri, 13 Oct 2023 | €4.7b | €8.3b | €449.5m | 32.8x | 10.5x | 0.6x |
| Sun, 10 Sep 2023 | €4.5b | €8.3b | €449.5m | 29.4x | 10x | 0.5x |
| Tue, 08 Aug 2023 | €4.4b | €8.3b | €446.3m | 36.1x | 9.9x | 0.5x |
| Thu, 06 Jul 2023 | €4.4b | €8.2b | €518.3m | 19.7x | 8.5x | 0.5x |
| Sat, 03 Jun 2023 | €4.6b | €8.2b | €518.3m | 20.4x | 8.8x | 0.6x |
| Mon, 01 May 2023 | €4.8b | €8.1b | €543.3m | 21.1x | 8.9x | 0.6x |
| Wed, 29 Mar 2023 | €5.1b | €8.1b | €543.4m | 21.1x | 9.3x | 0.6x |
| Fri, 24 Feb 2023 | €5.1b | €8.0b | €553.4m | 14.8x | 9.2x | 0.6x |
Price to Earnings Ratio
9.2x
Current Industry PE
- Investors are relatively neutral on the Belgian Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 9.4x.
- The industry is trading close to its 3-year average PS ratio of 0.52x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 4.7% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Belgian Telecom sector?
| BE Market | 2.34% | |
| Telecom | 1.26% | |
| Interactive Media and Services | 14.14% | |
| Telecom Services and Carriers | 3.14% | |
| Wireless Telecom | 0% | 0 |
| Media | -0.72% | |
| Entertainment | -2.73% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 8.9x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading close to its 3-year average of 5.6x.
Forecasted Growth
- Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 19% over the next 5 years.
- However this is lower than its past earnings growth rate of 34% per year.
- In contrast, the Wireless Telecom industry is expected to see its earnings decline by 18% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| PROX Proximus | €8.31 | 2.3% +€61.3m | 54.7% | PE5.7x | |
| MLTV Choice | €0.23 | 14.1% +€60.8k | -84.8% | n/a |