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Belgian (BEL20) Telecom Sector Analysis
UpdatedJan 07, 2026
DataAggregated Company Financials
Companies7
- 7D0.5%
- 3M-3.0%
- 1Y18.9%
- YTD0.06%
In the last week, Telecom has been flat. As for the the longer term, the industry is up 20% over the past 12 months. Looking forward, earnings are forecast to decline by 6.0% per year.
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 |
|---|---|---|---|---|---|---|
| Wed, 07 Jan 2026 | €4.6b | €9.2b | €559.3m | 25.7x | 8.2x | 0.5x |
| Fri, 05 Dec 2025 | €4.6b | €9.2b | €559.3m | 26x | 8.2x | 0.5x |
| Sun, 02 Nov 2025 | €4.6b | €9.3b | €655.3m | 25.6x | 7.1x | 0.5x |
| Tue, 30 Sep 2025 | €4.7b | €9.3b | €655.3m | 26.2x | 7.2x | 0.5x |
| Thu, 28 Aug 2025 | €4.8b | €9.3b | €655.3m | 26.5x | 7.3x | 0.5x |
| Sat, 26 Jul 2025 | €4.8b | €9.4b | €572.9m | 26.5x | 8.3x | 0.5x |
| Mon, 23 Jun 2025 | €4.9b | €9.4b | €552.7m | 28x | 8.8x | 0.5x |
| Wed, 21 May 2025 | €4.5b | €9.4b | €552.7m | 26x | 8.1x | 0.5x |
| Fri, 18 Apr 2025 | €4.2b | €9.3b | €515.7m | 25.5x | 8.1x | 0.5x |
| Sun, 16 Mar 2025 | €4.3b | €9.3b | €510.7m | 28.2x | 8.3x | 0.5x |
| Tue, 11 Feb 2025 | €3.9b | €9.1b | €524.2m | 27.4x | 7.4x | 0.4x |
| Thu, 09 Jan 2025 | €3.8b | €9.1b | €504.6m | 28.3x | 7.6x | 0.4x |
| Sat, 07 Dec 2024 | €4.0b | €9.1b | €504.6m | 27.3x | 8x | 0.4x |
| Mon, 04 Nov 2024 | €4.4b | €9.1b | €504.6m | 27.8x | 8.7x | 0.5x |
| Wed, 02 Oct 2024 | €4.4b | €9.0b | €403.6m | 27.8x | 11x | 0.5x |
| Fri, 30 Aug 2024 | €4.4b | €9.0b | €403.6m | 27.5x | 10.9x | 0.5x |
| Sun, 28 Jul 2024 | €4.3b | €8.9b | €424.1m | 38.1x | 10.2x | 0.5x |
| Tue, 25 Jun 2024 | €4.5b | €8.7b | €421.5m | 37.6x | 10.6x | 0.5x |
| Thu, 23 May 2024 | €4.6b | €8.7b | €421.5m | 35.7x | 10.8x | 0.5x |
| Sat, 20 Apr 2024 | €4.4b | €8.7b | €415.5m | 35.7x | 10.6x | 0.5x |
| Mon, 18 Mar 2024 | €4.5b | €8.7b | €415.4m | 20.7x | 10.9x | 0.5x |
| Wed, 14 Feb 2024 | €4.7b | €8.7b | €387.3m | 18x | 12.2x | 0.5x |
| Fri, 12 Jan 2024 | €4.9b | €8.4b | €403.5m | 29.4x | 12.2x | 0.6x |
| Sun, 10 Dec 2023 | €5.0b | €8.4b | €403.5m | 30x | 12.4x | 0.6x |
| Tue, 07 Nov 2023 | €4.8b | €8.4b | €403.5m | 32.4x | 11.9x | 0.6x |
| Thu, 05 Oct 2023 | €4.7b | €8.3b | €449.5m | 32x | 10.5x | 0.6x |
| Sat, 02 Sep 2023 | €4.4b | €8.3b | €449.5m | 30.1x | 9.8x | 0.5x |
| Mon, 31 Jul 2023 | €4.5b | €8.3b | €446.3m | 34x | 10.1x | 0.5x |
| Wed, 28 Jun 2023 | €4.3b | €8.2b | €518.3m | 19.6x | 8.3x | 0.5x |
| Fri, 26 May 2023 | €4.7b | €8.2b | €518.3m | 20.7x | 9x | 0.6x |
| Sun, 23 Apr 2023 | €5.1b | €8.1b | €543.3m | 21.7x | 9.4x | 0.6x |
| Tue, 21 Mar 2023 | €4.9b | €8.1b | €543.4m | 20.6x | 9x | 0.6x |
| Thu, 16 Feb 2023 | €5.2b | €7.9b | €559.4m | 14.8x | 9.4x | 0.7x |
| Sat, 14 Jan 2023 | €5.3b | €7.9b | €560.3m | 14.7x | 9.4x | 0.7x |
Price to Earnings Ratio
9.4x
Current Industry PE
- Investors are pessimistic on the Belgian 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 8.1x which is lower than its 3-year average PE of 9.4x.
- The industry is trading close to its 3-year average PS ratio of 0.53x.
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 5.4% 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 | 1.76% | |
| Telecom | 0.48% | |
| Telecom Services and Carriers | 1.55% | |
| Wireless Telecom | 0.26% | |
| Interactive Media and Services | 0% | 0 |
| Entertainment | -1.67% | |
| Media | -2.41% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 5.8x.
- 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 below its 3-year average of 5.7x.
Forecasted Growth
- Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 22% 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 28% 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 | €7.38 | 4.2% +€96.7m | 46.3% | PE5x | |
| MLTV Choice | €0.20 | 20.0% +€73.8k | -86.3% | n/a |