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Belgian (BEL20) Telecom Sector Analysis
UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies7
- 7D1.0%
- 3M10.8%
- 1Y25.6%
- YTD7.7%
In the last week, the Telecom industry is up 2.5%, with Proximus up 5.1%. This means that the industry has gained 26% over the past year. In the next few years, earnings are forecast to decline by 3.1% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 19 Feb 2026 | €4.9b | €9.2b | €563.3m | 23.6x | 8.7x | 0.5x |
| Sat, 17 Jan 2026 | €4.5b | €9.2b | €559.3m | 25.1x | 8.1x | 0.5x |
| Mon, 15 Dec 2025 | €4.5b | €9.2b | €559.3m | 25.6x | 8x | 0.5x |
| Wed, 12 Nov 2025 | €4.5b | €9.3b | €655.3m | 26x | 6.9x | 0.5x |
| Fri, 10 Oct 2025 | €4.7b | €9.3b | €655.3m | 25.9x | 7.2x | 0.5x |
| Sun, 07 Sep 2025 | €4.7b | €9.3b | €655.3m | 26.1x | 7.1x | 0.5x |
| Tue, 05 Aug 2025 | €4.8b | €9.3b | €652.9m | 27.8x | 7.4x | 0.5x |
| Thu, 03 Jul 2025 | €4.9b | €9.4b | €552.7m | 27.4x | 8.9x | 0.5x |
| Sat, 31 May 2025 | €4.7b | €9.4b | €552.7m | 27.2x | 8.5x | 0.5x |
| Mon, 28 Apr 2025 | €4.1b | €9.3b | €515.7m | 26.2x | 8x | 0.4x |
| Wed, 26 Mar 2025 | €4.3b | €9.3b | €510.7m | 28.5x | 8.4x | 0.5x |
| Fri, 21 Feb 2025 | €3.9b | €9.1b | €524.2m | 26.9x | 7.4x | 0.4x |
| Sun, 19 Jan 2025 | €3.8b | €9.1b | €504.6m | 28x | 7.5x | 0.4x |
| Tue, 17 Dec 2024 | €3.7b | €9.1b | €504.6m | 26.8x | 7.3x | 0.4x |
| Thu, 14 Nov 2024 | €4.3b | €9.1b | €504.6m | 27.1x | 8.5x | 0.5x |
| Sat, 12 Oct 2024 | €4.4b | €9.0b | €403.6m | 28.3x | 10.8x | 0.5x |
| Mon, 09 Sep 2024 | €4.4b | €9.0b | €403.6m | 28x | 11x | 0.5x |
| Wed, 07 Aug 2024 | €4.1b | €9.0b | €421.1m | 38x | 9.8x | 0.5x |
| Fri, 05 Jul 2024 | €4.5b | €8.7b | €421.5m | 36.2x | 10.7x | 0.5x |
| Sun, 02 Jun 2024 | €4.5b | €8.7b | €421.5m | 37.5x | 10.6x | 0.5x |
| Tue, 30 Apr 2024 | €4.3b | €8.7b | €421.5m | 36.1x | 10.2x | 0.5x |
| Thu, 28 Mar 2024 | €4.5b | €8.7b | €415.4m | 20.5x | 10.8x | 0.5x |
| Sat, 24 Feb 2024 | €4.8b | €8.7b | €387.3m | 18.7x | 12.5x | 0.6x |
| Mon, 22 Jan 2024 | €5.0b | €8.4b | €403.5m | 27.4x | 12.4x | 0.6x |
| Wed, 20 Dec 2023 | €5.0b | €8.4b | €403.5m | 32.2x | 12.3x | 0.6x |
| Fri, 17 Nov 2023 | €5.0b | €8.4b | €403.5m | 32.5x | 12.5x | 0.6x |
| Sun, 15 Oct 2023 | €4.8b | €8.3b | €449.5m | 31.4x | 10.7x | 0.6x |
| Tue, 12 Sep 2023 | €4.6b | €8.3b | €449.5m | 29.5x | 10.2x | 0.5x |
| Thu, 10 Aug 2023 | €4.4b | €8.3b | €446.3m | 35.9x | 9.8x | 0.5x |
| Sat, 08 Jul 2023 | €4.4b | €8.2b | €518.3m | 19.6x | 8.5x | 0.5x |
| Mon, 05 Jun 2023 | €4.6b | €8.2b | €518.3m | 20.4x | 8.8x | 0.6x |
| Wed, 03 May 2023 | €4.7b | €8.1b | €543.3m | 20.8x | 8.7x | 0.6x |
| Fri, 31 Mar 2023 | €5.3b | €8.1b | €543.4m | 21.2x | 9.7x | 0.7x |
| Sun, 26 Feb 2023 | €5.1b | €8.0b | €553.4m | 15x | 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 | 2.27% | |
| Telecom | 1.05% | |
| Interactive Media and Services | 7.37% | |
| Telecom Services and Carriers | 1.82% | |
| Entertainment | 0.37% | |
| Media | 0% | 0 |
| Wireless Telecom | 0% | 0 |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 9.1x.
- 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 | €8.40 | 1.8% +€48.4m | 53.5% | PE5.7x | |
| KIN Kinepolis Group | €27.05 | 0.4% +€2.7m | -26.5% | PE15.3x | |
| MLTV Choice | €0.20 | 7.4% +€30.4k | -86.3% | n/a |