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Belgian (BEL20) Telecom Sector Analysis
UpdatedJul 22, 2026
DataAggregated Company Financials
Companies7
- 7D0.6%
- 3M3.0%
- 1Y-6.9%
- YTD1.2%
In the last week, Telecom has been flat. As for the longer term, the industry has declined 6.9% in the last year. As for the next few years, earnings are expected to grow by 3.7% 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 |
|---|---|---|---|---|---|---|
| Wed, 22 Jul 2026 | €4.6b | €9.0b | €468.1m | 30.8x | 9.9x | 0.5x |
| Fri, 19 Jun 2026 | €4.6b | €9.0b | €468.1m | 29.1x | 9.7x | 0.5x |
| Sun, 17 May 2026 | €4.5b | €9.0b | €468.1m | 27.9x | 9.7x | 0.5x |
| Tue, 14 Apr 2026 | €4.5b | €9.1b | €482.1m | 25.8x | 9.4x | 0.5x |
| Thu, 12 Mar 2026 | €4.5b | €9.1b | €478.8m | 25.2x | 9.4x | 0.5x |
| Sat, 07 Feb 2026 | €4.8b | €9.2b | €559.3m | 25.4x | 8.6x | 0.5x |
| Mon, 05 Jan 2026 | €4.6b | €9.2b | €559.3m | 26x | 8.2x | 0.5x |
| Wed, 03 Dec 2025 | €4.6b | €9.2b | €559.3m | 25.7x | 8.3x | 0.5x |
| Fri, 31 Oct 2025 | €4.7b | €9.3b | €655.3m | 25.7x | 7.1x | 0.5x |
| Sun, 28 Sep 2025 | €4.7b | €9.3b | €655.3m | 26.1x | 7.1x | 0.5x |
| Tue, 26 Aug 2025 | €4.8b | €9.3b | €655.3m | 26.6x | 7.3x | 0.5x |
| Thu, 24 Jul 2025 | €4.9b | €9.4b | €552.7m | 27.8x | 8.9x | 0.5x |
| Sat, 21 Jun 2025 | €4.9b | €9.4b | €552.7m | 28x | 8.8x | 0.5x |
| Mon, 19 May 2025 | €4.4b | €9.4b | €552.7m | 25.9x | 8x | 0.5x |
| Wed, 16 Apr 2025 | €4.2b | €9.3b | €515.7m | 25.8x | 8.1x | 0.5x |
| Fri, 14 Mar 2025 | €4.3b | €9.3b | €510.2m | 26.7x | 8.3x | 0.5x |
| Sun, 09 Feb 2025 | €3.9b | €9.1b | €524.2m | 27.7x | 7.4x | 0.4x |
| Tue, 07 Jan 2025 | €3.8b | €9.1b | €504.6m | 28.3x | 7.5x | 0.4x |
| Thu, 05 Dec 2024 | €4.1b | €9.1b | €504.6m | 27x | 8x | 0.4x |
| Sat, 02 Nov 2024 | €4.4b | €9.1b | €504.6m | 27.8x | 8.7x | 0.5x |
| Mon, 30 Sep 2024 | €4.5b | €9.0b | €403.6m | 28x | 11.1x | 0.5x |
| Wed, 28 Aug 2024 | €4.4b | €9.0b | €403.6m | 27.6x | 10.9x | 0.5x |
| Fri, 26 Jul 2024 | €4.6b | €8.9b | €424.1m | 38.1x | 10.8x | 0.5x |
| Sun, 23 Jun 2024 | €4.5b | €8.7b | €421.5m | 37.5x | 10.6x | 0.5x |
| Tue, 21 May 2024 | €4.6b | €8.7b | €421.5m | 36.8x | 10.8x | 0.5x |
| Thu, 18 Apr 2024 | €4.4b | €8.7b | €415.5m | 35.8x | 10.5x | 0.5x |
| Sat, 16 Mar 2024 | €4.5b | €8.7b | €415.4m | 20.7x | 10.9x | 0.5x |
| Mon, 12 Feb 2024 | €4.7b | €8.4b | €403.5m | 27.7x | 11.7x | 0.6x |
| Wed, 10 Jan 2024 | €5.0b | €8.4b | €403.5m | 29.9x | 12.4x | 0.6x |
| Fri, 08 Dec 2023 | €5.0b | €8.4b | €403.5m | 30.3x | 12.5x | 0.6x |
| Sun, 05 Nov 2023 | €4.8b | €8.4b | €403.5m | 32.9x | 12x | 0.6x |
| Tue, 03 Oct 2023 | €4.7b | €8.3b | €449.5m | 32.5x | 10.5x | 0.6x |
| Thu, 31 Aug 2023 | €4.4b | €8.3b | €449.5m | 29.9x | 9.7x | 0.5x |
| Sat, 29 Jul 2023 | €4.5b | €8.2b | €476.3m | 34x | 9.4x | 0.5x |
Price to Earnings Ratio
9.4x
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 0.51x.
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 2.8% 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 | 1.02% | |
| Telecom | 0.59% | |
| Media | 4.26% | |
| Entertainment | 2.93% | |
| Wireless Telecom | 0.93% | |
| Interactive Media and Services | 0% | 0 |
| Telecom Services and Carriers | -1.14% | |
Industry PE
- Investors are most optimistic about the Wireless Telecom industry even though it's trading below its 3-year average PE ratio of 2kx.
- Analysts are expecting annual earnings decline of 3.4%, which is lower than the prior year's growth of 86.5% per year.
- 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 23% over the next 5 years.
- This is better than its past earnings decline of 6.3% per year.
- In contrast, the Wireless Telecom industry is expected to see its earnings decline by 3.4% 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 | |
|---|---|---|---|---|---|
| KIN Kinepolis Group | €38.80 | 2.2% +€22.7m | 6.2% | PE27.4x | |
| OBEL Orange Belgium | €21.80 | 0.9% +€13.5m | 25.3% | PE35.6x | |
| PROX Proximus | €6.14 | 0.7% +€12.9m | -23.3% | PE5.2x | |
| ROU Roularta Media Group | €13.25 | 1.9% +€3.1m | -14.5% | PE33.8x |