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Dec 31
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Belgian (BEL20) Telecom Sector Analysis
UpdatedJan 01, 2026
DataAggregated Company Financials
Companies7
- 7D0.9%
- 3M-2.8%
- 1Y18.9%
- YTD17.9%
In the last week, the Telecom industry is up 1.3%, with Proximus up 1.9%. In the last 12 months, the industry was up 19%. As for the next few years, earnings are forecast to decline by 7.6% 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 |
|---|---|---|---|---|---|---|
| Thu, 01 Jan 2026 | €4.5b | €9.2b | €559.3m | 25.9x | 8.1x | 0.5x |
| Sat, 29 Nov 2025 | €4.7b | €9.2b | €559.3m | 26.1x | 8.4x | 0.5x |
| Mon, 27 Oct 2025 | €4.7b | €9.3b | €655.3m | 25.8x | 7.2x | 0.5x |
| Wed, 24 Sep 2025 | €4.6b | €9.3b | €655.3m | 26x | 7.1x | 0.5x |
| Fri, 22 Aug 2025 | €4.7b | €9.3b | €652.9m | 25.8x | 7.2x | 0.5x |
| Sun, 20 Jul 2025 | €5.0b | €9.4b | €552.7m | 28.1x | 9x | 0.5x |
| Tue, 17 Jun 2025 | €4.9b | €9.4b | €552.7m | 27.7x | 8.8x | 0.5x |
| Thu, 15 May 2025 | €4.3b | €9.4b | €552.7m | 26.3x | 7.8x | 0.5x |
| Sat, 12 Apr 2025 | €4.1b | €9.3b | €510.6m | 27.1x | 8.1x | 0.4x |
| Mon, 10 Mar 2025 | €4.1b | €9.3b | €510.2m | 26x | 8x | 0.4x |
| Wed, 05 Feb 2025 | €3.9b | €9.1b | €504.6m | 27.9x | 7.7x | 0.4x |
| Fri, 03 Jan 2025 | €3.9b | €9.1b | €504.6m | 27.6x | 7.6x | 0.4x |
| Sun, 01 Dec 2024 | €4.1b | €9.1b | €504.6m | 26.5x | 8.1x | 0.5x |
| Tue, 29 Oct 2024 | €4.3b | €9.1b | €504.6m | 27.8x | 8.6x | 0.5x |
| Thu, 26 Sep 2024 | €4.5b | €9.0b | €403.6m | 27.5x | 11x | 0.5x |
| Sat, 24 Aug 2024 | €4.4b | €9.0b | €424.3m | 22.1x | 10.4x | 0.5x |
| Mon, 22 Jul 2024 | €4.7b | €8.7b | €421.5m | 38.3x | 11.1x | 0.5x |
| Wed, 19 Jun 2024 | €4.5b | €8.7b | €421.5m | 35.3x | 10.6x | 0.5x |
| Fri, 17 May 2024 | €4.4b | €8.7b | €421.5m | 37.4x | 10.5x | 0.5x |
| Sun, 14 Apr 2024 | €4.5b | €8.7b | €415.5m | 35.5x | 10.7x | 0.5x |
| Tue, 12 Mar 2024 | €4.5b | €8.7b | €415.4m | 20.2x | 10.8x | 0.5x |
| Thu, 08 Feb 2024 | €4.7b | €8.4b | €403.5m | 27.7x | 11.7x | 0.6x |
| Sat, 06 Jan 2024 | €5.0b | €8.4b | €403.5m | 29.9x | 12.5x | 0.6x |
| Mon, 04 Dec 2023 | €5.0b | €8.4b | €403.5m | 31x | 12.5x | 0.6x |
| Wed, 01 Nov 2023 | €4.7b | €8.4b | €403.5m | 31.8x | 11.7x | 0.6x |
| Fri, 29 Sep 2023 | €4.7b | €8.3b | €449.5m | 31.8x | 10.4x | 0.6x |
| Sun, 27 Aug 2023 | €4.3b | €8.3b | €449.5m | 30.2x | 9.6x | 0.5x |
| Tue, 25 Jul 2023 | €4.5b | €8.2b | €476.3m | 33.8x | 9.5x | 0.6x |
| Thu, 22 Jun 2023 | €4.4b | €8.2b | €518.3m | 19.9x | 8.6x | 0.5x |
| Sat, 20 May 2023 | €4.7b | €8.2b | €518.3m | 21x | 9.1x | 0.6x |
| Mon, 17 Apr 2023 | €5.3b | €8.1b | €543.3m | 21.7x | 9.7x | 0.7x |
| Wed, 15 Mar 2023 | €4.9b | €8.1b | €551.6m | 14.3x | 8.8x | 0.6x |
| Fri, 10 Feb 2023 | €5.3b | €7.9b | €560.3m | 15.2x | 9.5x | 0.7x |
| Sun, 08 Jan 2023 | €5.4b | €7.9b | €560.3m | 14.9x | 9.7x | 0.7x |
Price to Earnings Ratio
9.7x
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 | 0.67% | |
| Telecom | 0.87% | |
| Telecom Services and Carriers | 1.29% | |
| Entertainment | 1.01% | |
| Wireless Telecom | 0.26% | |
| Media | -0.80% | |
| Interactive Media and Services | -3.41% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 5.3x.
- 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 | €7.08 | 1.3% +€29.0m | 40.8% | PE4.8x | |
| KIN Kinepolis Group | €30.00 | 1.0% +€8.0m | -23.9% | PE17x | |
| OBEL Orange Belgium | €19.30 | 0.3% +€3.4m | 30.1% | PE34.8x |