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Belgian (BEL20) Telecom Sector Analysis
UpdatedDec 29, 2025
DataAggregated Company Financials
Companies7
- 7D0.2%
- 3M-4.3%
- 1Y20.3%
- YTD16.9%
The Telecom industry has stayed flat over the last week. The past year has been better, since the industry has gained 20% in that time. Looking forward, earnings are forecast to decline by 7.7% 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 |
|---|---|---|---|---|---|---|
| Mon, 29 Dec 2025 | €4.5b | €9.2b | €559.3m | 25.8x | 8x | 0.5x |
| Wed, 26 Nov 2025 | €4.5b | €9.2b | €559.3m | 26x | 8x | 0.5x |
| Fri, 24 Oct 2025 | €4.7b | €9.3b | €655.3m | 25.7x | 7.2x | 0.5x |
| Sun, 21 Sep 2025 | €4.6b | €9.3b | €655.3m | 25.8x | 7.1x | 0.5x |
| Tue, 19 Aug 2025 | €4.7b | €9.3b | €652.9m | 26.4x | 7.2x | 0.5x |
| Thu, 17 Jul 2025 | €5.1b | €9.4b | €552.7m | 27.4x | 9.2x | 0.5x |
| Sat, 14 Jun 2025 | €4.8b | €9.4b | €552.7m | 27.1x | 8.7x | 0.5x |
| Mon, 12 May 2025 | €4.2b | €9.3b | €515.7m | 26.1x | 8.1x | 0.5x |
| Wed, 09 Apr 2025 | €4.1b | €9.3b | €510.6m | 26.8x | 8.1x | 0.4x |
| Fri, 07 Mar 2025 | €4.1b | €9.1b | €524.2m | 25.6x | 7.8x | 0.4x |
| Sun, 02 Feb 2025 | €3.9b | €9.1b | €504.6m | 28.4x | 7.8x | 0.4x |
| Tue, 31 Dec 2024 | €3.8b | €9.1b | €504.6m | 27.2x | 7.5x | 0.4x |
| Thu, 28 Nov 2024 | €4.2b | €9.1b | €504.6m | 26.7x | 8.3x | 0.5x |
| Sat, 26 Oct 2024 | €4.3b | €9.0b | €403.6m | 27.7x | 10.8x | 0.5x |
| Mon, 23 Sep 2024 | €4.4b | €9.0b | €403.6m | 27.5x | 11x | 0.5x |
| Wed, 21 Aug 2024 | €4.3b | €9.0b | €424.3m | 21.6x | 10.2x | 0.5x |
| Fri, 19 Jul 2024 | €4.7b | €8.7b | €421.5m | 38.5x | 11.1x | 0.5x |
| Sun, 16 Jun 2024 | €4.4b | €8.7b | €421.5m | 35.8x | 10.4x | 0.5x |
| Tue, 14 May 2024 | €4.4b | €8.7b | €421.5m | 37.3x | 10.5x | 0.5x |
| Thu, 11 Apr 2024 | €4.5b | €8.7b | €415.5m | 35.5x | 10.8x | 0.5x |
| Sat, 09 Mar 2024 | €4.5b | €8.7b | €415.4m | 20.5x | 10.8x | 0.5x |
| Mon, 05 Feb 2024 | €4.8b | €8.4b | €403.5m | 28.1x | 12x | 0.6x |
| Wed, 03 Jan 2024 | €5.0b | €8.4b | €403.5m | 30.4x | 12.4x | 0.6x |
| Fri, 01 Dec 2023 | €5.0b | €8.4b | €403.5m | 31.1x | 12.5x | 0.6x |
| Sun, 29 Oct 2023 | €4.7b | €8.4b | €403.5m | 30.7x | 11.6x | 0.6x |
| Tue, 26 Sep 2023 | €4.8b | €8.3b | €449.5m | 31.7x | 10.6x | 0.6x |
| Thu, 24 Aug 2023 | €4.4b | €8.4b | €458.0m | 26.1x | 9.5x | 0.5x |
| Sat, 22 Jul 2023 | €4.5b | €8.2b | €476.2m | 33.5x | 9.4x | 0.5x |
| Mon, 19 Jun 2023 | €4.6b | €8.2b | €518.3m | 20.4x | 8.8x | 0.6x |
| Wed, 17 May 2023 | €4.8b | €8.2b | €518.3m | 20.9x | 9.2x | 0.6x |
| Fri, 14 Apr 2023 | €5.3b | €8.1b | €543.3m | 21.6x | 9.7x | 0.6x |
| Sun, 12 Mar 2023 | €4.9b | €8.1b | €551.6m | 14.5x | 8.8x | 0.6x |
| Tue, 07 Feb 2023 | €5.3b | €7.9b | €560.3m | 15.1x | 9.5x | 0.7x |
| Thu, 05 Jan 2023 | €5.3b | €7.9b | €560.3m | 15x | 9.5x | 0.7x |
Price to Earnings Ratio
9.5x
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 8.0x 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 | -0.77% | |
| Telecom | 0.25% | |
| Interactive Media and Services | 12.82% | |
| Entertainment | 0.85% | |
| Wireless Telecom | 0.79% | |
| Media | 0.40% | |
| Telecom Services and Carriers | -0.29% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 5.1x.
- 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 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 | |
|---|---|---|---|---|---|
| KIN Kinepolis Group | €29.70 | 0.7% +€5.3m | -23.6% | PE16.8x | |
| PROX Proximus | €6.99 | 0.2% +€4.8m | 40.1% | PE4.8x | |
| ROU Roularta Media Group | €12.55 | 2.0% +€3.1m | 13.1% | PE94.9x | |
| MLTV Choice | €0.18 | 2.9% +€10.9k | -88.2% | n/a |