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Belgian (BEL20) Telecom Sector Analysis
UpdatedJan 11, 2026
DataAggregated Company Financials
Companies7
- 7D-0.8%
- 3M-3.1%
- 1Y19.1%
- YTD-0.8%
Over the last 7 days, the Telecom industry has remained flat, although notably Kinepolis Group declined by 3.8%. As for the the longer term, the industry is up 19% over the past 12 months. In the next few years, earnings are forecast to decline by 6.2% 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 |
|---|---|---|---|---|---|---|
| Sun, 11 Jan 2026 | €4.5b | €9.2b | €559.3m | 25.5x | 8.1x | 0.5x |
| Tue, 09 Dec 2025 | €4.5b | €9.2b | €559.3m | 25.7x | 8x | 0.5x |
| Thu, 06 Nov 2025 | €4.6b | €9.3b | €655.3m | 26.1x | 7.1x | 0.5x |
| Sat, 04 Oct 2025 | €4.6b | €9.3b | €655.3m | 26.1x | 7.1x | 0.5x |
| Mon, 01 Sep 2025 | €4.7b | €9.3b | €655.3m | 26.3x | 7.2x | 0.5x |
| Wed, 30 Jul 2025 | €4.7b | €9.3b | €652.9m | 27.7x | 7.2x | 0.5x |
| Fri, 27 Jun 2025 | €5.0b | €9.4b | €552.7m | 27.9x | 9.1x | 0.5x |
| Sun, 25 May 2025 | €4.6b | €9.4b | €552.7m | 26.3x | 8.2x | 0.5x |
| Tue, 22 Apr 2025 | €4.2b | €9.3b | €515.7m | 25.5x | 8.1x | 0.5x |
| Thu, 20 Mar 2025 | €4.3b | €9.3b | €510.7m | 28.2x | 8.4x | 0.5x |
| Sat, 15 Feb 2025 | €3.9b | €9.1b | €524.2m | 27.5x | 7.4x | 0.4x |
| Mon, 13 Jan 2025 | €3.8b | €9.1b | €504.6m | 28.6x | 7.5x | 0.4x |
| Wed, 11 Dec 2024 | €3.9b | €9.1b | €504.6m | 26.6x | 7.8x | 0.4x |
| Fri, 08 Nov 2024 | €4.4b | €9.1b | €504.6m | 27.8x | 8.6x | 0.5x |
| Sun, 06 Oct 2024 | €4.4b | €9.0b | €403.6m | 28.1x | 10.8x | 0.5x |
| Tue, 03 Sep 2024 | €4.4b | €9.0b | €403.6m | 27.5x | 10.9x | 0.5x |
| Thu, 01 Aug 2024 | €4.3b | €9.0b | €421.1m | 38.1x | 10.2x | 0.5x |
| Sat, 29 Jun 2024 | €4.5b | €8.7b | €421.5m | 36.6x | 10.6x | 0.5x |
| Mon, 27 May 2024 | €4.6b | €8.7b | €421.5m | 36.8x | 10.9x | 0.5x |
| Wed, 24 Apr 2024 | €4.5b | €8.7b | €415.5m | 36x | 10.8x | 0.5x |
| Fri, 22 Mar 2024 | €4.4b | €8.7b | €415.4m | 20.8x | 10.7x | 0.5x |
| Sun, 18 Feb 2024 | €4.7b | €8.7b | €387.3m | 18x | 12.1x | 0.5x |
| Tue, 16 Jan 2024 | €5.0b | €8.4b | €403.5m | 29.8x | 12.4x | 0.6x |
| Thu, 14 Dec 2023 | €4.9b | €8.4b | €403.5m | 29.8x | 12.1x | 0.6x |
| Sat, 11 Nov 2023 | €4.9b | €8.4b | €403.5m | 32.7x | 12x | 0.6x |
| Mon, 09 Oct 2023 | €4.7b | €8.3b | €449.5m | 32.4x | 10.4x | 0.6x |
| Wed, 06 Sep 2023 | €4.4b | €8.3b | €449.5m | 29.4x | 9.8x | 0.5x |
| Fri, 04 Aug 2023 | €4.4b | €8.3b | €446.3m | 34.4x | 9.8x | 0.5x |
| Sun, 02 Jul 2023 | €4.3b | €8.2b | €518.3m | 19.9x | 8.4x | 0.5x |
| Tue, 30 May 2023 | €4.6b | €8.2b | €518.3m | 21.3x | 8.8x | 0.6x |
| Thu, 27 Apr 2023 | €4.9b | €8.1b | €543.3m | 21.5x | 8.9x | 0.6x |
| Sat, 25 Mar 2023 | €5.1b | €8.1b | €543.4m | 20.8x | 9.3x | 0.6x |
| Mon, 20 Feb 2023 | €5.3b | €7.9b | €559.4m | 14.8x | 9.4x | 0.7x |
| Wed, 18 Jan 2023 | €5.4b | €7.9b | €560.3m | 14.7x | 9.6x | 0.7x |
Price to Earnings Ratio
9.6x
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 0.52x.
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 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 | 2.76% | |
| Telecom | -0.77% | |
| Interactive Media and Services | 29.41% | |
| Media | 1.67% | |
| Telecom Services and Carriers | 0.14% | |
| Wireless Telecom | -0.77% | |
| Entertainment | -3.85% | |
Industry PE
- Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 6.1x.
- 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 | |
|---|---|---|---|---|---|
| PROX Proximus | €7.16 | 0.1% +€3.2m | 42.5% | PE4.9x | |
| ROU Roularta Media Group | €12.20 | 1.7% +€2.5m | -3.2% | PE92.2x | |
| MLTV Choice | €0.22 | 29.4% +€108.5k | -85.2% | n/a |