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Canadian (TSX) Telecom Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies31
  • 7D-0.9%
  • 3M-1.1%
  • 1Y9.7%
  • YTD1.8%

In the last week, the Telecom industry is flat overall, with Rogers Communications standing out by going down 4.1%. The past year has been better, since the industry has gained 9.7% in that time. Looking forward, earnings are forecast to decline by 8.7% per year.

Sector Valuation and Performance

Has the Canadian Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026CA$105.9bCA$80.7bCA$15.4b11.5x6.9x1.3x
Wed, 07 Jan 2026CA$104.0bCA$80.2bCA$15.1b11.8x6.9x1.3x
Fri, 05 Dec 2025CA$104.6bCA$80.2bCA$15.1b11.9x6.9x1.3x
Sun, 02 Nov 2025CA$106.7bCA$79.8bCA$9.1b9.4x11.7x1.3x
Tue, 30 Sep 2025CA$105.5bCA$79.7bCA$3.8b10.9x27.4x1.3x
Thu, 28 Aug 2025CA$108.5bCA$79.7bCA$3.8b11.7x28.8x1.4x
Sat, 26 Jul 2025CA$105.7bCA$79.7bCA$3.9b12.2x27x1.3x
Mon, 23 Jun 2025CA$96.9bCA$79.6bCA$4.2b10.6x23.3x1.2x
Wed, 21 May 2025CA$95.6bCA$79.6bCA$4.1b9.6x23.3x1.2x
Fri, 18 Apr 2025CA$91.8bCA$79.5bCA$3.6b11.1x25.4x1.2x
Sun, 16 Mar 2025CA$100.0bCA$79.6bCA$3.7b11.2x27.3x1.3x
Tue, 11 Feb 2025CA$96.7bCA$80.0bCA$3.6b10.6x26.8x1.2x
Thu, 09 Jan 2025CA$100.9bCA$79.9bCA$3.3b10.5x30.2x1.3x
Sat, 07 Dec 2024CA$109.4bCA$80.0bCA$3.3b11.1x32.8x1.4x
Mon, 04 Nov 2024CA$115.1bCA$80.3bCA$5.0b11.2x22.9x1.4x
Wed, 02 Oct 2024CA$120.5bCA$80.2bCA$4.4b10.1x27.3x1.5x
Fri, 30 Aug 2024CA$118.5bCA$80.2bCA$4.4b9.2x26.7x1.5x
Sun, 28 Jul 2024CA$115.2bCA$80.4bCA$4.3b7.8x27.1x1.4x
Tue, 25 Jun 2024CA$112.3bCA$81.8bCA$3.5b8.5x31.7x1.4x
Thu, 23 May 2024CA$116.4bCA$81.8bCA$3.6b9.7x32.4x1.4x
Sat, 20 Apr 2024CA$113.2bCA$81.2bCA$3.9b11.9x28.7x1.4x
Mon, 18 Mar 2024CA$119.8bCA$81.4bCA$4.0b11.3x29.7x1.5x
Wed, 14 Feb 2024CA$125.4bCA$81.1bCA$4.1b12.2x30.7x1.5x
Fri, 12 Jan 2024CA$153.8bCA$85.4bCA$5.0b12.8x31x1.8x
Sun, 10 Dec 2023CA$153.4bCA$85.4bCA$5.0b11.9x30.7x1.8x
Tue, 07 Nov 2023CA$148.5bCA$84.6bCA$5.8b11x25.6x1.8x
Thu, 05 Oct 2023CA$137.7bCA$84.1bCA$5.8b10.7x23.7x1.6x
Sat, 02 Sep 2023CA$151.1bCA$84.1bCA$5.9b11.8x25.8x1.8x
Mon, 31 Jul 2023CA$152.6bCA$83.0bCA$6.9b10.2x22.1x1.8x
Wed, 28 Jun 2023CA$157.0bCA$81.9bCA$7.8b9.4x20.2x1.9x
Fri, 26 May 2023CA$163.4bCA$81.9bCA$7.8b12.7x20.9x2x
Sun, 23 Apr 2023CA$169.2bCA$80.8bCA$8.0b13.5x21.1x2.1x
Tue, 21 Mar 2023CA$160.5bCA$81.2bCA$8.1b13.4x19.8x2x
Thu, 16 Feb 2023CA$163.4bCA$81.1bCA$8.3b15.8x19.8x2x
Price to Earnings Ratio

19.8x


Total Market Cap: CA$163.4bTotal Earnings: CA$8.3bTotal Revenue: CA$81.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 24.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian 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 6.9x which is lower than its 3-year average PE of 24.8x.
  • The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 23% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Canadian Telecom sector?

CA Market2.10%
Telecom-0.92%
Media9.03%
Interactive Media and Services2.15%
Telecom Services and Carriers0.18%
Wireless Telecom-4.11%
Entertainment-15.11%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 23.4x.
    • Analysts are expecting annual earnings growth of 35.7%, which is higher than its past year's earnings growth of 24.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 103% over the next 5 years.
  • However this is lower than its past earnings growth rate of 346% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 29% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
T TELUSCA$19.322.3%
+CA$682.4m		-6.8%PE25.4x
RAY.A Stingray GroupCA$17.155.6%
+CA$61.8m		101.3%PE22.5x
CCA Cogeco CommunicationsCA$66.641.5%
+CA$42.4m		7.2%PE9x
CGO CogecoCA$70.175.1%
+CA$32.1m		29.9%PE8x
Y Yellow PagesCA$12.285.0%
+CA$8.0m		10.4%PE12.8x

Latest News

SBIO
CA$0.33
Sabio Holdings
7D
-4.3%
1Y
-37.7%
RCI.B
CA$49.29
Rogers Communications
7D
-2.2%
1Y
27.9%

RCI.B: Sustainable Pricing And Higher Future P/E Will Support Upside

Analysts have nudged their price targets on Rogers Communications higher, reflecting revised assumptions for slightly lower revenue growth and profit margins. This is offset by a modestly higher fair value estimate of about $59.87 and a higher future P/E multiple.
BCE
CA$34.25
BCE
7D
-2.7%
1Y
8.3%

BCE: Fair Outlook Balances Mixed Rating Moves And 2026 Guidance

Analysts have nudged their BCE valuation slightly higher, with the fair value estimate moving to $37.01 from $36.47, as they balance mixed price target moves on the Street with updated assumptions for revenue growth, profit margins and future P/E levels. Analyst Commentary Street research on BCE in recent days has been mixed, with some price targets nudged lower and at least one upgrade.
WILD
CA$1.31
WildBrain
7D
-9.7%
1Y
-24.3%
T
CA$19.32
TELUS
7D
2.3%
1Y
-6.8%
BAMI
CA$6.38
Blue Ant Media
7D
-30.2%
1Y
n/a
RAY.A
CA$17.15
Stingray Group
7D
5.6%
1Y
101.3%

What Does Stingray Group Inc.'s (TSE:RAY.A) Share Price Indicate?

Feb 05
What Does Stingray Group Inc.'s (TSE:RAY.A) Share Price Indicate?
QBR.A
CA$51.00
Quebecor
7D
-1.8%
1Y
53.0%

With EPS Growth And More, Quebecor (TSE:QBR.A) Makes An Interesting Case

Feb 03
With EPS Growth And More, Quebecor (TSE:QBR.A) Makes An Interesting Case
ILLM
CA$1.04
illumin Holdings
7D
3.0%
1Y
-66.7%
CGO
CA$70.17
Cogeco
7D
5.1%
1Y
29.9%
CCA
CA$66.64
Cogeco Communications
7D
1.5%
1Y
7.2%

CCA: Future Revenue Pressures And Higher Margins Will Shape Fairly Valued Shares

Analysts have increased their fair value estimate for Cogeco Communications to $67 from $64. They cite recent price target increases, slightly less severe revenue contraction assumptions, firmer profit margin expectations near 13%, and a lower future P/E multiple closer to 9.8x in their updated models.
Y
CA$12.28
Yellow Pages
7D
5.0%
1Y
10.4%
OAM
CA$0.20
OverActive Media
7D
-18.4%
1Y
-21.6%
TNJ
CA$0.045
Boba Mint Holdings
7D
28.6%
1Y
-79.1%
SQG
CA$0.13
Spackman Equities Group
7D
-13.8%
1Y
-97.6%
ICGH
CA$0.67
IC Group Holdings
7D
4.7%
1Y
n/a