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Canadian (TSX) Telecom Sector Analysis

UpdatedNov 20, 2025
DataAggregated Company Financials
Companies32
  • 7D-2.7%
  • 3M-3.8%
  • 1Y-1.4%
  • YTD6.4%

Over the last 7 days, the Telecom industry has dropped 2.7%, driven by TELUS declining 8.6%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to decline by 20% per year.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Nov 2025CA$106.1bCA$80.0bCA$15.1b8.6x7x1.3x
Sun, 19 Oct 2025CA$108.3bCA$79.7bCA$3.8b11.2x28.2x1.4x
Tue, 16 Sep 2025CA$107.3bCA$79.7bCA$3.8b11.8x28.5x1.3x
Thu, 14 Aug 2025CA$105.3bCA$79.7bCA$3.8b11.1x27.6x1.3x
Sat, 12 Jul 2025CA$104.0bCA$79.6bCA$4.2b12.6x25.1x1.3x
Mon, 09 Jun 2025CA$96.3bCA$79.6bCA$4.1b11.1x23.5x1.2x
Wed, 07 May 2025CA$92.5bCA$79.5bCA$3.7b10.7x25.3x1.2x
Fri, 04 Apr 2025CA$93.6bCA$79.5bCA$3.6b11.4x25.7x1.2x
Sun, 02 Mar 2025CA$101.4bCA$80.2bCA$3.7b10.6x27.3x1.3x
Tue, 28 Jan 2025CA$98.3bCA$79.9bCA$3.3b11.3x29.4x1.2x
Thu, 26 Dec 2024CA$97.9bCA$79.9bCA$3.3b10.1x29.3x1.2x
Sat, 23 Nov 2024CA$106.4bCA$80.0bCA$3.3b10.1x31.9x1.3x
Mon, 21 Oct 2024CA$119.4bCA$80.2bCA$4.4b11x27x1.5x
Wed, 18 Sep 2024CA$120.6bCA$80.2bCA$4.4b9.7x27.1x1.5x
Fri, 16 Aug 2024CA$118.4bCA$80.2bCA$4.4b9.4x26.8x1.5x
Sun, 14 Jul 2024CA$111.0bCA$81.8bCA$3.5b6.7x31.3x1.4x
Tue, 11 Jun 2024CA$115.8bCA$81.8bCA$3.6b8.9x32.3x1.4x
Thu, 09 May 2024CA$115.8bCA$81.8bCA$3.7b10.3x31.7x1.4x
Sat, 06 Apr 2024CA$114.1bCA$81.3bCA$4.0b12.7x28.9x1.4x
Mon, 04 Mar 2024CA$126.5bCA$81.4bCA$4.0b11.4x31.3x1.6x
Wed, 31 Jan 2024CA$154.9bCA$85.4bCA$5.0b12.5x31.2x1.8x
Fri, 29 Dec 2023CA$148.2bCA$85.4bCA$5.0b12.7x29.6x1.7x
Sun, 26 Nov 2023CA$149.0bCA$85.4bCA$5.0b12.3x29.8x1.7x
Tue, 24 Oct 2023CA$139.1bCA$84.1bCA$5.8b10.3x23.9x1.7x
Thu, 21 Sep 2023CA$147.6bCA$84.1bCA$5.8b19.9x25.4x1.8x
Sat, 19 Aug 2023CA$147.6bCA$84.1bCA$5.9b10x25.2x1.8x
Mon, 17 Jul 2023CA$155.2bCA$81.9bCA$7.2b11.3x21.6x1.9x
Wed, 14 Jun 2023CA$159.4bCA$81.9bCA$7.8b9.7x20.5x1.9x
Fri, 12 May 2023CA$167.4bCA$81.9bCA$7.8b13.2x21.5x2x
Sun, 09 Apr 2023CA$166.3bCA$80.9bCA$8.0b12.9x20.7x2.1x
Tue, 07 Mar 2023CA$162.7bCA$81.2bCA$8.2b14.1x19.7x2x
Thu, 02 Feb 2023CA$167.7bCA$80.1bCA$8.7b16x19.4x2.1x
Sat, 31 Dec 2022CA$156.1bCA$80.1bCA$8.7b12.8x17.9x1.9x
Mon, 28 Nov 2022CA$163.9bCA$80.1bCA$8.8b11.1x18.6x2x
Price to Earnings Ratio

18.6x


Total Market Cap: CA$163.9bTotal Earnings: CA$8.8bTotal Revenue: CA$80.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 25.7x202320242025
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 7.0x which is lower than its 3-year average PE of 25.7x.
  • The 3-year average PS ratio of 1.6x 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 20% 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 Market-1.35%
Telecom-2.67%
Media9.58%
Interactive Media and Services-1.08%
Wireless Telecom-1.10%
Entertainment-2.47%
Telecom Services and Carriers-3.43%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 0.29x.
    • Analysts are expecting annual earnings growth of 33.9%, which is lower than the prior year's growth of 44.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 83% over the next 5 years.
  • However this is lower than its past earnings growth rate of 166% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 39% 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
QBR.A QuebecorCA$52.721.4%
+CA$164.3m		62.2%PE14.6x
RAY.A Stingray GroupCA$14.8011.4%
+CA$102.5m		80.0%PE19.4x
BAMI Blue Ant MediaCA$8.747.9%
+CA$22.0m		n/an/a
VRTS Vertiqal StudiosCA$0.02525.0%
+CA$4.8m		150.0%PS5.1x
Y Yellow PagesCA$11.461.9%
+CA$2.9m		0.2%PE11.9x

Latest News

VRTS
CA$0.025
Vertiqal Studios
7D
25.0%
1Y
150.0%
QYOU
CA$0.033
QYOU Media
7D
-18.8%
1Y
-7.1%
RAY.A
CA$14.80
Stingray Group
7D
11.4%
1Y
80.0%
RCI.B
CA$53.25
Rogers Communications
7D
-1.1%
1Y
8.3%

RCI.B: Sustainable Pricing And Lower Costs Will Support Modest Upside Potential

Rogers Communications’ fair value price target has been modestly raised from $58.69 to $58.93. This reflects analysts’ view that sustainable pricing improvements and lowered costs are supporting a more favorable outlook for the company.
Y
CA$11.46
Yellow Pages
7D
1.9%
1Y
0.2%

Yellow Pages (TSE:Y) Has Affirmed Its Dividend Of CA$0.25

Nov 16
Yellow Pages (TSE:Y) Has Affirmed Its Dividend Of CA$0.25
T
CA$18.84
TELUS
7D
-8.6%
1Y
-11.9%
WILD
CA$1.28
WildBrain
7D
-7.9%
1Y
28.0%
TVA.B
CA$0.55
TVA Group
7D
-16.7%
1Y
-45.0%
BCE
CA$32.37
BCE
7D
-0.1%
1Y
-13.1%

BCE: Share Price Will Benefit From Improved Outlook Through 2028

Analysts have raised their price targets for BCE by approximately C$2 to C$3 per share. This reflects increased confidence in the company's improving growth prospects and balance sheet outlook.
CGO
CA$61.52
Cogeco
7D
0.4%
1Y
2.6%
QBR.A
CA$52.72
Quebecor
7D
1.4%
1Y
62.2%
CGX
CA$11.67
Cineplex
7D
-3.2%
1Y
15.0%
SQG
CA$0.16
Spackman Equities Group
7D
-20.0%
1Y
n/a
DEAL
CA$0.015
Playgon Games
7D
50.0%
1Y
0%
KEEK
CA$3.50
Keeks Social
7D
12.9%
1Y
75.0%
BAMI
CA$8.74
Blue Ant Media
7D
7.9%
1Y
n/a