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Canadian (TSX) Telecom Sector Analysis

UpdatedAug 11, 2026
DataAggregated Company Financials
Companies28
  • 7D1.3%
  • 3M-6.1%
  • 1Y-7.9%
  • YTD-7.0%

Over the last 7 days, the Telecom industry has risen 1.8%, driven by gains from BCE of 4.1%. In the past year, the industry is down 7.3%. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 11 Aug 2026CA$97.7bCA$81.8bCA$11.0b4.7x8.9x1.2x
Thu, 09 Jul 2026CA$97.8bCA$81.3bCA$15.5b7.6x6.3x1.2x
Sat, 06 Jun 2026CA$107.5bCA$81.3bCA$15.5b8x6.9x1.3x
Mon, 04 May 2026CA$101.9bCA$81.1bCA$15.7b8.4x6.5x1.3x
Wed, 01 Apr 2026CA$108.4bCA$80.7bCA$15.4b8.6x7x1.3x
Fri, 27 Feb 2026CA$109.2bCA$80.6bCA$15.4b10.1x7.1x1.4x
Sun, 25 Jan 2026CA$106.3bCA$80.2bCA$15.1b11.9x7x1.3x
Tue, 23 Dec 2025CA$101.0bCA$80.2bCA$15.1b11.7x6.7x1.3x
Thu, 20 Nov 2025CA$106.1bCA$80.0bCA$15.1b8.6x7x1.3x
Sat, 18 Oct 2025CA$107.0bCA$79.7bCA$3.8b11.2x27.8x1.3x
Mon, 15 Sep 2025CA$107.3bCA$79.7bCA$3.8b11.6x28.5x1.3x
Wed, 13 Aug 2025CA$104.8bCA$79.7bCA$3.8b11.1x27.4x1.3x
Fri, 11 Jul 2025CA$104.0bCA$79.6bCA$4.2b12.6x25.1x1.3x
Sun, 08 Jun 2025CA$96.3bCA$79.6bCA$4.1b11.1x23.5x1.2x
Tue, 06 May 2025CA$92.3bCA$79.6bCA$3.7b10.7x25.3x1.2x
Thu, 03 Apr 2025CA$95.7bCA$79.5bCA$3.6b11.2x26.3x1.2x
Sat, 01 Mar 2025CA$101.9bCA$80.2bCA$3.7b10.6x27.5x1.3x
Mon, 27 Jan 2025CA$97.4bCA$79.9bCA$3.3b10.8x29.1x1.2x
Wed, 25 Dec 2024CA$97.9bCA$79.9bCA$3.3b10.1x29.3x1.2x
Fri, 22 Nov 2024CA$107.1bCA$80.0bCA$3.3b10.6x32.1x1.3x
Sun, 20 Oct 2024CA$119.4bCA$80.2bCA$4.4b11x27x1.5x
Tue, 17 Sep 2024CA$121.9bCA$80.2bCA$4.4b9.8x27.4x1.5x
Thu, 15 Aug 2024CA$118.9bCA$80.3bCA$4.5b9.3x26.3x1.5x
Sat, 13 Jul 2024CA$110.2bCA$81.8bCA$3.5b6.7x31.1x1.3x
Mon, 10 Jun 2024CA$117.7bCA$81.8bCA$3.6b8.9x32.8x1.4x
Wed, 08 May 2024CA$115.8bCA$81.8bCA$3.6b10.3x31.8x1.4x
Fri, 05 Apr 2024CA$114.0bCA$81.3bCA$4.0b12.4x28.8x1.4x
Sun, 03 Mar 2024CA$126.5bCA$81.4bCA$4.0b11.4x31.3x1.6x
Tue, 30 Jan 2024CA$154.3bCA$85.4bCA$5.0b14.9x31.1x1.8x
Thu, 28 Dec 2023CA$148.1bCA$85.4bCA$5.0b12.7x29.6x1.7x
Sat, 25 Nov 2023CA$149.1bCA$85.4bCA$5.0b12.3x29.8x1.7x
Mon, 23 Oct 2023CA$138.7bCA$84.1bCA$5.8b10.5x23.8x1.6x
Wed, 20 Sep 2023CA$147.2bCA$84.1bCA$5.8b11.3x25.4x1.8x
Fri, 18 Aug 2023CA$148.9bCA$84.1bCA$5.9b10.1x25.4x1.8x
Price to Earnings Ratio

25.4x


Total Market Cap: CA$148.9bTotal Earnings: CA$5.9bTotal Revenue: CA$84.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 22.5x202420252026
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 8.9x which is lower than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.2x.
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 Market2.57%
Telecom1.33%
Interactive Media and Services3.85%
Entertainment2.10%
Wireless Telecom1.81%
Telecom Services and Carriers1.16%
Media-0.32%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 86.9%, which is higher than its past year's earnings decline of 58.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Interactive Media and Services industry, expecting annual earnings growth of 91% over the next 5 years.
  • This is better than its past earnings growth rate of 25% per year.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 23% 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
BCE BCECA$31.383.2%
+CA$904.6m		-6.6%PE4.7x
RCI.B Rogers CommunicationsCA$48.321.8%
+CA$464.6m		3.5%PE4.2x
CCA Cogeco CommunicationsCA$59.570.8%
+CA$19.7m		-3.6%PS0.9x
TVA.B TVA GroupCA$2.7619.5%
+CA$19.4m		300.0%PE2.4x
WILD WildBrainCA$1.414.4%
+CA$12.7m		-21.7%PS0.6x

Latest News

RAY
CA$15.41
Stingray Group
7D
-2.5%
1Y
56.4%
QBR.A
CA$69.00
Quebecor
7D
-0.6%
1Y
81.6%
RCI.B
CA$48.32
Rogers Communications
7D
1.8%
1Y
3.5%
BCE
CA$31.38
BCE
7D
3.2%
1Y
-6.6%
Narrative Update • Aug 08

BCE: AI And Data Center Pivot Will Balance Dividend And Competition Risks

Analysts trimmed the BCE fair value estimate to CA$32.00 from CA$33.00 as they updated models for slightly softer revenue growth assumptions, a modestly higher discount rate, and a lower future P/E, while still recognizing stable profit margins, as highlighted in recent price target changes and research views across the Canadian telecom sector. Analyst Commentary Recent research on BCE shows a mix of opinions, with some firms lifting targets while others trim expectations or flag ongoing sector challenges.
ILLM
CA$0.79
illumin Holdings
7D
31.7%
1Y
-49.0%
T
CA$13.36
TELUS
7D
-0.1%
1Y
-39.5%
Narrative Update • Aug 04

T: Deleveraging Plan And Dividend Reset Will Support Future Upside Potential

Analysts have trimmed their TELUS price target from CA$20.28 to CA$16.50 as they factor in more subdued revenue growth expectations, slightly lower profit margins and a modestly higher discount rate, while keeping future P/E assumptions broadly similar. What's in the News for TELUS Telus reported a Q2 2026 loss of $1.8b and a 27% decline in adjusted earnings, and cut its quarterly dividend by 55% to $0.1875 per share to support debt reduction and a revised growth plan.
TVA.B
CA$2.76
TVA Group
7D
19.5%
1Y
300.0%
INIK
CA$0.06
Ionik
7D
20.0%
1Y
-52.0%
CCA
CA$59.57
Cogeco Communications
7D
0.8%
1Y
-3.6%
CGO
CA$57.68
Cogeco
7D
-1.0%
1Y
0.6%
CGX
CA$12.63
Cineplex
7D
-2.2%
1Y
22.3%
BAMI
CA$5.07
Blue Ant Media
7D
-2.5%
1Y
-40.4%
WILD
CA$1.41
WildBrain
7D
4.4%
1Y
-21.7%
Narrative Update • Jun 22

WILD: Share Buyback Will Support Future Upside Despite Softer Outlook

WildBrain's analyst price target has been revised to CA$2.00, with analysts pointing to updated assumptions for the discount rate, revenue growth, profit margin, and future P/E as the key drivers behind this recalibration. What's in the News for WildBrain The Board of Directors of WildBrain Ltd.
RSS
CA$0.38
RESAAS Services
7D
-12.6%
1Y
33.3%
DEAL
CA$0.01
Playgon Games
7D
100.0%
1Y
-33.3%
EGLX
CA$0.045
Enthusiast Gaming Holdings
7D
-18.2%
1Y
-62.5%