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Canadian (TSX) Telecom Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies32
  • 7D0.5%
  • 3M-5.7%
  • 1Y1.7%
  • YTD0.7%

Over the last 7 days, the Telecom industry has remained flat, although notably Immutable Holdings gained 19%. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to decline by 21% per year.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025CA$107.4bCA$80.2bCA$15.1b11.8x7.1x1.3x
Sat, 22 Nov 2025CA$105.6bCA$80.0bCA$15.1b8.5x7x1.3x
Mon, 20 Oct 2025CA$108.3bCA$79.7bCA$3.8b11.2x28.2x1.4x
Wed, 17 Sep 2025CA$106.4bCA$79.7bCA$3.8b11.2x28.3x1.3x
Fri, 15 Aug 2025CA$107.1bCA$79.7bCA$3.8b11.1x28.1x1.3x
Sun, 13 Jul 2025CA$104.6bCA$79.6bCA$4.2b12.6x25.2x1.3x
Tue, 10 Jun 2025CA$96.3bCA$79.6bCA$4.1b10.8x23.5x1.2x
Thu, 08 May 2025CA$93.0bCA$79.5bCA$3.7b9.8x25.4x1.2x
Sat, 05 Apr 2025CA$95.3bCA$79.5bCA$3.6b11.4x26.2x1.2x
Mon, 03 Mar 2025CA$101.4bCA$80.2bCA$3.7b10.6x27.3x1.3x
Wed, 29 Jan 2025CA$100.3bCA$79.9bCA$3.3b11.3x30x1.3x
Fri, 27 Dec 2024CA$97.9bCA$79.9bCA$3.3b10.1x29.3x1.2x
Sun, 24 Nov 2024CA$106.3bCA$80.0bCA$3.3b10.1x31.9x1.3x
Tue, 22 Oct 2024CA$119.4bCA$80.2bCA$4.4b10.9x27x1.5x
Thu, 19 Sep 2024CA$120.6bCA$80.2bCA$4.4b9.7x27.4x1.5x
Sat, 17 Aug 2024CA$118.3bCA$80.2bCA$4.4b9.3x26.7x1.5x
Mon, 15 Jul 2024CA$111.0bCA$81.8bCA$3.5b6.7x31.3x1.4x
Wed, 12 Jun 2024CA$115.8bCA$81.8bCA$3.6b8.9x32.3x1.4x
Fri, 10 May 2024CA$116.3bCA$82.0bCA$3.6b9.8x32.2x1.4x
Sun, 07 Apr 2024CA$114.6bCA$81.3bCA$4.0b12.7x29x1.4x
Tue, 05 Mar 2024CA$125.2bCA$81.4bCA$4.0b11.4x31x1.5x
Thu, 01 Feb 2024CA$153.6bCA$85.4bCA$5.0b12.4x31x1.8x
Sat, 30 Dec 2023CA$148.9bCA$85.4bCA$5.0b12.9x29.8x1.7x
Mon, 27 Nov 2023CA$149.0bCA$85.4bCA$5.0b12.3x29.8x1.7x
Wed, 25 Oct 2023CA$139.1bCA$84.1bCA$5.8b10.3x23.9x1.7x
Fri, 22 Sep 2023CA$145.2bCA$84.1bCA$5.8b11.2x25x1.7x
Sun, 20 Aug 2023CA$147.1bCA$84.1bCA$5.9b10x25.1x1.7x
Tue, 18 Jul 2023CA$155.2bCA$81.9bCA$7.2b11.2x21.6x1.9x
Thu, 15 Jun 2023CA$158.3bCA$81.9bCA$7.8b9.9x20.3x1.9x
Sat, 13 May 2023CA$167.5bCA$81.7bCA$7.8b12.8x21.4x2x
Mon, 10 Apr 2023CA$166.3bCA$80.9bCA$8.0b12.9x20.7x2.1x
Wed, 08 Mar 2023CA$161.7bCA$81.2bCA$8.3b14.1x19.6x2x
Fri, 03 Feb 2023CA$165.8bCA$80.1bCA$8.7b16.2x19.1x2.1x
Sun, 01 Jan 2023CA$155.7bCA$80.1bCA$8.7b12.8x17.8x1.9x
Price to Earnings Ratio

17.8x


Total Market Cap: CA$155.7bTotal Earnings: CA$8.7bTotal Revenue: CA$80.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 25.3x202320242025
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 6.7x which is lower than its 3-year average PE of 25.3x.
  • 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 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 Market2.21%
Telecom0.54%
Interactive Media and Services17.77%
Entertainment16.62%
Media2.25%
Telecom Services and Carriers-0.41%
Wireless Telecom-0.88%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 12.4x.
    • Analysts are expecting annual earnings growth of 33.9%, which is higher than its past year's earnings growth of 24.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Interactive Media and Services industry, expecting annual earnings growth of 90% over the next 5 years.
  • This is better than its past earnings decline of 62% 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
HOLD Immutable HoldingsCA$0.09518.8%
+CA$983.1m		-20.8%PS2075459397.4x
T TELUSCA$17.500.3%
+CA$93.1m		-10.0%PE23x
WILD WildBrainCA$1.8030.4%
+CA$89.7m		9.1%PS0.7x
QBR.A QuebecorCA$51.940.6%
+CA$72.9m		67.2%PE14.4x
RAY.A Stingray GroupCA$14.422.1%
+CA$19.7m		94.6%PE18.9x

Latest News

HOLD
CA$0.095
Immutable Holdings
7D
18.8%
1Y
-20.8%
WILD
CA$1.80
WildBrain
7D
30.4%
1Y
9.1%
T
CA$17.50
TELUS
7D
0.3%
1Y
-10.0%
RAY.A
CA$14.42
Stingray Group
7D
2.1%
1Y
94.6%
RCI.B
CA$50.85
Rogers Communications
7D
-0.9%
1Y
16.1%

RCI.B: Sustainable Pricing And 2025 EBITDA Expectations Will Support Upside Outlook

Analysts have nudged their price targets on Rogers Communications modestly higher, with aggregate fair value estimates edging up by about $0.40 per share as they factor in sustainable pricing improvements, slightly stronger revenue growth, and higher 2025 EBITDA expectations, despite a marginally lower profit margin outlook. Analyst Commentary Recent Street research reflects a broadly constructive stance on Rogers Communications, with a series of incremental price target increases in both U.S. dollar and Canadian dollar terms.
EGLX
CA$0.04
Enthusiast Gaming Holdings
7D
-11.1%
1Y
-72.4%

The Market Doesn't Like What It Sees From Enthusiast Gaming Holdings Inc.'s (TSE:EGLX) Revenues Yet As Shares Tumble 31%

Dec 17
The Market Doesn't Like What It Sees From Enthusiast Gaming Holdings Inc.'s (TSE:EGLX) Revenues Yet As Shares Tumble 31%
CCA
CA$66.07
Cogeco Communications
7D
-0.6%
1Y
-0.1%
GVC
CA$0.24
Glacier Media
7D
20.0%
1Y
29.7%

Revenues Not Telling The Story For Glacier Media Inc. (TSE:GVC) After Shares Rise 31%

Dec 16
Revenues Not Telling The Story For Glacier Media Inc. (TSE:GVC) After Shares Rise 31%
BCE
CA$31.44
BCE
7D
-1.5%
1Y
-4.5%
CGX
CA$10.70
Cineplex
7D
-0.5%
1Y
-14.1%

A Look At The Intrinsic Value Of Cineplex Inc. (TSE:CGX)

Dec 06
A Look At The Intrinsic Value Of Cineplex Inc. (TSE:CGX)
QBR.A
CA$51.94
Quebecor
7D
0.6%
1Y
67.2%

Quebecor Inc.'s (TSE:QBR.A) Business Is Trailing The Market But Its Shares Aren't

Dec 02
Quebecor Inc.'s (TSE:QBR.A) Business Is Trailing The Market But Its Shares Aren't
SQG
CA$0.22
Spackman Equities Group
7D
37.5%
1Y
-94.8%
INIK
CA$0.06
Ionik
7D
-7.7%
1Y
-40.0%
VRTS
CA$0.025
Vertiqal Studios
7D
25.0%
1Y
150.0%
TGO
CA$0.60
TeraGo
7D
-3.2%
1Y
-50.8%
KEEK
CA$2.92
Keeks Social
7D
-11.8%
1Y
46.0%