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Canadian (TSX) Telecom Sector Analysis

UpdatedDec 02, 2025
DataAggregated Company Financials
Companies32
  • 7D0.2%
  • 3M-2.1%
  • 1Y-4.2%
  • YTD6.4%

The Telecom industry has stayed flat over the last week. Unfortunately though, the industry is down 4.2% over the past 12 months. 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
Tue, 02 Dec 2025CA$106.2bCA$80.2bCA$15.1b11.7x7x1.3x
Thu, 30 Oct 2025CA$108.4bCA$79.9bCA$9.1b9.4x11.9x1.4x
Sat, 27 Sep 2025CA$104.9bCA$79.7bCA$3.8b10.9x27.3x1.3x
Mon, 25 Aug 2025CA$109.6bCA$79.7bCA$3.8b11.6x29.1x1.4x
Wed, 23 Jul 2025CA$104.1bCA$79.6bCA$4.2b12.2x25.1x1.3x
Fri, 20 Jun 2025CA$96.7bCA$79.6bCA$4.2b11x23.3x1.2x
Sun, 18 May 2025CA$95.6bCA$79.6bCA$4.1b10x23.3x1.2x
Tue, 15 Apr 2025CA$90.2bCA$79.5bCA$3.6b10.8x24.9x1.1x
Thu, 13 Mar 2025CA$104.9bCA$80.2bCA$3.7b11x28.2x1.3x
Sat, 08 Feb 2025CA$98.4bCA$80.0bCA$3.6b10.7x27.3x1.2x
Mon, 06 Jan 2025CA$100.7bCA$79.9bCA$3.3b10.7x30.2x1.3x
Wed, 04 Dec 2024CA$109.0bCA$80.0bCA$3.3b11.8x32.7x1.4x
Fri, 01 Nov 2024CA$116.3bCA$80.3bCA$5.0b11.2x23.1x1.4x
Sun, 29 Sep 2024CA$120.9bCA$80.2bCA$4.4b10x27.4x1.5x
Tue, 27 Aug 2024CA$118.8bCA$80.2bCA$4.4b9.4x26.8x1.5x
Thu, 25 Jul 2024CA$113.5bCA$80.4bCA$4.0b7.6x28.6x1.4x
Sat, 22 Jun 2024CA$112.3bCA$81.8bCA$3.5b8.4x31.7x1.4x
Mon, 20 May 2024CA$117.7bCA$81.8bCA$3.6b10.1x32.8x1.4x
Wed, 17 Apr 2024CA$113.4bCA$81.2bCA$3.9b12.5x28.7x1.4x
Fri, 15 Mar 2024CA$122.0bCA$81.4bCA$4.1b11.2x30x1.5x
Sun, 11 Feb 2024CA$127.2bCA$81.0bCA$4.0b12.5x31.4x1.6x
Tue, 09 Jan 2024CA$152.5bCA$85.4bCA$5.0b13.4x30.5x1.8x
Thu, 07 Dec 2023CA$154.9bCA$85.5bCA$5.0b11.9x31x1.8x
Sat, 04 Nov 2023CA$148.5bCA$84.6bCA$5.7b11.4x25.8x1.8x
Mon, 02 Oct 2023CA$141.5bCA$84.1bCA$5.8b10.6x24.3x1.7x
Wed, 30 Aug 2023CA$152.5bCA$84.1bCA$5.9b10.4x26x1.8x
Fri, 28 Jul 2023CA$154.6bCA$83.0bCA$6.9b11.2x22.4x1.9x
Sun, 25 Jun 2023CA$156.3bCA$81.9bCA$7.8b9.4x20.1x1.9x
Tue, 23 May 2023CA$166.6bCA$81.8bCA$7.8b13.4x21.3x2x
Thu, 20 Apr 2023CA$168.3bCA$80.8bCA$8.0b13.4x21x2.1x
Sat, 18 Mar 2023CA$158.4bCA$81.2bCA$8.1b13.3x19.6x2x
Mon, 13 Feb 2023CA$162.7bCA$81.2bCA$8.3b15.9x19.7x2x
Wed, 11 Jan 2023CA$162.0bCA$80.1bCA$8.7b13.8x18.5x2x
Fri, 09 Dec 2022CA$162.1bCA$80.1bCA$8.7b13.4x18.5x2x
Price to Earnings Ratio

18.5x


Total Market Cap: CA$162.1bTotal Earnings: CA$8.7bTotal Revenue: CA$80.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 25.6x202320242025
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 25.6x.
  • 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 Market2.23%
Telecom0.20%
Entertainment8.35%
Wireless Telecom1.22%
Telecom Services and Carriers-0.22%
Media-1.43%
Interactive Media and Services-4.01%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 7.2x.
    • 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 91% 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 40% 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$32.911.4%
+CA$410.3m		-14.4%PE5x
RCI.B Rogers CommunicationsCA$54.540.6%
+CA$162.1m		8.1%PE4.4x
CGX CineplexCA$12.373.5%
+CA$26.6m		5.8%PS0.6x
TBRD Thunderbird Entertainment GroupCA$1.5733.1%
+CA$19.2m		-12.8%PE18.3x
INIK IonikCA$0.1025.0%
+CA$7.2m		-4.8%PS0.1x

Latest News

QBR.A
CA$51.95
Quebecor
7D
-1.0%
1Y
43.3%

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
RCI.B
CA$54.54
Rogers Communications
7D
0.6%
1Y
8.1%
EAGR
CA$0.35
East Side Games Group
7D
-10.3%
1Y
-43.5%
CCA
CA$67.35
Cogeco Communications
7D
-1.2%
1Y
-6.6%

CCA: Dividend Increase And Québec Rollout Will Drive Steady Performance Ahead

Analysts have increased their price target for Cogeco Communications by C$0.50 to C$75.50, reflecting updated estimates for discount rate and profit margin. Analyst Commentary Analyst perspectives on Cogeco Communications reflect a balanced view, with recent adjustments to the price target incorporating both supportive and cautionary factors related to the company's outlook.
BAMI
CA$8.64
Blue Ant Media
7D
5.4%
1Y
n/a
INIK
CA$0.10
Ionik
7D
25.0%
1Y
-4.8%
TBRD
CA$1.57
Thunderbird Entertainment Group
7D
33.1%
1Y
-12.8%
BCE
CA$32.91
BCE
7D
1.4%
1Y
-14.4%

BCE: Share Price Will Rise On Improved Outlook And Recent Upgrades

The analyst price target for BCE has increased modestly, with several firms now seeing improved growth prospects and balance sheet strength. This has led to higher targets such as C$37 from C$35, as analysts cite greater confidence in the company's outlook through 2028.
ICGH
CA$0.49
IC Group Holdings
7D
22.5%
1Y
n/a
RAY.A
CA$14.85
Stingray Group
7D
-0.5%
1Y
88.0%
EQ
CA$0.97
EQ
7D
2.1%
1Y
-10.2%
CGX
CA$12.37
Cineplex
7D
3.5%
1Y
5.8%
T
CA$18.12
TELUS
7D
-0.9%
1Y
-17.8%

T: Rising Discount Rate Will Drive Long-Term Opportunity With New Developments

Analyst Price Target for TELUS Adjusted Slightly Lower Analysts have revised their fair value estimate for TELUS, reducing the price target from $23.38 to $22.97. This change is due to updated assumptions regarding discount rates and future profitability.
Y
CA$11.21
Yellow Pages
7D
-6.6%
1Y
-4.4%

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
CGO
CA$63.85
Cogeco
7D
-0.5%
1Y
1.0%
TNJ
CA$0.06
Boba Mint Holdings
7D
20.0%
1Y
20.0%