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Canadian (TSX) Telecom Sector Analysis

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies32
  • 7D-0.02%
  • 3M-2.3%
  • 1Y-2.3%
  • YTD6.6%

Over the last 7 days, the Telecom industry has remained flat, although notably TELUS declined by 4.2%. Furthermore, the industry has been flat for the past year as well. In the next few years, earnings are forecast to decline by 20% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 27 Nov 2025CA$106.2bCA$80.0bCA$15.1b8.5x7x1.3x
Sat, 25 Oct 2025CA$108.3bCA$79.9bCA$9.1b9.7x11.9x1.4x
Mon, 22 Sep 2025CA$105.0bCA$79.7bCA$3.8b11.5x27.9x1.3x
Wed, 20 Aug 2025CA$109.1bCA$79.7bCA$3.8b11.1x28.9x1.4x
Fri, 18 Jul 2025CA$105.0bCA$79.6bCA$4.2b12.4x25.3x1.3x
Sun, 15 Jun 2025CA$97.5bCA$79.6bCA$4.2b10.9x23.4x1.2x
Tue, 13 May 2025CA$97.3bCA$79.6bCA$4.1b9.9x23.7x1.2x
Thu, 10 Apr 2025CA$90.1bCA$79.5bCA$3.6b10.6x24.7x1.1x
Sat, 08 Mar 2025CA$103.8bCA$80.2bCA$3.7b10.5x27.9x1.3x
Mon, 03 Feb 2025CA$100.4bCA$80.0bCA$3.6b11.1x27.9x1.3x
Wed, 01 Jan 2025CA$96.9bCA$79.9bCA$3.3b10.7x29x1.2x
Fri, 29 Nov 2024CA$107.7bCA$80.0bCA$3.3b10.4x32.3x1.3x
Sun, 27 Oct 2024CA$116.7bCA$80.3bCA$5.0b11.2x23.2x1.5x
Tue, 24 Sep 2024CA$120.9bCA$80.2bCA$4.4b9.7x27.4x1.5x
Thu, 22 Aug 2024CA$117.6bCA$80.2bCA$4.4b9.4x26.6x1.5x
Sat, 20 Jul 2024CA$114.4bCA$80.4bCA$4.0b7.7x28.8x1.4x
Mon, 17 Jun 2024CA$113.2bCA$81.8bCA$3.5b8.7x32x1.4x
Wed, 15 May 2024CA$117.0bCA$81.9bCA$3.6b9.9x32.9x1.4x
Fri, 12 Apr 2024CA$115.3bCA$81.3bCA$4.0b12.8x29.2x1.4x
Sun, 10 Mar 2024CA$124.5bCA$81.4bCA$4.0b11.2x30.9x1.5x
Tue, 06 Feb 2024CA$129.9bCA$81.1bCA$4.1b11.9x31.9x1.6x
Thu, 04 Jan 2024CA$152.1bCA$85.4bCA$5.0b12.9x30.4x1.8x
Sat, 02 Dec 2023CA$148.9bCA$85.4bCA$5.0b12.4x29.8x1.7x
Mon, 30 Oct 2023CA$138.5bCA$84.1bCA$6.2b10.1x22.2x1.6x
Wed, 27 Sep 2023CA$142.4bCA$84.1bCA$5.8b11.3x24.5x1.7x
Fri, 25 Aug 2023CA$148.8bCA$84.1bCA$5.9b10.1x25.4x1.8x
Sun, 23 Jul 2023CA$156.3bCA$81.9bCA$7.2b11x21.7x1.9x
Tue, 20 Jun 2023CA$158.5bCA$81.9bCA$7.8b9.9x20.4x1.9x
Thu, 18 May 2023CA$166.1bCA$81.8bCA$7.8b10.1x21.2x2x
Sat, 15 Apr 2023CA$168.0bCA$80.9bCA$8.0b12.6x21.1x2.1x
Mon, 13 Mar 2023CA$158.2bCA$81.2bCA$8.1b14.4x19.5x1.9x
Wed, 08 Feb 2023CA$164.7bCA$80.6bCA$8.7b14.9x19x2x
Fri, 06 Jan 2023CA$161.2bCA$80.1bCA$8.7b13.1x18.4x2x
Sun, 04 Dec 2022CA$164.7bCA$80.1bCA$8.7b13.4x18.8x2.1x
Price to Earnings Ratio

18.8x


Total Market Cap: CA$164.7bTotal Earnings: CA$8.7bTotal Revenue: CA$80.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 25.6x202320242025
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 Market2.60%
Telecom-0.022%
Wireless Telecom1.89%
Entertainment1.35%
Interactive Media and Services0.71%
Media-0.29%
Telecom Services and Carriers-0.77%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 1.5x.
    • Analysts are expecting annual earnings growth of 33.9%, which is lower than the prior year's growth of 46.2% 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
RCI.B Rogers CommunicationsCA$54.951.9%
+CA$551.0m		10.4%PE4.4x
BCE BCECA$32.601.7%
+CA$494.2m		-14.0%PE4.9x
QBR.A QuebecorCA$52.770.7%
+CA$79.9m		65.0%PE14.6x
CCA Cogeco CommunicationsCA$67.242.5%
+CA$68.2m		0.5%PE8.8x
CGX CineplexCA$12.333.1%
+CA$23.5m		14.4%PS0.6x

Latest News

TBRD
CA$1.51
Thunderbird Entertainment Group
7D
37.3%
1Y
-17.5%
OAM
CA$0.31
OverActive Media
7D
-6.1%
1Y
26.5%
BAMI
CA$8.23
Blue Ant Media
7D
-5.8%
1Y
n/a
SBIO
CA$0.30
Sabio Holdings
7D
-23.1%
1Y
-38.8%
RAY.A
CA$14.80
Stingray Group
7D
-0.9%
1Y
85.7%
CGX
CA$12.33
Cineplex
7D
3.1%
1Y
14.4%
VRTS
CA$0.02
Vertiqal Studios
7D
-20.0%
1Y
33.3%
T
CA$18.22
TELUS
7D
-4.2%
1Y
-16.2%

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.
RCI.B
CA$54.95
Rogers Communications
7D
1.9%
1Y
10.4%

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.
WILD
CA$1.44
WildBrain
7D
5.9%
1Y
41.2%
CCA
CA$67.24
Cogeco Communications
7D
2.5%
1Y
0.5%

CCA: Dividend Growth and Québec Expansion Will Drive Share Performance Ahead

Narrative Update on Cogeco Communications Analysts have slightly lowered their price target for Cogeco Communications, reducing it from $74.09 to $73.36. This change is attributed to minor adjustments to revenue growth projections and profit margin estimates.
BCE
CA$32.60
BCE
7D
1.7%
1Y
-14.0%

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$63.28
Cogeco
7D
3.7%
1Y
6.5%
QBR.A
CA$52.77
Quebecor
7D
0.7%
1Y
65.0%
SQG
CA$0.13
Spackman Equities Group
7D
-21.2%
1Y
n/a
DEAL
CA$0.015
Playgon Games
7D
-25.0%
1Y
50.0%