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Canadian (TSX) Telecom Sector Analysis

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies30
  • 7D1.0%
  • 3M-4.7%
  • 1Y4.3%
  • YTD-1.2%

In the last week, the Telecom industry is up 1.0%, with Rogers Communications leading the way, up 2.3%. This means that the industry has gained 4.3% over the past year. In the next few years, earnings are forecast to decline by 7.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 May 2026CA$103.8bCA$81.3bCA$15.5b7.1x6.7x1.3x
Fri, 10 Apr 2026CA$102.1bCA$80.7bCA$15.4b9.3x6.6x1.3x
Sun, 08 Mar 2026CA$110.9bCA$80.7bCA$15.4b9.6x7.2x1.4x
Tue, 03 Feb 2026CA$106.9bCA$80.7bCA$15.2b11.2x7x1.3x
Thu, 01 Jan 2026CA$103.2bCA$80.2bCA$15.1b11.5x6.8x1.3x
Sat, 29 Nov 2025CA$105.8bCA$80.2bCA$15.1b10.3x7x1.3x
Mon, 27 Oct 2025CA$108.8bCA$79.9bCA$9.1b9.7x12x1.4x
Wed, 24 Sep 2025CA$104.6bCA$79.7bCA$3.8b11.5x27.8x1.3x
Fri, 22 Aug 2025CA$109.8bCA$79.7bCA$3.8b11.1x29.1x1.4x
Sun, 20 Jul 2025CA$103.4bCA$79.6bCA$4.2b12.5x24.9x1.3x
Tue, 17 Jun 2025CA$97.5bCA$79.6bCA$4.2b11x23.4x1.2x
Thu, 15 May 2025CA$95.4bCA$79.6bCA$4.1b9.4x23.2x1.2x
Sat, 12 Apr 2025CA$89.6bCA$79.5bCA$3.6b10.5x24.8x1.1x
Mon, 10 Mar 2025CA$105.4bCA$80.2bCA$3.7b10.5x28.4x1.3x
Wed, 05 Feb 2025CA$100.4bCA$80.0bCA$3.6b11x27.9x1.3x
Fri, 03 Jan 2025CA$98.5bCA$79.9bCA$3.3b10.7x29.5x1.2x
Sun, 01 Dec 2024CA$108.3bCA$80.0bCA$3.3b10.8x32.5x1.4x
Tue, 29 Oct 2024CA$116.7bCA$80.3bCA$5.0b11.3x23.2x1.5x
Thu, 26 Sep 2024CA$120.2bCA$80.2bCA$4.4b9.8x27.3x1.5x
Sat, 24 Aug 2024CA$117.9bCA$80.2bCA$4.4b9.4x26.6x1.5x
Mon, 22 Jul 2024CA$113.9bCA$80.4bCA$4.0b7.7x28.7x1.4x
Wed, 19 Jun 2024CA$112.4bCA$81.8bCA$3.5b8.6x31.8x1.4x
Fri, 17 May 2024CA$118.0bCA$81.9bCA$3.6b9.9x33.1x1.4x
Sun, 14 Apr 2024CA$115.2bCA$81.3bCA$3.9b12.5x29.2x1.4x
Tue, 12 Mar 2024CA$124.7bCA$81.4bCA$4.0b11.3x30.9x1.5x
Thu, 08 Feb 2024CA$130.4bCA$81.0bCA$4.2b12.3x31.2x1.6x
Sat, 06 Jan 2024CA$152.1bCA$85.4bCA$5.0b12.8x30.4x1.8x
Mon, 04 Dec 2023CA$152.1bCA$85.4bCA$5.0b12.4x30.4x1.8x
Wed, 01 Nov 2023CA$140.0bCA$84.1bCA$6.2b10.4x22.5x1.7x
Fri, 29 Sep 2023CA$141.1bCA$84.1bCA$5.8b10.6x24.3x1.7x
Sun, 27 Aug 2023CA$148.9bCA$84.1bCA$5.9b10.2x25.4x1.8x
Tue, 25 Jul 2023CA$155.9bCA$81.9bCA$7.2b11.2x21.7x1.9x
Thu, 22 Jun 2023CA$157.4bCA$81.9bCA$7.8b9.5x20.2x1.9x
Sat, 20 May 2023CA$166.7bCA$81.8bCA$7.8b13.4x21.3x2x
Price to Earnings Ratio

21.3x


Total Market Cap: CA$166.7bTotal Earnings: CA$7.8bTotal Revenue: CA$81.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Sector Price to Earnings3Y Average 23.7x202420252026
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 23.7x.
  • 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 26% 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 Market2.34%
Telecom1.04%
Wireless Telecom2.27%
Interactive Media and Services2.17%
Telecom Services and Carriers0.66%
Media-1.50%
Entertainment-3.71%
Industry PE
  • Investors are most optimistic about the Media industry even though it's trading below its 3-year average PE ratio of 23.3x.
    • Analysts are expecting annual earnings growth of 42.6%, which is higher than its past year's earnings decline of 50.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 115% over the next 5 years.
  • In contrast, the Wireless Telecom industry is expected to see its earnings decline by 30% 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$33.532.1%
+CA$652.8m		9.5%PE5x
T TELUSCA$17.220.2%
+CA$280.3m		-21.2%PE29.2x
QBR.A QuebecorCA$56.750.4%
+CA$27.4m		45.4%PE14.9x
TVA.B TVA GroupCA$1.2638.5%
+CA$15.1m		121.1%PE3.7x
BAMI Blue Ant MediaCA$5.943.3%
+CA$5.3m		n/aPE38.2x

Latest News

CGX
CA$10.89
Cineplex
7D
-2.8%
1Y
7.6%
TVA.B
CA$1.26
TVA Group
7D
38.5%
1Y
121.1%
T
CA$17.22
TELUS
7D
0.2%
1Y
-21.2%
BCE
CA$33.53
BCE
7D
2.1%
1Y
9.5%
Narrative Update • May 11

BCE: Data Center Expansion And Price Competition Will Shape Future Risk Balance

Analysts have modestly lifted their average price target on BCE to about CA$41, citing updated models that reflect slightly lower growth expectations, a small adjustment to the discount rate, steady profit margins, and Street research highlighting the potential contribution from BCE's newly announced 300 MW data center project. Analyst Commentary Recent research on BCE shows a mixed backdrop, with some firms lifting price targets around CA$41 while others flag risks around competition and execution.
WILD
CA$1.35
WildBrain
7D
-1.5%
1Y
-33.8%
INIK
CA$0.05
Ionik
7D
-9.1%
1Y
-50.0%
DEAL
CA$0.005
Playgon Games
7D
-50.0%
1Y
-50.0%
KEEK
CA$2.50
Keeks Social
7D
31.6%
1Y
11.1%
RCI.B
CA$49.79
Rogers Communications
7D
-0.2%
1Y
40.6%
Narrative Update • May 04

RCI.B: Future Returns Will Hinge On Execution Of Cost Cuts And New Services

Rogers Communications' analyst price targets have edged higher, with recent increases of between CA$2 and CA$4.50. These changes are supported by analysts updating their earnings and cash flow assumptions and slightly adjusting discount rate and P/E expectations.
FORA
CA$2.84
VerticalScope Holdings
7D
7.6%
1Y
-42.6%
RAY
CA$14.01
Stingray Group
7D
-5.3%
1Y
59.6%
QBR.A
CA$56.75
Quebecor
7D
0.4%
1Y
45.4%
EGLX
CA$0.035
Enthusiast Gaming Holdings
7D
-30.0%
1Y
-50.0%
BAMI
CA$5.94
Blue Ant Media
7D
3.3%
1Y
n/a
CGO
CA$62.11
Cogeco
7D
-1.4%
1Y
-2.0%
Y
CA$13.35
Yellow Pages
7D
2.7%
1Y
19.0%