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Canadian (TSX) Telecom Services and Carriers Industry Analysis

UpdatedApr 17, 2026
DataAggregated Company Financials
Companies7
  • 7D1.5%
  • 3M-3.2%
  • 1Y0.8%
  • YTD-0.8%

Over the last 7 days, the Telecom Services and Carriers industry has risen 1.5%, driven by gains from TELUS of 4.1%. Meanwhile, Cogeco Communications actually underperformed within the industry, shrinking 5.1% in the last week. Overall in the last year, the industry is flat. As for the next few years, earnings are forecast to decline by 2.5% per annum.

Industry Valuation and Performance

Has the Canadian Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 17 Apr 2026CA$73.0bCA$56.3bCA$8.7b8.4x8.4x1.3x
Sun, 15 Mar 2026CA$77.8bCA$56.4bCA$8.7b9.6x9x1.4x
Tue, 10 Feb 2026CA$77.0bCA$56.4bCA$8.7b9.1x8.9x1.4x
Thu, 08 Jan 2026CA$73.6bCA$56.5bCA$8.6b8.7x8.6x1.3x
Sat, 06 Dec 2025CA$74.3bCA$56.5bCA$8.6b8.8x8.7x1.3x
Mon, 03 Nov 2025CA$74.9bCA$56.4bCA$2.6b13.1x29x1.3x
Wed, 01 Oct 2025CA$77.0bCA$56.4bCA$2.6b13.4x29.7x1.4x
Fri, 29 Aug 2025CA$79.9bCA$56.4bCA$2.6b12.4x30.9x1.4x
Sun, 27 Jul 2025CA$77.8bCA$56.2bCA$2.8b12.3x28.2x1.4x
Tue, 24 Jun 2025CA$74.7bCA$56.3bCA$2.8b12.4x27.1x1.3x
Thu, 22 May 2025CA$73.9bCA$56.3bCA$2.8b11.6x26.8x1.3x
Sat, 19 Apr 2025CA$71.3bCA$56.3bCA$2.3b11.6x31x1.3x
Mon, 17 Mar 2025CA$75.5bCA$56.2bCA$2.3b11.2x32.4x1.3x
Wed, 12 Feb 2025CA$72.8bCA$56.7bCA$2.2b9.7x33.1x1.3x
Fri, 10 Jan 2025CA$73.2bCA$56.8bCA$2.2b9.5x33.4x1.3x
Sun, 08 Dec 2024CA$80.7bCA$56.8bCA$2.2b10.2x36.8x1.4x
Tue, 05 Nov 2024CA$86.1bCA$56.9bCA$3.9b10x21.9x1.5x
Thu, 03 Oct 2024CA$89.5bCA$56.9bCA$3.9b10.1x22.7x1.6x
Sat, 31 Aug 2024CA$86.9bCA$56.9bCA$3.9b9.3x22.1x1.5x
Mon, 29 Jul 2024CA$85.5bCA$57.0bCA$3.8b9.1x22.7x1.5x
Wed, 26 Jun 2024CA$83.5bCA$57.0bCA$3.7b9x22.3x1.5x
Fri, 24 May 2024CA$86.4bCA$57.0bCA$3.7b9.6x23.1x1.5x
Sun, 21 Apr 2024CA$83.2bCA$56.9bCA$4.1b9.8x20.1x1.5x
Tue, 19 Mar 2024CA$83.6bCA$54.0bCA$3.8b11.1x22.1x1.6x
Thu, 15 Feb 2024CA$88.7bCA$53.6bCA$3.8b11.6x23.4x1.7x
Sat, 13 Jan 2024CA$94.6bCA$53.5bCA$3.9b12.5x24.3x1.8x
Mon, 11 Dec 2023CA$95.4bCA$53.5bCA$3.9b11.9x24.5x1.8x
Wed, 08 Nov 2023CA$93.2bCA$53.3bCA$3.9b11.8x24.1x1.7x
Fri, 06 Oct 2023CA$88.1bCA$52.8bCA$4.3b15.8x20.6x1.7x
Sun, 03 Sep 2023CA$87.5bCA$44.9bCA$3.6b25.9x24.5x1.9x
Tue, 01 Aug 2023CA$86.6bCA$44.1bCA$4.0b23.5x21.8x2x
Thu, 29 Jun 2023CA$91.8bCA$44.1bCA$4.0b25.5x23.1x2.1x
Sat, 27 May 2023CA$95.1bCA$44.1bCA$4.0b26.3x23.9x2.2x
Mon, 24 Apr 2023CA$100.8bCA$43.3bCA$4.3b25.6x23.5x2.3x
Price to Earnings Ratio

23.5x


Total Market Cap: CA$100.8bTotal Earnings: CA$4.3bTotal Revenue: CA$43.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Services and Carriers Industry Price to Earnings3Y Average 23.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Telecom 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 8.4x which is lower than its 3-year average PE of 23.4x.
  • 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 Telecom industry have grown 26% per year over the last three years.
  • Revenues for these companies have grown 9.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Telecom industry?

CA Market1.72%
Telecom1.49%
Telecom Services and Carriers1.54%
Alternative Carriers4.65%
Integrated Telecom Services1.53%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry even though it's trading below its 3-year average PE ratio of 23.6x.
    • Analysts are expecting annual earnings decline of 2.5%, which is lower than the prior year's growth of 12.1% per year.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Integrated Telecom Services industry since they expect its earnings to decline by only 2.5% per year over the next 5 years, which isn't as bad as the other industries.
  • This is a reversal from its past annual earnings growth rate of 12% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings decline by 2.5% 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
T TELUSCA$16.934.1%
+CA$1.0b		-18.4%PE23.7x
QBR.A QuebecorCA$55.561.0%
+CA$126.3m		48.1%PE14.6x
BCE BCECA$33.140.3%
+CA$102.6m		8.8%PE4.9x
TGO TeraGoCA$0.904.7%
+CA$1.6m		-23.7%PS1.4x

Latest News

CGO
CA$63.65
Cogeco
7D
-2.6%
1Y
4.6%
CCA
CA$63.30
Cogeco Communications
7D
-5.1%
1Y
-3.6%
T
CA$16.93
TELUS
7D
4.1%
1Y
-18.4%

T: Quantum And Space Connectivity Will Drive Future Upside Potential

Analysts now set their average TELUS price target at roughly CA$21.00, slightly below the prior fair value estimate of about CA$21.38. This reflects updated views on discount rate, revenue growth, profit margins and future P/E assumptions.
BCE
CA$33.14
BCE
7D
0.3%
1Y
8.8%

BCE: Price War Risks And AI Data Centres Will Shape 2026 Outlook

Analysts made a modest upward adjustment to the BCE fair value estimate to CA$37.53. This reflects slightly higher assumed revenue growth and profit margin expectations, along with a marginally lower future P/E multiple and a small change in the discount rate, following recent price target increases across several firms and ongoing sector price war concerns.
TGO
CA$0.90
TeraGo
7D
4.7%
1Y
-23.7%
QBR.A
CA$55.56
Quebecor
7D
1.0%
1Y
48.1%