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Canadian (TSX) Telecom Services and Carriers Industry Analysis

UpdatedMay 01, 2026
DataAggregated Company Financials
Companies7
  • 7D-1.1%
  • 3M-5.9%
  • 1Y-0.2%
  • YTD-1.8%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 1.1%, driven by a pullback from BCE of 2.1%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to decline by 2.4% per year.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 01 May 2026CA$71.7bCA$56.3bCA$8.7b8.4x8.3x1.3x
Sun, 29 Mar 2026CA$77.5bCA$56.4bCA$8.7b9.5x8.9x1.4x
Tue, 24 Feb 2026CA$77.6bCA$56.3bCA$8.6b9.3x9x1.4x
Thu, 22 Jan 2026CA$74.9bCA$56.4bCA$8.6b9.6x8.7x1.3x
Sat, 20 Dec 2025CA$71.5bCA$56.5bCA$8.6b8.6x8.3x1.3x
Mon, 17 Nov 2025CA$76.5bCA$56.5bCA$8.6b8.6x8.9x1.4x
Wed, 15 Oct 2025CA$77.3bCA$56.4bCA$2.6b13x29.8x1.4x
Fri, 12 Sep 2025CA$78.4bCA$56.4bCA$2.6b12.7x30.3x1.4x
Sun, 10 Aug 2025CA$77.0bCA$56.4bCA$2.6b11.2x29.7x1.4x
Tue, 08 Jul 2025CA$75.3bCA$56.3bCA$2.8b12.8x27.3x1.3x
Thu, 05 Jun 2025CA$74.7bCA$56.3bCA$2.8b12x27.1x1.3x
Sat, 03 May 2025CA$71.4bCA$56.3bCA$2.3b11.7x31x1.3x
Mon, 31 Mar 2025CA$73.3bCA$56.2bCA$2.3b11.7x31.5x1.3x
Wed, 26 Feb 2025CA$77.6bCA$56.9bCA$2.3b9.6x33.1x1.4x
Fri, 24 Jan 2025CA$72.5bCA$56.7bCA$2.2b8.8x33x1.3x
Sun, 22 Dec 2024CA$72.2bCA$56.8bCA$2.2b9.4x33x1.3x
Tue, 19 Nov 2024CA$78.6bCA$56.8bCA$2.2b9.5x36.2x1.4x
Thu, 17 Oct 2024CA$88.1bCA$56.9bCA$3.9b10.1x22.4x1.5x
Sat, 14 Sep 2024CA$90.2bCA$56.9bCA$3.9b9.6x22.9x1.6x
Mon, 12 Aug 2024CA$88.8bCA$56.9bCA$4.0b9.4x22x1.6x
Wed, 10 Jul 2024CA$80.6bCA$57.0bCA$3.7b9x21.5x1.4x
Fri, 07 Jun 2024CA$87.1bCA$57.0bCA$3.7b9.3x23.3x1.5x
Sun, 05 May 2024CA$85.0bCA$56.8bCA$3.8b9.8x22.3x1.5x
Tue, 02 Apr 2024CA$82.0bCA$53.9bCA$3.8b10.6x21.7x1.5x
Thu, 29 Feb 2024CA$89.8bCA$54.0bCA$3.8b11.4x23.7x1.7x
Sat, 27 Jan 2024CA$94.8bCA$53.5bCA$3.9b13.2x24.4x1.8x
Mon, 25 Dec 2023CA$89.9bCA$53.5bCA$3.9b12.3x23.1x1.7x
Wed, 22 Nov 2023CA$93.6bCA$53.5bCA$3.9b11.4x24x1.8x
Fri, 20 Oct 2023CA$87.9bCA$52.8bCA$4.3b15.9x20.6x1.7x
Sun, 17 Sep 2023CA$93.0bCA$52.8bCA$4.3b16.6x21.8x1.8x
Tue, 15 Aug 2023CA$86.7bCA$44.9bCA$3.6b25.8x24.3x1.9x
Thu, 13 Jul 2023CA$91.0bCA$44.1bCA$4.0b25.4x22.9x2.1x
Sat, 10 Jun 2023CA$93.2bCA$44.1bCA$4.0b25.3x23.5x2.1x
Mon, 08 May 2023CA$99.9bCA$44.1bCA$4.0b28x25.1x2.3x
Price to Earnings Ratio

25.1x


Total Market Cap: CA$99.9bTotal Earnings: CA$4.0bTotal Revenue: CA$44.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Services and Carriers Industry Price to Earnings3Y Average 23.2x202420252026
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 8.3x which is lower than its 3-year average PE of 23.2x.
  • 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 30% per year over the last three years.
  • Revenues for these companies have grown 8.4% 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 Market0.32%
Telecom-1.78%
Telecom Services and Carriers-1.11%
Integrated Telecom Services-1.11%
Alternative Carriers-2.17%
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 23.4x.
    • Analysts are expecting annual earnings decline of 2.4%, 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 2.4% 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 2.4% 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$17.010.1%
+CA$31.2m		-19.4%PE23.9x
CCA Cogeco CommunicationsCA$62.940.2%
+CA$4.6m		-5.8%PE8.4x
CGO CogecoCA$63.130.6%
+CA$3.8m		-0.03%PE7.1x

Latest News

TGO
CA$0.90
TeraGo
7D
-2.2%
1Y
-24.4%
USS
CA$0.68
Uniserve Communications
7D
-5.6%
1Y
126.7%
CCA
CA$62.94
Cogeco Communications
7D
0.2%
1Y
-5.8%

CCA: Execution On U.S. Turnaround And Margin Resilience Will Support Upside Potential

Cogeco Communications' updated analyst price target has been trimmed by about CA$0.09 to CA$73.27. This reflects a mix of recent target cuts from RBC Capital and Scotiabank, a downgrade from TD Securities on weaker U.S. results and sentiment, and an earlier upgrade to Outperform from National Bank with a CA$80 target, as analysts reassess discount rates, revenue trends, margins, and future P/E expectations.
T
CA$17.01
TELUS
7D
0.1%
1Y
-19.4%

T: Space Connectivity And 5G Spectrum Expansion Will Drive Future Upside Potential

Analysts now set a slightly lower TELUS price target of CA$20.59, down from CA$21.00, citing modest adjustments to fair value assumptions, discount rate, revenue growth, profit margin, and future P/E estimates. What's in the News CEO transition planned, with long-time Chief Executive Darren Entwistle set to retire on June 30, 2026, and Board member Victor Dodig, former CIBC President and CEO, appointed CEO Designate and scheduled to assume the role on July 1, 2026, following a multiyear succession process (Executive changes).
BCE
CA$32.28
BCE
7D
-2.1%
1Y
8.8%

BCE: AI Data Centres Will Drive Returns Despite Wireless Price War

Analysts have made a modest upward adjustment to the CA$41 Street price target for BCE, highlighting updated views on pricing risk, recent target hikes from several firms, and refined assumptions around revenue growth, margins, and future P/E multiples. Analyst Commentary Recent Street research on BCE reflects a mix of optimism around valuation support and growth projects, alongside fresh concerns about competitive pressure in Canadian telecom.
CGO
CA$63.13
Cogeco
7D
0.6%
1Y
-0.03%