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Canadian (TSX) Telecom Services and Carriers Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies6
  • 7D1.3%
  • 3M7.0%
  • 1Y0.9%
  • YTD8.2%

The Telecom Services and Carriers industry is up 3.5% in the last week, with Quebecor up 7.3%. This takes the industry's 12 month performance to a gain of 3.7%. As for the next few years, earnings are forecast to decline by 2.4% 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, 06 Mar 2026CA$80.5bCA$56.4bCA$8.7b9.9x9.3x1.4x
Sun, 01 Feb 2026CA$76.9bCA$56.4bCA$8.6b8.9x9x1.4x
Tue, 30 Dec 2025CA$72.6bCA$56.5bCA$8.6b8.6x8.5x1.3x
Thu, 27 Nov 2025CA$74.1bCA$56.5bCA$8.6b8.8x8.6x1.3x
Sat, 25 Oct 2025CA$77.1bCA$56.4bCA$2.6b13x29.8x1.4x
Mon, 22 Sep 2025CA$76.6bCA$56.4bCA$2.6b12.6x29.6x1.4x
Wed, 20 Aug 2025CA$80.5bCA$56.4bCA$2.6b12.1x31.1x1.4x
Fri, 18 Jul 2025CA$77.8bCA$56.2bCA$2.8b12.7x28.2x1.4x
Sun, 15 Jun 2025CA$74.7bCA$56.3bCA$2.8b12x27.1x1.3x
Tue, 13 May 2025CA$75.6bCA$56.3bCA$2.7b11.7x27.6x1.3x
Thu, 10 Apr 2025CA$68.9bCA$56.2bCA$2.3b11.7x29.6x1.2x
Sat, 08 Mar 2025CA$78.7bCA$56.9bCA$2.4b9.7x33.1x1.4x
Mon, 03 Feb 2025CA$75.2bCA$56.7bCA$2.2b9.2x34.2x1.3x
Wed, 01 Jan 2025CA$70.4bCA$56.8bCA$2.2b9.6x32.1x1.2x
Fri, 29 Nov 2024CA$79.1bCA$56.8bCA$2.2b9.4x36.1x1.4x
Sun, 27 Oct 2024CA$87.2bCA$56.9bCA$3.9b10x22.1x1.5x
Tue, 24 Sep 2024CA$89.7bCA$56.9bCA$3.9b9.7x22.8x1.6x
Thu, 22 Aug 2024CA$86.9bCA$56.9bCA$3.9b9.4x22.1x1.5x
Sat, 20 Jul 2024CA$84.8bCA$57.0bCA$3.8b9x22.5x1.5x
Mon, 17 Jun 2024CA$83.4bCA$57.0bCA$3.7b9.2x22.3x1.5x
Wed, 15 May 2024CA$85.7bCA$57.0bCA$3.7b9.9x22.9x1.5x
Fri, 12 Apr 2024CA$84.0bCA$56.9bCA$4.1b9.4x20.3x1.5x
Sun, 10 Mar 2024CA$87.9bCA$54.0bCA$3.8b11.1x23.2x1.6x
Tue, 06 Feb 2024CA$91.3bCA$53.5bCA$3.9b12.1x23.5x1.7x
Thu, 04 Jan 2024CA$93.6bCA$53.5bCA$3.9b12.8x24x1.8x
Sat, 02 Dec 2023CA$92.9bCA$53.5bCA$3.9b11.5x23.8x1.7x
Mon, 30 Oct 2023CA$86.4bCA$52.8bCA$4.3b11.1x20.2x1.6x
Wed, 27 Sep 2023CA$88.7bCA$52.8bCA$4.3b16x20.8x1.7x
Fri, 25 Aug 2023CA$86.5bCA$44.9bCA$3.6b25.5x24.2x1.9x
Sun, 23 Jul 2023CA$90.1bCA$44.1bCA$4.0b24.8x22.7x2x
Tue, 20 Jun 2023CA$92.7bCA$44.1bCA$4.0b25.7x23.3x2.1x
Thu, 18 May 2023CA$97.6bCA$44.1bCA$4.0b27.2x24.6x2.2x
Sat, 15 Apr 2023CA$99.4bCA$43.3bCA$4.3b25.2x23.1x2.3x
Mon, 13 Mar 2023CA$92.9bCA$43.2bCA$4.3b21.7x21.5x2.1x
Price to Earnings Ratio

21.5x


Total Market Cap: CA$92.9bTotal Earnings: CA$4.3bTotal Revenue: CA$43.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Services and Carriers Industry Price to Earnings3Y Average 23.9x202420252026
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 9.2x which is lower than its 3-year average PE of 23.9x.
  • The industry is trading close to its 3-year average PS ratio of 1.6x.
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 Market-2.97%
Telecom1.70%
Telecom Services and Carriers1.28%
Integrated Telecom Services1.28%
Alternative Carriers0%0
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 24.1x.
    • Analysts are expecting annual earnings decline of 2.4%, which is lower than the prior year's growth of 12.1% per year.
  • Investors are most pessimistic about the Integrated Telecom Services industry, which is trading below its 3-year average of 24.1x.
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
BCE BCECA$35.551.2%
+CA$382.3m		1.5%PE5.3x
QBR.A QuebecorCA$59.302.8%
+CA$362.6m		64.1%PE15.7x
T TELUSCA$18.880.9%
+CA$249.8m		-15.6%PE26.5x
CGO CogecoCA$74.381.3%
+CA$9.2m		27.3%PE8.4x
CCA Cogeco CommunicationsCA$73.000.2%
+CA$7.1m		10.9%PE9.9x

Latest News

T
CA$18.88
TELUS
7D
0.9%
1Y
-15.6%
QBR.A
CA$59.30
Quebecor
7D
2.8%
1Y
64.1%
CCA
CA$73.00
Cogeco Communications
7D
0.2%
1Y
10.9%

CCA: Modest Discount Shift And Margins Will Frame Fairly Valued Shares

Narrative Update on Cogeco Communications The analyst price target for Cogeco Communications has moved higher by several Canadian dollars, with recent CA$1 to CA$5 target increases from multiple firms as analysts point to slightly improved margin assumptions, a modestly lower discount rate, and a small adjustment to the forward P/E used in their models. Analyst Commentary Recent research updates on Cogeco Communications cluster around modest price target revisions, with several firms adjusting their models by CA$1 to CA$5.
BCE
CA$35.55
BCE
7D
1.2%
1Y
1.5%

BCE: Fair Outlook Weighs 2026 Guidance Against Mixed Rating Revisions

Analysts have nudged their fair value estimate for BCE higher to CA$37.38 from CA$37.01, citing recent price target moves around CA$40 and updated assumptions for revenue growth, margins and future P/E as the main drivers of this change. Analyst Commentary Recent research on BCE reflects a mix of cautious tweaks and more constructive moves on valuation, with price targets broadly clustering around the CA$40 mark.
TGO
CA$0.84
TeraGo
7D
-4.5%
1Y
-40.4%
CGO
CA$74.38
Cogeco
7D
1.3%
1Y
27.3%
ADYA
CA$0.24
Adya
7D
20.0%
1Y
50.0%