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Canadian (TSX) Telecom Services and Carriers Industry Analysis

UpdatedOct 02, 2025
DataAggregated Company Financials
Companies5
  • 7D1.6%
  • 3M3.2%
  • 1Y-13.0%
  • YTD7.7%

Over the last 7 days, the Telecom Services and Carriers industry has risen 1.6%, driven by gains in Quebecor and BCE of 5.3% and 1.7%, respectively. During this same period, the TeraGo underperformed, falling 6.7%. However, the industry is down 13% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Oct 2025CA$77.4bCA$56.4bCA$2.6b13.3x29.9x1.4x
Sat, 30 Aug 2025CA$79.4bCA$56.4bCA$2.6b12.4x30.7x1.4x
Mon, 28 Jul 2025CA$77.8bCA$56.2bCA$2.8b12.3x28.2x1.4x
Wed, 25 Jun 2025CA$74.4bCA$56.3bCA$2.8b12.6x27x1.3x
Fri, 23 May 2025CA$73.6bCA$56.3bCA$2.8b11.6x26.7x1.3x
Sun, 20 Apr 2025CA$71.3bCA$56.3bCA$2.3b11.6x31x1.3x
Tue, 18 Mar 2025CA$75.5bCA$56.2bCA$2.3b11.2x32.4x1.3x
Thu, 13 Feb 2025CA$73.3bCA$56.7bCA$2.2b10x33.4x1.3x
Sat, 11 Jan 2025CA$72.7bCA$56.8bCA$2.2b9.4x33.2x1.3x
Mon, 09 Dec 2024CA$80.7bCA$56.8bCA$2.2b10.2x36.8x1.4x
Wed, 06 Nov 2024CA$82.2bCA$56.9bCA$3.9b10x20.9x1.4x
Fri, 04 Oct 2024CA$88.7bCA$56.9bCA$3.9b10.1x22.5x1.6x
Sun, 01 Sep 2024CA$87.4bCA$56.9bCA$3.9b9.3x22.2x1.5x
Tue, 30 Jul 2024CA$85.5bCA$57.0bCA$3.8b9x22.7x1.5x
Thu, 27 Jun 2024CA$82.0bCA$57.0bCA$3.7b9x21.9x1.4x
Sat, 25 May 2024CA$85.8bCA$57.0bCA$3.7b9.5x22.9x1.5x
Mon, 22 Apr 2024CA$83.2bCA$56.9bCA$4.1b9.8x20.1x1.5x
Wed, 20 Mar 2024CA$83.7bCA$54.0bCA$3.8b11.1x22.1x1.6x
Fri, 16 Feb 2024CA$88.9bCA$53.6bCA$3.8b11.6x23.5x1.7x
Sun, 14 Jan 2024CA$94.6bCA$53.5bCA$3.9b12.5x24.3x1.8x
Tue, 12 Dec 2023CA$95.1bCA$53.5bCA$3.9b11.8x24.4x1.8x
Thu, 09 Nov 2023CA$92.4bCA$53.2bCA$3.9b11.8x23.9x1.7x
Sat, 07 Oct 2023CA$87.8bCA$52.8bCA$4.3b15.8x20.6x1.7x
Mon, 04 Sep 2023CA$87.5bCA$44.9bCA$3.6b25.9x24.5x1.9x
Wed, 02 Aug 2023CA$86.6bCA$44.1bCA$4.0b23.5x21.8x2x
Fri, 30 Jun 2023CA$92.2bCA$44.1bCA$4.0b25.6x23.2x2.1x
Sun, 28 May 2023CA$95.1bCA$44.1bCA$4.0b26.3x23.9x2.2x
Tue, 25 Apr 2023CA$101.0bCA$43.3bCA$4.3b25.7x23.5x2.3x
Thu, 23 Mar 2023CA$94.1bCA$43.2bCA$4.3b22.1x21.7x2.2x
Sat, 18 Feb 2023CA$96.8bCA$43.2bCA$4.3b22.7x22.4x2.2x
Mon, 16 Jan 2023CA$97.9bCA$42.5bCA$4.8b19.2x20.3x2.3x
Wed, 14 Dec 2022CA$98.0bCA$42.5bCA$4.8b18.3x20.3x2.3x
Fri, 11 Nov 2022CA$98.9bCA$42.5bCA$4.8b20.4x20.5x2.3x
Sun, 09 Oct 2022CA$92.3bCA$41.9bCA$4.7b17.9x19.6x2.2x
Price to Earnings Ratio

19.6x


Total Market Cap: CA$92.3bTotal Earnings: CA$4.7bTotal Revenue: CA$41.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Telecom Services and Carriers Industry Price to Earnings3Y Average 24.9x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 29.7x which is higher than its 3-year average PE of 24.9x.
  • The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 18% per year over the last three years.
  • Meanwhile revenues for these companies have grown 10% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

CA Market0.89%
Telecom1.31%
Telecom Services and Carriers1.60%
Integrated Telecom Services1.60%
Alternative Carriers0%0
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 25.0x.
    • Analysts are expecting annual earnings growth of 14.8%, which is higher than its past year's earnings decline of 3.8% per year.
  • Investors are most pessimistic about the Integrated Telecom Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 25.0x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 3.8% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings grow by 15% 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
QBR.A QuebecorCA$45.005.3%
+CA$522.3m		25.5%PE13.3x
BCE BCECA$32.711.7%
+CA$522.2m		-29.6%PE70.4x
T TELUSCA$22.060.4%
+CA$138.2m		-1.9%PE35.1x
CCA Cogeco CommunicationsCA$64.551.4%
+CA$38.3m		-8.9%PE8.3x
CGO CogecoCA$61.011.8%
+CA$10.0m		3.3%PE6.6x

Latest News

BCE
CA$32.71
BCE
7D
1.7%
1Y
-29.6%
USS
CA$0.63
Uniserve Communications
7D
3.3%
1Y
425.0%
CCA
CA$64.55
Cogeco Communications
7D
1.4%
1Y
-8.9%
CGO
CA$61.01
Cogeco
7D
1.8%
1Y
3.3%
TGO
CA$0.83
TeraGo
7D
-6.7%
1Y
-63.8%

Flexible Millimeter Wave Use Will Unlock Mobile Opportunities

TeraGo's price target was cut following a substantial decline in its forward P/E ratio amid slightly weaker revenue growth expectations, lowering the fair value estimate from CA$1.60 to CA$1.00. What's in the News TeraGo announced a non-brokered private placement to issue 6,547,619 common shares at CAD 0.84 for proceeds of CAD 5.5 million, with insider participation expected and subject to stock exchange approval.
T
CA$22.06
TELUS
7D
0.4%
1Y
-1.9%
ADYA
CA$0.57
Adya
7D
14.0%
1Y
n/a
QBR.A
CA$45.00
Quebecor
7D
5.3%
1Y
25.5%

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Aug 31
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