Narrative Update • Apr 29
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Spanish (IBEX) Telecom Sector Analysis
UpdatedMay 14, 2026
DataAggregated Company Financials
Companies10
- 7D-1.7%
- 3M-0.6%
- 1Y-12.1%
- YTD6.0%
Over the last 7 days, the Telecom industry has dropped 1.7%, driven by a pullback from Telefónica of 2.5%. Meanwhile, Vocento actually outperformed within the industry, gaining 6.4% in the last week. However, the industry is down 12% over the past year. As for the next few years, earnings are expected to grow by 75% per annum.
Sector Valuation and Performance
Has the Spanish Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 14 May 2026 | €42.3b | €42.2b | -€2,475,605,698.00 | 18.5x | -17.1x | 1x |
| Sat, 11 Apr 2026 | €43.7b | €42.1b | -€2,483,083,455.00 | 18.3x | -17.6x | 1x |
| Mon, 09 Mar 2026 | €42.3b | €42.1b | -€2,494,896,110.00 | 24.5x | -16.9x | 1x |
| Wed, 04 Feb 2026 | €38.6b | €47.6b | -€1,141,339,110.00 | 21.9x | -33.8x | 0.8x |
| Fri, 02 Jan 2026 | €39.6b | €47.6b | -€1,141,339,110.00 | 21.8x | -34.7x | 0.8x |
| Sun, 30 Nov 2025 | €40.6b | €47.6b | -€1,141,339,110.00 | 23.2x | -35.6x | 0.9x |
| Tue, 28 Oct 2025 | €47.7b | €47.5b | -€476,863,852.00 | 31x | -99.9x | 1x |
| Thu, 25 Sep 2025 | €45.9b | €47.5b | -€476,863,852.00 | 28.2x | -96.3x | 1x |
| Sat, 23 Aug 2025 | €49.3b | €47.5b | -€475,506,852.00 | 30.3x | -103.7x | 1x |
| Mon, 21 Jul 2025 | €50.5b | €47.0b | -€470,735,852.00 | 24.7x | -107.3x | 1.1x |
| Wed, 18 Jun 2025 | €50.8b | €47.0b | -€470,735,852.00 | 22.9x | -108x | 1.1x |
| Fri, 16 May 2025 | €50.1b | €47.0b | -€470,508,918.00 | 25.1x | -106.6x | 1.1x |
| Sun, 13 Apr 2025 | €46.6b | €47.1b | -€315,204,239.00 | 24.8x | -147.9x | 1x |
| Tue, 11 Mar 2025 | €48.0b | €47.0b | -€223,379,204.00 | 31.8x | -214.7x | 1x |
| Thu, 06 Feb 2025 | €46.2b | €46.1b | -€1,482,701,204.00 | 10.4x | -31.2x | 1x |
| Sat, 04 Jan 2025 | €45.5b | €46.1b | -€1,482,701,204.00 | 9.2x | -30.7x | 1x |
| Mon, 02 Dec 2024 | €49.7b | €46.4b | -€1,480,921,364.00 | 10.3x | -33.5x | 1.1x |
| Wed, 30 Oct 2024 | €50.6b | €46.7b | -€1,249,552,883.00 | 12.2x | -40.5x | 1.1x |
| Fri, 27 Sep 2024 | €52.1b | €46.7b | -€1,252,048,684.00 | 15.1x | -41.6x | 1.1x |
| Sun, 25 Aug 2024 | €49.3b | €46.7b | -€1,252,048,684.00 | 14.9x | -39.3x | 1.1x |
| Tue, 23 Jul 2024 | €47.4b | €46.4b | -€978,517,684.00 | 14.5x | -48.5x | 1x |
| Thu, 20 Jun 2024 | €46.2b | €46.4b | -€972,881,831.00 | 14.7x | -47.5x | 1x |
| Sat, 18 May 2024 | €49.9b | €46.4b | -€971,406,347.00 | 14.9x | -51.4x | 1.1x |
| Mon, 15 Apr 2024 | €45.8b | €46.3b | -€1,247,792,214.00 | 13.8x | -36.7x | 1x |
| Wed, 13 Mar 2024 | €47.4b | €46.3b | -€1,246,855,629.00 | 16.7x | -38x | 1x |
| Fri, 09 Feb 2024 | €45.4b | €46.3b | €1.4b | 17.8x | 31.8x | 1x |
| Sun, 07 Jan 2024 | €47.7b | €47.1b | €1.6b | 13.3x | 29.8x | 1x |
| Tue, 05 Dec 2023 | €50.0b | €47.8b | €1.6b | 14.1x | 31.4x | 1x |
| Thu, 02 Nov 2023 | €42.5b | €47.7b | €1.5b | 13.6x | 28.2x | 0.9x |
| Sat, 30 Sep 2023 | €47.6b | €47.7b | €1.5b | 15.1x | 31.6x | 1x |
| Mon, 28 Aug 2023 | €47.5b | €47.7b | €1.5b | 15.4x | 31.6x | 1x |
| Wed, 26 Jul 2023 | €49.3b | €47.4b | €1.4b | 17.4x | 35.9x | 1x |
| Fri, 23 Jun 2023 | €48.1b | €47.4b | €1.4b | 17.7x | 35x | 1x |
| Sun, 21 May 2023 | €51.6b | €47.4b | €1.4b | 22.8x | 37.4x | 1.1x |
Price to Earnings Ratio
37.4x
Current Industry PE
- Investors are relatively neutral on the Spanish Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PS ratio of 1.0x.
Past Earnings Growth
- Total earnings for the Communication Services industry have declined over the last three years, with the industry now making a loss overall.
- Revenues have also declined 3.8% per year, which is driving profits down.
Industry Trends
Which industries have driven the changes within the Spanish Telecom sector?
| ES Market | -2.51% | |
| Telecom | -1.71% | |
| Media | -0.56% | |
| Entertainment | -0.87% | |
| Telecom Services and Carriers | -1.76% | |
Industry PE
- Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 49.3x.
- Analysts are expecting annual earnings growth of 25.4%, which is lower than the prior year's growth of 110.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Telecom Services and Carriers industry, expecting annual earnings growth of 77% over the next 5 years.
- This is better than its past earnings growth rate of 37% per year.
- In contrast, the Media industry is expected to see its earnings grow by 17% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| VOC Vocento | €0.83 | 6.4% +€6.0m | 23.5% | PS0.3x | |
| LLYC Llorente & Cuenca | €5.35 | 0.9% +€572.4k | -36.7% | PE3.9x |