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French (CAC) Telecom Sector Analysis

UpdatedJul 15, 2026
DataAggregated Company Financials
Companies43
  • 7D0.7%
  • 3M-1.5%
  • 1Y7.5%
  • YTD9.2%

The Telecom industry has been flat over the last week, but Eutelsat Communications has lost 11%. The past year has been better, since the industry has gained 7.5% in that time. Looking forward, earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

Has the French Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Jul 2026€89.2b€95.2b€864.4m15.3x103.1x0.9x
Sat, 13 Jun 2026€94.1b€95.3b€870.4m14.4x108.2x1x
Mon, 11 May 2026€91.0b€95.4b€2.3b14.3x39.3x1x
Wed, 08 Apr 2026€85.7b€92.9b€2.4b12.9x35.7x0.9x
Fri, 06 Mar 2026€84.6b€92.9b€2.1b11.6x39.8x0.9x
Sun, 01 Feb 2026€81.0b€91.7b€2.2b12.5x36.8x0.9x
Tue, 30 Dec 2025€95.5b€95.0b€2.7b12.7x35.8x1x
Thu, 27 Nov 2025€93.9b€95.0b€2.7b11.8x35.1x1x
Sat, 25 Oct 2025€97.1b€95.0b€2.6b12.4x37.7x1x
Mon, 22 Sep 2025€94.4b€95.1b€2.6b12.6x36.6x1x
Wed, 20 Aug 2025€97.9b€95.1b€2.3b11.7x41.9x1x
Fri, 18 Jul 2025€98.1b€94.8b€3.3b12x29.5x1x
Sun, 15 Jun 2025€98.7b€94.9b€3.3b12.5x29.9x1x
Tue, 13 May 2025€99.3b€95.1b€3.4b12.7x29.2x1x
Thu, 10 Apr 2025€90.0b€95.1b€3.4b11.5x26.4x0.9x
Sat, 08 Mar 2025€100.4b€109.9b€3.5b10.9x28.7x0.9x
Mon, 03 Feb 2025€95.1b€123.7b€4.7b11.1x20.3x0.8x
Wed, 01 Jan 2025€94.1b€118.5b€4.6b10.9x20.5x0.8x
Fri, 29 Nov 2024€99.4b€118.6b€4.6b11.1x21.6x0.8x
Sun, 27 Oct 2024€102.3b€118.9b€4.8b11.5x21.3x0.9x
Tue, 24 Sep 2024€105.4b€118.8b€4.9b12.7x21.7x0.9x
Thu, 22 Aug 2024€101.8b€118.8b€4.9b13.2x21x0.9x
Sat, 20 Jul 2024€105.6b€108.6b€5.5b14.6x19.2x1x
Mon, 17 Jun 2024€99.9b€108.1b€5.4b16.3x18.6x0.9x
Wed, 15 May 2024€108.9b€107.7b€4.9b17.5x22.4x1x
Fri, 12 Apr 2024€107.2b€107.6b-€38,365,423,020.0018.6x-2.8x1x
Sun, 10 Mar 2024€105.8b€114.2b-€38,424,724,941.0018.3x-2.8x0.9x
Tue, 06 Feb 2024€105.1b€112.5b-€40,359,469,564.0018x-2.6x0.9x
Thu, 04 Jan 2024€101.2b€112.6b-€40,363,150,564.0017.6x-2.5x0.9x
Sat, 02 Dec 2023€98.5b€112.6b-€40,350,048,564.0018.1x-2.4x0.9x
Mon, 30 Oct 2023€95.0b€112.6b€2.8b17.4x33.4x0.8x
Wed, 27 Sep 2023€94.4b€112.4b€2.7b16.6x34.8x0.8x
Fri, 25 Aug 2023€94.4b€112.4b€2.7b16.4x34.8x0.8x
Sun, 23 Jul 2023€99.5b€111.4b€3.2b15.5x30.9x0.9x
Price to Earnings Ratio

30.9x


Total Market Cap: €99.5bTotal Earnings: €3.2bTotal Revenue: €111.4bTotal Market Cap vs Earnings and Revenue0%0%0%
French Telecom Sector Price to Earnings3Y Average 28.2x202420252026
Current Industry PE
  • Investors are optimistic on the French Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 103x which is higher than its 3-year average PE of 28.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.93x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 36% per year over the last three years,
  • Revenues have also declined 5.1% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the French Telecom sector?

FR Market-1.14%
Telecom0.69%
Interactive Media and Services10.10%
Telecom Services and Carriers3.45%
Wireless Telecom0%0
Media-1.17%
Entertainment-10.51%
Industry PE
  • Investors are most optimistic about the Telecom Services and Carriers industry which is trading above its 3-year average PE ratio of 38.0x.
    • Analysts are expecting annual earnings growth of 34.3%, which is higher than its past year's earnings decline of 83.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 68% over the next 5 years.
  • In contrast, the Media industry is expected to see its earnings grow by 14% 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
ORA Orange€16.312.2%
+€944.0m		23.8%PE132.6x
PUB Publicis Groupe€88.664.1%
+€870.8m		-1.4%PE13.3x
DEC JCDecaux€21.323.2%
+€140.5m		41.8%PE17.3x
IPS Ipsos€35.365.2%
+€74.4m		-15.9%PE8.1x
ALPUL Pullup Entertainment Société anonyme€8.9622.4%
+€12.9m		-54.8%PS0.3x

Latest News

SESG
€7.47
SES
7D
-5.1%
1Y
22.5%
Narrative Update • Jul 14

SESG: Future Cash Returns Will Rely On New Connectivity Contracts

Analysts have revised their 12 month price target for SES to €8.25 from €7.82, citing updated assumptions for discount rates, profit margins and future P/E multiples in their refreshed valuation work. What’s in the News for SES SES Space & Defense secured a five year Blanket Purchase Agreement with the U.S. Space Force’s Space Systems Command to provide managed Ku band satellite services, giving the Department of War rapid access to secure FlexMove, FlexGovSecure and FlexAir connectivity for remote mission locations.
ALPUL
€8.96
Pullup Entertainment Société anonyme
7D
22.4%
1Y
-54.8%
ALDNX
€21.80
DNXCorp
7D
15.3%
1Y
52.4%
UBI
€5.73
Ubisoft Entertainment
7D
-2.0%
1Y
-39.2%
Narrative Update • Jul 11

Why Ubisoft is at inflection point right now and it will achieve a full turnaround by 2028.

To the casual observer, Ubisoft Entertainment SA (Euronext Paris: UBI, ISIN: FR0000054470) represents a troubled gaming giant lost in a transition year fog. Still trading at under €6 with a depressed market capitalisation of under 750 million , the market has priced the stock under an extreme “insolvency and refinancing risk”.
ORA
€16.31
Orange
7D
2.2%
1Y
23.8%
Narrative Update • Jul 10

ORA: Higher Rating Cluster May Support Future Repricing Potential

Orange's updated analyst price target of €21.80, up from €20.00, reflects a recalibration of fair value as analysts point to higher assumed revenue growth, stronger profit margins and a lower future P/E, supported by recent target increases and rating changes across several research houses. Analyst Commentary Recent research on Orange points to a cluster of supportive views, with a series of price target adjustments and rating changes that help explain why the stock's assumed fair value has moved to €21.80.
VIV
€1.92
Vivendi
7D
-1.0%
1Y
-34.4%
Narrative Update • Jul 08

VIV: Buy Rating Upgrades Will Support Future Upside Potential

Vivendi's analyst price target has been trimmed by €0.20, reflecting a slightly lower fair value estimate as analysts balance recent target reductions from JPMorgan with higher targets and a rating upgrade from Kepler Cheuvreux, along with Deutsche Bank's upward revision. Analyst Commentary Recent research on Vivendi points to a mix of caution and optimism, with several bullish analysts highlighting potential upside in the stock despite some trimmed targets.
IPS
€35.36
Ipsos
7D
5.2%
1Y
-15.9%
PUB
€88.66
Publicis Groupe
7D
4.1%
1Y
-1.4%
MMT
€11.90
Métropole Télévision
7D
-2.0%
1Y
-8.7%
TFI
€6.76
TF1
7D
0.6%
1Y
-21.9%
DEC
€21.32
JCDecaux
7D
3.2%
1Y
41.8%
Narrative Update • Jul 01

DEC: Airport Contract Wins And Upgrades Will Shape A Balanced Outlook

The analyst fair value estimate for JCDecaux has shifted from €16.0 to €19.9, with analysts pointing to updated assumptions on revenue growth, profit margins and discount rate, supported by recent Buy-rated upgrades and higher price targets from Street research citing resilient demand for outdoor advertising. Analyst Commentary Recent Street commentary on JCDecaux highlights a mix of optimism on outdoor advertising demand and ongoing debate around how much of that outlook is already reflected in the share price.
ALHOP
€14.80
Hopscotch Global PR Group
7D
-14.7%
1Y
-12.9%
ETL
€2.22
Eutelsat Communications
7D
-10.7%
1Y
-35.5%
Narrative Update • Jun 30

ETL: Fair P/E And Mixed Research Views Will Shape Future Returns

Analysts have nudged their fair value estimate for Eutelsat Communications higher, lifting the target by about €0.10. Recent research points to adjusted assumptions on discount rates, revenue growth, profit margins and future P/E multiples, alongside fresh rating and price target updates across the Street.
MMB
€19.30
Lagardere
7D
-3.1%
1Y
-8.5%
Narrative Update • Jun 18

MMB: Stable Margins And Lower Required Return Will Support Future Upside

Lagardere's analyst price target has been held steady at €27.17 per share, with analysts citing only marginal adjustments to inputs such as the discount rate, long term revenue growth, profit margin and future P/E assumptions as the basis for maintaining their view. What's in the News for Lagardere No recent Lagardere news items were available from the provided primary or secondary sources as of 16 Jun 2026.
ALUNI
€1.92
Unify Group
7D
3.5%
1Y
15.4%
GAM
€102.00
Gaumont
7D
-8.1%
1Y
29.9%