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U.K. (FTSE) Telecom Sector Analysis

UpdatedAug 19, 2026
DataAggregated Company Financials
Companies57
  • 7D0.9%
  • 3M2.0%
  • 1Y6.5%
  • YTD6.8%

The Telecom industry has stayed flat over the last week. As for the the longer term, the industry is up 6.5% over the past 12 months. Earnings are forecast to grow by 25% annually.

Sector Valuation and Performance

Has the U.K. Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 19 Aug 2026UK£97.0bUK£96.2bUK£2.2b16x43.8x1x
Fri, 17 Jul 2026UK£93.6bUK£94.8bUK£2.0b14.9x46.5x1x
Sun, 14 Jun 2026UK£99.2bUK£98.2bUK£2.0b14.4x50.5x1x
Tue, 12 May 2026UK£105.2bUK£97.1b-UK£1,664,841,966.6914.8x-63.2x1.1x
Thu, 09 Apr 2026UK£100.0bUK£97.3b-UK£1,796,251,508.6515.2x-55.7x1x
Sat, 07 Mar 2026UK£96.4bUK£96.4b-UK£2,093,820,390.3517x-46x1x
Mon, 02 Feb 2026UK£105.2bUK£96.9b-UK£1,343,957,682.0415.8x-78.3x1.1x
Wed, 31 Dec 2025UK£103.1bUK£96.9b-UK£1,401,763,653.3816.8x-73.6x1.1x
Fri, 28 Nov 2025UK£101.7bUK£97.3b-UK£1,399,865,026.0317.3x-72.7x1x
Sun, 26 Oct 2025UK£100.3bUK£95.5b-UK£1,462,442,122.6516.3x-68.6x1x
Tue, 23 Sep 2025UK£100.0bUK£95.5b-UK£1,442,231,128.3416.3x-69.3x1x
Thu, 21 Aug 2025UK£102.8bUK£95.3b-UK£1,379,481,593.0016.4x-74.5x1.1x
Sat, 19 Jul 2025UK£96.6bUK£95.5b-UK£909,999,895.0516.4x-106.1x1x
Mon, 16 Jun 2025UK£93.1bUK£92.9b-UK£616,515,171.9015.6x-151x1x
Wed, 14 May 2025UK£89.8bUK£92.5bUK£4.6b14.9x19.5x1x
Fri, 11 Apr 2025UK£82.3bUK£93.4bUK£4.6b16.1x17.9x0.9x
Sun, 09 Mar 2025UK£89.1bUK£87.1bUK£4.9b16.1x18.1x1x
Tue, 04 Feb 2025UK£89.9bUK£87.4bUK£4.6b18.5x19.6x1x
Thu, 02 Jan 2025UK£88.0bUK£87.1bUK£4.4b18.4x19.9x1x
Sat, 30 Nov 2024UK£89.2bUK£87.2bUK£4.4b20.8x20.1x1x
Mon, 28 Oct 2024UK£87.8bUK£86.9bUK£3.6b17.1x24.5x1x
Wed, 25 Sep 2024UK£91.3bUK£86.9bUK£3.7b21.2x24.9x1.1x
Fri, 23 Aug 2024UK£87.7bUK£87.6bUK£3.6b19.8x24.4x1x
Sun, 21 Jul 2024UK£87.4bUK£87.4bUK£3.2b19.4x27.6x1x
Tue, 18 Jun 2024UK£86.8bUK£87.6bUK£3.2b19.3x27.4x1x
Thu, 16 May 2024UK£87.2bUK£87.9bUK£4.2b20.1x20.8x1x
Sat, 13 Apr 2024UK£81.0bUK£95.0bUK£12.4b20.9x6.5x0.9x
Mon, 11 Mar 2024UK£81.5bUK£95.0bUK£12.2b21.5x6.7x0.9x
Wed, 07 Feb 2024UK£80.5bUK£94.9bUK£12.7b18.4x6.4x0.8x
Fri, 05 Jan 2024UK£86.1bUK£97.5bUK£13.0b16.8x6.6x0.9x
Sun, 03 Dec 2023UK£84.6bUK£97.1bUK£12.9b16.1x6.6x0.9x
Tue, 31 Oct 2023UK£81.3bUK£98.3bUK£14.2b18x5.7x0.8x
Thu, 28 Sep 2023UK£84.1bUK£98.1bUK£14.2b17.6x5.9x0.9x
Sat, 26 Aug 2023UK£80.7bUK£97.3bUK£14.0b17.6x5.8x0.8x
Price to Earnings Ratio

5.8x


Total Market Cap: UK£80.7bTotal Earnings: UK£14.0bTotal Revenue: UK£97.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Telecom Sector Price to Earnings3Y Average -13.4x202420252026
Current Industry PE
  • Investors are optimistic on the British Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 43.8x which is higher than its 3-year average PE of -13.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.98x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 46% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 U.K. Telecom sector?

GB Market-1.22%
Telecom0.92%
Telecom Services and Carriers2.78%
Wireless Telecom1.06%
Interactive Media and Services0.92%
Entertainment-0.22%
Media-0.76%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 34.9%, which is higher than its past year's earnings growth of 6.3% per year.
  • Investors are most pessimistic about the Interactive Media and Services industry, which is trading below its 3-year average of 24.9x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings growth rate of 6.3% per year.
  • In contrast, the Entertainment industry is expected to see its earnings decline by 12% 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
BT.A BT GroupUK£2.022.9%
+UK£561.7m		-4.2%PE18.5x
VOD Vodafone GroupUK£1.201.2%
+UK£333.9m		37.4%PS0.8x
ZEG Zegona CommunicationsUK£15.305.2%
+UK£171.6m		35.4%PS1.1x
RMV RightmoveUK£5.033.8%
+UK£137.6m		-34.6%PE17x
AAF Airtel AfricaUK£3.260.7%
+UK£80.0m		52.3%PE22.5x

Latest News

INF
UK£8.94
Informa
7D
-0.8%
1Y
1.0%
FUTR
UK£3.15
Future
7D
-4.3%
1Y
-58.8%
Narrative Update • Aug 16

FUTR: Higher Risk Reset Will Support Long Term Upside Potential

Analysts have trimmed their fair value estimate for Future to £7.40, reflecting lower price targets, a higher discount rate, and more cautious assumptions on revenue growth and profitability. Analyst Commentary Recent Street research on Future shows a mix of optimism and caution, with some bullish analysts still highlighting upside potential despite lower fair value estimates and reduced price targets.
AAF
UK£3.26
Airtel Africa
7D
0.7%
1Y
52.3%
Narrative Update • Aug 14

AAF: Higher Stake And Buyback Plan Will Support Fairly Balanced Outlook

Analysts have lifted their Airtel Africa price target to £4.50 from £4.30, citing updated assumptions around fair value, discount rate, revenue, profit margin and future P/E estimates. What’s in the News for Airtel Africa Bharti Airtel Limited completed the acquisition of a 16.31% stake in Airtel Africa from Indian Continent Investment Limited for £1.9b on June 22, 2026, following shareholder and board approvals and subject to regulatory clearances.
VOD
UK£1.20
Vodafone Group
7D
1.2%
1Y
37.4%
Narrative Update • Aug 13

VOD: Fair Value View Balances German Pressures And UK Deal Opportunity

Analysts have raised their fair value estimate for Vodafone Group from £1.04 to £1.14 per share, reflecting recent Street research that includes higher price targets from Morgan Stanley at £1.15 and Deutsche Bank at £1.50, alongside mixed views on execution in key markets. Analyst Commentary Recent Street research on Vodafone Group presents a mixed picture.
WPP
UK£3.91
WPP
7D
-2.7%
1Y
0.9%
FOUR
UK£46.14
4imprint Group
7D
-5.6%
1Y
34.5%
HTWS
UK£2.00
Helios Towers
7D
-1.1%
1Y
61.9%
Narrative Update • Aug 06

HTWS: Upgraded 2026 Tenancy Commitments Will Support Higher Forward P/E

Helios Towers' analyst price target has been revised higher to £2.86 from £2.70, with analysts pointing to updated assumptions on discount rate, revenue growth, profit margin and future P/E as key drivers of the change, alongside recent Street research such as the £0.45 increase in target price reported by Morgan Stanley on 6 August 2026. What’s in the News for Helios Towers Helios Towers issued revised operating guidance for fiscal 2026, confirming a strong site and tenancy pipeline from large multinational mobile network operators.
ITV
UK£0.71
ITV
7D
0.8%
1Y
-12.4%
Narrative Update • Aug 05

ITV: Future Profile Will Balance M&E Sale Impact And Execution Risk

Analysts have trimmed their fair value estimate for ITV to about £0.81 per share, a reduction of roughly £0.06, reflecting recent price target cuts to £0.85 and a more cautious stance following the planned sale of ITV Media & Entertainment to Sky. Analyst Commentary Recent research on ITV highlights a more cautious stance following the agreed sale of ITV Media & Entertainment to Sky and the adjustment of price targets to £0.85 per share.
RMV
UK£5.03
Rightmove
7D
3.8%
1Y
-34.6%
Narrative Update • Aug 04

RMV: Buybacks And High Margins Will Support Future Shareholder Returns

The Rightmove analyst price target has been nudged higher to £4.29 from £4.04, with analysts highlighting updated assumptions on revenue growth, profit margins and P/E expectations as the key factors behind the change. Analyst Commentary Recent Street research on Rightmove shows a mix of optimism on valuation and caution on execution and growth, which helps explain the revised £4.29 price target and the varied ratings across the stock.
MONY
UK£2.05
MONY Group
7D
1.2%
1Y
2.6%
BCG
UK£2.06
Baltic Classifieds Group
7D
-2.2%
1Y
-39.6%
Narrative Update • Aug 03

BCG: Buybacks And Rising Dividends Will Support A Balanced Outlook

Analysts have lifted their fair value estimate for Baltic Classifieds Group from about £1.68 to roughly £1.83 per share, citing updated assumptions on revenue growth, profit margins and future P/E that together point to a slightly lower discount rate in their models. What's in the News for Baltic Classifieds Group The board of Baltic Classifieds Group has proposed a special dividend of €0.003 per share, with payment expected on 16 October 2026 to shareholders on the register at the close of business on 11 September 2026.
CAN
UK£2.74
Canal+
7D
2.5%
1Y
15.7%
Narrative Update • Jul 30

CAN: Long-Term Cinema Funding Commitments Will Support Higher Future Earnings Multiple

Analysts have raised their price target for Canal+ from £4.96 to £5.16, citing updated assumptions around revenue growth, profit margins, and future P/E levels in their valuation work. What's in the News Canal+ signed a five year agreement with French film bodies BLIC, BLOC members and ARP that includes a planned €980 million commitment between 2028 and 2033 to support French and European cinema, with a focus on new filmmakers, diversity films, animated films and films aimed at wide audiences.
AUTO
UK£5.27
Autotrader Group
7D
-0.3%
1Y
-35.6%
Narrative Update • Jul 30

AUTO: Sector Support And Buybacks Will Underpin Future Repricing Potential

Analysts have trimmed the fair value estimate for Autotrader Group to about £7.65 from roughly £8.22, reflecting a series of reduced price targets that still sit alongside several Buy ratings and a broadly constructive sector view on European classifieds and AI related disruption risks. Analyst Commentary Recent research on Autotrader Group shows a mix of optimism and caution, with several bullish analysts still highlighting upside potential even as some targets have been cut.
BT.A
UK£2.02
BT Group
7D
2.9%
1Y
-4.2%
TRST
UK£2.80
Trustpilot Group
7D
-1.7%
1Y
27.5%
Narrative Update • Jun 30

TRST: Shopify Partnership And German Expansion Will Support Stronger Future Returns

The latest analyst updates have lifted the implied fair value for Trustpilot Group to about £3.40 per share from roughly £3.07, with the shift mainly linked to firmer margin assumptions, a lower future P/E of around 42x, and recent supportive research including a new Overweight rating and raised price targets. Analyst Commentary Recent street research around Trustpilot Group gives a mixed picture, with some analysts pointing to underappreciated product strength and geographic opportunities, while others are more cautious.
ZEG
UK£15.30
Zegona Communications
7D
5.2%
1Y
35.4%