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U.K. (FTSE) Telecom Services and Carriers Industry Analysis

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies4
  • 7D-5.5%
  • 3M0.5%
  • 1Y26.3%
  • YTD16.6%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 5.5%, driven by BT Group declining 7.1%. This takes the industry's 12 month performance to a gain of 26%. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

Has the U.K. Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 01 Jun 2026UK£25.5bUK£22.9bUK£1.1b16.2x23.6x1.1x
Wed, 29 Apr 2026UK£26.2bUK£23.3bUK£952.1m17.5x27.5x1.1x
Fri, 27 Mar 2026UK£24.6bUK£23.3bUK£952.1m15.5x25.8x1.1x
Sun, 22 Feb 2026UK£24.9bUK£23.3bUK£953.1m16.5x26.1x1.1x
Tue, 20 Jan 2026UK£31.1bUK£23.3bUK£953.5m15.9x32.6x1.3x
Thu, 18 Dec 2025UK£29.6bUK£23.3bUK£950.1m15.8x31.1x1.3x
Sat, 15 Nov 2025UK£27.2bUK£22.8bUK£703.4m15.8x38.6x1.2x
Mon, 13 Oct 2025UK£28.7bUK£23.1bUK£812.0m15.5x35.4x1.2x
Wed, 10 Sep 2025UK£29.8bUK£23.0bUK£816.9m16.2x36.5x1.3x
Fri, 08 Aug 2025UK£28.6bUK£23.0bUK£816.3m16.7x35.1x1.2x
Sun, 06 Jul 2025UK£26.0bUK£21.2bUK£1.1b16.6x24.3x1.2x
Tue, 03 Jun 2025UK£24.2bUK£21.2bUK£1.1b16.3x22.7x1.1x
Thu, 01 May 2025UK£23.4bUK£21.4bUK£783.4m20x29.9x1.1x
Sat, 29 Mar 2025UK£22.6bUK£21.4bUK£784.2m19.1x28.8x1.1x
Mon, 24 Feb 2025UK£20.2bUK£21.3bUK£771.3m21x26.2x0.9x
Wed, 22 Jan 2025UK£18.2bUK£21.3bUK£770.3m20.5x23.6x0.9x
Fri, 20 Dec 2024UK£18.2bUK£21.3bUK£771.4m22.5x23.6x0.9x
Sun, 17 Nov 2024UK£17.8bUK£21.3bUK£771.0m27.2x23.1x0.8x
Tue, 15 Oct 2024UK£18.2bUK£21.4bUK£896.9m27.5x20.3x0.9x
Thu, 12 Sep 2024UK£17.9bUK£21.4bUK£896.8m28.9x20x0.8x
Sat, 10 Aug 2024UK£16.7bUK£21.3bUK£893.9m27.2x18.6x0.8x
Mon, 08 Jul 2024UK£16.9bUK£21.3bUK£894.1m16x18.9x0.8x
Wed, 05 Jun 2024UK£16.4bUK£21.3bUK£894.0m15.2x18.3x0.8x
Fri, 03 May 2024UK£13.0bUK£21.3bUK£1.9b11.6x6.8x0.6x
Sun, 31 Mar 2024UK£13.6bUK£21.3bUK£1.9b11.6x7.2x0.6x
Tue, 27 Feb 2024UK£13.1bUK£21.3bUK£1.9b11.6x6.9x0.6x
Thu, 25 Jan 2024UK£13.8bUK£21.3bUK£1.9b11.6x7.3x0.6x
Sat, 23 Dec 2023UK£14.8bUK£21.3bUK£1.9b11.6x7.8x0.7x
Mon, 20 Nov 2023UK£12.7bUK£21.3bUK£1.9b11.6x6.7x0.6x
Wed, 18 Oct 2023UK£12.8bUK£21.3bUK£1.9b20x6.6x0.6x
Fri, 15 Sep 2023UK£12.8bUK£21.3bUK£1.9b22x6.6x0.6x
Sun, 13 Aug 2023UK£12.3bUK£21.3bUK£1.9b21.5x6.3x0.6x
Tue, 11 Jul 2023UK£13.0bUK£21.3bUK£1.9b14.1x6.7x0.6x
Thu, 08 Jun 2023UK£15.9bUK£21.3bUK£1.9b15.6x8.2x0.7x
Price to Earnings Ratio

8.2x


Total Market Cap: UK£15.9bTotal Earnings: UK£1.9bTotal Revenue: UK£21.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Telecom Services and Carriers Industry Price to Earnings3Y Average 20.5x202420252026
Current Industry PE
  • Investors are optimistic on the British Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 23.6x which is higher than its 3-year average PE of 20.5x.
  • The 3-year average PS ratio of 0.92x is lower than the industry's current PS ratio of 1.1x.
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 2.5% 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 U.K. Telecom industry?

GB Market-0.29%
Telecom-0.90%
Telecom Services and Carriers-5.55%
Alternative Carriers-2.19%
Integrated Telecom Services-5.66%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 20.8x.
    • Analysts are expecting annual earnings growth of 20.7%, which is higher than its past year's earnings growth of 2.2% per year.
  • Investors are most pessimistic about the Alternative Carriers industry, which is trading below its 3-year average of 21.2x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings growth rate of 2.2% per year.
  • In contrast, the Alternative Carriers industry is expected to see its earnings grow by 2.5% 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
GAMA Gamma CommunicationsUK£9.840.05%
+UK£452.5k		-16.5%PE13.7x

Latest News

BT.A
UK£2.06
BT Group
7D
-8.5%
1Y
14.9%
Analysis Article • May 31

BT Group (LON:BT.A) Is Posting Promising Earnings But The Good News Doesn’t Stop There

The market seemed underwhelmed by last week's earnings announcement from BT Group plc ( LON:BT.A ) despite the healthy...
GAMA
UK£9.84
Gamma Communications
7D
0.05%
1Y
-16.5%
HTWS
UK£2.35
Helios Towers
7D
-4.2%
1Y
94.2%
Narrative Update • May 17

HTWS: Upgraded 2026 Tenancy Pipeline Will Support Future P/E Upside

Helios Towers' analyst price targets have moved higher, with recent revisions to £2.30 and £2.70. These changes are supported by updated assumptions around fair value, discount rate, revenue growth and future P/E.
ZEG
UK£18.02
Zegona Communications
7D
-0.9%
1Y
156.0%