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

UpdatedSep 16, 2025
DataAggregated Company Financials
Companies5
  • 7D0.4%
  • 3M19.7%
  • 1Y61.7%
  • YTD57.3%

Last week, the Telecom Services and Carriers industry hasn't moved much but Zegona Communications is up 3.8% in that time. The past year has been better, since the industry has gained 62% in that time. Looking forward, earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Sep 2025UK£30.0bUK£23.1bUK£814.0m16.4x36.8x1.3x
Thu, 14 Aug 2025UK£30.2bUK£23.0bUK£818.1m17.1x36.9x1.3x
Sat, 12 Jul 2025UK£25.9bUK£21.2bUK£1.1b16.3x24.2x1.2x
Mon, 09 Jun 2025UK£24.1bUK£21.2bUK£1.1b16.3x22.5x1.1x
Wed, 07 May 2025UK£23.2bUK£21.4bUK£783.4m20x29.6x1.1x
Fri, 04 Apr 2025UK£23.1bUK£21.4bUK£783.9m19.6x29.5x1.1x
Sun, 02 Mar 2025UK£21.2bUK£21.3bUK£771.5m21.4x27.5x1x
Tue, 28 Jan 2025UK£18.0bUK£21.3bUK£770.5m19.9x23.4x0.8x
Thu, 26 Dec 2024UK£18.7bUK£21.3bUK£771.2m22.3x24.2x0.9x
Sat, 23 Nov 2024UK£18.8bUK£21.3bUK£771.3m26.9x24.4x0.9x
Mon, 21 Oct 2024UK£18.4bUK£21.4bUK£897.0m28.3x20.6x0.9x
Wed, 18 Sep 2024UK£18.4bUK£21.4bUK£896.8m28.7x20.5x0.9x
Fri, 16 Aug 2024UK£18.3bUK£21.3bUK£893.9m26.5x20.4x0.9x
Sun, 14 Jul 2024UK£17.1bUK£21.3bUK£894.2m16.2x19.1x0.8x
Tue, 11 Jun 2024UK£16.3bUK£21.3bUK£894.1m14.9x18.3x0.8x
Thu, 09 May 2024UK£13.1bUK£21.3bUK£1.9b11.6x6.9x0.6x
Sat, 06 Apr 2024UK£13.2bUK£21.3bUK£1.9b11.6x6.9x0.6x
Mon, 04 Mar 2024UK£12.9bUK£21.3bUK£1.9b11.6x6.8x0.6x
Wed, 31 Jan 2024UK£13.5bUK£21.3bUK£1.9b11.6x7.1x0.6x
Fri, 29 Dec 2023UK£14.5bUK£21.3bUK£1.9b11.6x7.6x0.7x
Sun, 26 Nov 2023UK£13.1bUK£21.3bUK£1.9b11.6x6.9x0.6x
Tue, 24 Oct 2023UK£11.9bUK£21.3bUK£1.9b19.4x6.1x0.6x
Thu, 21 Sep 2023UK£13.0bUK£21.3bUK£1.9b21.9x6.7x0.6x
Sat, 19 Aug 2023UK£12.0bUK£21.3bUK£1.9b20.5x6.2x0.6x
Mon, 17 Jul 2023UK£13.5bUK£21.3bUK£1.9b14.3x6.9x0.6x
Wed, 14 Jun 2023UK£15.1bUK£21.3bUK£1.9b15.3x7.7x0.7x
Fri, 12 May 2023UK£16.2bUK£21.4bUK£1.7b15.9x9.3x0.8x
Sun, 09 Apr 2023UK£15.8bUK£21.4bUK£1.7b14.9x9.1x0.7x
Tue, 07 Mar 2023UK£15.9bUK£21.3bUK£1.7b14.3x9.1x0.7x
Thu, 02 Feb 2023UK£13.4bUK£21.5bUK£1.8b13.2x7.5x0.6x
Sat, 31 Dec 2022UK£12.1bUK£21.5bUK£1.8b12.1x6.8x0.6x
Mon, 28 Nov 2022UK£13.6bUK£21.5bUK£1.8b12.7x7.7x0.6x
Wed, 26 Oct 2022UK£13.5bUK£21.5bUK£1.7b17.8x7.8x0.6x
Fri, 23 Sep 2022UK£14.4bUK£21.5bUK£1.7b18.4x8.3x0.7x
Price to Earnings Ratio

8.3x


Total Market Cap: UK£14.4bTotal Earnings: UK£1.7bTotal Revenue: UK£21.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Telecom Services and Carriers Industry Price to Earnings3Y Average 15.8x202320242025
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 36.8x which is higher than its 3-year average PE of 15.8x.
  • The 3-year average PS ratio of 0.84x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 22% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.4% 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 Market0.42%
Telecom-0.087%
Telecom Services and Carriers0.39%
Integrated Telecom Services0.57%
Alternative Carriers-4.84%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 15.6x.
    • Analysts are expecting annual earnings growth of 29.4%, which is higher than its past year's earnings growth of 23.3% per year.
  • Investors are most pessimistic about the Alternative Carriers industry, which is trading below its 3-year average of 24.7x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 23% per year.
  • In contrast, the Alternative Carriers industry is expected to see its earnings grow by 9.2% 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
HTWS Helios TowersUK£1.425.5%
+UK£78.0m		27.8%PE24.2x
ZEG Zegona CommunicationsUK£11.800.4%
+UK£38.0m		257.6%PS4.3x

Latest News

BT.A
UK£1.99
BT Group
7D
-2.4%
1Y
34.4%
GAMA
UK£9.88
Gamma Communications
7D
-3.5%
1Y
-41.5%

Gamma Communications (LON:GAMA) Is Due To Pay A Dividend Of £0.074

Sep 12
Gamma Communications (LON:GAMA) Is Due To Pay A Dividend Of £0.074
ZEG
UK£11.80
Zegona Communications
7D
0.4%
1Y
257.6%

Zegona's Future EPS Set to Triple with Vodafone Spain Acquisition

Zegona – Key Notes for Monitoring 1. Main thesis: Zegona acquired Vodafone Spain (EV €5.0 B) with very little cash outlay thanks to debt financing and €900 M in Redeemable Preference Shares (RPS) issued to Vodafone via EJLSHM Funding Ltd.
HTWS
UK£1.42
Helios Towers
7D
5.5%
1Y
27.8%
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