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

UpdatedSep 10, 2026
DataAggregated Company Financials
Companies3
  • 7D-2.8%
  • 3M-2.9%
  • 1Y-1.2%
  • YTD8.6%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 2.7%, driven by a pullback from BT Group of 3.0%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 9.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 10 Sep 2026UK£20.5bUK£20.3bUK£1.1b16.6x17.9x1x
Sat, 08 Aug 2026UK£20.5bUK£20.3bUK£1.1b15.9x18x1x
Mon, 06 Jul 2026UK£19.3bUK£20.3bUK£1.1b14.5x16.9x1x
Wed, 03 Jun 2026UK£25.0bUK£22.9bUK£1.1b16x23.1x1.1x
Fri, 01 May 2026UK£26.4bUK£23.3bUK£952.3m17.7x27.7x1.1x
Sun, 29 Mar 2026UK£24.4bUK£23.3bUK£952.0m15.4x25.6x1x
Tue, 24 Feb 2026UK£25.2bUK£23.3bUK£953.0m16.7x26.4x1.1x
Thu, 22 Jan 2026UK£31.0bUK£23.3bUK£953.2m15.6x32.5x1.3x
Sat, 20 Dec 2025UK£28.9bUK£23.3bUK£952.9m15.7x30.3x1.2x
Mon, 17 Nov 2025UK£27.2bUK£22.8bUK£703.6m15.8x38.6x1.2x
Wed, 15 Oct 2025UK£28.4bUK£23.1bUK£811.7m15.4x35x1.2x
Fri, 12 Sep 2025UK£30.3bUK£23.1bUK£814.0m16.3x37.2x1.3x
Sun, 10 Aug 2025UK£28.8bUK£23.0bUK£816.7m16.7x35.3x1.3x
Tue, 08 Jul 2025UK£25.9bUK£21.2bUK£1.1b16.6x24.2x1.2x
Thu, 05 Jun 2025UK£24.1bUK£21.2bUK£1.1b16.3x22.5x1.1x
Sat, 03 May 2025UK£23.2bUK£21.4bUK£783.3m20.1x29.7x1.1x
Mon, 31 Mar 2025UK£22.6bUK£21.4bUK£784.2m19.1x28.8x1.1x
Wed, 26 Feb 2025UK£20.7bUK£21.3bUK£771.2m21.1x26.8x1x
Fri, 24 Jan 2025UK£18.1bUK£21.3bUK£770.4m20.1x23.5x0.8x
Sun, 22 Dec 2024UK£18.1bUK£21.3bUK£771.2m22.3x23.5x0.8x
Tue, 19 Nov 2024UK£18.1bUK£21.3bUK£771.0m27.2x23.5x0.8x
Thu, 17 Oct 2024UK£18.4bUK£21.4bUK£896.9m27.8x20.6x0.9x
Sat, 14 Sep 2024UK£18.4bUK£21.4bUK£896.8m28.6x20.5x0.9x
Mon, 12 Aug 2024UK£16.7bUK£21.3bUK£893.9m27.2x18.6x0.8x
Wed, 10 Jul 2024UK£17.0bUK£21.3bUK£894.1m16.1x19.1x0.8x
Fri, 07 Jun 2024UK£16.4bUK£21.3bUK£894.0m15.2x18.3x0.8x
Sun, 05 May 2024UK£13.1bUK£21.3bUK£1.9b11.6x6.9x0.6x
Tue, 02 Apr 2024UK£13.6bUK£21.3bUK£1.9b11.6x7.2x0.6x
Thu, 29 Feb 2024UK£12.9bUK£21.3bUK£1.9b11.6x6.8x0.6x
Sat, 27 Jan 2024UK£13.8bUK£21.3bUK£1.9b11.6x7.3x0.6x
Mon, 25 Dec 2023UK£14.8bUK£21.3bUK£1.9b11.6x7.8x0.7x
Wed, 22 Nov 2023UK£12.6bUK£21.3bUK£1.9b11.6x6.7x0.6x
Fri, 20 Oct 2023UK£12.4bUK£21.3bUK£1.9b19.4x6.4x0.6x
Sun, 17 Sep 2023UK£12.6bUK£21.3bUK£1.9b22.4x6.5x0.6x
Price to Earnings Ratio

6.5x


Total Market Cap: UK£12.6bTotal 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 21.6x202420252026
Current Industry PE
    There are only 3 companies in the British Telecom industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 16% 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 industry?

GB Market-0.70%
Telecom0.85%
Telecom Services and Carriers-2.75%
Alternative Carriers1.38%
Integrated Telecom Services-2.97%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry even though it's trading below its 3-year average PE ratio of 22.0x.
    • Analysts are expecting annual earnings growth of 9.7%, 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 20.2x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 9.7% 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 2.3% 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
ZEG Zegona CommunicationsUK£16.140.6%
+UK£22.6m		30.7%PS1.2x
GAMA Gamma CommunicationsUK£11.740.9%
+UK£8.9m		19.1%PE15.2x

Latest News

GAMA
UK£11.74
Gamma Communications
7D
0.9%
1Y
19.1%
HTWS
UK£1.96
Helios Towers
7D
-3.5%
1Y
37.1%
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.
BT.A
UK£2.00
BT Group
7D
-1.6%
1Y
-2.2%
ZEG
UK£16.14
Zegona Communications
7D
0.6%
1Y
30.7%