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

UpdatedOct 26, 2025
DataAggregated Company Financials
Companies5
  • 7D-0.8%
  • 3M1.5%
  • 1Y56.9%
  • YTD49.2%

The Telecom Services and Carriers industry has been flat over the last week, but Zegona Communications has lost 5.1%. As for the the longer term, the industry is up 57% over the past 12 months. 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
Mon, 27 Oct 2025UK£28.4bUK£23.1bUK£810.7m15.7x35.1x1.2x
Wed, 24 Sep 2025UK£29.2bUK£23.1bUK£810.7m16x36x1.3x
Fri, 22 Aug 2025UK£30.3bUK£23.0bUK£816.7m17.1x37.1x1.3x
Sun, 20 Jul 2025UK£26.0bUK£23.0bUK£816.5m16.5x31.8x1.1x
Tue, 17 Jun 2025UK£24.9bUK£21.2bUK£1.1b16.3x23.3x1.2x
Thu, 15 May 2025UK£21.8bUK£21.4bUK£783.9m18.2x27.9x1x
Sat, 12 Apr 2025UK£21.5bUK£21.4bUK£782.4m18.4x27.5x1x
Mon, 10 Mar 2025UK£21.5bUK£21.3bUK£770.7m21.5x27.9x1x
Wed, 05 Feb 2025UK£19.1bUK£21.3bUK£771.1m20.6x24.7x0.9x
Fri, 03 Jan 2025UK£19.1bUK£21.3bUK£771.3m22.4x24.8x0.9x
Sun, 01 Dec 2024UK£19.8bUK£21.3bUK£771.3m26.8x25.7x0.9x
Tue, 29 Oct 2024UK£18.0bUK£21.4bUK£897.0m26.9x20.1x0.8x
Thu, 26 Sep 2024UK£18.9bUK£21.4bUK£896.9m29.2x21.1x0.9x
Sat, 24 Aug 2024UK£17.2bUK£21.3bUK£894.0m27.1x19.2x0.8x
Mon, 22 Jul 2024UK£17.2bUK£21.3bUK£894.1m16.3x19.2x0.8x
Wed, 19 Jun 2024UK£17.1bUK£21.3bUK£894.1m16.2x19.2x0.8x
Fri, 17 May 2024UK£16.0bUK£21.3bUK£1.9b11.6x8.5x0.8x
Sun, 14 Apr 2024UK£13.5bUK£21.3bUK£1.9b11.6x7.1x0.6x
Tue, 12 Mar 2024UK£13.3bUK£21.3bUK£1.9b11.6x7x0.6x
Thu, 08 Feb 2024UK£13.0bUK£21.3bUK£1.9b11.6x6.8x0.6x
Sat, 06 Jan 2024UK£14.3bUK£21.3bUK£1.9b11.6x7.5x0.7x
Mon, 04 Dec 2023UK£14.3bUK£21.3bUK£1.9b11.6x7.6x0.7x
Wed, 01 Nov 2023UK£12.1bUK£21.3bUK£1.9b19.8x6.2x0.6x
Fri, 29 Sep 2023UK£12.4bUK£21.3bUK£1.9b20.5x6.4x0.6x
Sun, 27 Aug 2023UK£12.1bUK£21.3bUK£1.9b21.1x6.2x0.6x
Tue, 25 Jul 2023UK£13.7bUK£21.3bUK£1.9b14.3x7x0.6x
Thu, 22 Jun 2023UK£14.0bUK£21.3bUK£1.9b14.9x7.2x0.7x
Sat, 20 May 2023UK£15.5bUK£21.3bUK£1.9b15.1x8x0.7x
Mon, 17 Apr 2023UK£16.6bUK£21.4bUK£1.7b15.4x9.5x0.8x
Wed, 15 Mar 2023UK£15.3bUK£21.3bUK£1.7b13.7x8.8x0.7x
Fri, 10 Feb 2023UK£14.4bUK£21.3bUK£1.7b13.6x8.2x0.7x
Sun, 08 Jan 2023UK£13.6bUK£21.5bUK£1.8b12.7x7.6x0.6x
Tue, 06 Dec 2022UK£13.0bUK£21.5bUK£1.8b12.2x7.3x0.6x
Thu, 03 Nov 2022UK£13.7bUK£21.5bUK£1.7b18.8x7.9x0.6x
Price to Earnings Ratio

7.9x


Total Market Cap: UK£13.7bTotal 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 16.1x202320242025
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 35.1x which is higher than its 3-year average PE of 16.1x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.2x.
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 Market3.02%
Telecom1.59%
Telecom Services and Carriers-0.78%
Alternative Carriers3.20%
Integrated Telecom Services-0.91%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 16.0x.
    • Analysts are expecting annual earnings growth of 30.1%, 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 22.9x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 30% 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 7.5% 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
BT.A BT GroupUK£1.871.3%
+UK£239.9m		29.5%PE17.4x
HTWS Helios TowersUK£1.462.5%
+UK£37.9m		29.8%PE24.2x
GAMA Gamma CommunicationsUK£10.143.3%
+UK£29.5m		-36.8%PE14.1x

Latest News

BT.A
UK£1.87
BT Group
7D
1.3%
1Y
29.5%

UK Fiber And 5G Expansion Will Drive Future Customer Acquisition

BT Group’s updated analyst price targets reflect a modest range of downward and upward revisions, now spanning from £1.40 to £2.25 per share. Analysts cite imminent telecom sector mergers and declining Openreach performance among the key factors behind these changed outlooks.
HTWS
UK£1.46
Helios Towers
7D
2.5%
1Y
29.8%

Urbanization And Mobile Demand Will Transform Telecom Infrastructure

Analysts have slightly reduced their price target for Helios Towers from £2.55 to £2.45 per share. They cite updated discount rate assumptions and current market conditions as the reasons for this adjustment.
BBB
UK£0.20
Bigblu Broadband
7D
-2.5%
1Y
-26.4%
ZEG
UK£12.10
Zegona Communications
7D
-5.1%
1Y
268.9%

An Intrinsic Calculation For Zegona Communications plc (LON:ZEG) Suggests It's 29% Undervalued

Oct 07
An Intrinsic Calculation For Zegona Communications plc (LON:ZEG) Suggests It's 29% Undervalued
GAMA
UK£10.14
Gamma Communications
7D
3.3%
1Y
-36.8%

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