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

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies3
  • 7D-0.6%
  • 3M-3.8%
  • 1Y-0.8%
  • YTD5.5%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 1.9%, driven by BT Group declining 0.4%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 11% 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
Sat, 27 Jun 2026UK£20.0bUK£20.3bUK£1.1b14.8x17.5x1x
Mon, 25 May 2026UK£27.0bUK£22.9bUK£1.1b17.1x25x1.2x
Wed, 22 Apr 2026UK£26.9bUK£23.3bUK£951.8m18.1x28.2x1.2x
Fri, 20 Mar 2026UK£26.1bUK£23.2bUK£953.9m17.2x27.3x1.1x
Sun, 15 Feb 2026UK£33.7bUK£23.3bUK£953.4m17.1x35.4x1.4x
Tue, 13 Jan 2026UK£29.7bUK£23.3bUK£953.5m15.4x31.1x1.3x
Thu, 11 Dec 2025UK£28.4bUK£23.3bUK£950.4m15.4x29.9x1.2x
Sat, 08 Nov 2025UK£27.4bUK£22.8bUK£704.6m16x38.9x1.2x
Mon, 06 Oct 2025UK£29.1bUK£23.1bUK£811.8m15.5x35.8x1.3x
Wed, 03 Sep 2025UK£30.3bUK£23.0bUK£815.7m16.5x37.2x1.3x
Fri, 01 Aug 2025UK£28.0bUK£23.0bUK£817.1m16.8x34.3x1.2x
Sun, 29 Jun 2025UK£25.3bUK£21.2bUK£1.1b16.6x23.6x1.2x
Tue, 27 May 2025UK£23.7bUK£21.2bUK£1.1b15.9x22.1x1.1x
Thu, 24 Apr 2025UK£22.4bUK£21.4bUK£783.2m19.3x28.6x1x
Sat, 22 Mar 2025UK£22.7bUK£21.3bUK£770.8m21x29.4x1.1x
Mon, 17 Feb 2025UK£20.5bUK£21.3bUK£771.0m21.2x26.6x1x
Wed, 15 Jan 2025UK£17.9bUK£21.3bUK£770.3m20.5x23.3x0.8x
Fri, 13 Dec 2024UK£18.8bUK£21.3bUK£771.5m27.5x24.4x0.9x
Sun, 10 Nov 2024UK£17.7bUK£21.3bUK£771.3m27.3x22.9x0.8x
Tue, 08 Oct 2024UK£18.5bUK£21.4bUK£896.9m28.4x20.6x0.9x
Thu, 05 Sep 2024UK£17.7bUK£21.3bUK£894.0m26.8x19.8x0.8x
Sat, 03 Aug 2024UK£17.6bUK£21.3bUK£893.9m26.7x19.6x0.8x
Mon, 01 Jul 2024UK£17.0bUK£21.3bUK£894.1m16.1x19x0.8x
Wed, 29 May 2024UK£15.9bUK£21.3bUK£894.0m14.7x17.7x0.7x
Fri, 26 Apr 2024UK£13.2bUK£21.3bUK£1.9b11.6x6.9x0.6x
Sun, 24 Mar 2024UK£13.4bUK£21.3bUK£1.9b11.6x7.1x0.6x
Tue, 20 Feb 2024UK£13.4bUK£21.3bUK£1.9b11.6x7x0.6x
Thu, 18 Jan 2024UK£13.5bUK£21.3bUK£1.9b11.6x7.1x0.6x
Sat, 16 Dec 2023UK£14.5bUK£21.3bUK£1.9b11.6x7.6x0.7x
Mon, 13 Nov 2023UK£13.0bUK£21.3bUK£1.9b21.1x6.9x0.6x
Wed, 11 Oct 2023UK£12.7bUK£21.3bUK£1.9b20.7x6.5x0.6x
Fri, 08 Sep 2023UK£12.3bUK£21.3bUK£1.9b20.9x6.3x0.6x
Sun, 06 Aug 2023UK£12.3bUK£21.3bUK£1.9b21.6x6.3x0.6x
Tue, 04 Jul 2023UK£13.3bUK£21.3bUK£1.9b14.2x6.8x0.6x
Price to Earnings Ratio

6.8x


Total Market Cap: UK£13.3bTotal 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 20.8x202420252026
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 Market1.14%
Telecom-1.05%
Telecom Services and Carriers-0.58%
Integrated Telecom Services-0.36%
Alternative Carriers-5.87%
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 21.2x.
    • Analysts are expecting annual earnings growth of 11.7%, 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 20.9x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 12% 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 3.5% 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
ZEG Zegona CommunicationsUK£17.201.7%
+UK£63.2m		150.0%PS1.2x

Latest News

BT.A
UK£1.95
BT Group
7D
-0.4%
1Y
0.6%
Narrative Update • Jun 25

BT.A: Margin Execution And Dividends Will Support Future Share Re Rating

BT Group's analyst price target has moved higher toward about £3.00 per share, with the change supported by recent research that highlights a modestly lower implied discount rate, slightly firmer profit margin expectations, and updated P/E assumptions, while revenue growth forecasts remain cautious. Analyst Commentary on BT Group Recent research on BT Group shows a mix of cautious and constructive views, with several bullish analysts focusing on valuation support and potential execution benefits.
HTWS
UK£2.14
Helios Towers
7D
-1.2%
1Y
76.6%
Narrative Update • Jun 25

HTWS: Expanded 2026 Tenancy Outlook And Lower Discount Rate Will Support Higher P/E

Analysts have raised their price target for Helios Towers by £0.45, citing updated assumptions around the company’s discount rate and valuation multiples reflected in recent research. What’s in the News for Helios Towers Helios Towers issued revised operating guidance for the full year 2026, providing updated expectations for its future activity.
GAMA
UK£8.43
Gamma Communications
7D
-5.9%
1Y
-26.0%
Narrative Update • Jun 17

GAMA: Potential Sale And Rising Margin Outlook Will Support Future Upside

Analysts have trimmed their price target on Gamma Communications to £13.99 from £14.00, citing updated assumptions around slightly lower revenue growth, a higher profit margin outlook, and a reduced future P/E multiple. What’s in the News for Gamma Communications Gamma Communications confirmed it is in preliminary discussions with several potential counterparties regarding a possible sale, with an offer period now commenced, following initial reporting by Bloomberg.
ZEG
UK£17.20
Zegona Communications
7D
1.7%
1Y
150.0%