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

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies4
  • 7D2.4%
  • 3M17.7%
  • 1Y39.4%
  • YTD20.2%

In the last week, Telecom Services and Carriers has been flat. The past year has been better, since the industry has gained 38% in that time. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026UK£26.7bUK£23.3bUK£951.9m17.6x28.1x1.1x
Fri, 13 Mar 2026UK£25.6bUK£23.3bUK£953.8m16.9x26.9x1.1x
Sun, 08 Feb 2026UK£33.1bUK£23.3bUK£953.5m16.9x34.7x1.4x
Tue, 06 Jan 2026UK£28.7bUK£23.3bUK£953.6m15.5x30.1x1.2x
Thu, 04 Dec 2025UK£29.3bUK£23.3bUK£950.3m15.5x30.9x1.3x
Sat, 01 Nov 2025UK£28.4bUK£23.1bUK£809.4m15.5x35.1x1.2x
Mon, 29 Sep 2025UK£29.4bUK£23.1bUK£811.1m15.8x36.2x1.3x
Wed, 27 Aug 2025UK£31.2bUK£23.0bUK£817.2m17.2x38.2x1.4x
Fri, 25 Jul 2025UK£28.4bUK£23.0bUK£814.9m17.4x34.9x1.2x
Sun, 22 Jun 2025UK£25.5bUK£21.2bUK£1.1b16.5x23.8x1.2x
Tue, 20 May 2025UK£22.8bUK£21.4bUK£783.9m18.6x29.1x1.1x
Thu, 17 Apr 2025UK£22.2bUK£21.4bUK£782.8m19.1x28.4x1x
Sat, 15 Mar 2025UK£21.1bUK£21.3bUK£770.5m20.9x27.4x1x
Mon, 10 Feb 2025UK£19.9bUK£21.3bUK£771.1m20.8x25.8x0.9x
Wed, 08 Jan 2025UK£18.9bUK£21.3bUK£771.2m22x24.5x0.9x
Fri, 06 Dec 2024UK£19.7bUK£21.3bUK£771.4m27.6x25.5x0.9x
Sun, 03 Nov 2024UK£17.8bUK£21.4bUK£896.9m27.3x19.8x0.8x
Tue, 01 Oct 2024UK£18.7bUK£21.4bUK£897.0m28.3x20.8x0.9x
Thu, 29 Aug 2024UK£17.4bUK£21.3bUK£894.1m27.6x19.5x0.8x
Sat, 27 Jul 2024UK£17.6bUK£21.3bUK£894.1m16.1x19.7x0.8x
Mon, 24 Jun 2024UK£17.2bUK£21.3bUK£894.1m16.2x19.2x0.8x
Wed, 22 May 2024UK£15.6bUK£21.3bUK£894.0m14.6x17.5x0.7x
Fri, 19 Apr 2024UK£13.2bUK£21.3bUK£1.9b11.6x7x0.6x
Sun, 17 Mar 2024UK£13.4bUK£21.3bUK£1.9b11.6x7.1x0.6x
Tue, 13 Feb 2024UK£13.0bUK£21.3bUK£1.9b11.6x6.9x0.6x
Thu, 11 Jan 2024UK£13.8bUK£21.3bUK£1.9b11.6x7.3x0.6x
Sat, 09 Dec 2023UK£15.1bUK£21.3bUK£1.9b11.6x8x0.7x
Mon, 06 Nov 2023UK£13.2bUK£21.3bUK£1.9b20.9x7x0.6x
Wed, 04 Oct 2023UK£12.4bUK£21.3bUK£1.9b20.2x6.4x0.6x
Fri, 01 Sep 2023UK£12.4bUK£21.3bUK£1.9b21.2x6.4x0.6x
Sun, 30 Jul 2023UK£13.5bUK£21.3bUK£1.9b14.2x6.9x0.6x
Tue, 27 Jun 2023UK£13.6bUK£21.3bUK£1.9b14.4x7x0.6x
Thu, 25 May 2023UK£15.8bUK£21.3bUK£1.9b15.3x8.2x0.7x
Sat, 22 Apr 2023UK£16.5bUK£21.4bUK£1.7b15.7x9.4x0.8x
Price to Earnings Ratio

9.4x


Total Market Cap: UK£16.5bTotal Earnings: UK£1.7bTotal Revenue: UK£21.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Telecom Services and Carriers Industry Price to Earnings3Y Average 19.7x202420252026
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 27.6x which is higher than its 3-year average PE of 19.7x.
  • The 3-year average PS ratio of 0.90x 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 3.0% 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 Market2.94%
Telecom2.77%
Telecom Services and Carriers2.38%
Alternative Carriers17.40%
Integrated Telecom Services1.99%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 19.9x.
    • Analysts expect its future annual earnings growth (22.0%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Alternative Carriers industry, which is trading below its 3-year average of 21.7x.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Alternative Carriers industry is expected to see its earnings grow by 6.6% 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£2.202.7%
+UK£573.1m		32.0%PE23.1x
GAMA Gamma CommunicationsUK£8.6017.4%
+UK£115.6m		-31.1%PE12.1x
HTWS Helios TowersUK£2.003.8%
+UK£75.8m		86.2%PE71x

Latest News

GAMA
UK£8.60
Gamma Communications
7D
17.4%
1Y
-31.1%
HTWS
UK£2.00
Helios Towers
7D
3.8%
1Y
86.2%
BT.A
UK£2.20
BT Group
7D
2.7%
1Y
32.0%

BT.A: Fiber Monetisation Will Support Future Re Rating On Cash Generation Potential

BT Group's analyst price targets have moved higher, with recent raises to £1.50 and £2.50 and fresh conviction list inclusion, as analysts point to updated fair value assumptions, expectations around fiber monetization, and future P/E levels. Analyst Commentary Recent research updates cluster around higher price targets and renewed attention on BT Group, with several bullish analysts highlighting valuation support and execution on long term initiatives such as fiber.
ZEG
UK£17.50
Zegona Communications
7D
-1.7%
1Y
182.3%