Narrative Update • Jul 24
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- 7D-4.3%
- 3M-14.6%
- 1Y-24.3%
- YTD-15.9%
Over the last 7 days, the Telecom Services and Carriers industry has dropped 3.8%, driven by China Telecom declining 5.1%. However, the industry is down 22% over the past year. Looking forward, earnings are forecast to grow by 5.9% annually.
Industry Valuation and Performance
Has the Hong Kong Telecom Services and Carriers Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 08 Aug 2026 | HK$1.1t | HK$1.2t | HK$81.1b | 11.6x | 13.6x | 0.9x |
| Mon, 06 Jul 2026 | HK$1.0t | HK$1.3t | HK$80.3b | 10.9x | 13x | 0.8x |
| Wed, 03 Jun 2026 | HK$1.2t | HK$1.3t | HK$80.5b | 12.9x | 14.9x | 0.9x |
| Fri, 01 May 2026 | HK$1.2t | HK$1.3t | HK$79.8b | 13.4x | 15x | 0.9x |
| Sun, 29 Mar 2026 | HK$1.1t | HK$1.3t | HK$80.7b | 14.2x | 14x | 0.9x |
| Tue, 24 Feb 2026 | HK$1.2t | HK$1.3t | HK$82.6b | 15.3x | 14x | 0.9x |
| Thu, 22 Jan 2026 | HK$1.2t | HK$1.2t | HK$81.6b | 15.8x | 14.2x | 0.9x |
| Sat, 20 Dec 2025 | HK$1.3t | HK$1.2t | HK$80.6b | 13.4x | 15.9x | 1x |
| Mon, 17 Nov 2025 | HK$1.3t | HK$1.2t | HK$79.9b | 14x | 16.5x | 1.1x |
| Wed, 15 Oct 2025 | HK$1.3t | HK$1.2t | HK$78.7b | 13.7x | 16.3x | 1.1x |
| Fri, 12 Sep 2025 | HK$1.4t | HK$1.2t | HK$79.0b | 14.3x | 17.2x | 1.1x |
| Sun, 10 Aug 2025 | HK$1.4t | HK$1.2t | HK$77.5b | 15.2x | 17.8x | 1.1x |
| Tue, 08 Jul 2025 | HK$1.4t | HK$1.2t | HK$77.3b | 13.9x | 17.6x | 1.1x |
| Thu, 05 Jun 2025 | HK$1.4t | HK$1.2t | HK$77.1b | 14.4x | 17.8x | 1.1x |
| Sat, 03 May 2025 | HK$1.3t | HK$1.2t | HK$75.5b | 13.8x | 17.5x | 1.1x |
| Mon, 31 Mar 2025 | HK$1.3t | HK$1.2t | HK$74.8b | 15.1x | 17.5x | 1.1x |
| Wed, 26 Feb 2025 | HK$1.4t | HK$1.2t | HK$74.1b | 14.6x | 19x | 1.2x |
| Fri, 24 Jan 2025 | HK$1.2t | HK$1.2t | HK$73.8b | 12.5x | 15.9x | 1x |
| Sun, 22 Dec 2024 | HK$1.2t | HK$1.2t | HK$73.6b | 12.8x | 16.1x | 1x |
| Tue, 19 Nov 2024 | HK$1.1t | HK$1.2t | HK$74.4b | 11.7x | 15.2x | 1x |
| Thu, 17 Oct 2024 | HK$1.1t | HK$1.2t | HK$72.7b | 11x | 15.6x | 1x |
| Sat, 14 Sep 2024 | HK$1.0t | HK$1.2t | HK$73.1b | 9.9x | 14.3x | 0.9x |
| Mon, 12 Aug 2024 | HK$1.0t | HK$1.2t | HK$70.6b | 10.4x | 14.5x | 0.9x |
| Wed, 10 Jul 2024 | HK$1.1t | HK$1.1t | HK$69.4b | 12.1x | 16x | 1x |
| Fri, 07 Jun 2024 | HK$1.0t | HK$1.2t | HK$69.6b | 10.5x | 14.7x | 0.9x |
| Sun, 05 May 2024 | HK$1.0t | HK$1.2t | HK$69.7b | 11.5x | 14.6x | 0.9x |
| Tue, 02 Apr 2024 | HK$1.0t | HK$1.1t | HK$68.5b | 11.6x | 14.8x | 0.9x |
| Thu, 29 Feb 2024 | HK$1.0t | HK$1.1t | HK$67.6b | 11.9x | 14.9x | 0.9x |
| Sat, 27 Jan 2024 | HK$973.8b | HK$1.2t | HK$68.0b | 11.1x | 14.3x | 0.8x |
| Mon, 25 Dec 2023 | HK$889.1b | HK$1.2t | HK$68.0b | 9.5x | 13.1x | 0.8x |
| Wed, 22 Nov 2023 | HK$883.0b | HK$1.2t | HK$67.8b | 9.8x | 13x | 0.8x |
| Fri, 20 Oct 2023 | HK$949.7b | HK$1.1t | HK$66.8b | 10.9x | 14.2x | 0.8x |
| Sun, 17 Sep 2023 | HK$990.2b | HK$1.1t | HK$67.1b | 11.5x | 14.7x | 0.9x |
| Tue, 15 Aug 2023 | HK$996.5b | HK$1.1t | HK$67.1b | 11.4x | 14.9x | 0.9x |
Price to Earnings Ratio
14.9x
Current Industry PE
- Investors are pessimistic on the Hong Kong Telecom industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 13.9x which is lower than its 3-year average PE of 15.5x.
- The industry is trading close to its 3-year average PS ratio of 0.97x.
Past Earnings Growth
- The earnings for companies in the Telecom industry have grown 6.4% per year over the last three years.
- Revenues for these companies have grown 2.9% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Hong Kong Telecom industry?
| HK Market | -1.00% | |
| Telecom | -0.65% | |
| Telecom Services and Carriers | -4.32% | |
| Alternative Carriers | -3.35% | |
| Integrated Telecom Services | -4.33% | |
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 15.6x.
- Analysts are expecting annual earnings growth of 5.9%, which is higher than its past year's earnings growth of 4.3% per year.
- Investors are most pessimistic about the Alternative Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.5x.
Forecasted Growth
- Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 5.9% over the next 5 years.
- This is better than its past earnings growth rate of 4.3% per year.
- In contrast, the Alternative Carriers industry is expected to see its earnings grow by 4.9% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1045 APT Satellite Holdings | HK$2.21 | 2.6% +HK$51.1m | 5.5% | PE14.5x | |
| 524 Great Wall Terroir Holdings | HK$2.00 | 0.5% +HK$2.4m | 555.7% | PS4.5x |