Narrative Update • Jun 26
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Dutch (AEX) Telecom Sector Analysis
UpdatedJun 29, 2026
DataAggregated Company Financials
Companies5
- 7D-0.7%
- 3M5.8%
- 1Y-22.2%
- YTD-8.3%
The Telecom industry has stayed flat over the last week. As for the longer term, the industry has declined 22% in the last year. Earnings are forecast to grow by 8.1% annually.
Sector Valuation and Performance
Has the Dutch Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 29 Jun 2026 | €52.3b | €21.4b | €2.5b | 21.1x | 20.6x | 2.4x |
| Wed, 27 May 2026 | €55.9b | €21.4b | €2.5b | 22.4x | 22x | 2.6x |
| Fri, 24 Apr 2026 | €56.0b | €21.4b | €2.5b | 23x | 22.3x | 2.6x |
| Sun, 22 Mar 2026 | €48.8b | €21.9b | €2.4b | 13.4x | 20x | 2.2x |
| Tue, 17 Feb 2026 | €54.6b | €21.7b | €3.6b | 10.6x | 15.3x | 2.5x |
| Thu, 15 Jan 2026 | €56.9b | €21.6b | €3.5b | 12.6x | 16.3x | 2.6x |
| Sat, 13 Dec 2025 | €56.9b | €21.6b | €3.5b | 12x | 16.3x | 2.6x |
| Mon, 10 Nov 2025 | €58.1b | €21.6b | €3.5b | 12x | 16.7x | 2.7x |
| Wed, 08 Oct 2025 | €61.0b | €21.6b | €3.5b | 12.5x | 17.5x | 2.8x |
| Fri, 05 Sep 2025 | €62.4b | €21.6b | €3.5b | 12.8x | 18x | 2.9x |
| Sun, 03 Aug 2025 | €61.2b | €21.6b | €3.5b | 12.5x | 17.7x | 2.8x |
| Tue, 01 Jul 2025 | €68.2b | €21.1b | €3.0b | 14.3x | 23.1x | 3.2x |
| Thu, 29 May 2025 | €69.5b | €21.1b | €3.0b | 14.6x | 23.5x | 3.3x |
| Sat, 26 Apr 2025 | €62.5b | €21.0b | €3.0b | 13.7x | 21x | 3x |
| Mon, 24 Mar 2025 | €63.2b | €21.0b | €3.0b | 13.4x | 21.3x | 3x |
| Wed, 19 Feb 2025 | €68.1b | €20.7b | €2.5b | 12.8x | 27.6x | 3.3x |
| Fri, 17 Jan 2025 | €60.2b | €20.7b | €2.5b | 12.9x | 24.4x | 2.9x |
| Sun, 15 Dec 2024 | €59.1b | €17.8b | €2.3b | 17.5x | 25.8x | 3.3x |
| Tue, 12 Nov 2024 | €57.2b | €17.8b | €2.4b | 13.1x | 24.3x | 3.2x |
| Thu, 10 Oct 2024 | €58.0b | €17.7b | €2.3b | 14.1x | 24.7x | 3.3x |
| Sat, 07 Sep 2024 | €56.9b | €17.7b | €2.3b | 14x | 24.2x | 3.2x |
| Mon, 05 Aug 2024 | €53.6b | €17.7b | €2.4b | 13.1x | 22.8x | 3x |
| Wed, 03 Jul 2024 | €64.7b | €17.3b | €2.1b | 13.7x | 31.6x | 3.7x |
| Fri, 31 May 2024 | €65.3b | €17.3b | €2.1b | 12.8x | 31.8x | 3.8x |
| Sun, 28 Apr 2024 | €64.2b | €17.3b | €2.1b | 15.4x | 31.2x | 3.7x |
| Tue, 26 Mar 2024 | €62.9b | €17.3b | €2.1b | 13x | 29.5x | 3.6x |
| Thu, 22 Feb 2024 | €62.7b | €17.0b | €2.1b | 13x | 30x | 3.7x |
| Sat, 20 Jan 2024 | €62.7b | €16.9b | €2.1b | 13.9x | 30.5x | 3.7x |
| Mon, 18 Dec 2023 | €60.3b | €16.9b | €2.1b | 14.9x | 29.3x | 3.6x |
| Wed, 15 Nov 2023 | €57.0b | €16.9b | €2.0b | 14.7x | 28.8x | 3.4x |
| Fri, 13 Oct 2023 | €59.4b | €16.9b | €2.0b | 14.5x | 29.9x | 3.5x |
| Sun, 10 Sep 2023 | €55.9b | €16.9b | €2.0b | 14.2x | 28.1x | 3.3x |
| Tue, 08 Aug 2023 | €56.0b | €16.8b | €2.0b | 14.9x | 28.1x | 3.3x |
| Thu, 06 Jul 2023 | €51.0b | €16.4b | €1.6b | 12.3x | 32.3x | 3.1x |
Price to Earnings Ratio
32.3x
Current Industry PE
- Investors are pessimistic on the Dutch Communication Services 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 20.6x which is lower than its 3-year average PE of 24.4x.
- The 3-year average PS ratio of 3.1x is higher than the industry's current PS ratio of 2.4x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have grown 17% per year over the last three years.
- Revenues for these companies have grown 9.3% 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 Dutch Telecom sector?
| NL Market | -3.01% | |
| Telecom | -0.69% | |
| Telecom Services and Carriers | 2.57% | |
| Interactive Media and Services | 0% | 0 |
| Media | 0% | 0 |
| Entertainment | -2.23% | |
Industry PE
- Investors are most optimistic about the Entertainment industry even though it's trading below its 3-year average PE ratio of 28.8x.
- Analysts are expecting annual earnings growth of 8.1%, which is higher than its past year's earnings decline of 26.5% per year.
- Investors are most pessimistic about the Telecom Services and Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 18.3x.
Forecasted Growth
- Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 8.1% over the next 5 years.
- This is better than its past earnings decline of 27% per year.
- In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 8.1% 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 | |
|---|---|---|---|---|---|
| KPN Koninklijke KPN | €4.47 | 2.4% +€396.8m | 8.0% | PE20.3x | |
| UMG Universal Music Group | €18.36 | 0.3% +€91.6m | -33.2% | PE21.9x | |
| AZRN Azerion Group | €1.01 | 1.0% +€1.2m | -16.5% | PS0.2x | |
| AJAX AFC Ajax | €8.56 | 0.2% +€366.7k | -11.8% | PS0.8x |
