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South African (JSE) Telecom Sector Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies10
  • 7D2.0%
  • 3M-2.9%
  • 1Y60.4%
  • YTD52.4%

In the last week, the Telecom industry is up 1.5%, with MTN Group leading the way, up 2.3%. Meanwhile, Blu Label Unlimited Group actually underperformed within the industry, shrinking 11% in the last week. In the last 12 months, the industry was up 61%. Looking forward, earnings are forecast to grow by 31% annually.

Sector Valuation and Performance

Has the South African Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 15 Nov 2025R674.0bR486.0bR33.7b8.9x20x1.4x
Mon, 13 Oct 2025R645.0bR478.0bR31.4b9.8x20.5x1.3x
Wed, 10 Sep 2025R613.1bR477.9bR31.5b8.8x19.4x1.3x
Fri, 08 Aug 2025R670.6bR459.8bR12.5b12.9x53.5x1.5x
Sun, 06 Jul 2025R616.8bR459.8bR12.5b12.9x49.2x1.3x
Tue, 03 Jun 2025R529.2bR408.2bR10.2b10.7x51.9x1.3x
Thu, 01 May 2025R519.9bR407.2bR8.4b10.1x62.1x1.3x
Sat, 29 Mar 2025R494.8bR407.2bR8.4b9.5x59.1x1.2x
Mon, 24 Feb 2025R463.1bR417.9bR10.5b8.9x44.3x1.1x
Wed, 22 Jan 2025R428.8bR418.2bR10.5b8.3x41x1x
Fri, 20 Dec 2024R372.2bR418.2bR10.5b8.4x35.6x0.9x
Sun, 17 Nov 2024R370.8bR417.5bR10.4b8x35.7x0.9x
Tue, 15 Oct 2024R390.8bR416.7bR11.9b8.5x32.8x0.9x
Thu, 12 Sep 2024R403.9bR417.0bR11.9b8.3x33.9x1x
Sat, 10 Aug 2024R364.8bR441.3bR23.5b8.2x15.5x0.8x
Mon, 08 Jul 2024R365.6bR441.3bR23.5b7.8x15.5x0.8x
Wed, 05 Jun 2024R350.0bR442.7bR12.4b10.7x28.2x0.8x
Fri, 03 May 2024R365.9bR430.2bR13.5b9.7x27x0.9x
Sun, 31 Mar 2024R384.9bR430.2bR13.5b10.5x28.4x0.9x
Tue, 27 Feb 2024R364.6bR431.9bR30.1b7.7x12.1x0.8x
Thu, 25 Jan 2024R417.1bR434.1bR29.6b9.7x14.1x1x
Sat, 23 Dec 2023R431.6bR434.1bR29.6b10x14.6x1x
Mon, 20 Nov 2023R389.3bR433.5bR29.4b8.2x13.3x0.9x
Wed, 18 Oct 2023R448.6bR473.6bR25.2b9.5x17.8x0.9x
Fri, 15 Sep 2023R482.1bR473.6bR25.2b7.7x19.1x1x
Sun, 13 Aug 2023R512.6bR457.2bR24.1b5.7x21.3x1.1x
Tue, 11 Jul 2023R519.3bR457.6bR24.1b6.9x21.5x1.1x
Thu, 08 Jun 2023R527.3bR454.7bR39.2b6.8x13.4x1.2x
Sat, 06 May 2023R519.9bR442.1bR38.8b7.3x13.4x1.2x
Mon, 03 Apr 2023R546.3bR442.1bR38.8b7.9x14.1x1.2x
Wed, 01 Mar 2023R595.3bR427.0bR38.5b8.2x15.5x1.4x
Fri, 27 Jan 2023R569.5bR426.3bR39.1b7.3x14.6x1.3x
Sun, 25 Dec 2022R550.4bR426.3bR39.1b6.8x14.1x1.3x
Tue, 22 Nov 2022R527.9bR424.6bR41.8b6.6x12.6x1.2x
Price to Earnings Ratio

12.6x


Total Market Cap: R527.9bTotal Earnings: R41.8bTotal Revenue: R424.6bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Telecom Sector Price to Earnings3Y Average 26.5x202320242025
Current Industry PE
  • Investors are pessimistic on the South African 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 20.0x which is lower than its 3-year average PE of 26.4x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 7.0% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.6% 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 South African Telecom sector?

ZA Market2.26%
Telecom2.02%
Wireless Telecom2.30%
Telecom Services and Carriers1.68%
Media-0.37%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 20.6x.
    • Analysts are expecting annual earnings growth of 37.5%, which is higher than its past year's earnings decline of 8.2% 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 5.4x.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings decline of 8.2% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 7.2% 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
MTN MTN GroupR168.452.3%
+R6.8b		105.3%PE40.9x
VOD Vodacom GroupR139.392.3%
+R6.2b		37.1%PE14.3x
TKG Telkom SA SOCR50.558.1%
+R1.9b		75.3%PE9.1x

Latest News

BLU
R11.06
Blu Label Unlimited Group
7D
-11.4%
1Y
106.7%
VOD
R139.39
Vodacom Group
7D
2.3%
1Y
37.1%

Vodacom Group (JSE:VOD) Will Pay A Dividend Of ZAR3.30

Nov 13
Vodacom Group (JSE:VOD) Will Pay A Dividend Of ZAR3.30
MTN
R168.45
MTN Group
7D
2.3%
1Y
105.3%
CAT
R13.30
Caxton and CTP Publishers and Printers
7D
-4.2%
1Y
4.7%

Caxton and CTP Publishers and Printers' (JSE:CAT) Dividend Will Be Increased To ZAR0.70

Oct 29
Caxton and CTP Publishers and Printers' (JSE:CAT) Dividend Will Be Increased To ZAR0.70
TKG
R50.55
Telkom SA SOC
7D
8.1%
1Y
75.3%

Telkom SA SOC Ltd's (JSE:TKG) Share Price Not Quite Adding Up

Oct 28
Telkom SA SOC Ltd's (JSE:TKG) Share Price Not Quite Adding Up
HUG
R1.25
Huge Group
7D
-10.7%
1Y
-37.2%
EMH
R2.10
eMedia Holdings
7D
-1.4%
1Y
-38.6%