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South African (JSE) Telecom Sector Analysis

UpdatedDec 02, 2025
DataAggregated Company Financials
Companies11
  • 7D-4.1%
  • 3M2.0%
  • 1Y51.2%
  • YTD43.8%

Over the last 7 days, the Telecom industry has dropped 4.8%, driven by a pullback from MTN Group of 5.5%. Over the past 12 months, the industry was up 53%. Looking forward, earnings are forecast to grow by 33% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Dec 2025R648.1bR486.7bR34.4b8.2x18.8x1.3x
Thu, 30 Oct 2025R676.6bR478.0bR31.4b9x21.6x1.4x
Sat, 27 Sep 2025R606.0bR478.0bR31.4b9.1x19.3x1.3x
Mon, 25 Aug 2025R667.4bR478.0bR29.7b17x22.5x1.4x
Wed, 23 Jul 2025R636.6bR459.8bR12.5b13.5x50.7x1.4x
Fri, 20 Jun 2025R569.6bR459.8bR12.5b11.4x45.4x1.2x
Sun, 18 May 2025R509.1bR407.2bR8.4b10.2x60.8x1.3x
Tue, 15 Apr 2025R472.4bR407.2bR8.4b9.4x56.4x1.2x
Thu, 13 Mar 2025R456.4bR417.8bR10.5b9.3x43.3x1.1x
Sat, 08 Feb 2025R470.1bR418.2bR10.5b8.7x44.9x1.1x
Mon, 06 Jan 2025R397.3bR418.2bR10.5b8.4x38x1x
Wed, 04 Dec 2024R370.4bR418.2bR10.5b8.1x35.4x0.9x
Fri, 01 Nov 2024R396.9bR416.7bR11.9b8.5x33.3x1x
Sun, 29 Sep 2024R415.9bR416.7bR11.9b8.2x34.9x1x
Tue, 27 Aug 2024R420.3bR419.1bR12.0b7.8x35x1x
Thu, 25 Jul 2024R343.8bR441.3bR23.5b7.9x14.6x0.8x
Sat, 22 Jun 2024R360.1bR441.3bR23.5b8.3x15.3x0.8x
Mon, 20 May 2024R361.9bR442.6bR12.4b11.3x29.1x0.8x
Wed, 17 Apr 2024R357.1bR430.2bR13.5b9.8x26.4x0.8x
Fri, 15 Mar 2024R352.9bR431.7bR30.0b7.4x11.8x0.8x
Sun, 11 Feb 2024R368.3bR434.1bR29.6b10x12.4x0.8x
Tue, 09 Jan 2024R430.2bR434.1bR29.6b10x14.5x1x
Thu, 07 Dec 2023R407.2bR434.0bR29.6b9.7x13.8x0.9x
Sat, 04 Nov 2023R429.6bR473.6bR25.2b8.5x17x0.9x
Mon, 02 Oct 2023R460.4bR473.6bR25.2b7.9x18.2x1x
Wed, 30 Aug 2023R494.2bR473.0bR25.3b6.1x19.5x1x
Fri, 28 Jul 2023R534.3bR457.6bR24.1b6.9x22.2x1.2x
Sun, 25 Jun 2023R532.6bR457.6bR24.1b6.3x22.1x1.2x
Tue, 23 May 2023R483.7bR454.7bR39.3b6.5x12.3x1.1x
Thu, 20 Apr 2023R545.4bR442.1bR38.8b7.6x14x1.2x
Sat, 18 Mar 2023R547.4bR441.3bR38.7b7.7x14.1x1.2x
Mon, 13 Feb 2023R577.4bR426.3bR39.1b7.2x14.8x1.4x
Wed, 11 Jan 2023R549.2bR426.3bR39.1b6.6x14.1x1.3x
Fri, 09 Dec 2022R534.6bR426.3bR39.1b7.2x13.7x1.3x
Price to Earnings Ratio

13.7x


Total Market Cap: R534.6bTotal Earnings: R39.1bTotal Revenue: R426.3bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Telecom Sector Price to Earnings3Y Average 26.6x202320242025
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 19.3x which is lower than its 3-year average PE of 26.6x.
  • 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 4.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.5% 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 Market1.29%
Telecom-4.05%
Media0.65%
Telecom Services and Carriers-0.11%
Wireless Telecom-4.77%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 20.5x.
    • Analysts are expecting annual earnings growth of 37.5%, which is higher than its past year's earnings decline of 3.8% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading close to 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 3.8% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
EMH eMedia HoldingsR2.394.8%
+R553.5m		-30.3%PE6.7x
CAT Caxton and CTP Publishers and PrintersR13.956.6%
+R304.0m		10.6%PE8.2x
AME African Media EntertainmentR45.007.8%
+R22.7m		12.5%PE5.6x
HUG Huge GroupR1.204.3%
+R8.6m		-40.0%PS8.5x

Latest News

HUG
R1.20
Huge Group
7D
4.3%
1Y
-40.0%
VOD
R134.23
Vodacom Group
7D
-3.9%
1Y
31.3%

Vodacom Group (JSE:VOD) Has A Pretty Healthy Balance Sheet

Dec 01
Vodacom Group (JSE:VOD) Has A Pretty Healthy Balance Sheet
AME
R45.00
African Media Entertainment
7D
7.8%
1Y
12.5%
EMH
R2.39
eMedia Holdings
7D
4.8%
1Y
-30.3%
BLU
R9.90
Blu Label Unlimited Group
7D
-0.5%
1Y
81.7%
CAT
R13.95
Caxton and CTP Publishers and Printers
7D
6.6%
1Y
10.6%
MTN
R155.72
MTN Group
7D
-5.5%
1Y
91.1%

MTN Group Limited's (JSE:MTN) Price Is Right But Growth Is Lacking

Nov 24
MTN Group Limited's (JSE:MTN) Price Is Right But Growth Is Lacking