Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

South African (JSE) Telecom Sector Analysis

UpdatedOct 24, 2025
DataAggregated Company Financials
Companies10
  • 7D0.7%
  • 3M6.9%
  • 1Y48.1%
  • YTD50.9%

The Telecom industry has been flat over the last week, but Telkom SA SOC has lost 4.3%. The past year has been better, since the industry has gained 48% in that time. Earnings are forecast to grow by 32% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Oct 2025R666.7bR478.0bR31.4b9.3x21.2x1.4x
Mon, 22 Sep 2025R606.5bR478.0bR31.4b9.4x19.3x1.3x
Wed, 20 Aug 2025R658.2bR478.0bR29.7b16.4x22.2x1.4x
Fri, 18 Jul 2025R632.7bR459.8bR12.5b13.3x50.4x1.4x
Sun, 15 Jun 2025R589.7bR459.8bR12.5b11.7x47x1.3x
Tue, 13 May 2025R502.8bR407.2bR8.4b10.1x60x1.2x
Thu, 10 Apr 2025R446.6bR407.2bR8.4b8.9x53.3x1.1x
Sat, 08 Mar 2025R466.4bR417.8bR10.5b9.2x44.3x1.1x
Mon, 03 Feb 2025R449.2bR418.2bR10.5b8.7x42.9x1.1x
Wed, 01 Jan 2025R391.5bR418.2bR10.5b8.5x37.4x0.9x
Fri, 29 Nov 2024R374.8bR418.2bR10.5b7.9x35.8x0.9x
Sun, 27 Oct 2024R399.7bR416.7bR11.9b8.5x33.5x1x
Tue, 24 Sep 2024R410.7bR416.7bR11.9b8.3x34.4x1x
Thu, 22 Aug 2024R395.4bR419.2bR12.0b7.5x33x0.9x
Sat, 20 Jul 2024R336.7bR441.3bR23.5b7.7x14.3x0.8x
Mon, 17 Jun 2024R351.4bR442.5bR12.4b8.6x28.3x0.8x
Wed, 15 May 2024R347.5bR442.6bR12.4b10.6x28x0.8x
Fri, 12 Apr 2024R375.4bR430.2bR13.5b9.5x27.7x0.9x
Sun, 10 Mar 2024R352.8bR431.7bR30.0b7.3x11.8x0.8x
Tue, 06 Feb 2024R373.4bR434.1bR29.6b9.8x12.6x0.9x
Thu, 04 Jan 2024R434.6bR434.1bR29.6b10x14.7x1x
Sat, 02 Dec 2023R397.8bR434.0bR29.6b10.5x13.5x0.9x
Mon, 30 Oct 2023R432.0bR473.6bR25.2b8.9x17.1x0.9x
Wed, 27 Sep 2023R463.4bR473.6bR25.2b7.9x18.4x1x
Fri, 25 Aug 2023R497.3bR473.0bR25.3b5.8x19.6x1.1x
Sun, 23 Jul 2023R520.1bR457.6bR24.1b6.9x21.6x1.1x
Tue, 20 Jun 2023R555.3bR458.0bR24.1b6.3x23x1.2x
Thu, 18 May 2023R486.7bR442.1bR38.8b6.6x12.5x1.1x
Sat, 15 Apr 2023R554.7bR442.1bR38.8b7.6x14.3x1.3x
Mon, 13 Mar 2023R589.1bR427.0bR38.5b8x15.3x1.4x
Wed, 08 Feb 2023R580.0bR426.3bR39.1b7.2x14.8x1.4x
Fri, 06 Jan 2023R547.8bR426.3bR39.1b7.1x14x1.3x
Sun, 04 Dec 2022R525.9bR426.3bR39.1b7.3x13.5x1.2x
Tue, 01 Nov 2022R526.2bR420.3bR42.4b9.1x12.4x1.3x
Price to Earnings Ratio

12.4x


Total Market Cap: R526.2bTotal Earnings: R42.4bTotal Revenue: R420.3bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Telecom Sector Price to Earnings3Y Average 26.3x202320242025
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 21.2x which is lower than its 3-year average PE of 26.3x.
  • 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 9.6% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.4% 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 Market0.26%
Telecom0.69%
Wireless Telecom0.91%
Media0.12%
Telecom Services and Carriers-1.73%
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
VOD Vodacom GroupR136.701.4%
+R3.5b		23.8%PE15.9x
MTN MTN GroupR166.700.5%
+R1.6b		87.3%PE40.5x
BLU Blu Label Unlimited GroupR12.084.2%
+R440.6m		115.7%PE4.4x
MCG MultiChoice GroupR123.750.5%
+R270.3m		11.5%PE44.5x
HUG Huge GroupR1.4546.5%
+R79.4m		-27.5%PS5.3x

Latest News

MCG
R123.75
MultiChoice Group
7D
0.5%
1Y
11.5%
VOD
R136.70
Vodacom Group
7D
1.4%
1Y
23.8%
AME
R44.49
African Media Entertainment
7D
5.9%
1Y
7.2%
BLU
R12.08
Blu Label Unlimited Group
7D
4.2%
1Y
115.7%
TKG
R51.51
Telkom SA SOC
7D
-4.3%
1Y
90.8%

We Ran A Stock Scan For Earnings Growth And Telkom SA SOC (JSE:TKG) Passed With Ease

Sep 26
We Ran A Stock Scan For Earnings Growth And Telkom SA SOC (JSE:TKG) Passed With Ease
MTN
R166.70
MTN Group
7D
0.5%
1Y
87.3%

African Connectivity And Fintech Will Unlock Future Opportunities

Consensus revenue growth forecasts for MTN Group have risen significantly, but this has been offset by a lower net profit margin, resulting in only a marginal increase in the analyst price target from ZAR167.11 to ZAR169.33. What's in the News MTN CEO Ralph Mupita has publicly denied any ongoing talks or adviser engagement regarding an acquisition of Telkom SA, though industry speculation continues due to market dynamics.
CAT
R13.10
Caxton and CTP Publishers and Printers
7D
-4.4%
1Y
4.0%

Caxton and CTP Publishers and Printers Limited's (JSE:CAT) 26% Share Price Surge Not Quite Adding Up

Sep 24
Caxton and CTP Publishers and Printers Limited's (JSE:CAT) 26% Share Price Surge Not Quite Adding Up
HUG
R1.45
Huge Group
7D
46.5%
1Y
-27.5%
EMH
R2.29
eMedia Holdings
7D
-0.4%
1Y
-38.9%