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South African (JSE) Telecom Sector Analysis

UpdatedJul 11, 2025
DataAggregated Company Financials
Companies10
  • 7D1.5%
  • 3M25.7%
  • 1Y56.0%
  • YTD42.8%

Over the last 7 days, the Telecom industry has risen 1.5%, driven by gains from MTN Group of 1.7%. This means that the industry has gained 56% over the past year. As for the next few years, earnings are expected to grow by 39% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 12 Jul 2025R627.0bR459.8bR12.5b13.2x50x1.4x
Mon, 09 Jun 2025R536.3bR408.1bR10.2b13x52.8x1.3x
Wed, 07 May 2025R514.6bR407.2bR8.4b10.2x61.4x1.3x
Fri, 04 Apr 2025R472.3bR407.2bR8.4b9.3x56.4x1.2x
Sun, 02 Mar 2025R471.1bR417.9bR10.5b9.4x45.1x1.1x
Tue, 28 Jan 2025R437.9bR418.2bR10.5b8.7x41.8x1x
Thu, 26 Dec 2024R378.3bR418.2bR10.5b8.4x36.1x0.9x
Sat, 23 Nov 2024R370.6bR418.1bR10.5b7.8x35.5x0.9x
Mon, 21 Oct 2024R402.3bR416.7bR11.9b8.5x33.7x1x
Wed, 18 Sep 2024R409.9bR416.7bR11.9b8.3x34.4x1x
Fri, 16 Aug 2024R369.6bR441.3bR23.5b8.2x15.7x0.8x
Sun, 14 Jul 2024R359.5bR441.3bR23.5b8.2x15.3x0.8x
Tue, 11 Jun 2024R343.1bR442.7bR12.4b10.7x27.6x0.8x
Thu, 09 May 2024R369.3bR430.2bR13.5b10.2x27.3x0.9x
Sat, 06 Apr 2024R387.3bR430.2bR13.5b10.8x28.6x0.9x
Mon, 04 Mar 2024R357.1bR431.9bR30.1b7.4x11.9x0.8x
Wed, 31 Jan 2024R380.2bR434.1bR29.6b10.5x12.8x0.9x
Fri, 29 Dec 2023R435.6bR434.1bR29.6b10x14.7x1x
Sun, 26 Nov 2023R414.2bR434.1bR29.7b9x14x1x
Tue, 24 Oct 2023R437.1bR473.6bR25.2b9.2x17.3x0.9x
Thu, 21 Sep 2023R478.1bR473.6bR25.2b8x18.9x1x
Sat, 19 Aug 2023R502.3bR473.0bR25.3b5.8x19.8x1.1x
Mon, 17 Jul 2023R524.2bR457.6bR24.1b6.4x21.7x1.1x
Wed, 14 Jun 2023R555.6bR454.7bR39.2b7.1x14.2x1.2x
Fri, 12 May 2023R484.1bR442.1bR38.8b7.2x12.5x1.1x
Sun, 09 Apr 2023R554.8bR442.1bR38.8b7.9x14.3x1.3x
Tue, 07 Mar 2023R607.3bR427.0bR38.5b8.2x15.8x1.4x
Thu, 02 Feb 2023R574.2bR426.3bR39.1b7.2x14.7x1.3x
Sat, 31 Dec 2022R542.4bR426.3bR39.1b6.9x13.9x1.3x
Mon, 28 Nov 2022R534.5bR424.5bR41.1b8.6x13x1.3x
Wed, 26 Oct 2022R505.8bR420.3bR42.4b8.9x11.9x1.2x
Fri, 23 Sep 2022R528.0bR420.3bR42.4b9.1x12.4x1.3x
Sun, 21 Aug 2022R561.7bR420.8bR42.3b8.9x13.3x1.3x
Tue, 19 Jul 2022R575.8bR409.9bR37.0b8.5x15.6x1.4x
Price to Earnings Ratio

15.6x


Total Market Cap: R575.8bTotal Earnings: R37.0bTotal Revenue: R409.9bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Telecom Sector Price to Earnings3Y Average 24.5x202320242025
Current Industry PE
  • Investors are optimistic on the South African Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 50.0x which is higher than its 3-year average PE of 24.5x.
  • 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 30% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.9% 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 Market0.27%
Telecom1.45%
Telecom Services and Carriers4.09%
Wireless Telecom1.48%
Media-0.61%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 27.0x.
    • Analysts are expecting annual earnings growth of 39.1%, which is higher than its past year's earnings growth of 1.9% 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 5.1x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings growth rate of 1.9% per year.
  • In contrast, the Media industry is expected to see its earnings grow by 38% 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 GroupR142.301.7%
+R4.2b		73.6%PS1.4x
TKG Telkom SA SOCR56.004.0%
+R1.1b		131.7%PE10.1x
BLU Blue Label TelecomsR14.202.4%
+R297.5m		231.8%PE20.1x
CAT Caxton and CTP Publishers and PrintersR11.600.9%
+R35.8m		15.8%PE5.7x
HUG Huge GroupR1.905.6%
+R17.3m		-12.4%PS6.9x

Latest News

MTN
R142.30
MTN Group
7D
1.7%
1Y
73.6%
AME
R49.50
African Media Entertainment
7D
2.1%
1Y
30.2%
TKG
R56.00
Telkom SA SOC
7D
4.0%
1Y
131.7%
EMH
R2.68
eMedia Holdings
7D
-6.0%
1Y
-18.3%

We Like These Underlying Return On Capital Trends At eMedia Holdings (JSE:EMH)

Jul 01
We Like These Underlying Return On Capital Trends At eMedia Holdings (JSE:EMH)
HUG
R1.90
Huge Group
7D
5.6%
1Y
-12.4%
VOD
R138.63
Vodacom Group
7D
-0.1%
1Y
41.3%
MCG
R117.00
MultiChoice Group
7D
-0.3%
1Y
7.8%
BLU
R14.20
Blue Label Telecoms
7D
2.4%
1Y
231.8%

Blue Label Telecoms Limited (JSE:BLU) Stock Rockets 31% As Investors Are Less Pessimistic Than Expected

May 17
Blue Label Telecoms Limited (JSE:BLU) Stock Rockets 31% As Investors Are Less Pessimistic Than Expected
TLM
R0.95
TeleMasters Holdings
7D
-7.8%
1Y
20.3%
CAT
R11.60
Caxton and CTP Publishers and Printers
7D
0.9%
1Y
15.8%