Telkom SA SOC Ltd's (JSE:TKG) Share Price Not Quite Adding Up
Oct 28
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South African (JSE) Telecom Services and Carriers Industry Analysis
UpdatedNov 15, 2025
DataAggregated Company Financials
Companies4
- 7D1.7%
- 3M-17.5%
- 1Y80.8%
- YTD58.8%
In the last week, the Telecom Services and Carriers industry is up 1.7%, with Telkom SA SOC up 8.1%. During this same period, the Blu Label Unlimited Group underperformed, falling 11%. In the last 12 months, the industry was up 81%. As for the next few years, earnings are expected to grow by 7.2% per annum.
Industry Valuation and Performance
Has the South African Telecom Services and Carriers Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 15 Nov 2025 | R35.4b | R58.0b | R5.2b | 9.1x | 6.8x | 0.6x |
| Mon, 13 Oct 2025 | R38.3b | R58.0b | R5.2b | 9.8x | 7.4x | 0.7x |
| Wed, 10 Sep 2025 | R36.6b | R58.0b | R5.2b | 8.8x | 7x | 0.6x |
| Fri, 08 Aug 2025 | R41.7b | R58.2b | R3.4b | 23.2x | 12.4x | 0.7x |
| Sun, 06 Jul 2025 | R39.7b | R58.2b | R3.4b | 19.6x | 11.9x | 0.7x |
| Tue, 03 Jun 2025 | R31.0b | R57.3b | R2.2b | 14.9x | 14.1x | 0.5x |
| Thu, 01 May 2025 | R27.3b | R57.3b | R2.2b | 12.3x | 12.5x | 0.5x |
| Sat, 29 Mar 2025 | R26.0b | R57.3b | R2.2b | 11.6x | 11.8x | 0.5x |
| Mon, 24 Feb 2025 | R24.8b | R57.3b | R2.2b | 11x | 11.3x | 0.4x |
| Wed, 22 Jan 2025 | R21.9b | R57.6b | R2.2b | 9.8x | 10x | 0.4x |
| Fri, 20 Dec 2024 | R22.5b | R57.6b | R2.2b | 10.1x | 10.2x | 0.4x |
| Sun, 17 Nov 2024 | R19.4b | R57.0b | R2.1b | 9.2x | 9.1x | 0.3x |
| Tue, 15 Oct 2024 | R18.8b | R57.0b | R2.1b | 9.5x | 8.8x | 0.3x |
| Thu, 12 Sep 2024 | R18.2b | R57.0b | R2.1b | 10x | 8.5x | 0.3x |
| Sat, 10 Aug 2024 | R16.1b | R59.2b | R2.2b | 9.1x | 7.2x | 0.3x |
| Mon, 08 Jul 2024 | R15.4b | R59.2b | R2.2b | 9.2x | 6.9x | 0.3x |
| Wed, 05 Jun 2024 | R15.7b | R60.5b | -R8,873,660,051.00 | 16.9x | -1.8x | 0.3x |
| Fri, 03 May 2024 | R16.5b | R60.4b | -R8,873,611,326.00 | 16x | -1.9x | 0.3x |
| Sun, 31 Mar 2024 | R19.5b | R60.4b | -R8,873,611,326.00 | 16.4x | -2.2x | 0.3x |
| Tue, 27 Feb 2024 | R18.0b | R60.4b | -R8,874,561,582.00 | 15.9x | -2x | 0.3x |
| Thu, 25 Jan 2024 | R18.7b | R62.6b | -R9,357,802,582.00 | 17x | -2x | 0.3x |
| Sat, 23 Dec 2023 | R18.3b | R62.6b | -R9,357,802,582.00 | 17.2x | -2x | 0.3x |
| Mon, 20 Nov 2023 | R15.4b | R62.1b | -R9,612,978,582.00 | 17.7x | -1.6x | 0.2x |
| Wed, 18 Oct 2023 | R14.6b | R62.1b | -R9,614,331,844.00 | 15.7x | -1.5x | 0.2x |
| Fri, 15 Sep 2023 | R14.7b | R62.1b | -R9,616,486,975.00 | 9.3x | -1.5x | 0.2x |
| Sun, 13 Aug 2023 | R17.8b | R61.7b | -R9,504,797,687.00 | 6.2x | -1.9x | 0.3x |
| Tue, 11 Jul 2023 | R17.3b | R62.1b | -R9,504,797,687.00 | 6.2x | -1.8x | 0.3x |
| Thu, 08 Jun 2023 | R17.7b | R61.3b | R2.4b | 7.2x | 7.4x | 0.3x |
| Sat, 06 May 2023 | R20.3b | R61.2b | R2.4b | 8.3x | 8.4x | 0.3x |
| Mon, 03 Apr 2023 | R21.9b | R61.2b | R2.4b | 8.8x | 9.1x | 0.4x |
| Wed, 01 Mar 2023 | R23.5b | R61.2b | R2.4b | 9.5x | 9.8x | 0.4x |
| Fri, 27 Jan 2023 | R21.2b | R60.5b | R3.0b | 4.5x | 7.1x | 0.4x |
| Sun, 25 Dec 2022 | R20.0b | R60.5b | R3.0b | 4.3x | 6.7x | 0.3x |
| Tue, 22 Nov 2022 | R22.7b | R60.6b | R4.1b | 4.5x | 5.5x | 0.4x |
Price to Earnings Ratio
5.5x
Current Industry PE
- Investors are optimistic on the South African Telecom industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 6.7x which is higher than its 3-year average PE of 5.4x.
- The industry is trading close to its 3-year average PS ratio of 0.38x.
Past Earnings Growth
- The earnings for companies in the Telecom industry have grown 8.1% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the South African Telecom industry?
| ZA Market | 2.26% | |
| Telecom | 2.02% | |
| Telecom Services and Carriers | 1.68% | |
| Integrated Telecom Services | 1.77% | |
| Alternative Carriers | -8.70% | |
Industry PE
- Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 5.4x.
- Analysts are expecting annual earnings growth of 7.2%, which is lower than the prior year's growth of 187.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 7.2% over the next 5 years.
- In contrast, the Integrated Telecom Services 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TKG Telkom SA SOC | R50.55 | 8.1% +R1.9b | 75.3% | PE9.1x |