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Employees: 2,051
Size Telecom Plus (TEP.L) is a United Kingdom Utilities company (Electric Utilities) with a market value of $922M, the 222nd largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £900.00 on 6 Nov 2026.
Performance Over six months the shares fell 15.1%, against -19.0% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 5.6% over the last twelve months (peer median +2.4%); the operating margin is 6.4% (peer median 6.9%).
Valuation It trades at 10.9× forward earnings against a peer median of 18.3× (4th cheapest of 9).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.0 points above its cost of capital (8.7% WACC).
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.94B | £1.94B | £1.84B | £2.04B | £2.48B |
| Revenue growth | — | +6% | -10% | -18% | — |
| Gross profit | £378M | £378M | £347M | £344M | £295M |
| EBITDA | £153M | £153M | £143M | £126M | £106M |
| Net income | £80.7M | £80.7M | £76.1M | £71.0M | £68.4M |
| Free cash flow | £107M | £107M | £97.0M | -£137M | £229M |
| Capital expenditure | £63.6M | £63.6M | £17.2M | £12.5M | £11.0M |
| Total debt | n/a | £235M | £195M | £180M | £90.4M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TEP.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.3% | -6.3% | 3rd highest of 21 |
| 6-month return | -15.1% | -19.0% | 10th highest of 21 |
| Distance from 52-week high | -49.6% | -40.6% | 6th lowest of 21 |
| Revenue growth (TTM) | +5.6% | +2.4% | 9th highest of 21 |
| Operating margin | 6.4% | 6.9% | 10th lowest of 21 |
| Forward P/E | 10.9× | 18.3× | 4th cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | -8.6% | 12.2% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +17.6% | +9.2% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -26.3 pp | +1.7 pp | 2nd least demanding of 15 |
| ROIC minus cost of capital | +14.0 pp | -1.2 pp | highest of 21 |
| EV / EBITDA | 5.4× | 9.0× | 3rd cheapest of 11 |
| Net debt / EBITDA | 0.9× | 2.2× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Telecom Plus TEP.L | United Kingdom | $922M | -15% | +6% | 6% | 10.9× | -8.6% | +17.6% |
| Guangxi Energy 600310.SS | China | $939M | -14% | +11% | 16% | 20.3× | 4.8% | -27.7% |
| China Datang Corp. Renewable Power 1798.HK | Hong Kong | $904M | -42% | -6% | 21% | 8.8× | n/a | n/a |
| Guangdong Shaoneng 000601.SZ | China | $887M | -15% | +6% | 7% | n/a | -0.4% | -0.7% |
| 2G Energy 2GB.DE | Germany | $885M | -25% | -12% | 6% | 25.1× | 18.5% | +10.1% |
| Jaiprakash Power Ventures JPPOWER.NS | India | $1.01B | -29% | +6% | 21% | n/a | 9.9% | +11.0% |
| Fujian Mindong Electric Power 000993.SZ | China | $846M | +1% | -18% | 5% | n/a | 14.7% | +10.1% |
| Top Energy Co. Ltd. Shanxi 600780.SS | China | $1.02B | -13% | 0% | 5% | n/a | -15.1% | +10.2% |
| Polenergia PEP.WA | Poland | $1.02B | +3% | -19% | 6% | 30.6× | 15.8% | +18.5% |
| Guangzhou Hengyun Enterprises 000531.SZ | China | $817M | -26% | 0% | -2% | n/a | n/a | n/a |
| Unitil UTL | United States | $1.05B | +11% | +21% | 19% | 16.2× | n/a | n/a |
| Reliance Power RPOWER.NS | India | $806M | -37% | +3% | 20% | n/a | -4.9% | -0.5% |
| Swan SWANCORP.NS | India | $799M | -32% | -17% | -9% | n/a | n/a | n/a |
| Zheneng Jinjiang Environment BWM.SI | Singapore | $786M | +13% | +5% | 33% | n/a | -3.0% | +2.2% |
| Leshan Electric Power 600644.SS | China | $779M | -27% | 0% | -1% | n/a | 15.8% | +8.3% |
| Arendals Fossekompani AFK.OL | Norway | $1.11B | -2% | -7% | 11% | n/a | 14.4% | +3.6% |
| Guangdong Meiyan Jixiang Hydropower 600868.SS | China | $752M | -23% | +60% | -32% | n/a | 18.3% | +15.3% |
| Ningbo Energy Group Co., Ltd 600982.SS | China | $748M | -24% | +9% | 9% | n/a | 5.0% | -6.9% |
| SG Mart SGMART.NS | India | $1.15B | +55% | +9% | 3% | 50.0× | 30.1% | +298.2% |
| Empresa Distribuidora Y Comercializadora Norte S.A. Sponsored ADR EDN | United States | $738M | -40% | +2% | 6% | 6.9× | n/a | n/a |
| Kasumigaseki Capital 3498.T | Japan | $1.16B | +15% | +70% | 17% | 7.6× | n/a | n/a |