Why Telstra Group (ASX:TLS), TPG Telecom (ASX:TPG) and Aussie Broadband (ASX:ABB) Are on Investors’ Watchlists

Sonal Goyal

14 September 2026 10:59 PM AEST

Why Telstra Group (ASX:TLS), TPG Telecom (ASX:TPG) and Aussie Broadband (ASX:ABB) Are on Investors’ Watchlists

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Telstra Group (ASX:TLS), TPG Telecom (ASX:TPG) and Aussie Broadband (ASX:ABB) operate across different parts of Australia’s telecommunications market. Telstra combines mobile, fixed connectivity and infrastructure operations, TPG operates mobile and broadband services across several consumer brands, while Aussie Broadband provides residential, business, enterprise, government and wholesale telecommunications services.

Their 2026 results provide updates on mobile customer growth, broadband connections, earnings, network Investment and FY27 operating targets.

Telstra Group (ASX:TLS)

Telstra Group (ASX:TLS) operates mobile and fixed telecommunications networks alongside enterprise, international and infrastructure businesses.

For FY26 ended 30 June 2026, Telstra reported total income of A$23.4 billion and statutory net profit of A$2.41 billion. Profit attributable to Equity holders was approximately A$2.24 billion, while underlying EBITDAaL reached about A$8.3 billion.

Mobile remained Telstra’s largest operating contributor. Mobile underlying EBITDA was approximately A$5.4 billion during FY26, while more than 270,000 net new mobile services were added. InfraCo Fixed contributed approximately A$1.9 billion of EBITDA, while Amplitel contributed around A$391 million.

Telstra declared total FY26 dividends of 21 cents per share, comprising interim and final distributions of 10.5 cents each. The company also completed an A$1.25 billion on-market share buyback during the financial year.

FY26 represented the first full year under Telstra’s Connected Future 30 strategy, which includes mobile connectivity, network investment and operating efficiency initiatives.

For FY27, Telstra has guided to underlying EBITDAaL of approximately A$8.5 billion to A$8.8 billion. Business-as-usual Capital Expenditure is expected to be A$3.4 billion to A$3.7 billion, while underlying cash Earnings before interest and tax are expected to range between A$4.8 billion and A$5.0 billion.

TPG Telecom (ASX:TPG)

TPG Telecom (ASX:TPG) operates telecommunications services across brands including Vodafone, TPG, iiNet and felix. Its current operating structure includes mobile and fixed broadband services.

For the six months ended 30 June 2026, TPG reported Revenue from continuing operations of approximately A$2.43 billion. EBITDA was around A$821 million, while net profit from continuing operations was approximately A$35 million.

Mobile subscribers increased to approximately 5.81 million during the half, compared with 5.74 million at the end of the previous reporting period. Fixed broadband subscribers were approximately 1.94 million. TPG also declared an interim Dividend of 10 cents per share, 25% franked.

TPG’s operating priorities include increasing its mobile customer base, extending network coverage and managing its broadband operations.

For calendar 2026, the company provided EBITDA guidance of approximately A$1.665 billion to A$1.735 billion and capital expenditure guidance of about A$750 million.

Mobile subscriber trends, customer revenue, fixed broadband connections and network expenditure remain relevant measures across TPG’s reporting periods.

Aussie Broadband (ASX:ABB)

Aussie Broadband (ASX:ABB) provides residential broadband alongside business, enterprise, government, wholesale and mobile telecommunications services.

For FY26 ended 30 June 2026, Aussie Broadband reported revenue of approximately A$1.3 billion. EBITDA reached about A$165.3 million, while net profit after tax was approximately A$35.3 million. The company declared total dividends of 6 cents per share.

Aussie Broadband reported approximately 1.1 million on-net connections and around 263,000 mobile connections. Its NBN Market Share reached approximately 12.1%. Revenue increased across residential, business, enterprise, government and wholesale operations.

During 2026, Aussie Broadband also completed telecommunications acquisitions and continued integrating additional customer bases into its operating platform. Portfolio activity included changes across its telecommunications brands and services.

For FY27, Aussie Broadband has guided to underlying EBITDA of approximately A$205 million to A$215 million.

Connection growth, operating margins, mobile services and Business and government customers remain relevant to the company’s FY27 performance.

Telecommunications Activity

Telstra Group (ASX:TLS), TPG Telecom (ASX:TPG) and Aussie Broadband (ASX:ABB) operate at different scales across the telecommunications industry.

Telstra combines nationwide mobile and fixed networks with infrastructure operations. TPG is primarily exposed to mobile and broadband services, while Aussie Broadband has expanded from residential broadband into business, enterprise, government, mobile and wholesale services.

Mobile customer numbers, broadband connections, network expenditure and operating margins remain common performance measures across the three businesses.

Key Risks

Telstra remains exposed to mobile competition, regulatory requirements and the capital expenditure required to maintain and expand its network. Delivery against FY27 earnings and expenditure guidance also depends on operating performance across its major businesses.

TPG Telecom faces competition across mobile and broadband, alongside risks associated with customer retention, network investment and fixed broadband subscriber trends.

Aussie Broadband remains exposed to telecommunications competition, integration of acquired businesses and margin movements as its customer and service mix changes. Continued expansion also requires investment in technology and network capacity.

Regulatory changes and wholesale NBN pricing can affect telecommunications operators across the sector.

What Investors May Watch Next

For Telstra Group (ASX:TLS), upcoming disclosures will provide further information on mobile service growth, implementation of the Connected Future 30 strategy and progress against FY27 EBITDAaL guidance.

For TPG Telecom (ASX:TPG), future reporting will provide updates on mobile subscriber numbers, broadband connections, operating earnings and capital expenditure.

For Aussie Broadband (ASX:ABB), FY27 updates will provide information on connection growth, integration activity and progress toward underlying EBITDA guidance of A$205 million to A$215 million.

FAQs

Q: What are Telstra Group’s (ASX:TLS) main operations?

A: Telstra operates mobile and fixed telecommunications services alongside enterprise, international and infrastructure businesses.

Q: How many mobile subscribers did TPG Telecom (ASX:TPG) report in the first half of 2026?

A: TPG reported approximately 5.81 million mobile subscribers at the end of the period.

Q: What is Aussie Broadband’s (ASX:ABB) FY27 EBITDA guidance?

A: Aussie Broadband has guided to underlying FY27 EBITDA of approximately A$205 million to A$215 million.

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