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U.S. Communications Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies76
  • 7D-3.5%
  • 3M11.2%
  • 1Y50.1%
  • YTD9.2%

In the last week, the Communications industry is up 1.9%, with Applied Optoelectronics up 88%. During this same period, the Lumentum Holdings underperformed, falling 20%. This takes the industry's 12 month performance to a gain of 55%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

Has the U.S. Communications Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026US$762.8bUS$109.3bUS$18.4b39.9x41.5x7x
Mon, 02 Feb 2026US$702.8bUS$106.3bUS$16.7b31.7x42.1x6.6x
Wed, 31 Dec 2025US$678.5bUS$106.1bUS$16.7b35.4x40.6x6.4x
Fri, 28 Nov 2025US$651.8bUS$105.8bUS$16.6b31.2x39.3x6.2x
Sun, 26 Oct 2025US$676.5bUS$103.3bUS$16.0b30.6x42.2x6.5x
Tue, 23 Sep 2025US$654.3bUS$103.3bUS$16.0b30.4x40.9x6.3x
Thu, 21 Aug 2025US$594.6bUS$102.8bUS$16.1b25.4x37x5.8x
Sat, 19 Jul 2025US$566.9bUS$100.5bUS$14.0b28.5x40.5x5.6x
Mon, 16 Jun 2025US$524.7bUS$105.7bUS$14.3b26.5x36.6x5x
Wed, 14 May 2025US$520.0bUS$104.0bUS$13.9b23.4x37.4x5x
Fri, 11 Apr 2025US$472.1bUS$102.8bUS$12.4b24.5x38x4.6x
Sun, 09 Mar 2025US$509.6bUS$103.1bUS$12.4b26.7x41.2x4.9x
Tue, 04 Feb 2025US$558.5bUS$102.5bUS$12.2b25.2x45.9x5.5x
Thu, 02 Jan 2025US$538.5bUS$102.5bUS$12.1b24.5x44.6x5.3x
Sat, 30 Nov 2024US$531.7bUS$102.5bUS$12.1b24.4x43.9x5.2x
Mon, 28 Oct 2024US$497.3bUS$103.0bUS$12.0b27.3x41.5x4.8x
Wed, 25 Sep 2024US$475.1bUS$103.0bUS$12.0b26.5x39.6x4.6x
Fri, 23 Aug 2024US$441.5bUS$101.1bUS$11.6b26.1x38x4.4x
Sun, 21 Jul 2024US$345.5bUS$92.6bUS$12.6b26.7x27.4x3.7x
Tue, 18 Jun 2024US$335.2bUS$92.7bUS$12.6b27.1x26.6x3.6x
Thu, 16 May 2024US$345.6bUS$94.3bUS$14.0b27.3x24.6x3.7x
Sat, 13 Apr 2024US$402.4bUS$104.8bUS$16.3b33.5x24.7x3.8x
Mon, 11 Mar 2024US$395.6bUS$104.8bUS$16.3b31.1x24.2x3.8x
Wed, 07 Feb 2024US$339.7bUS$95.3bUS$14.9b26.2x22.7x3.6x
Fri, 05 Jan 2024US$326.1bUS$96.1bUS$15.1b24.3x21.6x3.4x
Sun, 03 Dec 2023US$313.3bUS$96.0bUS$14.9b24.9x21x3.3x
Tue, 31 Oct 2023US$307.6bUS$94.7bUS$14.6b23x21.1x3.2x
Thu, 28 Sep 2023US$321.4bUS$94.7bUS$14.6b24.7x22x3.4x
Sat, 26 Aug 2023US$334.6bUS$94.5bUS$14.6b29.4x22.9x3.5x
Mon, 24 Jul 2023US$322.9bUS$91.5bUS$13.5b26.8x23.9x3.5x
Wed, 21 Jun 2023US$315.2bUS$91.4bUS$13.5b24x23.3x3.4x
Fri, 19 May 2023US$293.0bUS$91.2bUS$13.5b25x21.7x3.2x
Sun, 16 Apr 2023US$312.4bUS$89.0bUS$13.2b27x23.7x3.5x
Tue, 14 Mar 2023US$297.3bUS$89.0bUS$13.2b27.3x22.6x3.3x
Price to Earnings Ratio

22.6x


Total Market Cap: US$297.3bTotal Earnings: US$13.2bTotal Revenue: US$89.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 32.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Communications industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 42.3x which is higher than its 3-year average PE of 32.5x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 7.1x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 7.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market-2.31%
Tech-0.53%
Communications-3.53%
Communications Equipment-3.53%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AAOI Applied OptoelectronicsUS$95.5813.5%
+US$853.5m		504.2%PS15.8x
FFIV F5US$286.225.5%
+US$839.9m		3.8%PE22.9x
NTCT NetScout SystemsUS$29.802.0%
+US$42.6m		39.1%PE22.4x
ITRN Ituran Location and ControlUS$49.533.2%
+US$30.4m		30.2%PE17.4x
AUDC AudioCodesUS$8.0612.9%
+US$24.7m		-23.4%PE24.1x

Latest News

MSI
US$460.76
Motorola Solutions
7D
-4.5%
1Y
8.9%
CIEN
US$294.17
Ciena
7D
-15.6%
1Y
326.8%
FFIV
US$286.22
F5
7D
5.5%
1Y
3.8%
OCC
US$6.05
Optical Cable
7D
8.6%
1Y
53.6%
GILT
US$16.14
Gilat Satellite Networks
7D
1.5%
1Y
129.3%
ITRN
US$49.53
Ituran Location and Control
7D
3.2%
1Y
30.2%
VIAV
US$27.88
Viavi Solutions
7D
-6.2%
1Y
154.8%

AI Data Center And Defense Timing Tailwinds Will Drive Long-Term Confidence Here

Catalysts About Viavi Solutions Viavi Solutions provides network test, monitoring and optical technologies serving data centers, service providers, aerospace and defense and anti counterfeiting markets. What are the underlying business or industry changes driving this perspective?
LITE
US$558.44
Lumentum Holdings
7D
-20.3%
1Y
799.1%
VSAT
US$43.79
Viasat
7D
-4.3%
1Y
350.1%

VSAT: Spinout Hopes Around Defense Unit Will Likely Disappoint

The latest Street research implies a higher consolidated analyst price target for Viasat, with firms pointing to updated sum of the parts valuation work, a revised $39 target from Morgan Stanley, and potential value from any future spinout of the defense and advanced technologies division, which analysts see as echoing recent plans at L3Harris. Analyst Commentary Recent research on Viasat has centered on how to value the different pieces of the business, with several firms talking about sum of the parts work, potential spinout scenarios, and what that could mean for the equity story.
CSCO
US$78.64
Cisco Systems
7D
-1.0%
1Y
23.0%

Cisco Systems, Inc. (CSCO): The AI Breakout – Scaling Networking for the Agentic Era

Cisco Systems (CSCO) is currently trading at $79.46 , representing a powerful 23.9% gain over the last 12 months as the company successfully moves past its post-pandemic "inventory digestion" phase. The market sentiment shifted dramatically following the February 11, 2026, earnings release, where Cisco posted record quarterly revenue of $15.3 billion and a 31% jump in GAAP EPS.
AAOI
US$95.58
Applied Optoelectronics
7D
13.5%
1Y
504.2%
ANET
US$132.89
Arista Networks
7D
-0.5%
1Y
59.4%
NTCT
US$29.80
NetScout Systems
7D
2.0%
1Y
39.1%

NTCT: Expanded AI Network Capabilities And Raised Outlook Will Support Bullish Repricing

Analysts have maintained their $35.00 price target for NetScout Systems, citing only modest adjustments in their underlying assumptions for discount rate, revenue growth, profit margin, and future P/E that they believe largely offset one another. What's in the News NetScout extended its Omnis AI Insights solution to communications service providers, aiming to turn raw network data into AI ready data for customer experience, predictive maintenance, and network security use cases, including 5G and other complex network domains (Product related announcement).
UI
US$749.40
Ubiquiti
7D
-2.3%
1Y
133.6%
AUDC
US$8.06
AudioCodes
7D
12.9%
1Y
-23.4%
FIEE
US$6.43
FiEE
7D
15.0%
1Y
818.6%