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U.S. Communications Industry Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies76
  • 7D2.3%
  • 3M17.0%
  • 1Y53.6%
  • YTD14.5%

The Communications industry is up 2.3% in the last week, with Cisco Systems up 3.5%. Meanwhile, Lumentum Holdings actually underperformed within the industry, shrinking 5.9% in the last week. This means that the industry has gained 54% over the past year. 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
Thu, 05 Mar 2026US$757.0bUS$109.0bUS$18.3b44.8x41.4x6.9x
Sat, 31 Jan 2026US$712.9bUS$106.3bUS$16.7b31.7x42.7x6.7x
Mon, 29 Dec 2025US$680.7bUS$106.1bUS$16.7b34.1x40.7x6.4x
Wed, 26 Nov 2025US$642.4bUS$105.8bUS$16.6b30.7x38.7x6.1x
Fri, 24 Oct 2025US$661.0bUS$103.3bUS$16.0b30.7x41.3x6.4x
Sun, 21 Sep 2025US$654.3bUS$103.3bUS$16.0b30.5x40.9x6.3x
Tue, 19 Aug 2025US$599.2bUS$102.8bUS$16.1b25.4x37.3x5.8x
Thu, 17 Jul 2025US$552.0bUS$100.5bUS$14.0b28.2x39.5x5.5x
Sat, 14 Jun 2025US$536.0bUS$105.7bUS$14.3b26.5x37.4x5.1x
Mon, 12 May 2025US$500.1bUS$104.0bUS$13.9b22.1x36x4.8x
Wed, 09 Apr 2025US$439.1bUS$102.8bUS$12.4b23x35.3x4.3x
Fri, 07 Mar 2025US$519.0bUS$103.1bUS$12.4b26.7x42x5x
Sun, 02 Feb 2025US$558.5bUS$102.5bUS$12.2b25.2x45.9x5.5x
Tue, 31 Dec 2024US$545.4bUS$102.5bUS$12.1b24.9x45.2x5.3x
Thu, 28 Nov 2024US$534.1bUS$102.5bUS$12.1b24.5x44.1x5.2x
Sat, 26 Oct 2024US$499.1bUS$103.0bUS$12.0b27.3x41.7x4.8x
Mon, 23 Sep 2024US$472.5bUS$103.0bUS$12.0b25.3x39.4x4.6x
Wed, 21 Aug 2024US$437.2bUS$101.2bUS$11.6b26.2x37.7x4.3x
Fri, 19 Jul 2024US$353.4bUS$92.6bUS$12.6b27x28x3.8x
Sun, 16 Jun 2024US$335.2bUS$92.7bUS$12.6b27.1x26.6x3.6x
Tue, 14 May 2024US$342.7bUS$94.4bUS$14.1b27.3x24.3x3.6x
Thu, 11 Apr 2024US$405.6bUS$104.8bUS$16.3b33.9x24.9x3.9x
Sat, 09 Mar 2024US$395.6bUS$104.8bUS$16.3b32.6x24.2x3.8x
Mon, 05 Feb 2024US$343.3bUS$95.8bUS$14.9b26.9x23x3.6x
Wed, 03 Jan 2024US$329.4bUS$96.1bUS$15.1b25x21.8x3.4x
Fri, 01 Dec 2023US$313.3bUS$96.2bUS$14.9b24.8x21.1x3.3x
Sun, 29 Oct 2023US$307.7bUS$94.7bUS$14.5b24.4x21.2x3.2x
Tue, 26 Sep 2023US$323.3bUS$94.7bUS$14.6b28.3x22.1x3.4x
Thu, 24 Aug 2023US$339.5bUS$94.5bUS$14.6b27x23.2x3.6x
Sat, 22 Jul 2023US$322.9bUS$91.5bUS$13.5b26.8x23.9x3.5x
Mon, 19 Jun 2023US$319.0bUS$91.4bUS$13.5b20.8x23.6x3.5x
Wed, 17 May 2023US$285.1bUS$89.8bUS$13.4b25.5x21.2x3.2x
Fri, 14 Apr 2023US$314.5bUS$89.0bUS$13.2b27.1x23.9x3.5x
Sun, 12 Mar 2023US$298.5bUS$89.0bUS$13.2b27.7x22.7x3.4x
Price to Earnings Ratio

22.7x


Total Market Cap: US$298.5bTotal 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 41.4x 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 6.9x.
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-1.22%
Tech-2.70%
Communications2.27%
Communications Equipment2.27%
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
CSCO Cisco SystemsUS$80.873.5%
+US$10.9b		27.5%PE28.8x
AAOI Applied OptoelectronicsUS$99.7171.6%
+US$3.5b		451.5%PS16.5x
UI UbiquitiUS$798.385.7%
+US$2.6b		139.8%PE54.4x
ANET Arista NetworksUS$134.831.5%
+US$2.4b		53.5%PE48.2x
MSI Motorola SolutionsUS$478.211.5%
+US$1.1b		12.2%PE36.8x

Latest News

VISN
US$17.56
Vistance Networks
7D
-1.5%
1Y
215.3%
HLIT
US$10.22
Harmonic
7D
-1.2%
1Y
-4.5%

HLIT: Record Broadband Orders Will Support Stronger Long Term Earnings Power

Analysts have raised their price target on Harmonic to $14 from $12.50, citing record Q4 broadband orders of $347 million and an improved long-term profit margin outlook. This comes even as they account for a much lower expected revenue growth rate and a higher future P/E assumption.
INSG
US$11.47
Inseego
7D
-16.0%
1Y
20.7%
VIAV
US$32.59
Viavi Solutions
7D
5.6%
1Y
188.7%

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?
CIEN
US$343.55
Ciena
7D
-2.8%
1Y
356.5%

CIEN: Extended Rally Will Confront AI Supply Constraints And Execution Hurdles

Analysts have raised their average price targets on Ciena into a range of $280 to $380, citing stronger confidence in revenue growth potential tied to AI data center demand and new optical technologies. Market-based estimates now imply a fair value of about $119 and a forward P/E of roughly 33x, with slightly lower profit margin assumptions.
CALX
US$54.28
Calix
7D
6.3%
1Y
55.5%

CALX: Expanded Buybacks And Platform Adoption Will Support Future Share Repricing

The updated analyst price target for Calix now stands at $75, with the modest adjustment tied to slightly higher discount rate assumptions and a lower future P/E multiple, as analysts weigh recent target cuts against ongoing views that weakness in the shares may present a buying opportunity. Analyst Commentary Analysts are split between trimming valuation expectations and leaning into what they view as a constructive long term setup for Calix.
LITE
US$680.80
Lumentum Holdings
7D
-5.9%
1Y
911.0%
CSCO
US$80.87
Cisco Systems
7D
3.5%
1Y
27.5%

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.
MSI
US$478.21
Motorola Solutions
7D
1.5%
1Y
12.2%
ADTN
US$10.25
ADTRAN Holdings
7D
-4.1%
1Y
-3.2%
AAOI
US$99.71
Applied Optoelectronics
7D
71.6%
1Y
451.5%
FFIV
US$286.12
F5
7D
2.7%
1Y
1.2%
CLFD
US$31.79
Clearfield
7D
-3.5%
1Y
0.9%

CLFD: Share Repurchases And 2026 Outlook Will Support Upside Potential

Analysts have nudged their price target on Clearfield to $44.25, reflecting updated assumptions around discount rates, long term revenue growth, profit margins, and a slightly higher future P/E multiple, while keeping their fair value estimate in line with prior views. What's in the News Clearfield updated its earnings outlook for the second quarter of fiscal 2026, guiding to net sales from continuing operations of US$32 million to US$35 million and a net loss per diluted share of US$0.02 to US$0.10.
ANET
US$134.83
Arista Networks
7D
1.5%
1Y
53.5%
UI
US$798.38
Ubiquiti
7D
5.7%
1Y
139.8%
ITRN
US$45.89
Ituran Location and Control
7D
-3.4%
1Y
15.2%

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