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U.S. Communications Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies76
  • 7D1.7%
  • 3M17.0%
  • 1Y47.7%
  • YTD12.8%

The Communications industry is up 1.7% in the last week, with Lumentum Holdings up 16%. This takes the industry's 12 month performance to a gain of 48%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026US$763.6bUS$109.0bUS$18.3b43.3x41.8x7x
Fri, 30 Jan 2026US$719.1bUS$106.3bUS$16.7b31.6x43x6.8x
Sun, 28 Dec 2025US$680.7bUS$106.1bUS$16.7b34.1x40.7x6.4x
Tue, 25 Nov 2025US$628.0bUS$105.9bUS$16.6b30.7x37.9x5.9x
Thu, 23 Oct 2025US$664.4bUS$103.3bUS$16.0b30.5x41.5x6.4x
Sat, 20 Sep 2025US$652.3bUS$103.3bUS$16.0b30.5x40.8x6.3x
Mon, 18 Aug 2025US$599.2bUS$102.8bUS$16.1b25.1x37.3x5.8x
Wed, 16 Jul 2025US$555.2bUS$100.5bUS$14.0b28x39.7x5.5x
Fri, 13 Jun 2025US$533.0bUS$105.7bUS$14.3b27x37.2x5x
Sun, 11 May 2025US$500.1bUS$104.0bUS$13.9b22.1x36x4.8x
Tue, 08 Apr 2025US$432.9bUS$102.8bUS$12.4b23.6x34.8x4.2x
Thu, 06 Mar 2025US$511.4bUS$103.1bUS$12.4b27.4x41.4x5x
Sat, 01 Feb 2025US$555.7bUS$102.5bUS$12.2b25.2x45.6x5.4x
Mon, 30 Dec 2024US$545.4bUS$102.5bUS$12.1b25.3x45.2x5.3x
Wed, 27 Nov 2024US$527.0bUS$102.5bUS$12.1b24.5x43.5x5.1x
Fri, 25 Oct 2024US$500.3bUS$103.0bUS$12.0b27.4x41.8x4.9x
Sun, 22 Sep 2024US$472.5bUS$103.0bUS$12.0b25.3x39.4x4.6x
Tue, 20 Aug 2024US$435.2bUS$101.2bUS$11.6b25.6x37.5x4.3x
Thu, 18 Jul 2024US$360.8bUS$92.6bUS$12.6b27.3x28.6x3.9x
Sat, 15 Jun 2024US$336.0bUS$92.7bUS$12.6b27.1x26.6x3.6x
Mon, 13 May 2024US$341.7bUS$94.4bUS$14.1b27.2x24.2x3.6x
Wed, 10 Apr 2024US$398.7bUS$104.8bUS$16.3b34.4x24.5x3.8x
Fri, 08 Mar 2024US$397.2bUS$104.8bUS$16.3b32.5x24.3x3.8x
Sun, 04 Feb 2024US$343.3bUS$95.8bUS$14.9b26.9x23x3.6x
Tue, 02 Jan 2024US$330.9bUS$96.1bUS$15.1b24.6x21.9x3.4x
Thu, 30 Nov 2023US$310.1bUS$96.2bUS$14.9b24.4x20.8x3.2x
Sat, 28 Oct 2023US$307.7bUS$94.7bUS$14.5b24.4x21.2x3.2x
Mon, 25 Sep 2023US$323.6bUS$94.7bUS$14.6b28.3x22.1x3.4x
Wed, 23 Aug 2023US$336.2bUS$94.5bUS$14.6b26.4x23x3.6x
Fri, 21 Jul 2023US$322.1bUS$91.5bUS$13.5b26.8x23.8x3.5x
Sun, 18 Jun 2023US$319.0bUS$91.4bUS$13.5b20.8x23.6x3.5x
Tue, 16 May 2023US$286.1bUS$89.8bUS$13.5b25.9x21.3x3.2x
Thu, 13 Apr 2023US$310.0bUS$89.0bUS$13.2b27x23.6x3.5x
Sat, 11 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 32.4x202420252026
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 41.8x which is higher than its 3-year average PE of 32.4x.
  • The 3-year average PS ratio of 4.5x is lower than the industry's current PS ratio of 7.0x.
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-0.57%
Tech-2.05%
Communications1.68%
Communications Equipment1.68%
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$95.3469.4%
+US$3.3b		425.6%PS15.7x
CSCO Cisco SystemsUS$78.961.0%
+US$3.2b		24.8%PE28.2x
MSI Motorola SolutionsUS$480.222.0%
+US$1.6b		13.5%PE36.9x
VIAV Viavi SolutionsUS$33.0413.4%
+US$904.7m		200.6%PS6.1x
FFIV F5US$281.543.5%
+US$537.5m		0.5%PE22.5x

Latest News

GILT
US$16.90
Gilat Satellite Networks
7D
8.9%
1Y
153.4%
VIAV
US$33.04
Viavi Solutions
7D
13.4%
1Y
200.6%
LITE
US$694.43
Lumentum Holdings
7D
0.9%
1Y
966.9%
VSAT
US$45.82
Viasat
7D
-4.4%
1Y
435.6%

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.
CIEN
US$333.07
Ciena
7D
-2.8%
1Y
348.2%
CSCO
US$78.96
Cisco Systems
7D
1.0%
1Y
24.8%

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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$480.22
Motorola Solutions
7D
2.0%
1Y
13.5%
ADTN
US$9.88
ADTRAN Holdings
7D
-6.6%
1Y
-7.1%
VISN
US$17.41
Vistance Networks
7D
-3.0%
1Y
183.1%
AAOI
US$95.34
Applied Optoelectronics
7D
69.4%
1Y
425.6%
FFIV
US$281.54
F5
7D
3.5%
1Y
0.5%
ONDS
US$10.02
Ondas
7D
-3.7%
1Y
1,050.1%

ONDS: Capital Raise And Roboteam Acquisition Will Support $110m Revenue Goal

Analysts have raised their Ondas price targets by $1 to $9 across recent reports, citing the $1b capital raise and Roboteam acquisition as key supports for the updated valuation framework. Analyst Commentary Street research on Ondas has become more active, with several firms revisiting their models and lifting price targets after the $1b capital raise and the planned Roboteam acquisition.
ANET
US$124.60
Arista Networks
7D
-3.2%
1Y
45.7%
CALX
US$52.58
Calix
7D
-1.6%
1Y
50.1%
UI
US$762.35
Ubiquiti
7D
0.5%
1Y
135.9%
ITRN
US$45.51
Ituran Location and Control
7D
-5.2%
1Y
15.2%

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