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U.S. Communications Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies75
  • 7D-1.1%
  • 3M13.6%
  • 1Y36.1%
  • YTD9.0%

Over the last 7 days, the Communications industry has dropped 1.1%, driven by a pullback from Cisco Systems of 11%. Meanwhile, Motorola Solutions actually outperformed within the industry, gaining 9.3% in the last week. Over the past 12 months, the industry was up 36%. 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
Mon, 16 Feb 2026US$737.5bUS$109.2bUS$18.2b31.5x40.6x6.8x
Wed, 14 Jan 2026US$654.9bUS$106.1bUS$16.7b39.3x39.2x6.2x
Fri, 12 Dec 2025US$708.1bUS$105.9bUS$16.6b35.4x42.6x6.7x
Sun, 09 Nov 2025US$641.4bUS$104.8bUS$16.3b29.1x39.2x6.1x
Tue, 07 Oct 2025US$648.4bUS$103.3bUS$16.0b30.1x40.5x6.3x
Thu, 04 Sep 2025US$617.5bUS$103.0bUS$16.2b25.6x38x6x
Sat, 02 Aug 2025US$584.4bUS$100.7bUS$14.1b26.9x41.5x5.8x
Mon, 30 Jun 2025US$560.0bUS$105.7bUS$14.3b28.8x39.1x5.3x
Wed, 28 May 2025US$522.2bUS$105.5bUS$14.3b26.1x36.6x4.9x
Fri, 25 Apr 2025US$455.6bUS$102.8bUS$12.4b24.4x36.6x4.4x
Sun, 23 Mar 2025US$494.4bUS$102.8bUS$12.4b26x39.7x4.8x
Tue, 18 Feb 2025US$557.4bUS$104.1bUS$12.1b28.1x46.2x5.4x
Thu, 16 Jan 2025US$548.5bUS$102.4bUS$11.9b25.4x45.9x5.4x
Sat, 14 Dec 2024US$536.1bUS$102.5bUS$12.1b25.2x44.2x5.2x
Mon, 11 Nov 2024US$523.8bUS$103.2bUS$13.0b24.7x40.2x5.1x
Wed, 09 Oct 2024US$479.5bUS$103.0bUS$12.0b26.6x40x4.7x
Fri, 06 Sep 2024US$442.1bUS$102.9bUS$12.0b25.7x36.8x4.3x
Sun, 04 Aug 2024US$409.0bUS$102.8bUS$13.8b27.4x29.7x4x
Tue, 02 Jul 2024US$350.7bUS$92.6bUS$12.6b25.5x27.8x3.8x
Thu, 30 May 2024US$331.8bUS$92.9bUS$12.7b27.3x26.1x3.6x
Sat, 27 Apr 2024US$383.1bUS$104.6bUS$16.2b31.7x23.7x3.7x
Mon, 25 Mar 2024US$408.3bUS$104.8bUS$16.3b32.3x25.1x3.9x
Wed, 21 Feb 2024US$384.5bUS$104.9bUS$16.5b29.9x23.3x3.7x
Fri, 19 Jan 2024US$341.0bUS$96.1bUS$15.1b25.4x22.6x3.5x
Sun, 17 Dec 2023US$327.1bUS$96.1bUS$15.1b24.7x21.7x3.4x
Tue, 14 Nov 2023US$322.6bUS$95.2bUS$13.9b22.9x23.2x3.4x
Thu, 12 Oct 2023US$324.9bUS$94.7bUS$14.6b21.6x22.2x3.4x
Sat, 09 Sep 2023US$344.8bUS$94.7bUS$14.6b29.9x23.6x3.6x
Mon, 07 Aug 2023US$323.7bUS$92.1bUS$13.6b26.5x23.8x3.5x
Wed, 05 Jul 2023US$317.9bUS$91.4bUS$13.5b23.7x23.5x3.5x
Fri, 02 Jun 2023US$308.3bUS$91.2bUS$13.5b23.2x22.9x3.4x
Sun, 30 Apr 2023US$294.0bUS$89.3bUS$13.3b24.9x22.1x3.3x
Tue, 28 Mar 2023US$313.4bUS$89.0bUS$13.1b27.8x23.9x3.5x
Thu, 23 Feb 2023US$300.4bUS$88.7bUS$13.0b28.5x23x3.4x
Price to Earnings Ratio

23x


Total Market Cap: US$300.4bTotal Earnings: US$13.0bTotal Revenue: US$88.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 32.2x202420252026
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 40.6x which is higher than its 3-year average PE of 32.2x.
  • The 3-year average PS ratio of 4.5x is lower than the industry's current PS ratio of 6.8x.
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 7.2% 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-1.34%
Tech-1.56%
Communications-1.05%
Communications Equipment-1.05%
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
MSI Motorola SolutionsUS$461.769.3%
+US$6.1b		5.4%PE35.5x
CIEN CienaUS$303.924.9%
+US$2.0b		238.4%PE347.1x
UI UbiquitiUS$720.061.1%
+US$464.8m		111.0%PE49x
VSAT ViasatUS$48.855.6%
+US$349.1m		432.7%PS1.4x
NTCT NetScout SystemsUS$29.798.6%
+US$169.7m		23.0%PE22.4x

Latest News

MSI
US$461.76
Motorola Solutions
7D
9.3%
1Y
5.4%

Analysts Have Made A Financial Statement On Motorola Solutions, Inc.'s (NYSE:MSI) Annual Report

Feb 16
Analysts Have Made A Financial Statement On Motorola Solutions, Inc.'s (NYSE:MSI) Annual Report
GILT
US$13.77
Gilat Satellite Networks
7D
-28.5%
1Y
103.1%
ANET
US$141.59
Arista Networks
7D
-0.1%
1Y
32.5%
CSCO
US$76.85
Cisco Systems
7D
-11.4%
1Y
18.5%
CIEN
US$303.92
Ciena
7D
4.9%
1Y
238.4%
VSAT
US$48.85
Viasat
7D
5.6%
1Y
432.7%
UI
US$720.06
Ubiquiti
7D
1.1%
1Y
111.0%
DGII
US$48.26
Digi International
7D
7.3%
1Y
39.9%
LITE
US$562.74
Lumentum Holdings
7D
-2.5%
1Y
624.4%
NTGR
US$21.94
NETGEAR
7D
5.9%
1Y
-22.9%

NTGR: Proposed TP-Link Ban Will Drive Future Demand And Margin Expansion

Analysts have trimmed their price target on NETGEAR from US$39.00 to about US$36.67, citing updated expectations around growth, profitability, and future P/E multiples reflected in recent research such as the Stifel target cut. Analyst Commentary Bullish Takeaways Bullish analysts see the revised price target of about US$36.67 as still allowing for upside if management can execute on growth and profitability initiatives implied in the updated models.
ONDS
US$9.31
Ondas
7D
-10.0%
1Y
408.7%

ONDS: Capital Raise And Roboteam Deal Will Support $110m Ambition

Analysts have nudged their blended price target for Ondas higher by a few dollars, citing recent price target increases from several firms following the company's large $1b capital raise, the planned $80m Roboteam acquisition, and stronger reported Q3 results and backlog. Analyst Commentary Bullish Takeaways Bullish analysts see the recent price target increases following the US$1b capital raise as a sign that the new cash position of about US$840m strengthens Ondas' ability to execute on its plans without near term funding pressure.
VIAV
US$26.29
Viavi Solutions
7D
-4.8%
1Y
116.4%

VIAV: AI Data Center Exposure And Margins Will Shape Balanced Risk Profile

The updated analyst price target for Viavi Solutions has moved from $19.00 to about $26.07. Analysts generally point to revised fair value and profit margin assumptions, along with a modest shift in discount rate and future P/E expectations, as they incorporate a wave of recent target increases across the Street.
FFIV
US$273.93
F5
7D
-1.7%
1Y
-11.7%

FFIV: Breach Concerns Will Fade As Delayed Cybersecurity Deals Eventually Close

Analysts have lifted their fair value estimate on F5 by about US$15 to roughly US$310, reflecting Street price target increases from several firms and updated assumptions around slightly higher revenue growth, a modestly lower discount rate, and a lower future P/E multiple, alongside a small reduction in projected profit margins. Analyst Commentary Street research around F5 has leaned more constructive recently, with several firms lifting their price targets and at least one upgrade alongside a more cautious check on near term deal activity.
NTCT
US$29.79
NetScout Systems
7D
8.6%
1Y
23.0%

NTCT: Steady Outlook Will Balance Modest Guidance Shift And Margin Caution

Analysts have kept their fair value estimate for NetScout Systems steady at US$27.27, citing offsetting adjustments to revenue growth, profit margin expectations, and the future P/E multiple that together leave their overall price target unchanged. What's in the News Revised fiscal 2026 revenue guidance to a range of US$835 million to US$870 million, with midpoint commentary indicating implied year over year growth of 3.6% compared with the prior range of US$830 million to US$870 million (company guidance).
AAOI
US$44.46
Applied Optoelectronics
7D
-7.2%
1Y
71.7%

AAOI: Houston Automation Strength And Amazon Expectations Will Shape A Measured Outlook

Narrative Update on Applied Optoelectronics Analysts now frame Applied Optoelectronics' outlook around a split view, with one firm lifting its price target to $35 after a site visit that highlighted manufacturing capabilities, while another reiterates a $15 target and a Sell rating based on valuation concerns and what it calls ambitious 2026 revenue expectations tied to the Amazon opportunity. Analyst Commentary Recent research on Applied Optoelectronics splits into two camps, with some analysts highlighting upside linked to manufacturing strength and others questioning how much of the potential growth story is already reflected in the share price.
HLIT
US$10.68
Harmonic
7D
3.8%
1Y
6.2%

HLIT: Broadband And Streaming Wins Will Support Stronger Long Term Demand

Analysts have kept their price target for Harmonic broadly steady around $11.79, with only small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E. These adjustments help to fine tune their view rather than shift it in a big way.