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U.S. Communications Industry Analysis

UpdatedJan 06, 2026
DataAggregated Company Financials
Companies77
  • 7D-0.1%
  • 3M-0.6%
  • 1Y27.7%
  • YTD0.02%

The Communications is pretty flat in the last 7 days, but Arista Networks has stood out, gaining 3.6%. As for the the longer term, the industry is up 28% over the past 12 months. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 06 Jan 2026US$676.3bUS$106.1bUS$16.7b38.8x40.4x6.4x
Thu, 04 Dec 2025US$658.7bUS$105.8bUS$16.6b31.5x39.7x6.2x
Sat, 01 Nov 2025US$692.9bUS$103.8bUS$16.0b32x43.4x6.7x
Mon, 29 Sep 2025US$638.4bUS$103.3bUS$16.0b30.2x39.9x6.2x
Wed, 27 Aug 2025US$606.4bUS$103.1bUS$16.2b25.9x37.3x5.9x
Fri, 25 Jul 2025US$570.2bUS$100.6bUS$14.0b28.6x40.7x5.7x
Sun, 22 Jun 2025US$529.4bUS$105.7bUS$14.3b26.8x36.9x5x
Tue, 20 May 2025US$536.0bUS$105.5bUS$14.5b26x37x5.1x
Thu, 17 Apr 2025US$466.0bUS$102.8bUS$12.4b24.1x37.5x4.5x
Sat, 15 Mar 2025US$483.2bUS$103.1bUS$12.4b25.4x39.1x4.7x
Mon, 10 Feb 2025US$572.3bUS$102.7bUS$12.3b25.6x46.6x5.6x
Wed, 08 Jan 2025US$549.6bUS$102.4bUS$12.1b24.6x45.4x5.4x
Fri, 06 Dec 2024US$539.6bUS$102.5bUS$12.1b24.8x44.5x5.3x
Sun, 03 Nov 2024US$496.3bUS$102.8bUS$12.1b23.8x41.1x4.8x
Tue, 01 Oct 2024US$477.1bUS$103.0bUS$12.0b25.7x39.8x4.6x
Thu, 29 Aug 2024US$452.0bUS$103.1bUS$12.0b26.5x37.8x4.4x
Sat, 27 Jul 2024US$340.3bUS$92.3bUS$12.2b27.6x27.9x3.7x
Mon, 24 Jun 2024US$345.1bUS$92.7bUS$12.6b26.5x27.3x3.7x
Wed, 22 May 2024US$340.7bUS$92.4bUS$12.7b27.3x26.8x3.7x
Fri, 19 Apr 2024US$379.9bUS$104.8bUS$16.3b30.2x23.4x3.6x
Sun, 17 Mar 2024US$393.9bUS$104.8bUS$16.3b31.7x24.1x3.8x
Tue, 13 Feb 2024US$398.3bUS$105.5bUS$16.5b29.7x24.1x3.8x
Thu, 11 Jan 2024US$333.1bUS$96.1bUS$15.1b25.3x22x3.5x
Sat, 09 Dec 2023US$312.1bUS$96.1bUS$15.1b25.2x20.7x3.2x
Mon, 06 Nov 2023US$327.1bUS$94.9bUS$14.7b23.1x22.2x3.4x
Wed, 04 Oct 2023US$329.2bUS$94.7bUS$14.6b28.5x22.5x3.5x
Fri, 01 Sep 2023US$349.3bUS$94.7bUS$14.6b31.1x23.9x3.7x
Sun, 30 Jul 2023US$320.8bUS$91.6bUS$13.4b24.4x23.9x3.5x
Tue, 27 Jun 2023US$306.2bUS$91.4bUS$13.5b23.6x22.7x3.3x
Thu, 25 May 2023US$293.7bUS$91.2bUS$13.5b23.1x21.8x3.2x
Sat, 22 Apr 2023US$292.1bUS$89.1bUS$13.2b25.1x22.2x3.3x
Mon, 20 Mar 2023US$310.0bUS$89.0bUS$13.1b23.9x23.6x3.5x
Wed, 15 Feb 2023US$296.8bUS$87.6bUS$13.1b29.7x22.7x3.4x
Fri, 13 Jan 2023US$296.7bUS$86.7bUS$13.0b27x22.8x3.4x
Price to Earnings Ratio

22.8x


Total Market Cap: US$296.7bTotal Earnings: US$13.0bTotal Revenue: US$86.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 31.5x202420252026
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 40.4x which is higher than its 3-year average PE of 31.5x.
  • The 3-year average PS ratio of 4.4x is lower than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 8.6% per year over the last three years.
  • Revenues for these companies have grown 6.9% 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 Market0.48%
Tech-0.72%
Communications-0.098%
Communications Equipment-0.098%
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
ANET Arista NetworksUS$137.193.6%
+US$6.0b		19.0%PE51.5x
ONDS Ondas HoldingsUS$12.5339.4%
+US$1.3b		372.8%PS189.5x
FFIV F5US$272.064.9%
+US$737.2m		5.7%PE22.8x
VSAT ViasatUS$38.508.9%
+US$427.4m		298.6%PS1.1x
UI UbiquitiUS$564.300.5%
+US$162.7m		59.7%PE43.1x

Latest News

EXTR
US$16.65
Extreme Networks
7D
-1.4%
1Y
-2.6%
LITE
US$357.05
Lumentum Holdings
7D
-3.8%
1Y
312.3%
VSAT
US$38.50
Viasat
7D
8.9%
1Y
298.6%

VSAT: Future Multi Orbit Government Contracts Will Support Bullish Upside Potential

Analysts have nudged their fair value estimate for Viasat up from US$50.00 to US$52.00, citing updated assumptions for revenue growth, profit margins, and a lower discount rate, which also leads them to apply a modestly lower future P/E multiple. What's in the News Viasat announced an expanded global Ka-band satellite communications network for government and military users, integrating its own Ka-band satellites, the Global Xpress fleet and partner satellites to offer interoperable, multi orbit connectivity and roaming with MILSATCOM Ka-band systems (Product related announcement).
CIEN
US$230.90
Ciena
7D
-3.1%
1Y
181.8%

CIEN: Hyperscale And AI Optical Demand Will Drive Future Upside Potential

Narrative Update on Ciena The analyst price target for Ciena has moved from US$150 to US$305. This change reflects analysts' updated assumptions for faster revenue growth, higher profit margins, and a richer future P/E multiple, supported by recent research citing data center and AI driven optical demand, stronger networking fundamentals, and the Nubis acquisition.
CSCO
US$75.58
Cisco Systems
7D
-2.4%
1Y
28.3%
CALX
US$54.31
Calix
7D
2.5%
1Y
49.5%

CALX: Third-Gen AI Platform And Q3 Execution Will Support Further Upside

Analysts have raised their Calix price target to US$85 from US$65, citing strong Q3 performance, competitive wins, broad-based demand and expectations that the company's third generation platform could support further execution and valuation upside. Analyst Commentary Bullish analysts are highlighting Calix as a Q3 execution story, with price targets moving to US$85 as they reassess the company’s ability to win share and support higher valuation multiples over time.
ANET
US$137.19
Arista Networks
7D
3.6%
1Y
19.0%
ONDS
US$12.53
Ondas Holdings
7D
39.4%
1Y
372.8%
FFIV
US$272.06
F5
7D
4.9%
1Y
5.7%
GILT
US$14.31
Gilat Satellite Networks
7D
9.5%
1Y
120.8%

We Ran A Stock Scan For Earnings Growth And Gilat Satellite Networks (NASDAQ:GILT) Passed With Ease

Dec 27
We Ran A Stock Scan For Earnings Growth And Gilat Satellite Networks (NASDAQ:GILT) Passed With Ease
AAOI
US$34.99
Applied Optoelectronics
7D
-2.9%
1Y
6.1%

AAOI: InP Laser And Transceiver Automation Will Support Structurally Stronger Margins

We raise our fair value estimate for Applied Optoelectronics to $50 from $34, reflecting analysts' higher confidence in the company's laser and transceiver capabilities and structurally stronger margins, even as some caution that the current share price already embeds aggressive growth expectations. Analyst Commentary Bullish analysts point to Applied Optoelectronics' differentiated position in indium phosphide, or InP, laser epitaxy and advanced transceiver manufacturing as key reasons for raising price targets and assigning favorable ratings.
NTCT
US$27.11
NetScout Systems
7D
-0.9%
1Y
25.1%

NTCT: Future Profitability And New Offerings Will Balance Execution Risks

Analysts have raised their price target on NetScout Systems from $21.00 to approximately $27.27, citing the latest Street research that reflects improved profitability expectations, despite more modest revenue growth assumptions. Analyst Commentary While some on the Street have turned incrementally positive on NetScout Systems, the overall tone of recent research remains mixed, with several bearish analysts highlighting ongoing risks to the investment case.
MSI
US$382.68
Motorola Solutions
7D
-0.3%
1Y
-15.9%

MSI: Recurring Revenue Mix Will Drive Upside Despite Recent Price Target Trims

Analysts have trimmed their price target on Motorola Solutions by approximately $5 to about $494 per share. The revision reflects slightly higher discount rate assumptions and modest pressure on long term margins, while analysts remain encouraged by resilient revenue growth, recurring revenue mix, and potential upside from deferred government deals in 2026.
COMM
US$18.63
CommScope Holding Company
7D
1.9%
1Y
263.2%

COMM: Rising Margins And Network Expansion Will Drive Stronger Earnings Potential

Analysts have raised their fair value estimate for CommScope Holding Company from 20.00 dollars to 25.00 dollars, citing expectations of significantly improved profit margins and a lower future price to earnings multiple, despite slightly reduced revenue growth assumptions. What's in the News Opened the CommScope Fiber Architecture Solutions Technology FAST Track facility in Catawba, North Carolina, a live FTTH network that serves as both a training center and innovation hub for service providers, now available for tours and hands on demonstrations (Key Developments).
UI
US$564.30
Ubiquiti
7D
0.5%
1Y
59.7%
RBBN
US$2.87
Ribbon Communications
7D
-2.7%
1Y
-28.2%