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U.S. Communications Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies74
  • 7D2.8%
  • 3M9.6%
  • 1Y33.4%
  • YTD7.7%

Over the last 7 days, the Communications industry has risen 2.9%, driven by gains from Cisco Systems of 5.6%. This means that the industry has gained 31% over the past year. Looking forward, 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 Feb 2026US$713.1bUS$106.3bUS$16.7b31.8x42.7x6.7x
Fri, 02 Jan 2026US$672.0bUS$106.1bUS$16.7b35.1x40.2x6.3x
Sun, 30 Nov 2025US$661.3bUS$105.8bUS$16.6b31.6x39.8x6.2x
Tue, 28 Oct 2025US$676.5bUS$103.3bUS$16.0b30.5x42.2x6.5x
Thu, 25 Sep 2025US$645.0bUS$103.3bUS$16.0b30.1x40.3x6.2x
Sat, 23 Aug 2025US$595.2bUS$102.8bUS$16.1b25.5x37x5.8x
Mon, 21 Jul 2025US$566.4bUS$100.5bUS$14.0b28.5x40.5x5.6x
Wed, 18 Jun 2025US$534.7bUS$105.7bUS$14.3b26.7x37.3x5.1x
Fri, 16 May 2025US$526.1bUS$105.5bUS$14.5b23.2x36.3x5x
Sun, 13 Apr 2025US$463.5bUS$102.8bUS$12.4b24.8x37.3x4.5x
Tue, 11 Mar 2025US$509.6bUS$103.1bUS$12.4b25.8x41.2x4.9x
Thu, 06 Feb 2025US$559.8bUS$102.5bUS$12.2b26.4x45.8x5.5x
Sat, 04 Jan 2025US$539.5bUS$102.5bUS$12.1b24.5x44.7x5.3x
Mon, 02 Dec 2024US$531.7bUS$102.5bUS$12.1b24.4x43.9x5.2x
Wed, 30 Oct 2024US$494.5bUS$103.0bUS$12.0b24.6x41.2x4.8x
Fri, 27 Sep 2024US$478.1bUS$103.0bUS$12.0b26.5x39.9x4.6x
Sun, 25 Aug 2024US$455.5bUS$103.1bUS$12.0b28.5x38.1x4.4x
Tue, 23 Jul 2024US$345.5bUS$92.6bUS$12.6b27.6x27.4x3.7x
Thu, 20 Jun 2024US$340.3bUS$92.7bUS$12.6b27x27x3.7x
Sat, 18 May 2024US$345.7bUS$92.4bUS$12.7b27.3x27.2x3.7x
Mon, 15 Apr 2024US$388.2bUS$104.8bUS$16.3b33.5x23.9x3.7x
Wed, 13 Mar 2024US$397.9bUS$104.8bUS$16.3b31.3x24.4x3.8x
Fri, 09 Feb 2024US$339.3bUS$95.6bUS$14.8b27.5x22.9x3.6x
Sun, 07 Jan 2024US$326.6bUS$96.1bUS$15.1b25x21.6x3.4x
Tue, 05 Dec 2023US$313.3bUS$96.0bUS$14.9b25.1x21x3.3x
Thu, 02 Nov 2023US$318.3bUS$95.1bUS$14.8b23x21.6x3.3x
Sat, 30 Sep 2023US$326.0bUS$94.7bUS$14.6b24.6x22.3x3.4x
Mon, 28 Aug 2023US$334.6bUS$94.5bUS$14.6b29.4x22.9x3.5x
Wed, 26 Jul 2023US$328.1bUS$91.5bUS$13.5b26.1x24.3x3.6x
Fri, 23 Jun 2023US$310.3bUS$91.4bUS$13.5b20x23x3.4x
Sun, 21 May 2023US$297.6bUS$91.2bUS$13.5b25.1x22.1x3.3x
Tue, 18 Apr 2023US$310.7bUS$89.0bUS$13.2b26.5x23.6x3.5x
Thu, 16 Mar 2023US$302.3bUS$89.0bUS$13.1b25.7x23x3.4x
Sat, 11 Feb 2023US$291.7bUS$87.2bUS$12.9b31x22.6x3.3x
Price to Earnings Ratio

22.6x


Total Market Cap: US$291.7bTotal Earnings: US$12.9bTotal Revenue: US$87.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 32x202420252026
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 42.1x which is higher than its 3-year average PE of 32.0x.
  • The 3-year average PS ratio of 4.5x is lower than the industry's current PS ratio of 6.6x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 9.0% 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 Market-1.35%
Tech-5.09%
Communications2.76%
Communications Equipment2.76%
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$83.115.6%
+US$17.5b		35.5%PE31.8x
LITE Lumentum HoldingsUS$435.1017.4%
+US$4.6b		404.0%PE274.3x
CIEN CienaUS$276.5211.7%
+US$4.1b		216.0%PE315.8x
VIAV Viavi SolutionsUS$25.8825.0%
+US$1.4b		106.9%PS4.8x
UI UbiquitiUS$569.164.1%
+US$1.4b		35.2%PE43.5x

Latest News

LITE
US$435.10
Lumentum Holdings
7D
17.4%
1Y
404.0%
VIAV
US$25.88
Viavi Solutions
7D
25.0%
1Y
106.9%
AUDC
US$7.35
AudioCodes
7D
-16.5%
1Y
-31.1%
CSCO
US$83.11
Cisco Systems
7D
5.6%
1Y
35.5%
FFIV
US$274.63
F5
7D
1.6%
1Y
-8.4%
CALX
US$48.12
Calix
7D
-14.0%
1Y
18.1%

CALX: Buyback Expansion And Platform Adoption Will Support Future Upside Potential

Our fair value estimate for Calix has shifted from US$82 to US$75, as analysts refine their price targets and assumptions around revenue growth, profit margins, and future P/E, while still highlighting potential opportunity if the share price weakens. Analyst Commentary Recent research updates on Calix point to a mixed but engaged analyst view, with several firms trimming price targets while still seeing room for upside if execution aligns with their expectations.
VSAT
US$44.03
Viasat
7D
-2.2%
1Y
376.5%

VSAT: Potential Defense Spinout And New Ka Band Capacity Will Drive Upside

Analysts recently lifted their Viasat price target by $39, citing refreshed views on long term growth, profitability and P/E assumptions, and pointing to potential portfolio moves similar to L3Harris's planned spinout as a key part of the story. Analyst Commentary Bullish analysts have been pointing to refreshed views on Viasat's long term growth profile, profitability path and P/E assumptions as they reassess the stock.
HLIT
US$9.84
Harmonic
7D
-4.0%
1Y
-12.1%

Harmonic (NASDAQ:HLIT) Shareholders Will Want The ROCE Trajectory To Continue

Jan 30
Harmonic (NASDAQ:HLIT) Shareholders Will Want The ROCE Trajectory To Continue
MSI
US$409.47
Motorola Solutions
7D
0.8%
1Y
-13.1%
ONDS
US$11.38
Ondas
7D
-7.2%
1Y
573.4%

Autonomous Defense And Counter Drone Demand Will Transform Long Term Prospects

Catalysts About Ondas Ondas develops and commercializes autonomous systems, counter drone technologies and industrial wireless connectivity platforms for defense, security and critical infrastructure customers. What are the underlying business or industry changes driving this perspective?
ANET
US$139.39
Arista Networks
7D
-5.0%
1Y
24.1%
NTGR
US$20.95
NETGEAR
7D
-3.7%
1Y
-25.8%
AAOI
US$46.12
Applied Optoelectronics
7D
23.3%
1Y
70.1%

AAOI: InP Lasers And Automation Will Support Future AI Transceiver Leadership

Analysts have lifted their blended price target range for Applied Optoelectronics toward the mid teens to mid $30s, reflecting mixed views that balance concerns about valuation and ambitious revenue assumptions with confidence in the company's InP laser capabilities and highly automated transceiver production. Analyst Commentary Recent research on Applied Optoelectronics shows a clear split between bullish analysts who see upside from the company’s technology and production capabilities and more cautious voices focused on valuation and execution risk.
CIEN
US$276.52
Ciena
7D
11.7%
1Y
216.0%

CIEN: Hyperscale AI Optical Demand And IT Spending Will Support Upside

Analysts have lifted their price target on Ciena to US$200 from US$120, citing expectations for solid results supported by hyperscale and AI driven optical demand, as well as ongoing infrastructure spending in IT hardware and networking. Analyst Commentary Bullish analysts are pointing to Ciena as a key beneficiary of rising demand for optical networking tied to hyperscale data centers and AI related workloads.
UI
US$569.16
Ubiquiti
7D
4.1%
1Y
35.2%

Why Ubiquiti Inc. (NYSE:UI) Could Be Worth Watching

Jan 10
Why Ubiquiti Inc. (NYSE:UI) Could Be Worth Watching
MOB
US$6.84
Mobilicom
7D
-26.1%
1Y
n/a