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U.S. Communications Industry Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies77
  • 7D-3.3%
  • 3M-1.2%
  • 1Y22.8%
  • YTD-4.0%

Over the last 7 days, the Communications industry has dropped 3.3%, driven by a pullback from Cisco Systems of 4.0%. Meanwhile, Ondas Holdings actually outperformed within the industry, gaining 44% in the last week. Over the past 12 months, the industry was up 23%. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 09 Jan 2026US$669.4bUS$106.1bUS$16.7b39x40x6.3x
Sun, 07 Dec 2025US$664.6bUS$105.8bUS$16.6b32.2x40x6.3x
Tue, 04 Nov 2025US$689.8bUS$103.8bUS$16.0b31.1x43.2x6.6x
Thu, 02 Oct 2025US$649.8bUS$103.3bUS$16.0b29.9x40.6x6.3x
Sat, 30 Aug 2025US$625.1bUS$103.0bUS$16.2b26.2x38.5x6.1x
Mon, 28 Jul 2025US$572.8bUS$100.6bUS$14.0b28.6x40.9x5.7x
Wed, 25 Jun 2025US$549.8bUS$105.7bUS$14.3b29.2x38.3x5.2x
Fri, 23 May 2025US$525.3bUS$105.5bUS$14.3b26x36.7x5x
Sun, 20 Apr 2025US$454.4bUS$102.8bUS$12.4b24.1x36.5x4.4x
Tue, 18 Mar 2025US$493.9bUS$102.8bUS$12.5b25.9x39.7x4.8x
Thu, 13 Feb 2025US$566.4bUS$102.8bUS$12.3b26.5x46.2x5.5x
Sat, 11 Jan 2025US$547.3bUS$102.4bUS$12.1b23.7x45.2x5.3x
Mon, 09 Dec 2024US$543.0bUS$102.5bUS$12.1b24.8x44.8x5.3x
Wed, 06 Nov 2024US$498.0bUS$102.8bUS$12.0b24.3x41.4x4.8x
Fri, 04 Oct 2024US$479.2bUS$102.9bUS$12.0b24.7x39.9x4.7x
Sun, 01 Sep 2024US$456.5bUS$103.1bUS$12.0b27.2x38.1x4.4x
Tue, 30 Jul 2024US$345.5bUS$92.3bUS$12.2b27.4x28.4x3.7x
Thu, 27 Jun 2024US$344.0bUS$92.7bUS$12.6b26.1x27.3x3.7x
Sat, 25 May 2024US$330.8bUS$92.9bUS$12.7b27.5x26.1x3.6x
Mon, 22 Apr 2024US$377.1bUS$104.8bUS$16.3b30.1x23.2x3.6x
Wed, 20 Mar 2024US$398.0bUS$104.8bUS$16.3b31.5x24.4x3.8x
Fri, 16 Feb 2024US$394.5bUS$105.0bUS$16.5b30.3x23.8x3.8x
Sun, 14 Jan 2024US$337.3bUS$96.1bUS$15.1b25.1x22.3x3.5x
Tue, 12 Dec 2023US$320.9bUS$96.1bUS$15.1b25.5x21.2x3.3x
Thu, 09 Nov 2023US$326.9bUS$94.9bUS$14.7b22.8x22.3x3.4x
Sat, 07 Oct 2023US$324.5bUS$94.7bUS$14.6b23.4x22.2x3.4x
Mon, 04 Sep 2023US$351.9bUS$94.7bUS$14.6b31x24x3.7x
Wed, 02 Aug 2023US$326.5bUS$92.1bUS$13.6b27x24x3.5x
Fri, 30 Jun 2023US$314.9bUS$91.4bUS$13.5b23.7x23.3x3.4x
Sun, 28 May 2023US$310.0bUS$91.2bUS$13.5b22.8x23x3.4x
Tue, 25 Apr 2023US$293.8bUS$89.1bUS$13.2b24.3x22.3x3.3x
Thu, 23 Mar 2023US$307.9bUS$89.0bUS$13.1b27.2x23.5x3.5x
Sat, 18 Feb 2023US$308.3bUS$88.5bUS$13.0b29.4x23.7x3.5x
Mon, 16 Jan 2023US$295.5bUS$86.7bUS$13.0b26.9x22.7x3.4x
Price to Earnings Ratio

22.7x


Total Market Cap: US$295.5bTotal 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 40.0x 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 6.3x.
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 Market1.49%
Tech-0.84%
Communications-3.34%
Communications Equipment-3.34%
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
ONDS Ondas HoldingsUS$14.0143.5%
+US$1.6b		451.6%PS211.9x
FFIV F5US$269.415.5%
+US$822.0m		4.1%PE22.6x
VSAT ViasatUS$38.7212.4%
+US$576.2m		330.7%PS1.1x
GILT Gilat Satellite NetworksUS$15.0116.0%
+US$151.4m		137.5%PE46.3x
MOB MobilicomUS$8.1433.4%
+US$24.4m		n/aPS34.5x

Latest News

LITE
US$348.26
Lumentum Holdings
7D
-5.5%
1Y
308.8%
VIAV
US$17.11
Viavi Solutions
7D
-4.0%
1Y
68.9%
VSAT
US$38.72
Viasat
7D
12.4%
1Y
330.7%
FFIV
US$269.41
F5
7D
5.5%
1Y
4.1%

FFIV: Breach Overhang And Softer FY26 Outlook Should Gradually Ease

Analysts have trimmed their price targets on F5 and now frame our updated fair value estimate at US$290.30, only slightly above the prior US$287.50. They weigh the short term drag from the security breach, softer FY26 guidance and software renewal uncertainty against a still constructive view on systems demand and the potential for delayed, rather than lost, deals.
GILT
US$15.01
Gilat Satellite Networks
7D
16.0%
1Y
137.5%

Earnings Not Telling The Story For Gilat Satellite Networks Ltd. (NASDAQ:GILT) After Shares Rise 27%

Jan 07
Earnings Not Telling The Story For Gilat Satellite Networks Ltd. (NASDAQ:GILT) After Shares Rise 27%
CSCO
US$73.96
Cisco Systems
7D
-4.0%
1Y
24.9%

CSCO: AI Infrastructure Demand And Networking Strength Will Support Multi Year Upside

Analysts nudged their Cisco Systems price target higher, citing a modest uptick in fair value and a slightly richer assumed future P/E multiple, supported by recent research highlighting continued strength in networking and growing artificial intelligence related demand despite softer security trends. Analyst Commentary Recent research on Cisco Systems reflects a generally constructive stance, with several firms lifting price targets and a couple of upgrades that highlight how investors are weighing networking strength and artificial intelligence demand against softer security trends.
AAOI
US$33.01
Applied Optoelectronics
7D
-5.3%
1Y
2.0%

AAOI: Texas Expansion And Amazon Contract Expectations Will Shape A Balanced Outlook

Analysts have lifted their fair value estimate for Applied Optoelectronics from $30.60 to $36.60, reflecting updated assumptions on revenue growth, profit margins, and future P/E after recent research visits and valuation checks that highlighted both the company’s manufacturing capabilities and differing views on how much of the Amazon opportunity is already priced in. Analyst Commentary Recent Street research on Applied Optoelectronics presents a split view, with some analysts focusing on the company’s operational strengths and others pointing to valuation risks and ambitious revenue assumptions tied to the Amazon opportunity.
CIEN
US$225.21
Ciena
7D
-3.7%
1Y
173.9%
LTRX
US$6.23
Lantronix
7D
6.3%
1Y
55.0%
MSI
US$381.89
Motorola Solutions
7D
-0.4%
1Y
-17.5%

MSI: Government Deal Delays Will Support Future Recurring Revenue Upside

Analysts have nudged their fair value estimate for Motorola Solutions slightly lower, to about $488 from roughly $494, as modest tweaks to discount rate and growth assumptions follow recent price target cuts that still factor in potential upside from government shutdown related deal timing. Analyst Commentary Recent commentary around Motorola Solutions reflects a mix of confidence in the business outlook and caution around valuation and deal timing.
ANET
US$123.72
Arista Networks
7D
-5.6%
1Y
7.1%
ONDS
US$14.01
Ondas Holdings
7D
43.5%
1Y
451.6%
MOB
US$8.14
Mobilicom
7D
33.4%
1Y
n/a
CLFD
US$30.21
Clearfield
7D
3.6%
1Y
-12.9%

CLFD: BEAD Demand And Buybacks Will Drive Upside Into 2026

Clearfield's analyst price target has been trimmed by a few dollars to a mid 40s range per share, as analysts factor in softer near term guidance tied to divestitures and seasonality, but maintain a constructive long term view supported by BEAD driven demand and expectations for 20 percent plus growth into FY26 and FY27. Analyst Commentary Street research remains constructive on Clearfield despite the recent round of price target cuts, with most analysts emphasizing that softer near term guidance is being weighed against an improving multi year growth outlook as BEAD related funding ramps.
UI
US$549.20
Ubiquiti
7D
-0.7%
1Y
53.8%
CHAI
US$2.37
Core AI Holdings
7D
45.4%
1Y
n/a