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U.S. Communications Equipment Industry Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies77
  • 7D0.8%
  • 3M4.6%
  • 1Y68.0%
  • YTDn/a

Over the last 7 days, the Communications Equipment industry has remained flat, although notably Lumentum Holdings gained 10%. As for the the longer term, the industry is up 68% over the past 12 months. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Jul 2026US$965.4bUS$115.3bUS$20.6b32x46.8x8.4x
Sat, 20 Jun 2026US$996.8bUS$115.3bUS$20.6b31.3x48.4x8.6x
Mon, 18 May 2026US$981.6bUS$114.8bUS$20.2b30.9x48.6x8.6x
Wed, 15 Apr 2026US$844.9bUS$109.2bUS$18.4b45.7x46x7.7x
Fri, 13 Mar 2026US$762.0bUS$109.3bUS$18.4b41.9x41.5x7x
Sun, 08 Feb 2026US$745.5bUS$106.8bUS$17.2b32.8x43.3x7x
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
Price to Earnings Ratio

23.9x


Total Market Cap: US$320.8bTotal Earnings: US$13.4bTotal Revenue: US$91.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Equipment Industry Price to Earnings3Y Average 35.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Communications Equipment industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 46.8x which is higher than its 3-year average PE of 35.5x.
  • The 3-year average PS ratio of 5.1x is lower than the industry's current PS ratio of 8.4x.
Past Earnings Growth
  • The earnings for companies in the Communications Equipment industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 8.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Communications Equipment compare with similar industries?

US Market-1.35%
Tech-0.21%
Communications0.79%
Communications Equipment0.79%
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$112.752.8%
+US$12.2b		65.1%PE37.2x
ANET Arista NetworksUS$176.614.8%
+US$10.1b		54.9%PE59.8x
LITE Lumentum HoldingsUS$833.4118.0%
+US$9.9b		710.3%PE147.7x
CIEN CienaUS$407.534.8%
+US$2.6b		367.4%PE131.6x
VIAV Viavi SolutionsUS$41.8013.2%
+US$1.2b		311.0%PS7.5x

Latest News

ONDS
US$7.93
Ondas
7D
19.2%
1Y
270.6%
NTCT
US$39.45
NetScout Systems
7D
-3.4%
1Y
75.3%
CALX
US$35.77
Calix
7D
-7.4%
1Y
-35.3%
Seeking Alpha • 6h

Calix: Contract Growth Is What Matters

Summary Calix, Inc. is reiterated as a buy, with platform adoption driving contracted revenue and a more attractive entry point post-Q2 2026. Q2 2026 revenue grew 21% y/y to $293.3M, with strong Calix One contract growth and current RPO up 21% y/y. Margin weakness is attributed to higher memory costs, but surcharges and software mix should support eventual margin recovery after Q3 2026. Valuation supports upside to ~$50/share, with risk centered on surcharge impacts and duration of margin trough. Read the full article on Seeking Alpha
MSI
US$407.02
Motorola Solutions
7D
-1.7%
1Y
-4.2%
HLIT
US$11.60
Harmonic
7D
-5.0%
1Y
30.4%
AAOI
US$110.52
Applied Optoelectronics
7D
1.3%
1Y
320.1%
Seeking Alpha • Jul 22

Applied Optoelectronics: The Investment Case Is Simpler Than It Looks

Summary While investors have recognized Applied Optoelectronics's role in AI infrastructure, I believe the market still underestimates the scale of the business the management is building. The investment case is remarkably simple: management either executes on its manufacturing expansion—or it doesn't. If execution succeeds, AAOI's long-term earnings power could be several times higher than what today's valuation implies. Using conservative assumptions, AAOI trades at approximately 11x forward earnings power. Read the full article on Seeking Alpha
VISN
US$11.94
Vistance Networks
7D
-1.2%
1Y
50.6%
VIAV
US$41.80
Viavi Solutions
7D
13.2%
1Y
311.0%
Narrative Update • Jul 22

VIAV: AI Data Center Demand Will Power Field Instrument Upside

The analyst price target for Viavi Solutions has shifted from $34.73 to $70.00. Analysts attribute this change to higher assumed revenue growth, stronger profit margins, and updated forecasts for Field Instrument demand linked to DCI projects at large networking customers.
ANET
US$176.61
Arista Networks
7D
4.8%
1Y
54.9%
LITE
US$833.41
Lumentum Holdings
7D
18.0%
1Y
710.3%
Narrative Update • Jul 21

LITE: AI Optics Demand And Execution On Nvidia Partnership Will Shape Returns

Analysts have trimmed their fair value estimate for Lumentum Holdings from $802.35 to $774.70 as modestly higher discount rate assumptions and lower projected profit margins offset stronger modeled revenue growth and a slightly lower future P/E. Analyst Commentary Recent Street research around Lumentum Holdings highlights a mix of optimism on long term optical demand and caution around execution, earnings visibility and how much of the AI and co packaged optics story is already reflected in the stock price.
FFIV
US$388.08
F5
7D
-3.8%
1Y
28.5%
Seeking Alpha • Jul 21

F5: Strong Fundamentals, Uninspiring Entry Point

Summary F5 is experiencing a robust hardware refresh cycle, driving double-digit product and systems revenue growth and prompting raised full-year guidance. FFIV expects upper-single-digit revenue growth through fiscal 2029, with software poised for double-digit growth and AI-related use cases beginning to contribute. Margins and cash flow remain industry-leading, but near-term margin pressure from component cost inflation is anticipated. Despite operational strength, FFIV trades at a valuation that prices in sustained growth, leaving limited upside; I maintain a hold rating. Read the full article on Seeking Alpha
VSAT
US$74.27
Viasat
7D
8.1%
1Y
413.3%
CSCO
US$112.75
Cisco Systems
7D
2.8%
1Y
65.1%
CIEN
US$407.53
Ciena
7D
4.8%
1Y
367.4%
ADTN
US$10.16
ADTRAN Holdings
7D
-13.3%
1Y
10.7%
UI
US$529.36
Ubiquiti
7D
-2.7%
1Y
18.3%
Seeking Alpha • Jul 08

Ubiquiti: Even The Bull Case Struggles To Reach Today's Price

Summary Ubiquiti is rated Sell, as the current valuation exceeds the justified fair value based on forward growth and peer multiples. Enterprise Technology drives 91% of revenue, compounding above 20%, but consensus expects a deceleration to 12.9% growth in FY2027. Despite a debt-free balance sheet and 47% gross margins, UI's price ($525) sits above a defensible fair value range of $400–$490. Thin analyst coverage and single-segment growth concentration heighten valuation risk; upside depends on sustained Enterprise Tech acceleration or Service Provider stabilization. Read the full article on Seeking Alpha