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U.S. Communications Industry Analysis

UpdatedJun 13, 2026
DataAggregated Company Financials
Companies78
  • 7D1.1%
  • 3M32.8%
  • 1Y96.0%
  • YTD47.7%

Over the last 7 days, the Communications industry has dropped 6.2%, driven by a pullback from Ciena of 8.6%. In contrast, Arista Networks has gained 5.8%. In the past year, the industry has gained 90%. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Jun 2026US$1.0tUS$115.3bUS$20.6b33.6x48.6x8.7x
Mon, 11 May 2026US$898.2bUS$113.0bUS$18.9b37x47.5x8x
Wed, 08 Apr 2026US$778.9bUS$109.2bUS$18.4b46.3x42.4x7.1x
Fri, 06 Mar 2026US$773.6bUS$109.0bUS$18.3b44.4x42.3x7.1x
Sun, 01 Feb 2026US$702.8bUS$106.3bUS$16.7b31.7x42.1x6.6x
Tue, 30 Dec 2025US$677.4bUS$106.1bUS$16.7b35x40.5x6.4x
Thu, 27 Nov 2025US$647.1bUS$105.8bUS$16.6b31.2x39x6.1x
Sat, 25 Oct 2025US$671.3bUS$103.3bUS$16.0b30.6x41.9x6.5x
Mon, 22 Sep 2025US$654.3bUS$103.3bUS$16.0b30.5x40.9x6.3x
Wed, 20 Aug 2025US$604.3bUS$102.8bUS$16.1b25.3x37.6x5.9x
Fri, 18 Jul 2025US$555.2bUS$100.5bUS$14.0b28.6x39.7x5.5x
Sun, 15 Jun 2025US$524.7bUS$105.7bUS$14.3b26.5x36.6x5x
Tue, 13 May 2025US$500.2bUS$104.0bUS$13.9b23.3x36x4.8x
Thu, 10 Apr 2025US$433.7bUS$102.8bUS$12.4b25.2x34.9x4.2x
Sat, 08 Mar 2025US$508.3bUS$103.1bUS$12.4b26.7x41.1x4.9x
Mon, 03 Feb 2025US$558.5bUS$102.5bUS$12.2b25.2x45.9x5.5x
Wed, 01 Jan 2025US$540.0bUS$102.5bUS$12.1b24.5x44.7x5.3x
Fri, 29 Nov 2024US$530.7bUS$102.5bUS$12.1b24.5x43.8x5.2x
Sun, 27 Oct 2024US$497.3bUS$103.0bUS$12.0b27.3x41.5x4.8x
Tue, 24 Sep 2024US$472.5bUS$103.0bUS$12.0b25.3x39.4x4.6x
Thu, 22 Aug 2024US$440.1bUS$101.1bUS$11.6b26.2x37.9x4.4x
Sat, 20 Jul 2024US$349.5bUS$92.6bUS$12.6b26.7x27.7x3.8x
Mon, 17 Jun 2024US$335.2bUS$92.7bUS$12.6b27.1x26.6x3.6x
Wed, 15 May 2024US$342.7bUS$94.4bUS$14.1b27.9x24.3x3.6x
Fri, 12 Apr 2024US$398.1bUS$104.8bUS$16.3b34x24.5x3.8x
Sun, 10 Mar 2024US$395.6bUS$104.8bUS$16.3b31.1x24.2x3.8x
Tue, 06 Feb 2024US$342.7bUS$95.3bUS$14.9b25.2x22.9x3.6x
Thu, 04 Jan 2024US$328.0bUS$96.1bUS$15.1b23.9x21.7x3.4x
Sat, 02 Dec 2023US$313.5bUS$96.2bUS$14.9b24.9x21.1x3.3x
Mon, 30 Oct 2023US$307.7bUS$94.7bUS$14.6b23.3x21.1x3.2x
Wed, 27 Sep 2023US$318.2bUS$94.7bUS$14.6b23.4x21.7x3.4x
Fri, 25 Aug 2023US$332.3bUS$94.5bUS$14.6b29.1x22.7x3.5x
Sun, 23 Jul 2023US$322.9bUS$91.5bUS$13.5b26.8x23.9x3.5x
Tue, 20 Jun 2023US$319.0bUS$91.4bUS$13.5b20.8x23.6x3.5x
Price to Earnings Ratio

23.6x


Total Market Cap: US$319.0bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.6x202420252026
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 47.3x which is higher than its 3-year average PE of 34.6x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.4x.
Past Earnings Growth
  • The earnings for companies in the Communications 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 Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market0.81%
Tech0.66%
Communications1.07%
Communications Equipment1.07%
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$163.245.8%
+US$11.3b		76.8%PE55.2x
LITE Lumentum HoldingsUS$921.566.7%
+US$4.5b		1,017.5%PE163.3x
VIAV Viavi SolutionsUS$53.4612.4%
+US$1.4b		482.4%PS9.6x
UI UbiquitiUS$588.733.8%
+US$1.3b		53.8%PE37.8x
VSAT ViasatUS$70.174.5%
+US$408.3m		456.9%PS2.1x

Latest News

ADTN
US$15.26
ADTRAN Holdings
7D
-0.6%
1Y
103.5%
CIEN
US$445.98
Ciena
7D
-8.6%
1Y
518.0%
VSAT
US$70.17
Viasat
7D
4.5%
1Y
456.9%
ONDS
US$9.33
Ondas
7D
-10.5%
1Y
412.6%
AAOI
US$169.05
Applied Optoelectronics
7D
-4.5%
1Y
992.8%
EXTR
US$31.11
Extreme Networks
7D
11.0%
1Y
93.5%
New Narrative • Jun 11

AI Networking Demand And Margin Assumptions Will Likely Pressure Future Earnings Potential

Catalysts About Extreme Networks Extreme Networks provides enterprise networking hardware and software, including cloud managed platforms and AI supported automation tools. What are the underlying business or industry changes driving this perspective?
VIAV
US$53.46
Viavi Solutions
7D
12.4%
1Y
482.4%
MSI
US$412.25
Motorola Solutions
7D
0.5%
1Y
1.0%
CSCO
US$121.10
Cisco Systems
7D
-0.4%
1Y
89.0%
Seeking Alpha • Jun 09

Cisco: Stock Price Overvalued But More Justified Than Dot-Com Era

Summary Cisco's current business model is more diversified, with growth driven by AI data center buildout and improved capital structure via debt financing. Cisco's present market competitiveness in Ethernet and Routers is weaker than in 2000, with declining market share despite high R&D spending. Current valuation multiples (P/S 8.08x, P/E 41.38x) are more justified than the 2000 peak, but limited upside remains due to recent price appreciation. Read the full article on Seeking Alpha
LITE
US$921.56
Lumentum Holdings
7D
6.7%
1Y
1,017.5%
VISN
US$12.66
Vistance Networks
7D
7.7%
1Y
117.9%
CLFD
US$39.43
Clearfield
7D
-1.5%
1Y
3.7%
Narrative Update • Jun 06

CLFD: Buybacks And Partnerships Will Support Fiber Platform Adoption Through 2026

Analysts have trimmed their price target on Clearfield by $0.50 to $43.75, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Clearfield entered a partnership with VoltServer to combine Clearfield fiber management and connectivity products with VoltServer Digital Electricity power systems to support 5G small cell networks and other digital infrastructure.
ANET
US$163.24
Arista Networks
7D
5.8%
1Y
76.8%
RBBN
US$2.69
Ribbon Communications
7D
-4.9%
1Y
-28.1%
Narrative Update • Jun 05

RBBN: Cloud Partnerships And Margin Progress Will Support Future Multiple Repricing

Analysts have nudged their price target on Ribbon Communications higher by $0.10, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. Analyst Commentary Recent research highlights a modestly higher valuation view on Ribbon Communications, with the updated price target moving up by $0.10 as analysts refine their fair value work and core assumptions.
UI
US$588.73
Ubiquiti
7D
3.8%
1Y
53.8%
PCLA
US$4.81
PicoCELA
7D
-32.3%
1Y
-86.3%