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U.S. Communications Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies79
  • 7D-1.3%
  • 3M19.6%
  • 1Y68.5%
  • YTD38.2%

Over the last 7 days, the Communications industry has dropped 2.5%, driven by pullbacks in Ciena and Lumentum Holdings of 12% and 11%, respectively. This takes the industry's 12 month performance to a gain of 69%. As for the next few years, earnings are expected to grow by 21% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Jul 2026US$945.4bUS$115.3bUS$20.6b31.6x45.9x8.2x
Mon, 01 Jun 2026US$1.0tUS$114.9bUS$20.4b36.2x49.8x8.8x
Wed, 29 Apr 2026US$894.4bUS$109.2bUS$18.4b37.2x48.6x8.2x
Fri, 27 Mar 2026US$797.1bUS$109.4bUS$18.3b42.5x43.6x7.3x
Sun, 22 Feb 2026US$750.5bUS$108.9bUS$18.1b43.1x41.4x6.9x
Tue, 20 Jan 2026US$669.2bUS$106.1bUS$16.7b31.5x40x6.3x
Thu, 18 Dec 2025US$671.9bUS$106.1bUS$16.7b30.7x40.2x6.3x
Sat, 15 Nov 2025US$653.1bUS$105.8bUS$16.6b30.9x39.4x6.2x
Mon, 13 Oct 2025US$659.3bUS$103.3bUS$16.0b29.7x41.2x6.4x
Wed, 10 Sep 2025US$634.0bUS$103.3bUS$16.0b27.2x39.6x6.1x
Fri, 08 Aug 2025US$613.3bUS$101.3bUS$14.4b25.1x42.7x6.1x
Sun, 06 Jul 2025US$557.9bUS$100.5bUS$14.0b28.8x39.9x5.6x
Tue, 03 Jun 2025US$515.1bUS$105.5bUS$14.3b26.1x35.9x4.9x
Thu, 01 May 2025US$481.8bUS$102.9bUS$12.5b19.3x38.6x4.7x
Sat, 29 Mar 2025US$494.3bUS$102.8bUS$12.4b25.6x39.7x4.8x
Mon, 24 Feb 2025US$536.3bUS$104.5bUS$12.3b27.7x43.8x5.1x
Wed, 22 Jan 2025US$561.7bUS$102.4bUS$11.9b25.9x47x5.5x
Fri, 20 Dec 2024US$527.8bUS$102.5bUS$12.1b24.4x43.7x5.2x
Sun, 17 Nov 2024US$509.4bUS$102.4bUS$12.1b22.5x42x5x
Tue, 15 Oct 2024US$499.5bUS$103.0bUS$12.0b27.4x41.7x4.9x
Thu, 12 Sep 2024US$442.8bUS$103.0bUS$12.0b24.5x36.9x4.3x
Sat, 10 Aug 2024US$411.5bUS$102.9bUS$13.7b23.4x30.1x4x
Mon, 08 Jul 2024US$352.4bUS$92.6bUS$12.6b25.2x27.9x3.8x
Wed, 05 Jun 2024US$329.9bUS$92.9bUS$12.7b26.3x26x3.6x
Fri, 03 May 2024US$373.6bUS$104.4bUS$16.1b32.8x23.2x3.6x
Sun, 31 Mar 2024US$404.7bUS$104.8bUS$16.3b31.8x24.9x3.9x
Tue, 27 Feb 2024US$390.0bUS$105.0bUS$16.5b31.9x23.6x3.7x
Thu, 25 Jan 2024US$346.9bUS$96.1bUS$15.1b26.3x22.9x3.6x
Sat, 23 Dec 2023US$329.6bUS$96.1bUS$15.1b25.1x21.8x3.4x
Mon, 20 Nov 2023US$307.6bUS$96.2bUS$14.9b23.1x20.7x3.2x
Wed, 18 Oct 2023US$326.7bUS$94.7bUS$14.6b20.5x22.3x3.4x
Fri, 15 Sep 2023US$338.4bUS$94.7bUS$14.6b29.3x23.1x3.6x
Sun, 13 Aug 2023US$326.4bUS$92.4bUS$13.6b26.4x24.1x3.5x
Tue, 11 Jul 2023US$316.3bUS$91.4bUS$13.5b23.8x23.4x3.5x
Price to Earnings Ratio

23.4x


Total Market Cap: US$316.3bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 35.1x202420252026
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 46.7x which is higher than its 3-year average PE of 35.1x.
  • 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 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 Market1.63%
Tech0.61%
Communications-1.31%
Communications Equipment-1.31%
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
MSI Motorola SolutionsUS$422.664.9%
+US$3.3b		-0.5%PE33.6x
ANET Arista NetworksUS$159.991.5%
+US$3.0b		56.1%PE54.1x
VSAT ViasatUS$83.0634.1%
+US$2.9b		410.2%PS2.4x
FFIV F5US$408.143.4%
+US$767.9m		36.0%PE32.5x
CALX CalixUS$38.488.2%
+US$185.6m		-28.6%PE72.4x

Latest News

GILT
US$12.88
Gilat Satellite Networks
7D
9.1%
1Y
78.6%
DGII
US$72.15
Digi International
7D
2.3%
1Y
100.8%
VISN
US$12.15
Vistance Networks
7D
-3.4%
1Y
40.1%
EXTR
US$29.80
Extreme Networks
7D
-6.1%
1Y
59.4%
ANET
US$159.99
Arista Networks
7D
1.5%
1Y
56.1%
Narrative Update • Jul 02

ANET: Fair Value View Will Weigh AI Networking Demand Against Execution Risk

Arista Networks' analyst price target has been revised higher to $200 from a prior cluster around the mid $180s. This change is supported by analysts citing strong demand signals from AI related networking refresh cycles, clearer views on supply and deferred revenue, and multiple recent target increases, even as some firms trim focus lists or conviction lists for portfolio reasons.
CIEN
US$422.46
Ciena
7D
-11.9%
1Y
419.1%
LITE
US$728.32
Lumentum Holdings
7D
-10.9%
1Y
685.3%
CSCO
US$112.69
Cisco Systems
7D
-0.9%
1Y
62.4%
VSAT
US$83.06
Viasat
7D
34.1%
1Y
410.2%
Narrative Update • Jun 30

VSAT: Spectrum And D2D Upside Will Test Execution Discipline

Analysts have lifted their fair value estimate for Viasat from about $51 to roughly $95, citing higher spectrum valuations, the developing D2D opportunity, and upcoming Viasat-3 milestones as key supports for richer revenue growth, profit margin, and P/E assumptions. Analyst Commentary Recent Street research around Viasat centers on how much value investors assign to its spectrum holdings, the developing direct to device, or D2D, opportunity, and execution on the Viasat 3 constellation.
AAOI
US$120.95
Applied Optoelectronics
7D
-10.9%
1Y
322.0%
CALX
US$38.48
Calix
7D
8.2%
1Y
-28.6%
VIAV
US$41.66
Viavi Solutions
7D
-12.5%
1Y
299.0%
ONDS
US$7.41
Ondas
7D
-5.4%
1Y
300.5%
Narrative Update • Jun 26

ONDS: Autonomous Defense Backlog And Cyberhawk Deal Will Drive Future Upside

Analysts have lifted their Ondas price target from $10.00 to $16.00, citing sector interest following reports of potential U.S. federal funding for drone companies and updated assumptions around revenue growth, profit margins and future P/E levels. What’s in the News for Ondas Ondas reported Q2 2026 orders above US$150 million across defense, security, and autonomous platforms, including C UAS, loitering munitions, ISR systems, UGVs, and robotic defense mechanisms.
MSI
US$422.66
Motorola Solutions
7D
4.9%
1Y
-0.5%
Narrative Update • Jun 26

MSI: Public Safety AI Suites Will Support Future Upside Beyond 2026

Analysts have raised their blended price target for Motorola Solutions to about $507 from roughly $488, reflecting updated views on fair value with only modest adjustments to revenue growth, margin and P/E assumptions. Analyst Commentary Recent Street research on Motorola Solutions reflects a mix of optimism on execution and caution on how much of that story is already reflected in the stock price.
FFIV
US$408.14
F5
7D
3.4%
1Y
36.0%
Narrative Update • Jun 25

FFIV: AI Security And Hybrid Multicloud Demand Will Support Balanced Refresh Outlook

F5's analyst price target has been nudged higher, with the fair value estimate moving from $406.50 to $409.00 as analysts factor in updated assumptions around the discount rate, long term revenue growth, profit margins, and future P/E following a series of price target increases tied to expectations for demand from hybrid multicloud, AI inference workloads, and broader application security needs. Analyst Commentary Recent research on F5 highlights a wide range of views on how much the stock should be worth, with several large firms adjusting their price targets after the company shared long term goals around revenue, earnings power, and demand tied to hybrid multicloud and AI workloads.
AVNW
US$21.17
Aviat Networks
7D
3.4%
1Y
-14.7%
Narrative Update • Jun 22

AVNW: Short Report Scrutiny Will Test Confidence In Long-Term Upside

The analyst price target for Aviat Networks has been revised from $30 to $25 as analysts factor in updated assumptions for revenue growth, profit margins, discount rates, and future P/E expectations. Analyst Commentary Recent Street research around Aviat Networks points to a more cautious tone, with several bearish analysts lowering price targets and reassessing their expectations for the stock.