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U.S. Communications Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies77
  • 7D6.0%
  • 3M42.9%
  • 1Y105.1%
  • YTD55.8%

In the last week, the Communications industry is up 6.0%, with Cisco Systems up 9.6%. In the same time, Ciena was down 6.1%. This means that the industry has gained 105% over the past year. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Jun 2026US$1.1tUS$115.3bUS$20.6b32.6x52x9.3x
Sun, 03 May 2026US$940.0bUS$111.5bUS$18.5b35.4x50.7x8.4x
Tue, 31 Mar 2026US$740.6bUS$109.2bUS$18.4b41.6x40.3x6.8x
Thu, 26 Feb 2026US$746.2bUS$108.9bUS$18.1b40.5x41.2x6.9x
Sat, 24 Jan 2026US$676.8bUS$106.1bUS$16.7b31.6x40.5x6.4x
Mon, 22 Dec 2025US$675.5bUS$106.1bUS$16.7b32x40.4x6.4x
Wed, 19 Nov 2025US$648.3bUS$105.9bUS$16.6b30.8x39.1x6.1x
Fri, 17 Oct 2025US$658.8bUS$103.3bUS$16.0b30x41.1x6.4x
Sun, 14 Sep 2025US$631.6bUS$103.3bUS$16.0b27.7x39.5x6.1x
Tue, 12 Aug 2025US$622.3bUS$101.6bUS$14.9b25.1x41.7x6.1x
Thu, 10 Jul 2025US$552.7bUS$100.5bUS$14.0b29.5x39.5x5.5x
Sat, 07 Jun 2025US$533.3bUS$105.7bUS$14.4b27x37.1x5x
Mon, 05 May 2025US$499.0bUS$103.3bUS$13.1b22.6x38x4.8x
Wed, 02 Apr 2025US$493.2bUS$102.8bUS$12.4b26x39.7x4.8x
Fri, 28 Feb 2025US$535.2bUS$104.6bUS$12.2b27.6x43.8x5.1x
Sun, 26 Jan 2025US$588.4bUS$102.4bUS$11.9b26.4x49.3x5.7x
Tue, 24 Dec 2024US$541.1bUS$102.4bUS$12.1b25x44.8x5.3x
Thu, 21 Nov 2024US$508.5bUS$102.5bUS$12.1b24.2x41.9x5x
Sat, 19 Oct 2024US$507.8bUS$103.0bUS$12.0b28.4x42.3x4.9x
Mon, 16 Sep 2024US$453.3bUS$103.0bUS$12.0b24.6x37.8x4.4x
Wed, 14 Aug 2024US$408.4bUS$102.9bUS$13.7b23.9x29.8x4x
Fri, 12 Jul 2024US$350.4bUS$92.6bUS$12.6b26.3x27.8x3.8x
Sun, 09 Jun 2024US$326.0bUS$92.7bUS$12.6b27.3x25.8x3.5x
Tue, 07 May 2024US$326.7bUS$94.4bUS$14.4b29.9x22.8x3.5x
Thu, 04 Apr 2024US$401.5bUS$104.8bUS$16.3b34.2x24.7x3.8x
Sat, 02 Mar 2024US$391.6bUS$104.8bUS$16.4b32.6x23.9x3.7x
Mon, 29 Jan 2024US$349.0bUS$96.0bUS$14.9b27.3x23.4x3.6x
Wed, 27 Dec 2023US$329.6bUS$96.1bUS$15.1b25.1x21.8x3.4x
Fri, 24 Nov 2023US$308.6bUS$96.2bUS$14.9b23x20.7x3.2x
Sun, 22 Oct 2023US$317.6bUS$94.7bUS$14.6b20.5x21.7x3.4x
Tue, 19 Sep 2023US$337.2bUS$94.7bUS$14.6b28x23x3.6x
Thu, 17 Aug 2023US$323.5bUS$92.4bUS$13.6b26.2x23.8x3.5x
Sat, 15 Jul 2023US$311.3bUS$91.4bUS$13.5b23.8x23x3.4x
Mon, 12 Jun 2023US$308.4bUS$91.4bUS$13.5b21.4x22.8x3.4x
Price to Earnings Ratio

22.8x


Total Market Cap: US$308.4bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.4x202420252026
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 52.0x which is higher than its 3-year average PE of 34.4x.
  • The 3-year average PS ratio of 4.9x is lower than the industry's current PS ratio of 9.3x.
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 Market-0.11%
Tech2.80%
Communications5.96%
Communications Equipment5.96%
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$130.009.6%
+US$44.8b		101.2%PE42.8x
ANET Arista NetworksUS$166.016.9%
+US$13.5b		74.4%PE56.2x
LITE Lumentum HoldingsUS$945.089.8%
+US$6.6b		1,057.6%PE167.5x
AAOI Applied OptoelectronicsUS$202.8920.0%
+US$2.7b		1,147.8%PS32.1x
FFIV F5US$408.666.6%
+US$1.4b		39.0%PE32.6x

Latest News

MSI
US$410.72
Motorola Solutions
7D
-0.2%
1Y
-1.3%
CIEN
US$535.63
Ciena
7D
-6.1%
1Y
633.2%
VSAT
US$72.93
Viasat
7D
-15.9%
1Y
699.7%
ONDS
US$11.97
Ondas
7D
-9.7%
1Y
657.6%
FFIV
US$408.66
F5
7D
6.6%
1Y
39.0%
Narrative Update • Jun 04

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

Analysts have lifted the F5 price target to $406.50 from $337.40, pointing to the company's updated mid term outlook for application delivery and security demand tied to hybrid multicloud adoption and AI driven workloads as key support for the higher valuation. Analyst Commentary Recent research points to a broadly constructive tone around F5, with multiple firms revising price targets higher after the recent investor day and updated mid term outlook.
NTCT
US$42.20
NetScout Systems
7D
1.7%
1Y
81.7%
Narrative Update • Jun 04

NTCT: Raised Fair Value And Guidance Will Likely Cap Future Share Returns

Analysts have raised their fair value estimate for NetScout Systems by about $9.86 to $37.13, citing updated assumptions around revenue growth, profit margins, discount rates, and future P/E that are consistent with recent price target changes, including the $9 increase from RBC Capital. What's in the News On May 28, 2026, the audit committee dismissed PricewaterhouseCoopers as the independent registered public accounting firm and appointed KPMG as the new auditor for the fiscal year ending March 31, 2027.
CALX
US$38.34
Calix
7D
-4.2%
1Y
-19.3%
AAOI
US$202.89
Applied Optoelectronics
7D
20.0%
1Y
1,147.8%
VIAV
US$53.21
Viavi Solutions
7D
9.7%
1Y
471.5%
Narrative Update • Jun 03

VIAV: AI Data Center Demand And Defense Ties Will Drive Future Upside

Viavi Solutions' analyst price target has been raised by $24.00, with analysts pointing to updated fair value estimates, higher modeled revenue growth and a richer assumed future P/E multiple, even as they temper profit margin expectations and slightly increase the discount rate. Analyst Commentary Recent research points to a cluster of higher price targets for Viavi Solutions, with several firms revisiting their models and adjusting assumptions on growth, profitability and valuation multiples.
GILT
US$15.97
Gilat Satellite Networks
7D
-10.4%
1Y
172.5%
CSCO
US$130.00
Cisco Systems
7D
9.6%
1Y
101.2%
ANET
US$166.01
Arista Networks
7D
6.9%
1Y
74.4%
Narrative Update • Jun 03

ANET: AI Ethernet Clusters And XPO Optics Will Drive Future Networking Upside

Analysts lifted their fair value estimate for Arista Networks by about $5 to $212.88, citing refreshed price targets across the Street and growing focus on the company's role in AI driven data center and campus networking workloads. Analyst Commentary Bullish analysts are leaning into the AI driven networking theme around Arista Networks, pointing to refreshed price targets and upgrades as support for higher fair value estimates.
LITE
US$945.08
Lumentum Holdings
7D
9.8%
1Y
1,057.6%
New Narrative • Jun 03

Lumentum: An AI-Fueled Recovery That Has Not Yet Earned Its $74 Billion Tag

I. Industry and Business Model Analysis Lumentum is a photonics manufacturer — it designs and produces the lasers, optical chips, modules, and subsystems that move data through fiber-optic networks.
EXTR
US$29.61
Extreme Networks
7D
13.0%
1Y
81.0%
Narrative Update • Jun 01

EXTR: AI Platform Adoption And Execution Will Shape Balanced Risk Reward Profile

Narrative Update on Extreme Networks The updated analyst price target for Extreme Networks moves from $24.31 to $26.06, with analysts pointing to refreshed fair value estimates and revised assumptions for discount rate and future P/E as key drivers of the change. Analyst Commentary Recent Street research on Extreme Networks centers on revised price targets, with several firms adjusting their fair value views and underlying assumptions for discount rates and future P/E levels.
HLIT
US$14.61
Harmonic
7D
-14.1%
1Y
56.8%
UI
US$581.30
Ubiquiti
7D
-2.3%
1Y
44.5%