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U.S. Communications Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies78
  • 7D-1.3%
  • 3M26.7%
  • 1Y92.9%
  • YTD45.7%

Over the last 7 days, the Communications industry has dropped 1.3%, driven by pullbacks in Cisco Systems and Lumentum Holdings of 1.3% and 7.8%, respectively. Over the past 12 months, the industry was up 93%. 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
Mon, 22 Jun 2026US$996.8bUS$115.3bUS$20.6b31.3x48.4x8.6x
Wed, 20 May 2026US$974.2bUS$114.8bUS$20.2b30.6x48.2x8.5x
Fri, 17 Apr 2026US$846.8bUS$109.2bUS$18.4b47.6x46.1x7.8x
Sun, 15 Mar 2026US$752.4bUS$109.3bUS$18.4b41.9x40.9x6.9x
Tue, 10 Feb 2026US$753.6bUS$106.8bUS$17.2b33.2x43.7x7.1x
Thu, 08 Jan 2026US$676.7bUS$106.1bUS$16.7b39.5x40.5x6.4x
Sat, 06 Dec 2025US$660.9bUS$105.8bUS$16.6b32.2x39.8x6.2x
Mon, 03 Nov 2025US$689.8bUS$103.8bUS$16.0b32x43.2x6.6x
Wed, 01 Oct 2025US$642.0bUS$103.3bUS$16.0b29.8x40.1x6.2x
Fri, 29 Aug 2025US$614.3bUS$103.0bUS$16.2b26.3x37.8x6x
Sun, 27 Jul 2025US$572.8bUS$100.6bUS$14.0b28.6x40.9x5.7x
Tue, 24 Jun 2025US$540.7bUS$105.7bUS$14.3b27.3x37.7x5.1x
Thu, 22 May 2025US$532.2bUS$105.5bUS$14.5b25.7x36.8x5x
Sat, 19 Apr 2025US$454.4bUS$102.8bUS$12.4b24.1x36.5x4.4x
Mon, 17 Mar 2025US$493.9bUS$103.1bUS$12.4b25.4x39.9x4.8x
Wed, 12 Feb 2025US$575.8bUS$102.7bUS$12.2b26.5x47x5.6x
Fri, 10 Jan 2025US$547.3bUS$102.4bUS$12.1b24.2x45.2x5.3x
Sun, 08 Dec 2024US$543.0bUS$102.5bUS$12.1b24.8x44.8x5.3x
Tue, 05 Nov 2024US$496.3bUS$102.8bUS$12.0b23.7x41.2x4.8x
Thu, 03 Oct 2024US$479.7bUS$102.9bUS$12.0b24.6x40x4.7x
Sat, 31 Aug 2024US$452.7bUS$103.1bUS$12.0b27.2x37.8x4.4x
Mon, 29 Jul 2024US$345.5bUS$92.3bUS$12.2b27.6x28.4x3.7x
Wed, 26 Jun 2024US$342.0bUS$92.7bUS$12.6b26.3x27.1x3.7x
Fri, 24 May 2024US$339.5bUS$92.9bUS$12.7b27.3x26.8x3.7x
Sun, 21 Apr 2024US$377.1bUS$104.8bUS$16.3b30.1x23.2x3.6x
Tue, 19 Mar 2024US$398.0bUS$104.8bUS$16.3b31.4x24.4x3.8x
Thu, 15 Feb 2024US$390.5bUS$105.8bUS$16.7b29.8x23.4x3.7x
Sat, 13 Jan 2024US$337.3bUS$96.1bUS$15.1b25.1x22.3x3.5x
Mon, 11 Dec 2023US$315.5bUS$96.1bUS$15.1b25.2x20.9x3.3x
Wed, 08 Nov 2023US$328.1bUS$94.9bUS$14.7b23.4x22.4x3.5x
Fri, 06 Oct 2023US$320.9bUS$94.7bUS$14.6b23.3x21.9x3.4x
Sun, 03 Sep 2023US$351.9bUS$94.7bUS$14.6b31x24x3.7x
Tue, 01 Aug 2023US$314.5bUS$91.6bUS$13.4b24.4x23.4x3.4x
Thu, 29 Jun 2023US$311.4bUS$91.4bUS$13.5b23.6x23.1x3.4x
Price to Earnings Ratio

23.1x


Total Market Cap: US$311.4bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.8x202420252026
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 48.4x which is higher than its 3-year average PE of 34.8x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.6x.
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 Market1.40%
Tech3.29%
Communications-1.28%
Communications Equipment-1.28%
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
UI UbiquitiUS$589.462.6%
+US$890.9m		51.6%PE37.9x
ANET Arista NetworksUS$169.670.3%
+US$730.3m		84.5%PE57.4x
KVHI KVH IndustriesUS$9.6411.8%
+US$19.9m		77.2%PS1.6x
AVNW Aviat NetworksUS$20.043.5%
+US$8.7m		-11.3%PE28.8x
CLFD ClearfieldUS$40.450.9%
+US$4.9m		-3.0%PE166x

Latest News

CIEN
US$428.22
Ciena
7D
-7.6%
1Y
467.6%
FFIV
US$385.49
F5
7D
-2.7%
1Y
34.3%
Analysis Article • 12h

F5 (FFIV) Stock Could Be 5.2% Below Fair Value as Software Growth Narrative Builds

Recent Performance Snapshot for F5 Stock F5 (FFIV) has drawn investor attention after recent trading left the stock at a last close of US$385.49, with performance mixed over shorter horizons but stronger over the past 3 years and 5 years. See our latest analysis for F5. Over the past year F5 has seen a strong shift in sentiment, with the 1-year total shareholder return of 34.26% and 3-year total shareholder return of 166.87% pointing to building momentum despite some recent share price...
ANET
US$169.67
Arista Networks
7D
0.3%
1Y
84.5%
Analysis Article • Jun 21

Arista Networks (ANET) Stock Could Be 10.7% Undervalued As AI Networking Demand Builds

Fresh research commentary on Arista Networks (ANET) is drawing investor focus to the company’s role in high-speed networking for AI and cloud data centers, as customers increasingly weigh best-of-breed options over bundled solutions. See our latest analysis for Arista Networks. Against this backdrop, Arista Networks’ share price has gathered momentum, with a 10.15% 1‑month share price return and 24.87% 3‑month share price return. Its 1‑year total shareholder return of 96.72% points to...
MSI
US$395.17
Motorola Solutions
7D
-4.0%
1Y
-3.8%
VIAV
US$47.17
Viavi Solutions
7D
-11.8%
1Y
401.8%
LITE
US$850.00
Lumentum Holdings
7D
-11.2%
1Y
853.3%
Analysis Article • Jun 18

Lumentum Holdings (LITE) Stock Could Be 82.9% Undervalued If Turnaround Hopes Hold

Lumentum Holdings (LITE) has recently drawn investor attention after a period where the stock is up about 1.9% over the past week but down roughly 1.7% over the past month. See our latest analysis for Lumentum Holdings. Zooming out, Lumentum Holdings’ recent 7 day share price gain sits against a 90 day share price return of 12.67% and a very large 1 year total shareholder return. This suggests that momentum has been building over time as investors reassess its growth prospects and risk...
AAOI
US$161.85
Applied Optoelectronics
7D
-15.5%
1Y
617.1%
Analysis Article • Jun 17

Applied Optoelectronics (AAOI) Stock Could Be 119% Overvalued After AI Optics Rally

Applied Optoelectronics (AAOI) stock is back in focus after a series of AI related catalysts, including a Texas manufacturing expansion, stronger QuantumLink software ties with Spectrum, and public support for optics from Nvidia’s CEO. See our latest analysis for Applied Optoelectronics. After surging on AI infrastructure enthusiasm and the expanded QuantumLink deal with Spectrum, Applied Optoelectronics’ share price has recently pulled back, with a 1-day share price return of 10.83% down and...
CSCO
US$119.54
Cisco Systems
7D
-1.3%
1Y
80.2%
Analysis Article • Jun 16

Cisco Systems (CSCO) Stock Could Be 8.7% Overvalued After New AI Partnerships

Cisco Systems (CSCO) has moved back into the spotlight after new AI focused alliances with Equinix and NVIDIA, alongside the Cisco Cloud Control launch, recast the stock as an enterprise AI infrastructure partner. See our latest analysis for Cisco Systems. Despite a small 0.8% decline in the latest session, Cisco Systems’ recent AI partnerships and product launches have coincided with a 51.6% 90 day share price return and a 160.71% 5 year total shareholder return, indicating strong momentum...
DGII
US$69.06
Digi International
7D
0.1%
1Y
103.1%
VSAT
US$64.13
Viasat
7D
-8.6%
1Y
397.5%
Narrative Update • Jun 16

VSAT: Regulatory Delays On New Satellites Will Likely Cap Stock Upside

The analyst price target for Viasat has shifted from $48.00 to $49.00, reflecting analyst views that recent sector-wide target increases, along with the emphasis on the value of Viasat's spectrum assets, defense technology operations, and upcoming Viasat-3 milestones, support a slightly higher fair value estimate. Analyst Commentary Recent research coverage on Viasat highlights a wide range of price targets, with several firms publishing higher numbers that cluster in the US$90 to US$106 range.
ADTN
US$15.18
ADTRAN Holdings
7D
0.3%
1Y
79.4%
SILC
US$46.95
Silicom
7D
1.1%
1Y
213.2%
CLFD
US$40.45
Clearfield
7D
0.9%
1Y
-3.0%
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.
KVHI
US$9.64
KVH Industries
7D
11.8%
1Y
77.2%
AVNW
US$20.04
Aviat Networks
7D
3.5%
1Y
-11.3%
Narrative Update • Jun 05

AVNW: Short Report Dislocation Will Be Resolved By Fiscal 2026 Execution Confidence

Aviat Networks' analyst price target has been trimmed by about $1, as analysts factor in more moderate assumptions for revenue growth and profit margins, along with a higher expected future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts highlight prior support for Aviat Networks even after a short report, pointing to confidence in the business model and the stock's longer term potential despite near term volatility.
UI
US$589.46
Ubiquiti
7D
2.6%
1Y
51.6%