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U.S. Communications Industry Analysis

UpdatedJun 04, 2026
DataAggregated Company Financials
Companies77
  • 7D5.6%
  • 3M38.7%
  • 1Y105.9%
  • YTD57.1%

In the last week, the Communications industry is up 5.6%, with Cisco Systems leading the way, up 5.7%. Meanwhile, Viasat actually underperformed within the industry, shrinking 19% in the last week. In the last 12 months, the industry was up 106%. Earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 04 Jun 2026US$1.1tUS$114.9bUS$20.4b33.1x53.6x9.5x
Sat, 02 May 2026US$934.5bUS$111.5bUS$18.5b35.4x50.4x8.4x
Mon, 30 Mar 2026US$752.2bUS$109.4bUS$18.3b42.6x41.2x6.9x
Wed, 25 Feb 2026US$737.8bUS$108.9bUS$18.1b43x40.7x6.8x
Fri, 23 Jan 2026US$659.1bUS$106.1bUS$16.7b31.3x39.4x6.2x
Sun, 21 Dec 2025US$675.5bUS$106.1bUS$16.7b32x40.4x6.4x
Tue, 18 Nov 2025US$656.3bUS$105.9bUS$16.6b31.6x39.6x6.2x
Thu, 16 Oct 2025US$653.4bUS$103.3bUS$16.0b30.8x40.8x6.3x
Sat, 13 Sep 2025US$652.2bUS$103.3bUS$16.0b27.6x40.8x6.3x
Mon, 11 Aug 2025US$626.7bUS$101.6bUS$14.9b25x42x6.2x
Wed, 09 Jul 2025US$554.0bUS$100.5bUS$14.0b28.7x39.6x5.5x
Fri, 06 Jun 2025US$532.4bUS$105.5bUS$14.3b26.7x37.2x5x
Sun, 04 May 2025US$499.0bUS$103.3bUS$13.1b22.6x38x4.8x
Tue, 01 Apr 2025US$490.0bUS$102.8bUS$12.4b25.8x39.4x4.8x
Thu, 27 Feb 2025US$529.7bUS$104.5bUS$12.3b27.7x43.2x5.1x
Sat, 25 Jan 2025US$588.6bUS$102.4bUS$11.9b26.4x49.3x5.7x
Mon, 23 Dec 2024US$541.1bUS$102.5bUS$12.1b24.8x44.8x5.3x
Wed, 20 Nov 2024US$507.6bUS$102.4bUS$12.1b24.2x41.9x5x
Fri, 18 Oct 2024US$506.7bUS$103.0bUS$12.0b28.5x42.2x4.9x
Sun, 15 Sep 2024US$453.3bUS$103.0bUS$12.0b24.6x37.8x4.4x
Tue, 13 Aug 2024US$410.0bUS$102.9bUS$13.7b23.2x29.9x4x
Thu, 11 Jul 2024US$348.8bUS$92.6bUS$12.6b25.2x27.6x3.8x
Sat, 08 Jun 2024US$328.1bUS$92.7bUS$12.6b27.3x26x3.5x
Mon, 06 May 2024US$325.0bUS$94.4bUS$14.4b28.9x22.6x3.4x
Wed, 03 Apr 2024US$407.8bUS$104.8bUS$16.3b33.8x25.1x3.9x
Fri, 01 Mar 2024US$389.7bUS$104.8bUS$16.4b32.1x23.8x3.7x
Sun, 28 Jan 2024US$349.0bUS$96.0bUS$14.9b27.3x23.4x3.6x
Tue, 26 Dec 2023US$329.6bUS$96.1bUS$15.1b25.1x21.8x3.4x
Thu, 23 Nov 2023US$309.9bUS$96.2bUS$14.9b22.9x20.8x3.2x
Sat, 21 Oct 2023US$317.6bUS$94.7bUS$14.6b20.5x21.7x3.4x
Mon, 18 Sep 2023US$336.4bUS$94.7bUS$14.6b28.3x23x3.6x
Wed, 16 Aug 2023US$326.0bUS$92.4bUS$13.6b26.9x24x3.5x
Fri, 14 Jul 2023US$319.0bUS$91.4bUS$13.5b23.8x23.6x3.5x
Sun, 11 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 53.6x 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 9.5x.
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 7.9% 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 Market0.35%
Tech5.43%
Communications5.60%
Communications Equipment5.60%
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$126.505.7%
+US$26.9b		96.5%PE41.7x
ANET Arista NetworksUS$174.3713.0%
+US$25.3b		83.7%PE59x
CIEN CienaUS$620.376.6%
+US$5.4b		639.5%PE383x
LITE Lumentum HoldingsUS$938.004.0%
+US$2.8b		1,068.4%PE166.2x
FFIV F5US$405.664.5%
+US$987.9m		38.1%PE32.3x

Latest News

CALX
US$38.50
Calix
7D
-6.1%
1Y
-18.6%
AAOI
US$184.07
Applied Optoelectronics
7D
2.4%
1Y
975.8%
GILT
US$15.48
Gilat Satellite Networks
7D
-11.2%
1Y
158.9%
VIAV
US$52.42
Viavi Solutions
7D
-1.2%
1Y
464.3%
CIEN
US$620.37
Ciena
7D
6.6%
1Y
639.5%
ONDS
US$11.61
Ondas
7D
7.5%
1Y
563.4%
Seeking Alpha • 18h

Ondas May Be Just Getting Started

Summary Ondas reported Q1 revenue of $50.1 million, up 1,079% year-over-year, matching its entire FY2025 revenue base. Pro forma backlog surged to $457 million, while Q2-to-date orders exceeded $110 million, supporting revenue visibility. Gross margin expanded to 49% from 35% a year ago as software-driven revenue increasingly complements hardware sales. Management raised FY2026 revenue guidance to at least $390 million, implying approximately 670% annual growth. Elevated cash burn, acquisition integration risks, and roughly 32% short interest remain key concerns for investors. Read the full article on Seeking Alpha
CSCO
US$126.50
Cisco Systems
7D
5.7%
1Y
96.5%
LITE
US$938.00
Lumentum Holdings
7D
4.0%
1Y
1,068.4%
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.
FFIV
US$405.66
F5
7D
4.5%
1Y
38.1%
New Narrative • Jun 02

Hybrid Multicloud Complexity And AI Demand Will Likely Restrain Future Upside

Catalysts About F5 F5 provides application delivery and security solutions that help enterprises run and protect apps and APIs across data centers, public clouds and edge environments. What are the underlying business or industry changes driving this perspective?
EXTR
US$28.79
Extreme Networks
7D
7.9%
1Y
77.5%
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.
VSAT
US$69.62
Viasat
7D
-18.6%
1Y
683.1%
Narrative Update • Jun 01

VSAT: Satellite Deployment And Regulatory Setbacks Will Likely Undercut Spectrum Optimism

Narrative Update The analyst price target for Viasat has moved higher toward a range of $90 to $106. Analysts have pointed to progress on Viasat 3 satellites, the value of the company’s spectrum assets, and growing attention on its Defense & Advanced Technologies business as key reasons for the reassessment.
ADTN
US$17.56
ADTRAN Holdings
7D
-9.5%
1Y
113.9%
ANET
US$174.37
Arista Networks
7D
13.0%
1Y
83.7%
CLFD
US$45.13
Clearfield
7D
-12.0%
1Y
14.7%
HLIT
US$14.66
Harmonic
7D
-14.3%
1Y
56.0%
UI
US$576.13
Ubiquiti
7D
-5.5%
1Y
42.8%