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U.S. Communications Industry Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies77
  • 7D0.2%
  • 3M4.1%
  • 1Y29.5%
  • YTD29.5%

Over the last 7 days, the Communications industry has remained flat. As for the the longer term, the industry is up 30% over the past 12 months. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 18 May 2023US$287.9bUS$89.8bUS$13.4b24.6x21.4x3.2x
Sat, 15 Apr 2023US$312.4bUS$89.0bUS$13.2b27x23.7x3.5x
Mon, 13 Mar 2023US$298.5bUS$89.0bUS$13.2b27.7x22.7x3.4x
Wed, 08 Feb 2023US$294.2bUS$87.1bUS$13.0b32.1x22.6x3.4x
Fri, 06 Jan 2023US$283.3bUS$86.7bUS$13.0b27.5x21.7x3.3x
Price to Earnings Ratio

21.7x


Total Market Cap: US$283.3bTotal Earnings: US$13.0bTotal Revenue: US$86.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 31.4x20242025
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 40.5x which is higher than its 3-year average PE of 31.4x.
  • The 3-year average PS ratio of 4.4x is lower than the industry's current PS ratio of 6.4x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 8.6% per year over the last three years.
  • Revenues for these companies have grown 6.9% 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 Market-0.18%
Tech-0.17%
Communications0.17%
Communications Equipment0.17%
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$134.152.6%
+US$4.3b		20.4%PE50.3x
CIEN CienaUS$239.001.0%
+US$316.9m		181.1%PE272.9x
CMTL Comtech TelecommunicationsUS$5.2735.5%
+US$40.9m		23.7%PS0.3x
GILT Gilat Satellite NetworksUS$12.903.0%
+US$23.8m		109.8%PE35x
EXTR Extreme NetworksUS$16.920.9%
+US$20.1m		1.1%PE261.6x

Latest News

ONDS
US$8.46
Ondas Holdings
7D
-5.6%
1Y
230.5%
GILT
US$12.90
Gilat Satellite Networks
7D
3.0%
1Y
109.8%

We Ran A Stock Scan For Earnings Growth And Gilat Satellite Networks (NASDAQ:GILT) Passed With Ease

Dec 27
We Ran A Stock Scan For Earnings Growth And Gilat Satellite Networks (NASDAQ:GILT) Passed With Ease
CSCO
US$77.79
Cisco Systems
7D
-0.4%
1Y
31.4%
CLFD
US$29.94
Clearfield
7D
1.0%
1Y
-3.4%

CLFD: BEAD Demand And Buybacks Will Drive Upside Into 2026

Clearfield's analyst price target has been trimmed by a few dollars to a mid 40s range per share, as analysts factor in softer near term guidance tied to divestitures and seasonality, but maintain a constructive long term view supported by BEAD driven demand and expectations for 20 percent plus growth into FY26 and FY27. Analyst Commentary Street research remains constructive on Clearfield despite the recent round of price target cuts, with most analysts emphasizing that softer near term guidance is being weighed against an improving multi year growth outlook as BEAD related funding ramps.
ANET
US$134.15
Arista Networks
7D
2.6%
1Y
20.4%

ANET: AI Networking Demand Will Sustain Premium Multiple Despite Moderating Margins

Analysts have modestly increased their price target on Arista Networks to $171, citing continued AI driven networking demand and solid, though slightly slower, growth and margin profiles that support maintaining a premium valuation. Analyst Commentary Recent Street research reflects a balanced but still constructive view on Arista Networks, with analysts weighing accelerating AI driven demand against slowing growth rates and a rich valuation.
AAOI
US$36.75
Applied Optoelectronics
7D
-9.6%
1Y
-0.3%

AAOI: InP Laser And Transceiver Automation Will Support Structurally Stronger Margins

We raise our fair value estimate for Applied Optoelectronics to $50 from $34, reflecting analysts' higher confidence in the company's laser and transceiver capabilities and structurally stronger margins, even as some caution that the current share price already embeds aggressive growth expectations. Analyst Commentary Bullish analysts point to Applied Optoelectronics' differentiated position in indium phosphide, or InP, laser epitaxy and advanced transceiver manufacturing as key reasons for raising price targets and assigning favorable ratings.
LITE
US$372.61
Lumentum Holdings
7D
-4.4%
1Y
344.4%

LITE: AI Data Center Optics And Switch Demand Will Drive Balanced Outlook

Analysts have lifted their fair value estimate for Lumentum Holdings from $165.00 to $380.00, citing stronger than expected AI driven data center optics demand, accelerating optical circuit switch adoption tied to Google TPU ramps, and improved long term growth visibility despite a slightly lower projected profit margin. Analyst Commentary Bullish analysts remain largely constructive on Lumentum, framing the latest round of price target increases as a response to a strengthening AI infrastructure cycle and the company’s improving execution against its data center roadmap.
CIEN
US$239.00
Ciena
7D
1.0%
1Y
181.1%

CIEN: AI Data Center Tailwinds Will Meet Rising Execution And Cost Risks

Analysts have raised their price target on Ciena by approximately $70 to about $200, reflecting higher expected revenue growth, improved profit margins, and accelerating AI and data center driven optical demand, including benefits from the Nubis acquisition. Analyst Commentary Bullish analysts highlight a broad reset higher in expectations, with multiple firms lifting targets into the $175 to $200 range as conviction grows around Ciena's ability to monetize AI and data center demand while integrating Nubis to enhance its optical portfolio.
VSAT
US$34.67
Viasat
7D
-3.4%
1Y
307.4%
HLIT
US$9.99
Harmonic
7D
0.2%
1Y
-24.5%
MSI
US$377.28
Motorola Solutions
7D
-0.3%
1Y
-18.4%

MSI: Recurring Revenue Mix Will Drive Upside Despite Recent Price Target Trims

Analysts have trimmed their price target on Motorola Solutions by approximately $5 to about $494 per share. The revision reflects slightly higher discount rate assumptions and modest pressure on long term margins, while analysts remain encouraged by resilient revenue growth, recurring revenue mix, and potential upside from deferred government deals in 2026.
CALX
US$53.43
Calix
7D
-4.4%
1Y
53.1%

CALX: Third-Gen AI Platform Will Sustain Beating And Raising Performance

Analysts have lifted their price target on Calix to $85 from $65, citing the company's consistent beat and raise execution, broad based demand, and a strengthening competitive position supported by its next generation platform and agentic artificial intelligence capabilities. Analyst Commentary Bullish analysts highlight that consecutive beat and raise quarters have increased confidence in Calix's execution, supporting the higher price target and a premium multiple versus peers.
CMTL
US$5.27
Comtech Telecommunications
7D
35.5%
1Y
23.7%
UI
US$567.17
Ubiquiti
7D
-1.4%
1Y
69.0%
EXTR
US$16.92
Extreme Networks
7D
0.9%
1Y
1.1%
RBBN
US$2.94
Ribbon Communications
7D
0.3%
1Y
-29.3%