Harmonic's (NASDAQ:HLIT) Soft Earnings Don't Show The Whole Picture
May 08
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U.S. Communications Industry Analysis
UpdatedMay 19, 2025
DataAggregated Company Financials
Companies78
- 7D4.8%
- 3M-3.9%
- 1Y30.3%
- YTD-0.3%
In the last week, the Communications industry is up 4.8%, with Cisco Systems up 3.6%. This takes the industry's 12 month performance to a gain of 30%. Looking forward, earnings are forecast to grow by 15% annually.
Industry Valuation and Performance
Has the U.S. Communications Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 20 May 2025 | US$536.0b | US$105.5b | US$14.5b | 25.8x | 37x | 5.1x |
| Thu, 17 Apr 2025 | US$466.0b | US$102.8b | US$12.4b | 24.1x | 37.5x | 4.5x |
| Sat, 15 Mar 2025 | US$483.2b | US$103.1b | US$12.4b | 25.4x | 39.1x | 4.7x |
| Mon, 10 Feb 2025 | US$572.3b | US$102.7b | US$12.3b | 25.6x | 46.6x | 5.6x |
| Wed, 08 Jan 2025 | US$549.6b | US$102.4b | US$12.1b | 24.6x | 45.4x | 5.4x |
| Fri, 06 Dec 2024 | US$539.6b | US$102.5b | US$12.1b | 24.8x | 44.5x | 5.3x |
| Sun, 03 Nov 2024 | US$496.3b | US$102.8b | US$12.1b | 23.8x | 41.1x | 4.8x |
| Tue, 01 Oct 2024 | US$477.1b | US$103.0b | US$12.0b | 25.7x | 39.8x | 4.6x |
| Thu, 29 Aug 2024 | US$452.0b | US$103.1b | US$12.0b | 26.5x | 37.8x | 4.4x |
| Sat, 27 Jul 2024 | US$340.3b | US$92.3b | US$12.2b | 27.6x | 27.9x | 3.7x |
| Mon, 24 Jun 2024 | US$345.1b | US$92.7b | US$12.6b | 26.5x | 27.3x | 3.7x |
| Wed, 22 May 2024 | US$340.7b | US$92.4b | US$12.7b | 27.3x | 26.8x | 3.7x |
| Fri, 19 Apr 2024 | US$379.9b | US$104.8b | US$16.3b | 30.2x | 23.4x | 3.6x |
| Sun, 17 Mar 2024 | US$393.9b | US$104.8b | US$16.3b | 31.7x | 24.1x | 3.8x |
| Tue, 13 Feb 2024 | US$398.3b | US$105.5b | US$16.5b | 29.7x | 24.1x | 3.8x |
| Thu, 11 Jan 2024 | US$333.1b | US$96.1b | US$15.1b | 25.3x | 22x | 3.5x |
| Sat, 09 Dec 2023 | US$312.1b | US$96.1b | US$15.1b | 25.2x | 20.7x | 3.2x |
| Mon, 06 Nov 2023 | US$327.1b | US$94.9b | US$14.7b | 23.1x | 22.2x | 3.4x |
| Wed, 04 Oct 2023 | US$329.2b | US$94.7b | US$14.6b | 28.5x | 22.5x | 3.5x |
| Fri, 01 Sep 2023 | US$349.3b | US$94.7b | US$14.6b | 31.1x | 23.9x | 3.7x |
| Sun, 30 Jul 2023 | US$320.8b | US$91.6b | US$13.4b | 24.4x | 23.9x | 3.5x |
| Tue, 27 Jun 2023 | US$306.2b | US$91.4b | US$13.5b | 23.6x | 22.7x | 3.3x |
| Thu, 25 May 2023 | US$293.7b | US$91.2b | US$13.5b | 23.1x | 21.8x | 3.2x |
| Sat, 22 Apr 2023 | US$292.1b | US$89.1b | US$13.2b | 25.1x | 22.2x | 3.3x |
| Mon, 20 Mar 2023 | US$310.0b | US$89.0b | US$13.1b | 23.9x | 23.6x | 3.5x |
| Wed, 15 Feb 2023 | US$296.8b | US$87.6b | US$13.1b | 29.7x | 22.7x | 3.4x |
| Fri, 13 Jan 2023 | US$296.7b | US$86.7b | US$13.0b | 27x | 22.8x | 3.4x |
| Sun, 11 Dec 2022 | US$297.8b | US$86.7b | US$13.0b | 29.7x | 22.8x | 3.4x |
| Tue, 08 Nov 2022 | US$282.1b | US$85.7b | US$13.6b | 24.1x | 20.8x | 3.3x |
| Thu, 06 Oct 2022 | US$267.3b | US$84.9b | US$13.5b | 24.1x | 19.9x | 3.1x |
| Sat, 03 Sep 2022 | US$278.3b | US$85.2b | US$13.4b | 23.1x | 20.7x | 3.3x |
| Mon, 01 Aug 2022 | US$285.6b | US$84.8b | US$13.9b | 22.1x | 20.5x | 3.4x |
| Wed, 29 Jun 2022 | US$265.9b | US$84.6b | US$14.0b | 21.7x | 19x | 3.1x |
| Fri, 27 May 2022 | US$271.3b | US$84.5b | US$14.1b | 22.1x | 19.3x | 3.2x |
Price to Earnings Ratio
19.3x
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 37.0x which is higher than its 3-year average PE of 27.5x.
- The 3-year average PS ratio of 3.8x is lower than the industry's current PS ratio of 5.1x.
Past Earnings Growth
- The earnings for companies in the Communications industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 7.7% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the U.S. Tech industry?
| US Market | 2.94% | |
| Tech | 5.81% | |
| Communications | 4.82% | |
| Communications Equipment | 4.82% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CSCO Cisco Systems | US$63.92 | 3.6% +US$9.0b | 35.6% | PE26x | |
| ANET Arista Networks | US$96.70 | 4.7% +US$5.5b | 21.1% | PE40.1x | |
| MSI Motorola Solutions | US$425.29 | 3.0% +US$2.1b | 15.4% | PE34.7x | |
| LITE Lumentum Holdings | US$77.87 | 8.6% +US$426.1m | 65.0% | PS3.7x | |
| FFIV F5 | US$285.70 | 1.9% +US$307.3m | 64.0% | PE26.4x |