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U.S. Communications Industry Analysis

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies78
  • 7D1.7%
  • 3M27.5%
  • 1Y94.0%
  • YTD46.1%

In the last week, the Communications industry is up 1.1%, with Arista Networks up 8.1%. This takes the industry's 12 month performance to a gain of 93%. Looking forward, 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
Wed, 17 Jun 2026US$1.0tUS$115.3bUS$20.6b32.1x49.1x8.8x
Fri, 15 May 2026US$929.0bUS$114.7bUS$19.8b31.7x46.9x8.1x
Sun, 12 Apr 2026US$839.0bUS$109.2bUS$18.4b45x45.6x7.7x
Tue, 10 Mar 2026US$737.7bUS$109.3bUS$18.4b39.9x40.1x6.7x
Thu, 05 Feb 2026US$731.2bUS$106.6bUS$16.8b31x43.4x6.9x
Sat, 03 Jan 2026US$672.0bUS$106.1bUS$16.7b36.4x40.2x6.3x
Mon, 01 Dec 2025US$661.3bUS$105.8bUS$16.6b31.6x39.8x6.2x
Wed, 29 Oct 2025US$686.1bUS$103.4bUS$16.0b30.9x42.8x6.6x
Fri, 26 Sep 2025US$637.0bUS$103.3bUS$16.0b30x39.8x6.2x
Sun, 24 Aug 2025US$606.6bUS$103.1bUS$16.2b25.5x37.4x5.9x
Tue, 22 Jul 2025US$566.4bUS$100.5bUS$14.0b28.5x40.5x5.6x
Thu, 19 Jun 2025US$526.7bUS$105.7bUS$14.3b26.6x36.7x5x
Sat, 17 May 2025US$534.6bUS$105.5bUS$14.5b25.8x36.9x5.1x
Mon, 14 Apr 2025US$463.5bUS$102.8bUS$12.4b24.8x37.3x4.5x
Wed, 12 Mar 2025US$490.1bUS$103.1bUS$12.4b25.7x39.7x4.8x
Fri, 07 Feb 2025US$572.4bUS$102.5bUS$12.2b26x46.8x5.6x
Sun, 05 Jan 2025US$544.6bUS$102.4bUS$12.1b24.5x45x5.3x
Tue, 03 Dec 2024US$531.7bUS$102.5bUS$12.1b24.9x43.9x5.2x
Thu, 31 Oct 2024US$500.4bUS$103.0bUS$12.0b24.3x41.7x4.9x
Sat, 28 Sep 2024US$479.4bUS$103.0bUS$12.0b26.4x40x4.7x
Mon, 26 Aug 2024US$455.5bUS$103.1bUS$12.0b28.5x38.1x4.4x
Wed, 24 Jul 2024US$347.5bUS$92.6bUS$12.6b27.2x27.6x3.8x
Fri, 21 Jun 2024US$340.3bUS$92.7bUS$12.6b26.4x27x3.7x
Sun, 19 May 2024US$344.9bUS$92.4bUS$12.7b27.3x27.1x3.7x
Tue, 16 Apr 2024US$388.2bUS$104.8bUS$16.3b33x23.9x3.7x
Thu, 14 Mar 2024US$400.9bUS$104.8bUS$16.3b32.7x24.5x3.8x
Sat, 10 Feb 2024US$400.6bUS$105.5bUS$16.5b29.6x24.3x3.8x
Mon, 08 Jan 2024US$326.6bUS$96.1bUS$15.1b25x21.6x3.4x
Wed, 06 Dec 2023US$311.5bUS$96.0bUS$14.9b25x20.9x3.2x
Fri, 03 Nov 2023US$321.6bUS$95.0bUS$14.8b23.2x21.8x3.4x
Sun, 01 Oct 2023US$325.4bUS$94.7bUS$14.6b24.6x22.2x3.4x
Tue, 29 Aug 2023US$334.6bUS$94.5bUS$14.6b29.4x22.9x3.5x
Thu, 27 Jul 2023US$325.1bUS$91.5bUS$13.5b26.1x24.1x3.6x
Sat, 24 Jun 2023US$306.1bUS$91.4bUS$13.5b23.6x22.7x3.3x
Price to Earnings Ratio

22.7x


Total Market Cap: US$306.1bTotal Earnings: US$13.5bTotal Revenue: US$91.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 34.7x202420252026
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 49.0x which is higher than its 3-year average PE of 34.7x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 8.8x.
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 Market2.32%
Tech3.34%
Communications1.75%
Communications Equipment1.75%
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$168.0110.4%
+US$20.0b		87.3%PE56.9x
LITE Lumentum HoldingsUS$875.362.6%
+US$1.7b		889.6%PE155.1x
VIAV Viavi SolutionsUS$50.107.9%
+US$899.2m		441.6%PS9x
AAOI Applied OptoelectronicsUS$170.814.9%
+US$636.3m		917.9%PS27x
EXTR Extreme NetworksUS$31.519.7%
+US$363.6m		90.2%PE253.2x

Latest News

CMTL
US$2.99
Comtech Telecommunications
7D
-30.3%
1Y
44.4%
CIEN
US$430.30
Ciena
7D
-2.1%
1Y
485.8%
CSCO
US$119.57
Cisco Systems
7D
-0.7%
1Y
83.0%
Analysis Article • 10h

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$68.80
Digi International
7D
6.9%
1Y
106.5%
LITE
US$875.36
Lumentum Holdings
7D
2.6%
1Y
889.6%
VISN
US$12.61
Vistance Networks
7D
3.9%
1Y
121.2%
VIAV
US$50.10
Viavi Solutions
7D
7.9%
1Y
441.6%
VSAT
US$62.45
Viasat
7D
-2.3%
1Y
374.5%
EXTR
US$31.51
Extreme Networks
7D
9.7%
1Y
90.2%
ANET
US$168.01
Arista Networks
7D
10.4%
1Y
87.3%
FFIV
US$388.85
F5
7D
-0.5%
1Y
35.7%
ONDS
US$9.21
Ondas
7D
-4.6%
1Y
490.4%
AAOI
US$170.81
Applied Optoelectronics
7D
4.9%
1Y
917.9%
MSI
US$404.93
Motorola Solutions
7D
-2.2%
1Y
-0.4%
HLIT
US$14.80
Harmonic
7D
9.6%
1Y
68.4%
Narrative Update • Jun 04

HLIT: Broadband Focus And Share Buybacks Will Support Stronger Future Cash Returns

Harmonic's fair value estimate has been raised from $17.00 to $20.00 as analysts factor in updated assumptions on revenue growth, profitability, discount rates and future P/E, following a series of higher price targets from firms including Northland, Needham, Rosenblatt, Barclays and Jefferies. Analyst Commentary Bullish analysts are clustering around higher price targets for Harmonic, with recent moves ranging from US$1 to US$5 increases across several research updates.
UI
US$558.16
Ubiquiti
7D
-1.0%
1Y
47.2%