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U.S. Communications Industry Analysis

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies76
  • 7D-2.0%
  • 3M13.7%
  • 1Y60.3%
  • YTD10.8%

Over the last 7 days, the Communications industry has dropped 2.0%, driven by Cisco Systems declining 2.8%. In contrast, Ciena has gained 13%. Over the past 12 months, the industry was up 60%. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026US$762.0bUS$109.3bUS$18.4b41.9x41.5x7x
Sun, 08 Feb 2026US$745.5bUS$106.8bUS$17.2b32.8x43.3x7x
Tue, 06 Jan 2026US$676.3bUS$106.1bUS$16.7b38.8x40.4x6.4x
Thu, 04 Dec 2025US$658.7bUS$105.8bUS$16.6b31.5x39.7x6.2x
Sat, 01 Nov 2025US$692.9bUS$103.8bUS$16.0b32x43.4x6.7x
Mon, 29 Sep 2025US$638.4bUS$103.3bUS$16.0b30.2x39.9x6.2x
Wed, 27 Aug 2025US$606.4bUS$103.1bUS$16.2b25.9x37.3x5.9x
Fri, 25 Jul 2025US$570.2bUS$100.6bUS$14.0b28.6x40.7x5.7x
Sun, 22 Jun 2025US$529.4bUS$105.7bUS$14.3b26.8x36.9x5x
Tue, 20 May 2025US$536.0bUS$105.5bUS$14.5b26x37x5.1x
Thu, 17 Apr 2025US$466.0bUS$102.8bUS$12.4b24.1x37.5x4.5x
Sat, 15 Mar 2025US$483.2bUS$103.1bUS$12.4b25.4x39.1x4.7x
Mon, 10 Feb 2025US$572.3bUS$102.7bUS$12.3b25.6x46.6x5.6x
Wed, 08 Jan 2025US$549.6bUS$102.4bUS$12.1b24.6x45.4x5.4x
Fri, 06 Dec 2024US$539.6bUS$102.5bUS$12.1b24.8x44.5x5.3x
Sun, 03 Nov 2024US$496.3bUS$102.8bUS$12.1b23.8x41.1x4.8x
Tue, 01 Oct 2024US$477.1bUS$103.0bUS$12.0b25.7x39.8x4.6x
Thu, 29 Aug 2024US$452.0bUS$103.1bUS$12.0b26.5x37.8x4.4x
Sat, 27 Jul 2024US$340.3bUS$92.3bUS$12.2b27.6x27.9x3.7x
Mon, 24 Jun 2024US$345.1bUS$92.7bUS$12.6b26.5x27.3x3.7x
Wed, 22 May 2024US$340.7bUS$92.4bUS$12.7b27.3x26.8x3.7x
Fri, 19 Apr 2024US$379.9bUS$104.8bUS$16.3b30.2x23.4x3.6x
Sun, 17 Mar 2024US$393.9bUS$104.8bUS$16.3b31.7x24.1x3.8x
Tue, 13 Feb 2024US$398.3bUS$105.5bUS$16.5b29.7x24.1x3.8x
Thu, 11 Jan 2024US$333.1bUS$96.1bUS$15.1b25.3x22x3.5x
Sat, 09 Dec 2023US$312.1bUS$96.1bUS$15.1b25.2x20.7x3.2x
Mon, 06 Nov 2023US$327.1bUS$94.9bUS$14.7b23.1x22.2x3.4x
Wed, 04 Oct 2023US$329.2bUS$94.7bUS$14.6b28.5x22.5x3.5x
Fri, 01 Sep 2023US$349.3bUS$94.7bUS$14.6b31.1x23.9x3.7x
Sun, 30 Jul 2023US$320.8bUS$91.6bUS$13.4b24.4x23.9x3.5x
Tue, 27 Jun 2023US$306.2bUS$91.4bUS$13.5b23.6x22.7x3.3x
Thu, 25 May 2023US$293.7bUS$91.2bUS$13.5b23.1x21.8x3.2x
Sat, 22 Apr 2023US$292.1bUS$89.1bUS$13.2b25.1x22.2x3.3x
Mon, 20 Mar 2023US$310.0bUS$89.0bUS$13.1b23.9x23.6x3.5x
Price to Earnings Ratio

23.6x


Total Market Cap: US$310.0bTotal Earnings: US$13.1bTotal Revenue: US$89.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Communications Industry Price to Earnings3Y Average 32.6x202420252026
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 41.5x which is higher than its 3-year average PE of 32.6x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 7.0x.
Past Earnings Growth
  • The earnings for companies in the Communications industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 7.1% 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-2.29%
Tech-0.72%
Communications-2.02%
Communications Equipment-2.02%
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
CIEN CienaUS$336.8312.5%
+US$5.3b		440.6%PE207.9x
AAOI Applied OptoelectronicsUS$106.195.0%
+US$379.8m		569.1%PS17.5x
VSAT ViasatUS$46.512.2%
+US$133.1m		395.8%PS1.4x
KVHI KVH IndustriesUS$7.4524.2%
+US$28.4m		44.9%PS1.3x
GILT Gilat Satellite NetworksUS$16.860.8%
+US$10.2m		143.1%PE59.5x

Latest News

MSI
US$462.63
Motorola Solutions
7D
-1.0%
1Y
11.7%
VIAV
US$29.76
Viavi Solutions
7D
-4.0%
1Y
175.8%
ANET
US$134.03
Arista Networks
7D
-3.9%
1Y
67.2%
ONDS
US$10.33
Ondas
7D
-1.5%
1Y
1,426.5%
CIEN
US$336.83
Ciena
7D
12.5%
1Y
440.6%
KVHI
US$7.45
KVH Industries
7D
24.2%
1Y
44.9%
GILT
US$16.86
Gilat Satellite Networks
7D
0.8%
1Y
143.1%

GILT: Reaffirmed Outlook Will Rely On Defense And 5G NTN Execution

Analysts reaffirmed their $19.00 price target on Gilat Satellite Networks, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E that are consistent with a recent upgrade in Street research. Analyst Commentary Bullish Takeaways Bullish analysts view the reaffirmed US$19.00 target as consistent with updated assumptions on discount rates and future P/E, which they see as better aligned with current sector benchmarks.
LTRX
US$6.17
Lantronix
7D
4.2%
1Y
137.3%
CSCO
US$77.74
Cisco Systems
7D
-2.8%
1Y
30.3%

CSCO: AI Data Center Demand Will Support Earnings Despite Margin Headwinds

Our updated Cisco Systems narrative keeps fair value unchanged but reflects a modestly lower discount rate and slightly lower future P/E assumption. This aligns with recent analyst moves that include a downgrade on margin concerns, alongside several $5 price target increases tied to long term growth expectations.
LITE
US$616.09
Lumentum Holdings
7D
-5.3%
1Y
921.9%

LITE: AI Optics Commitments And Nvidia Backing Will Test Execution

Our fair value estimate for Lumentum has been raised from $571.45 to $655.55, reflecting analysts' higher price targets that are tied to increased earnings power expectations and long term purchase commitments from large customers in advanced optical components. Analyst Commentary Recent Street research on Lumentum points to a cluster of higher price targets and fresh long term commitments from large customers, especially in advanced optical components tied to AI data centers.
AAOI
US$106.19
Applied Optoelectronics
7D
5.0%
1Y
569.1%

AAOI: Amazon Reliance And Unproven 800G Ramp Will Restrain Future Returns

Analysts have sharply raised their price targets on Applied Optoelectronics, with one increase from $15 to $54. They cite continued strength in 400G products and the expectation that 800G will begin contributing incremental growth from Q2, particularly supported by firm demand from a key customer such as Amazon.
OCC
US$7.49
Optical Cable
7D
17.4%
1Y
131.9%
INSG
US$11.70
Inseego
7D
3.5%
1Y
28.7%
CALX
US$49.77
Calix
7D
-4.4%
1Y
56.2%

CALX: Expanded Buybacks And Platform Adoption Will Support Future Share Repricing

The updated analyst price target for Calix now stands at $75, with the modest adjustment tied to slightly higher discount rate assumptions and a lower future P/E multiple, as analysts weigh recent target cuts against ongoing views that weakness in the shares may present a buying opportunity. Analyst Commentary Analysts are split between trimming valuation expectations and leaning into what they view as a constructive long term setup for Calix.
VSAT
US$46.51
Viasat
7D
2.2%
1Y
395.8%

VSAT: Spinout Hopes Around Defense Unit Will Likely Disappoint

The latest Street research implies a higher consolidated analyst price target for Viasat, with firms pointing to updated sum of the parts valuation work, a revised $39 target from Morgan Stanley, and potential value from any future spinout of the defense and advanced technologies division, which analysts see as echoing recent plans at L3Harris. Analyst Commentary Recent research on Viasat has centered on how to value the different pieces of the business, with several firms talking about sum of the parts work, potential spinout scenarios, and what that could mean for the equity story.
UI
US$749.88
Ubiquiti
7D
-3.1%
1Y
146.8%