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U.S. Telecom Services and Carriers Industry Analysis

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies56
  • 7D-2.9%
  • 3M1.6%
  • 1Y0.2%
  • YTD4.7%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 2.9%, driven by a pullback from Comcast of 8.9%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 8.7% annually.

Industry Valuation and Performance

Has the U.S. Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026US$535.4bUS$410.0bUS$49.7b12.6x10.8x1.3x
Sat, 28 Mar 2026US$577.3bUS$406.4bUS$51.3b13.4x11.3x1.4x
Mon, 23 Feb 2026US$572.2bUS$406.4bUS$50.8b9.7x11.3x1.4x
Wed, 21 Jan 2026US$508.8bUS$410.1bUS$61.1b9.7x8.3x1.2x
Fri, 19 Dec 2025US$399.9bUS$284.0bUS$38.4b9.1x10.4x1.4x
Sun, 16 Nov 2025US$413.1bUS$287.7bUS$38.2b9.1x10.8x1.4x
Tue, 14 Oct 2025US$420.4bUS$286.4bUS$25.5b13.9x16.5x1.5x
Thu, 11 Sep 2025US$444.5bUS$286.4bUS$25.5b15x17.4x1.6x
Sat, 09 Aug 2025US$431.3bUS$286.4bUS$25.5b15.8x16.9x1.5x
Mon, 07 Jul 2025US$435.8bUS$282.4bUS$27.5b17.9x15.8x1.5x
Wed, 04 Jun 2025US$424.7bUS$282.3bUS$27.5b17.1x15.4x1.5x
Fri, 02 May 2025US$425.4bUS$283.2bUS$29.3b13.8x14.5x1.5x
Sun, 30 Mar 2025US$433.2bUS$281.7bUS$28.1b13.9x15.4x1.5x
Tue, 25 Feb 2025US$413.7bUS$281.3bUS$28.5b13.6x14.5x1.5x
Thu, 23 Jan 2025US$368.4bUS$283.7bUS$13.1b18.1x28x1.3x
Sat, 21 Dec 2024US$373.1bUS$284.8bUS$12.9b18.8x28.9x1.3x
Mon, 18 Nov 2024US$378.1bUS$281.4bUS$13.3b18.9x28.5x1.3x
Wed, 16 Oct 2024US$378.5bUS$281.4bUS$21.2b18.3x17.8x1.3x
Fri, 13 Sep 2024US$377.5bUS$281.4bUS$21.2b18.7x17.8x1.3x
Sun, 11 Aug 2024US$346.3bUS$281.3bUS$21.2b20.9x16.3x1.2x
Tue, 09 Jul 2024US$339.5bUS$281.1bUS$22.7b23.2x15x1.2x
Thu, 06 Jun 2024US$337.2bUS$281.1bUS$22.7b26.7x14.9x1.2x
Sat, 04 May 2024US$312.9bUS$281.5bUS$22.7b26.8x13.8x1.1x
Mon, 01 Apr 2024US$331.4bUS$281.7bUS$22.5b28.1x14.7x1.2x
Wed, 28 Feb 2024US$316.9bUS$283.7bUS$20.7b23.4x15.3x1.1x
Fri, 26 Jan 2024US$331.0bUS$300.5bUS$8.4b14.3x39.6x1.1x
Sun, 24 Dec 2023US$315.5bUS$300.0b-US$7,362,413,411.0012.9x-42.9x1.1x
Tue, 21 Nov 2023US$301.8bUS$300.0b-US$7,363,750,550.0010.1x-41x1x
Thu, 19 Oct 2023US$268.4bUS$301.0b-US$2,071,376,224.007.8x-129.6x0.9x
Sat, 16 Sep 2023US$283.6bUS$301.1b-US$2,062,125,917.009.5x-137.5x0.9x
Mon, 14 Aug 2023US$283.3bUS$301.0b-US$996,860,238.0010.1x-284.2x0.9x
Wed, 12 Jul 2023US$294.3bUS$302.2bUS$9.5b12.2x30.8x1x
Fri, 09 Jun 2023US$301.9bUS$302.2bUS$9.5b10.9x31.7x1x
Sun, 07 May 2023US$321.0bUS$302.2bUS$11.5b11.3x27.9x1.1x
Price to Earnings Ratio

27.9x


Total Market Cap: US$321.0bTotal Earnings: US$11.5bTotal Revenue: US$302.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Telecom Services and Carriers Industry Price to Earnings3Y Average 0.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.8x which is higher than its 3-year average PE of 0.83x.
  • The industry is trading close to its 3-year average PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 11% 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. Telecom industry?

US Market-0.18%
Telecom1.26%
Telecom Services and Carriers-2.88%
Integrated Telecom Services-1.82%
Alternative Carriers-11.64%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry even though it's trading below its 3-year average PE ratio of 16.1x.
    • Analysts are expecting annual earnings growth of 0.2%, which is lower than the prior year's growth of 11.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Alternative Carriers industry, expecting annual earnings growth of 87% over the next 5 years.
  • This is better than its past earnings growth rate of 35% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VZ Verizon CommunicationsUS$48.031.7%
+US$3.2b		10.9%PE11.6x
BAND BandwidthUS$36.8160.4%
+US$443.7m		195.7%PS1.6x
GSAT GlobalstarUS$82.301.2%
+US$129.9m		318.2%PS38.8x
ATEX AnterixUS$48.329.3%
+US$77.2m		61.3%PE11.1x
UNIT Uniti GroupUS$11.830.7%
+US$19.4m		44.7%PE2.3x

Latest News

GSAT
US$82.30
Globalstar
7D
1.2%
1Y
318.2%
ASTS
US$73.90
AST SpaceMobile
7D
-6.2%
1Y
221.0%
NXPL
US$6.39
NextPlat
7D
2.6%
1Y
17.0%
T
US$26.13
AT&T
7D
-1.8%
1Y
-5.5%

T: Future Returns Will Balance Heavy Network Spend And Moderating P/E Expectations

Analysts have slightly lowered their AT&T price target from about $25.11 to $25.00 as they factor in modestly different assumptions for revenue growth, profit margins, the discount rate, and the future P/E multiple. What's in the News Between January 1, 2026 and March 31, 2026, AT&T repurchased 86,199,718 shares, or 1.22% of its stock, for US$2,300m under its December 3, 2024 buyback program.
LUMN
US$8.84
Lumen Technologies
7D
-1.9%
1Y
151.1%

LUMN: Execution Risk Around Profitability Will Limit Upside From AI Network Efforts

Analysts have adjusted their price targets on Lumen Technologies in a relatively tight range, with recent moves including $1 and $1.75 increases as well as a $1 cut, reflecting updated views on discount rates, profit margin assumptions, and future P/E expectations. Analyst Commentary Recent Street research has clustered around a small set of price target changes and a rating downgrade, giving you a mixed but useful snapshot of how professionals are thinking about Lumen Technologies today.
VZ
US$48.03
Verizon Communications
7D
1.7%
1Y
10.9%
LBTY.A
US$11.58
Liberty Global
7D
-4.4%
1Y
6.4%
CMCSA
US$27.04
Comcast
7D
-14.5%
1Y
-20.0%
SHEN
US$15.73
Shenandoah Telecommunications
7D
-8.0%
1Y
36.9%

SHEN: Rural Broadband Execution And Bullish Coverage Will Support Future Upside

Analysts have adjusted their price target for Shenandoah Telecommunications to $27.50, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E after recent bullish initiations of coverage, while keeping the fair value estimate steady at $27.50. Analyst Commentary Bullish Takeaways Bullish analysts view the recent initiations as supportive of the updated valuation framework, aligning the US$27.50 price target with their assumptions on discount rate, revenue trajectory, profit margin, and future P/E.
IRDM
US$39.07
Iridium Communications
7D
-4.5%
1Y
62.3%
UNIT
US$11.83
Uniti Group
7D
0.7%
1Y
44.7%
TSAT
US$49.07
Telesat
7D
1.4%
1Y
205.9%
GLIB.A
US$34.86
GCI Liberty
7D
-6.1%
1Y
n/a
BAND
US$36.81
Bandwidth
7D
60.4%
1Y
195.7%

BAND: AI Partnerships And Buybacks Will Support Measured Long Term Upside Potential

Analysts have lifted their Bandwidth price target from approximately $23.67 to $24.50, reflecting updated assumptions for revenue growth, profit margins, discount rate, and future P/E, which they view as better aligned with the current setup. What's in the News Bandwidth is partnering with Salesforce to provide infrastructure for Salesforce's new CRM native, AI driven Agentforce Contact Center platform.
ATEX
US$48.32
Anterix
7D
9.3%
1Y
61.3%
IOTR
US$2.73
iOThree
7D
11.4%
1Y
-33.5%