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U.S. Telecom Services and Carriers Industry Analysis

UpdatedMay 18, 2026
DataAggregated Company Financials
Companies58
  • 7D-2.6%
  • 3M-10.3%
  • 1Y-3.1%
  • YTD2.3%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 2.6%, driven by AT&T declining 4.5%. Meanwhile, AST SpaceMobile actually outperformed within the industry, gaining 11% in the last week. Overall the industry is down 3.1% in 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 18 May 2026US$514.9bUS$410.2bUS$51.3b13.3x10x1.3x
Wed, 15 Apr 2026US$535.9bUS$406.5bUS$51.3b12.4x10.4x1.3x
Fri, 13 Mar 2026US$573.1bUS$406.5bUS$50.8b10.5x11.3x1.4x
Sun, 08 Feb 2026US$560.8bUS$406.3bUS$55.9b9.6x10x1.4x
Tue, 06 Jan 2026US$413.2bUS$286.7bUS$38.5b12.4x10.7x1.4x
Thu, 04 Dec 2025US$406.0bUS$284.0bUS$38.4b8.9x10.6x1.4x
Sat, 01 Nov 2025US$406.1bUS$287.5bUS$36.6b11.8x11.1x1.4x
Mon, 29 Sep 2025US$440.7bUS$286.4bUS$25.5b14.9x17.3x1.5x
Wed, 27 Aug 2025US$445.2bUS$286.4bUS$25.5b15.3x17.5x1.6x
Fri, 25 Jul 2025US$434.4bUS$285.2bUS$28.9b15.4x15x1.5x
Sun, 22 Jun 2025US$420.9bUS$282.3bUS$27.5b16.9x15.3x1.5x
Tue, 20 May 2025US$423.7bUS$282.3bUS$27.4b17.2x15.5x1.5x
Thu, 17 Apr 2025US$424.7bUS$282.1bUS$28.1b13x15.1x1.5x
Sat, 15 Mar 2025US$412.8bUS$281.3bUS$28.2b10.6x14.6x1.5x
Mon, 10 Feb 2025US$385.9bUS$284.5bUS$22.7b16.4x17x1.4x
Wed, 08 Jan 2025US$372.8bUS$283.6bUS$13.1b18.5x28.4x1.3x
Fri, 06 Dec 2024US$392.6bUS$284.9bUS$12.9b19.2x30.4x1.4x
Sun, 03 Nov 2024US$373.6bUS$281.4bUS$14.0b18.2x26.7x1.3x
Tue, 01 Oct 2024US$386.8bUS$281.4bUS$21.2b17.9x18.3x1.4x
Thu, 29 Aug 2024US$354.2bUS$281.4bUS$21.2b18.8x16.7x1.3x
Sat, 27 Jul 2024US$340.1bUS$281.2bUS$22.6b20.9x15.1x1.2x
Mon, 24 Jun 2024US$330.6bUS$281.1bUS$22.7b25.3x14.6x1.2x
Wed, 22 May 2024US$322.7bUS$281.1bUS$22.7b27.9x14.2x1.1x
Fri, 19 Apr 2024US$312.9bUS$281.7bUS$22.5b26.8x13.9x1.1x
Sun, 17 Mar 2024US$316.5bUS$281.7bUS$22.6b27x14x1.1x
Tue, 13 Feb 2024US$323.6bUS$283.7bUS$19.8b18.1x16.4x1.1x
Thu, 11 Jan 2024US$324.7bUS$300.0b-US$7,362,401,959.0015.1x-44.1x1.1x
Sat, 09 Dec 2023US$321.4bUS$300.0b-US$7,360,707,013.0011.8x-43.7x1.1x
Mon, 06 Nov 2023US$301.2bUS$300.1b-US$6,954,079,469.009.4x-43.3x1x
Wed, 04 Oct 2023US$272.9bUS$301.1b-US$2,062,132,409.008.7x-132.3x0.9x
Fri, 01 Sep 2023US$291.5bUS$301.1b-US$2,059,829,584.0010.9x-141.5x1x
Sun, 30 Jul 2023US$280.1bUS$301.4bUS$6.6b11.5x42.2x0.9x
Tue, 27 Jun 2023US$300.8bUS$302.2bUS$9.5b12.5x31.5x1x
Thu, 25 May 2023US$301.0bUS$302.2bUS$9.5b10.2x31.6x1x
Price to Earnings Ratio

31.6x


Total Market Cap: US$301.0bTotal Earnings: US$9.5bTotal Revenue: US$302.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Telecom Services and Carriers Industry Price to Earnings3Y Average 0.5x202420252026
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 10.0x which is higher than its 3-year average PE of 0.51x.
  • 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 75% 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-0.26%
Telecom1.01%
Telecom Services and Carriers-2.64%
Alternative Carriers-0.26%
Integrated Telecom Services-2.95%
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 15.8x.
    • Analysts are expecting annual earnings growth of 0.3%, 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 90% over the next 5 years.
  • This is better than its past earnings decline of 12% 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
LUMN Lumen TechnologiesUS$10.0520.5%
+US$1.8b		152.5%PS0.9x
ASTS AST SpaceMobileUS$83.671.4%
+US$334.6m		240.0%PS294.3x
BAND BandwidthUS$53.978.0%
+US$128.7m		280.3%PS2.2x
ATEX AnterixUS$57.062.4%
+US$25.1m		102.1%PE13.1x
IHS IHS HoldingUS$8.240%
US$9.5m		31.8%PE4.3x

Latest News

UNIT
US$11.05
Uniti Group
7D
-2.8%
1Y
46.4%
Analysis Article • 4h

Uniti Group's (NASDAQ:UNIT) Shareholders Should Assess Earnings With Caution

We didn't see Uniti Group Inc.'s ( NASDAQ:UNIT ) stock surge when it reported robust earnings recently. We looked...
ASTS
US$83.67
AST SpaceMobile
7D
1.4%
1Y
240.0%
IRDM
US$41.62
Iridium Communications
7D
-3.5%
1Y
65.0%
Narrative Update • May 17

IRDM: Spectrum Optimism Around Amazon Ties Will Likely Outrun Cash Flow Reality

Analysts lifted their average price targets on Iridium Communications by double digits into the $26 to $40 range, citing reassessed spectrum value after the Amazon-related commentary, as well as a series of higher P/E assumptions alongside recalibrated discount rates and profit margin expectations. Analyst Commentary Recent research on Iridium Communications has centered on how investors should weigh the value of its spectrum and long term growth opportunities against execution risks and current valuation.
CMCSA
US$24.76
Comcast
7D
-1.1%
1Y
-30.1%
BAND
US$53.97
Bandwidth
7D
8.0%
1Y
280.3%
LUMN
US$10.05
Lumen Technologies
7D
20.5%
1Y
152.5%
Seeking Alpha • May 15

Lumen Continues Its AI Transformation

Summary Lumen Technologies shares have surged over 33% YTD, driven by AI-related initiatives and strategic business shifts. Q1 revenues declined year-over-year but beat estimates; strategic business lines grew 9%, while legacy segments continued to contract. Acquisitions like Alkira and expanded cloud partnerships position LUMN for long-term growth, though valuation remains discounted versus peers. Read the full article on Seeking Alpha
T
US$24.03
AT&T
7D
-3.4%
1Y
-14.2%
LILA
US$7.18
Liberty Latin America
7D
-6.9%
1Y
42.2%
Narrative Update • May 14

LILA: Higher Margin Outlook And Ongoing Buybacks Will Support Future Upside

Analysts have revised their price target on Liberty Latin America to $11.90, with the change linked to updated assumptions around discount rate, revenue growth, profit margin and future P/E, even though the headline fair value figure itself remains at $11.90. What's in the News On April 16, 2026, GCI Liberty, Inc.
IHS
US$8.24
IHS Holding
7D
0%
1Y
31.8%
VZ
US$46.37
Verizon Communications
7D
-1.8%
1Y
4.6%
LBTY.A
US$11.51
Liberty Global
7D
-4.6%
1Y
17.9%
Narrative Update • May 11

LBTY.A: Media Assets And Buybacks Will Support Stronger Future Share Performance

Liberty Global's updated analyst price target has shifted from $28.41 to $22.74, reflecting recent revisions to growth, margins, discount rate, and P/E assumptions that analysts have been adjusting following the latest company results. Analyst Commentary Recent research updates show a series of upward revisions to Liberty Global's price targets, suggesting that some bullish analysts see improved alignment between the current valuation framework and the latest company results.
GLIB.A
US$25.59
GCI Liberty
7D
-10.9%
1Y
n/a
ATEX
US$57.06
Anterix
7D
2.4%
1Y
102.1%
CCOI
US$16.48
Cogent Communications Holdings
7D
0.5%
1Y
-67.0%
Narrative Update • May 09

CCOI: Weaker Core Revenue Trends Will Drive A More Cautious Thesis

Cogent Communications Holdings' updated analyst price target has moved lower from $21.00 to $14.00 as analysts factor in more conservative revenue growth, a slightly higher discount rate, and a reduced future P/E assumption, partly offset by a modestly higher profit margin outlook. Analyst Commentary Recent Street research on Cogent Communications Holdings has tilted cautious, with several bearish analysts trimming price targets and flagging execution and growth risks.