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U.S. Alternative Carriers Industry Analysis

UpdatedDec 13, 2025
DataAggregated Company Financials
Companies30
  • 7D4.3%
  • 3M72.1%
  • 1Y109.0%
  • YTDn/a

In the last week, the Alternative Carriers industry is up 4.3%, with AST SpaceMobile up 3.8%. In the last 12 months, the industry was up 109%. Earnings are forecast to grow by 74% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Dec 2025US$51.8bUS$12.3b-US$2,936,024,906.5515.6x-17.7x4.2x
Tue, 11 Nov 2025US$41.8bUS$12.2b-US$3,050,035,525.6313.7x-13.7x3.4x
Thu, 09 Oct 2025US$44.0bUS$12.1b-US$4,805,513,735.2318.5x-9.2x3.6x
Sat, 06 Sep 2025US$30.2bUS$12.1b-US$4,806,162,666.5923.6x-6.3x2.5x
Mon, 04 Aug 2025US$30.7bUS$12.2b-US$4,465,313,412.1250.6x-6.9x2.5x
Wed, 02 Jul 2025US$30.2bUS$11.9b-US$1,333,159,989.2848.9x-22.7x2.5x
Fri, 30 May 2025US$19.9bUS$11.6b-US$1,343,967,557.2850.4x-14.8x1.7x
Sun, 27 Apr 2025US$22.4bUS$12.6bUS$566.5m20.3x39.5x1.8x
Tue, 25 Mar 2025US$25.1bUS$12.6bUS$660.5m18x38.1x2x
Thu, 20 Feb 2025US$26.6bUS$15.4b-US$4,980,862,072.72100.4x-5.3x1.7x
Sat, 18 Jan 2025US$23.0bUS$15.4b-US$4,984,668,549.5896x-4.6x1.5x
Mon, 16 Dec 2024US$25.1bUS$15.4b-US$4,980,847,900.3176.8x-5x1.6x
Wed, 13 Nov 2024US$33.0bUS$15.4b-US$4,807,291,311.2976.2x-6.9x2.1x
Fri, 11 Oct 2024US$27.1bUS$15.3b-US$2,262,968,760.4982.7x-12x1.8x
Sun, 08 Sep 2024US$26.9bUS$15.3b-US$2,262,968,420.5175.7x-11.9x1.8x
Tue, 06 Aug 2024US$24.0bUS$15.3b-US$968,035,094.2636.3x-24.8x1.6x
Thu, 04 Jul 2024US$20.8bUS$15.2b-US$1,804,730,265.93119.1x-11.5x1.4x
Sat, 01 Jun 2024US$20.5bUS$15.2b-US$1,779,776,723.39109.4x-11.5x1.3x
Mon, 29 Apr 2024US$19.2bUS$15.6b-US$3,025,322,691.0580.3x-6.4x1.2x
Wed, 27 Mar 2024US$19.0bUS$15.6b-US$3,012,320,952.2483.9x-6.3x1.2x
Fri, 23 Feb 2024US$20.8bUS$15.5b-US$2,919,833,832.0745.1x-7.1x1.3x
Sun, 21 Jan 2024US$25.9bUS$32.0b-US$15,452,205,335.0013.9x-1.7x0.8x
Tue, 19 Dec 2023US$25.1bUS$32.0b-US$15,448,777,389.0012.5x-1.6x0.8x
Thu, 16 Nov 2023US$22.9bUS$32.0b-US$15,458,491,766.0010.3x-1.5x0.7x
Sat, 14 Oct 2023US$24.2bUS$32.8b-US$13,163,143,432.008.3x-1.8x0.7x
Mon, 11 Sep 2023US$26.3bUS$32.8b-US$13,163,119,669.0010.7x-2x0.8x
Wed, 09 Aug 2023US$25.0bUS$32.2b-US$14,803,690,017.0017.8x-1.7x0.8x
Fri, 07 Jul 2023US$25.8bUS$33.1b-US$3,283,806,400.0028.2x-7.8x0.8x
Sun, 04 Jun 2023US$25.5bUS$33.1b-US$3,311,101,830.0022.4x-7.7x0.8x
Tue, 02 May 2023US$26.8bUS$34.1b-US$1,328,204,384.0015.9x-20.2x0.8x
Thu, 30 Mar 2023US$27.4bUS$34.0b-US$1,330,643,072.0019.6x-20.6x0.8x
Sat, 25 Feb 2023US$29.5bUS$34.0b-US$1,357,871,356.0019.9x-21.7x0.9x
Mon, 23 Jan 2023US$32.1bUS$35.1bUS$6.6b29.4x4.9x0.9x
Wed, 21 Dec 2022US$28.3bUS$35.1bUS$6.6b17.9x4.3x0.8x
Price to Earnings Ratio

4.3x


Total Market Cap: US$28.3bTotal Earnings: US$6.6bTotal Revenue: US$35.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Alternative Carriers Industry Price to Earnings3Y Average -5.4x202320242025
Current Industry PE
  • Investors are optimistic on the American Alternative Carriers industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 4.2x.
Past Earnings Growth
  • Total earnings for the Alternative Carriers industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 30% per year, which is driving profits down.

Industry Comparison

How does U.S. Alternative Carriers compare with similar industries?

US Market-0.66%
Telecom-2.94%
Telecom Services and Carriers-1.43%
Alternative Carriers4.26%
Integrated Telecom Services-2.21%
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
ASTS AST SpaceMobileUS$76.703.8%
+US$780.7m		226.7%PS1162.4x
GSAT GlobalstarUS$73.016.6%
+US$574.6m		149.6%PS35.3x
LUMN Lumen TechnologiesUS$8.502.9%
+US$246.2m		30.6%PS0.7x
CCOI Cogent Communications HoldingsUS$23.2718.6%
+US$173.2m		-69.9%PS1.2x
IRDM Iridium CommunicationsUS$18.735.6%
+US$103.7m		-38.0%PE15.6x

Latest News

CCOI
US$23.27
Cogent Communications Holdings
7D
18.6%
1Y
-69.9%

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock Rockets 26% As Investors Are Less Pessimistic Than Expected

Dec 13
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock Rockets 26% As Investors Are Less Pessimistic Than Expected
IOTR
US$2.62
iOThree
7D
-20.6%
1Y
n/a
LILA
US$8.52
Liberty Latin America
7D
-3.9%
1Y
27.0%

LILA: Sustained 7% EBITDA Performance Will Drive Continued Share Rebound

Analysts have raised their price target on Liberty Latin America to $13 from $12, citing confidence that the company's recent 7 percent Q3 rebased EBITDA growth reflects sustainably improving performance. Analyst Commentary Analyst feedback on the updated price target highlights both growing confidence in Liberty Latin America's operational trajectory and several areas that still warrant caution from an execution and valuation standpoint.
IRDM
US$18.73
Iridium Communications
7D
5.6%
1Y
-38.0%

IRDM: Expanding Spectrum Deals And Partnerships Will Drive Long Term Upside Potential

Analysts have trimmed their price target on Iridium Communications to $21 from $26, citing heightened competitive pressure and reduced long term revenue growth expectations amid rival spectrum deals. Analyst Commentary Bullish Takeaways Bullish analysts note that Iridium still retains a differentiated satellite network and entrenched government and enterprise relationships, which they see as supporting a valuation floor despite reduced growth expectations.
TSAT
US$32.07
Telesat
7D
13.2%
1Y
91.3%

Telesat's (NASDAQ:TSAT) Returns On Capital Tell Us There Is Reason To Feel Uneasy

Dec 10
Telesat's (NASDAQ:TSAT) Returns On Capital Tell Us There Is Reason To Feel Uneasy
ELWT
US$5.94
Elauwit Connection
7D
-10.7%
1Y
n/a
LBTY.A
US$11.25
Liberty Global
7D
-0.8%
1Y
-13.5%

Unpleasant Surprises Could Be In Store For Liberty Global Ltd.'s (NASDAQ:LBTY.A) Shares

Dec 09
Unpleasant Surprises Could Be In Store For Liberty Global Ltd.'s (NASDAQ:LBTY.A) Shares
BAND
US$15.27
Bandwidth
7D
2.8%
1Y
-18.4%

BAND: Expanding AI Communications Ecosystem Will Drive Future Revenue Upside

Analysts have modestly raised their price target on Bandwidth to approximately $23.67 per share. This reflects a slightly higher discount rate and future earnings multiple that together support a marginally stronger long term valuation outlook.
LUMN
US$8.50
Lumen Technologies
7D
2.9%
1Y
30.6%
GSAT
US$73.01
Globalstar
7D
6.6%
1Y
149.6%

GSAT: Hybrid Spectrum And Apple Ties Will Shape Potential Sale Outcomes

Analysts have raised their price target on Globalstar to $66, citing the company’s combination of a de-risked, Apple-backed satellite business and its valuable, underutilized terrestrial spectrum as key drivers of long-term upside in a satellite internet of things market they expect could reach $4.9 billion by 2030. Analyst Commentary Analysts highlight that the upgraded price target is rooted in a view that Globalstar’s business model now combines reduced execution risk with meaningful optionality from its spectrum portfolio, supporting a premium multiple versus traditional satellite peers.
IQST
US$3.93
iQSTEL
7D
-4.4%
1Y
-80.6%
ASTS
US$76.70
AST SpaceMobile
7D
3.8%
1Y
226.7%
ATEX
US$23.00
Anterix
7D
12.5%
1Y
-31.4%