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U.S. Alternative Carriers Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies27
  • 7D-2.1%
  • 3M17.9%
  • 1Y113.6%
  • YTDn/a

Over the last 7 days, the Alternative Carriers industry has dropped 1.8%, driven by AST SpaceMobile declining 3.5%. In the past year, the industry has gained 114%. As for the next few years, earnings are expected to grow by 94% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026US$52.8bUS$12.5b-US$8,082,461,961.5522.8x-6.5x4.2x
Wed, 11 Feb 2026US$56.6bUS$12.3b-US$2,939,747,242.8116.9x-19.3x4.6x
Fri, 09 Jan 2026US$50.0bUS$12.3b-US$2,936,536,144.9815.4x-17x4.1x
Sun, 07 Dec 2025US$46.8bUS$12.3b-US$2,935,475,987.8514.8x-15.9x3.8x
Tue, 04 Nov 2025US$47.1bUS$12.2b-US$3,442,035,869.1015.2x-13.7x3.8x
Thu, 02 Oct 2025US$33.2bUS$12.1b-US$4,805,606,259.7416.5x-6.9x2.7x
Sat, 30 Aug 2025US$32.3bUS$12.1b-US$4,806,798,097.7123.3x-6.7x2.7x
Mon, 28 Jul 2025US$32.1bUS$12.0b-US$1,346,962,557.8551.3x-23.8x2.7x
Wed, 25 Jun 2025US$30.7bUS$11.9b-US$1,351,260,777.9648.4x-22.7x2.6x
Fri, 23 May 2025US$19.5bUS$11.6b-US$1,343,640,199.9052.3x-14.5x1.7x
Sun, 20 Apr 2025US$22.3bUS$12.6bUS$562.7m22.9x39.6x1.8x
Tue, 18 Mar 2025US$26.0bUS$12.5bUS$661.9m18.1x39.3x2.1x
Thu, 13 Feb 2025US$25.3bUS$15.4b-US$4,979,234,902.4098.6x-5.1x1.6x
Sat, 11 Jan 2025US$24.2bUS$15.4b-US$4,983,719,993.5971.2x-4.9x1.6x
Mon, 09 Dec 2024US$26.5bUS$15.4b-US$4,980,844,651.0679.1x-5.3x1.7x
Wed, 06 Nov 2024US$29.1bUS$15.4b-US$4,321,500,230.7473.8x-6.7x1.9x
Fri, 04 Oct 2024US$27.6bUS$15.3b-US$2,262,968,209.3978.2x-12.2x1.8x
Sun, 01 Sep 2024US$27.1bUS$15.3b-US$2,263,125,042.9072.4x-12x1.8x
Tue, 30 Jul 2024US$24.9bUS$15.2b-US$975,984,905.4438.5x-25.5x1.6x
Thu, 27 Jun 2024US$19.9bUS$15.2b-US$1,779,777,883.14109.4x-11.2x1.3x
Sat, 25 May 2024US$18.8bUS$15.2b-US$1,779,774,331.21109.6x-10.6x1.2x
Mon, 22 Apr 2024US$18.6bUS$15.6b-US$3,025,374,249.9380.3x-6.2x1.2x
Wed, 20 Mar 2024US$18.7bUS$15.6b-US$3,012,313,930.3980.6x-6.2x1.2x
Fri, 16 Feb 2024US$22.2bUS$15.4b-US$4,165,621,801.7529x-5.3x1.4x
Sun, 14 Jan 2024US$26.3bUS$32.0b-US$15,448,916,881.0014.5x-1.7x0.8x
Tue, 12 Dec 2023US$24.0bUS$32.0b-US$15,448,791,006.0011.5x-1.6x0.7x
Thu, 09 Nov 2023US$22.8bUS$32.1b-US$15,340,860,574.009.6x-1.5x0.7x
Sat, 07 Oct 2023US$24.6bUS$32.8b-US$13,163,130,719.008.6x-1.9x0.8x
Mon, 04 Sep 2023US$27.7bUS$32.8b-US$13,163,103,360.0011.4x-2.1x0.8x
Wed, 02 Aug 2023US$24.9bUS$33.2b-US$5,758,501,968.0014.1x-4.3x0.8x
Fri, 30 Jun 2023US$25.7bUS$33.1b-US$3,283,747,188.0025.8x-7.8x0.8x
Sun, 28 May 2023US$25.0bUS$33.1b-US$3,311,076,042.0023.7x-7.5x0.8x
Tue, 25 Apr 2023US$27.1bUS$34.1b-US$1,325,829,584.0016.9x-20.4x0.8x
Thu, 23 Mar 2023US$26.6bUS$34.0b-US$1,330,594,215.0019.7x-20x0.8x
Price to Earnings Ratio

-20x


Total Market Cap: US$26.6bTotal Earnings: -US$1,330,594,215.00Total Revenue: US$34.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Alternative Carriers Industry Price to Earnings3Y Average -6.6x202420252026
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 1.8x is lower than the industry's current PS ratio of 4.2x.
Past Earnings Growth
  • The earnings for companies in the Alternative Carriers industry have deteriorated over the last three years.
  • Revenues have also declined 28% per year.
  • This means overall sales from these companies are declining and losses are subsequently expanding as well.

Industry Comparison

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

US Market-2.40%
Telecom-2.39%
Telecom Services and Carriers0.15%
Alternative Carriers-2.15%
Integrated Telecom Services0.39%
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
GSAT GlobalstarUS$58.683.6%
+US$259.7m		171.5%PS27.6x
IRDM Iridium CommunicationsUS$24.862.6%
+US$65.1m		-10.1%PE22.8x
TSAT TelesatUS$34.434.9%
+US$24.0m		47.2%PS1.5x
LUMN Lumen TechnologiesUS$6.640.2%
+US$10.2m		31.0%PS0.5x
ELWT Elauwit ConnectionUS$7.034.6%
+US$2.1m		n/aPS2.3x

Latest News

IRDM
US$24.86
Iridium Communications
7D
2.6%
1Y
-10.1%
LILA
US$7.58
Liberty Latin America
7D
-3.2%
1Y
10.7%

LILA: Future Cash Returns Will Be Balanced By Margin And P/E Uncertainty

Analysts have maintained their price target on Liberty Latin America at $8.00, reflecting slightly updated views on revenue growth, profit margins and future P/E assumptions. Valuation Changes Fair Value: Kept steady at $8.00 per share, indicating no change in the overall valuation anchor.
TSAT
US$34.43
Telesat
7D
4.9%
1Y
47.2%
ASTS
US$86.34
AST SpaceMobile
7D
-3.8%
1Y
208.1%
CCOI
US$18.80
Cogent Communications Holdings
7D
-16.4%
1Y
-73.5%

CCOI: Future Data Center Sales And Refinancing Plans Will Support Recovery

Our updated narrative price target for Cogent Communications Holdings moves lower by about $2.40 to $26.27. This reflects analysts' recent target cuts into the low $20s to $40 range after softer Q4 results, slower waves growth, and uncertainty around planned data center sales and balance sheet outcomes.
BAND
US$15.23
Bandwidth
7D
-7.6%
1Y
1.3%
ATEX
US$37.02
Anterix
7D
-4.1%
1Y
-6.2%
GSAT
US$58.68
Globalstar
7D
3.6%
1Y
171.5%

GSAT: Future Will Depend On De Risked Satellites And Underused Spectrum Balance

Analysts have increased their fair value estimate for Globalstar from $60.00 to $63.00, citing a higher $71 Street price target and the view that the company offers a compelling mix of "de-risked" satellite services supported by Apple and underutilized terrestrial spectrum assets. Analyst Commentary Recent research highlights a mixed but generally constructive stance toward Globalstar.
LUMN
US$6.64
Lumen Technologies
7D
0.2%
1Y
31.0%

LUMN: Balance Sheet Repair And Cost Cuts Will Support Re Rating

Our updated Lumen Technologies price target moves modestly higher by a few dollars, as analysts balance mixed rating changes with expectations for slightly less severe revenue contraction, a similar margin profile, and a higher assumed future P/E multiple, supported by recent balance sheet repair and cost cutting progress. Analyst Commentary Recent Street research around Lumen paints a mixed but generally constructive picture, as several bullish analysts lift their price targets while one firm takes a more cautious stance with a downgrade.
LBTY.A
US$12.18
Liberty Global
7D
-3.1%
1Y
2.7%

LBTY.A: Future Infrastructure Deals And Cash Returns Will Support Upside

Analysts have nudged their price target for Liberty Global up by $1 to $14, citing refreshed forecasts and valuation work following the latest company results. Analyst Commentary Bullish analysts see the updated US$14 price target as a reflection of refreshed modeling work after the latest results, rather than a major shift in view.
IQST
US$1.85
iQSTEL
7D
-8.9%
1Y
-84.2%
NXPL
US$0.47
NextPlat
7D
10.8%
1Y
-52.6%

NextPlat Corp (NASDAQ:NXPL) Stock Rockets 25% But Many Are Still Ignoring The Company

Jan 29
NextPlat Corp (NASDAQ:NXPL) Stock Rockets 25% But Many Are Still Ignoring The Company
SIFY
US$13.76
Sify Technologies
7D
-1.4%
1Y
183.1%
ELWT
US$7.03
Elauwit Connection
7D
4.6%
1Y
n/a