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U.S. Alternative Carriers Industry Analysis

UpdatedJun 15, 2026
DataAggregated Company Financials
Companies30
  • 7D-5.8%
  • 3M9.4%
  • 1Y118.7%
  • YTDn/a

Over the last 7 days, the Alternative Carriers industry has dropped 5.7%, driven by AST SpaceMobile declining 12%. Meanwhile, Anterix actually outperformed within the industry, gaining 24% in the last week. Over the past 12 months, the industry was up 122%. As for the next few years, earnings are expected to grow by 69% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Jun 2026US$2.2tUS$32.0b-US$15,811,908,961.1347.4x-137.1x67.9x
Wed, 13 May 2026US$60.5bUS$12.6b-US$6,466,099,037.3841.7x-9.4x4.8x
Fri, 10 Apr 2026US$60.0bUS$12.5b-US$8,088,531,579.4732x-7.4x4.8x
Sun, 08 Mar 2026US$53.8bUS$12.5b-US$8,083,773,389.2622x-6.7x4.3x
Tue, 03 Feb 2026US$60.0bUS$12.3b-US$2,938,620,146.7616.5x-20.4x4.9x
Thu, 01 Jan 2026US$46.0bUS$12.3b-US$2,937,662,950.3014.5x-15.7x3.7x
Sat, 29 Nov 2025US$38.7bUS$12.3b-US$2,934,390,269.8313.7x-13.2x3.1x
Mon, 27 Oct 2025US$43.6bUS$12.1b-US$4,797,031,788.6815.1x-9.1x3.6x
Wed, 24 Sep 2025US$33.0bUS$12.1b-US$4,806,131,117.5016.6x-6.9x2.7x
Fri, 22 Aug 2025US$30.0bUS$12.1b-US$4,806,007,375.7322.6x-6.2x2.5x
Sun, 20 Jul 2025US$28.0bUS$12.0b-US$1,336,539,742.6553.3x-21x2.3x
Tue, 17 Jun 2025US$25.2bUS$11.9b-US$1,351,965,496.1448.6x-18.6x2.1x
Thu, 15 May 2025US$20.6bUS$11.6b-US$1,344,593,926.5446.8x-15.3x1.8x
Sat, 12 Apr 2025US$21.9bUS$12.5bUS$563.1m23.4x38.8x1.7x
Mon, 10 Mar 2025US$27.2bUS$12.1bUS$627.6m29.6x43.4x2.2x
Wed, 05 Feb 2025US$22.6bUS$15.4b-US$4,987,473,577.5191.7x-4.5x1.5x
Fri, 03 Jan 2025US$25.8bUS$15.4b-US$4,983,713,402.6475.5x-5.2x1.7x
Sun, 01 Dec 2024US$25.9bUS$15.4b-US$4,980,842,716.8781.9x-5.2x1.7x
Tue, 29 Oct 2024US$28.4bUS$15.3b-US$2,233,742,076.1874.7x-12.7x1.9x
Thu, 26 Sep 2024US$27.6bUS$15.3b-US$2,262,974,859.1075.5x-12.2x1.8x
Sat, 24 Aug 2024US$28.6bUS$15.3b-US$2,262,672,647.3475.5x-12.6x1.9x
Mon, 22 Jul 2024US$21.0bUS$15.2b-US$1,806,762,589.20109.4x-11.6x1.4x
Wed, 19 Jun 2024US$20.1bUS$15.2b-US$1,779,776,415.84109.4x-11.3x1.3x
Fri, 17 May 2024US$19.6bUS$15.2b-US$1,777,593,441.75109.6x-11x1.3x
Sun, 14 Apr 2024US$18.9bUS$15.6b-US$3,035,250,766.9680.3x-6.2x1.2x
Tue, 12 Mar 2024US$20.0bUS$15.6b-US$3,012,312,056.4780.3x-6.6x1.3x
Thu, 08 Feb 2024US$23.3bUS$17.2b-US$4,081,227,217.1813x-5.7x1.4x
Sat, 06 Jan 2024US$27.5bUS$32.0b-US$15,448,932,866.0025.6x-1.8x0.9x
Mon, 04 Dec 2023US$24.0bUS$32.0b-US$15,448,992,126.0010.5x-1.6x0.7x
Wed, 01 Nov 2023US$23.4bUS$32.8b-US$13,168,094,401.008.4x-1.8x0.7x
Fri, 29 Sep 2023US$25.5bUS$32.8b-US$13,163,133,439.008.9x-1.9x0.8x
Sun, 27 Aug 2023US$26.3bUS$32.8b-US$13,163,093,919.0010.9x-2x0.8x
Tue, 25 Jul 2023US$26.3bUS$33.1b-US$3,285,868,234.0036.6x-8x0.8x
Thu, 22 Jun 2023US$25.2bUS$33.1b-US$3,283,731,906.0021.5x-7.7x0.8x
Price to Earnings Ratio

-7.7x


Total Market Cap: US$25.2bTotal Earnings: -US$3,283,731,906.00Total Revenue: US$33.1bTotal 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 industry's 3-year average PS ratio of 2.4x is exceeded by the industry's current PS ratio of 67.9x.
Past Earnings Growth
  • The earnings for companies in the Alternative Carriers industry have deteriorated over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has caused losses to expand.

Industry Comparison

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

US Market0.50%
Telecom-0.82%
Telecom Services and Carriers3.41%
Alternative Carriers-5.80%
Integrated Telecom Services4.74%
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
ATEX AnterixUS$82.5024.5%
+US$319.6m		195.0%PE17.2x
LBTY.A Liberty GlobalUS$12.465.5%
+US$219.8m		25.0%PS0.8x
LILA Liberty Latin AmericaUS$8.166.9%
+US$106.8m		46.5%PS0.4x
TSAT TelesatUS$46.914.8%
+US$32.6m		165.5%PS2.6x
SIFY Sify TechnologiesUS$16.051.6%
+US$18.8m		276.8%PS2.5x

Latest News

GSAT
US$81.16
Globalstar
7D
-0.04%
1Y
247.1%
IRDM
US$47.32
Iridium Communications
7D
-0.3%
1Y
61.2%
ASTS
US$82.41
AST SpaceMobile
7D
-10.5%
1Y
96.6%
ATEX
US$82.50
Anterix
7D
24.5%
1Y
195.0%
BAND
US$65.34
Bandwidth
7D
-5.1%
1Y
357.6%
Narrative Update • Jun 11

BAND: AI Hype And Earnings Momentum Will Eventually Strain Future Returns

Analysts have lifted their Bandwidth fair value estimate from $15.00 to $38.00, citing updated assumptions for revenue growth, profit margins, the discount rate, and a lower future P/E multiple. What's in the News Q1 2026 results showed revenue growth of 19.8% year over year, with adjusted EPS and record adjusted EBITDA above analyst expectations, reinforcing Bandwidth's position as an AI focused voice and communications infrastructure platform.
LUMN
US$8.49
Lumen Technologies
7D
-5.8%
1Y
108.6%
Seeking Alpha • Jun 10

Lumen Technologies: Limited AI Detected

Summary Lumen Technologies has surged on AI hype, but core revenues and EBITDA continue to decline sharply. Recent AI hyperscaler deals, including with Anthropic, add minimal recurring revenue—$46 million quarterly versus a shrinking multi-billion dollar base. The stock trades at 6.5x EV/EBITDA, a stretched valuation for a declining telecom, with $11.4 billion net debt and no clear growth turnaround. I remain Bearish; investors should exit LUMN on AI-driven rallies until management demonstrates credible, material growth. Read the full article on Seeking Alpha
CCOI
US$15.86
Cogent Communications Holdings
7D
-5.5%
1Y
-66.2%
Narrative Update • Jun 08

CCOI: Data Center Sale And Deleveraging Plan Will Support Future Margin Expansion

The analyst price target for Cogent Communications Holdings has been revised from $26.18 to $21.27, reflecting analysts' updated views on risk, growth, and valuation after a series of target cuts and ratings changes related to the recent data center sale. Analyst Commentary Recent research updates on Cogent Communications Holdings have tilted more cautious, with several firms revising ratings and price targets following the announcement of the data center sale to I Squared Capital for US$225 million in cash.
NXPL
US$6.18
NextPlat
7D
2.7%
1Y
-12.1%
LBTY.A
US$12.46
Liberty Global
7D
5.5%
1Y
25.0%
Narrative Update • Jun 05

LBTY.A: Higher P/E Assumptions And Ziggo Group Listing Will Support Future Upside

Analysts have raised their price targets on Liberty Global by about $2 to $3, citing updated assumptions on fair value, discount rate, revenue growth, profit margins and future P/E. Analyst Commentary Recent Street research on Liberty Global centers on recalibrated price targets that reflect updated assumptions for fair value, discount rates, revenue trajectories, profit margins and future P/E multiples.
LILA
US$8.16
Liberty Latin America
7D
6.9%
1Y
46.5%
TSAT
US$46.91
Telesat
7D
4.8%
1Y
165.5%
IQST
US$1.10
iQSTEL
7D
8.9%
1Y
-89.5%
ELWT
US$6.20
Elauwit Connection
7D
-6.8%
1Y
n/a
SIFY
US$16.05
Sify Technologies
7D
1.6%
1Y
276.8%
IOTR
US$3.28
iOThree
7D
-3.5%
1Y
-18.3%