Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Alternative Carriers Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies27
  • 7D2.8%
  • 3M14.3%
  • 1Y132.3%
  • YTDn/a

In the last week, the Alternative Carriers industry is up 2.8%, with AST SpaceMobile up 4.2%. This takes the industry's 12 month performance to a gain of 132%. Earnings are forecast to grow by 96% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026US$55.9bUS$12.5b-US$8,081,774,916.6723.3x-6.9x4.5x
Mon, 16 Feb 2026US$49.9bUS$12.3b-US$2,965,407,164.5421.3x-16.8x4.1x
Wed, 14 Jan 2026US$55.6bUS$12.3b-US$2,937,084,260.3516.3x-18.9x4.5x
Fri, 12 Dec 2025US$49.2bUS$12.3b-US$2,935,893,081.5315.7x-16.8x4x
Sun, 09 Nov 2025US$41.8bUS$12.2b-US$3,049,928,142.7914x-13.7x3.4x
Tue, 07 Oct 2025US$41.0bUS$12.1b-US$4,805,557,108.7318.8x-8.5x3.4x
Thu, 04 Sep 2025US$32.4bUS$12.1b-US$4,806,455,629.8223.1x-6.7x2.7x
Sat, 02 Aug 2025US$31.0bUS$12.0b-US$1,355,413,412.1250.6x-22.8x2.6x
Mon, 30 Jun 2025US$24.9bUS$11.9b-US$1,332,804,769.5948.9x-18.7x2.1x
Wed, 28 May 2025US$19.5bUS$11.6b-US$1,343,905,820.3049.4x-14.5x1.7x
Fri, 25 Apr 2025US$21.5bUS$12.6bUS$566.5m20.2x38x1.7x
Sun, 23 Mar 2025US$25.1bUS$12.6bUS$661.8m17.6x38x2x
Tue, 18 Feb 2025US$26.6bUS$15.4b-US$4,980,866,880.6298.7x-5.3x1.7x
Thu, 16 Jan 2025US$22.6bUS$15.4b-US$4,983,724,686.3575.1x-4.5x1.5x
Sat, 14 Dec 2024US$25.2bUS$15.4b-US$4,980,847,900.3176.8x-5.1x1.6x
Mon, 11 Nov 2024US$31.7bUS$15.4b-US$4,807,290,950.9680.8x-6.6x2.1x
Wed, 09 Oct 2024US$27.4bUS$15.3b-US$2,262,968,532.1082.2x-12.1x1.8x
Fri, 06 Sep 2024US$28.7bUS$15.3b-US$2,262,968,384.4674.8x-12.7x1.9x
Sun, 04 Aug 2024US$24.0bUS$15.3b-US$968,039,108.5337.8x-24.8x1.6x
Tue, 02 Jul 2024US$21.0bUS$15.2b-US$1,804,729,965.27118.5x-11.6x1.4x
Thu, 30 May 2024US$19.4bUS$15.2b-US$1,779,776,408.09109.6x-10.9x1.3x
Sat, 27 Apr 2024US$19.2bUS$15.6b-US$3,025,322,691.0580.3x-6.4x1.2x
Mon, 25 Mar 2024US$18.8bUS$15.6b-US$3,012,322,602.2780.3x-6.2x1.2x
Wed, 21 Feb 2024US$21.4bUS$15.5b-US$2,919,833,848.3446.6x-7.3x1.4x
Fri, 19 Jan 2024US$25.9bUS$32.0b-US$15,452,206,109.0015.6x-1.7x0.8x
Sun, 17 Dec 2023US$25.1bUS$32.0b-US$15,448,772,645.0012.4x-1.6x0.8x
Tue, 14 Nov 2023US$21.9bUS$32.0b-US$15,460,054,067.008.9x-1.4x0.7x
Thu, 12 Oct 2023US$24.8bUS$32.8b-US$13,163,135,601.008.3x-1.9x0.8x
Sat, 09 Sep 2023US$26.6bUS$32.8b-US$13,163,119,669.0010.7x-2x0.8x
Mon, 07 Aug 2023US$24.1bUS$32.3b-US$14,800,967,185.0014.2x-1.6x0.7x
Wed, 05 Jul 2023US$26.1bUS$33.1b-US$3,283,739,128.0030.4x-7.9x0.8x
Fri, 02 Jun 2023US$24.7bUS$33.1b-US$3,311,096,718.0021.9x-7.5x0.7x
Sun, 30 Apr 2023US$27.0bUS$34.1b-US$1,328,200,451.0015.8x-20.3x0.8x
Tue, 28 Mar 2023US$26.8bUS$34.0b-US$1,330,636,728.0019.2x-20.1x0.8x
Price to Earnings Ratio

-20.1x


Total Market Cap: US$26.8bTotal Earnings: -US$1,330,636,728.00Total Revenue: US$34.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Alternative Carriers Industry Price to Earnings3Y Average -6.5x202420252026
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 4.5x.
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-1.86%
Telecom-1.65%
Telecom Services and Carriers-0.78%
Alternative Carriers2.82%
Integrated Telecom Services-1.15%
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$89.934.2%
+US$1.1b		249.8%PS371.1x
IRDM Iridium CommunicationsUS$25.402.2%
+US$56.7m		-8.1%PE23.3x
LILA Liberty Latin AmericaUS$7.813.0%
+US$46.0m		16.0%PS0.4x
ATEX AnterixUS$39.346.3%
+US$43.5m		4.1%PE9.1x
TSAT TelesatUS$37.067.6%
+US$38.9m		77.4%PS1.8x

Latest News

IRDM
US$25.40
Iridium Communications
7D
2.2%
1Y
-8.1%

IRDM: Spectrum Optionality And Early Business Pivot Will Shape Future Returns

Iridium Communications' analyst price target has been reset to $26, while the intrinsic value estimate edges to $29.00 from $29.75 as analysts factor in slightly lower revenue growth assumptions, higher profit margin expectations, and updated views on spectrum optionality and the timing of a potential business pivot. Analyst Commentary Recent research on Iridium centers on how investors should weigh a refreshed outlook on spectrum opportunities against more tempered medium term guidance and a still early business pivot.
TSAT
US$37.06
Telesat
7D
7.6%
1Y
77.4%
GSAT
US$58.73
Globalstar
7D
0.09%
1Y
167.3%

GSAT: De Risked Satellite Services And Spectrum Optionality Will Drive Upside Potential

Analysts have lifted Globalstar's price target to $71 from $66, citing a combination of a "de-risked" Apple supported satellite services business, underused terrestrial spectrum assets, and improved government services expectations related to XCOM Radio Access Network's commercial progress. Analyst Commentary Analysts lifting the price target to $71 frame Globalstar as a hybrid story, combining its satellite services with underused terrestrial spectrum and potential government work tied to XCOM Radio Access Network.
LUMN
US$6.49
Lumen Technologies
7D
-2.3%
1Y
31.9%

LUMN: Balance Sheet Repair Will Not Resolve Ongoing Revenue Execution Concerns

Analysts have raised the Lumen Technologies price target by $1 to a new fair value estimate of $6.00. This reflects a combination of higher applied multiples, ongoing balance sheet repair, asset sale proceeds, and cost cutting, partially offset by a higher discount rate and continued caution around revenue trends.
LBTY.A
US$11.69
Liberty Global
7D
-4.0%
1Y
0.2%

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

Narrative Update on Liberty Global Analysts have nudged their price target on Liberty Global higher to $14 from $13, reflecting updated forecasts and valuation work following the latest company results. Analyst Commentary Analyst research around the new US$14 price target centers on updated forecasts and valuation work after the latest company results, with views divided between potential upside and execution risk.
LILA
US$7.81
Liberty Latin America
7D
3.0%
1Y
16.0%

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.
ASTS
US$89.93
AST SpaceMobile
7D
4.2%
1Y
249.8%
CCOI
US$18.05
Cogent Communications Holdings
7D
-4.0%
1Y
-73.6%

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$15.46
Bandwidth
7D
1.5%
1Y
2.4%
ATEX
US$39.34
Anterix
7D
6.3%
1Y
4.1%
IQST
US$1.72
iQSTEL
7D
-7.0%
1Y
-86.0%
IOTR
US$1.56
iOThree
7D
-21.2%
1Y
n/a
SIFY
US$13.89
Sify Technologies
7D
0.9%
1Y
218.6%
ELWT
US$6.67
Elauwit Connection
7D
-5.1%
1Y
n/a