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U.S. Alternative Carriers Industry Analysis

UpdatedMar 31, 2026
DataAggregated Company Financials
Companies26
  • 7D-10.7%
  • 3M3.4%
  • 1Y125.3%
  • YTDn/a

Over the last 7 days, the Alternative Carriers industry has dropped 11%, driven by AST SpaceMobile declining 17%. Over the past 12 months, the industry was up 125%. As for the next few years, earnings are expected to grow by 93% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026US$50.4bUS$12.5b-US$8,079,940,656.3024.6x-6.2x4.1x
Fri, 27 Feb 2026US$51.5bUS$12.4b-US$8,083,646,323.3920.6x-6.4x4.1x
Sun, 25 Jan 2026US$61.5bUS$12.3b-US$2,938,342,134.5718.1x-20.9x5x
Tue, 23 Dec 2025US$46.5bUS$12.3b-US$2,936,316,212.9215.1x-15.8x3.8x
Thu, 20 Nov 2025US$39.3bUS$12.3b-US$2,933,874,990.6413.5x-13.4x3.2x
Sat, 18 Oct 2025US$48.8bUS$12.1b-US$4,805,330,425.8517.4x-10.2x4x
Mon, 15 Sep 2025US$28.2bUS$12.1b-US$4,806,174,079.2116.7x-5.9x2.3x
Wed, 13 Aug 2025US$31.7bUS$12.1b-US$4,850,599,487.4549.8x-6.5x2.6x
Fri, 11 Jul 2025US$28.6bUS$11.9b-US$1,332,971,051.9049.8x-21.5x2.4x
Sun, 08 Jun 2025US$22.5bUS$11.9b-US$1,351,416,187.7647.9x-16.6x1.9x
Tue, 06 May 2025US$23.4bUS$12.6b-US$1,388,630,037.9181.3x-16.8x1.8x
Thu, 03 Apr 2025US$23.0bUS$12.5bUS$565.0m26.1x40.8x1.8x
Sat, 01 Mar 2025US$24.1bUS$12.2bUS$642.2m30.5x37.6x2x
Mon, 27 Jan 2025US$21.9bUS$15.4b-US$4,987,495,773.6291.2x-4.4x1.4x
Wed, 25 Dec 2024US$24.6bUS$15.4b-US$4,980,854,099.5574.3x-4.9x1.6x
Fri, 22 Nov 2024US$24.7bUS$15.4b-US$4,980,840,976.1181.8x-5x1.6x
Sun, 20 Oct 2024US$30.1bUS$15.3b-US$2,236,878,712.7687.9x-13.5x2x
Tue, 17 Sep 2024US$27.9bUS$15.3b-US$2,262,970,800.2773.2x-12.3x1.8x
Thu, 15 Aug 2024US$24.8bUS$15.3b-US$2,225,191,168.2774.8x-11.2x1.6x
Sat, 13 Jul 2024US$22.3bUS$15.2b-US$1,804,730,378.24117x-12.4x1.5x
Mon, 10 Jun 2024US$19.3bUS$15.2b-US$1,779,777,726.85109.4x-10.9x1.3x
Wed, 08 May 2024US$19.4bUS$15.1b-US$1,758,016,208.4070.6x-11.1x1.3x
Fri, 05 Apr 2024US$18.8bUS$15.6b-US$3,034,493,492.3780.3x-6.2x1.2x
Sun, 03 Mar 2024US$20.7bUS$15.7b-US$3,012,479,623.73236x-6.9x1.3x
Tue, 30 Jan 2024US$25.6bUS$32.0b-US$15,453,228,481.0013.4x-1.7x0.8x
Thu, 28 Dec 2023US$26.9bUS$32.0b-US$15,448,941,382.0013.6x-1.7x0.8x
Sat, 25 Nov 2023US$23.3bUS$32.0b-US$15,449,003,249.0010x-1.5x0.7x
Mon, 23 Oct 2023US$23.5bUS$32.8b-US$13,168,090,050.007.8x-1.8x0.7x
Wed, 20 Sep 2023US$27.7bUS$32.8b-US$13,163,145,702.009.7x-2.1x0.8x
Fri, 18 Aug 2023US$27.3bUS$32.8b-US$13,163,195,116.0010.6x-2.1x0.8x
Sun, 16 Jul 2023US$26.0bUS$33.1b-US$3,283,741,510.0037x-7.9x0.8x
Tue, 13 Jun 2023US$25.8bUS$33.1b-US$3,311,103,221.0021.1x-7.8x0.8x
Thu, 11 May 2023US$26.0bUS$33.1b-US$3,312,358,574.0019.2x-7.9x0.8x
Sat, 08 Apr 2023US$27.1bUS$34.0b-US$1,332,770,988.0018.6x-20.3x0.8x
Price to Earnings Ratio

-20.3x


Total Market Cap: US$27.1bTotal Earnings: -US$1,332,770,988.00Total Revenue: US$34.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Alternative Carriers Industry Price to Earnings3Y Average -6.4x202420252026
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 1.9x is lower than the industry's current PS ratio of 4.1x.
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-3.50%
Telecom-5.65%
Telecom Services and Carriers-1.41%
Alternative Carriers-10.75%
Integrated Telecom Services-0.41%
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$66.428.7%
+US$685.2m		220.7%PS31.3x
LUMN Lumen TechnologiesUS$6.952.4%
+US$163.9m		81.0%PS0.6x
IRDM Iridium CommunicationsUS$27.743.4%
+US$95.5m		1.5%PE25.5x
LILA Liberty Latin AmericaUS$8.644.7%
+US$78.0m		36.3%PS0.4x
BAND BandwidthUS$17.828.1%
+US$41.7m		31.6%PS0.7x

Latest News

LUMN
US$6.95
Lumen Technologies
7D
2.4%
1Y
81.0%

LUMN: Balance Sheet Repair And AI Network Initiatives Will Reshape Turnaround Prospects

Analysts have nudged their price targets on Lumen Technologies higher by about $0.45 on average, citing updated assumptions around fair value, discount rates, revenue trends, profit margins, and a slightly higher future P/E multiple as reflected in recent UBS, Citi, Goldman Sachs, and BofA research. Analyst Commentary Recent Street research on Lumen Technologies reflects a mix of optimism around balance sheet repair and valuation, alongside caution on revenue execution and the pace of any turnaround.
LBTY.A
US$12.09
Liberty Global
7D
-1.5%
1Y
5.0%

LBTY.A: Fiber Deals And Buybacks Will Support Future Upside Potential

Analysts recently raised their price target on Liberty Global to $14 from $13, reflecting updated forecasts and valuation work following the latest company results, along with modest adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts view the move to a US$14 price target as aligned with updated valuation work that reflects the latest company results, suggesting that current pricing screens as broadly in line with their fair value range.
NXPL
US$0.37
NextPlat
7D
-30.9%
1Y
-54.0%
LILA
US$8.64
Liberty Latin America
7D
4.7%
1Y
36.3%

LILA: Higher Assumed P/E Multiple Will Support Future Share Rebound

Analysts have adjusted their price target on Liberty Latin America to $11.90, reflecting updated views on slightly higher revenue growth expectations, a lower projected profit margin, and a higher assumed future P/E multiple. What's in the News Completed share repurchases of 300,000 shares between October 1, 2025 and December 31, 2025 for US$2.51 million, representing 0.15% of the company under the buyback program announced on May 8, 2023 (Key Developments).
IRDM
US$27.74
Iridium Communications
7D
3.4%
1Y
1.5%
CCOI
US$18.84
Cogent Communications Holdings
7D
3.1%
1Y
-69.4%

CCOI: Future Data Center Sales And Refinancing Should Support Balance Sheet Recovery

The analyst price target for Cogent Communications Holdings has been trimmed by around $0.10 to reflect a slightly higher discount rate and modestly lower profit margin assumptions, as analysts react to softer Q4 results, ongoing revenue pressure in off net and wavelength services, and uncertainty around data center sales and balance sheet progress. Analyst Commentary Street research has turned more cautious on Cogent Communications Holdings, with several firms cutting price targets after Q4 results and updates on data center and wavelength activity.
TSAT
US$36.20
Telesat
7D
-8.0%
1Y
102.9%
GSAT
US$66.42
Globalstar
7D
8.7%
1Y
220.7%

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.
ASTS
US$82.87
AST SpaceMobile
7D
-4.7%
1Y
279.3%
BAND
US$17.82
Bandwidth
7D
8.1%
1Y
31.6%
ATEX
US$38.19
Anterix
7D
-5.9%
1Y
4.3%
IQST
US$1.59
iQSTEL
7D
-13.6%
1Y
-86.9%
IOTR
US$2.15
iOThree
7D
25.7%
1Y
n/a
SIFY
US$12.79
Sify Technologies
7D
-7.8%
1Y
190.7%
ELWT
US$5.93
Elauwit Connection
7D
-13.9%
1Y
n/a