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U.S. Alternative Carriers Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies27
  • 7D-3.8%
  • 3M11.8%
  • 1Y120.5%
  • YTDn/a

Over the last 7 days, the Alternative Carriers industry has dropped 3.8%, driven by AST SpaceMobile declining 7.6%. In the past year, the industry has gained 120%. As for the next few years, earnings are expected to grow by 95% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026US$53.2bUS$12.5b-US$8,081,831,734.6224.1x-6.6x4.3x
Thu, 19 Feb 2026US$50.8bUS$12.3b-US$2,964,699,540.2521.2x-17.1x4.1x
Sat, 17 Jan 2026US$61.8bUS$12.3b-US$2,936,733,823.2015.8x-21x5x
Mon, 15 Dec 2025US$48.6bUS$12.3b-US$2,936,024,906.5515.6x-16.6x4x
Wed, 12 Nov 2025US$42.7bUS$12.3b-US$3,001,069,946.2013.9x-14.2x3.5x
Fri, 10 Oct 2025US$46.7bUS$12.1b-US$4,805,139,844.9718.5x-9.7x3.9x
Sun, 07 Sep 2025US$30.2bUS$12.1b-US$4,806,162,666.5923.6x-6.3x2.5x
Tue, 05 Aug 2025US$30.8bUS$12.2b-US$4,465,295,777.2750.8x-6.9x2.5x
Thu, 03 Jul 2025US$29.0bUS$11.9b-US$1,333,338,033.4749.5x-21.7x2.4x
Sat, 31 May 2025US$19.5bUS$11.7b-US$1,344,337,395.9150.3x-14.5x1.7x
Mon, 28 Apr 2025US$21.8bUS$12.6bUS$566.5m20.3x38.6x1.7x
Wed, 26 Mar 2025US$26.5bUS$12.6bUS$660.6m18.3x40.1x2.1x
Fri, 21 Feb 2025US$26.4bUS$12.1bUS$910.2m64.5x29x2.2x
Sun, 19 Jan 2025US$23.1bUS$15.4b-US$4,987,486,771.9387.4x-4.6x1.5x
Tue, 17 Dec 2024US$25.1bUS$15.4b-US$4,980,849,175.7175.6x-5x1.6x
Thu, 14 Nov 2024US$32.4bUS$15.4b-US$4,807,292,122.4275.9x-6.7x2.1x
Sat, 12 Oct 2024US$27.0bUS$15.3b-US$2,262,966,229.9783.3x-11.9x1.8x
Mon, 09 Sep 2024US$19.5bUS$7.7b-US$210,368,420.5175.7x-92.7x2.5x
Wed, 07 Aug 2024US$23.4bUS$15.3b-US$968,036,654.3336x-24.2x1.5x
Fri, 05 Jul 2024US$20.9bUS$15.2b-US$1,804,730,416.84119.1x-11.6x1.4x
Sun, 02 Jun 2024US$20.3bUS$15.2b-US$1,779,776,723.39109.4x-11.4x1.3x
Tue, 30 Apr 2024US$19.2bUS$15.6b-US$3,025,322,986.0980.3x-6.4x1.2x
Thu, 28 Mar 2024US$19.2bUS$15.6b-US$3,012,321,372.2983.9x-6.4x1.2x
Sat, 24 Feb 2024US$20.8bUS$15.5b-US$2,919,833,832.0744.8x-7.1x1.3x
Mon, 22 Jan 2024US$25.5bUS$32.0b-US$15,452,205,410.0013.9x-1.6x0.8x
Wed, 20 Dec 2023US$25.4bUS$32.0b-US$15,448,775,952.0012.7x-1.6x0.8x
Fri, 17 Nov 2023US$23.0bUS$32.0b-US$15,449,333,854.009.9x-1.5x0.7x
Sun, 15 Oct 2023US$24.2bUS$32.8b-US$13,163,143,432.008.3x-1.8x0.7x
Tue, 12 Sep 2023US$26.9bUS$32.8b-US$13,163,115,326.0010.5x-2x0.8x
Thu, 10 Aug 2023US$25.1bUS$32.1b-US$14,290,493,344.0014.2x-1.8x0.8x
Sat, 08 Jul 2023US$26.0bUS$33.1b-US$3,283,795,569.0028.6x-7.9x0.8x
Mon, 05 Jun 2023US$25.5bUS$33.1b-US$3,311,106,528.0022.4x-7.7x0.8x
Wed, 03 May 2023US$26.4bUS$34.1b-US$1,328,201,833.0015.2x-19.9x0.8x
Fri, 31 Mar 2023US$27.6bUS$34.0b-US$1,330,626,739.0019.3x-20.7x0.8x
Price to Earnings Ratio

-20.7x


Total Market Cap: US$27.6bTotal Earnings: -US$1,330,626,739.00Total 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 4.3x.
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-1.74%
Telecom-2.65%
Telecom Services and Carriers-0.24%
Alternative Carriers-3.80%
Integrated Telecom Services0.14%
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$60.603.0%
+US$227.5m		158.8%PS28.5x
IRDM Iridium CommunicationsUS$26.305.2%
+US$137.5m		-6.7%PE24.1x
LILA Liberty Latin AmericaUS$8.175.3%
+US$82.0m		22.9%PS0.4x
LUMN Lumen TechnologiesUS$6.771.2%
+US$81.9m		39.3%PS0.6x
TSAT TelesatUS$40.7114.7%
+US$78.9m		88.6%PS2x

Latest News

CCOI
US$18.85
Cogent Communications Holdings
7D
-2.5%
1Y
-72.3%
IRDM
US$26.30
Iridium Communications
7D
5.2%
1Y
-6.7%

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$40.71
Telesat
7D
14.7%
1Y
88.6%
GSAT
US$60.60
Globalstar
7D
3.0%
1Y
158.8%

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$6.77
Lumen Technologies
7D
1.2%
1Y
39.3%

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$12.08
Liberty Global
7D
-0.7%
1Y
4.6%

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$8.17
Liberty Latin America
7D
5.3%
1Y
22.9%

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$88.42
AST SpaceMobile
7D
-7.6%
1Y
209.7%
BAND
US$16.53
Bandwidth
7D
10.7%
1Y
8.3%
ATEX
US$38.62
Anterix
7D
6.1%
1Y
1.3%
IQST
US$1.79
iQSTEL
7D
-6.8%
1Y
-84.6%
IOTR
US$1.67
iOThree
7D
-19.3%
1Y
n/a
SIFY
US$14.29
Sify Technologies
7D
5.6%
1Y
214.8%
ELWT
US$6.90
Elauwit Connection
7D
-0.7%
1Y
n/a