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U.S. Alternative Carriers Industry Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies27
  • 7D-6.6%
  • 3M10.8%
  • 1Y130.8%
  • YTDn/a

Over the last 7 days, the Alternative Carriers industry has dropped 4.2%, driven by AST SpaceMobile declining 6.6%. On the other hand Iridium Communications is actually up 7.6%. This takes the industry's 12 month performance to a gain of 131%. 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
Sat, 28 Mar 2026US$53.6bUS$12.4b-US$8,080,267,703.1325.7x-6.6x4.3x
Mon, 23 Feb 2026US$49.9bUS$12.4b-US$8,083,657,216.1421x-6.2x4x
Wed, 21 Jan 2026US$61.4bUS$12.3b-US$2,937,337,710.7915.9x-20.9x5x
Fri, 19 Dec 2025US$40.4bUS$12.3b-US$2,935,976,359.1213.8x-13.8x3.3x
Sun, 16 Nov 2025US$40.6bUS$12.3b-US$2,934,093,769.5513.8x-13.8x3.3x
Tue, 14 Oct 2025US$46.3bUS$12.1b-US$4,805,104,246.9117.6x-9.6x3.8x
Thu, 11 Sep 2025US$28.5bUS$12.1b-US$4,806,106,240.0216.8x-5.9x2.4x
Sat, 09 Aug 2025US$29.3bUS$12.1b-US$4,852,756,190.7349.3x-6x2.4x
Mon, 07 Jul 2025US$29.6bUS$11.9b-US$1,333,261,456.7849.7x-22.2x2.5x
Wed, 04 Jun 2025US$19.7bUS$11.9b-US$1,351,312,547.3347.2x-14.6x1.6x
Fri, 02 May 2025US$22.3bUS$12.6bUS$566.4m21.1x39.4x1.8x
Sun, 30 Mar 2025US$23.9bUS$12.5bUS$565.0m26.6x42.3x1.9x
Tue, 25 Feb 2025US$25.0bUS$12.1bUS$910.2m62.8x27.5x2.1x
Thu, 23 Jan 2025US$24.2bUS$15.4b-US$4,987,489,908.8989.8x-4.8x1.6x
Sat, 21 Dec 2024US$24.3bUS$15.4b-US$4,980,850,344.0374.5x-4.9x1.6x
Mon, 18 Nov 2024US$24.6bUS$15.4b-US$4,980,832,655.4573x-4.9x1.6x
Wed, 16 Oct 2024US$27.6bUS$15.3b-US$2,262,966,908.0284.9x-12.2x1.8x
Fri, 13 Sep 2024US$26.9bUS$15.3b-US$2,262,969,226.0774.5x-11.9x1.8x
Sun, 11 Aug 2024US$24.7bUS$15.3b-US$2,225,191,668.0874x-11.1x1.6x
Tue, 09 Jul 2024US$21.4bUS$15.2b-US$1,804,730,062.95118.6x-11.8x1.4x
Thu, 06 Jun 2024US$20.5bUS$15.2b-US$1,779,777,069.27109.4x-11.5x1.3x
Sat, 04 May 2024US$19.3bUS$15.7b-US$1,793,922,488.0870.6x-10.7x1.2x
Mon, 01 Apr 2024US$19.4bUS$15.6b-US$3,010,916,436.0183.9x-6.4x1.2x
Wed, 28 Feb 2024US$20.9bUS$15.5b-US$3,156,334,108.53139x-6.6x1.3x
Fri, 26 Jan 2024US$25.4bUS$32.0b-US$15,453,228,439.0013.3x-1.6x0.8x
Sun, 24 Dec 2023US$26.4bUS$32.0b-US$15,448,939,237.0012.9x-1.7x0.8x
Tue, 21 Nov 2023US$23.3bUS$32.0b-US$15,448,994,376.0010.3x-1.5x0.7x
Thu, 19 Oct 2023US$24.6bUS$32.8b-US$13,163,144,258.008.4x-1.9x0.8x
Sat, 16 Sep 2023US$27.3bUS$32.8b-US$13,163,128,531.0010.2x-2.1x0.8x
Mon, 14 Aug 2023US$28.6bUS$32.8b-US$13,167,483,001.0010.9x-2.2x0.9x
Wed, 12 Jul 2023US$26.1bUS$33.1b-US$3,283,771,794.0031.2x-7.9x0.8x
Fri, 09 Jun 2023US$26.4bUS$33.1b-US$3,311,111,984.0022.2x-8x0.8x
Sun, 07 May 2023US$26.8bUS$33.2b-US$1,391,407,432.0014.4x-19.2x0.8x
Tue, 04 Apr 2023US$27.8bUS$34.0b-US$1,335,405,434.0019.3x-20.8x0.8x
Price to Earnings Ratio

-20.8x


Total Market Cap: US$27.8bTotal Earnings: -US$1,335,405,434.00Total 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 4.7x.
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-1.92%
Telecom-7.00%
Telecom Services and Carriers0.13%
Alternative Carriers-6.55%
Integrated Telecom Services0.87%
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$64.169.2%
+US$698.1m		201.5%PS30.2x
IRDM Iridium CommunicationsUS$27.9610.1%
+US$268.7m		1.5%PE25.7x
LUMN Lumen TechnologiesUS$6.672.8%
+US$184.4m		69.3%PS0.6x
LILA Liberty Latin AmericaUS$8.336.7%
+US$104.0m		29.9%PS0.4x
LBTY.A Liberty GlobalUS$11.972.4%
+US$93.8m		4.1%PS0.8x

Latest News

NXPL
US$0.47
NextPlat
7D
-3.5%
1Y
-44.4%
IRDM
US$27.96
Iridium Communications
7D
10.1%
1Y
1.5%
LBTY.A
US$11.97
Liberty Global
7D
2.4%
1Y
4.1%
CCOI
US$17.62
Cogent Communications Holdings
7D
-2.4%
1Y
-71.4%

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$37.04
Telesat
7D
-0.05%
1Y
94.1%
GSAT
US$64.16
Globalstar
7D
9.2%
1Y
201.5%

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$6.67
Lumen Technologies
7D
2.8%
1Y
69.3%

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.
LILA
US$8.33
Liberty Latin America
7D
6.7%
1Y
29.9%

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$78.67
AST SpaceMobile
7D
-12.5%
1Y
227.0%
BAND
US$16.86
Bandwidth
7D
9.1%
1Y
26.1%
ATEX
US$38.24
Anterix
7D
-2.8%
1Y
6.9%
IQST
US$1.50
iQSTEL
7D
-12.8%
1Y
-87.0%
IOTR
US$2.23
iOThree
7D
42.9%
1Y
n/a
SIFY
US$12.90
Sify Technologies
7D
-7.1%
1Y
193.8%
ELWT
US$6.61
Elauwit Connection
7D
-0.9%
1Y
n/a