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U.S. Telecom Services and Carriers Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies58
  • 7D4.1%
  • 3M-16.8%
  • 1Y-13.1%
  • YTD-0.6%

Over the last 7 days, the Telecom Services and Carriers industry has risen 4.1%, driven by gains from Space Exploration Technologies of 5.9%. During this same period, the Verizon Communications underperformed, falling 7.6%. However, the industry is down 13% over the past year. As for the next few years, earnings are expected to grow by 57% per annum.

Industry Valuation and Performance

Has the U.S. Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026US$2.5tUS$426.5bUS$41.4b17.9x61.6x6x
Sun, 31 May 2026US$540.7bUS$410.3bUS$51.3b14.2x10.5x1.3x
Tue, 28 Apr 2026US$535.9bUS$409.0bUS$49.5b12.6x10.8x1.3x
Thu, 26 Mar 2026US$580.7bUS$406.4bUS$51.3b13.5x11.3x1.4x
Sat, 21 Feb 2026US$571.1bUS$406.4bUS$50.8b9.7x11.2x1.4x
Mon, 19 Jan 2026US$508.8bUS$410.1bUS$61.1b9.6x8.3x1.2x
Wed, 17 Dec 2025US$403.2bUS$284.0bUS$38.4b9.2x10.5x1.4x
Fri, 14 Nov 2025US$416.9bUS$287.7bUS$38.2b9.1x10.9x1.4x
Sun, 12 Oct 2025US$420.3bUS$286.4bUS$25.5b14x16.5x1.5x
Tue, 09 Sep 2025US$451.0bUS$286.5bUS$25.5b15.2x17.7x1.6x
Thu, 07 Aug 2025US$430.1bUS$286.4bUS$25.8b15.5x16.7x1.5x
Sat, 05 Jul 2025US$435.8bUS$282.4bUS$27.5b17.9x15.8x1.5x
Mon, 02 Jun 2025US$422.7bUS$282.3bUS$27.5b17x15.4x1.5x
Wed, 30 Apr 2025US$415.1bUS$283.2bUS$29.4b13x14.1x1.5x
Fri, 28 Mar 2025US$427.9bUS$281.8bUS$28.1b10.8x15.2x1.5x
Sun, 23 Feb 2025US$413.9bUS$281.3bUS$28.5b15.4x14.5x1.5x
Tue, 21 Jan 2025US$364.8bUS$283.6bUS$13.1b18.1x27.8x1.3x
Thu, 19 Dec 2024US$379.1bUS$284.8bUS$12.9b18.6x29.4x1.3x
Sat, 16 Nov 2024US$372.9bUS$281.4bUS$13.3b18.9x28.1x1.3x
Mon, 14 Oct 2024US$374.0bUS$281.4bUS$21.2b18.4x17.6x1.3x
Wed, 11 Sep 2024US$372.9bUS$281.4bUS$21.2b18.8x17.6x1.3x
Fri, 09 Aug 2024US$341.7bUS$281.3bUS$22.4b15.2x15.3x1.2x
Sun, 07 Jul 2024US$339.5bUS$281.1bUS$22.7b23x15x1.2x
Tue, 04 Jun 2024US$334.4bUS$281.1bUS$22.7b27.5x14.7x1.2x
Thu, 02 May 2024US$315.3bUS$281.7bUS$21.5b27.3x14.7x1.1x
Sat, 30 Mar 2024US$331.4bUS$281.7bUS$22.5b28.1x14.7x1.2x
Mon, 26 Feb 2024US$321.8bUS$283.7bUS$20.7b22.8x15.6x1.1x
Wed, 24 Jan 2024US$325.2bUS$299.8b-US$16,648,702,739.0015.3x-19.5x1.1x
Fri, 22 Dec 2023US$312.3bUS$300.0b-US$7,362,256,559.0012.7x-42.4x1x
Sun, 19 Nov 2023US$301.3bUS$300.0b-US$7,363,750,550.0010.1x-40.9x1x
Tue, 17 Oct 2023US$269.4bUS$301.0b-US$2,071,375,024.008.7x-130.1x0.9x
Thu, 14 Sep 2023US$283.6bUS$301.1b-US$2,062,117,552.009.5x-137.5x0.9x
Sat, 12 Aug 2023US$283.3bUS$301.0b-US$996,860,238.0010.1x-284.2x0.9x
Mon, 10 Jul 2023US$300.9bUS$302.2bUS$9.5b11.8x31.5x1x
Price to Earnings Ratio

31.5x


Total Market Cap: US$300.9bTotal Earnings: US$9.5bTotal Revenue: US$302.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Telecom Services and Carriers Industry Price to Earnings3Y Average 0.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 61.6x which is higher than its 3-year average PE of 0.76x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Telecom industry?

US Market1.38%
Telecom4.87%
Telecom Services and Carriers4.10%
Alternative Carriers6.21%
Integrated Telecom Services-5.77%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry even though it's trading below its 3-year average PE ratio of 15.2x.
    • Analysts are expecting annual earnings growth of 0.3%, which is higher than its past year's earnings decline of 2.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Alternative Carriers industry, expecting annual earnings growth of 68% over the next 5 years.
  • This is better than its past earnings decline of 12% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SPCX Space Exploration TechnologiesUS$162.005.9%
+US$118.6b		n/aPS110.6x
ASTS AST SpaceMobileUS$85.1329.7%
+US$5.8b		86.7%PS299.4x
CMCSA ComcastUS$23.792.7%
+US$2.2b		-33.9%PE4.5x
IRDM Iridium CommunicationsUS$53.7523.5%
+US$1.1b		69.0%PE53.8x
ATEX AnterixUS$105.1417.3%
+US$301.6m		316.7%PE22.6x

Latest News

VZ
US$42.56
Verizon Communications
7D
-7.6%
1Y
-2.3%
ATEX
US$105.14
Anterix
7D
17.3%
1Y
316.7%
SPCX
US$162.00
Space Exploration Technologies
7D
5.9%
1Y
n/a
Seeking Alpha • 15h

SpaceX: A Buy For The Optimist, A Sell For The Realist

Summary Space Exploration Technologies Corp., aka SpaceX, is rated a clear Sell due to its extreme valuation—$2 trillion market cap on $19 billion TTM revenue and negative operating margins. Despite Starlink’s rapid growth and profitability, it represents only about 21% of SPCX’s market cap, with high satellite replacement costs dulling its standalone appeal. SPCX’s dominant market share and technological lead face erosion risks as competitors like RKLB, AMZN, and others invest heavily to gain share. Even with optimistic growth forecasts, SPCX's forward multiples remain stretched (2030 EV/Sales 10.91x, P/E 53x), and no clear path to sustainable profitability is visible. Read the full article on Seeking Alpha
BAND
US$61.60
Bandwidth
7D
17.7%
1Y
283.8%
Seeking Alpha • Jul 02

Bandwidth Is Building A Stronger AI Growth Story

Summary Bandwidth is entering a new growth phase, targeting 18% revenue growth to $880–900 million in 2026, driven by enterprise AI adoption. Margins and profitability are improving, with 2026 adjusted EBITDA guidance of $119–125 million and non-GAAP gross margin reaching 59% in Q1 2026. Major enterprise AI wins, including Salesforce Agentforce and financial services contracts, are fueling higher average revenue per customer and commercial momentum. Issuing a buy rating, I see upside potential if BAND sustains growth, manages capital structure risks, and achieves consistent GAAP profitability. Read the full article on Seeking Alpha
LILA
US$7.62
Liberty Latin America
7D
8.9%
1Y
17.4%
ASTS
US$85.13
AST SpaceMobile
7D
29.7%
1Y
86.7%
ATNI
US$24.81
ATN International
7D
-8.2%
1Y
41.9%
IRDM
US$53.75
Iridium Communications
7D
23.5%
1Y
69.0%
Narrative Update • Jul 01

IRDM: Rocket Lab Deal And Spectrum Assets Will Shape Future Risk Reward Balance

Analysts have lifted the implied fair value estimate for Iridium Communications from $48.00 to $60.00, reflecting a higher consolidated deal value following Rocket Lab's agreed $54.00 per share acquisition price and broader Street support for the industrial logic of combining Iridium's spectrum and on orbit services with Rocket Lab's launch and spacecraft platform. Analyst Commentary Street research on Iridium Communications is centering on how the agreed acquisition by Rocket Lab could reshape the combined space platform, with several bullish analysts highlighting spectrum assets, recurring service revenue and integration with launch and spacecraft capabilities as key drivers of the higher implied fair value.
UNIT
US$10.75
Uniti Group
7D
-6.2%
1Y
49.0%
Narrative Update • Jul 01

UNIT: Fiber And AI Connectivity Demand Will Reshape Earnings Mix Over Time

The updated analyst price target for Uniti Group has increased from $10.77 to $16.00. Analysts attribute this change to revised growth expectations and favorable sector conditions in communications infrastructure.
LUMN
US$6.43
Lumen Technologies
7D
-22.7%
1Y
39.8%
Narrative Update • Jul 01

LUMN: Revised Fair Value And Execution Risks Will Shape Future Returns

The analyst price target for Lumen Technologies has increased from $6.00 to $7.00. Analysts cite updated fair value assumptions, a revised discount rate, and refreshed expectations for revenue trends, profit margins, and future P/E multiples to support the change.
CMCSA
US$23.79
Comcast
7D
2.7%
1Y
-33.9%
Narrative Update • Jun 30

CMCSA: Broadband Pricing Reset Will Restrain Returns Despite NBCUniversal Spin Off

The analyst fair value estimate for Comcast has been revised modestly higher to about $22.22 per share from roughly $21.50, reflecting fresh Buy ratings and higher $31 to $32 price targets tied to the planned NBCUniversal spin-off and renewed focus on the broadband business. Analyst Commentary Recent research on Comcast highlights a mix of renewed optimism around the planned NBCUniversal spin off and lingering caution around broadband growth, competition, and earnings visibility.
T
US$20.58
AT&T
7D
-8.2%
1Y
-27.4%
CCOI
US$12.99
Cogent Communications Holdings
7D
-3.1%
1Y
-74.2%
LBTY.A
US$11.30
Liberty Global
7D
-0.7%
1Y
13.5%
GLIB.A
US$22.81
Liberty Capital
7D
11.7%
1Y
n/a
SHEN
US$13.55
Shenandoah Telecommunications
7D
-9.8%
1Y
-6.0%
Narrative Update • Jun 24

SHEN: Rural Broadband Expansion And Bullish Coverage Will Support Future Upside

Analysts have revised their price target for Shenandoah Telecommunications to $27.50. While the fair value estimate remains at $27.50, the updated assumptions reflect a slightly lower discount rate, adjusted profit margin expectations, and a higher future P/E multiple supported by recent bullish research coverage.