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U.S. Wireless Telecom Services Industry Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies21
  • 7D-5.5%
  • 3M-16.5%
  • 1Y-11.3%
  • YTDn/a

Over the last 7 days, the Wireless Telecom Services industry has dropped 5.5%, driven by a pullback from T-Mobile US of 5.7%. Meanwhile, Millicom International Cellular actually outperformed within the industry, gaining 14% in the last week. Overall the industry is down 11% in 12 months. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 19 Jan 2026US$236.0bUS$106.5bUS$14.0b16.9x16.9x2.2x
Wed, 17 Dec 2025US$245.1bUS$106.5bUS$14.0b17.6x17.5x2.3x
Fri, 14 Nov 2025US$262.5bUS$106.4bUS$14.2b13.7x18.5x2.5x
Sun, 12 Oct 2025US$282.0bUS$104.3bUS$14.3b18.9x19.7x2.7x
Tue, 09 Sep 2025US$309.7bUS$104.3bUS$14.3b20.9x21.6x3x
Thu, 07 Aug 2025US$290.1bUS$102.7bUS$12.8b22x22.6x2.8x
Sat, 05 Jul 2025US$292.9bUS$101.4bUS$12.5b19.6x23.4x2.9x
Mon, 02 Jun 2025US$294.8bUS$101.4bUS$12.5b18x23.5x2.9x
Wed, 30 Apr 2025US$288.4bUS$101.6bUS$12.4b14.8x23.2x2.8x
Fri, 28 Mar 2025US$318.7bUS$102.8bUS$12.2b10.2x26.1x3.1x
Sun, 23 Feb 2025US$321.0bUS$102.8bUS$12.2b11.1x26.2x3.1x
Tue, 21 Jan 2025US$272.1bUS$101.5bUS$10.8b13.7x25.3x2.7x
Thu, 19 Dec 2024US$272.6bUS$101.5bUS$10.7b22.4x25.4x2.7x
Sat, 16 Nov 2024US$292.2bUS$101.4bUS$10.4b9.9x28x2.9x
Mon, 14 Oct 2024US$263.3bUS$100.7bUS$9.7b14.9x27.2x2.6x
Wed, 11 Sep 2024US$242.2bUS$100.7bUS$9.7b15.1x25x2.4x
Fri, 09 Aug 2024US$235.9bUS$100.6bUS$9.8b19.5x24.2x2.3x
Sun, 07 Jul 2024US$225.6bUS$100.4bUS$9.1b13x24.8x2.2x
Tue, 04 Jun 2024US$220.8bUS$100.4bUS$8.8b20.5x25.2x2.2x
Thu, 02 May 2024US$203.2bUS$99.9bUS$8.8b20.3x23.2x2x
Sat, 30 Mar 2024US$204.5bUS$100.2bUS$8.1b20.5x25.2x2x
Mon, 26 Feb 2024US$204.6bUS$97.5bUS$8.1b21.7x25.1x2.1x
Wed, 24 Jan 2024US$202.2bUS$100.9bUS$8.3b11.9x24.3x2x
Fri, 22 Dec 2023US$190.4bUS$100.9bUS$8.3b14.5x22.9x1.9x
Sun, 19 Nov 2023US$182.6bUS$100.8bUS$8.3b15.4x21.9x1.8x
Tue, 17 Oct 2023US$180.8bUS$100.9bUS$6.7b7x27.1x1.8x
Thu, 14 Sep 2023US$179.2bUS$100.9bUS$6.7b6.9x26.9x1.8x
Sat, 12 Aug 2023US$175.2bUS$100.0bUS$6.4b7.1x27.3x1.8x
Mon, 10 Jul 2023US$176.0bUS$99.7bUS$4.0b18.5x43.7x1.8x
Wed, 07 Jun 2023US$163.2bUS$99.7bUS$4.2b22.8x38.4x1.6x
Fri, 05 May 2023US$179.3bUS$104.0bUS$3.9b44.4x45.9x1.7x
Sun, 02 Apr 2023US$186.6bUS$104.5bUS$2.7b50.5x69.2x1.8x
Tue, 28 Feb 2023US$186.4bUS$104.4bUS$2.8b34.7x65.9x1.8x
Thu, 26 Jan 2023US$195.1bUS$105.3bUS$2.4b22.5x80.6x1.9x
Price to Earnings Ratio

80.6x


Total Market Cap: US$195.1bTotal Earnings: US$2.4bTotal Revenue: US$105.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Wireless Telecom Services Industry Price to Earnings3Y Average 29.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American Wireless Telecommunication Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 16.9x which is lower than its 3-year average PE of 29.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Wireless Telecommunication Services industry have grown 79% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Wireless Telecom Services compare with similar industries?

US Market-0.29%
Telecom-1.38%
Wireless Telecom-5.47%
Wireless Telecom Services-5.47%
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
TIGO Millicom International CellularUS$58.7114.3%
+US$1.2b		117.4%PE8.9x
AD Array Digital InfrastructureUS$57.809.6%
+US$435.4m		-9.8%PE26.7x
TDS Telephone and Data SystemsUS$44.766.1%
+US$298.1m		24.0%PE91.8x
VEON VEONUS$54.504.8%
+US$172.5m		18.5%PE5.8x
SPOK Spok HoldingsUS$13.150.3%
+US$823.9k		-17.4%PE16.3x

Latest News

TIGO
US$58.71
Millicom International Cellular
7D
14.3%
1Y
117.4%

TIGO: Elevated Expectations Around Telefonica Chile Bid Will Likely Pressure Future Returns

Analysts have raised their fair value estimate for Millicom International Cellular to US$46.80 from US$36.00, citing updated assumptions on revenue growth, profit margins and a lower forward P/E in light of recent positive research and higher Street price targets. Analyst Commentary Recent research coverage on Millicom International Cellular has leaned supportive, with some high profile firms maintaining constructive views on the shares and on the company´s positioning in Latin America.
TMUS
US$186.32
T-Mobile US
7D
-5.7%
1Y
-14.9%

TMUS: 5G Coverage And Cash Returns Will Support Future Outperformance

The analyst fair value estimate for T-Mobile US has shifted from US$277.08 to US$268.22 as analysts update price targets across the sector, balancing stronger revenue and margin assumptions with a lower future P/E and mixed views on competitive intensity and cash flow growth. Analyst Commentary Recent research on T-Mobile US reflects a mix of optimism around execution and cash generation, alongside more cautious views on valuation, industry competition, and certain cash flow exposures.
FNGR
US$1.13
FingerMotion
7D
-10.3%
1Y
-4.2%
SURG
US$1.90
SurgePays
7D
-6.9%
1Y
22.6%
AD
US$57.80
Array Digital Infrastructure
7D
9.6%
1Y
-9.8%
GOGO
US$4.80
Gogo
7D
-8.0%
1Y
-38.9%
KYIV
US$12.14
Kyivstar Group
7D
-2.9%
1Y
18.6%
KORE
US$4.75
KORE Group Holdings
7D
-3.1%
1Y
135.1%

KORE: US$5 Offer Will Define Near Term Path And Deal Risk

Analysts have reset their price target on KORE Group Holdings to US$5.00 from US$9.00, pointing to the US$5.00 per share non binding offer as both a reference point and an effective cap on near term upside. Analyst Commentary Recent commentary around KORE Group Holdings has focused heavily on the US$5.00 per share non binding offer, which is shaping both how analysts think about upside and how they frame the risks.
SPOK
US$13.15
Spok Holdings
7D
0.3%
1Y
-17.4%
UCL
US$1.68
uCloudlink Group
7D
-0.6%
1Y
8.4%
VEON
US$54.50
VEON
7D
4.8%
1Y
18.5%

VEON: AI And Satellite Connectivity Will Support Emerging Markets Upside

Analysts now see room for a higher valuation on VEON, raising their price target to align with a fair value of US$76.68. This view is supported by updated assumptions for slightly stronger revenue growth, higher profit margins and a lower future P/E multiple.
TDS
US$44.76
Telephone and Data Systems
7D
6.1%
1Y
24.0%

TDS: Future Upside Will Depend On Completing Pending Spectrum Divestitures

Analysts modestly raised their price target on Telephone and Data Systems to about $48.67, citing the company’s ongoing transformation efforts, including the sale of its wireless operations and spectrum divestitures, as key drivers of potential additional shareholder value. Analyst Commentary Analysts highlight that the renewed coverage and updated price target reflect growing confidence in Telephone and Data Systems’ ability to execute its strategic transformation, while also underscoring several execution and valuation risks that could limit upside if not addressed.