undamentalytics Newsletter

Communications Equipment stocks

46 US-listed companies in communications equipment, with $139.4bn of combined revenue in their latest fiscal years. Cisco is the largest ($63.3bn). The fastest grower with at least $100m of revenue in both years is Lumentum, up 83.2%. The median company grew 6.2% with a net margin of 2.6%.

Companies46
Combined revenue$139.4bn
Median revenue growth6.2%
Median net margin2.6%
Median return on equity4.5%
#CompanyRevenueGrowthNet marginROEFiscal year
1 CiscoCSCO $63.3bn 11.8% 21.0% 27.3% 2026
2 Ericsson LM Telephone CoERIC $24.2bn 3.2% 12.0% 28.5% 2025
3 Motorola SolutionsMSI $11.7bn 8.0% 18.4% 104.7% 2025
4 Arista NetworksANET $9.0bn 28.6% 39.0% 31.4% 2025
5 CienaCIEN $4.8bn 18.8% 2.6% 4.4% 2025
6 Viasat IncVSAT $4.6bn 2.7% −0.7% −0.7% 2026
7 Ubiquiti Inc.UI $3.3bn 27.2% 29.3% 91.1% 2026
8 F5, Inc.FFIV $3.1bn 9.7% 22.4% 20.6% 2025
9 LumentumLITE $3.0bn 83.2% −230.1% — 2026
10 Vistance Networks, Inc.VISN $1.9bn 39.7% 118.2% — 2025
11 Extreme Networks IncEXTR $1.3bn 12.6% 3.3% 54.6% 2026
12 Adtran Holdings, Inc.ADTN $1.1bn 17.5% −4.2% −33.5% 2025
13 Calix, IncCALX $1.0bn 20.3% 1.8% 2.2% 2025
14 Netscout Systems IncNTCT $859m 4.5% 11.1% 6.0% 2026
15 Ribbon Communications Inc.RBBN $845m 1.3% 4.7% 9.3% 2025
16 Netgear, Inc.NTGR $700m 3.8% −2.6% −3.5% 2025
17 Applied Optoelectronics, Inc.AAOI $456m 82.8% −8.4% −7.9% 2025
18 Gilat Satellite Networks LTDGILT $452m 47.9% 4.6% 5.2% 2025
19 Aviat Networks, Inc.AVNW $440m 1.2% 0.6% 1.0% 2026
20 Digi International IncDGII $430m 1.5% 9.5% 6.7% 2025
21 Harmonic Inc.HLIT $361m −26.2% −12.0% −10.2% 2025
22 Ceragon Networks LTDCRNT $339m −14.1% −0.6% −1.2% 2025
23 Telesat CorpTSAT $299m −28.2% −37.2% −25.3% 2025
24 A10 Networks, Inc.ATEN $291m 11.0% 14.5% 19.0% 2025
25 Comtech Telecommunications CorpCMTL $250m −17.0% −14.5% −50.5% 2026
26 Audiocodes LTDAUDC $246m 1.4% 3.6% 4.9% 2025
27 Inseego Corp.INSG $166m −13.1% 0.5% — 2025
28 Clearfield, Inc.CLFD $150m 19.6% −5.4% −3.0% 2025
29 Lantronix IncLTRX $121m −1.6% −3.5% −4.3% 2026
30 KVH Industries Inc \de\KVHI $111m −2.5% −6.7% −5.5% 2025
31 Allot Ltd.ALLT $102m 10.6% 3.6% 4.5% 2025
32 BK Technologies CorpBKTI $86m 12.5% 15.7% 36.3% 2025
33 Radcom LTDRDCM $71m 17.2% 16.8% 11.4% 2025
34 Silicom LTD.SILC $62m 6.6% −18.5% −9.4% 2025
35 Airgain IncAIRG $52m −14.6% −12.4% −21.7% 2025
36 Ondas Inc.ONDS $51m 605.3% −260.7% −58.2% 2025
37 BOS Better Online Solutions LTDBOSC $51m 26.6% 7.1% 14.4% 2025
38 Franklin Wireless CorpFKWL $37m −20.8% −13.0% −14.9% 2026
39 Amplitech Group, Inc.AMPG $25m 165.0% −27.8% −19.9% 2025
40 Fatpipe IncFATN $19m 17.9% 25.9% 24.2% 2026
41 Iothree LtdIOTR $15m 40.4% −7.9% −37.4% 2026
42 Tianci International, Inc.CIIT $9m 7.7% −28.4% −141.7% 2025
43 Intrusion IncINTZ $7m 21.6% −129.1% −133.9% 2025
44 Silynxcom Ltd.SYNX $6m −36.2% −52.8% −55.8% 2025
45 Nextnav Inc.NN $5m −19.3% −4138.5% — 2025
46 Clearone IncCLRO $0 — — — 2025

Medians cover companies with at least $100m of revenue (growth: in both years). Growth is the latest fiscal year against the year before and includes acquisitions.

Other technology industries

Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.