20-quarter listed-company comparison

Communication Equipment Stocks

Communication Equipment: Cisco Systems, Inc. owns the largest revenue base; AST SpaceMobile, Inc. has the fastest current growth.

01 · the industry itself · before any single company

How has Communication Equipment moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 199% ahead of S&P 500. Earnings across its companies grew 12% on average over the last four reported quarters.

BASING · +2 joined~Price and the fundamentals both up8 of 30 companies ahead of S&P 500 by 5% or more over three months4 are 20% or more behind over a year while earnings grew 20% or more

RS — · 13/30 >200d (−5) · 8/30 lead (+2) · EPS 18/30↑

Communication Equipment, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 30 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is Communication Equipment outperforming S&P 500?

Communication Equipment has outperformed S&P 500 by 41.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 10.1%. 14 of 29 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Hewlett Packard Enterprise Company is the strongest against the sector itself at +55%.

-10.1%Sector vs S&P 500 · 13 weeks

+41.9%Sector vs S&P 500 · 52 weeks

14/29Stocks leading S&P 500

12/29Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Communication Equipment has outperformed S&P 500 by 41.9% over 52 weeks and 10.1% over 13 weeks. 14 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 12 of 29 beat the sector itself. Cisco Systems, Inc. leads with revenue of $63,325 million, based on 24 of 29 comparable companies through Sep 2026.

Companies

complete canonical membership

Combined market value

$888.9B

Cisco Systems, Inc.

Revenue growing

20/24

positive TTM year-on-year growth

Beating S&P 500

14/29

positive Mansfield relative strength

Comparing 5 of 29

03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Cisco Systems, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 85.3% evidence confidence.

Zebra Technologies Corporation has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Cisco Systems, Inc.CSCO	71.7/100Favorable setup85% evidence	ASLEEP	24.5/35 Revenue 11.8% · PAT 30.3% · OPM change 6.6 pp 95% evidence	20.4/25 ROCE 18.2% · OPM 27.7% 76% evidence	12.4/20 P/E 33.9× · PEG 1.09 65% evidence	14.4/20 RS sector 2.9% · RS bench 11.1% · 1Y 58%6 of 12 weeks ahead 100% evidence
Exact sum: 24.5 + 20.4 + 12.4 + 14.4 = 71.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Hewlett Packard Enterprise CompanyHPE	63.3/100Mixed-positive evidence74% evidence	LEADER	25.2/35 Revenue 22.6% · PAT 6.9% · OPM change 21.5 pp 62% evidence	12.0/25 ROCE 1.6% · OPM 7% 76% evidence	6.5/20 P/E 26.9× · PEG 3.33 65% evidence	19.6/20 RS sector 55% · RS bench 65% · 1Y 126.8%11 of 12 weeks ahead 100% evidence
Exact sum: 25.2 + 12 + 6.5 + 19.6 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Lumentum Holdings Inc.LITE	63.2/100Mixed-positive evidence64% evidence	TURNING	25.6/35 Revenue 83.2% · PAT — · OPM change 29.5 pp 62% evidence	14.1/25 ROCE 6.5% · OPM 27.8% 76% evidence	9.0/20 P/E 130.1× · PEG — 15% evidence	14.5/20 RS sector 38.3% · RS bench 42.2% · 1Y 444.7%1 of 12 weeks ahead 100% evidence
Exact sum: 25.6 + 14.1 + 9 + 14.5 = 63.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Ubiquiti Inc.UI	62.0/100Mixed-positive evidence66% evidence	BASING	22.0/35 Revenue 33.4% · PAT 71.8% · OPM change 2.7 pp 53% evidence	19.6/25 ROCE 31.6% · OPM 36.9% 57% evidence	14.1/20 P/E 50.8× · PEG 0.6 65% evidence	6.3/20 RS sector -26.2% · RS bench -18.8% · 1Y -10.3%0 of 12 weeks ahead 100% evidence
Exact sum: 22 + 19.6 + 14.1 + 6.3 = 62 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Zebra Technologies CorporationZBRA	59.4/100Thin evidence · provisional56% evidence	BREAKING OUT	17.1/35 Revenue — · PAT — · OPM change 0.2 pp 39% evidence	14.1/25 ROCE 3.3% · OPM 14.4% 76% evidence	10.5/20 P/E 24.5× · PEG — 15% evidence	17.7/20 RS sector 9% · RS bench 21% · 1Y 7.1%12 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 14.1 + 10.5 + 17.7 = 59.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Viasat, Inc.VSAT	54.2/100Thin evidence · provisional51% evidence	TURNING	17.7/35 Revenue 2.7% · PAT — · OPM change 13.3 pp 40% evidence	8.2/25 ROCE 0% · OPM -0.1% 57% evidence	11.3/20 P/E 3.7× · PEG — 15% evidence	17.0/20 RS sector 17.3% · RS bench 24.1% · 1Y 139.6%9 of 12 weeks ahead 100% evidence
Exact sum: 17.7 + 8.2 + 11.3 + 17 = 54.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Motorola Solutions, Inc.MSI	53.7/100Thin evidence · provisional58% evidence	BREAKING OUT	16.0/35 Revenue — · PAT — · OPM change 0.2 pp 45% evidence	16.1/25 ROCE 6.3% · OPM 25.8% 76% evidence	10.0/20 P/E 33.3× · PEG — 15% evidence	11.6/20 RS sector -8.1% · RS bench 1.5% · 1Y -3.3%7 of 12 weeks ahead 100% evidence
Exact sum: 16 + 16.1 + 10 + 11.6 = 53.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8Digi International Inc.DGII	53.6/100Mixed-positive evidence66% evidence	FADING	15.7/35 Revenue 13.4% · PAT 2.4% · OPM change 0 pp 53% evidence	13.3/25 ROCE 2.2% · OPM 13.1% 57% evidence	7.7/20 P/E 42.7× · PEG 2.32 65% evidence	16.9/20 RS sector 14% · RS bench 22% · 1Y 86.7%9 of 12 weeks ahead 100% evidence
Exact sum: 15.7 + 13.3 + 7.7 + 16.9 = 53.6 · Decision use: Price leads the evidence: RS versus the benchmark is 22%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9Ciena CorporationCIEN	53.0/100Mixed-positive evidence81% evidence	ASLEEP	28.9/35 Revenue 30.6% · PAT 100% · OPM change 12.2 pp 83% evidence	15.3/25 ROCE 5.1% · OPM 15.1% 76% evidence	4.1/20 P/E 178.4× · PEG 4.55 65% evidence	4.7/20 RS sector -9.8% · RS bench -5.9% · 1Y 146.1%0 of 12 weeks ahead 100% evidence
Exact sum: 28.9 + 15.3 + 4.1 + 4.7 = 53 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -9.8% and the one-year return is 146.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
10Belden Inc.BDC	50.8/100Thin evidence · provisional56% evidence	ASLEEP	17.2/35 Revenue — · PAT — · OPM change -0.4 pp 39% evidence	14.5/25 ROCE 3.5% · OPM 11.2% 76% evidence	10.8/20 P/E 19.4× · PEG — 15% evidence	8.3/20 RS sector -20.4% · RS bench -11.7% · 1Y -13.6%6 of 12 weeks ahead 100% evidence
Exact sum: 17.2 + 14.5 + 10.8 + 8.3 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11BK Technologies CorporationBKTI	50.3/100Thin evidence · provisional60% evidence	ASLEEP	16.0/35 Revenue 14.3% · PAT 40% · OPM change 0.1 pp 53% evidence	13.4/25 ROCE 6.8% · OPM 15.4% 57% evidence	15.7/20 P/E 20.9× · PEG 0.55 65% evidence	5.2/20 RS sector -22.7% · RS bench -15.2% · 1Y -7.8%0 of 12 weeks ahead 70% evidence
Exact sum: 16 + 13.4 + 15.7 + 5.2 = 50.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12Gilat Satellite Networks Ltd.GILT	49.3/100Thin evidence · provisional55% evidence	BASING	20.9/35 Revenue 46% · PAT -7.7% · OPM change 7 pp 40% evidence	10.4/25 ROCE 0.9% · OPM 4% 57% evidence	14.4/20 P/E 29.5× · PEG 0.77 65% evidence	3.6/20 RS sector -40.7% · RS bench -34.7% · 1Y -15.3%0 of 12 weeks ahead 70% evidence
Exact sum: 20.9 + 10.4 + 14.4 + 3.6 = 49.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Telesat CorporationTSAT	47.5/100Thin evidence · provisional51% evidence	TURNING	11.4/35 Revenue -27.5% · PAT — · OPM change -21.7 pp 40% evidence	7.7/25 ROCE -1.6% · OPM 2% 57% evidence	11.2/20 P/E 5.3× · PEG — 15% evidence	17.2/20 RS sector 13.6% · RS bench 21.4% · 1Y 101.9%1 of 12 weeks ahead 100% evidence
Exact sum: 11.4 + 7.7 + 11.2 + 17.2 = 47.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14Viavi Solutions Inc.VIAV	45.0/100Thin evidence · provisional56% evidence	ASLEEP	16.7/35 Revenue 30.6% · PAT -1220% · OPM change 3.1 pp 53% evidence	10.5/25 ROCE 1.5% · OPM 6.1% 57% evidence	8.8/20 P/E 174.4× · PEG — 15% evidence	9.0/20 RS sector 0.1% · RS bench 3.6% · 1Y 181.6%0 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 10.5 + 8.8 + 9 = 45 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15AudioCodes Ltd.AUDC	44.5/100Thin evidence · provisional60% evidence	TURNING	12.7/35 Revenue 2.5% · PAT -61.1% · OPM change -0.6 pp 53% evidence	11.3/25 ROCE 1.4% · OPM 5.4% 57% evidence	10.8/20 P/E 33.6× · PEG 1.38 65% evidence	9.7/20 RS sector -6.5% · RS bench 3.4% · 1Y -1.6%3 of 12 weeks ahead 70% evidence
Exact sum: 12.7 + 11.3 + 10.8 + 9.7 = 44.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
16AST SpaceMobile, Inc.ASTS	42.9/100Mixed-negative evidence64% evidence	ASLEEP	25.4/35 Revenue 100% · PAT — · OPM change 5752.7 pp 62% evidence	3.3/25 ROCE -8.4% · OPM -544.6% 76% evidence	11.5/20 P/E -22.9× · PEG — 15% evidence	2.7/20 RS sector -36.2% · RS bench -29.7% · 1Y 31.4%0 of 12 weeks ahead 100% evidence
Exact sum: 25.4 + 3.3 + 11.5 + 2.7 = 42.9 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -36.2% and the one-year return is 31.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
17Vistance Networks, Inc.VISN	42.5/100Thin evidence · provisional56% evidence	ASLEEP	21.1/35 Revenue 36.3% · PAT 90.4% · OPM change 9.2 pp 53% evidence	9.1/25 ROCE 0.4% · OPM 5% 57% evidence	11.4/20 P/E 0.6× · PEG — 15% evidence	0.9/20 RS sector -64.6% · RS bench -59.9% · 1Y -60.4%0 of 12 weeks ahead 100% evidence
Exact sum: 21.1 + 9.1 + 11.4 + 0.9 = 42.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18Extreme Networks, Inc.EXTR	42.2/100Mixed-negative evidence61% evidence	ASLEEP	18.7/35 Revenue 14.9% · PAT — · OPM change 1.9 pp 40% evidence	11.8/25 ROCE 3% · OPM 5.5% 57% evidence	5.0/20 P/E 125.7× · PEG 3.38 65% evidence	6.7/20 RS sector -7.9% · RS bench -0.3% · 1Y -1.8%5 of 12 weeks ahead 100% evidence
Exact sum: 18.7 + 11.8 + 5 + 6.7 = 42.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Ondas Inc.ONDS	40.5/100Thin evidence · provisional51% evidence	ASLEEP	22.8/35 Revenue 100% · PAT — · OPM change 157.6 pp 40% evidence	6.0/25 ROCE -3.6% · OPM -85.1% 57% evidence	9.1/20 P/E 129.1× · PEG — 15% evidence	2.6/20 RS sector -32.6% · RS bench -25.7% · 1Y 7.1%0 of 12 weeks ahead 100% evidence
Exact sum: 22.8 + 6 + 9.1 + 2.6 = 40.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20Clearfield, Inc.CLFD	39.4/100Thin evidence · provisional60% evidence	BASING	14.6/35 Revenue -18.6% · PAT 100% · OPM change -10.1 pp 53% evidence	8.4/25 ROCE -0.8% · OPM -6% 57% evidence	10.5/20 P/E 4341× · PEG 1.17 65% evidence	5.9/20 RS sector -20.8% · RS bench -12.8% · 1Y -11.4%2 of 12 weeks ahead 70% evidence
Exact sum: 14.6 + 8.4 + 10.5 + 5.9 = 39.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
21NETGEAR, Inc.NTGR	38.9/100Thin evidence · provisional51% evidence	BASING	14.0/35 Revenue 3.9% · PAT -200% · OPM change -0.7 pp 40% evidence	6.6/25 ROCE -2.4% · OPM -8.6% 57% evidence	10.9/20 P/E 13.1× · PEG — 15% evidence	7.4/20 RS sector -23.4% · RS bench -14.1% · 1Y -22%0 of 12 weeks ahead 100% evidence
Exact sum: 14 + 6.6 + 10.9 + 7.4 = 38.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Nokia OyjNOK	33.2/100Adverse evidence81% evidence	ASLEEP	9.9/35 Revenue 5.9% · PAT -21.8% · OPM change -4.3 pp 83% evidence	8.8/25 ROCE -0.2% · OPM -1% 76% evidence	4.3/20 P/E 89.5× · PEG 6.49 65% evidence	10.2/20 RS sector 0.8% · RS bench 6.5% · 1Y 113.9%2 of 12 weeks ahead 100% evidence
Exact sum: 9.9 + 8.8 + 4.3 + 10.2 = 33.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Harmonic Inc.HLIT	52.8/100Thin evidence · provisional50% evidence	ASLEEP	21.5/35 Revenue — · PAT — · OPM change 14 pp 39% evidence	13.8/25 ROCE 3.7% · OPM 16.8% 76% evidence	10.6/20 P/E 24× · PEG — 15% evidence	6.9/20 RS sector -14% · RS bench -6.3% · 1Y 9.2%4 of 12 weeks ahead 70% evidence
Exact sum: 21.5 + 13.8 + 10.6 + 6.9 = 52.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
24Silicom Ltd.SILC	52.1/100Thin evidence · provisional45% evidence	ASLEEP	17.9/35 Revenue 15.5% · PAT — · OPM change 7.6 pp 40% evidence	6.8/25 ROCE -2.2% · OPM -14.7% 57% evidence	11.0/20 P/E 12.5× · PEG — 15% evidence	16.4/20 RS sector 38.5% · RS bench 44% · 1Y 151.1%4 of 12 weeks ahead 70% evidence
Exact sum: 17.9 + 6.8 + 11 + 16.4 = 52.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
25Applied Optoelectronics, Inc.AAOI	45.2/100Thin evidence · provisional48% evidence	ASLEEP	18.2/35 Revenue 64.6% · PAT — · OPM change 0.3 pp 40% evidence	6.8/25 ROCE -1.5% · OPM -8.6% 57% evidence	10.0/20 P/E — · PEG — 0% evidence	10.2/20 RS sector 3.2% · RS bench 3.5% · 1Y 233.7%0 of 12 weeks ahead 100% evidence
Exact sum: 18.2 + 6.8 + 10 + 10.2 = 45.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
26Frequency Electronics, Inc.FEIM	43.8/100Thin evidence · provisional50% evidence	TURNING	11.6/35 Revenue — · PAT — · OPM change -10.8 pp 39% evidence	6.1/25 ROCE -9.1% · OPM 7.5% 76% evidence	9.4/20 P/E 71.1× · PEG — 15% evidence	16.7/20 RS sector 39.1% · RS bench 48.6% · 1Y 175.2%7 of 12 weeks ahead 70% evidence
Exact sum: 11.6 + 6.1 + 9.4 + 16.7 = 43.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
27Lantronix, Inc.LTRX	41.3/100Thin evidence · provisional42% evidence	ASLEEP	17.5/35 Revenue -16.8% · PAT — · OPM change 8.9 pp 40% evidence	7.3/25 ROCE -1.2% · OPM -3.7% 57% evidence	10.0/20 P/E — · PEG — 0% evidence	6.5/20 RS sector -19.9% · RS bench -12.1% · 1Y 13.6%0 of 12 weeks ahead 70% evidence
Exact sum: 17.5 + 7.3 + 10 + 6.5 = 41.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28ADTRAN Holdings, Inc.ADTN	39.9/100Thin evidence · provisional45% evidence	ASLEEP	19.0/35 Revenue 18.7% · PAT — · OPM change 3.8 pp 40% evidence	9.0/25 ROCE 0.7% · OPM 2.2% 57% evidence	8.6/20 P/E 469× · PEG — 15% evidence	3.3/20 RS sector -42.8% · RS bench -38.5% · 1Y -25.4%0 of 12 weeks ahead 70% evidence
Exact sum: 19 + 9 + 8.6 + 3.3 = 39.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
29Aviat Networks, Inc.AVNW	38.1/100Thin evidence · provisional45% evidence	ASLEEP	12.4/35 Revenue -0.7% · PAT — · OPM change -7.4 pp 40% evidence	10.0/25 ROCE 0.3% · OPM 0.9% 57% evidence	10.1/20 P/E 33.2× · PEG — 15% evidence	5.6/20 RS sector -22.1% · RS bench -13.1% · 1Y -15.1%5 of 12 weeks ahead 70% evidence
Exact sum: 12.4 + 10 + 10.1 + 5.6 = 38.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 29 companies

04 · what price has already done

Market action

Lumentum Holdings Inc. has the strongest one-year price move in Communication Equipment at +444.7%. Hewlett Packard Enterprise Company leads on Mansfield relative strength against the S&P 500 at +65%. 14 of 29 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-09-16.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Revenue Scale & Growth Durability

Cisco Systems, Inc. has the highest Revenue among the 29 Communication Equipment companies compared here, at $63,325 million. Hewlett Packard Enterprise Company is next at $38,794 million. AST SpaceMobile, Inc. has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Cisco Systems, Inc. is the scale leader at $63,325 million, 63.2% ahead of Hewlett Packard Enterprise Company. AST SpaceMobile, Inc.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 2220% from a $116 million base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCisco Systems, Inc. · $63,325 million

Gap63.2% versus #2 · Hewlett Packard Enterprise Company

Persistence7/8 recent comparable periods

Coverage24/29 companies · 513 observations

Investor read: Cisco Systems, Inc. is the scale benchmark; AST SpaceMobile, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Cisco Systems, Inc.'s growth falls below AST SpaceMobile, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Cisco Systems, Inc. CSCO$63.3B

2Hewlett Packard Enterprise Company HPE$38.8B

3Nokia Oyj NOK$20.3B

4Ciena Corporation CIEN$5.6B

5Viasat, Inc. VSAT · older report$4.6B

Revenue growthfastest growers

1AST SpaceMobile, Inc. ASTS100%

2Ondas Inc. ONDS · older report100%

3Lumentum Holdings Inc. LITE83%

4Applied Optoelectronics, Inc. AAOI · older report65%

5Gilat Satellite Networks Ltd. GILT · older report46%

Revenue · company comparison

24/29 level · 24/29 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Cisco Systems, Inc. CSCO	$17.3B	18%	Sep 2026
Hewlett Packard Enterprise Company HPE	$10.7B	40%	Jun 2026
Nokia Oyj NOK	$4.8B	8.4%	Jun 2026
Motorola Solutions, Inc. MSI	$3.1B	4.1%	Sep 2026
Ciena Corporation CIEN	$1.6B	40%	Jun 2026
Zebra Technologies Corporation ZBRA	$1.5B	16%	Jun 2026
Viasat, Inc. VSAT	$1.2B	2.1%	Mar 2026
Lumentum Holdings Inc. LITE	$1.0B	109%	Jun 2026
Ubiquiti Inc. UI	$788M	19%	Mar 2026
Belden Inc. BDC	$696M	11%	Jun 2026
Vistance Networks, Inc. VISN	$472M	22%	Mar 2026
Viavi Solutions Inc. VIAV	$407M	43%	Mar 2026
Extreme Networks, Inc. EXTR	$317M	11%	Mar 2026
ADTRAN Holdings, Inc. ADTN	$286M	15%	Mar 2026
NETGEAR, Inc. NTGR	$159M	-1.9%	Mar 2026
Applied Optoelectronics, Inc. AAOI	$151M	51%	Mar 2026
Digi International Inc. DGII	$131M	25%	Mar 2026
Harmonic Inc. HLIT	$122M	-12%	Jun 2026
Gilat Satellite Networks Ltd. GILT	$110M	20%	Mar 2026
Aviat Networks, Inc. AVNW	$100M	-12%	Mar 2026
Telesat Corporation TSAT	$87M	-26%	Mar 2026
AudioCodes Ltd. AUDC	$62M	3.3%	Mar 2026
Ondas Inc. ONDS	$50M	1,150%	Mar 2026
Clearfield, Inc. CLFD	$34M	-17%	Mar 2026
AST SpaceMobile, Inc. ASTS	$32M	3,100%	Jun 2026
Lantronix, Inc. LTRX	$30M	3.5%	Mar 2026
BK Technologies Corporation BKTI	$21M	11%	Mar 2026
Silicom Ltd. SILC	$19M	36%	Mar 2026
Frequency Electronics, Inc. FEIM	$17M	-11%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021$54M

Mar 2022$52M

Jun 2022$52M

Sep 2022$57M

Dec 2022$62M

Mar 2023$53M

Jun 2023$42M

Sep 2023$63M

Dec 2023$60M

Mar 2024$41M

Jun 2024$43M

Sep 2024$65M

Dec 2024$100M

Mar 2025$100M

Jun 2025$103M

Sep 2025$119M

Dec 2025$134M

Mar 2026$151M

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021$6M

Mar 2022$2M

Jun 2022$7M

Sep 2022$4M

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024$1M

Jun 2024$1M

Sep 2024$1M

Dec 2024$2M

Mar 2025$1M

Jun 2025$1M

Sep 2025$15M

Dec 2025$54M

Mar 2026$15M

Jun 2026$32M

Sep 2026—

Ciena Corporation · CIEN

Dec 2021$1.0B

Mar 2022$844M

Jun 2022$949M

Sep 2022$868M

Dec 2022$971M

Mar 2023$1.1B

Jun 2023$1.1B

Sep 2023$1.1B

Dec 2023$1.1B

Mar 2024$1.0B

Jun 2024$911M

Sep 2024$942M

Dec 2024$1.1B

Mar 2025$1.1B

Jun 2025$1.1B

Sep 2025$1.2B

Dec 2025$1.4B

Mar 2026$1.4B

Jun 2026$1.6B

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021$12.9B

Mar 2022$12.7B

Jun 2022$12.8B

Sep 2022$13.1B

Dec 2022$13.6B

Mar 2023$13.6B

Jun 2023$14.6B

Sep 2023$15.2B

Dec 2023$14.7B

Mar 2024$12.8B

Jun 2024$12.7B

Sep 2024$13.6B

Dec 2024$13.8B

Mar 2025$14.0B

Jun 2025$14.1B

Sep 2025$14.7B

Dec 2025$14.9B

Mar 2026$15.3B

Jun 2026$15.8B

Sep 2026$17.3B

Hewlett Packard Enterprise Company · HPE

Dec 2021$7.4B

Mar 2022$7.0B

Jun 2022$6.7B

Sep 2022$7.0B

Dec 2022$7.9B

Mar 2023$7.8B

Jun 2023$7.0B

Sep 2023$7.0B

Dec 2023$7.4B

Mar 2024$6.8B

Jun 2024$7.2B

Sep 2024$7.7B

Dec 2024$8.5B

Mar 2025$7.9B

Jun 2025$7.6B

Sep 2025$9.1B

Dec 2025$9.7B

Mar 2026$9.3B

Jun 2026$10.7B

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021$448M

Mar 2022$447M

Jun 2022$395M

Sep 2022$422M

Dec 2022$507M

Mar 2023—

Jun 2023$383M

Sep 2023$371M

Dec 2023$367M

Mar 2024$367M

Jun 2024$308M

Sep 2024$337M

Dec 2024$402M

Mar 2025$425M

Jun 2025$481M

Sep 2025$534M

Dec 2025$666M

Mar 2026$808M

Jun 2026$1.0B

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021$2.1B

Mar 2022—

Jun 2022$1.9B

Sep 2022$2.1B

Dec 2022$2.4B

Mar 2023—

Jun 2023$2.2B

Sep 2023$2.4B

Dec 2023$2.8B

Mar 2024$2.4B

Jun 2024$2.6B

Sep 2024$2.8B

Dec 2024$3.0B

Mar 2025$2.5B

Jun 2025$2.8B

Sep 2025$3.0B

Dec 2025$3.4B

Mar 2026—

Jun 2026$2.7B

Sep 2026$3.1B

Nokia Oyj · NOK

Dec 2021$6.4B

Mar 2022$5.3B

Jun 2022$5.9B

Sep 2022$6.2B

Dec 2022$7.4B

Mar 2023$5.9B

Jun 2023$5.4B

Sep 2023$4.7B

Dec 2023$5.4B

Mar 2024$4.4B

Jun 2024$4.5B

Sep 2024$4.3B

Dec 2024$6.0B

Mar 2025$4.4B

Jun 2025$4.4B

Sep 2025$4.8B

Dec 2025$6.1B

Mar 2026$4.5B

Jun 2026$4.8B

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021$432M

Mar 2022$358M

Jun 2022$443M

Sep 2022$498M

Dec 2022$494M

Mar 2023$458M

Jun 2023$491M

Sep 2023$463M

Dec 2023$465M

Mar 2024$493M

Jun 2024$507M

Sep 2024$550M

Dec 2024$600M

Mar 2025$664M

Jun 2025$759M

Sep 2025$734M

Dec 2025$815M

Mar 2026$788M

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021$625M

Mar 2022$607M

Jun 2022$575M

Sep 2022$664M

Dec 2022$651M

Mar 2023$666M

Jun 2023$780M

Sep 2023$1.2B

Dec 2023$1.1B

Mar 2024$1.2B

Jun 2024$1.1B

Sep 2024$1.1B

Dec 2024$1.1B

Mar 2025$1.1B

Jun 2025$1.2B

Sep 2025$1.1B

Dec 2025$1.2B

Mar 2026$1.2B

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021$327M

Mar 2022$315M

Jun 2022$316M

Sep 2022$335M

Dec 2022$310M

Mar 2023—

Jun 2023$248M

Sep 2023$264M

Dec 2023$255M

Mar 2024$246M

Jun 2024$252M

Sep 2024$238M

Dec 2024$271M

Mar 2025$285M

Jun 2025$291M

Sep 2025$299M

Dec 2025$369M

Mar 2026$407M

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021$1.4B

Mar 2022—

Jun 2022$1.4B

Sep 2022$1.5B

Dec 2022$1.4B

Mar 2023—

Jun 2023$1.4B

Sep 2023$1.2B

Dec 2023$1.0B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.3B

Dec 2024$1.3B

Mar 2025$1.3B

Jun 2025$1.3B

Sep 2025$1.3B

Dec 2025$1.5B

Mar 2026—

Jun 2026$1.5B

Sep 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021—

Mar 2022—

Jun 2022-3.7%

Sep 20227.6%

Dec 202215%

Mar 20231.9%

Jun 2023-19%

Sep 202311%

Dec 2023-3.2%

Mar 2024-23%

Jun 20242.4%

Sep 20243.2%

Dec 202467%

Mar 2025144%

Jun 2025140%

Sep 202583%

Dec 202534%

Mar 202651%

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021—

Mar 2022—

Jun 2022133%

Sep 2022100%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.0%

Jun 20250.0%

Sep 20251,400%

Dec 20252,600%

Mar 20261,400%

Jun 20263,100%

Sep 2026—

Ciena Corporation · CIEN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-12%

Dec 2022-6.7%

Mar 202325%

Jun 202319%

Sep 202323%

Dec 202316%

Mar 2024-1.8%

Jun 2024-20%

Sep 2024-12%

Dec 2024-0.4%

Mar 20253.3%

Jun 202524%

Sep 202529%

Dec 202520%

Mar 202633%

Jun 202640%

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-0.2%

Dec 20225.7%

Mar 20236.9%

Jun 202314%

Sep 202316%

Dec 20237.6%

Mar 2024-5.9%

Jun 2024-13%

Sep 2024-10%

Dec 2024-5.6%

Mar 20259.4%

Jun 202511%

Sep 20257.6%

Dec 20257.5%

Mar 20269.7%

Jun 202612%

Sep 202618%

Hewlett Packard Enterprise Company · HPE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.8%

Dec 20227.0%

Mar 202312%

Jun 20233.9%

Sep 20230.7%

Dec 2023-6.6%

Mar 2024-14%

Jun 20243.3%

Sep 202410%

Dec 202415%

Mar 202516%

Jun 20255.9%

Sep 202519%

Dec 202514%

Mar 202618%

Jun 202640%

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20227.7%

Dec 202213%

Mar 2023—

Jun 2023-3.0%

Sep 2023-12%

Dec 2023-28%

Mar 2024—

Jun 2024-20%

Sep 2024-9.2%

Dec 20249.5%

Mar 202516%

Jun 202556%

Sep 202558%

Dec 202566%

Mar 202690%

Jun 2026109%

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20228.6%

Dec 202213%

Mar 2023—

Jun 202315%

Sep 202312%

Dec 202320%

Mar 2024—

Jun 202421%

Sep 202416%

Dec 20245.7%

Mar 20255.8%

Jun 20255.2%

Sep 20257.9%

Dec 202512%

Mar 2026—

Jun 2026-1.8%

Sep 20264.1%

Nokia Oyj · NOK

Dec 2021—

Mar 2022—

Jun 202211%

Sep 202216%

Dec 202216%

Mar 20239.6%

Jun 2023-7.4%

Sep 2023-25%

Dec 2023-27%

Mar 2024-24%

Jun 2024-18%

Sep 2024-8.1%

Dec 202410%

Mar 2025-1.2%

Jun 2025-0.5%

Sep 202512%

Dec 20252.4%

Mar 20262.4%

Jun 20268.4%

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021—

Mar 2022—

Jun 2022-7.3%

Sep 20228.5%

Dec 202214%

Mar 202328%

Jun 202311%

Sep 2023-7.0%

Dec 2023-5.9%

Mar 20247.6%

Jun 20243.3%

Sep 202419%

Dec 202429%

Mar 202535%

Jun 202550%

Sep 202533%

Dec 202536%

Mar 202619%

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021—

Mar 2022—

Jun 2022-14%

Sep 20229.0%

Dec 20224.2%

Mar 20239.7%

Jun 202336%

Sep 202384%

Dec 202373%

Mar 202473%

Jun 202444%

Sep 2024-8.4%

Dec 2024-0.4%

Mar 2025-0.3%

Jun 20254.0%

Sep 20251.7%

Dec 20252.9%

Mar 20262.1%

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20227.7%

Dec 2022-5.2%

Mar 2023—

Jun 2023-22%

Sep 2023-21%

Dec 2023-18%

Mar 2024—

Jun 20241.6%

Sep 2024-9.9%

Dec 20246.3%

Mar 202516%

Jun 202515%

Sep 202526%

Dec 202536%

Mar 202643%

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20226.6%

Dec 2022-4.0%

Mar 2023—

Jun 2023-1.9%

Sep 2023-17%

Dec 2023-27%

Mar 2024—

Jun 2024-13%

Sep 20243.4%

Dec 202432%

Mar 202511%

Jun 20256.2%

Sep 20255.2%

Dec 202511%

Mar 2026—

Jun 202616%

Sep 2026—

06 · compare level, then change

Operating Economics & Margin Trend

Ubiquiti Inc. has the highest OPM among the 29 Communication Equipment companies compared here, at 36.9%. Lumentum Holdings Inc. is next at 27.8%. AST SpaceMobile, Inc. has the highest Margin change at +5752.7 percentage points, so level and change sit with different companies. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Ubiquiti Inc. leads opm at 36.9%; AST SpaceMobile, Inc. leads margin change at +5752.7 percentage points.

LeaderUbiquiti Inc. · 36.9%

Gap32.7% versus #2 · Lumentum Holdings Inc.

Persistence7/8 recent comparable periods

Coverage29/29 companies · 499 observations

Investor read: Ubiquiti Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Ubiquiti Inc. UI · older report37%

2Lumentum Holdings Inc. LITE28%

3Cisco Systems, Inc. CSCO28%

4Motorola Solutions, Inc. MSI26%

5Harmonic Inc. HLIT17%

Margin changefastest expanders

1AST SpaceMobile, Inc. ASTS+5,752.7 pp

2Ondas Inc. ONDS · older report+157.6 pp

3Lumentum Holdings Inc. LITE+29.5 pp

4Hewlett Packard Enterprise Company HPE+21.5 pp

5Harmonic Inc. HLIT+14.0 pp

Operating margin · company comparison

29/29 level · 29/29 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Ubiquiti Inc. UI	37%	+2.7 pp	Mar 2026
Lumentum Holdings Inc. LITE	28%	+29.5 pp	Jun 2026
Cisco Systems, Inc. CSCO	28%	+6.6 pp	Sep 2026
Motorola Solutions, Inc. MSI	26%	+0.2 pp	Sep 2026
Harmonic Inc. HLIT	17%	+14.0 pp	Jun 2026
BK Technologies Corporation BKTI	15%	+0.1 pp	Mar 2026
Ciena Corporation CIEN	15%	+12.2 pp	Jun 2026
Zebra Technologies Corporation ZBRA	14%	+0.2 pp	Jun 2026
Digi International Inc. DGII	13%	0.0 pp	Mar 2026
Belden Inc. BDC	11%	−0.4 pp	Jun 2026
Frequency Electronics, Inc. FEIM	7.5%	−10.8 pp	Jun 2026
Hewlett Packard Enterprise Company HPE	7.0%	+21.5 pp	Jun 2026
Viavi Solutions Inc. VIAV	6.1%	+3.1 pp	Mar 2026
Extreme Networks, Inc. EXTR	5.5%	+1.9 pp	Mar 2026
AudioCodes Ltd. AUDC	5.4%	−0.6 pp	Mar 2026
Vistance Networks, Inc. VISN	5.0%	+9.2 pp	Mar 2026
Gilat Satellite Networks Ltd. GILT	4.0%	+7.0 pp	Mar 2026
ADTRAN Holdings, Inc. ADTN	2.2%	+3.8 pp	Mar 2026
Telesat Corporation TSAT	2.0%	−21.7 pp	Mar 2026
Aviat Networks, Inc. AVNW	0.9%	−7.4 pp	Mar 2026
Viasat, Inc. VSAT	-0.1%	+13.3 pp	Mar 2026
Nokia Oyj NOK	-1.0%	−4.3 pp	Jun 2026
Lantronix, Inc. LTRX	-3.7%	+8.9 pp	Mar 2026
Clearfield, Inc. CLFD	-6.0%	−10.1 pp	Mar 2026
Applied Optoelectronics, Inc. AAOI	-8.6%	+0.3 pp	Mar 2026
NETGEAR, Inc. NTGR	-8.6%	−0.7 pp	Mar 2026
Silicom Ltd. SILC	-15%	+7.6 pp	Mar 2026
Ondas Inc. ONDS	-85%	+157.6 pp	Mar 2026
AST SpaceMobile, Inc. ASTS	-545%	+5,752.7 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021-25%

Mar 2022-27%

Jun 2022-25%

Sep 2022-24%

Dec 2022-30%

Mar 2023-27%

Jun 2023-38%

Sep 2023-11%

Dec 2023-7.5%

Mar 2024-53%

Jun 2024-61%

Sep 2024-25%

Dec 2024-6.5%

Mar 2025-8.9%

Jun 2025-16%

Sep 2025-15%

Dec 2025-8.6%

Mar 2026-8.6%

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021-458%

Mar 2022—

Jun 2022-418%

Sep 2022-971%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-541%

Dec 2025-133%

Mar 2026—

Jun 2026-545%

Sep 2026—

Ciena Corporation · CIEN

Dec 202113%

Mar 20227.1%

Jun 20226.2%

Sep 20223.1%

Dec 20228.0%

Mar 20238.1%

Jun 20239.1%

Sep 20237.3%

Dec 20238.1%

Mar 20248.2%

Jun 2024-0.4%

Sep 20242.8%

Dec 20245.3%

Mar 20257.5%

Jun 20252.9%

Sep 20256.0%

Dec 20250.8%

Mar 202613%

Jun 202615%

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 202127%

Mar 202227%

Jun 202228%

Sep 202226%

Dec 202226%

Mar 202326%

Jun 202328%

Sep 202329%

Dec 202330%

Mar 202424%

Jun 202422%

Sep 202419%

Dec 202422%

Mar 202522%

Jun 202523%

Sep 202521%

Dec 202524%

Mar 202625%

Jun 202625%

Sep 202628%

Hewlett Packard Enterprise Company · HPE

Dec 20214.8%

Mar 20226.4%

Jun 20223.1%

Sep 20226.7%

Dec 2022-4.3%

Mar 20237.6%

Jun 20237.5%

Sep 20236.7%

Dec 20236.8%

Mar 20247.8%

Jun 20245.9%

Sep 20247.1%

Dec 20248.2%

Mar 20255.5%

Jun 2025-15%

Sep 20252.7%

Dec 2025-0.1%

Mar 20265.1%

Jun 20267.0%

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 202126%

Mar 202219%

Jun 202212%

Sep 202213%

Dec 20222.7%

Mar 2023—

Jun 2023-13%

Sep 2023-15%

Dec 2023-29%

Mar 2024-31%

Jun 2024-43%

Sep 2024-25%

Dec 2024-13%

Mar 2025-8.9%

Jun 2025-1.7%

Sep 20251.3%

Dec 20259.7%

Mar 202622%

Jun 202628%

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 202121%

Mar 2022—

Jun 202213%

Sep 202217%

Dec 202216%

Mar 2023—

Jun 202318%

Sep 202322%

Dec 202326%

Mar 202422%

Jun 202425%

Sep 202426%

Dec 202427%

Mar 202523%

Jun 202525%

Sep 202526%

Dec 202528%

Mar 2026—

Jun 202619%

Sep 202626%

Nokia Oyj · NOK

Dec 202112%

Mar 20226.6%

Jun 20229.6%

Sep 20228.3%

Dec 202212%

Mar 20237.3%

Jun 20238.6%

Sep 20235.0%

Dec 20239.9%

Mar 20249.1%

Jun 20249.7%

Sep 20246.4%

Dec 202414%

Mar 2025-0.5%

Jun 20253.3%

Sep 20255.0%

Dec 20258.8%

Mar 20261.4%

Jun 2026-1.0%

Sep 2026—

Ubiquiti Inc. · UI

Dec 202129%

Mar 202218%

Jun 202225%

Sep 202225%

Dec 202229%

Mar 202329%

Jun 202329%

Sep 202328%

Dec 202326%

Mar 202423%

Jun 202427%

Sep 202431%

Dec 202430%

Mar 202534%

Jun 202534%

Sep 202536%

Dec 202536%

Mar 202637%

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021-4.6%

Mar 2022-8.0%

Jun 2022-9.8%

Sep 20220.7%

Dec 2022-4.8%

Mar 2023-11%

Jun 2023-5.3%

Sep 2023-66%

Dec 2023-3.9%

Mar 20240.0%

Jun 20245.3%

Sep 2024-2.2%

Dec 20241.9%

Mar 2025-13%

Jun 20254.0%

Sep 20253.1%

Dec 20252.3%

Mar 2026-0.1%

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 202114%

Mar 202216%

Jun 202213%

Sep 202214%

Dec 202216%

Mar 2023—

Jun 2023-0.8%

Sep 20234.5%

Dec 20238.8%

Mar 2024-4.8%

Jun 2024-2.3%

Sep 20244.8%

Dec 20248.2%

Mar 20253.0%

Jun 20255.3%

Sep 20252.5%

Dec 20253.1%

Mar 20266.1%

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 202117%

Mar 2022—

Jun 202215%

Sep 2022-9.9%

Dec 202215%

Mar 2023—

Jun 202316%

Sep 202316%

Dec 20237.3%

Mar 202414%

Jun 202414%

Sep 202415%

Dec 202417%

Mar 202515%

Jun 202514%

Sep 202514%

Dec 20259.4%

Mar 2026—

Jun 202614%

Sep 2026—

Margin change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021—

Mar 2022—

Jun 2022+0.5 pp

Sep 2022+5.2 pp

Dec 2022−4.8 pp

Mar 2023+0.6 pp

Jun 2023−13.7 pp

Sep 2023+13.1 pp

Dec 2023+22.3 pp

Mar 2024−26.5 pp

Jun 2024−22.3 pp

Sep 2024−14.7 pp

Dec 2024+1.0 pp

Mar 2025+44.3 pp

Jun 2025+45.2 pp

Sep 2025+10.1 pp

Dec 2025−2.1 pp

Mar 2026+0.3 pp

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021—

Mar 2022—

Jun 2022+427.4 pp

Sep 2022−42.0 pp

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+2,330.8 pp

Jun 2025+701.9 pp

Sep 2025+5,418.1 pp

Dec 2025+2,928.6 pp

Mar 2026+7,755.2 pp

Jun 2026+5,752.7 pp

Sep 2026—

Ciena Corporation · CIEN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−11.9 pp

Dec 2022−5.2 pp

Mar 2023+1.0 pp

Jun 2023+2.9 pp

Sep 2023+4.2 pp

Dec 2023+0.1 pp

Mar 2024+0.1 pp

Jun 2024−9.5 pp

Sep 2024−4.5 pp

Dec 2024−2.8 pp

Mar 2025−0.7 pp

Jun 2025+3.3 pp

Sep 2025+3.2 pp

Dec 2025−4.5 pp

Mar 2026+5.8 pp

Jun 2026+12.2 pp

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.0 pp

Dec 2022−0.8 pp

Mar 2023−1.4 pp

Jun 2023−0.4 pp

Sep 2023+3.2 pp

Dec 2023+4.2 pp

Mar 2024−1.7 pp

Jun 2024−5.8 pp

Sep 2024−10.0 pp

Dec 2024−8.3 pp

Mar 2025−2.0 pp

Jun 2025+1.0 pp

Sep 2025+1.7 pp

Dec 2025+1.7 pp

Mar 2026+2.6 pp

Jun 2026+2.1 pp

Sep 2026+6.6 pp

Hewlett Packard Enterprise Company · HPE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.6 pp

Dec 2022−9.1 pp

Mar 2023+1.2 pp

Jun 2023+4.4 pp

Sep 20230.0 pp

Dec 2023+11.1 pp

Mar 2024+0.2 pp

Jun 2024−1.6 pp

Sep 2024+0.4 pp

Dec 2024+1.4 pp

Mar 2025−2.3 pp

Jun 2025−20.4 pp

Sep 2025−4.4 pp

Dec 2025−8.3 pp

Mar 2026−0.4 pp

Jun 2026+21.5 pp

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.4 pp

Dec 2022−23.1 pp

Mar 2023—

Jun 2023−25.2 pp

Sep 2023−28.2 pp

Dec 2023−31.4 pp

Mar 2024—

Jun 2024−29.9 pp

Sep 2024−9.4 pp

Dec 2024+15.9 pp

Mar 2025+22.4 pp

Jun 2025+41.6 pp

Sep 2025+25.8 pp

Dec 2025+22.5 pp

Mar 2026+30.5 pp

Jun 2026+29.5 pp

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.1 pp

Dec 2022−5.7 pp

Mar 2023—

Jun 2023+5.8 pp

Sep 2023+4.9 pp

Dec 2023+10.2 pp

Mar 2024—

Jun 2024+6.1 pp

Sep 2024+3.9 pp

Dec 2024+1.1 pp

Mar 2025+1.3 pp

Jun 2025+0.5 pp

Sep 2025+0.1 pp

Dec 2025+0.9 pp

Mar 2026—

Jun 2026−5.7 pp

Sep 2026+0.2 pp

Nokia Oyj · NOK

Dec 2021—

Mar 2022—

Jun 2022+0.5 pp

Sep 2022−1.0 pp

Dec 2022+0.3 pp

Mar 2023+0.7 pp

Jun 2023−1.0 pp

Sep 2023−3.3 pp

Dec 2023−1.9 pp

Mar 2024+1.8 pp

Jun 2024+1.1 pp

Sep 2024+1.4 pp

Dec 2024+4.5 pp

Mar 2025−9.6 pp

Jun 2025−6.4 pp

Sep 2025−1.4 pp

Dec 2025−5.6 pp

Mar 2026+1.9 pp

Jun 2026−4.3 pp

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021—

Mar 2022—

Jun 2022−12.9 pp

Sep 2022−10.7 pp

Dec 2022+0.3 pp

Mar 2023+11.7 pp

Jun 2023+3.9 pp

Sep 2023+3.2 pp

Dec 2023−3.4 pp

Mar 2024−6.6 pp

Jun 2024−2.0 pp

Sep 2024+3.0 pp

Dec 2024+3.8 pp

Mar 2025+11.6 pp

Jun 2025+7.1 pp

Sep 2025+5.0 pp

Dec 2025+6.1 pp

Mar 2026+2.7 pp

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021—

Mar 2022—

Jun 2022−12.3 pp

Sep 2022+4.7 pp

Dec 2022−0.2 pp

Mar 2023−2.9 pp

Jun 2023+4.5 pp

Sep 2023−66.4 pp

Dec 2023+0.9 pp

Mar 2024+10.9 pp

Jun 2024+10.6 pp

Sep 2024+63.5 pp

Dec 2024+5.8 pp

Mar 2025−13.4 pp

Jun 2025−1.3 pp

Sep 2025+5.3 pp

Dec 2025+0.4 pp

Mar 2026+13.3 pp

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+3.8 pp

Dec 2022+1.7 pp

Mar 2023—

Jun 2023−13.7 pp

Sep 2023−9.8 pp

Dec 2023−7.3 pp

Mar 2024—

Jun 2024−1.5 pp

Sep 2024+0.3 pp

Dec 2024−0.6 pp

Mar 2025+7.8 pp

Jun 2025+7.6 pp

Sep 2025−2.3 pp

Dec 2025−5.1 pp

Mar 2026+3.1 pp

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−27.8 pp

Dec 2022−1.8 pp

Mar 2023—

Jun 2023+1.2 pp

Sep 2023+25.9 pp

Dec 2023−7.4 pp

Mar 2024—

Jun 2024−2.3 pp

Sep 2024−0.8 pp

Dec 2024+9.6 pp

Mar 2025+1.4 pp

Jun 2025+0.5 pp

Sep 2025−1.3 pp

Dec 2025−7.5 pp

Mar 2026—

Jun 2026+0.2 pp

Sep 2026—

07 · compare level, then change

Profit Scale & Acceleration

Cisco Systems, Inc. has the highest Net profit among the 29 Communication Equipment companies compared here, at $13,267 million. Hewlett Packard Enterprise Company is next at $1,556 million. Ciena Corporation has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Cisco Systems, Inc. leads with $13,267 million of TTM profit, 752.6% above Hewlett Packard Enterprise Company. Ciena Corporation shows ≥100% on the scoring scale (316.2% uncapped) growth from a $437 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderCisco Systems, Inc. · $13,267 million

Gap752.6% versus #2 · Hewlett Packard Enterprise Company

Persistence6/8 recent comparable periods

Coverage24/29 companies · 518 observations

Investor read: Cisco Systems, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Cisco Systems, Inc. CSCO$13.3B

2Hewlett Packard Enterprise Company HPE$1.6B

3Ubiquiti Inc. UI · older report$943M

4Nokia Oyj NOK$728M

5Ciena Corporation CIEN$437M

Profit growthfastest growers

1Ciena Corporation CIEN100%

2Clearfield, Inc. CLFD · older report100%

3Vistance Networks, Inc. VISN · older report90%

4Ubiquiti Inc. UI · older report72%

5BK Technologies Corporation BKTI · older report40%

Net profit · company comparison

24/29 level · 10/29 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Cisco Systems, Inc. CSCO	$3.9B	51%	Sep 2026
Hewlett Packard Enterprise Company HPE	$624M	-28%	Jun 2026
Motorola Solutions, Inc. MSI	$558M	-1.1%	Sep 2026
Ondas Inc. ONDS	$361M	—	Mar 2026
Ubiquiti Inc. UI	$234M	30%	Mar 2026
Vistance Networks, Inc. VISN	$232M	-32%	Mar 2026
Ciena Corporation CIEN	$218M	2,322%	Jun 2026
Zebra Technologies Corporation ZBRA	$135M	21%	Jun 2026
Viasat, Inc. VSAT	$66M	-108%	Mar 2026
Belden Inc. BDC	$51M	-1.9%	Jun 2026
Nokia Oyj NOK	$27M	-73%	Jun 2026
Extreme Networks, Inc. EXTR	$11M	267%	Mar 2026
Digi International Inc. DGII	$11M	10%	Mar 2026
Harmonic Inc. HLIT	$10M	233%	Jun 2026
Viavi Solutions Inc. VIAV	$6M	-70%	Mar 2026
Gilat Satellite Networks Ltd. GILT	$6M	0.0%	Mar 2026
BK Technologies Corporation BKTI	$3M	50%	Mar 2026
Frequency Electronics, Inc. FEIM	$2M	-87%	Jun 2026
AudioCodes Ltd. AUDC	$2M	-50%	Mar 2026
ADTRAN Holdings, Inc. ADTN	$1M	-414%	Mar 2026
Clearfield, Inc. CLFD	$-1M	-133%	Mar 2026
Lantronix, Inc. LTRX	$-1M	-167%	Mar 2026
Aviat Networks, Inc. AVNW	$-2M	-150%	Mar 2026
Silicom Ltd. SILC	$-2M	-400%	Mar 2026
NETGEAR, Inc. NTGR	$-13M	-106%	Mar 2026
Applied Optoelectronics, Inc. AAOI	$-14M	—	Mar 2026
Telesat Corporation TSAT	$-45M	-294%	Mar 2026
AST SpaceMobile, Inc. ASTS	$-231M	-350%	Jun 2026
Lumentum Holdings Inc. LITE	$-7.2B	-3,462%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021$-15M

Mar 2022$-16M

Jun 2022$-14M

Sep 2022$-16M

Dec 2022$-20M

Mar 2023$-16M

Jun 2023$-17M

Sep 2023$-9M

Dec 2023$-14M

Mar 2024$-23M

Jun 2024$-26M

Sep 2024$-18M

Dec 2024$-120M

Mar 2025$-9M

Jun 2025$-9M

Sep 2025$-18M

Dec 2025$-2M

Mar 2026$-14M

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021$-3M

Mar 2022$-11M

Jun 2022$-3M

Sep 2022$-10M

Dec 2022$-8M

Mar 2023$-16M

Jun 2023$-18M

Sep 2023$-21M

Dec 2023$-32M

Mar 2024$-20M

Jun 2024$-73M

Sep 2024$-172M

Dec 2024$-36M

Mar 2025$-46M

Jun 2025$-99M

Sep 2025$-123M

Dec 2025$-74M

Mar 2026$-191M

Jun 2026$-231M

Sep 2026—

Ciena Corporation · CIEN

Dec 2021$103M

Mar 2022$46M

Jun 2022$39M

Sep 2022$11M

Dec 2022$58M

Mar 2023$76M

Jun 2023$58M

Sep 2023$30M

Dec 2023$91M

Mar 2024$50M

Jun 2024$-17M

Sep 2024$14M

Dec 2024$37M

Mar 2025$45M

Jun 2025$9M

Sep 2025$50M

Dec 2025$19M

Mar 2026$150M

Jun 2026$218M

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021$3.0B

Mar 2022$3.0B

Jun 2022$3.0B

Sep 2022$2.8B

Dec 2022$2.7B

Mar 2023$2.8B

Jun 2023$3.2B

Sep 2023$4.0B

Dec 2023$3.6B

Mar 2024$2.6B

Jun 2024$1.9B

Sep 2024$2.2B

Dec 2024$2.7B

Mar 2025$2.4B

Jun 2025$2.5B

Sep 2025$2.6B

Dec 2025$2.9B

Mar 2026$3.2B

Jun 2026$3.4B

Sep 2026$3.9B

Hewlett Packard Enterprise Company · HPE

Dec 2021$2.6B

Mar 2022$513M

Jun 2022$250M

Sep 2022$409M

Dec 2022$-304M

Mar 2023$501M

Jun 2023$418M

Sep 2023$464M

Dec 2023$416M

Mar 2024$387M

Jun 2024$314M

Sep 2024$512M

Dec 2024$1.4B

Mar 2025$627M

Jun 2025$-1.1B

Sep 2025$305M

Dec 2025$175M

Mar 2026$452M

Jun 2026$624M

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021$82M

Mar 2022$57M

Jun 2022$26M

Sep 2022$35M

Dec 2022$0M

Mar 2023—

Jun 2023$-39M

Sep 2023$-60M

Dec 2023$-99M

Mar 2024$-127M

Jun 2024$-253M

Sep 2024$-82M

Dec 2024$-61M

Mar 2025$-44M

Jun 2025$213M

Sep 2025$4M

Dec 2025$78M

Mar 2026$144M

Jun 2026$-7.2B

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021$308M

Mar 2022—

Jun 2022$268M

Sep 2022$229M

Dec 2022$280M

Mar 2023—

Jun 2023$279M

Sep 2023$373M

Dec 2023$597M

Mar 2024$-38M

Jun 2024$445M

Sep 2024$563M

Dec 2024$612M

Mar 2025$432M

Jun 2025$515M

Sep 2025$564M

Dec 2025$650M

Mar 2026—

Jun 2026$368M

Sep 2026$558M

Nokia Oyj · NOK

Dec 2021$682M

Mar 2022$177M

Jun 2022$467M

Sep 2022$417M

Dec 2022$3.2B

Mar 2023$290M

Jun 2023$287M

Sep 2023$130M

Dec 2023$-51M

Mar 2024$451M

Jun 2024$370M

Sep 2024$145M

Dec 2024$746M

Mar 2025$-59M

Jun 2025$99M

Sep 2025$80M

Dec 2025$534M

Mar 2026$87M

Jun 2026$27M

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021$104M

Mar 2022$50M

Jun 2022$93M

Sep 2022$93M

Dec 2022$112M

Mar 2023$99M

Jun 2023$104M

Sep 2023$88M

Dec 2023$82M

Mar 2024$76M

Jun 2024$104M

Sep 2024$128M

Dec 2024$137M

Mar 2025$180M

Jun 2025$267M

Sep 2025$208M

Dec 2025$234M

Mar 2026$234M

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021$-4M

Mar 2022$-22M

Jun 2022$-21M

Sep 2022$-48M

Dec 2022$-40M

Mar 2023$1.2B

Jun 2023$-77M

Sep 2023$-766M

Dec 2023$-119M

Mar 2024$-96M

Jun 2024$-22M

Sep 2024$-122M

Dec 2024$-147M

Mar 2025$-241M

Jun 2025$-48M

Sep 2025$-52M

Dec 2025$37M

Mar 2026$66M

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021$-55M

Mar 2022$35M

Jun 2022$19M

Sep 2022$17M

Dec 2022$33M

Mar 2023—

Jun 2023$-15M

Sep 2023$0M

Dec 2023$11M

Mar 2024$-25M

Jun 2024$-22M

Sep 2024$-2M

Dec 2024$9M

Mar 2025$20M

Jun 2025$7M

Sep 2025$-21M

Dec 2025$-48M

Mar 2026$6M

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021$199M

Mar 2022—

Jun 2022$205M

Sep 2022$-98M

Dec 2022$170M

Mar 2023—

Jun 2023$150M

Sep 2023$144M

Dec 2023$17M

Mar 2024$115M

Jun 2024$113M

Sep 2024$137M

Dec 2024$163M

Mar 2025$136M

Jun 2025$112M

Sep 2025$101M

Dec 2025$70M

Mar 2026—

Jun 2026$135M

Sep 2026—

Profit growth · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AST SpaceMobile, Inc. · ASTS

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-350%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Belden Inc. · BDC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202231%

Dec 2022136%

Mar 2023—

Jun 202343%

Sep 202317%

Dec 2023-31%

Mar 2024—

Jun 2024-22%

Sep 2024-22%

Dec 2024-19%

Mar 202541%

Jun 202524%

Sep 20255.6%

Dec 202517%

Mar 2026-1.9%

Jun 2026—

Sep 2026—

Ciena Corporation · CIEN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-95%

Dec 2022-44%

Mar 202365%

Jun 202349%

Sep 2023173%

Dec 202357%

Mar 2024-34%

Jun 2024-129%

Sep 2024-53%

Dec 2024-59%

Mar 2025-10%

Jun 2025—

Sep 2025257%

Dec 2025-49%

Mar 2026233%

Jun 20262,322%

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-6.5%

Dec 2022-10%

Mar 2023-6.7%

Jun 20235.5%

Sep 202341%

Dec 202336%

Mar 2024-5.0%

Jun 2024-41%

Sep 2024-45%

Dec 2024-25%

Mar 2025-7.8%

Jun 202532%

Sep 202518%

Dec 20255.5%

Mar 202631%

Jun 202635%

Sep 202651%

Hewlett Packard Enterprise Company · HPE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20224.3%

Dec 2022-112%

Mar 2023-2.3%

Jun 202367%

Sep 202313%

Dec 2023—

Mar 2024-23%

Jun 2024-25%

Sep 202410%

Dec 2024228%

Mar 202562%

Jun 2025-434%

Sep 2025-40%

Dec 2025-87%

Mar 2026-28%

Jun 2026—

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202259%

Dec 2022-100%

Mar 2023—

Jun 2023-250%

Sep 2023-271%

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026-3,462%

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-22%

Dec 2022-9.1%

Mar 2023—

Jun 20234.1%

Sep 202363%

Dec 2023113%

Mar 2024—

Jun 202460%

Sep 202451%

Dec 20242.5%

Mar 2025—

Jun 202516%

Sep 20250.2%

Dec 20256.2%

Mar 2026—

Jun 2026-29%

Sep 2026-1.1%

Nokia Oyj · NOK

Dec 2021—

Mar 2022—

Jun 202233%

Sep 202219%

Dec 2022362%

Mar 202364%

Jun 2023-39%

Sep 2023-69%

Dec 2023-102%

Mar 202456%

Jun 202429%

Sep 202412%

Dec 2024—

Mar 2025-113%

Jun 2025-73%

Sep 2025-45%

Dec 2025-28%

Mar 2026—

Jun 2026-73%

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021—

Mar 2022—

Jun 2022-40%

Sep 2022-30%

Dec 20227.7%

Mar 202398%

Jun 202312%

Sep 2023-5.4%

Dec 2023-27%

Mar 2024-23%

Jun 20240.0%

Sep 202445%

Dec 202467%

Mar 2025137%

Jun 2025157%

Sep 202563%

Dec 202571%

Mar 202630%

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021—

Mar 2022—

Jun 2022-217%

Sep 2022-1,060%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-108%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022467%

Dec 2022—

Mar 2023—

Jun 2023-179%

Sep 2023-100%

Dec 2023-67%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-18%

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-633%

Mar 2026-70%

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-145%

Dec 2022-15%

Mar 2023—

Jun 2023-27%

Sep 2023—

Dec 2023-90%

Mar 2024—

Jun 2024-25%

Sep 2024-4.9%

Dec 2024859%

Mar 202518%

Jun 2025-0.9%

Sep 2025-26%

Dec 2025-57%

Mar 2026—

Jun 202621%

Sep 2026—

08 · compare level, then change

Return On Capital Employed

Ubiquiti Inc. has the highest ROCE among the 29 Communication Equipment companies compared here, at 31.6%. Cisco Systems, Inc. is next at 18.2%. Ondas Inc. has the highest ROCE change at +15.5 percentage points, so level and change sit with different companies. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Ubiquiti Inc. leads ROCE at 31.6%, 13.4 percentage points above Cisco Systems, Inc.. Ondas Inc. has the strongest latest improvement at +15.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderUbiquiti Inc. · 31.6%

Gap73.6% versus #2 · Cisco Systems, Inc.

Persistence7/8 recent comparable periods

Coverage29/29 companies · 520 observations

Investor read: Ubiquiti Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Ubiquiti Inc. UI · older report32%

2Cisco Systems, Inc. CSCO18%

3BK Technologies Corporation BKTI · older report6.8%

4Lumentum Holdings Inc. LITE6.5%

5Motorola Solutions, Inc. MSI6.3%

ROCE changefastest improvers

1Ondas Inc. ONDS · older report+15.5 pp

2Lumentum Holdings Inc. LITE+6.7 pp

3AST SpaceMobile, Inc. ASTS+6.3 pp

4Ciena Corporation CIEN+4.4 pp

5Hewlett Packard Enterprise Company HPE+4.4 pp

Return on capital · company comparison

29/29 level · 29/29 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Ubiquiti Inc. UI	32%	+1.1 pp	Mar 2026
Cisco Systems, Inc. CSCO	18%	+3.9 pp	Sep 2026
BK Technologies Corporation BKTI	6.8%	−1.5 pp	Mar 2026
Lumentum Holdings Inc. LITE	6.5%	+6.7 pp	Jun 2026
Motorola Solutions, Inc. MSI	6.3%	−0.6 pp	Sep 2026
Ciena Corporation CIEN	5.1%	+4.4 pp	Jun 2026
Harmonic Inc. HLIT	3.7%	+3.0 pp	Jun 2026
Belden Inc. BDC	3.5%	+0.6 pp	Jun 2026
Zebra Technologies Corporation ZBRA	3.3%	+0.3 pp	Jun 2026
Extreme Networks, Inc. EXTR	3.0%	+1.1 pp	Mar 2026
Digi International Inc. DGII	2.2%	+0.3 pp	Mar 2026
Hewlett Packard Enterprise Company HPE	1.6%	+4.4 pp	Jun 2026
Viavi Solutions Inc. VIAV	1.5%	+0.9 pp	Mar 2026
AudioCodes Ltd. AUDC	1.4%	−0.1 pp	Mar 2026
Gilat Satellite Networks Ltd. GILT	0.9%	+1.7 pp	Mar 2026
ADTRAN Holdings, Inc. ADTN	0.7%	+1.1 pp	Mar 2026
Vistance Networks, Inc. VISN	0.4%	+0.6 pp	Mar 2026
Aviat Networks, Inc. AVNW	0.3%	−2.5 pp	Mar 2026
Viasat, Inc. VSAT	0.0%	+1.1 pp	Mar 2026
Nokia Oyj NOK	-0.2%	−0.7 pp	Jun 2026
Clearfield, Inc. CLFD	-0.8%	−1.4 pp	Mar 2026
Lantronix, Inc. LTRX	-1.2%	+2.4 pp	Mar 2026
Applied Optoelectronics, Inc. AAOI	-1.5%	+0.9 pp	Mar 2026
Telesat Corporation TSAT	-1.6%	−2.1 pp	Mar 2026
Silicom Ltd. SILC	-2.2%	+0.1 pp	Mar 2026
NETGEAR, Inc. NTGR	-2.4%	−0.1 pp	Mar 2026
Ondas Inc. ONDS	-3.6%	+15.5 pp	Mar 2026
AST SpaceMobile, Inc. ASTS	-8.4%	+6.3 pp	Jun 2026
Frequency Electronics, Inc. FEIM	-9.1%	−14.4 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021-3.8%

Mar 2022-4.0%

Jun 2022-3.8%

Sep 2022-4.1%

Dec 2022-6.0%

Mar 2023-5.6%

Jun 2023-6.7%

Sep 2023-2.9%

Dec 2023-1.6%

Mar 2024-9.5%

Jun 2024-12%

Sep 2024-6.9%

Dec 2024-1.9%

Mar 2025-2.4%

Jun 2025-3.8%

Sep 2025-3.6%

Dec 2025-1.8%

Mar 2026-1.5%

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021-21%

Mar 2022-27%

Jun 2022-31%

Sep 2022-36%

Dec 2022-36%

Mar 2023-43%

Jun 2023-49%

Sep 2023-54%

Dec 2023-71%

Mar 2024-50%

Jun 2024-45%

Sep 2024-34%

Dec 2024-28%

Mar 2025-20%

Jun 2025-15%

Sep 2025-11%

Dec 2025-5.9%

Mar 2026-6.4%

Jun 2026-8.4%

Sep 2026—

Ciena Corporation · CIEN

Dec 20213.7%

Mar 20221.6%

Jun 20221.5%

Sep 20220.7%

Dec 20221.9%

Mar 20231.9%

Jun 20232.3%

Sep 20231.8%

Dec 20232.1%

Mar 20241.8%

Jun 2024-0.1%

Sep 20240.6%

Dec 20241.3%

Mar 20251.7%

Jun 20250.7%

Sep 20251.6%

Dec 20250.2%

Mar 20264.1%

Jun 20265.1%

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 202119%

Mar 202221%

Jun 202221%

Sep 202221%

Dec 202221%

Mar 202321%

Jun 202321%

Sep 202322%

Dec 202323%

Mar 202423%

Jun 202418%

Sep 202416%

Dec 202414%

Mar 202514%

Jun 202514%

Sep 202514%

Dec 202515%

Mar 202616%

Jun 202617%

Sep 202618%

Hewlett Packard Enterprise Company · HPE

Dec 20211.0%

Mar 20221.2%

Jun 20220.6%

Sep 20221.3%

Dec 2022-1.0%

Mar 20231.7%

Jun 20231.5%

Sep 20231.3%

Dec 20231.5%

Mar 20241.5%

Jun 20241.2%

Sep 20241.5%

Dec 20241.7%

Mar 20251.1%

Jun 2025-2.8%

Sep 20250.6%

Dec 20250.0%

Mar 20261.0%

Jun 20261.6%

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 20213.9%

Mar 20222.9%

Jun 20221.4%

Sep 20221.7%

Dec 20220.4%

Mar 2023—

Jun 2023-1.5%

Sep 2023-1.5%

Dec 2023-2.8%

Mar 2024-3.1%

Jun 2024-3.5%

Sep 2024-2.2%

Dec 2024-1.4%

Mar 2025-1.0%

Jun 2025-0.2%

Sep 20250.2%

Dec 20252.8%

Mar 20265.1%

Jun 20266.5%

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 20216.0%

Mar 2022—

Jun 20223.2%

Sep 20224.5%

Dec 20224.7%

Mar 2023—

Jun 20234.9%

Sep 20236.3%

Dec 20239.3%

Mar 20246.1%

Jun 20247.5%

Sep 20248.7%

Dec 20249.5%

Mar 20256.4%

Jun 20256.7%

Sep 20256.9%

Dec 20258.3%

Mar 2026—

Jun 20264.6%

Sep 20266.3%

Nokia Oyj · NOK

Dec 20212.8%

Mar 20221.3%

Jun 20222.1%

Sep 20221.8%

Dec 20223.0%

Mar 20231.5%

Jun 20231.6%

Sep 20230.8%

Dec 20231.8%

Mar 20241.4%

Jun 20241.5%

Sep 20241.0%

Dec 20243.0%

Mar 2025-0.1%

Jun 20250.5%

Sep 20250.9%

Dec 20252.0%

Mar 20260.2%

Jun 2026-0.2%

Sep 2026—

Ubiquiti Inc. · UI

Dec 202121%

Mar 202211%

Jun 202220%

Sep 202220%

Dec 202221%

Mar 202317%

Jun 202318%

Sep 202316%

Dec 202313%

Mar 202411%

Jun 202414%

Sep 202418%

Dec 202420%

Mar 202531%

Jun 202532%

Sep 202531%

Dec 202531%

Mar 202632%

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021-0.6%

Mar 2022-0.9%

Jun 2022-1.0%

Sep 20220.1%

Dec 2022-0.6%

Mar 2023-1.2%

Jun 2023-0.4%

Sep 2023-7.6%

Dec 2023-0.4%

Mar 20240.0%

Jun 20240.4%

Sep 2024-0.2%

Dec 20240.1%

Mar 2025-1.1%

Jun 20250.3%

Sep 20250.3%

Dec 20250.2%

Mar 20260.0%

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 20212.7%

Mar 20222.9%

Jun 20222.5%

Sep 20223.6%

Dec 20223.0%

Mar 2023—

Jun 2023-0.1%

Sep 20230.8%

Dec 20231.5%

Mar 2024-0.8%

Jun 2024-0.4%

Sep 20240.8%

Dec 20241.5%

Mar 20250.6%

Jun 20251.1%

Sep 20250.5%

Dec 20250.6%

Mar 20261.5%

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 20216.1%

Mar 2022—

Jun 20225.2%

Sep 2022-3.1%

Dec 20224.2%

Mar 2023—

Jun 20234.6%

Sep 20233.5%

Dec 20231.4%

Mar 20242.9%

Jun 20242.9%

Sep 20243.2%

Dec 20243.8%

Mar 20253.3%

Jun 20253.0%

Sep 20252.9%

Dec 20252.2%

Mar 2026—

Jun 20263.3%

Sep 2026—

ROCE change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Applied Optoelectronics, Inc. · AAOI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−2.2 pp

Mar 2023−1.6 pp

Jun 2023−2.9 pp

Sep 2023+1.2 pp

Dec 2023+4.4 pp

Mar 2024−3.9 pp

Jun 2024−5.3 pp

Sep 2024−4.0 pp

Dec 2024−0.3 pp

Mar 2025+7.1 pp

Jun 2025+8.2 pp

Sep 2025+3.3 pp

Dec 2025+0.1 pp

Mar 2026+0.9 pp

Jun 2026—

Sep 2026—

AST SpaceMobile, Inc. · ASTS

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−15.0 pp

Mar 2023−15.9 pp

Jun 2023−17.7 pp

Sep 2023−18.3 pp

Dec 2023−35.2 pp

Mar 2024−6.5 pp

Jun 2024+4.2 pp

Sep 2024+20.7 pp

Dec 2024+43.1 pp

Mar 2025+30.2 pp

Jun 2025+30.2 pp

Sep 2025+22.4 pp

Dec 2025+21.7 pp

Mar 2026+13.1 pp

Jun 2026+6.3 pp

Sep 2026—

Ciena Corporation · CIEN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−1.8 pp

Mar 2023+0.3 pp

Jun 2023+0.8 pp

Sep 2023+1.1 pp

Dec 2023+0.2 pp

Mar 2024−0.1 pp

Jun 2024−2.4 pp

Sep 2024−1.2 pp

Dec 2024−0.8 pp

Mar 2025−0.1 pp

Jun 2025+0.8 pp

Sep 2025+1.0 pp

Dec 2025−1.1 pp

Mar 2026+2.4 pp

Jun 2026+4.4 pp

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+1.4 pp

Mar 20230.0 pp

Jun 2023+0.5 pp

Sep 2023+1.6 pp

Dec 2023+2.3 pp

Mar 2024+2.2 pp

Jun 2024−3.3 pp

Sep 2024−6.6 pp

Dec 2024−9.0 pp

Mar 2025−8.6 pp

Jun 2025−3.7 pp

Sep 2025−1.2 pp

Dec 2025+1.1 pp

Mar 2026+1.6 pp

Jun 2026+2.6 pp

Sep 2026+3.9 pp

Hewlett Packard Enterprise Company · HPE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−2.0 pp

Mar 2023+0.5 pp

Jun 2023+0.9 pp

Sep 20230.0 pp

Dec 2023+2.5 pp

Mar 2024−0.2 pp

Jun 2024−0.3 pp

Sep 2024+0.2 pp

Dec 2024+0.2 pp

Mar 2025−0.4 pp

Jun 2025−4.0 pp

Sep 2025−0.9 pp

Dec 2025−1.7 pp

Mar 2026−0.1 pp

Jun 2026+4.4 pp

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−3.5 pp

Mar 2023—

Jun 2023−2.9 pp

Sep 2023−3.2 pp

Dec 2023−3.2 pp

Mar 2024—

Jun 2024−2.0 pp

Sep 2024−0.7 pp

Dec 2024+1.4 pp

Mar 2025+2.1 pp

Jun 2025+3.3 pp

Sep 2025+2.4 pp

Dec 2025+4.2 pp

Mar 2026+6.1 pp

Jun 2026+6.7 pp

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−1.3 pp

Mar 2023—

Jun 2023+1.7 pp

Sep 2023+1.8 pp

Dec 2023+4.6 pp

Mar 2024—

Jun 2024+2.6 pp

Sep 2024+2.4 pp

Dec 2024+0.2 pp

Mar 2025+0.3 pp

Jun 2025−0.8 pp

Sep 2025−1.8 pp

Dec 2025−1.2 pp

Mar 2026—

Jun 2026−2.1 pp

Sep 2026−0.6 pp

Nokia Oyj · NOK

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+0.2 pp

Mar 2023+0.2 pp

Jun 2023−0.5 pp

Sep 2023−1.0 pp

Dec 2023−1.2 pp

Mar 2024−0.1 pp

Jun 2024−0.1 pp

Sep 2024+0.2 pp

Dec 2024+1.2 pp

Mar 2025−1.5 pp

Jun 2025−1.0 pp

Sep 2025−0.1 pp

Dec 2025−1.0 pp

Mar 2026+0.3 pp

Jun 2026−0.7 pp

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−0.3 pp

Mar 2023+6.5 pp

Jun 2023−1.5 pp

Sep 2023−3.7 pp

Dec 2023−7.5 pp

Mar 2024−6.2 pp

Jun 2024−3.7 pp

Sep 2024+2.6 pp

Dec 2024+6.5 pp

Mar 2025+19.3 pp

Jun 2025+17.8 pp

Sep 2025+12.2 pp

Dec 2025+11.2 pp

Mar 2026+1.1 pp

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.0 pp

Mar 2023−0.3 pp

Jun 2023+0.6 pp

Sep 2023−7.7 pp

Dec 2023+0.2 pp

Mar 2024+1.2 pp

Jun 2024+0.8 pp

Sep 2024+7.4 pp

Dec 2024+0.5 pp

Mar 2025−1.1 pp

Jun 2025−0.1 pp

Sep 2025+0.5 pp

Dec 2025+0.1 pp

Mar 2026+1.1 pp

Jun 2026—

Sep 2026—

Viavi Solutions Inc. · VIAV

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+0.3 pp

Mar 2023—

Jun 2023−2.6 pp

Sep 2023−2.8 pp

Dec 2023−1.5 pp

Mar 2024—

Jun 2024−0.3 pp

Sep 20240.0 pp

Dec 20240.0 pp

Mar 2025+1.4 pp

Jun 2025+1.5 pp

Sep 2025−0.3 pp

Dec 2025−0.9 pp

Mar 2026+0.9 pp

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−1.9 pp

Mar 2023—

Jun 2023−0.6 pp

Sep 2023+6.6 pp

Dec 2023−2.8 pp

Mar 2024—

Jun 2024−1.7 pp

Sep 2024−0.3 pp

Dec 2024+2.4 pp

Mar 2025+0.4 pp

Jun 2025+0.1 pp

Sep 2025−0.3 pp

Dec 2025−1.6 pp

Mar 2026—

Jun 2026+0.3 pp

Sep 2026—

09 · compare level, then change

Valuation Against Growth & Quality

BK Technologies Corporation has the lowest PEG among the 29 Communication Equipment companies compared here, at 0.55×. Ubiquiti Inc. is next at 0.6×. AST SpaceMobile, Inc. has the lowest P/E at -22.9×, so level and change sit with different companies. 11 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: BK Technologies Corporation has the lowest comparable PEG at 0.55×, 8.3% below Ubiquiti Inc.. Only 11 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderBK Technologies Corporation · 0.55×

Gap8.3% versus #2 · Ubiquiti Inc.

Persistence0/8 recent comparable periods

Coverage11/29 companies · 42 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1BK Technologies Corporation BKTI · older report0.6

2Ubiquiti Inc. UI · older report0.6

3Gilat Satellite Networks Ltd. GILT · older report0.8

4Cisco Systems, Inc. CSCO1.1

5Clearfield, Inc. CLFD · older report1.2

P/Elowest P/E

1AST SpaceMobile, Inc. ASTS-22.9

2Vistance Networks, Inc. VISN · older report0.6

3Viasat, Inc. VSAT · older report3.7

4Telesat Corporation TSAT · older report5.3

5Silicom Ltd. SILC · older report12.5

Valuation · company comparison

11/29 level · 27/29 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Nokia Oyj NOK	6.5	89.5	Jun 2026
Ciena Corporation CIEN	4.6	178.4	Jun 2026
Extreme Networks, Inc. EXTR	3.4	125.7	Mar 2026
Hewlett Packard Enterprise Company HPE	3.3	26.9	Jun 2026
Digi International Inc. DGII	2.3	42.7	Mar 2026
AudioCodes Ltd. AUDC	1.4	33.6	Mar 2026
Belden Inc. BDC	1.3	19.4	Jun 2026
Clearfield, Inc. CLFD	1.2	4,341.0	Mar 2026
Cisco Systems, Inc. CSCO	1.1	33.9	Sep 2026
Zebra Technologies Corporation ZBRA	0.9	24.5	Jun 2026
Motorola Solutions, Inc. MSI	0.8	33.3	Sep 2026
Gilat Satellite Networks Ltd. GILT	0.8	29.5	Mar 2026
Harmonic Inc. HLIT	0.7	24.0	Jun 2026
Ubiquiti Inc. UI	0.6	50.8	Mar 2026
BK Technologies Corporation BKTI	0.6	20.9	Mar 2026
Silicom Ltd. SILC	0.3	12.6	Mar 2026
Lumentum Holdings Inc. LITE	—	130.1	Jun 2026
Viasat, Inc. VSAT	—	3.7	Mar 2026
Viavi Solutions Inc. VIAV	—	174.4	Mar 2026
Ondas Inc. ONDS	—	129.1	Mar 2026
Telesat Corporation TSAT	—	5.3	Mar 2026
Vistance Networks, Inc. VISN	—	0.6	Mar 2026
Frequency Electronics, Inc. FEIM	—	71.1	Jun 2026
NETGEAR, Inc. NTGR	—	13.1	Mar 2026
Aviat Networks, Inc. AVNW	—	33.2	Mar 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Belden Inc. · BDC

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20252.1

Dec 20250.9

Mar 20261.3

Jun 2026—

Sep 2026—

Ciena Corporation · CIEN

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20231.7

Dec 2023—

Mar 20241.3

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20254.6

Mar 2026—

Jun 2026—

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20232.0

Dec 20230.8

Mar 20240.8

Jun 20242.5

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20252.4

Mar 20261.2

Jun 20261.3

Sep 20261.1

Digi International Inc. · DGII

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20231.7

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20252.3

Mar 2026—

Jun 2026—

Sep 2026—

Extreme Networks, Inc. · EXTR

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20233.4

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Gilat Satellite Networks Ltd. · GILT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20241.1

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20250.8

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Harmonic Inc. · HLIT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20250.7

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Hewlett Packard Enterprise Company · HPE

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.4

Mar 20250.3

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 20263.3

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20250.6

Sep 20251.0

Dec 20250.8

Mar 2026—

Jun 2026—

Sep 2026—

Nokia Oyj · NOK

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20266.5

Jun 2026—

Sep 2026—

Ubiquiti Inc. · UI

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20232.6

Sep 20231.1

Dec 20233.3

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20242.3

Mar 20250.6

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

Zebra Technologies Corporation · ZBRA

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.9

Jun 20250.7

Sep 20250.9

Dec 2025—

Mar 2026—

Jun 2026—

Sep 2026—

P/E · reported quarter history

Showing the 12 largest of 25 companies with a series here. The remaining 13 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Belden Inc. · BDC

Dec 202120.4

Mar 2022—

Jun 202212.3

Sep 202211.1

Dec 20229.9

Mar 2023—

Jun 202313.6

Sep 202314.3

Dec 202315.7

Mar 202418.1

Jun 202420.0

Sep 202427.0

Dec 202423.5

Mar 202519.5

Jun 202521.1

Sep 202522.0

Dec 202519.7

Mar 202619.0

Jun 202619.4

Sep 2026—

Ciena Corporation · CIEN

Dec 202117.0

Mar 202220.7

Jun 202220.3

Sep 202240.6

Dec 202248.3

Mar 202341.8

Jun 202334.1

Sep 202328.1

Dec 202324.0

Mar 202433.4

Jun 202444.8

Sep 202453.4

Dec 2024110.3

Mar 2025161.4

Jun 2025101.2

Sep 202591.4

Dec 2025223.4

Mar 2026160.4

Jun 2026178.4

Sep 2026—

Cisco Systems, Inc. · CSCO

Dec 202120.7

Mar 202219.8

Jun 202217.0

Sep 202215.9

Dec 202216.3

Mar 202317.6

Jun 202316.9

Sep 202316.8

Dec 202315.4

Mar 202415.8

Jun 202416.0

Sep 202418.7

Dec 202423.7

Mar 202527.0

Jun 202523.0

Sep 202526.7

Dec 202527.0

Mar 202626.6

Jun 202629.4

Sep 202633.9

Hewlett Packard Enterprise Company · HPE

Dec 20215.7

Mar 20225.9

Jun 20225.5

Sep 20225.1

Dec 202221.6

Mar 202324.8

Jun 202318.4

Sep 202321.2

Dec 202310.0

Mar 202410.5

Jun 202412.4

Sep 202414.2

Dec 202410.1

Mar 202510.3

Jun 202516.4

Sep 202525.2

Dec 2025—

Mar 2026—

Jun 202626.9

Sep 2026—

Lumentum Holdings Inc. · LITE

Dec 202116.2

Mar 202221.3

Jun 202238.8

Sep 202229.0

Dec 202243.4

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025256.1

Sep 2025107.9

Dec 2025119.9

Mar 2026130.1

Jun 2026—

Sep 2026—

Motorola Solutions, Inc. · MSI

Dec 202132.4

Mar 2022—

Jun 202232.7

Sep 202230.3

Dec 202232.9

Mar 2023—

Jun 202335.8

Sep 202333.3

Dec 202331.5

Mar 202443.9

Jun 202445.2

Sep 202448.9

Dec 202450.1

Mar 202536.1

Jun 202533.7

Sep 202536.6

Dec 202530.1

Mar 2026—

Jun 202635.4

Sep 202633.3

Nokia Oyj · NOK

Dec 202118.9

Mar 202217.6

Jun 202214.7

Sep 202213.6

Dec 20225.9

Mar 20235.9

Jun 20235.2

Sep 20235.2

Dec 202325.8

Mar 202423.4

Jun 202458.8

Sep 202456.1

Dec 202418.5

Mar 202534.8

Jun 202523.1

Sep 202524.1

Dec 202546.0

Mar 202646.3

Jun 202689.5

Sep 2026—

Ondas Inc. · ONDS

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026129.1

Jun 2026—

Sep 2026—

Ubiquiti Inc. · UI

Dec 202135.9

Mar 202241.3

Jun 202240.5

Sep 202252.9

Dec 202247.6

Mar 202341.4

Jun 202326.1

Sep 202321.9

Dec 202322.7

Mar 202420.0

Jun 202425.2

Sep 202434.3

Dec 202445.1

Mar 202534.2

Jun 202535.0

Sep 202550.5

Dec 202537.7

Mar 202650.8

Jun 2026—

Sep 2026—

Viasat, Inc. · VSAT

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20232.4

Jun 20233.1

Sep 20232.3

Dec 20233.7

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

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Viavi Solutions Inc. · VIAV

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022187.0

Dec 202230.4

Mar 2023—

Jun 202360.2

Sep 2023103.0

Dec 2023503.5

Mar 2024—

Jun 2024—

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Dec 2024—

Mar 2025563.0

Jun 202566.7

Sep 2025174.4

Dec 2025—

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Zebra Technologies Corporation · ZBRA

Dec 202132.6

Mar 2022—

Jun 202227.3

Sep 202232.5

Dec 202229.9

Mar 2023—

Jun 202340.5

Sep 202323.7

Dec 202347.8

Mar 202459.8

Jun 202469.7

Sep 202450.2

Dec 202437.9

Mar 202526.6

Jun 202529.2

Sep 202530.2

Dec 202529.7

Mar 2026—

Jun 202624.5

Sep 2026—

10 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Communication Equipment comparison names 5 specific ways its own evidence can mislead, all listed below. 18 of the 29 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
18 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.

11 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 29 Communication Equipment companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 2026-09-16. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Sep 2026 · up to 20 quarters per company

Market dataThrough 2026-09-16 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

12 · questions investors ask, short speakable answers

Communication Equipment company comparison FAQs

These 22 answers restate the Communication Equipment comparison above in question form. Every one is computed from the same 29 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 2026-09-16. Nothing here is estimated, and none of it is a recommendation.

Is the Communication Equipment sector outperforming S&P 500?

Which Communication Equipment company is largest by revenue?

Cisco Systems, Inc. leads with revenue of $63,325 million, based on 24 of 29 comparable companies through Sep 2026.

Which Communication Equipment company is growing fastest?

AST SpaceMobile, Inc. has the fastest current revenue growth at 100%, across 24 of 29 comparable companies.

Which Communication Equipment company has the strongest 4-Factor Sector Score?

Cisco Systems, Inc. ranks first at 71.7/100 with 85.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Communication Equipment company has the lowest comparable PEG?

BK Technologies Corporation has the lowest comparable PEG at 0.55, among 11 of 29 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Communication Equipment comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which Communication Equipment company is the biggest?

Cisco Systems, Inc. is the largest, with trailing-twelve-month revenue of $63,325 million, ahead of Hewlett Packard Enterprise Company at $38,794 million. That covers 24 of 29 companies with comparable reporting through Sep 2026.

Which Communication Equipment company has the best profit margins?

Ubiquiti Inc. has the highest operating margin at 36.9%, from 29 of 29 comparable companies. AST SpaceMobile, Inc. shows the biggest improvement (+5752.7 percentage points — see the chart above for the starting level). A high margin matters most when it is holding or rising, not when it is peaking.

Which Communication Equipment company makes the most profit?

Cisco Systems, Inc. earns the most, at $13,267 million of trailing-twelve-month net profit, from 24 of 29 comparable companies. Ciena Corporation has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Communication Equipment company earns the highest return on capital?

Ubiquiti Inc. leads on return on capital employed at 31.6%, across 29 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Communication Equipment stock is the cheapest?

On PEG — where a LOWER number is cheaper — BK Technologies Corporation screens cheapest at 0.55×. Only 11 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Communication Equipment sector beating the market?

Communication Equipment has outperformed S&P 500 by 41.9% over the last 52 weeks and 10.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 14 of 29 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Communication Equipment stock has the strongest price momentum?

Hewlett Packard Enterprise Company has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Communication Equipment company scores highest for research priority?

Cisco Systems, Inc. scores 71.7 out of 100 with 85.3% evidence confidence, from 24.5 points on growth and earnings, 20.4 on capital efficiency, 12.4 on valuation and 14.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Communication Equipment companies does this comparison cover, and over what period?

It compares 29 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Communication Equipment sector?

The 29 Communication Equipment companies on this page carry $888,867 million of combined market value. Cisco Systems, Inc. is the largest at $424,774 million, about 48% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-16.

What is the Communication Equipment sector's P/E ratio?

The median price-to-earnings ratio across the 29 Communication Equipment companies on this page is 33.6×, measured on the 26 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-09-16.

How is the Communication Equipment sector performing?

14 of the 29 covered Communication Equipment companies are beating S&P 500 on Mansfield relative strength. The sector itself is 41.9% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-16.

How many Communication Equipment stocks are listed in the US?

This comparison covers 29 listed Communication Equipment companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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Not SEBI Registered !! Not Investment advice !!