Communication services in 2026 tracks digital advertising, subscriber economics, content monetization, and telecom investment. Watch how platform businesses convert scale into earnings growth versus lower-growth telecom operators.
Sector AnalysisETF: XLCUpdated Jun 21, 2026
Communication Services Sector Stocks
Communication Services combines traditional telecom with media, streaming, and internet platforms. Since the GICS reshuffle moved major digital advertising companies out of technology, the sector spans very different economic models. XLC is the large-cap benchmark. Screening is especially valuable because valuation, capital intensity, and growth durability differ sharply between telecom and platform businesses.
Research ByVCP Scanner Editorial Team
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| Ticker | Company | Price | Mkt Cap | P/E | ROE | Div Yield | |
|---|---|---|---|---|---|---|---|
| Netflix, Inc. | $77.38 | $327.88B | 30.6 | 42.8% | — | ||
| Comcast Holdings Corp. | $65.50 | $236.91B | 12.2 | 21.5% | 2% | ||
| T-Mobile US, Inc. | $181.67 | $196.6B | 18.7 | 18.2% | 2% | ||
| Verizon Communications Inc. | $45.37 | $191.36B | 11.2 | 16.6% | 6% | ||
| The Walt Disney Company | $103.89 | $180.41B | 15.2 | 11.3% | 1% | ||
| AT&T Inc. | $22.01 | $153.71B | 7.2 | 17.6% | 5.2% | ||
| AT&T Inc. 5.35% GLB NTS 66 | $20.60 | $126.48B | 6.8 | 17.6% | 5.5% | ||
| Spotify Technology S.A. | $468.08 | $96.35B | 38.9 | 31.9% | — | ||
| Comcast Corporation | $22.43 | $81.73B | 4.2 | 21.6% | 6% | ||
| América Móvil, S.A.B. de C.V. | $26.46 | $79.61B | 17.8 | 18.1% | 2.2% | ||
| DoorDash, Inc. | $173.46 | $75.58B | 81.4 | 10.5% | — | ||
| Nebius Group N.V. | $286.69 | $68.81B | 2606.3 | 2.6% | — | ||
| Warner Bros. Discovery, Inc. | $26.20 | $65.69B | 90.3 | 2% | — | ||
| RELX Plc | $31.18 | $56.39B | 22.9 | 55.7% | 2.5% | ||
| Live Nation Entertainment, Inc. | $171.24 | $39.79B | -713.5 | 26.4% | — | ||
| TKO Group Holdings, Inc. | $198.78 | $38.69B | 88.0 | 2.2% | 1.7% | ||
| Baidu, Inc. | $111.76 | $38.01B | 64.3 | 1.9% | — | ||
| Chunghwa Telecom Co., Ltd. | $45.32 | $35.16B | 28.7 | 9.7% | 3.5% | ||
| Reddit, Inc. | $174.73 | $33.46B | 66.7 | 20.9% | — | ||
| Vodafone Group Public Limited Company | $14.30 | $33B | -78.0 | -0.7% | 3.7% | ||
| Twilio Inc. | $186.17 | $28.21B | 886.5 | 0.4% | — | ||
| Telefónica, S.A. | $4.33 | $24.41B | -65.1 | -0.2% | 8.5% | ||
| Fox Corporation | $52.23 | $22.9B | 10.6 | 19.3% | 1.2% | ||
| Formula One Group | $90.76 | $22.74B | 42.2 | 7% | — | ||
| Omnicom Group Inc. | $71.35 | $22.14B | -264.3 | -0.6% | 3.8% | ||
| BCE Inc. | $23.28 | $21.71B | 4.9 | 31.8% | 7.1% | ||
| Fox Corporation | $46.95 | $20.59B | 9.6 | 19.3% | 1.3% | ||
| Roku, Inc. | $138.07 | $20.39B | 234.0 | 3.4% | — | ||
| Rogers Communications Inc. | $37.57 | $20.3B | 4.2 | 39.7% | 3.6% | ||
| Telefônica Brasil S.A. | $12.59 | $20.12B | 17.2 | 8.7% | 2% |
NFLXNetflix, Inc.
$77.38Price
Mkt Cap$327.88B
P/E30.6
ROE42.8%
Div Yield—
CCZComcast Holdings Corp.
$65.50Price
Mkt Cap$236.91B
P/E12.2
ROE21.5%
Div Yield2%
TMUST-Mobile US, Inc.
$181.67Price
Mkt Cap$196.6B
P/E18.7
ROE18.2%
Div Yield2%
VZVerizon Communications Inc.
$45.37Price
Mkt Cap$191.36B
P/E11.2
ROE16.6%
Div Yield6%
DISThe Walt Disney Company
$103.89Price
Mkt Cap$180.41B
P/E15.2
ROE11.3%
Div Yield1%
TAT&T Inc.
$22.01Price
Mkt Cap$153.71B
P/E7.2
ROE17.6%
Div Yield5.2%
TBBAT&T Inc. 5.35% GLB NTS 66
$20.60Price
Mkt Cap$126.48B
P/E6.8
ROE17.6%
Div Yield5.5%
SPOTSpotify Technology S.A.
$468.08Price
Mkt Cap$96.35B
P/E38.9
ROE31.9%
Div Yield—
CMCSAComcast Corporation
$22.43Price
Mkt Cap$81.73B
P/E4.2
ROE21.6%
Div Yield6%
AMXAmérica Móvil, S.A.B. de C.V.
$26.46Price
Mkt Cap$79.61B
P/E17.8
ROE18.1%
Div Yield2.2%
DASHDoorDash, Inc.
$173.46Price
Mkt Cap$75.58B
P/E81.4
ROE10.5%
Div Yield—
NBISNebius Group N.V.
$286.69Price
Mkt Cap$68.81B
P/E2606.3
ROE2.6%
Div Yield—
WBDWarner Bros. Discovery, Inc.
$26.20Price
Mkt Cap$65.69B
P/E90.3
ROE2%
Div Yield—
RELXRELX Plc
$31.18Price
Mkt Cap$56.39B
P/E22.9
ROE55.7%
Div Yield2.5%
LYVLive Nation Entertainment, Inc.
$171.24Price
Mkt Cap$39.79B
P/E-713.5
ROE26.4%
Div Yield—
TKOTKO Group Holdings, Inc.
$198.78Price
Mkt Cap$38.69B
P/E88.0
ROE2.2%
Div Yield1.7%
BIDUBaidu, Inc.
$111.76Price
Mkt Cap$38.01B
P/E64.3
ROE1.9%
Div Yield—
CHTChunghwa Telecom Co., Ltd.
$45.32Price
Mkt Cap$35.16B
P/E28.7
ROE9.7%
Div Yield3.5%
RDDTReddit, Inc.
$174.73Price
Mkt Cap$33.46B
P/E66.7
ROE20.9%
Div Yield—
VODVodafone Group Public Limited Company
$14.30Price
Mkt Cap$33B
P/E-78.0
ROE-0.7%
Div Yield3.7%
TWLOTwilio Inc.
$186.17Price
Mkt Cap$28.21B
P/E886.5
ROE0.4%
Div Yield—
TEFTelefónica, S.A.
$4.33Price
Mkt Cap$24.41B
P/E-65.1
ROE-0.2%
Div Yield8.5%
FOXAFox Corporation
$52.23Price
Mkt Cap$22.9B
P/E10.6
ROE19.3%
Div Yield1.2%
FWONKFormula One Group
$90.76Price
Mkt Cap$22.74B
P/E42.2
ROE7%
Div Yield—
OMCOmnicom Group Inc.
$71.35Price
Mkt Cap$22.14B
P/E-264.3
ROE-0.6%
Div Yield3.8%
BCEBCE Inc.
$23.28Price
Mkt Cap$21.71B
P/E4.9
ROE31.8%
Div Yield7.1%
FOXFox Corporation
$46.95Price
Mkt Cap$20.59B
P/E9.6
ROE19.3%
Div Yield1.3%
ROKURoku, Inc.
$138.07Price
Mkt Cap$20.39B
P/E234.0
ROE3.4%
Div Yield—
RCIRogers Communications Inc.
$37.57Price
Mkt Cap$20.3B
P/E4.2
ROE39.7%
Div Yield3.6%
VIVTelefônica Brasil S.A.
$12.59Price
Mkt Cap$20.12B
P/E17.2
ROE8.7%
Div Yield2%
Market Comparison
Communication Services Sector vs S&P 500 in one glance
This should answer the only question that matters here: are you getting something better than the market for the price you are paying?
Price vs market
Cheaper
19% below S&P 500 trailing P/E
Quality vs market
Higher quality
Net margin 34.0% vs 25.7%; ROE 35.5% vs 47.7%
Income vs market
Lower yield
Sector yield 0.48% vs 1.00%
Comparison table
Winner should register in under three seconds.
| Metric | Communication Services Sector | S&P 500 | Delta | Winner |
|---|---|---|---|---|
Trailing P/E Sector is cheaper | 28.0x | 34.5x | -19% | Sector cheaper |
Forward P/E Sector is cheaper | 22.3x | 24.2x | -8% | Sector cheaper |
EV/EBITDA Sector is cheaper | 19.3x | 23.1x | -17% | Sector cheaper |
Net Margin Sector is stronger | 34.0% | 25.7% | +32% | Sector stronger |
ROE Market is stronger | 35.5% | 47.7% | -26% | S&P 500 stronger |
Dividend Yield Market is stronger | 0.5% | 1.0% | -52% | S&P 500 yields more |
History check
Is the current premium normal?
1-year contextRich vs history
85th percentile; range 15.1x to 30.2x
5-year contextRich vs history
90th percentile; range 7.5x to 30.2x
Internal health
Median revenue growth4.3%
Median gross margin46.3%
Median FCF margin13.7%
Against the S&P 500, Communication Services Sector currently trades at 28.0x trailing earnings versus 34.5x for the broad market. That premium only makes sense if investors keep believing the sector deserves better margins, stronger returns on equity, and more durable growth than the index overall.
Industry Breakdown
Where the real weight sits inside Communication Services Sector
These cards are built from the full sector universe, then ranked by market cap so you can see which pockets are leading, rich, resilient, or dangerously concentrated.
Industry Scoreboard
Fast scan of Communication Services Sector industry setups
Use this table to spot heavyweights, cheap pockets, leaders, and genuinely beaten-down areas before opening the detailed cards below.
Telecom Services 61 stocks | 41.3% $1.17T | Neutral -4.9% median 3M | Cheap 9.7x median Fwd P/E | High 8.1% median ROE | Average 1.1% rev growth | Attractive Diversified |
Entertainment 49 stocks | 30.5% $865.21B | Neutral +8.7% median 3M | Premium 20.8x median Fwd P/E | Mixed 2.7% median ROE | Weak 2.3% rev growth | Mixed Concentrated |
Internet Services 61 stocks | 14.7% $416.59B | Neutral -3.6% median 3M | Fair 12.1x median Fwd P/E | Mixed -0.6% median ROE | Average 4.5% rev growth | Mixed Diversified |
Broadcasting 18 stocks | 8.6% $243.5B | Neutral -1.7% median 3M | Fair 7.4x median Fwd P/E | Weak -7.9% median ROE | Weak -6.1% rev growth | Mixed One-name heavy |
Publishing 10 stocks | 3.0% $85.77B | Leading +13.4% median 3M | Premium 22.8x median Fwd P/E | High 21.9% median ROE | Average -3.2% rev growth | Expensive Leader One-name heavy |
Advertising & Marketing 43 stocks | 1.9% $52.98B | Neutral +1.5% median 3M | Fair 9.0x median Fwd P/E | Mixed 1.0% median ROE | Strong 2.2% rev growth | Watchlist Concentrated |
Asset Management 1 stocks | 0.0% $915M | Neutral +48.0% median 3M | Fair - median Fwd P/E | Weak -135.3% median ROE | Strong 107.2% rev growth | Watchlist One-name heavy |
Gaming & Multimedia 2 stocks | 0.0% $151M | Neutral -0.3% median 3M | Fair 20.7x median Fwd P/E | High 15.4% median ROE | Weak -74.1% rev growth | Watchlist One-name heavy |
Showing 8 of 8 industries in Communication Services Sector.
Setup is a quick read of value, quality, growth, momentum, and concentration together.
41.3% OF SECTOR
Telecom Services
Cheap vs sectorHigh qualityNeutralAverage growthDiversified
Telecom Services is a core pocket of communication services, moving broadly in line with the rest of the sector; growth is near the sector average, business quality is stronger than the sector median, and valuation sits below sector norms.
Median 3M return
-4.9%
Forward P/E
9.7x
Top 3 weight
46.3%
Market cap
$1.17T
Coverage
61 stocks
Breadth
39% pos. in 3M
Open filtered screener
30.5% OF SECTOR
Entertainment
Premium vs sectorMixed qualityNeutralWeak growthConcentrated
Entertainment is a core pocket of communication services, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality signals are mixed, and valuation still carries a premium. Leadership is concentrated in a few names.
Median 3M return
+8.7%
Forward P/E
20.8x
Top 3 weight
66.3%
Market cap
$865.21B
Coverage
49 stocks
Breadth
65% pos. in 3M
Open filtered screener
14.7% OF SECTOR
Internet Services
Fairly pricedMixed qualityNeutralAverage growthDiversified
Internet Services is a major pocket of communication services, moving broadly in line with the rest of the sector; growth is near the sector average, quality signals are mixed, and valuation is close to sector norms.
Median 3M return
-3.6%
Forward P/E
12.1x
Top 3 weight
57.8%
Market cap
$416.59B
Coverage
61 stocks
Breadth
42% pos. in 3M
Open filtered screener
8.6% OF SECTOR
Broadcasting
Fairly pricedWeak qualityNeutralWeak growthOne-name heavy
Broadcasting is a meaningful pocket of communication services, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality metrics trail the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
-1.7%
Forward P/E
7.4x
Top 3 weight
99.0%
Market cap
$243.5B
Coverage
18 stocks
Breadth
41% pos. in 3M
Open filtered screener
3.0% OF SECTOR
Publishing
Premium vs sectorHigh qualityLeadingAverage growthOne-name heavy
Publishing is a smaller pocket of communication services, still leading on price action; growth is near the sector average, business quality is stronger than the sector median, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.
Median 3M return
+13.4%
Forward P/E
22.8x
Top 3 weight
90.5%
Market cap
$85.77B
Coverage
10 stocks
Breadth
78% pos. in 3M
Open filtered screener
1.9% OF SECTOR
Advertising & Marketing
Fairly pricedMixed qualityNeutralStrong growthConcentrated
Advertising & Marketing is a smaller pocket of communication services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation is close to sector norms. Leadership is concentrated in a few names.
Median 3M return
+1.5%
Forward P/E
9.0x
Top 3 weight
66.0%
Market cap
$52.98B
Coverage
43 stocks
Breadth
54% pos. in 3M
Open filtered screener
0.0% OF SECTOR
Asset Management
Fairly pricedWeak qualityNeutralStrong growthOne-name heavy
Asset Management is a smaller pocket of communication services, moving broadly in line with the rest of the sector; growth is running above sector norms, quality metrics trail the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
+48.0%
Forward P/E
-
Top 3 weight
100.0%
Market cap
$915M
Coverage
1 stocks
Breadth
100% pos. in 3M
Open filtered screener
0.0% OF SECTOR
Gaming & Multimedia
Fairly pricedHigh qualityNeutralWeak growthOne-name heavy
Gaming & Multimedia is a smaller pocket of communication services, moving broadly in line with the rest of the sector; growth is softer than the sector average, business quality is stronger than the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
-0.3%
Forward P/E
20.7x
Top 3 weight
100.0%
Market cap
$151M
Coverage
2 stocks
Breadth
50% pos. in 3M
Open filtered screener
Sector Outlook
Communication Services Sector Outlook - Q1 2026
Updated Q1 2026
Leadership may come from companies with stronger user engagement, ad pricing resilience, or disciplined capital returns. Capital-intensive operators depend more on execution and balance sheet management.
Relative valuation works best within the right subgroup rather than across the entire basket.
Earnings Calendar
Upcoming Earnings in Communication Services Sector
Earnings reports are the biggest near-term catalysts for sector moves. Track which names report in the next 60 days and size your positions accordingly.
No earnings in the next 60 days
Check individual stock pages for the latest earnings dates and estimated EPS.
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