Top Communication Services Stocks by Total Assets
Top communication services companies ranked by total assets, latest annual filings.
What Total Assets Means for Communication Services Companies
Total assets in communication services splits along an old line. Network operators carry spectrum licenses, towers, fiber and cable plant, among the largest balance sheets outside finance. Media groups and platforms carry capitalized content, film libraries and goodwill from acquisitions instead. Both sets of numbers are book values from the latest annual accounts, recorded at what was paid rather than what the asset now commands.
Why It Matters in Communication Services
For the network side total assets is close to the business itself; coverage, capacity and reach are the plant, and the capital program that renews them sets both the depreciation charge and the debt load, so asset growth and network growth move together. The caveat sits in the intangibles. Spectrum and content libraries are carried at what a past auction or production budget cost, and that figure says little about what audiences or subscribers are worth now.
What to Read Alongside
Pair total assets with Return on Assets to see what the network earns, Revenue for the subscriber and advertising activity it supports, and Long-Term Debt to see how much of it was borrowed.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc. | Communication Services | $595.28B | $3.84T |
| 2 | T | AT&T Inc. | Communication Services | $420.20B | $140.46B |
| 3 | VZ | Verizon Communications Inc. | Communication Services | $404.26B | $178.65B |
| 4 | META | Meta Platforms, Inc. | Communication Services | $366.02B | $1.61T |
| 5 | CMCSA | Comcast Corporation | Communication Services | $272.63B | $78.30B |
| 6 | TMUS | T-Mobile US, Inc. | Communication Services | $219.24B | $157.61B |
| 7 | DIS | The Walt Disney Company | Communication Services | $197.51B | $190.63B |
| 8 | CHTR | Charter Communications, Inc. | Communication Services | $154.21B | $11.70B |
| 9 | VOD | Vodafone Group Public Limited Company | Communication Services | $138.75B | $36.37B |
| 10 | AMX | América Móvil, S.A.B. de C.V. | Communication Services | $100.17B | $72.20B |
| 11 | RCI | Rogers Communications Inc. | Communication Services | $65.64B | $17.47B |
| 12 | BIDU | Baidu, Inc. | Communication Services | $64.23B | $26.51B |
| 13 | BCE | BCE Inc. | Communication Services | $58.46B | $18.88B |
| 14 | NFLX | Netflix, Inc. | Communication Services | $55.60B | $266.08B |
| 15 | OMC | Omnicom Group Inc. | Communication Services | $54.42B | $21.90B |
| 16 | SKYD | Skydance Corporation | Communication Services | $46.17B | $37.77B |
| 17 | TU | TELUS Corporation | Communication Services | $43.48B | $13.69B |
| 18 | ECHO | EchoStar Corporation | Communication Services | $43.02B | $25.96B |
| 19 | LUMN | Lumen Technologies, Inc. | Communication Services | $34.34B | $4.57B |
| 20 | NTES | NetEase, Inc. | Communication Services | $31.66B | $75.76B |
| 21 | KT | KT Corporation | Communication Services | $28.42B | $8.04B |
| 22 | SIRI | Sirius XM Holdings Inc. | Communication Services | $27.24B | $9.24B |
| 23 | LYV | Live Nation Entertainment, Inc. | Communication Services | $22.91B | $40.20B |
| 24 | LBTYA | Liberty Global Ltd. | Communication Services | $22.60B | $2.57B |
| 25 | FOX | Fox Corporation | Communication Services | $22.48B | $24.52B |
| 26 | SKM | SK Telecom Co., Ltd. | Communication Services | $20.65B | $11.71B |
| 27 | SPOT | Spotify Technology S.A. | Communication Services | $17.62B | $117.67B |
| 28 | TIGO | Millicom International Cellular S.A. | Communication Services | $17.25B | $13.14B |
| 29 | TLK | Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk | Communication Services | $17.23B | $12.08B |
| 30 | CHT | Chunghwa Telecom Co., Ltd. | Communication Services | $17.08B | $37.34B |
| 31 | TV | Grupo Televisa, S.A.B. | Communication Services | $16.36B | $1.21B |
| 32 | NWS | News Corporation | Communication Services | $15.54B | $18.02B |
| 33 | TKO | TKO Group Holdings, Inc. | Communication Services | $15.50B | $32.41B |
| 34 | FWONA | Formula One Group | Communication Services | $15.40B | $20.63B |
| 35 | NBIS | Nebius Group N.V. | Communication Services | $12.43B | $41.67B |
| 36 | TME | Tencent Music Entertainment Group | Communication Services | $12.39B | $13.82B |
| 37 | VSNT | Versant Media Group, Inc. | Communication Services | $12.33B | $4.26B |
| 38 | LILA | Liberty Latin America Ltd. | Communication Services | $12.23B | $1.52B |
| 39 | NXST | Nexstar Media Group, Inc. | Communication Services | $10.85B | $5.08B |
| 40 | WMG | Warner Music Group Corp. | Communication Services | $9.83B | $15.84B |
| 41 | RBLX | Roblox Corporation | Communication Services | $9.56B | $38.84B |
| 42 | TTWO | Take-Two Interactive Software, Inc. | Communication Services | $9.38B | $38.02B |
| 43 | VEON | VEON Ltd. | Communication Services | $9.21B | $5.82B |
| 44 | PSO | Pearson plc | Communication Services | $8.68B | $11.00B |
| 45 | TDS | Telephone and Data Systems, Inc. | Communication Services | $8.40B | $4.11B |
| 46 | AMC | AMC Entertainment Holdings, Inc. | Communication Services | $8.02B | $2.58B |
| 47 | SNAP | Snap Inc. | Communication Services | $7.68B | $10.72B |
| 48 | JOYY | JOYY Inc. | Communication Services | $7.55B | $4.06B |
| 49 | APP | AppLovin Corporation | Communication Services | $7.26B | $87.26B |
| 50 | PPLI | People Incorporated | Communication Services | $7.19B | $2.84B |
| 51 | WB | Weibo Corporation | Communication Services | $7.09B | $1.52B |
| 52 | IQ | iQIYI, Inc. | Communication Services | $6.68B | $846.33M |
| 53 | TTD | The Trade Desk, Inc. | Communication Services | $6.15B | $6.04B |
| 54 | SBGI | Sinclair, Inc. | Communication Services | $5.95B | $865.65M |
| 55 | BILI | Bilibili Inc. | Communication Services | $5.89B | $5.51B |
| 56 | Z | Zillow Group, Inc. | Communication Services | $5.68B | $7.34B |
| 57 | PINS | Pinterest, Inc. | Communication Services | $5.49B | $12.02B |
| 58 | STUB | StubHub Holdings, Inc. | Communication Services | $5.05B | $2.15B |
| 59 | AD | Array Digital Infrastructure, Inc. | Communication Services | $4.68B | $2.89B |
| 60 | MTCH | Match Group, Inc | Communication Services | $4.46B | $10.38B |
| 61 | ROKU | Roku, Inc. | Communication Services | $4.43B | $23.35B |
| 62 | STGW | Stagwell Inc. | Communication Services | $4.21B | $2.12B |
| 63 | SPHR | Sphere Entertainment Co. | Communication Services | $4.21B | $3.97B |
| 64 | ATHM | Autohome Inc. | Communication Services | $4.05B | $2.35B |
| 65 | PLTK | Playtika Holding Corp. | Communication Services | $3.72B | $778.09M |
| 66 | ZD | Ziff Davis, Inc. | Communication Services | $3.66B | $1.98B |
| 67 | BZ | Kanzhun Limited | Communication Services | $3.51B | $7.29B |
| 68 | RDDT | Reddit, Inc. | Communication Services | $3.24B | $26.64B |
| 69 | GLIBA | Liberty Capital Corporation | Communication Services | $3.23B | $832.42M |
| 70 | MGNI | Magnite, Inc. | Communication Services | $3.16B | $3.10B |
| 71 | NYT | The New York Times Company | Communication Services | $3.00B | $11.40B |
| 72 | DJT | Trump Media & Technology Group Corp. | Communication Services | $2.63B | $1.71B |
| 73 | WLY | John Wiley & Sons, Inc. | Communication Services | $2.59B | $2.72B |
| 74 | IRDM | Iridium Communications Inc. | Communication Services | $2.53B | $4.72B |
| 75 | GSAT | Globalstar, Inc. | Communication Services | $2.33B | $10.74B |
| 76 | MANU | MANCHESTER UNITED PLC | Communication Services | $2.25B | $3.57B |
| 77 | CRTO | Criteo S.A. | Communication Services | $2.20B | $708.99M |
| 78 | KYIV | Kyivstar Group Ltd. | Communication Services | $2.12B | $3.03B |
| 79 | MOMO | Hello Group Inc. | Communication Services | $1.97B | $639.18M |
| 80 | MSGE | Madison Square Garden Entertainment Corp. | Communication Services | $1.94B | $3.63B |
| 81 | SHEN | Shenandoah Telecommunications Company | Communication Services | $1.91B | $561.40M |
| 82 | LLYVA | Liberty Live Holdings, Inc. | Communication Services | $1.89B | $8.83B |
| 83 | TDAY | USA TODAY Co., Inc. | Communication Services | $1.84B | $986.62M |
| 84 | SCHL | Scholastic Corporation | Communication Services | $1.73B | $713.55M |
| 85 | BATRA | Atlanta Braves Holdings, Inc. | Communication Services | $1.61B | $3.48B |
| 86 | TBLA | Taboola.com Ltd. | Communication Services | $1.61B | $913.13M |
| 87 | WBTN | WEBTOON Entertainment Inc. | Communication Services | $1.60B | $1.24B |
| 88 | MSGS | Madison Square Garden Sports Corp. | Communication Services | $1.54B | $9.26B |
| 89 | BMBL | Bumble Inc. | Communication Services | $1.43B | $797.75M |
| 90 | DV | DoubleVerify Holdings, Inc. | Communication Services | $1.35B | $2.12B |
| 91 | UPWK | Upwork Inc. | Communication Services | $1.30B | $1.19B |
| 92 | OPRA | Opera Limited | Communication Services | $1.14B | $1.57B |
| 93 | GENI | Genius Sports Limited | Communication Services | $1.13B | $1.74B |
| 94 | CARS | Cars.com Inc. | Communication Services | $1.06B | $576.55M |
| 95 | DDI | DoubleDown Interactive Co., Ltd. | Communication Services | $1.04B | $674.92M |
| 96 | MCS | The Marcus Corporation | Communication Services | $1.01B | $859.29M |
| 97 | YELP | Yelp Inc. | Communication Services | $958.48M | $1.05B |
| 98 | HUYA | HUYA Inc. | Communication Services | $958.28M | $506.97M |
| 99 | SIFY | Sify Technologies Limited | Communication Services | $958.00M | $838.79M |
| 100 | RSVR | Reservoir Media, Inc. | Communication Services | $949.68M | $630.30M |
No companies match this search.
Total assets measure balance-sheet size, not worth: a bank holding customer deposits carries assets many times its market value, while a software company of the same market value carries a fraction of them. Above 150 times market cap the accounts are not in US dollars, and the company is left out.
How this ranking is built
Companies are ranked by total assets as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why are telecom balance sheets among the largest outside financial companies?
Building a network means owning it. Fiber routes, towers, exchanges and the spectrum licenses that make wireless service possible are all capitalized and depreciated over decades, and keeping them current absorbs capital every year. The result is a base measured against a comparatively modest revenue line, funded in part with long-dated debt. Capital intensity, not scale of customer demand, is what puts these companies near the top of the ranking.
How is content treated in a media company's total assets?
Produced and licensed content is capitalized and then amortized as it is watched, on schedules the company estimates. A large content balance therefore reflects past production spending and the amortization policy applied to it, not the audience a title still commands. When a series underperforms, the carrying value is written down rather than depreciated away smoothly. That makes content-heavy totals lumpy and harder to compare with a network operator's plant.