Internet Service Providers Valuation Multiples and Public Comps

Internet Service Providers

See analyst estimates and all valuation multiples for Internet Service Providers

Company	EV	EV/Revenue	EV/EBITDA
T-Mobile US	$381B	4.6x	11.7x
Verizon	$348B	2.6x	7.1x
AT&T	$334B	2.7x	7.4x
Deutsche Telekom	$326B	2.5x	6.5x
China Mobile	$208B	1.4x	4.4x
SoftBank Group	$172B	3.4x	4.8x
NTT Group	$152B	1.6x	6.4x
Bharti Airtel	$151B	7.2x	13.2x
Charter Communications	$149B	2.7x	6.6x
SoftBank	$102B	2.3x	8.4x
China Telecom	$91.5B	1.2x	4.7x
KDDI	$89.5B	2.2x	7.2x
Vodafone	$64.8B	1.5x	5.2x
Singtel	$56.0B	5.1x	19.0x
stc Group	$54.8B	2.6x	8.3x
BT Group	$50.5B	1.8x	4.6x
BCE	$49.8B	2.8x	6.5x
e&	$48.6B	2.8x	6.4x
Telstra	$46.0B	3.0x	8.5x
TELUS	$45.4B	3.1x	8.5x
Swisscom	$38.7B	2.5x	6.4x
Orange	$33.8B	0.7x	2.4x
China Unicom	$33.7B	0.6x	2.4x
Chunghwa Telecom	$32.8B	4.2x	11.3x
Advanced Info Service	$31.3B	4.7x	9.0x
Telenor	$28.9B	3.7x	8.4x
Telefónica	$27.0B	0.6x	2.0x
Altice USA	$26.4B	3.0x	7.8x
KPN	$25.1B	3.9x	8.6x
Telia	$23.3B	2.6x	7.1x
China United Network	$21.8B	0.4x	1.7x
TIM	$20.9B	1.3x	4.2x
Frontier Comms Parent Inc	$20.3B	3.4x	8.8x
Lumen	$20.0B	1.6x	5.9x
Telkom Indonesia	$19.2B	2.1x	4.1x
Telefônica Brasil	$18.1B	1.8x	4.4x
Vodacom	$17.7B	2.1x	5.6x
Liberty Broadband	$17.1B	16.6x	55.7x
HKT Trust and HKT	$16.3B	3.6x	9.2x
MTN Group	$16.0B	1.5x	3.9x
KT	$14.9B	0.8x	3.8x
Taiwan Mobile	$14.3B	2.1x	10.1x
Mobily	$14.2B	2.8x	7.3x
SK Telecom	$14.1B	1.1x	3.5x
Airtel Africa	$13.9B	2.7x	5.8x
CelcomDigi	$13.7B	4.5x	9.9x
Maroc Telecom	$13.3B	3.2x	6.2x
Tele2	$13.1B	4.3x	10.3x
Tigo	$12.7B	2.2x	5.0x
Zegona Communications	$12.4B	2.9x	7.1x
Ooredoo Qatar	$12.2B	1.8x	4.3x
Zain Group	$12.0B	1.8x	5.1x
Far EasTone Telecom Co	$12.0B	3.4x	9.8x
PCCW	$11.7B	2.4x	6.9x
Bharti Hexacom	$11.2B	10.9x	21.8x
Globe Telecom	$10.9B	3.3x	6.9x
PLDT	$10.7B	2.7x	5.4x
China Satellite	$10.7B	n/a	n/a
Sunrise Communications	$10.4B	2.9x	7.3x
TPG Telecom	$10.2B	2.9x	8.0x
TIM Brasil	$10.1B	2.2x	4.4x
Elisa	$10.0B	4.0x	11.3x
TDS	$9.7B	2.0x	7.8x
A1 Telekom Austria Group	$9.4B	1.5x	4.1x
UScellular	$8.9B	2.4x	9.1x
Maxis	$8.7B	3.5x	8.9x
OTE	$8.6B	2.1x	5.5x
Omantel	$8.6B	1.1x	3.1x
LG U+	$7.9B	0.7x	3.0x
United Internet	$7.5B	1.0x	5.1x
Proximus	$7.5B	1.0x	3.5x
Safaricom	$7.5B	2.4x	5.3x
Viasat	$7.1B	1.6x	4.6x
Tata Communications	$6.9B	2.5x	12.5x
Türk Telekom	$6.7B	1.4x	3.6x
Telekom Malaysia	$6.6B	2.4x	6.1x
VEON	$6.4B	1.6x	3.7x
Turkcell	$6.3B	1.3x	3.0x
Bezeq Group	$6.2B	2.7x	5.9x
Cogeco Communications	$5.6B	2.6x	5.4x
MTN Nigeria	$5.5B	2.2x	5.2x
Orange Polska	$5.3B	1.5x	5.3x
Zain Saudi Arabia	$5.2B	1.8x	5.8x
PT XLSmart Telecom	$5.1B	2.4x	4.6x
Magyar Telekom	$4.8B	1.7x	4.5x
Cogent Communications	$4.6B	4.4x	13.3x
Iridium	$4.5B	5.3x	9.4x
Cable One	$4.2B	2.7x	5.1x
Cogeco	$4.1B	1.9x	3.9x
1&1	$4.1B	0.9x	6.2x
Sinnet Technology	$3.8B	3.6x	18.6x
MTNL Delhi	$3.6B	n/a	n/a
Orange Belgium	$3.6B	1.6x	5.8x
Hrvatski Telekom	$3.5B	n/a	n/a
Grameenphone	$3.4B	2.6x	4.5x
Entel	$3.4B	1.1x	4.0x
Megacable	$3.4B	1.9x	4.3x
Internet Initiative Japan	$3.4B	1.5x	9.2x
GMO Internet group	$3.2B	1.6x	6.9x
NetLink NBN	$3.2B	10.1x	14.2x
Vodafone Qatar	$3.0B	3.3x	7.7x
Almendral	$2.9B	n/a	n/a
Converge ICT	$2.8B	3.7x	6.1x
B Communications	$2.8B	n/a	n/a
Beyon	$2.7B	n/a	n/a
Axtel	$2.7B	4.5x	14.4x
Telecom Egypt	$2.7B	1.6x	3.9x
Globalstar	$2.7B	10.5x	19.7x
Gogo Air	$2.3B	3.8x	13.5x
HKBN	$2.2B	1.7x	7.4x
Time Dotcom	$2.2B	5.4x	13.1x
Tele Columbus	$2.0B	4.2x	10.0x
Merit Interactive Co	$1.9B	n/a	n/a
Telkom South Africa	$1.9B	0.8x	3.1x
Cellcom Israel	$1.8B	1.4x	n/a
Space42	$1.8B	n/a	n/a
Oi	$1.8B	n/a	n/a
Ooredoo	$1.7B	0.7x	1.9x
Tuas	$1.7B	15.1x	34.1x
stc Kuwait	$1.6B	1.4x	5.7x
Partner Communications Co.	$1.6B	1.7x	n/a
Okinawa Cellular	$1.5B	2.6x	8.9x
IDT	$1.4B	1.1x	n/a
CITIC Telecom International	$1.4B	1.1x	5.4x
WideOpenWest	$1.4B	2.3x	4.9x
MTN Ghana	$1.2B	n/a	n/a
Telia Lietuva	$1.2B	n/a	n/a
Shentel	$1.1B	3.3x	10.7x
Pakistan Telecom	$1.1B	n/a	n/a
Telekom Slovenije	$1.1B	n/a	n/a
Jordan Telecom	$995M	n/a	n/a
Asian Pay Television	$955M	n/a	n/a
Nepal Telecom	$925M	n/a	n/a
Telefónica Perú	$913M	n/a	n/a
Superloop	$888M	2.6x	16.4x
Moratelindo	$846M	n/a	n/a
Dialog Axiata	$840M	1.4x	n/a
Aussie Broadband	$840M	1.1x	9.6x
ATN International	$832M	1.1x	4.6x
Blue Label Telecoms	$795M	n/a	n/a
LINK Mobility Group	$792M	1.1x	10.6x
Etihad Atheeb Telecom	$765M	2.2x	10.9x
Tucows	$694M	1.9x	n/a
Makedonski Telekom	$673M	n/a	n/a
SLTMobitel	$653M	n/a	n/a
Sonaecom	$632M	n/a	n/a
Bahnhof	$584M	2.7x	16.8x
IndoInternet	$549M	n/a	n/a
SmarTone	$531M	0.7x	1.7x
GO plc	$522M	n/a	n/a
Balitower	$491M	n/a	n/a
Ooredoo Oman	$453M	0.7x	1.9x
Telefónica Chile	$436M	n/a	n/a
Jasmine International	$430M	n/a	n/a
Desktop Sigmanet	$397M	1.9x	3.7x
Ovzon	$361M	9.0x	44.9x
Vision	$330M	1.3x	n/a
Unifique Telecom	$292M	1.6x	3.3x
Bredband2	$244M	1.3x	8.2x
Thaicom	$238M	3.2x	10.0x
Hutchison Telecom	$231M	n/a	n/a
Intred	$220M	3.4x	7.8x
Hutchison	$180M	0.3x	n/a
FreeBit	$176M	0.5x	3.8x
GTPL Hathway	$168M	n/a	n/a
Bangladesh Submarine Cables	$165M	n/a	n/a
Zain Bahrain	$155M	n/a	n/a
Unidata	$147M	1.2x	4.6x
Tessellis	$147M	n/a	n/a
Ooredoo Palestine	$140M	n/a	n/a
Hathway	$70.5M	n/a	n/a
Ecotel	$60.3M	0.5x	5.2x
KVH Industries	$59.1M	0.5x	6.9x
Broadmedia	$55.3M	0.5x	n/a
Hyundai Futurenet	$52.0M	n/a	n/a
uCloudlink	$37.9M	0.4x	6.1x
ET Bogotá	$31.3M	n/a	n/a
Telebras	-$22.6M	n/a	n/a
MNC Vision Networks	-$43.0M	n/a	n/a
Den Networks	-$174M	n/a	n/a