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/LTM Revenue	EV/LTM EBITDA
T-Mobile US	$390B	4.6x	11.9x
Verizon	$352B	2.6x	7.1x
AT&T	$344B	2.8x	7.5x
Deutsche Telekom	$320B	2.4x	6.1x
SoftBank Group	$239B	4.8x	8.0x
China Mobile	$215B	1.5x	4.5x
NTT Group	$160B	1.7x	7.0x
Bharti Airtel	$149B	6.9x	12.6x
Charter Communications	$132B	2.4x	5.8x
SoftBank	$106B	2.4x	8.8x
KDDI	$92.2B	2.3x	7.4x
China Telecom	$85.5B	1.2x	4.3x
Vodafone	$72.5B	1.6x	5.7x
Singtel	$62.5B	5.7x	20.9x
stc Group	$56.1B	2.7x	8.4x
BT Group	$55.4B	2.0x	5.0x
e&	$53.7B	3.0x	6.8x
BCE	$52.2B	3.0x	6.8x
Telstra	$47.3B	3.1x	8.5x
TELUS	$46.1B	3.1x	8.6x
Swisscom	$42.3B	2.5x	6.2x
Orange	$40.3B	0.9x	2.7x
China Unicom	$36.4B	0.7x	2.6x
Chunghwa Telecom	$32.9B	4.3x	11.4x
Advanced Info Service	$32.0B	4.8x	9.0x
Telenor	$31.5B	4.0x	9.0x
Telefónica	$29.5B	0.7x	2.1x
Altice USA	$26.4B	3.0x	7.9x
KPN	$25.7B	3.8x	8.3x
TIM	$23.9B	1.5x	4.7x
China United Network	$23.2B	0.4x	1.8x
Telia	$22.9B	2.6x	6.9x
Telkom Indonesia	$22.8B	2.5x	5.0x
Telefônica Brasil	$22.5B	2.1x	5.1x
Lumen	$21.4B	1.7x	6.5x
Frontier Comms Parent Inc	$20.7B	3.4x	8.9x
Vodacom	$18.6B	2.1x	5.6x
MTN Group	$18.2B	1.5x	3.9x
Zegona Communications	$17.2B	4.3x	9.6x
HKT Trust and HKT	$16.9B	3.7x	9.4x
Airtel Africa	$16.1B	3.0x	6.3x
Mobily	$15.1B	3.0x	7.8x
Tele2	$15.0B	4.8x	11.2x
Tigo	$14.7B	2.6x	5.8x
KT	$14.4B	0.7x	3.5x
Maroc Telecom	$14.4B	3.6x	6.8x
SK Telecom	$14.2B	1.1x	3.9x
Taiwan Mobile	$13.1B	2.0x	9.3x
CelcomDigi	$13.1B	4.3x	9.5x
Zain Group	$12.8B	1.9x	5.3x
China Satellite	$12.7B	n/a	n/a
PCCW	$12.5B	2.6x	7.3x
Ooredoo Qatar	$12.2B	1.9x	4.5x
TIM Brasil	$12.1B	2.5x	5.0x
Liberty Broadband	$11.7B	11.2x	35.2x
Far EasTone Telecom Co	$11.4B	3.3x	9.4x
Sunrise Communications	$11.2B	3.0x	7.8x
Bharti Hexacom	$11.1B	10.7x	21.2x
PLDT	$10.5B	2.7x	5.4x
TPG Telecom	$10.3B	3.0x	8.8x
Globe Telecom	$10.2B	3.2x	6.7x
Elisa	$10.2B	3.9x	11.0x
TDS	$10.1B	2.4x	8.3x
A1 Telekom Austria Group	$10.1B	1.6x	4.1x
Viasat	$10.0B	2.2x	6.5x
Safaricom	$9.9B	3.1x	6.6x
United Internet	$9.1B	1.2x	5.9x
Omantel	$9.1B	1.1x	3.3x
Maxis	$8.6B	3.4x	8.7x
LG U+	$8.2B	0.8x	3.2x
OTE	$8.0B	1.9x	4.9x
MTN Nigeria	$7.8B	2.6x	5.4x
Proximus	$7.5B	1.0x	3.4x
VEON	$7.5B	1.8x	4.0x
Telekom Malaysia	$7.2B	2.5x	6.6x
Bezeq Group	$7.0B	2.8x	6.4x
Türk Telekom	$6.6B	1.3x	3.4x
Turkcell	$6.4B	1.3x	3.0x
Tata Communications	$6.3B	2.3x	11.6x
PT XLSmart Telecom	$5.9B	2.3x	4.8x
Magyar Telekom	$5.6B	1.9x	4.9x
Orange Polska	$5.2B	1.5x	5.0x
Cogeco Communications	$5.2B	2.5x	5.0x
Zain Saudi Arabia	$5.1B	1.8x	5.7x
Sinnet Technology	$4.6B	4.4x	23.3x
MTN Ghana	$4.6B	n/a	n/a
1&1	$4.5B	0.9x	6.8x
Iridium	$4.3B	5.1x	9.0x
Chorus	$4.3B	7.3x	10.5x
Cogent Communications	$4.3B	4.3x	13.4x
Cable One	$4.2B	2.7x	5.2x
Orange Belgium	$3.9B	1.7x	6.2x
Grameenphone	$3.8B	2.9x	4.9x
Cogeco	$3.8B	1.7x	3.6x
Globalstar	$3.8B	14.5x	27.6x
Megacable	$3.7B	2.0x	4.4x
Hrvatski Telekom	$3.6B	n/a	n/a
MTNL Delhi	$3.5B	n/a	n/a
Entel	$3.5B	1.2x	4.1x
Internet Initiative Japan	$3.3B	1.5x	9.0x
NetLink NBN	$3.3B	10.4x	14.7x
GMO Internet group	$3.2B	1.6x	6.8x
Telecom Egypt	$3.1B	1.6x	4.1x
Vodafone Qatar	$3.0B	3.3x	7.8x
B Communications	$2.9B	n/a	n/a
Almendral	$2.8B	n/a	n/a
Beyon	$2.7B	n/a	n/a
Axtel	$2.6B	4.1x	13.2x
Merit Interactive Co	$2.6B	n/a	n/a
Tuas	$2.6B	22.5x	50.5x
GMO internet	$2.6B	6.7x	n/a
Gogo Air	$2.3B	3.1x	11.9x
HKBN	$2.3B	1.7x	7.5x
Tele Columbus	$2.2B	4.4x	10.4x
Cellcom Israel	$2.2B	1.7x	n/a
Time Dotcom	$2.1B	5.2x	12.6x
Converge ICT	$2.1B	2.8x	4.7x
Space42	$2.1B	n/a	n/a
Oi	$2.0B	n/a	n/a
Ooredoo	$2.0B	0.8x	2.3x
Partner Communications Co.	$2.0B	2.0x	n/a
Telkom South Africa	$1.8B	0.7x	2.8x
stc Kuwait	$1.8B	1.5x	6.1x
Okinawa Cellular	$1.6B	2.8x	9.6x
CITIC Telecom International	$1.5B	1.2x	6.0x
WideOpenWest	$1.5B	2.5x	5.2x
IDT	$1.4B	1.1x	10.4x
Telia Lietuva	$1.3B	n/a	n/a
Shentel	$1.2B	3.5x	11.3x
Telekom Slovenije	$1.2B	n/a	n/a
Aussie Broadband	$1.1B	1.4x	11.8x
Pakistan Telecom	$1.1B	n/a	n/a
Blue Label Telecoms	$1.0B	n/a	n/a
Asian Pay Television	$1.0B	n/a	n/a
Dialog Axiata	$991M	1.6x	n/a
LINK Mobility Group	$990M	1.4x	12.1x
Jordan Telecom	$987M	n/a	n/a
Superloop	$943M	2.6x	15.4x
Sonaecom	$867M	n/a	n/a
ATN International	$865M	1.2x	4.8x
Nepal Telecom	$842M	n/a	n/a
Moratelindo	$835M	n/a	n/a
Etihad Atheeb Telecom	$804M	2.0x	9.0x
Makedonski Telekom	$682M	n/a	n/a
Tucows	$678M	1.9x	n/a
Bahnhof	$671M	3.0x	18.5x
SLTMobitel	$629M	n/a	n/a
IndoInternet	$600M	n/a	n/a
SmarTone	$573M	n/a	n/a
Balitower	$545M	n/a	n/a
GO plc	$544M	n/a	n/a
Ooredoo Oman	$518M	0.8x	2.1x
Ovzon	$493M	8.1x	25.9x
Jasmine International	$438M	n/a	n/a
Telefónica Chile	$398M	n/a	n/a
Desktop Sigmanet	$392M	1.8x	3.5x
Vision	$343M	1.3x	n/a
Unifique Telecom	$339M	1.7x	3.5x
Bredband2	$336M	1.8x	10.9x
Thaicom	$279M	3.9x	11.3x
Hutchison	$256M	0.4x	n/a
FreeBit Co	$244M	0.6x	n/a
Bangladesh Submarine Cables	$224M	n/a	9.8x
Intred	$218M	3.3x	7.5x
Tessellis	$176M	n/a	n/a
GTPL Hathway	$170M	n/a	n/a
Ooredoo Palestine	$168M	n/a	n/a
Unidata	$152M	1.2x	4.5x
Zain Bahrain	$151M	n/a	n/a
uCloudlink	$104M	1.2x	18.1x
Ecotel	$64.5M	0.5x	5.1x
Broadmedia	$60.3M	0.6x	n/a
KVH Industries	$57.2M	0.5x	6.4x
Hathway	$51.3M	n/a	n/a
Hyundai Futurenet	$43.9M	n/a	n/a
ET Bogotá	$25.8M	n/a	n/a
MNC Vision Networks	-$15.6M	n/a	n/a
Telebras	-$55.4M	n/a	n/a
Den Networks	-$141M	n/a	n/a