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
Verizon	$328B	2.4x	6.5x
T-Mobile US	$323B	3.7x	9.5x
AT&T	$305B	2.4x	6.6x
Deutsche Telekom	$302B	2.2x	5.5x
SoftBank Group	$224B	4.7x	5.6x
China Mobile	$192B	1.3x	3.9x
NTT Group	$151B	1.7x	7.0x
Bharti Airtel	$149B	6.8x	12.0x
Charter Communications	$121B	2.2x	5.4x
SoftBank	$93.7B	2.2x	8.2x
KDDI	$88.9B	2.3x	7.5x
Vodafone	$75.7B	1.6x	5.7x
China Telecom	$65.7B	0.9x	3.2x
Singtel	$63.9B	5.7x	20.8x
stc Group	$58.2B	2.8x	8.7x
e&	$56.6B	2.9x	6.5x
BCE	$54.2B	3.1x	7.1x
BT Group	$53.4B	2.0x	4.9x
Telstra	$47.0B	3.0x	8.0x
Swisscom	$42.8B	2.3x	5.3x
Orange	$41.7B	0.9x	2.8x
TELUS	$40.8B	2.7x	7.7x
Advanced Info Service	$39.1B	5.5x	10.3x
Chunghwa Telecom	$32.6B	4.4x	11.6x
TIM	$26.9B	1.7x	5.4x
China Unicom	$26.4B	0.5x	1.9x
KPN	$25.0B	3.7x	7.8x
Telia	$24.9B	2.8x	7.2x
Lumen	$24.1B	1.9x	7.4x
Telkom Indonesia	$23.7B	2.7x	5.5x
Airtel Africa	$22.8B	3.9x	8.0x
Telefónica	$22.7B	0.5x	1.6x
Telefônica Brasil	$22.4B	2.0x	4.9x
MTN Group	$22.0B	1.6x	3.7x
Telenor	$21.7B	2.7x	6.1x
Frontier Comms Parent Inc	$21.3B	3.5x	8.9x
China Satellite	$21.0B	n/a	n/a
Vodacom	$20.2B	2.0x	5.5x
China United Network	$20.0B	0.4x	1.4x
Moratelindo	$19.6B	n/a	n/a
Tigo	$16.7B	2.9x	6.3x
HKT Trust and HKT	$16.7B	3.7x	9.2x
Mobily	$16.0B	3.1x	8.0x
SK Telecom	$15.0B	1.3x	4.6x
Tele2	$14.6B	4.5x	10.3x
Taiwan Mobile	$13.2B	2.0x	9.6x
Maroc Telecom	$13.1B	3.2x	6.3x
Ooredoo Qatar	$13.1B	1.9x	4.4x
CelcomDigi	$12.9B	4.1x	9.1x
PCCW	$12.6B	2.6x	7.2x
TIM Brasil	$12.6B	2.6x	5.1x
KT	$12.5B	0.7x	2.9x
Zain Group	$12.5B	1.7x	5.0x
Far EasTone Telecom Co	$11.9B	3.5x	10.0x
Viasat	$11.5B	2.5x	7.3x
PLDT	$10.7B	2.9x	5.7x
Sunrise Communications	$10.6B	2.9x	7.3x
Safaricom	$10.4B	3.2x	6.5x
Zegona Communications	$10.3B	2.6x	5.1x
MTN Nigeria	$10.3B	2.8x	5.5x
Globe Telecom	$9.9B	3.3x	6.7x
Bharti Hexacom	$9.6B	9.4x	17.9x
Maxis	$9.5B	3.6x	9.1x
Omantel	$9.4B	1.1x	3.2x
TPG Telecom	$9.2B	2.7x	8.2x
A1 Telekom Austria Group	$9.1B	1.4x	3.8x
United Internet	$9.0B	1.2x	5.8x
Bezeq Group	$8.6B	3.1x	7.2x
Elisa	$8.4B	3.2x	9.0x
OTE	$8.4B	2.1x	5.1x
LG U+	$8.1B	0.8x	3.3x
Liberty Broadband	$8.0B	15.2x	50.2x
Globalstar	$7.9B	29.1x	60.4x
Telekom Malaysia	$7.8B	2.6x	6.8x
PT XLSmart Telecom	$7.6B	3.1x	6.9x
Proximus	$7.3B	1.0x	3.2x
VEON	$7.2B	1.7x	3.7x
TDS	$6.6B	2.8x	7.9x
Tata Communications	$6.5B	2.4x	12.0x
Türk Telekom	$6.4B	1.2x	3.0x
Turkcell	$6.3B	1.2x	2.7x
Orange Polska	$5.8B	1.6x	5.3x
1&1	$5.5B	1.2x	9.2x
Cogeco Communications	$5.4B	2.6x	5.3x
Magyar Telekom	$5.4B	1.8x	4.3x
Zain Saudi Arabia	$5.1B	1.8x	5.6x
Telecom Egypt	$4.4B	2.0x	4.7x
Chorus	$4.2B	7.1x	10.2x
Sinnet Technology	$4.2B	3.9x	21.1x
Megacable	$4.1B	2.0x	4.5x
Entel	$3.9B	1.2x	4.2x
Orange Belgium	$3.9B	1.5x	6.1x
Cogeco	$3.9B	1.8x	3.8x
Iridium	$3.8B	4.3x	7.6x
Cogent Communications	$3.7B	3.7x	12.5x
Hrvatski Telekom	$3.6B	2.7x	6.6x
Axtel	$3.6B	5.2x	16.2x
Cable One	$3.6B	2.4x	4.5x
NetLink NBN	$3.6B	11.1x	15.5x
MTNL Delhi	$3.5B	n/a	n/a
Grameenphone	$3.5B	2.6x	4.1x
Vodafone Qatar	$3.2B	3.2x	7.5x
Almendral	$3.0B	n/a	n/a
Internet Initiative Japan	$2.9B	1.4x	7.5x
Beyon	$2.8B	n/a	n/a
GMO Internet group	$2.7B	1.5x	6.1x
Ooredoo	$2.7B	1.1x	2.7x
Tuas	$2.6B	20.5x	45.6x
Cellcom Israel	$2.6B	n/a	n/a
HKBN	$2.6B	1.8x	8.0x
Time Dotcom	$2.5B	5.5x	13.3x
Merit Interactive Co	$2.4B	n/a	n/a
Partner Communications Co.	$2.4B	n/a	n/a
Tele Columbus	$2.4B	n/a	n/a
MTN Ghana	$2.3B	1.0x	1.8x
Telkom South Africa	$2.3B	0.8x	3.2x
Converge ICT	$2.1B	2.8x	4.7x
stc Kuwait	$2.1B	1.9x	6.8x
Oi	$2.0B	n/a	n/a
Pakistan Telecom	$1.8B	n/a	n/a
Okinawa Cellular	$1.8B	3.2x	11.1x
Space42	$1.5B	n/a	n/a
Telia Lietuva	$1.5B	n/a	n/a
GMO internet	$1.5B	2.9x	n/a
CITIC Telecom International	$1.4B	n/a	n/a
Gogo Air	$1.4B	1.6x	6.5x
Dialog Axiata	$1.3B	n/a	n/a
Shentel	$1.2B	3.3x	9.9x
Telekom Slovenije	$1.1B	n/a	n/a
LINK Mobility Group	$1.1B	1.5x	12.8x
Jordan Telecom	$1.1B	n/a	n/a
Asian Pay Television	$1.0B	n/a	n/a
IDT	$1.0B	0.8x	7.5x
Aussie Broadband	$1.0B	1.2x	10.0x
ATN International	$954M	1.3x	5.3x
SLTMobitel	$825M	n/a	n/a
Nepal Telecom	$812M	n/a	n/a
Blu Label Unlimited Group	$796M	n/a	n/a
Superloop	$783M	1.9x	11.4x
Tucows	$756M	n/a	n/a
Sonaecom	$751M	n/a	n/a
Ovzon	$735M	9.7x	26.7x
Makedonski Telekom	$731M	n/a	n/a
Etihad GO Telecom	$726M	1.9x	8.3x
IndoInternet	$623M	n/a	n/a
Desktop Sigmanet	$619M	2.6x	5.1x
Ooredoo Oman	$599M	0.9x	2.8x
Telefónica Chile	$592M	n/a	n/a
Bahnhof	$547M	n/a	n/a
Balitower	$547M	n/a	n/a
GO plc	$529M	n/a	n/a
SmarTone	$520M	0.6x	n/a
Unifique Telecom	$434M	2.0x	4.1x
Jasmine International	$405M	4.9x	24.2x
Bredband2	$354M	1.7x	11.3x
Thaicom	$329M	4.8x	13.5x
Vision	$314M	1.3x	n/a
Ooredoo Palestine	$302M	n/a	n/a
Hutchison	$293M	n/a	n/a
FreeBit Co	$233M	0.6x	n/a
Intred	$223M	3.4x	7.6x
Bangladesh Submarine Cables	$188M	n/a	n/a
Unidata	$155M	1.3x	4.6x
Tessellis	$148M	n/a	n/a
Zain Bahrain	$144M	n/a	n/a
GTPL Hathway	$125M	n/a	n/a
KVH Industries	$73.3M	n/a	n/a
Broadmedia	$70.9M	0.7x	n/a
Ecotel	$55.0M	0.4x	4.2x
Hyundai Futurenet	$42.0M	n/a	n/a
MNC Vision Networks	$36.3M	n/a	n/a
ET Bogotá	$28.6M	n/a	n/a
uCloudlink	$25.8M	0.3x	6.5x
Hathway	-$42.1M	n/a	n/a
Telebras	-$63.6M	n/a	n/a
Den Networks	-$220M	n/a	n/a