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	$375B	4.4x	11.3x
Verizon	$351B	2.6x	7.0x
AT&T	$349B	2.8x	7.6x
Deutsche Telekom	$312B	2.3x	5.9x
SoftBank Group	$268B	5.3x	9.2x
China Mobile	$208B	1.4x	4.3x
NTT Group	$164B	1.7x	7.1x
Bharti Airtel	$150B	7.0x	12.6x
Charter Communications	$131B	2.4x	5.8x
SoftBank	$106B	2.3x	8.7x
KDDI	$91.3B	2.2x	7.3x
China Telecom	$78.1B	1.0x	3.9x
Vodafone	$72.0B	1.6x	5.6x
Singtel	$62.8B	5.7x	20.8x
stc Group	$55.9B	2.7x	8.4x
BT Group	$53.8B	2.0x	4.9x
e&	$53.0B	2.9x	6.6x
BCE	$51.0B	2.9x	6.6x
Telstra	$47.8B	3.1x	8.4x
TELUS	$45.4B	3.0x	8.4x
Swisscom	$42.3B	2.4x	6.1x
Orange	$39.0B	0.8x	2.6x
China Unicom	$35.4B	0.6x	2.5x
Advanced Info Service	$33.1B	4.8x	9.1x
Chunghwa Telecom	$33.0B	4.3x	11.4x
Telenor	$31.9B	4.0x	9.0x
Telefónica	$29.3B	0.7x	2.1x
KPN	$26.5B	3.9x	8.4x
Altice USA	$26.4B	3.0x	7.9x
TIM	$23.7B	1.4x	4.7x
Telia	$23.5B	2.6x	6.9x
Telkom Indonesia	$23.2B	2.6x	5.1x
China United Network	$22.6B	0.4x	1.7x
Lumen	$22.3B	1.8x	6.8x
Telefônica Brasil	$21.7B	2.0x	4.9x
Frontier Comms Parent Inc	$20.8B	3.4x	8.9x
MTN Group	$17.7B	1.5x	3.6x
Vodacom	$17.7B	1.9x	5.3x
Zegona Communications	$17.6B	4.3x	9.5x
HKT Trust and HKT	$17.0B	3.8x	9.4x
Airtel Africa	$16.4B	3.0x	6.3x
Tele2	$14.8B	4.7x	10.9x
Tigo	$14.6B	2.6x	5.7x
Mobily	$14.4B	2.8x	7.4x
SK Telecom	$14.4B	1.1x	4.0x
Maroc Telecom	$14.1B	3.5x	6.7x
CelcomDigi	$13.4B	4.4x	9.6x
Taiwan Mobile	$13.0B	2.0x	9.2x
KT	$13.0B	0.7x	3.0x
Zain Group	$12.9B	1.9x	5.3x
Ooredoo Qatar	$12.6B	1.9x	4.6x
PCCW	$12.5B	2.6x	7.3x
TIM Brasil	$12.1B	2.5x	5.0x
China Satellite	$11.9B	n/a	n/a
Liberty Broadband	$11.6B	11.0x	34.5x
Far EasTone Telecom Co	$11.4B	3.3x	9.5x
Sunrise Communications	$11.2B	3.0x	7.6x
Elisa	$10.5B	4.0x	11.1x
Bharti Hexacom	$10.4B	10.1x	19.8x
PLDT	$10.2B	2.6x	5.2x
Viasat	$10.2B	2.2x	6.5x
Safaricom	$10.2B	3.2x	6.7x
A1 Telekom Austria Group	$10.1B	1.6x	4.1x
Globe Telecom	$10.1B	3.2x	6.6x
TDS	$10.0B	2.8x	8.3x
TPG Telecom	$10.0B	2.9x	8.7x
United Internet	$9.4B	1.2x	6.1x
Omantel	$9.2B	1.1x	3.3x
Maxis	$8.8B	3.5x	8.9x
OTE	$8.4B	2.0x	5.1x
LG U+	$8.1B	0.7x	3.1x
MTN Nigeria	$7.8B	2.5x	5.3x
Proximus	$7.5B	1.0x	3.3x
Bezeq Group	$7.2B	2.8x	6.5x
VEON	$7.2B	1.7x	3.9x
Telekom Malaysia	$7.0B	2.5x	6.4x
Tata Communications	$6.7B	2.5x	12.2x
PT XLSmart Telecom	$6.5B	2.6x	5.5x
Turkcell	$6.2B	1.2x	2.8x
Türk Telekom	$5.8B	1.1x	2.9x
Magyar Telekom	$5.5B	1.9x	4.6x
Cogeco Communications	$5.3B	2.5x	5.1x
Orange Polska	$5.2B	1.4x	4.8x
Zain Saudi Arabia	$5.1B	1.8x	5.7x
1&1	$4.7B	1.0x	7.2x
Chorus	$4.3B	7.2x	10.3x
Cogent Communications	$4.3B	4.3x	13.6x
Globalstar	$4.3B	16.5x	31.4x
Cable One	$4.3B	2.8x	5.3x
Sinnet Technology	$4.3B	4.1x	21.5x
MTN Ghana	$4.2B	n/a	n/a
Megacable	$3.9B	2.1x	4.7x
Orange Belgium	$3.9B	1.7x	6.1x
Grameenphone	$3.9B	2.9x	4.9x
Cogeco	$3.8B	1.7x	3.6x
Hrvatski Telekom	$3.7B	n/a	n/a
Iridium	$3.7B	4.2x	7.5x
Entel	$3.5B	1.2x	4.2x
MTNL Delhi	$3.5B	n/a	n/a
NetLink NBN	$3.4B	10.7x	15.2x
Internet Initiative Japan	$3.4B	1.5x	8.8x
GMO Internet group	$3.2B	1.6x	6.7x
Telecom Egypt	$3.1B	1.6x	4.0x
Vodafone Qatar	$3.1B	3.3x	7.8x
B Communications	$3.0B	n/a	n/a
Axtel	$3.0B	4.7x	14.7x
Almendral	$2.9B	n/a	n/a
Beyon	$2.7B	n/a	n/a
Tuas	$2.6B	21.9x	49.2x
GMO internet	$2.4B	5.9x	n/a
Tele Columbus	$2.3B	4.7x	11.0x
HKBN	$2.3B	n/a	n/a
Merit Interactive Co	$2.3B	n/a	n/a
Cellcom Israel	$2.2B	1.7x	n/a
Time Dotcom	$2.1B	5.1x	12.5x
Gogo Air	$2.1B	2.7x	10.4x
Oi	$2.0B	n/a	n/a
Ooredoo	$2.0B	0.8x	2.3x
Space42	$2.0B	n/a	n/a
Partner Communications Co.	$2.0B	2.0x	n/a
Telkom South Africa	$1.9B	0.7x	2.8x
Converge ICT	$1.8B	2.4x	4.0x
stc Kuwait	$1.8B	1.5x	6.1x
Okinawa Cellular	$1.6B	2.8x	9.7x
WideOpenWest	$1.5B	2.5x	5.2x
CITIC Telecom International	$1.5B	1.2x	5.9x
IDT	$1.5B	1.2x	11.0x
Telia Lietuva	$1.3B	n/a	n/a
Shentel	$1.3B	3.6x	11.5x
Telekom Slovenije	$1.2B	n/a	n/a
Aussie Broadband	$1.1B	1.4x	11.9x
Pakistan Telecom	$1.1B	n/a	n/a
Dialog Axiata	$1.0B	1.7x	n/a
Asian Pay Television	$1.0B	n/a	n/a
Superloop	$1.0B	2.7x	15.9x
LINK Mobility Group	$1.0B	1.4x	11.9x
Jordan Telecom	$1.0B	n/a	n/a
Blu Label Unlimited Group	$940M	n/a	n/a
Moratelindo	$874M	n/a	n/a
ATN International	$853M	1.2x	4.7x
Etihad Atheeb Telecom	$832M	2.1x	9.3x
Sonaecom	$809M	n/a	n/a
Nepal Telecom	$799M	n/a	n/a
Makedonski Telekom	$693M	n/a	n/a
Tucows	$676M	1.9x	n/a
Bahnhof	$649M	2.8x	17.4x
SLTMobitel	$640M	n/a	n/a
IndoInternet	$591M	n/a	n/a
GO plc	$555M	n/a	n/a
SmarTone	$527M	0.7x	n/a
Balitower	$509M	n/a	n/a
Ooredoo Oman	$506M	0.8x	2.1x
Ovzon	$482M	7.4x	22.7x
Jasmine International	$431M	n/a	n/a
Telefónica Chile	$400M	n/a	n/a
Desktop Sigmanet	$398M	1.8x	3.5x
Unifique Telecom	$367M	1.8x	3.8x
Bredband2	$347M	1.8x	10.9x
Vision	$329M	1.3x	n/a
Thaicom	$316M	4.3x	12.5x
Hutchison	$269M	0.4x	n/a
FreeBit Co	$258M	0.7x	n/a
Intred	$218M	3.3x	7.4x
Bangladesh Submarine Cables	$213M	n/a	9.3x
GTPL Hathway	$180M	n/a	n/a
Tessellis	$172M	n/a	n/a
Zain Bahrain	$151M	n/a	n/a
Ooredoo Palestine	$151M	n/a	n/a
Unidata	$140M	1.1x	4.2x
Hathway	$75.8M	n/a	n/a
uCloudlink	$67.6M	0.8x	12.1x
KVH Industries	$66.4M	0.6x	7.4x
Ecotel	$64.2M	0.5x	5.0x
Broadmedia	$58.5M	0.5x	n/a
Hyundai Futurenet	$39.2M	n/a	n/a
ET Bogotá	$26.3M	n/a	n/a
MNC Vision Networks	$2.5M	n/a	n/a
Telebras	-$38.8M	n/a	n/a
Den Networks	-$136M	n/a	n/a