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	$353B	4.1x	10.5x
SoftBank Group	$339B	6.9x	10.2x
Verizon	$327B	2.4x	6.5x
AT&T	$314B	2.5x	6.8x
Deutsche Telekom	$303B	2.2x	5.6x
China Mobile	$212B	1.4x	4.4x
Bharti Airtel	$158B	7.2x	13.0x
NTT Group	$158B	1.7x	7.0x
Charter Communications	$127B	2.3x	5.6x
SoftBank	$99.5B	2.2x	8.4x
KDDI	$87.6B	2.2x	7.1x
China Telecom	$76.9B	1.0x	3.8x
Vodafone	$73.6B	1.6x	5.6x
Singtel	$61.5B	5.6x	20.4x
stc Group	$60.0B	2.9x	9.1x
e&	$57.8B	3.1x	7.0x
BT Group	$51.5B	1.9x	4.7x
BCE	$50.4B	2.9x	6.7x
Telstra	$46.8B	3.0x	8.3x
TELUS	$43.4B	2.9x	8.2x
Swisscom	$43.1B	2.4x	5.7x
Orange	$38.9B	0.8x	2.6x
Advanced Info Service	$33.4B	4.9x	9.3x
China Unicom	$33.3B	0.6x	2.4x
Chunghwa Telecom	$32.3B	4.2x	11.2x
Telenor	$29.8B	3.7x	8.3x
Telefónica	$28.6B	0.7x	2.0x
Lumen	$27.2B	2.2x	8.2x
Altice USA	$26.3B	3.0x	7.9x
KPN	$25.7B	3.8x	8.1x
TIM	$25.0B	1.5x	5.0x
Telia	$23.1B	2.6x	6.8x
Telkom Indonesia	$22.5B	2.5x	5.0x
Telefônica Brasil	$22.3B	2.1x	5.0x
China United Network	$21.2B	0.4x	1.6x
Frontier Comms Parent Inc	$21.1B	3.5x	8.9x
MTN Group	$20.1B	1.6x	3.7x
Airtel Africa	$18.6B	3.3x	6.8x
Vodacom	$18.4B	2.0x	5.4x
Zegona Communications	$18.3B	4.7x	9.3x
HKT Trust and HKT	$16.7B	3.7x	9.2x
Mobily	$15.7B	3.1x	8.0x
Tigo	$14.5B	2.6x	5.6x
Maroc Telecom	$14.3B	3.5x	6.7x
Tele2	$14.0B	4.4x	10.2x
SK Telecom	$13.6B	1.1x	4.0x
Taiwan Mobile	$13.4B	2.0x	9.6x
TIM Brasil	$13.1B	2.7x	5.3x
CelcomDigi	$13.0B	4.3x	9.4x
Zain Group	$12.9B	1.8x	5.3x
Ooredoo Qatar	$12.8B	1.9x	4.5x
PCCW	$12.8B	2.6x	7.3x
China Satellite	$12.5B	n/a	n/a
KT	$12.4B	0.6x	2.9x
Far EasTone Telecom Co	$12.2B	3.5x	10.2x
Bharti Hexacom	$11.2B	10.7x	20.8x
Viasat	$11.1B	2.4x	7.1x
Sunrise Communications	$10.9B	2.9x	7.5x
TPG Telecom	$10.7B	3.2x	9.5x
Liberty Broadband	$10.6B	10.4x	33.8x
Safaricom	$10.2B	3.2x	6.6x
TDS	$10.1B	3.0x	8.4x
PLDT	$10.0B	2.6x	5.2x
Globe Telecom	$9.8B	3.2x	6.5x
A1 Telekom Austria Group	$9.6B	1.5x	3.9x
United Internet	$9.5B	1.3x	6.2x
MTN Nigeria	$9.3B	2.8x	5.8x
Omantel	$9.2B	1.1x	3.3x
Maxis	$9.1B	3.6x	9.1x
Elisa	$8.8B	3.3x	9.4x
OTE	$8.2B	2.0x	5.0x
LG U+	$7.9B	0.7x	3.1x
Bezeq Group	$7.7B	2.9x	6.8x
Tata Communications	$7.6B	2.8x	13.9x
Proximus	$7.6B	1.0x	3.3x
Telekom Malaysia	$7.2B	2.5x	6.6x
VEON	$6.9B	1.6x	3.7x
Globalstar	$6.7B	25.4x	52.4x
PT XLSmart Telecom	$6.3B	2.6x	5.5x
Turkcell	$6.2B	1.2x	2.8x
Türk Telekom	$5.6B	1.1x	2.7x
Zain Saudi Arabia	$5.3B	1.8x	5.9x
Magyar Telekom	$5.3B	1.8x	4.3x
Orange Polska	$5.2B	1.5x	4.8x
MTN Ghana	$5.1B	n/a	n/a
Cogeco Communications	$5.0B	2.4x	4.9x
1&1	$4.9B	1.0x	7.7x
Cogent Communications	$4.4B	4.4x	14.2x
Chorus	$4.1B	7.1x	10.2x
Cable One	$4.1B	2.7x	5.1x
MTNL Delhi	$4.0B	n/a	n/a
Orange Belgium	$3.9B	1.7x	6.2x
Entel	$3.9B	1.3x	4.6x
Sinnet Technology	$3.9B	3.7x	19.1x
Megacable	$3.7B	2.0x	4.3x
Hrvatski Telekom	$3.7B	n/a	n/a
Cogeco	$3.7B	1.7x	3.6x
Grameenphone	$3.6B	2.7x	4.5x
Iridium	$3.6B	4.1x	7.2x
NetLink NBN	$3.5B	11.0x	15.5x
Axtel	$3.5B	5.3x	16.8x
Telecom Egypt	$3.3B	1.6x	4.1x
Internet Initiative Japan	$3.2B	1.5x	8.2x
B Communications	$3.1B	n/a	n/a
Almendral	$3.0B	n/a	n/a
Vodafone Qatar	$3.0B	3.1x	7.3x
Beyon	$2.8B	n/a	n/a
GMO Internet group	$2.7B	1.4x	5.9x
HKBN	$2.7B	1.9x	8.4x
Ooredoo	$2.4B	1.0x	2.7x
Cellcom Israel	$2.4B	1.8x	n/a
Tuas	$2.3B	19.2x	42.7x
Tele Columbus	$2.3B	4.6x	10.5x
Moratelindo	$2.2B	n/a	n/a
Partner Communications Co.	$2.1B	2.1x	n/a
Oi	$2.0B	n/a	n/a
Time Dotcom	$2.0B	4.7x	11.5x
Space42	$2.0B	n/a	n/a
Gogo Air	$2.0B	2.4x	9.6x
Merit Interactive Co	$1.9B	n/a	n/a
Converge ICT	$1.8B	2.4x	4.0x
Telkom South Africa	$1.8B	0.7x	2.7x
GMO internet	$1.7B	3.9x	n/a
stc Kuwait	$1.7B	1.5x	6.0x
Okinawa Cellular	$1.6B	2.8x	9.5x
WideOpenWest	$1.5B	2.5x	5.2x
CITIC Telecom International	$1.4B	1.2x	5.8x
Telia Lietuva	$1.3B	n/a	n/a
Pakistan Telecom	$1.3B	n/a	n/a
Aussie Broadband	$1.2B	1.5x	12.7x
Shentel	$1.2B	3.4x	10.6x
Dialog Axiata	$1.1B	1.9x	n/a
Telekom Slovenije	$1.1B	n/a	n/a
IDT	$1.0B	0.8x	7.8x
Jordan Telecom	$1.0B	n/a	n/a
Asian Pay Television	$1.0B	n/a	n/a
Superloop	$995M	2.6x	15.5x
LINK Mobility Group	$915M	1.3x	11.0x
Blu Label Unlimited Group	$878M	n/a	n/a
Nepal Telecom	$850M	n/a	n/a
ATN International	$842M	1.2x	4.8x
Etihad Atheeb Telecom	$828M	2.1x	9.5x
Sonaecom	$826M	n/a	n/a
Makedonski Telekom	$707M	n/a	n/a
Tucows	$677M	1.9x	n/a
SLTMobitel	$658M	n/a	n/a
IndoInternet	$625M	n/a	n/a
Bahnhof	$625M	2.7x	16.6x
Desktop Sigmanet	$563M	2.5x	4.8x
SmarTone	$544M	0.7x	n/a
GO plc	$538M	n/a	n/a
Telefónica Chile	$504M	n/a	n/a
Ooredoo Oman	$495M	0.8x	2.0x
Ovzon	$487M	7.0x	20.7x
Balitower	$480M	n/a	n/a
Jasmine International	$394M	n/a	n/a
Unifique Telecom	$384M	1.9x	3.9x
Vision	$325M	1.2x	n/a
Bredband2	$306M	1.6x	9.6x
Thaicom	$278M	3.9x	11.0x
Hutchison	$251M	0.4x	n/a
FreeBit Co	$235M	0.6x	n/a
Intred	$221M	3.4x	7.5x
Bangladesh Submarine Cables	$193M	n/a	n/a
Ooredoo Palestine	$189M	n/a	n/a
GTPL Hathway	$164M	n/a	n/a
Tessellis	$146M	n/a	n/a
Unidata	$146M	1.2x	4.4x
Zain Bahrain	$145M	n/a	n/a
Ecotel	$62.7M	0.5x	4.8x
Broadmedia	$61.2M	0.6x	n/a
KVH Industries	$58.8M	0.5x	6.5x
uCloudlink	$52.5M	0.6x	9.8x
Hyundai Futurenet	$34.8M	n/a	n/a
ET Bogotá	$27.0M	n/a	n/a
Hathway	$13.6M	n/a	n/a
MNC Vision Networks	-$10.3M	n/a	n/a
Telebras	-$40.1M	n/a	n/a
Den Networks	-$201M	n/a	n/a