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	$404B	4.9x	12.5x
Verizon	$352B	2.6x	7.2x
AT&T	$331B	2.7x	7.3x
Deutsche Telekom	$308B	2.5x	6.5x
China Mobile	$184B	1.3x	3.9x
SoftBank Group	$157B	3.3x	5.6x
NTT Group	$146B	1.6x	6.6x
Charter Communications	$143B	2.6x	6.3x
Bharti Airtel	$141B	6.9x	12.9x
SoftBank	$92.7B	2.2x	8.0x
China Telecom	$88.4B	1.2x	4.5x
KDDI	$87.5B	2.2x	7.3x
Vodafone	$68.9B	1.7x	5.6x
Telefónica	$62.6B	1.4x	5.0x
stc Group	$59.2B	2.9x	9.1x
Singtel	$49.8B	4.6x	17.3x
e&	$49.8B	3.0x	6.7x
BCE	$48.5B	2.8x	6.6x
BT Group	$47.2B	1.8x	4.5x
Telstra	$42.8B	2.9x	8.2x
TELUS	$41.6B	2.9x	8.1x
Swisscom	$32.5B	2.4x	6.0x
China Unicom	$31.6B	0.6x	2.3x
Advanced Info Service	$30.4B	4.8x	9.1x
Chunghwa Telecom	$29.6B	4.3x	11.3x
Orange	$29.6B	0.7x	2.2x
Telenor	$26.9B	3.5x	8.1x
Altice USA	$26.1B	3.0x	7.8x
KPN	$23.1B	3.8x	8.4x
Telia	$21.7B	2.4x	6.9x
China United Network	$21.1B	0.4x	1.6x
Lumen	$19.8B	1.5x	5.8x
Frontier Comms Parent Inc	$19.8B	3.3x	8.6x
TIM	$18.1B	1.2x	3.6x
Telefônica Brasil	$16.7B	1.7x	4.1x
Telkom Indonesia	$16.6B	1.8x	3.6x
Vodacom	$15.9B	1.9x	5.2x
HKT Trust and HKT	$15.4B	3.4x	8.6x
Liberty Broadband	$14.6B	14.3x	47.5x
Mobily	$14.2B	2.9x	7.4x
SK Telecom	$13.9B	1.1x	3.7x
MTN Group	$13.4B	1.3x	3.5x
Taiwan Mobile	$13.4B	2.2x	10.5x
Airtel Africa	$12.4B	2.5x	5.4x
Maroc Telecom	$12.2B	3.2x	6.1x
CelcomDigi	$12.0B	4.2x	9.0x
Tele2	$11.9B	4.0x	9.9x
KT	$11.7B	0.6x	3.3x
Zegona Communications	$11.4B	2.7x	6.6x
PCCW	$11.4B	2.3x	6.8x
Far EasTone Telecom Co	$11.4B	3.5x	10.2x
Zain Group	$11.3B	1.7x	4.9x
Globe Telecom	$11.1B	3.5x	7.3x
Tigo	$10.9B	1.9x	4.3x
China Satellite	$10.8B	n/a	n/a
Ooredoo Qatar	$10.8B	1.7x	4.0x
PLDT	$10.4B	2.7x	5.5x
TDS	$9.9B	2.0x	7.9x
TPG Telecom	$9.7B	2.8x	7.8x
Bharti Hexacom	$9.6B	9.6x	19.4x
Sunrise Communications	$9.6B	2.8x	7.5x
UScellular	$9.3B	2.5x	9.2x
Elisa	$9.2B	3.9x	10.9x
TIM Brasil	$9.0B	2.0x	4.0x
Omantel	$8.5B	1.1x	3.1x
A1 Telekom Austria Group	$8.0B	1.4x	3.7x
Maxis	$8.0B	3.3x	8.5x
OTE	$7.4B	1.9x	4.9x
United Internet	$7.4B	1.1x	5.2x
LG U+	$7.4B	0.7x	3.1x
Viasat	$7.0B	1.6x	4.5x
Proximus	$6.8B	1.0x	3.3x
Tata Communications	$6.5B	2.4x	11.9x
Safaricom	$6.5B	2.2x	4.7x
Türk Telekom	$6.3B	1.3x	3.5x
Telekom Malaysia	$6.2B	2.3x	6.0x
Bezeq Group	$6.0B	2.7x	5.9x
Turkcell	$5.9B	1.2x	2.9x
VEON	$5.6B	1.4x	3.2x
Cogeco Communications	$5.3B	2.6x	5.2x
Zain Saudi Arabia	$5.3B	1.9x	5.9x
MTN Nigeria	$5.1B	2.1x	5.1x
Cable One	$4.9B	3.2x	5.9x
Orange Polska	$4.7B	1.4x	5.0x
Cogent Communications	$4.7B	4.5x	13.8x
XL Axiata	$4.4B	2.1x	4.1x
Iridium	$4.3B	5.2x	9.1x
Magyar Telekom	$4.3B	1.6x	4.3x
Grameenphone	$4.1B	3.0x	5.1x
Sinnet Technology	$4.0B	3.7x	19.5x
Cogeco	$3.9B	1.8x	3.8x
Entel	$3.5B	1.2x	4.1x
MTNL Delhi	$3.4B	n/a	n/a
Hrvatski Telekom	$3.4B	n/a	n/a
Orange Belgium	$3.3B	1.6x	5.8x
1&1	$3.2B	0.7x	5.0x
Internet Initiative Japan	$3.1B	1.5x	8.9x
NetLink NBN	$3.1B	9.9x	13.9x
Almendral	$3.0B	n/a	n/a
Axtel	$3.0B	5.2x	16.5x
B Communications	$2.9B	n/a	n/a
Megacable	$2.9B	1.7x	3.9x
Globalstar	$2.6B	10.3x	19.4x
Telecom Egypt	$2.6B	1.6x	3.9x
Beyon	$2.6B	2.2x	5.4x
GMO Internet group	$2.6B	1.4x	5.9x
Converge ICT	$2.5B	3.5x	5.7x
Vodafone Qatar	$2.5B	2.9x	6.6x
HKBN	$2.2B	1.6x	7.4x
Tele Columbus	$2.0B	n/a	n/a
Merit Interactive Co	$1.9B	n/a	n/a
Time Dotcom	$1.8B	4.7x	11.5x
Oi	$1.8B	n/a	n/a
Gogo Air	$1.8B	3.3x	11.5x
Telkom South Africa	$1.8B	0.7x	2.9x
Ooredoo	$1.7B	0.7x	2.0x
Cellcom Israel	$1.6B	1.4x	n/a
Smartfren	$1.6B	n/a	n/a
Partner Communications Co.	$1.5B	1.7x	n/a
Space42	$1.5B	n/a	n/a
Tuas	$1.5B	14.4x	32.7x
stc Kuwait	$1.5B	1.3x	5.3x
Telefónica Perú	$1.5B	n/a	n/a
CITIC Telecom International	$1.4B	1.1x	5.3x
WideOpenWest	$1.4B	2.2x	4.7x
Okinawa Cellular	$1.3B	2.3x	7.9x
Telia Lietuva	$1.1B	n/a	n/a
Shentel	$1.1B	3.2x	10.6x
IDT	$1.1B	0.9x	n/a
Jordan Telecom	$1.0B	n/a	n/a
Telekom Slovenije	$1.0B	n/a	n/a
Nepal Telecom	$975M	n/a	n/a
MTN Ghana	$964M	0.9x	1.5x
Asian Pay Television	$917M	n/a	n/a
Pakistan Telecom	$907M	n/a	n/a
ATN International	$890M	1.2x	4.9x
Moratelindo	$807M	n/a	n/a
Aussie Broadband	$794M	1.1x	9.5x
Etihad Atheeb Telecom	$743M	n/a	n/a
Dialog Axiata	$717M	1.2x	n/a
Superloop	$682M	2.1x	13.8x
LINK Mobility Group	$657M	1.0x	9.4x
SLTMobitel	$644M	n/a	n/a
Tucows	$633M	1.7x	n/a
Makedonski Telekom	$614M	n/a	n/a
Sonaecom	$605M	n/a	n/a
Blue Label Telecoms	$545M	n/a	n/a
IndoInternet	$529M	n/a	n/a
GO plc	$496M	n/a	n/a
Balitower	$496M	n/a	n/a
Bahnhof	$483M	2.3x	14.7x
SmarTone	$482M	0.6x	1.6x
Ooredoo Oman	$388M	0.6x	1.6x
Ovzon	$363M	9.5x	57.5x
Telefónica Chile	$361M	n/a	n/a
Desktop Sigmanet	$346M	1.7x	3.3x
Jasmine International	$316M	n/a	n/a
Vision	$299M	1.2x	n/a
Unifique Telecom	$258M	1.4x	2.9x
Intred	$214M	3.5x	7.9x
Bredband2	$205M	1.2x	7.1x
Thaicom	$202M	2.8x	8.2x
Bangladesh Submarine Cables	$190M	n/a	n/a
Hutchison	$163M	0.3x	0.9x
GTPL Hathway	$162M	n/a	n/a
FreeBit	$153M	0.4x	n/a
Hutchison Telecom	$141M	n/a	n/a
Tessellis	$139M	n/a	n/a
Zain Bahrain	$138M	n/a	n/a
Unidata	$133M	1.2x	4.4x
Ooredoo Palestine	$90.4M	n/a	n/a
Broadmedia	$59.7M	0.6x	n/a
Ecotel	$49.7M	0.4x	4.7x
KVH Industries	$45.9M	0.4x	5.4x
Hathway	$31.4M	n/a	n/a
ET Bogotá	$26.1M	n/a	n/a
uCloudlink	$7.0M	0.1x	1.1x
Telebras	-$0.6M	n/a	n/a
Hyundai Futurenet	-$38.1M	n/a	n/a
MNC Vision Networks	-$52.8M	n/a	n/a
Den Networks	-$187M	n/a	n/a