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	$378B	4.5x	11.7x
Verizon	$345B	2.5x	7.0x
Deutsche Telekom	$329B	2.5x	6.5x
AT&T	$327B	2.7x	7.2x
China Mobile	$195B	1.3x	4.2x
SoftBank Group	$171B	3.4x	5.4x
Charter Communications	$152B	2.8x	6.7x
NTT Group	$150B	1.6x	6.3x
Bharti Airtel	$147B	7.1x	13.4x
SoftBank	$101B	2.2x	8.3x
KDDI	$93.8B	2.3x	7.5x
China Telecom	$87.5B	1.2x	4.4x
Vodafone	$70.6B	1.7x	5.7x
Telefónica	$68.2B	1.5x	5.2x
stc Group	$60.2B	2.9x	9.2x
Singtel	$54.1B	4.9x	18.1x
BCE	$50.1B	2.9x	6.6x
BT Group	$48.9B	1.8x	4.5x
e&	$48.2B	2.8x	6.4x
TELUS	$44.5B	3.0x	8.4x
Telstra	$43.7B	2.9x	8.1x
Swisscom	$36.6B	2.4x	6.1x
Chunghwa Telecom	$32.6B	4.3x	11.4x
Advanced Info Service	$32.5B	5.0x	9.4x
Orange	$31.6B	0.7x	2.2x
China Unicom	$30.2B	0.6x	2.2x
Telenor	$28.3B	3.7x	8.4x
Altice USA	$26.6B	3.0x	7.9x
KPN	$24.1B	3.8x	8.3x
Telia	$22.5B	2.5x	6.9x
China United Network	$21.9B	0.4x	1.7x
Lumen	$20.5B	1.6x	6.0x
TIM	$20.5B	1.3x	4.0x
Frontier Comms Parent Inc	$20.3B	3.4x	8.8x
Telefônica Brasil	$18.4B	1.8x	4.4x
Telkom Indonesia	$17.6B	1.9x	3.8x
Liberty Broadband	$17.3B	16.8x	56.2x
Vodacom	$17.0B	2.0x	5.4x
HKT Trust and HKT	$16.4B	3.6x	9.2x
MTN Group	$15.1B	1.4x	3.8x
KT	$14.7B	0.8x	3.9x
Taiwan Mobile	$14.3B	2.1x	10.2x
Mobily	$14.2B	2.9x	7.4x
SK Telecom	$13.9B	1.1x	3.5x
CelcomDigi	$13.7B	4.6x	9.9x
Airtel Africa	$13.6B	2.7x	5.7x
Maroc Telecom	$13.2B	3.3x	6.3x
Tele2	$12.7B	4.2x	10.1x
Tigo	$12.4B	2.1x	4.9x
Zegona Communications	$12.2B	2.9x	7.1x
Far EasTone Telecom Co	$12.0B	3.4x	9.9x
PCCW	$11.9B	2.5x	7.1x
Ooredoo Qatar	$11.7B	1.8x	4.3x
Zain Group	$11.6B	1.8x	5.0x
Globe Telecom	$11.2B	3.4x	7.2x
Bharti Hexacom	$10.8B	10.6x	21.3x
China Satellite	$10.8B	n/a	n/a
PLDT	$10.7B	2.7x	5.5x
Sunrise Communications	$10.5B	2.9x	7.8x
TIM Brasil	$10.2B	2.2x	4.5x
TPG Telecom	$10.2B	2.9x	8.0x
TDS	$9.6B	2.0x	7.7x
Elisa	$9.6B	3.8x	10.8x
A1 Telekom Austria Group	$9.5B	1.5x	4.1x
Maxis	$9.0B	3.6x	9.3x
UScellular	$8.7B	2.3x	8.7x
OTE	$8.6B	2.1x	5.5x
United Internet	$8.6B	1.2x	5.8x
Omantel	$8.6B	1.1x	3.1x
LG U+	$8.4B	0.8x	3.3x
Proximus	$7.3B	1.0x	3.4x
Viasat	$7.3B	1.6x	4.7x
Safaricom	$6.9B	2.3x	5.0x
Telekom Malaysia	$6.9B	2.5x	6.4x
Türk Telekom	$6.9B	1.4x	3.7x
Tata Communications	$6.5B	2.4x	11.9x
Turkcell	$6.3B	1.3x	3.1x
Bezeq Group	$6.3B	2.7x	6.0x
VEON	$6.3B	1.5x	3.6x
Cogeco Communications	$5.6B	2.6x	5.3x
MTN Nigeria	$5.5B	2.3x	5.4x
Orange Polska	$5.2B	1.5x	5.2x
Zain Saudi Arabia	$5.1B	1.8x	5.7x
PT XLSmart Telecom	$5.0B	2.3x	4.6x
Magyar Telekom	$4.9B	1.8x	4.7x
Cogent Communications	$4.7B	4.6x	13.9x
Iridium	$4.5B	5.4x	9.5x
Cable One	$4.3B	2.8x	5.2x
Sinnet Technology	$4.1B	4.0x	20.6x
Cogeco	$4.1B	1.9x	3.9x
Grameenphone	$3.8B	2.9x	4.9x
Hrvatski Telekom	$3.6B	n/a	n/a
1&1	$3.6B	0.8x	5.5x
Orange Belgium	$3.5B	1.6x	5.9x
Entel	$3.5B	1.1x	3.9x
Internet Initiative Japan	$3.5B	1.6x	9.1x
Megacable	$3.4B	2.0x	4.4x
MTNL Delhi	$3.4B	n/a	n/a
NetLink NBN	$3.2B	10.1x	14.2x
Vodafone Qatar	$3.1B	3.5x	8.2x
B Communications	$3.1B	n/a	n/a
Almendral	$3.0B	n/a	n/a
GMO Internet group	$2.9B	1.5x	6.4x
Axtel	$2.8B	4.7x	15.0x
Beyon	$2.7B	n/a	n/a
Globalstar	$2.7B	10.6x	19.9x
Converge ICT	$2.7B	3.5x	5.8x
Telecom Egypt	$2.6B	1.5x	3.9x
Gogo Air	$2.4B	4.2x	14.7x
HKBN	$2.3B	1.7x	7.5x
Merit Interactive Co	$2.0B	n/a	n/a
Time Dotcom	$2.0B	5.0x	12.2x
Tele Columbus	$2.0B	4.1x	9.5x
Telkom South Africa	$1.8B	0.8x	3.1x
Oi	$1.8B	n/a	n/a
Cellcom Israel	$1.8B	1.4x	n/a
Tuas	$1.7B	16.2x	36.6x
Space42	$1.7B	n/a	n/a
Ooredoo	$1.7B	0.7x	1.9x
stc Kuwait	$1.6B	1.4x	5.7x
Partner Communications Co.	$1.5B	1.6x	n/a
Okinawa Cellular	$1.5B	2.5x	8.8x
CITIC Telecom International	$1.5B	1.2x	5.5x
WideOpenWest	$1.4B	2.3x	4.9x
MTN Ghana	$1.4B	n/a	n/a
IDT	$1.3B	1.1x	n/a
Telia Lietuva	$1.2B	n/a	n/a
Shentel	$1.1B	3.2x	10.6x
Telekom Slovenije	$1.1B	n/a	n/a
Pakistan Telecom	$1.0B	n/a	n/a
Jordan Telecom	$994M	n/a	n/a
Asian Pay Television	$950M	n/a	n/a
Nepal Telecom	$937M	n/a	n/a
Telefónica Perú	$896M	n/a	n/a
Aussie Broadband	$851M	1.1x	9.9x
ATN International	$838M	1.1x	4.6x
Moratelindo	$836M	n/a	n/a
LINK Mobility Group	$830M	1.2x	11.9x
Superloop	$821M	2.4x	15.8x
Etihad Atheeb Telecom	$785M	2.2x	11.2x
Dialog Axiata	$733M	1.2x	n/a
Makedonski Telekom	$674M	n/a	n/a
Sonaecom	$654M	n/a	n/a
Tucows	$648M	1.8x	n/a
SLTMobitel	$637M	n/a	n/a
Blue Label Telecoms	$620M	n/a	n/a
Bahnhof	$576M	2.7x	16.6x
IndoInternet	$543M	n/a	n/a
GO plc	$536M	n/a	n/a
SmarTone	$523M	0.7x	1.7x
Balitower	$454M	n/a	n/a
Telefónica Chile	$432M	n/a	n/a
Ooredoo Oman	$392M	0.6x	1.6x
Jasmine International	$374M	n/a	n/a
Desktop Sigmanet	$370M	1.8x	3.5x
Ovzon	$367M	9.3x	51.2x
Vision	$357M	1.4x	n/a
Unifique Telecom	$290M	1.6x	3.2x
Thaicom	$262M	3.6x	11.1x
Bredband2	$241M	1.3x	8.1x
Hutchison	$218M	0.4x	1.2x
Intred	$218M	3.4x	7.8x
Bangladesh Submarine Cables	$183M	n/a	n/a
Hutchison Telecom	$179M	n/a	n/a
FreeBit	$171M	0.5x	3.7x
GTPL Hathway	$161M	n/a	n/a
Zain Bahrain	$156M	n/a	n/a
Tessellis	$147M	n/a	n/a
Unidata	$147M	1.2x	4.6x
Ooredoo Palestine	$99.2M	n/a	n/a
Ecotel	$61.1M	0.5x	5.3x
KVH Industries	$51.2M	0.4x	6.0x
Broadmedia	$46.3M	0.4x	n/a
Hathway	$46.0M	n/a	n/a
ET Bogotá	$28.0M	n/a	n/a
uCloudlink	$19.3M	0.2x	3.1x
Hyundai Futurenet	-$2.5M	n/a	n/a
Telebras	-$8.5M	n/a	n/a
MNC Vision Networks	-$50.5M	n/a	n/a
Den Networks	-$182M	n/a	n/a