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	$368B	4.4x	11.2x
Verizon	$341B	2.5x	6.9x
AT&T	$331B	2.7x	7.3x
Deutsche Telekom	$326B	2.4x	6.1x
China Mobile	$203B	1.4x	4.3x
SoftBank Group	$199B	3.9x	6.1x
Bharti Airtel	$154B	7.2x	13.1x
NTT Group	$151B	1.6x	6.4x
Charter Communications	$148B	2.7x	6.5x
SoftBank	$101B	2.2x	8.3x
KDDI	$88.0B	2.1x	7.0x
China Telecom	$85.4B	1.2x	4.3x
Vodafone	$71.0B	1.6x	5.5x
Singtel	$59.9B	5.4x	19.9x
stc Group	$55.3B	2.7x	8.4x
BT Group	$53.9B	1.9x	4.8x
BCE	$52.7B	2.9x	6.8x
e&	$50.0B	2.8x	6.5x
Telstra	$47.3B	3.0x	8.4x
TELUS	$46.4B	3.1x	8.5x
Swisscom	$40.1B	2.4x	6.0x
Orange	$35.0B	0.7x	2.3x
Chunghwa Telecom	$34.3B	4.3x	11.3x
China Unicom	$32.0B	0.6x	2.3x
Advanced Info Service	$31.4B	4.7x	8.8x
Telenor	$29.6B	3.7x	8.5x
Telefónica	$27.0B	0.6x	1.9x
Altice USA	$26.5B	3.0x	7.8x
KPN	$26.0B	3.9x	8.4x
Telia	$22.1B	2.5x	6.7x
China United Network	$21.9B	0.4x	1.6x
Telefônica Brasil	$21.5B	2.0x	4.9x
Frontier Comms Parent Inc	$20.3B	3.4x	8.8x
Telkom Indonesia	$18.8B	2.0x	4.0x
Vodacom	$18.1B	2.0x	5.5x
MTN Group	$17.8B	1.5x	4.1x
Liberty Broadband	$17.3B	16.6x	55.6x
HKT Trust and HKT	$17.1B	3.8x	9.6x
Airtel Africa	$14.6B	2.7x	5.8x
Maroc Telecom	$14.5B	3.4x	6.6x
Mobily	$14.2B	2.8x	7.3x
Taiwan Mobile	$14.1B	2.0x	9.6x
Zegona Communications	$13.8B	3.4x	7.9x
Tigo	$12.9B	2.3x	5.1x
Tele2	$12.9B	4.1x	9.8x
Zain Group	$12.5B	1.8x	5.2x
Ooredoo Qatar	$12.4B	1.8x	4.4x
PCCW	$12.0B	2.5x	7.1x
Far EasTone Telecom Co	$12.0B	3.2x	9.3x
Bharti Hexacom	$11.2B	10.6x	21.3x
Sunrise Communications	$11.1B	2.9x	7.4x
China Satellite	$10.9B	n/a	n/a
TPG Telecom	$10.8B	2.9x	8.3x
Elisa	$10.4B	4.0x	11.1x
PLDT	$10.4B	2.7x	5.3x
Globe Telecom	$10.3B	3.2x	6.7x
TDS	$10.3B	2.1x	8.3x
A1 Telekom Austria Group	$9.9B	1.5x	4.0x
UScellular	$9.6B	2.6x	9.9x
United Internet	$8.4B	1.1x	5.4x
Proximus	$8.3B	1.1x	3.7x
OTE	$7.9B	1.9x	4.8x
Viasat	$7.9B	1.7x	5.1x
MTN Nigeria	$7.3B	2.7x	6.1x
Bezeq Group	$7.1B	2.9x	6.4x
Tata Communications	$7.0B	2.5x	12.5x
Türk Telekom	$6.4B	1.3x	3.4x
VEON	$6.1B	1.5x	3.5x
Turkcell	$6.0B	1.2x	2.8x
Cogeco Communications	$5.9B	2.7x	5.5x
PT XLSmart Telecom	$5.2B	2.1x	4.2x
Iridium	$5.2B	6.0x	10.7x
Magyar Telekom	$5.1B	1.8x	4.5x
Zain Saudi Arabia	$5.1B	1.8x	5.7x
Cogent Communications	$4.6B	4.6x	13.8x
1&1	$4.3B	0.9x	6.4x
Cogeco	$4.2B	1.9x	3.9x
Cable One	$4.1B	2.7x	5.0x
Sinnet Technology	$4.0B	3.8x	19.4x
Orange Belgium	$3.8B	1.6x	6.0x
Globalstar	$3.7B	14.6x	27.6x
Grameenphone	$3.7B	2.9x	4.9x
Megacable	$3.7B	2.0x	4.4x
MTNL Delhi	$3.6B	n/a	n/a
Entel	$3.5B	1.1x	4.0x
GMO Internet group	$3.3B	1.7x	7.1x
NetLink NBN	$3.3B	10.2x	14.4x
Internet Initiative Japan	$3.2B	1.4x	8.6x
Axtel	$3.0B	4.8x	15.4x
B Communications	$3.0B	n/a	n/a
Vodafone Qatar	$3.0B	3.2x	7.6x
Almendral	$2.9B	n/a	n/a
Gogo Air	$2.9B	4.2x	15.8x
Telecom Egypt	$2.8B	1.5x	3.9x
Beyon	$2.7B	n/a	n/a
Converge ICT	$2.7B	3.4x	5.7x
Space42	$2.3B	n/a	n/a
HKBN	$2.3B	1.7x	7.5x
Tele Columbus	$2.2B	4.5x	10.4x
Cellcom Israel	$2.1B	1.6x	n/a
TIM Brasil	$2.0B	0.4x	0.8x
Oi	$2.0B	n/a	n/a
Telkom South Africa	$2.0B	0.8x	3.1x
Partner Communications Co.	$1.9B	1.9x	n/a
Merit Interactive Co	$1.9B	n/a	n/a
stc Kuwait	$1.7B	1.4x	5.8x
Ooredoo	$1.7B	0.7x	1.9x
Okinawa Cellular	$1.6B	2.7x	9.4x
Tuas	$1.6B	18.1x	42.7x
CITIC Telecom International	$1.5B	1.2x	5.7x
WideOpenWest	$1.4B	2.3x	4.8x
Telia Lietuva	$1.3B	n/a	n/a
Shentel	$1.3B	3.6x	11.6x
Telekom Slovenije	$1.2B	n/a	n/a
MTN Ghana	$1.1B	n/a	n/a
Jordan Telecom	$1.0B	n/a	n/a
Superloop	$1000M	2.7x	17.7x
Asian Pay Television	$981M	n/a	n/a
Telefónica Perú	$937M	n/a	n/a
Blue Label Telecoms	$929M	n/a	n/a
Nepal Telecom	$896M	n/a	n/a
ATN International	$887M	1.2x	4.9x
LINK Mobility Group	$886M	1.2x	11.5x
Dialog Axiata	$885M	1.5x	n/a
Aussie Broadband	$832M	1.1x	9.2x
Moratelindo	$832M	n/a	n/a
Etihad Atheeb Telecom	$793M	2.2x	11.1x
Tucows	$729M	2.0x	n/a
Sonaecom	$685M	n/a	n/a
Makedonski Telekom	$670M	n/a	n/a
SLTMobitel	$637M	n/a	n/a
Bahnhof	$621M	2.8x	17.4x
Ovzon	$598M	10.0x	37.1x
GO plc	$552M	n/a	n/a
IndoInternet	$549M	n/a	n/a
SmarTone	$542M	n/a	n/a
Balitower	$541M	n/a	n/a
Telefónica Chile	$440M	n/a	n/a
Desktop Sigmanet	$405M	1.8x	3.6x
Jasmine International	$344M	n/a	n/a
Vision	$299M	1.1x	n/a
Unifique Telecom	$295M	1.5x	3.1x
Hutchison	$259M	0.4x	n/a
Bredband2	$259M	1.4x	8.5x
Hutchison Telecom	$227M	n/a	n/a
Intred	$219M	3.2x	7.3x
Thaicom	$202M	2.7x	8.2x
Bangladesh Submarine Cables	$178M	5.4x	7.9x
GTPL Hathway	$174M	n/a	n/a
Zain Bahrain	$154M	n/a	n/a
FreeBit Co	$150M	0.4x	3.2x
Ooredoo Palestine	$149M	n/a	n/a
Hathway	$66.1M	n/a	n/a
Broadmedia	$65.5M	0.6x	n/a
Ecotel	$63.2M	0.5x	5.1x
KVH Industries	$56.7M	0.5x	6.5x
uCloudlink	$43.6M	0.5x	7.3x
ET Bogotá	$30.5M	n/a	n/a
Telebras	-$38.2M	n/a	n/a
MNC Vision Networks	-$43.3M	n/a	n/a
Den Networks	-$158M	n/a	n/a