May 2026
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Largest Telecom Infrastructure Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Telstra, Macquarie Technology Group, Superloop, Service Stream and Swoop Holdings.
 | Telstra is Australia’s largest telecommunications company, with dominant market shares in voice, mobile, enterprise telecom, and fixed-line broadband resale via the national broadband network. The former government monopoly provides most of its services via its infrastructure assets, such as a fixed-line network (data centers, exchanges, poles, ducts, pits and pipes, fiber network), a mobile network, and mobile towers. Its customers span retail, corporate, government, wholesale, and overseas segments. Telstra also provides the government-owned, last-mile fixed-line National Broadband Network with long-term access to its infrastructure, in return for recurring payments. Finally, Telstra operates a leading telecom operation in Papua New Guinea and the surrounding South-Pacific countries. | $4 | +7% | $41B | $54B | 3.3x | 8.7x | ||
| Macquarie Technology Group operates three business units. The telecom division is how the group first began in 1992, providing voice, mobile, and general connectivity and network security services to businesses utilizing its data network. The cloud services and government division leverages the group’s data center facilities to provide cybersecurity, colocation services, public and private cloud, and storage services to corporate and government customers. In 2018, the data centers division was separately launched, providing sovereign data centers for governments, major hyperscalers, and large multinationals. | $55 | +15% | $1B | $1B | 5.5x | 17.3x | ||
| Superloop is an Australian-based fixed-line internet service provider. It provides broadband services to consumers and businesses, as well as wholesale solutions to other downstream internet services entities. Services provided include management of Wi-Fi, mobile, and National Broadband Network products. For mobile services, it operates as a mobile virtual network operator using Telstra’s network. The company owns an extensive fiber network, is also a part-owner of the Indigo subsea cable. The firm has made several large acquisitions in recent years, including Exetel (internet retailer) and Uecomm (fiber infrastructure). | $3 | +20% | $1B | $1B | 3.4x | 22.3x | ||
| Service Stream Ltd is engaged in the provision of telecommunications and network services. Its segments are Telecommunications, Transport, and Utilities. The Telecommunications segment provides a range of operations, maintenance, installation, design, and construction services to the owners of fixed-line and wireless telecommunication networks in Australia. Transport provides long-term operational support and maintenance services to public and private road and tunnel asset owners. The utilities segment provides operations, maintenance, design, and construction services, specialist metering, new energy, and inspection services to gas, water, and electricity network owners, among others. It generates revenue from the Telecommunications segment. | $2 | +20% | $1B | $1B | 0.6x | 10.1x | ||
| Swoop Holdings Ltd is a provider of fixed wireless internet services to wholesale, business and residential customers. The Swoop network is designed and scaled to deliver ultra-reliable, high-throughput, flexible telecom network services. | $0 | -- | $21M | $32M | 0.4x | 6.9x | ||
| Median | $3 | +18% | $1B | $1B | 3.3x | 10.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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