October 2026
Largest Telecom Infrastructure Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Telstra, Superloop, Service Stream, Macquarie Technology Group 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. Telstra provides most of its products and 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. | $3 | +3% | $37B | $50B | 3.2x | 9.0x | ||
| 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). | $2 | -12% | $923M | $1B | 2.7x | 19.8x | ||
| Service Stream Ltd is an essential services provider in Australia, specialising in the design, construction, operation and maintenance of essential infrastructure networks and assets across the Telecommunications, Utilities and Asset & Facility Management sectors. It delivers services across electricity, gas, water, industrial infrastructure, renewable energy systems, fixed and wireless telecommunications, Defence and social infrastructure assets, and others. Services are provided on behalf of government, government-related entities and private asset owners/network operators. Its segments are: the Telecommunications segment, generating maximum revenue and providing comprehensive, end-to-end services for fixed-line and wireless telecommunications networks, and the Utilities segment. | $1 | +1% | $919M | $940M | 0.6x | 9.6x | ||
| 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. | $32 | -26% | $826M | $913M | 3.6x | 11.6x | ||
| 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 | -43% | $16M | $19M | 0.3x | 3.8x | ||
| Pentanet Ltd is a licensed telecommunications carrier and internet service provider (ISP), delivering high-speed internet services via its fixed-wireless network and other fixed-line networks. The company provides a range of services for residential, commercial, and enterprise customers. It operates in two segments namely Telecommunications and related services, and Gaming and technology services within Australia. The company generates maximum revenue from the Telecommunications services segment. | $0 | -37% | $5M | $9M | 0.5x | (7.7x) | ||
| Median | $2 | -19% | $873M | $926M | 1.6x | 9.3x |
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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