May 2026
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Largest Telecom Service Providers Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Telstra, TPG Telecom, Macquarie Technology Group, Superloop and Aussie Broadband.
 | 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 | ||
| TPG Telecom is Australia's third-largest telecom services company. It offers mobile, fixed-line broadband and telephony solutions. The group caters to all market segments spanning consumer, small business, corporate, wholesale, and government. TPG Telecom has grown substantially since listing on the ASX in 2008, via organic growth and acquisitions, and culminated with the July 2020 Vodafone Hutchison Australia merger, the third-ranked mobile network operator in Australia. It owns an extensive stable of infrastructure assets, including a nationwide mobile network that is upgrading to 5G wireless. In July 2025, TPG sold its fiber assets for AUD 5.3 billion to Vocus. | $3 | -30% | $5B | $8B | 2.3x | 6.9x | ||
| 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 | ||
| Aussie Broadband is Australia’s fourth-largest retail internet services provider. It provides broadband services to households and businesses, as well as wholesale solutions to commercial enterprises. Aussie Broadband also operates as a mobile virtual network operator, using Optus’ network to provide mobile services. In 2020, the firm expanded its offerings by laying its own fiber network to service enterprise and government customers. The firm has undertaken two acquisitions, Symbio and Over the Wire, expanding its offerings for enterprise, government, and wholesale customers. | $4 | +43% | $1B | $1B | 1.5x | 12.6x | ||
| Tuas Ltd owns and operates a mobile network and provides telecommunications services in Singapore. The company generates revenue from network infrastructure to provide mobile telecommunication services. | $1 | -66% | $786M | $413M | 3.5x | 7.6x | ||
| 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 | -- | $21M | $32M | 0.4x | 6.9x | ||
| 5G Networks Ltd is a telecommunications carrier company in Australia. The services provided by the company include data connectivity, cloud based solutions, data centre services, and others. | $0 | -- | $18M | $15M | 0.3x | (1.8x) | ||
| Median | $3 | +11% | $1B | $1B | 2.8x | 8.2x |
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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