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Bharti Airtel Valuation Multiples

Discover revenue and EBITDA valuation multiples for Bharti Airtel and similar public comparables like Intracom Holdings, Telstra, and Macquarie Technology Group.

Bharti Airtel Overview

About Bharti Airtel

Bharti Airtel Ltd is a telecommunications company. The company's segment includes Mobile Services India; Mobile Services Africa; Mobile Services South Asia; Airtel Business; Tower Infrastructure Services; Homes Services; Digital TV Services and others. It generates maximum revenue from the Mobile Services India segment. Mobile Services India services cover voice and data telecom services provided through wireless technology (2G /3G/4G) in India. It includes the captive national long distance networks which provide connectivity to the mobile services business in India. It also includes intra-city fibre networks.


Founded

1995

HQ

India
Employees

23.6K+

Website

airtel.in

Financials

LTM Revenue $20.9B

LTM EBITDA $11.4B

EV

$150B

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Bharti Airtel Financials

Bharti Airtel has a last 12-month revenue (LTM) of $20.9B and a last 12-month EBITDA of $11.4B.

In the most recent fiscal year, Bharti Airtel achieved revenue of $20.3B and an EBITDA of $12.4B.

Bharti Airtel expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Bharti Airtel P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $20.9B XXX $20.3B XXX XXX XXX
Gross Profit $15.6B XXX $13.9B XXX XXX XXX
Gross Margin 75% XXX 68% XXX XXX XXX
EBITDA $11.4B XXX $12.4B XXX XXX XXX
EBITDA Margin 55% XXX 61% XXX XXX XXX
EBIT $6.0B XXX $5.6B XXX XXX XXX
EBIT Margin 29% XXX 28% XXX XXX XXX
Net Profit $3.9B XXX $3.9B XXX XXX XXX
Net Margin 18% XXX 19% XXX XXX XXX
Net Debt XXX XXX $16.7B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Bharti Airtel Stock Performance

As of May 30, 2025, Bharti Airtel's stock price is INR 1827 (or $21).

Bharti Airtel has current market cap of INR 11.13T (or $130B), and EV of INR 12.81T (or $150B).

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Bharti Airtel Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$150B $130B XXX XXX XXX XXX $0.48

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Bharti Airtel Valuation Multiples

As of May 30, 2025, Bharti Airtel has market cap of $130B and EV of $150B.

Bharti Airtel's trades at 7.7x EV/Revenue multiple, and 13.3x EV/EBITDA.

Equity research analysts estimate Bharti Airtel's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Bharti Airtel has a P/E ratio of 33.8x.

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Bharti Airtel Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $130B XXX $130B XXX XXX XXX
EV (current) $150B XXX $150B XXX XXX XXX
EV/Revenue 7.2x XXX 7.7x XXX XXX XXX
EV/EBITDA 13.1x XXX 13.3x XXX XXX XXX
EV/EBIT 24.9x XXX 28.1x XXX XXX XXX
EV/Gross Profit 9.6x XXX n/a XXX XXX XXX
P/E 33.8x XXX 41.2x XXX XXX XXX
EV/FCF 36.4x XXX 34.0x XXX XXX XXX

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Bharti Airtel Margins & Growth Rates

Bharti Airtel's last 12 month revenue growth is 19%

Bharti Airtel's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.4M for the same period.

Bharti Airtel's rule of 40 is 77% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Bharti Airtel's rule of X is 102% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Bharti Airtel Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 19% XXX 17% XXX XXX XXX
EBITDA Margin 55% XXX 58% XXX XXX XXX
EBITDA Growth 21% XXX 16% XXX XXX XXX
Rule of 40 77% XXX 77% XXX XXX XXX
Bessemer Rule of X XXX XXX 102% XXX XXX XXX
Revenue per Employee XXX XXX $0.9M XXX XXX XXX
Opex per Employee XXX XXX $0.4M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 7% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 41% XXX XXX XXX

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Bharti Airtel Public Comps

See public comps and valuation multiples for Telecom Infrastructure and Telecom Service Providers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Macquarie Technology Group XXX XXX XXX XXX XXX XXX
Superloop XXX XXX XXX XXX XXX XXX
Service Stream XXX XXX XXX XXX XXX XXX
Telstra XXX XXX XXX XXX XXX XXX
Intracom Holdings XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Bharti Airtel M&A and Investment Activity

Bharti Airtel acquired  XXX companies to date.

Last acquisition by Bharti Airtel was  XXXXXXXX, XXXXX XXXXX XXXXXX . Bharti Airtel acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Bharti Airtel

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Bharti Airtel

When was Bharti Airtel founded? Bharti Airtel was founded in 1995.
Where is Bharti Airtel headquartered? Bharti Airtel is headquartered in India.
How many employees does Bharti Airtel have? As of today, Bharti Airtel has 23.6K+ employees.
Who is the CEO of Bharti Airtel? Bharti Airtel's CEO is Mr. Gopal Vittal.
Is Bharti Airtel publicy listed? Yes, Bharti Airtel is a public company listed on NSE.
What is the stock symbol of Bharti Airtel? Bharti Airtel trades under BHARTIARTL ticker.
When did Bharti Airtel go public? Bharti Airtel went public in 2002.
Who are competitors of Bharti Airtel? Similar companies to Bharti Airtel include e.g. Macquarie Technology Group, Superloop, Service Stream, Telstra.
What is the current market cap of Bharti Airtel? Bharti Airtel's current market cap is $130B
What is the current revenue of Bharti Airtel? Bharti Airtel's last 12 months revenue is $20.9B.
What is the current revenue growth of Bharti Airtel? Bharti Airtel revenue growth (NTM/LTM) is 19%.
What is the current EV/Revenue multiple of Bharti Airtel? Current revenue multiple of Bharti Airtel is 7.2x.
Is Bharti Airtel profitable? Yes, Bharti Airtel is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Bharti Airtel? Bharti Airtel's last 12 months EBITDA is $11.4B.
What is Bharti Airtel's EBITDA margin? Bharti Airtel's last 12 months EBITDA margin is 55%.
What is the current EV/EBITDA multiple of Bharti Airtel? Current EBITDA multiple of Bharti Airtel is 13.1x.
What is the current FCF of Bharti Airtel? Bharti Airtel's last 12 months FCF is $4.1B.
What is Bharti Airtel's FCF margin? Bharti Airtel's last 12 months FCF margin is 20%.
What is the current EV/FCF multiple of Bharti Airtel? Current FCF multiple of Bharti Airtel is 36.4x.

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