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Chorus is New Zealand’s largest fixed-line communications infrastructure entity. It completed the government's rollout of ultra-fast broadband a fiber-to-the-premises network covering 87% of the population in New Zealand in December 2022. Chorus offers wholesale access to the country's only nationwide copper and fiber network. This allows around 100 retail service providers to enable consumers and business to connect to the internet and other telecommunications products. Chorus also provides backhaul services to retail service providers and connects mobile telephony towers.
2011
755
LTM Revenue $592M
LTM EBITDA $412M
$4.3B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Chorus has a last 12-month revenue (LTM) of $592M and a last 12-month EBITDA of $412M.
In the most recent fiscal year, Chorus achieved revenue of $553M and an EBITDA of $404M.
Chorus expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Chorus valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $592M | XXX | $553M | XXX | XXX | XXX |
| Gross Profit | n/a | XXX | $553M | XXX | XXX | XXX |
| Gross Margin | n/a | XXX | 100% | XXX | XXX | XXX |
| EBITDA | $412M | XXX | $404M | XXX | XXX | XXX |
| EBITDA Margin | 70% | XXX | 73% | XXX | XXX | XXX |
| EBIT | $140M | XXX | $105M | XXX | XXX | XXX |
| EBIT Margin | 24% | XXX | 19% | XXX | XXX | XXX |
| Net Profit | $7.9M | XXX | $2.3M | XXX | XXX | XXX |
| Net Margin | 1% | XXX | 0% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $1.8B | XXX | XXX | XXX |
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As of August 27, 2025, Chorus's stock price is NZD 10 (or $6).
Chorus has current market cap of NZD 4.2B (or $2.4B), and EV of NZD 7.4B (or $4.3B).
See Chorus trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4.3B | $2.4B | XXX | XXX | XXX | XXX | $0.02 |
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Start Free TrialAs of August 27, 2025, Chorus has market cap of $2.4B and EV of $4.3B.
Chorus's trades at 7.6x EV/Revenue multiple, and 10.6x EV/EBITDA.
Equity research analysts estimate Chorus's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Chorus has a P/E ratio of 308.1x.
See valuation multiples for Chorus and 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2.4B | XXX | $2.4B | XXX | XXX | XXX |
| EV (current) | $4.3B | XXX | $4.3B | XXX | XXX | XXX |
| EV/Revenue | 7.3x | XXX | 7.6x | XXX | XXX | XXX |
| EV/EBITDA | 10.5x | XXX | 10.6x | XXX | XXX | XXX |
| EV/EBIT | 30.8x | XXX | 35.5x | XXX | XXX | XXX |
| EV/Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| P/E | 308.1x | XXX | -1678.3x | XXX | XXX | XXX |
| EV/FCF | 43.7x | XXX | 63.6x | XXX | XXX | XXX |
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Start Free TrialChorus's last 12 month revenue growth is 2%
Chorus's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.6M for the same period.
Chorus's rule of 40 is 73% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Chorus's rule of X is 74% (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).
See operational valuation multiples for Chorus and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 3% | XXX | XXX | XXX |
| EBITDA Margin | 70% | XXX | 71% | XXX | XXX | XXX |
| EBITDA Growth | 2% | XXX | 2% | XXX | XXX | XXX |
| Rule of 40 | 73% | XXX | 73% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 74% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.6M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 1% | 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 | 81% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| 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 |
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Chorus acquired XXX companies to date.
Last acquisition by Chorus was XXXXXXXX, XXXXX XXXXX XXXXXX . Chorus acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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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Start Free Trial| When was Chorus founded? | Chorus was founded in 2011. |
| Where is Chorus headquartered? | Chorus is headquartered in New Zealand. |
| How many employees does Chorus have? | As of today, Chorus has 755 employees. |
| Is Chorus publicy listed? | Yes, Chorus is a public company listed on NZE. |
| What is the stock symbol of Chorus? | Chorus trades under CNU ticker. |
| When did Chorus go public? | Chorus went public in 2011. |
| Who are competitors of Chorus? | Similar companies to Chorus include e.g. Macquarie Technology Group, Superloop, Service Stream, Telstra. |
| What is the current market cap of Chorus? | Chorus's current market cap is $2.4B |
| What is the current revenue of Chorus? | Chorus's last 12 months revenue is $592M. |
| What is the current revenue growth of Chorus? | Chorus revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of Chorus? | Current revenue multiple of Chorus is 7.3x. |
| Is Chorus profitable? | Yes, Chorus is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Chorus? | Chorus's last 12 months EBITDA is $412M. |
| What is Chorus's EBITDA margin? | Chorus's last 12 months EBITDA margin is 70%. |
| What is the current EV/EBITDA multiple of Chorus? | Current EBITDA multiple of Chorus is 10.5x. |
| What is the current FCF of Chorus? | Chorus's last 12 months FCF is $98.7M. |
| What is Chorus's FCF margin? | Chorus's last 12 months FCF margin is 17%. |
| What is the current EV/FCF multiple of Chorus? | Current FCF multiple of Chorus is 43.7x. |
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