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Public Comps and Valuation Multiples for Telecom Infrastructure

Benchmark revenue and EBITDA valuation multiples for public comps like
Bharti Airtel, Equinix, American Tower, Nokia and Digital Realty Trust.

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Telecom Infrastructure

Viewing 25 of 89 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Bharti Airtel	$125B	$139B	$23B	6.1x	10.7x
Equinix	$110B	$130B	$10B	13.4x	26.8x
American Tower	$84B	$127B	$11B	11.8x	17.7x
Nokia	$77B	$74B	$24B	3.1x	22.1x
Digital Realty Trust	$69B	$86B	$6B	13.4x	24.5x
Ciena	$65B	$65B	$6B	11.3x	58.6x
Yangtze Optical Fibre	$48B	$48B	$3B	17.0x	67.0x
HENGTONG Group	$43B	$43B	$11B	3.9x	36.7x
Telstra	$40B	$52B	$16B	3.2x	8.4x
Ericsson	$39B	$36B	$25B	1.4x	7.9x
Crown Castle	$37B	$67B	$4B	16.0x	23.9x
MasTec	$31B	$34B	$16B	2.1x	25.4x
BT Group	$25B	$53B	$26B	2.0x	4.8x
Vantage Towers	$22B	$27B	-	-	-
Cellnex	$22B	$45B	$5B	9.5x	11.4x
China Tower	$21B	$32B	$15B	2.2x	3.5x
SBA Communications	$20B	$35B	$3B	12.4x	18.3x
FiberHome	$17B	$18B	$4B	4.5x	30.8x
Dycom Industries	$14B	$16B	$6B	2.6x	18.8x
Indus Towers	$11B	$12B	$3B	3.5x	6.5x
TIM Brasil	$10B	$12B	$5B	2.4x	4.6x
Indoritel	$8B	$9B	-	-	-
KT	$8B	$12B	$19B	0.6x	2.8x
INWIT	$7B	$12B	$1B	9.9x	10.9x
Huber+Suhner	$5B	$5B	$1B	4.4x	28.6x
Liberty Broadband	$4B		$566M
Axiata Group	$4B		$3B
Glarun Technology	$4B		$504M
Comsys Holdings	$4B		$4B
China Comservice	$4B		$22B
Array Digital Infrastructure	$3B		$182M
HFCL	$3B		$529M
Sterlite Technologies	$3B		$543M
NetLink NBN	$3B		$324M
Helios Towers	$3B		$897M
DigitalBridge Group	$3B		$94M
Telesites	$3B		$816M
Uniti Group	$3B		$3B
Solusi Tunas Pratama	$3B		-
IHS Towers	$3B		$2B
Chorus	$2B		$584M
FOCI Fiber Optic Communications	$2B		$61M
Mitratel	$2B		$558M
Browave	$2B		$71M
China Bester Group	$2B		-
Cetc Potevio Science	$2B		-
Tower Bersama	$2B		$400M
Rai Way	$2B		$330M
Anterix	$2B		$10M
SUNeVision	$2B		$407M
Priortech	$1B		-
Macquarie Technology Group	$1B		$269M
Genew	$1B		-
Cordiant Digital Infrastructure	$1B		$236M
Sarana Menara Nusantara	$1B		$775M
Superloop	$1B		$462M
Liberty Latin America	$1B		$4B
Adtran	$1B		$1B
Tejas Networks	$1B		-
Service Stream	$1B		$2B
RailTel Corporation	$1B		$467M
Hexatronic Group	$932M		$828M
GCI Liberty	$916M		-
EuroTeleSites	$854M		-
Shentel	$782M		$366M
Dalekovod	$693M		-
Inti Bangun Sejahtera	$641M		-
Reunert	$574M		$854M
Rapac	$453M		-
Comba Telecom	$409M		-
Kinx	$359M		-
Dongwon Systems	$356M		-
Balitower	$325M		-
Intracom Holdings	$323M		-
Ericsson Nikola Tesla	$300M		-
AudioCodes	$232M		$248M
Bangladesh Submarine Cables	$227M		-
GTL Infrastructure	$199M		-
Optical Cable	$175M		$72M
MNC Asia Holding	$136M		-
Ekinops	$86M		$124M
Swissnet Group	$24M		-
UTStarcom	$22M		-
Swoop Holdings	$19M		-
Huge Group Ltd	$12M		-
Vislink Technologies	$7M		-
Telemasters Holdings	$4M		-
Optiva	$1M		-
Central Wireless	$195K		-