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Public Comps and Valuation Multiples for Telecom Service Providers

Benchmark revenue and EBITDA valuation multiples for public comps like
T-Mobile US, China Mobile, Verizon, AT&T and Deutsche Telekom.

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Telecom Service Providers

Viewing 50 of 262 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
T-Mobile US	$238B	$355B	$90B	3.9x	10.2x
China Mobile	$220B	$189B	$152B	1.2x	3.8x
Verizon	$216B	$378B	$140B	2.7x	7.5x
AT&T	$203B	$340B	$126B	2.7x	7.3x
Deutsche Telekom	$182B	$337B	$140B	2.4x	6.4x
SoftBank Group	$145B	$256B	$48B	5.3x	6.4x
Bharti Airtel	$124B	$141B	$23B	6.2x	11.0x
Comcast	$111B	$200B	$123B	1.6x	5.5x
NTT Group	$78B	$161B	$89B	1.8x	7.5x
China Telecom	$75B	$67B	$77B	0.9x	3.2x
América Móvil	$71B	$108B	$55B	2.0x	5.1x
KDDI	$64B	$89B	$38B	2.3x	7.6x
SoftBank	$64B	$93B	$44B	2.1x	8.2x
Singtel	$63B	$69B	$11B	6.2x	22.3x
stc Group	$56B	$56B	$21B	2.7x	8.5x
Orange	$55B	$50B	$48B	1.0x	3.3x
e&	$48B	$59B	$20B	2.9x	6.6x
Swisscom	$47B	$50B	$19B	2.6x	5.9x
Telstra	$41B	$53B	$16B	3.3x	8.7x
Vodafone	$35B	$79B	$47B	1.7x	5.9x
Chunghwa Telecom	$33B	$33B	$8B	4.4x	11.8x
Advanced Info Service	$33B	$38B	$7B	5.4x	10.0x
Charter Communications	$29B	$126B	$55B	2.3x	5.6x
China Unicom	$29B	$26B	$57B	0.5x	1.8x
BT Group	$27B	$56B	$26B	2.2x	5.2x
Telefônica Brasil	$26B	$29B	$12B	2.5x	5.9x
Telenor	$25B	$26B	$8B	3.2x	7.1x
Telefónica	$24B	$26B	$41B	0.6x	2.1x
BCE	$24B	$56B	$18B	3.1x	7.2x
Bouygues	$23B	$36B	$67B	0.5x	5.9x
MTN Group	$22B	$25B	$14B	1.8x	4.0x
Rogers	$22B	$53B	$16B	3.3x	7.3x
China United Network	$22B	$19B	$57B	0.3x	1.4x
China Satellite	$22B	$21B	—	—	—
KPN	$21B	$29B	$7B	4.1x	8.8x
TELUS	$21B	$41B	$15B	2.8x	7.7x
Telkom Indonesia	$20B	$23B	$9B	2.6x	5.2x
Telia	$19B	$27B	$9B	3.0x	7.5x
Vodacom	$19B	$22B	$10B	2.2x	5.9x
Airtel Africa	$17B	$23B	$6B	3.6x	7.3x
TIM	$16B	$29B	$16B	1.8x	5.4x
True Corporation	$15B	$28B	$6B	4.5x	8.1x
Tele2	$14B	$17B	$3B	5.1x	11.5x
Mobily	$14B	$15B	$5B	2.8x	7.4x
du	$14B	$13B	$4B	3.1x	6.6x
TIM Brasil	$13B	$15B	$5B	2.8x	5.5x
Vodafone Idea	$13B	$37B	$5B	7.6x	17.9x
Tigo	$12B	$19B	$6B	2.9x	6.4x
HKT Trust and HKT	$12B	$18B	$5B	3.8x	9.7x
MTN Nigeria	$12B	$13B	$4B	3.3x	6.1x
Ooredoo Qatar	$11B	$X.XB	$7B	X.Xx	X.Xx
SK Telecom	$11B	$X.XB	$12B	X.Xx	X.Xx
KT	$11B	$X.XB	$19B	X.Xx	X.Xx
Far EasTone	$10B	$X.XB	$4B	X.Xx	X.Xx
Moratelindo	$10B	$X.XB	—	X.Xx	X.Xx
Safaricom	$10B	$X.XB	$3B	X.Xx	X.Xx
Taiwan Mobile	$10B	$X.XB	$6B	X.Xx	X.Xx
Frontier Comms Parent Inc	$10B	$X.XB	$6B	X.Xx	X.Xx
Quebecor	$10B	$X.XB	$4B	X.Xx	X.Xx
CelcomDigi	$9B	$X.XB	$3B	X.Xx	X.Xx
Maroc Telecom	$9B	$X.XB	$4B	X.Xx	X.Xx
Bharti Hexacom	$9B	$X.XB	$1B	X.Xx	X.Xx
OTE	$8B	$X.XB	$4B	X.Xx	X.Xx
Elisa	$8B	$X.XB	$3B	X.Xx	X.Xx
Globalstar	$8B	$X.XB	$279M	X.Xx	X.Xx
Zain Group	$8B	$X.XB	$8B	X.Xx	X.Xx
Liberty Broadband	$8B	$X.XB	$566M	X.Xx	X.Xx
Maxis	$8B	$X.XB	$3B	X.Xx	X.Xx
A1 Telekom Austria	$7B	$X.XB	$7B	X.Xx	X.Xx
Telefonica Deutschland	$7B	$X.XB	$9B	X.Xx	X.Xx
Telekom Malaysia	$7B	$X.XB	$3B	X.Xx	X.Xx
Lumen	$7B	$X.XB	$12B	X.Xx	X.Xx
Bezeq Group	$7B	$X.XB	$3B	X.Xx	X.Xx
MTN Ghana	$7B	$X.XB	$2B	X.Xx	X.Xx
SES	$6B	$X.XB	$3B	X.Xx	X.Xx
PCCW	$6B	$X.XB	$5B	X.Xx	X.Xx
Turkcell	$6B	$X.XB	$6B	X.Xx	X.Xx
United Internet	$6B	$X.XB	$7B	X.Xx	X.Xx
TPG Telecom	$5B	$X.XB	$4B	X.Xx	X.Xx
Zegona Communications	$5B	$X.XB	$4B	X.Xx	X.Xx
Axiata Group	$5B	$X.XB	$3B	X.Xx	X.Xx
Türk Telekom	$5B	$X.XB	$6B	X.Xx	X.Xx
TDS	$5B	$X.XB	$1B	X.Xx	X.Xx
Telecom Argentina	$5B	$X.XB	$6B	X.Xx	X.Xx
Tata Communications	$5B	$X.XB	$3B	X.Xx	X.Xx
LG U+	$5B	$X.XB	$10B	X.Xx	X.Xx
1&1	$5B	$X.XB	$5B	X.Xx	X.Xx
PLDT	$5B	$X.XB	$18B	X.Xx	X.Xx
Orange Polska	$5B	$X.XB	$4B	X.Xx	X.Xx
Sinnet Technology	$5B	$X.XB	$1B	X.Xx	X.Xx
Orange Côte d’Ivoire	$5B	$X.XB	—	X.Xx	X.Xx
Sunrise Communications	$5B	$X.XB	$4B	X.Xx	X.Xx
Sonae	$4B	$X.XB	$13B	X.Xx	X.Xx
Liberty Global	$4B	$X.XB	$5B	X.Xx	X.Xx
Globe Telecom	$4B	$X.XB	—	X.Xx	X.Xx
freenet	$4B	$X.XB	$3B	X.Xx	X.Xx
Hrvatski Telekom	$4B	$X.XB	$1B	X.Xx	X.Xx
VEON	$4B	$X.XB	$4B	X.Xx	X.Xx
PT XLSmart Telecom	$3B	$X.XB	$3B	X.Xx	X.Xx
Megacable	$3B	$X.XB	$2B	X.Xx	X.Xx
Jiangsu Broadcasting	$3B	$X.XB	—	X.Xx	X.Xx
NOS	$3B	$X.XB	$2B	X.Xx	X.Xx
NetLink NBN	$3B	$X.XB	$325M	X.Xx	X.Xx
Digi Communications	$3B	$X.XB	$3B	X.Xx	X.Xx
Omantel	$3B	$X.XB	$9B	X.Xx	X.Xx
Axtel	$3B	$X.XB	$717M	X.Xx	X.Xx
Merit Interactive	$3B	$X.XB	—	X.Xx	X.Xx
Vodafone Qatar	$3B	$X.XB	$958M	X.Xx	X.Xx
Time Dotcom	$3B	$X.XB	$466M	X.Xx	X.Xx
Grameenphone	$3B	$X.XB	$1B	X.Xx	X.Xx
Kyivstar Group	$3B	$X.XB	$1B	X.Xx	X.Xx
Zain Saudi Arabia	$3B	$X.XB	$3B	X.Xx	X.Xx
Sonatel	$3B	$X.XB	$4B	X.Xx	X.Xx
Proximus	$3B	$X.XB	$7B	X.Xx	X.Xx
Telecom Egypt	$3B	$X.XB	$2B	X.Xx	X.Xx
Iridium	$3B	$X.XB	$874M	X.Xx	X.Xx
Fujian Star-Net	$3B	$X.XB	$3B	X.Xx	X.Xx
Ooredoo	$2B	$X.XB	$3B	X.Xx	X.Xx
Spark New Zealand	$2B	$X.XB	$2B	X.Xx	X.Xx
Tuas	$2B	$X.XB	$135M	X.Xx	X.Xx
Chorus	$2B	$X.XB	$591M	X.Xx	X.Xx
Wasu Media Holding	$2B	$X.XB	—	X.Xx	X.Xx
Cogeco Communications	$2B	$X.XB	$2B	X.Xx	X.Xx
Partner Communications Co.	$2B	$X.XB	$1B	X.Xx	X.Xx
Vtech	$2B	$X.XB	$2B	X.Xx	X.Xx
stc Kuwait	$2B	$X.XB	$1B	X.Xx	X.Xx
Space42	$2B	$X.XB	—	X.Xx	X.Xx
Beyon	$2B	$X.XB	—	X.Xx	X.Xx
Okinawa Cellular	$2B	$X.XB	$545M	X.Xx	X.Xx
CITIC Guoan Information	$2B	$X.XB	—	X.Xx	X.Xx
Jishi Media	$2B	$X.XB	—	X.Xx	X.Xx
Telkom South Africa	$2B	$X.XB	$3B	X.Xx	X.Xx
Cellcom Israel	$2B	$X.XB	—	X.Xx	X.Xx
Cyfrowy Polsat	$2B	$X.XB	$4B	X.Xx	X.Xx
GMO Internet group	$2B	$X.XB	$2B	X.Xx	X.Xx
Converge ICT	$2B	$X.XB	—	X.Xx	X.Xx
Liberty Latin America	$2B	$X.XB	$4B	X.Xx	X.Xx
Guizhou Broadcasting & TV	$2B	$X.XB	—	X.Xx	X.Xx
Beijing Gehua CATV	$2B	$X.XB	$355M	X.Xx	X.Xx
Orange Belgium	$2B	$X.XB	$2B	X.Xx	X.Xx
Guangdong South New Media	$2B	$X.XB	$240M	X.Xx	X.Xx
Televisa	$1B	$X.XB	$3B	X.Xx	X.Xx
Telecom Plus	$1B	$X.XB	$3B	X.Xx	X.Xx
StarHub	$1B	$X.XB	$2B	X.Xx	X.Xx
HKBN	$1B	$X.XB	$1B	X.Xx	X.Xx
Telia Lietuva	$1B	$X.XB	—	X.Xx	X.Xx
GMO internet	$1B	$X.XB	$510M	X.Xx	X.Xx
IDT	$1B	$X.XB	$1B	X.Xx	X.Xx
Entel	$1B	$X.XB	$3B	X.Xx	X.Xx
Jefferson Capital	$1B	$X.XB	$630M	X.Xx	X.Xx
CITIC Telecom International	$1B	$X.XB	$1B	X.Xx	X.Xx
Macquarie Technology Group	$1B	$X.XB	$261M	X.Xx	X.Xx
Cogent Communications	$1B	$X.XB	$977M	X.Xx	X.Xx
Pakistan Telecom	$1B	$X.XB	—	X.Xx	X.Xx
Gamma Communications	$1B	$X.XB	$868M	X.Xx	X.Xx
RailTel Corporation	$1B	$X.XB	—	X.Xx	X.Xx
Nepal Telecom	$1B	$X.XB	—	X.Xx	X.Xx
Shenzhen Topway Video	$1B	$X.XB	—	X.Xx	X.Xx
Superloop	$1B	$X.XB	$433M	X.Xx	X.Xx
Sonaecom	$1B	$X.XB	—	X.Xx	X.Xx
Aussie Broadband	$1B	$X.XB	$874M	X.Xx	X.Xx
Dialog Axiata	$981M	$X.XB	$590M	X.Xx	X.Xx
Jordan Telecom	$945M	$X.XB	—	X.Xx	X.Xx
Hubei Radio & Television	$914M	$X.XB	—	X.Xx	X.Xx
Tata Teleservices	$884M	$X.XB	—	X.Xx	X.Xx
Cablevision Holding	$874M	$X.XB	—	X.Xx	X.Xx
Sterlite Technologies	$839M	$X.XB	$492M	X.Xx	X.Xx
Makedonski Telekom	$817M	$X.XB	—	X.Xx	X.Xx
Chief Telecom	$799M	$X.XB	—	X.Xx	X.Xx
Comba Telecom	$792M	$X.XB	—	X.Xx	X.Xx
Mobile TeleSystems	$787M	$X.XB	—	X.Xx	X.Xx
Telekom Slovenije	$783M	$X.XB	—	X.Xx	X.Xx
Etihad GO Telecom	$779M	$X.XB	—	X.Xx	X.Xx
Shentel	$766M	$X.XB	$362M	X.Xx	X.Xx
SmarTone	$738M	$X.XB	$802M	X.Xx	X.Xx
Hutchison	$732M	$X.XB	—	X.Xx	X.Xx
Ovzon	$700M	$X.XB	$89M	X.Xx	X.Xx
Optimum Communications	$687M	$X.XB	$9B	X.Xx	X.Xx
LINK Mobility Group	$625M	$X.XB	$780M	X.Xx	X.Xx
Ooredoo Oman	$623M	$X.XB	$629M	X.Xx	X.Xx
Bahnhof	$602M	$X.XB	—	X.Xx	X.Xx
Tele Columbus	$578M	$X.XB	—	X.Xx	X.Xx
IndoInternet	$572M	$X.XB	—	X.Xx	X.Xx
Cable One	$570M	$X.XB	$1B	X.Xx	X.Xx
Cell C	$565M	$X.XB	—	X.Xx	X.Xx
SLTMobitel	$561M	$X.XB	—	X.Xx	X.Xx
Blu Label Unlimited Group	$551M	$X.XB	—	X.Xx	X.Xx
Almendral	$549M	$X.XB	—	X.Xx	X.Xx
Telefónica Chile	$511M	$X.XB	—	X.Xx	X.Xx
Cogeco	$503M	$X.XB	$2B	X.Xx	X.Xx
Shaanxi BC & TV Network	$478M	$X.XB	—	X.Xx	X.Xx
APSTAR	$462M	$X.XB	—	X.Xx	X.Xx
ATN International	$457M	$X.XB	$730M	X.Xx	X.Xx
Vision	$409M	$X.XB	$256M	X.Xx	X.Xx
Kinx	$402M	$X.XB	—	X.Xx	X.Xx
Unifique Telecom	$399M	$X.XB	$234M	X.Xx	X.Xx
Balitower	$357M	$X.XB	—	X.Xx	X.Xx
ONATEL Burkina Faso	$350M	$X.XB	—	X.Xx	X.Xx
Ooredoo Palestine	$346M	$X.XB	—	X.Xx	X.Xx
Desktop Sigmanet	$314M	$X.XB	$248M	X.Xx	X.Xx
Jasmine International	$303M	$X.XB	$114M	X.Xx	X.Xx
GO plc	$296M	$X.XB	—	X.Xx	X.Xx
Brisanet	$268M	$X.XB	$344M	X.Xx	X.Xx
Sky Network Television	$266M	$X.XB	$463M	X.Xx	X.Xx
Hyundai Futurenet	$255M	$X.XB	—	X.Xx	X.Xx
Telebrás	$250M	$X.XB	—	X.Xx	X.Xx
Dafeng TV	$227M	$X.XB	—	X.Xx	X.Xx
Sudatel Telecom Group Limited	$221M	$X.XB	—	X.Xx	X.Xx
Bangladesh Submarine Cables	$219M	$X.XB	—	X.Xx	X.Xx
FreeBit	$213M	$X.XB	$387M	X.Xx	X.Xx
Hathway	$204M	$X.XB	—	X.Xx	X.Xx
Tucows	$198M	$X.XB	$390M	X.Xx	X.Xx
LICT	$193M	$X.XB	—	X.Xx	X.Xx
Crexendo	$180M	$X.XB	$76M	X.Xx	X.Xx
Mahanagar Telephone Nigam	$173M	$X.XB	—	X.Xx	X.Xx
Intred	$170M	$X.XB	$67M	X.Xx	X.Xx
Eltel	$151M	$X.XB	$968M	X.Xx	X.Xx
Den Networks	$143M	$X.XB	—	X.Xx	X.Xx
Asian Pay Television	$133M	$X.XB	—	X.Xx	X.Xx
Wasko	$124M	$X.XB	—	X.Xx	X.Xx
Zain Bahrain	$119M	$X.XB	—	X.Xx	X.Xx
Unidata	$113M	$X.XB	$131M	X.Xx	X.Xx
MNC Vision Networks	$110M	$X.XB	—	X.Xx	X.Xx
Broadmedia	$97M	$X.XB	$99M	X.Xx	X.Xx
Teleste	$77M	$X.XB	$167M	X.Xx	X.Xx
GTPL Hathway	$72M	$X.XB	—	X.Xx	X.Xx
PHarol SGPS	$71M	$X.XB	—	X.Xx	X.Xx
NFON	$65M	$X.XB	$106M	X.Xx	X.Xx
uCloudlink	$63M	$X.XB	$87M	X.Xx	X.Xx
FingerMotion	$63M	$X.XB	—	X.Xx	X.Xx
OnMobile Global	$58M	$X.XB	—	X.Xx	X.Xx
Parlem Telecom Companyia	$52M	$X.XB	—	X.Xx	X.Xx
Dish TV India	$51M	$X.XB	—	X.Xx	X.Xx
ET Bogotá	$48M	$X.XB	—	X.Xx	X.Xx
Tessellis	$38M	$X.XB	—	X.Xx	X.Xx
Ecotel	$36M	$X.XB	$144M	X.Xx	X.Xx
Planetel	$32M	$X.XB	—	X.Xx	X.Xx
Optare Solutions	$30M	$X.XB	—	X.Xx	X.Xx
Eurotel	$30M	$X.XB	—	X.Xx	X.Xx
Transtema Group	$26M	$X.XB	$274M	X.Xx	X.Xx
UTStarcom	$23M	$X.XB	—	X.Xx	X.Xx
Lleidanetworks	$22M	$X.XB	—	X.Xx	X.Xx
Softlab	$18M	$X.XB	—	X.Xx	X.Xx
Korbank	$17M	$X.XB	—	X.Xx	X.Xx
Convergenze	$15M	$X.XB	—	X.Xx	X.Xx
DG-Net	$14M	$X.XB	—	X.Xx	X.Xx
Telestrada	$13M	$X.XB	—	X.Xx	X.Xx
Oi	$13M	$X.XB	—	X.Xx	X.Xx
RichTech	$10M	$X.XB	—	X.Xx	X.Xx
ECL	$6M	$X.XB	—	X.Xx	X.Xx
Integratel Peru	$5M	$X.XB	—	X.Xx	X.Xx
Telgam	$5M	$X.XB	—	X.Xx	X.Xx
Weaccess Group	$3M	$X.XB	—	X.Xx	X.Xx
Telkonet	$3M	$X.XB	—	X.Xx	X.Xx
Telefonica Argentina	$2M	$X.XB	—	X.Xx	X.Xx
Nord General	$2M	$X.XB	—	X.Xx	X.Xx
Aiton Caldwell	$1M	$X.XB	—	X.Xx	X.Xx
My Beat	$299K	$X.XB	—	X.Xx	X.Xx
Siminn	—	$X.XB	—	X.Xx	X.Xx
Econet Wireless Zimbabwe	—	$X.XB	—	X.Xx	X.Xx
Syn	—	$X.XB	—	X.Xx	X.Xx
Nova Klubburinn	—	$X.XB	—	X.Xx	X.Xx