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Public Comps and Valuation Multiples for Telecom Service Providers

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

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Telecom Service Providers

Viewing 50 of 273 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
China Mobile	$239B	$209B	$153B	1.4x	4.2x
SoftBank Group	$216B	$330B	$50B	6.6x	6.7x
T-Mobile US	$207B	$325B	$91B	3.6x	9.2x
Verizon	$202B	$389B	$140B	2.8x	7.6x
AT&T	$176B	$312B	$127B	2.5x	6.6x
Deutsche Telekom	$165B	$315B	$141B	2.2x	5.9x
Bharti Airtel	$119B	$132B	$22B	5.9x	10.3x
Comcast	$90B	$175B	$123B	1.4x	4.9x
China Telecom	$80B	$71B	$77B	0.9x	3.4x
América Móvil	$79B	$117B	$55B	2.1x	5.4x
NTT Group	$79B	$164B	$92B	1.8x	7.3x
SoftBank	$67B	$96B	$45B	2.1x	8.0x
KDDI	$65B	$89B	$39B	2.3x	7.7x
Singtel	$59B	$65B	$11B	5.8x	21.5x
stc Group	$59B	$59B	$21B	2.8x	8.8x
Orange	$57B	$48B	$49B	1.0x	3.0x
Swisscom	$45B	$48B	$19B	2.5x	5.6x
e&	$44B	$53B	$20B	2.6x	6.0x
Telstra	$43B	$55B	$17B	3.3x	8.8x
Vodafone	$34B	$81B	$48B	1.7x	6.0x
Chunghwa Telecom	$34B	$33B	$8B	4.3x	11.6x
China Unicom	$31B	$26B	$57B	0.5x	1.8x
BT Group	$29B	$57B	$26B	2.2x	5.2x
Telefónica	$27B	$27B	$41B	0.7x	2.1x
MTN Group	$23B	$23B	$14B	1.6x	3.6x
BCE	$23B	$55B	$18B	3.1x	7.1x
Telenor	$23B	$27B	$8B	3.4x	7.5x
Telefônica Brasil	$22B	$24B	$12B	2.0x	4.9x
Bouygues	$22B	$32B	$67B	0.5x	5.3x
Telia	$21B	$29B	$9B	3.2x	8.2x
China Satellite	$21B	$20B	—	—	—
China United Network	$20B	$19B	$57B	0.3x	1.4x
KPN	$20B	$28B	$7B	4.0x	8.5x
Rogers	$20B	$51B	$16B	3.2x	7.1x
TELUS	$19B	$41B	$15B	2.7x	7.6x
Charter Communications	$18B	$114B	$55B	2.1x	5.1x
Vodacom	$18B	$22B	$11B	2.0x	5.2x
TIM	$18B	$31B	$16B	1.9x	5.8x
Airtel Africa	$16B	$22B	$7B	3.3x	6.7x
Telkom Indonesia	$16B	$19B	$8B	2.2x	4.4x
Vodafone Idea	$16B	$35B	$5B	7.4x	17.2x
True Corporation	$15B	$27B	$6B	4.5x	8.0x
SK Telecom	$14B	$20B	$12B	1.7x	6.0x
Tigo	$14B	$25B	$7B	3.7x	7.9x
du	$14B	$14B	$4B	3.1x	6.6x
Tele2	$14B	$16B	$3B	4.9x	11.0x
Mobily	$13B	$14B	$5B	2.7x	6.9x
MTN Nigeria	$13B	$14B	$4B	3.3x	6.0x
HKT Trust and HKT	$12B	$18B	$5B	3.8x	9.8x
Ooredoo Qatar	$12B	$13B	$7B	2.0x	4.6x
Far EasTone	$11B		$4B
Taiwan Mobile	$11B		$6B
Quebecor	$11B		$4B
Globalstar	$11B		$281M
TIM Brasil	$11B		$5B
Mobile TeleSystems	$10B		—
Lumen	$10B		$12B
Frontier Comms Parent Inc	$10B		$6B
Safaricom	$10B		$3B
Maroc Telecom	$9B		$4B
CelcomDigi	$9B		$3B
KT	$9B		$19B
OTE	$9B		$4B
Zain Group	$8B		$8B
Bharti Hexacom	$8B		$998M
SES	$8B		$3B
Elisa	$8B		$3B
MTN Ghana	$8B		$2B
Bezeq Group	$8B		$3B
A1 Telekom Austria	$8B		$7B
Magyar Telekom	$8B		$3B
Telekom Malaysia	$7B		$3B
Telefonica Deutschland	$7B		$9B
Maxis	$7B		$3B
PCCW	$6B		$5B
Tata Communications	$6B		$3B
Orange Polska	$6B		$4B
TPG Telecom	$6B		$4B
Zegona Communications	$6B		$4B
Telecom Argentina	$5B		$6B
United Internet	$5B		$7B
Iridium	$5B		$880M
Turkcell	$5B		$6B
Liberty Broadband	$5B		$566M
1&1	$5B		$5B
Türk Telekom	$5B		$6B
Orange Côte d’Ivoire	$5B		—
Axiata Group	$5B		$3B
LG U+	$5B		$10B
TDS	$4B		$1B
Sonae	$4B		$13B
PLDT	$4B		$19B
Globe Telecom	$4B		—
Sinnet Technology	$4B		$1B
Liberty Global	$4B		$5B
Sunrise Communications	$4B		$4B
VEON	$4B		$5B
Hrvatski Telekom	$4B		$1B
freenet	$4B		$3B
Kyivstar Group	$3B		$1B
Vodafone Qatar	$3B		$965M
Axtel	$3B		$727M
NOS	$3B		$2B
Ooredoo	$3B		$3B
NetLink NBN	$3B		$325M
Telecom Egypt	$3B		$2B
Megacable	$3B		$2B
Time Dotcom	$3B		$471M
Digi Communications	$3B		$3B
Omantel	$3B		$9B
PT XLSmart Telecom	$3B		$3B
Jiangsu Broadcasting	$3B		—
Fujian Star-Net	$3B		$3B
Sonatel	$3B		$4B
Grameenphone	$3B		$1B
Partner Communications Co.	$3B		$1B
Zain Saudi Arabia	$3B		$3B
Proximus	$3B		$7B
Chorus	$3B		$602M
Cyfrowy Polsat	$2B		$4B
Sterlite Technologies	$2B		$519M
Space42	$2B		—
Spark New Zealand	$2B		$2B
stc Kuwait	$2B		$1B
GMO Internet group	$2B		$2B
Cellcom Israel	$2B		—
Okinawa Cellular	$2B		$553M
Beyon	$2B		—
Cogeco Communications	$2B		$2B
Wasu Media Holding	$2B		—
CITIC Guoan Information	$2B		—
Telkom South Africa	$2B		$3B
Vtech	$2B		$2B
Orange Belgium	$2B		$2B
Liberty Latin America	$2B		$4B
Guizhou Broadcasting & TV	$2B		—
Merit Interactive	$2B		—
Beijing Gehua CATV	$2B		$345M
Televisa	$1B		$3B
Jishi Media	$1B		—
Telia Lietuva	$1B		—
Macquarie Technology Group	$1B		$273M
StarHub	$1B		$2B
IDT	$1B		$1B
HKBN	$1B		$1B
Converge ICT	$1B		—
CITIC Telecom International	$1B		$1B
Superloop	$1B		$461M
Entel	$1B		$3B
Guangdong South New Media	$1B		$239M
Gamma Communications	$1B		$874M
GMO internet	$1B		$508M
Telecom Plus	$1B		$3B
Aussie Broadband	$1B		$918M
Pakistan Telecom	$1B		—
RailTel Corporation	$1B		$460M
Nepal Telecom	$1B		—
Telekom Slovenije	$1B		—
Sonaecom	$1B		—
Jordan Telecom	$1B		—
Paltel Group	$991M		$411M
Cablevision Holding	$977M		—
Kazakhtelecom	$960M		—
Jefferson Capital	$957M		$644M
Dialog Axiata	$924M		$582M
Cogent Communications	$910M		$971M
Tuas	$904M		$139M
Chief Telecom	$887M		—
Shentel	$879M		$364M
Tata Teleservices	$861M		—
Etihad GO Telecom	$850M		—
LINK Mobility Group	$838M		$806M
Makedonski Telekom	$818M		—
Shenzhen Topway Video	$814M		—
Ovzon	$786M		$92M
Hutchison	$701M		—
SmarTone	$690M		$802M
Bahnhof	$615M		—
Telefónica Chile	$568M		—
Ooredoo Oman	$567M		$630M
IndoInternet	$547M		—
Cell C	$540M		—
Comba Telecom	$536M		—
SLTMobitel	$529M		—
Almendral	$523M		—
Unifique Telecom	$495M		$244M
Blu Label Unlimited Group	$484M		—
Cogeco	$444M		$2B
ATN International	$421M		$730M
Shaanxi BC & TV Network	$419M		—
Desktop Sigmanet	$400M		$257M
APSTAR	$384M		—
Kinx	$370M		—
Tele Columbus	$354M		—
ONATEL Burkina Faso	$343M		—
Ooredoo Palestine	$330M		—
Integratel Peru	$330M		—
Vision	$315M		$257M
Optimum Communications	$315M		$8B
Crexendo	$311M		$80M
Cable One	$297M		$1B
GO plc	$292M		—
Jasmine International	$287M		$109M
Balitower	$278M		—
Sky Network Television	$251M		$476M
Brisanet	$244M		$360M
Sudatel Telecom Group Limited	$240M		—
Telebrás	$237M		—
Dafeng TV	$224M		—
Bangladesh Submarine Cables	$220M		—
Hyundai Futurenet	$215M		—
Eltel	$194M		$983M
Mahanagar Telephone Nigam	$192M		—
FreeBit	$188M		$391M
Hathway	$188M		—
Wasko	$178M		—
LICT	$169M		—
Tucows	$168M		$390M
Intred	$166M		$67M
Den Networks	$134M		—
Asian Pay Television	$121M		—
Zain Bahrain	$113M		—
Unidata	$95M		$131M
Broadmedia	$88M		$99M
MNC Vision Networks	$84M		—
Teleste	$80M		$166M
GTPL Hathway	$79M		—
PHarol SGPS	$71M		—
Dish TV India	$67M		—
Moon	$65M		—
NFON	$60M		$105M
OnMobile Global	$56M		—
ET Bogotá	$48M		—
FingerMotion	$48M		—
uCloudlink	$38M		$85M
Tessellis	$38M		—
Ecotel	$32M		$145M
Optare Solutions	$30M		—
Eurotel	$29M		—
Planetel	$28M		—
Reliance Communications	$26M		—
UTStarcom	$25M		—
Softlab	$24M		—
Swoop Holdings	$21M		—
ESTaid	$20M		—
Transtema Group	$20M		$268M
Lleidanetworks	$19M		—
Parlem Telecom Companyia	$19M		$57M
DG-Net	$16M		—
5G Networks	$15M		—
Korbank	$14M		—
Convergenze	$14M		—
Telestrada	$13M		—
RichTech	$9M		—
Oi	$9M		—
Weaccess Group	$5M		—
Telgam	$4M		—
Telkonet	$3M		—
Telefonica Argentina	$2M		—
ECL	$2M		—
Nord General	$1M		—
Sanwire	$1M		—
Pervasip	$1M		—
Aiton Caldwell	$876K		—
Icoa	$603K		—
My Beat	$530K		—
Strategic Management	$142K		—
MegaFon	—		—
Syn	—		—
Nova Klubburinn	—		—
Magyar Telekom	—		—
Siminn	—		—
Econet Wireless Zimbabwe	—		—