FTTP valuation tracker 1H 2024
"Valuations for FTTP (both actual and planned) remain high, although the volume of deals fell away significantly in 2022."
Analysys Mason's FTTP valuation tracker provides regular updates on FTTP-related mergers, acquisitions and carve-outs. It benchmarks FTTP and similar businesses on the key metrics of valuation per premises passed and per premises connected.
Data coverage
| Metric | Description | |
|---|---|---|
|
FTTP |
|
Fibre to the premises. Access where fibre runs all of the way to the subscriber premises. The definition excludes hybrids such as fibre to the building that use copper in the indoor network. |
|
HFC |
|
Hybrid fibre coax (for example, cable TV networks). |
|
Copper lines |
|
Lines in active use, including lines for fibre–copper hybrids such as FTTC. Figures exclude unused or abandoned copper lines. |
|
Premises passed |
|
Premises that can be connected to the fibre network within 30 days and which would not require signficant additional capex. |
|
Active connections |
|
A subset of premises passed, where the premises has been connected and supports an active service. |
|
Total premises built |
|
The sum of FTTP premises passed, HFC premises passed and active copper lines. |
|
Enterprise value |
|
Market capitalisation and total debt. Alternatively implied valuation from the value of the equity stake at the time of the transaction. |
|
EV/EBITDA |
|
Enterprise value divided by the last 12 months' EBITDA. |
Author
Rupert Wood
Research Director, expert in infrastructure, fixed networks and wholesaleRelated items
Article
Challenger operators in Western Europe have passed 115 million premises with FTTP, but have overbuilt
Article
Developed Asia–Pacific has 87 active submarine cables and this figure will increase by 51% by 2027
Article
Government change in the USA threatens FTTP operators with the loss of billions of dollars