Top Communication Services Stocks by EBITDA
Top communication services companies ranked by EBITDA, latest annual filings.
What EBITDA Means for Communication Services Companies
EBITDA is earnings before interest, taxes, depreciation, and amortization, a view of operating profit before financing and accounting decisions. In communication services the metric is central because the sector mixes capital-heavy carriers, content producers with large amortization from acquired programming and catalogs, and ad-supported platforms with lighter asset bases. EBITDA is often the common language that lets these very different business models be benchmarked on operating performance.
Why It Matters in Communication Services
Telecom carriers carry deep network investments, so EBITDA strips out the accounting of past spend and exposes ongoing operating margin on the subscriber base. Media companies amortize content over its expected useful life, producing large non-cash charges that EBITDA ignores. That makes the figure flattering when content replenishment is active, since the amortization being added back corresponds to ongoing production and licensing spend the business cannot stop without impairing the library.
What to Read Alongside
Pair EBITDA with Free Cash Flow to see the cash that remains after network capex and ongoing content spend, Net Income for the fully-loaded view, and Debt given the sector's typical leverage levels.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc. | Communication Services | $150.73B | $3.49T |
| 2 | META | Meta Platforms, Inc. | Communication Services | $101.89B | $1.56T |
| 3 | VZ | Verizon Communications Inc. | Communication Services | $47.61B | $189.37B |
| 4 | T | AT&T Inc. | Communication Services | $45.05B | $145.71B |
| 5 | CMCSA | Comcast Corporation | Communication Services | $36.88B | $86.61B |
| 6 | TMUS | T-Mobile US, Inc. | Communication Services | $31.79B | $171.61B |
| 7 | DIS | The Walt Disney Company | Communication Services | $22.88B | $201.59B |
| 8 | CHTR | Charter Communications, Inc. | Communication Services | $21.59B | $13.51B |
| 9 | VOD | Vodafone Group Public Limited Company | Communication Services | $17.62B | $36.10B |
| 10 | NFLX | Netflix, Inc. | Communication Services | $13.66B | $260.38B |
| 11 | RCI | Rogers Communications Inc. | Communication Services | $10.66B | $18.01B |
| 12 | NTES | NetEase, Inc. | Communication Services | $5.45B | $82.89B |
| 13 | TU | TELUS Corporation | Communication Services | $4.68B | $14.35B |
| 14 | VIV | Telefônica Brasil S.A. | Communication Services | $4.53B | $18.26B |
| 15 | APP | AppLovin Corporation | Communication Services | $4.35B | $129.62B |
| 16 | TLK | Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk | Communication Services | $4.30B | $10.95B |
| 17 | SKM | SK Telecom Co., Ltd. | Communication Services | $3.21B | $11.99B |
| 18 | TIGO | Millicom International Cellular S.A. | Communication Services | $2.92B | $13.96B |
| 19 | TIMB | TIM S.A. | Communication Services | $2.45B | $8.62B |
| 20 | VSNT | Versant Media Group, Inc. | Communication Services | $2.28B | $4.61B |
| 21 | VEON | VEON Ltd. | Communication Services | $2.25B | $5.34B |
| 22 | TME | Tencent Music Entertainment Group | Communication Services | $2.11B | $15.58B |
| 23 | LUMN | Lumen Technologies, Inc. | Communication Services | $1.94B | $4.11B |
| 24 | SIRI | Sirius XM Holdings Inc. | Communication Services | $1.89B | $10.90B |
| 25 | LYV | Live Nation Entertainment, Inc. | Communication Services | $1.89B | $41.31B |
| 26 | PHI | PLDT Inc. | Communication Services | $1.86B | $3.95B |
| 27 | TEO | Telecom Argentina S.A. | Communication Services | $1.73B | $4.29B |
| 28 | TKO | TKO Group Holdings, Inc. | Communication Services | $1.32B | $36.15B |
| 29 | NXST | Nexstar Media Group, Inc. | Communication Services | $1.32B | $5.86B |
| 30 | TV | Grupo Televisa, S.A.B. | Communication Services | $1.19B | $1.24B |
| 31 | WMG | Warner Music Group Corp. | Communication Services | $1.07B | $16.37B |
| 32 | LBTYA | Liberty Global Ltd. | Communication Services | $1.02B | $3.29B |
| 33 | LILA | Liberty Latin America Ltd. | Communication Services | $1.01B | $1.66B |
| 34 | FWONA | Formula One Group | Communication Services | $970.00M | $25.32B |
| 35 | MTCH | Match Group, Inc | Communication Services | $939.64M | $8.88B |
| 36 | PSO | Pearson plc | Communication Services | $738.24M | $10.38B |
| 37 | OMC | Omnicom Group Inc. | Communication Services | $721.40M | $23.70B |
| 38 | TTD | The Trade Desk, Inc. | Communication Services | $705.11M | $6.11B |
| 39 | GTN | Gray Media, Inc. | Communication Services | $629.00M | $506.68M |
| 40 | WB | Weibo Corporation | Communication Services | $523.91M | $1.60B |
| 41 | NYT | The New York Times Company | Communication Services | $516.56M | $10.93B |
| 42 | KYIV | Kyivstar Group Ltd. | Communication Services | $487.00M | $2.95B |
| 43 | RDDT | Reddit, Inc. | Communication Services | $457.93M | $18.36B |
| 44 | BILI | Bilibili Inc. | Communication Services | $450.53M | $5.86B |
| 45 | IRDM | Iridium Communications Inc. | Communication Services | $446.19M | $4.67B |
| 46 | BZ | Kanzhun Limited | Communication Services | $430.98M | $7.73B |
| 47 | SBGI | Sinclair, Inc. | Communication Services | $422.00M | $990.23M |
| 48 | WLY | John Wiley & Sons, Inc. | Communication Services | $420.34M | $2.55B |
| 49 | ZD | Ziff Davis, Inc. | Communication Services | $411.78M | $1.70B |
| 50 | PINS | Pinterest, Inc. | Communication Services | $345.03M | $10.87B |
| 51 | STGW | Stagwell Inc. | Communication Services | $330.25M | $2.89B |
| 52 | CRTO | Criteo S.A. | Communication Services | $325.06M | $758.89M |
| 53 | AMC | AMC Entertainment Holdings, Inc. | Communication Services | $296.00M | $2.80B |
| 54 | CARG | CarGurus, Inc. | Communication Services | $272.79M | $3.01B |
| 55 | YELP | Yelp Inc. | Communication Services | $234.61M | $1.06B |
| 56 | Z | Zillow Group, Inc. | Communication Services | $230.00M | $6.66B |
| 57 | PLTK | Playtika Holding Corp. | Communication Services | $229.70M | $933.73M |
| 58 | BIDU | Baidu, Inc. | Communication Services | $225.51M | $27.87B |
| 59 | TDS | Telephone and Data Systems, Inc. | Communication Services | $206.01M | $3.78B |
| 60 | MOMO | Hello Group Inc. | Communication Services | $205.40M | $660.72M |
| 61 | MSGE | Madison Square Garden Entertainment Corp. | Communication Services | $197.60M | $3.65B |
| 62 | GOGO | Gogo Inc. | Communication Services | $174.36M | $526.45M |
| 63 | UPWK | Upwork Inc. | Communication Services | $155.02M | $1.26B |
| 64 | CARS | Cars.com Inc. | Communication Services | $152.09M | $695.21M |
| 65 | MGNI | Magnite, Inc. | Communication Services | $151.28M | $3.93B |
| 66 | JOYY | JOYY Inc. | Communication Services | $148.95M | $3.96B |
| 67 | IMAX | IMAX Corporation | Communication Services | $146.68M | $2.61B |
| 68 | IDT | IDT Corporation | Communication Services | $142.56M | $2.04B |
| 69 | ATHM | Autohome Inc. | Communication Services | $136.41M | $2.63B |
| 70 | DV | DoubleVerify Holdings, Inc. | Communication Services | $135.78M | $2.12B |
| 71 | DDI | DoubleDown Interactive Co., Ltd. | Communication Services | $134.41M | $672.94M |
| 72 | NRDS | NerdWallet, Inc. | Communication Services | $111.60M | $500.20M |
| 73 | OPRA | Opera Limited | Communication Services | $108.93M | $1.31B |
| 74 | SIFY | Sify Technologies Limited | Communication Services | $108.69M | $940.93M |
| 75 | SPHR | Sphere Entertainment Co. | Communication Services | $106.85M | $4.35B |
| 76 | SHEN | Shenandoah Telecommunications Company | Communication Services | $106.44M | $534.28M |
| 77 | GSAT | Globalstar, Inc. | Communication Services | $98.23M | $10.93B |
| 78 | NEXN | Nexxen International Ltd. | Communication Services | $95.57M | $503.45M |
| 79 | ATEX | Anterix Inc. | Communication Services | $94.39M | $1.46B |
| 80 | TTWO | Take-Two Interactive Software, Inc. | Communication Services | $94.30M | $40.18B |
| 81 | MCS | The Marcus Corporation | Communication Services | $87.25M | $832.01M |
| 82 | TBLA | Taboola.com Ltd. | Communication Services | $73.30M | $532.55M |
| 83 | RSVR | Reservoir Media, Inc. | Communication Services | $69.01M | $673.98M |
| 84 | SCHL | Scholastic Corporation | Communication Services | $62.70M | $684.83M |
| 85 | EVER | EverQuote, Inc. | Communication Services | $62.15M | $1.02B |
| 86 | BATRA | Atlanta Braves Holdings, Inc. | Communication Services | $62.11M | $3.58B |
| 87 | QNST | QuinStreet, Inc. | Communication Services | $60.60M | $1.18B |
| 88 | IQ | iQIYI, Inc. | Communication Services | $52.57M | $926.33M |
| 89 | GRPN | Groupon, Inc. | Communication Services | $40.76M | $629.91M |
| 90 | ROKU | Roku, Inc. | Communication Services | $39.98M | $23.93B |
| 91 | PPLI | People Incorporated | Communication Services | $33.21M | $3.16B |
| 92 | MSGK | MSG Knickerbockers Corp. | Communication Services | $32.05M | $7.51B |
| 93 | MAX | MediaAlpha, Inc. | Communication Services | $25.37M | $840.69M |
No companies match this search.
How this ranking is built
Companies are ranked by EBITDA as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why do telecom carriers rely heavily on EBITDA?
Telecom operators invest large sums in wireless spectrum, fiber footprint, and network equipment, generating multi-year depreciation charges that weigh on reported operating income. EBITDA adds those back to reveal the underlying economics of serving the subscriber base, which is useful when comparing carriers with different buildout histories and leverage profiles. It is also a standard reference for debt covenants across the industry, reinforcing its role as the sector's primary operating metric.
How is content amortization typically framed for media companies?
Media firms capitalize content production and licensing costs, then amortize those costs over the expected revenue life of each title or series. EBITDA adds amortization back, which can make the metric look healthier than the ongoing business really is, because the company must keep producing or licensing new content to replace what is aging out. Reading EBITDA next to content investment and cash flow from operations offers a more grounded view.