FTTP valuation tracker 1H 2023

17 August 2023 | Research

Rupert Wood

Tracker | Excel | Fibre Infrastructure Strategies

"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



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.



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.



Enterprise value divided by the last 12 months' EBITDA.



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