Digital Infrastructure

Analysis of valuation metrics and share price performance across global and regional digital infrastructure assets.

Venture Insights · Venture Insights1 May 2024Period: May 20243 min read

Last updated 10 June 2026

93.5%↑

Uniti Group (US) 12-month share price change

21.8x→

Nextdc Forward EV/Revenue Multiple

Locked

+1more stats

Companies covered:Uniti Group (US)Digital RealtyNextdcGlobal Data CentreDigitalBridgeMacquarie TelecomAdisynEquinixCogent CommunicationsChorus

Abstract

This report provides a comprehensive snapshot of the digital infrastructure sector as of May 2024, focusing on valuation metrics and share price performance for key global players. It highlights a significant performance gap, with Uniti Group (US) achieving a 93.5% 12-month share price increase while Chorus saw a 13.6% decline. The analysis utilizes EV/Revenue, EV/EBITDA, and EV/EBIT multiples to benchmark companies like Equinix, Nextdc, and Digital Realty against industry averages.

Key Takeaways

Uniti Group (US) outperformed the sector with a 93.5% share price increase over the last 12 months.
Nextdc and Equinix command the highest valuation premiums, with forward EV/Revenue multiples of 21.8x and 20.4x respectively.
The sector average EV/EBITDA multiple for FY25 is 23.1x, though individual companies like Equinix reach as high as 44.4x.

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Frequently Asked Questions

Data center specialists are commanding the highest premiums, with Nextdc and Equinix trading at forward EV/Revenue multiples of 21.8x and 20.4x respectively. These figures significantly outperform the peer group median forward EV/Revenue of 5.3x.

Performance is highly bifurcated, evidenced by a 107.1 percentage point gap between the top and bottom performers. Uniti Group (US) saw a 93.5% share price increase over the last 12 months, while Chorus experienced a 13.6% decline.

The average FY25 EV/EBITDA multiple for the sector is 23.1x. However, top-tier specialists like Equinix are trading at nearly double this average with an EV/EBITDA multiple of 44.4x.

Diversified holdings and smaller players represent the lower end of the spectrum, with DigitalBridge trading at 3.6x forward EV/Revenue. Adisyn currently holds the lowest valuation in the tracked group at a forward EV/Revenue multiple of 0.5x.

Digital Infrastructure

Abstract

Key Takeaways

Frequently Asked Questions

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