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Provides on-demand network connectivity (network-as-a-service) linking businesses to cloud providers like AWS, Azure and Google Cloud.
Provides on-demand network connectivity (network-as-a-service) linking businesses to cloud providers like AWS, Azure and Google Cloud.
Charges monthly for the ports and virtual connections customers set up, so revenue builds as customers add connections and live traffic keeps them in place; a self-service online portal keeps selling costs low. Its network inside third-party data centres, such as those of Equinix, is what it rents out.
In one line: A cloud-connectivity software-defined-networking provider.
Moat: narrow (network effects, switching costs). Embedded network connections across many data centers and cloud providers create switching costs.
Headquarters: Brisbane, Australia · Founded: 2013
Size Megaport (MP1.AX) is an Australia Information Technology company (Data Processing Services) with a market value of $2.80B, the 102nd largest of 316 Australia companies the cockpit tracks. Shares closed at A$17.06 on 6 Nov 2026.
Performance Over six months the shares gained 85.7%, against -30.4% for the median peer and +4.1% for the Australia market (cap-weighted) — highest of 19 in its peer set.
Growth Revenue grew 37.5% over the last twelve months (peer median +9.3%); the operating margin is -10.3% (peer median -1.2%).
Valuation It trades at 99.5× forward earnings against a peer median of 28.0× (3rd most expensive of 12).
Capital Return on invested capital runs 16.2 points below its cost of capital (12.8% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$312M | A$312M | A$227M | A$195M | A$153M |
| Revenue growth | — | +37% | +16% | +28% | — |
| Gross profit | A$9.59M | A$9.59M | A$24.4M | A$40.4M | A$6.10M |
| EBITDA | A$43.0M | A$43.0M | A$42.8M | A$42.0M | A$16.8M |
| Net income | -A$39.0M | -A$39.0M | -A$292,000 | A$9.61M | -A$9.77M |
| Free cash flow | -A$237M | -A$237M | A$45.1M | A$39.6M | -A$9.37M |
| Capital expenditure | A$331M | A$331M | A$34.3M | A$19.9M | A$32.8M |
| Total debt | n/a | A$100M | A$28.3M | A$15.8M | A$20.0M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Megaport MP1.AX | $2.80B | +86% | +37% | -10% | 99.5× | n/a |
| Equinix EQIX | $100B | -5% | +11% | 15% | 53.2× | n/a |
| Digital Realty DLR | $65.9B | -10% | +21% | 20% | 65.9× | n/a |
| Lumen Technologies LUMN | $4.12B | -59% | -8% | -3% | n/a | 5.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MP1.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.0% | -6.0% | 10th lowest of 21 |
| 6-month return | +85.7% | -30.4% | highest of 19 |
| Distance from 52-week high | -26.5% | -40.8% | 7th highest of 21 |
| Revenue growth (TTM) | +37.5% | +9.3% | 6th highest of 21 |
| Operating margin | -10.3% | -1.2% | 7th lowest of 21 |
| Forward P/E | 99.5× | 28.0× | 3rd most expensive of 12 |
| ROIC minus cost of capital | -16.2 pp | -7.5 pp | 5th lowest of 21 |
| EV / EBITDA | 86.3× | 17.0× | most expensive of 14 |
| Net debt / EBITDA | -7.8× | 0.8× | 4th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Megaport MP1.AX | Australia | $2.80B | +86% | +37% | -10% | 99.5× | n/a | n/a |
| Tgs TGS.OL | Norway | $2.73B | -13% | -30% | 12% | 16.3× | 5.5% | +36.2% |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 149.7× | 46.5% | -0.7% |
| Ionic Digital IOND | United States | $2.68B | n/a | -8% | -44% | 28.0× | n/a | n/a |
| Cipher Digital CIFR | United States | $2.99B | -68% | -29% | -172% | n/a | n/a | n/a |
| Kingsoft Cloud 3896.HK | Hong Kong | $2.54B | -47% | +35% | -3% | n/a | n/a | n/a |
| Sunevision 1686.HK | Hong Kong | $2.46B | -29% | +6% | 52% | 14.3× | 10.9% | +10.7% |
| Csquare CSQR | United States | $2.39B | n/a | +9% | 10% | n/a | n/a | n/a |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 5.8× | 3.2% | -6.5% |
| Kyndryl Holdings Incorporation KD | United States | $3.55B | +33% | -1% | 4% | 5.9× | 1.6% | -4.9% |
| Dentsu Soken 4812.T | Japan | $3.56B | +31% | +10% | 14% | 30.4× | 0.3% | +8.7% |
| JOYY, Inc. Sponsored ADR JOYY | United States | $3.98B | +37% | +8% | 2% | 12.9× | 19.8% | +2.1% |
| Shenzhen Xunce Technology 3317.HK | Hong Kong | $1.93B | -79% | +287% | -3% | 200.1× | n/a | n/a |
| GDS 9698.HK | Hong Kong | $4.22B | -52% | +13% | 17% | 36.8× | n/a | n/a |
| Applied Digital APLD | United States | $4.70B | -62% | +290% | -24% | n/a | n/a | n/a |
| Bitdeer Technologies BTDR | United States | $1.63B | -55% | +128% | -30% | n/a | n/a | n/a |
| ChronoScale CHRN | United States | $1.57B | -31% | +190% | -68% | n/a | n/a | n/a |
| JMDC 4483.T | Japan | $1.52B | +10% | +19% | 20% | 31.9× | 19.7% | +24.6% |
| Suncorporation 6736.T | Japan | $1.49B | +22% | -11% | 1% | n/a | n/a | n/a |
| HawkEye 360 HAWK | United States | $1.45B | -55% | +88% | -8% | n/a | n/a | n/a |
| Nextdc NXT.AX | Australia | $5.47B | -30% | +16% | -7% | n/a | n/a | n/a |