MTN Group Limited

MTN Group Limited

10.50
EUR
-0.10
(-0.94%)
22.72BMarket Cap
Mar 10Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
74.9
80.24
80.7
81.28
73.92
74.86
84.24
99.73
100.8
114.67
122.38
104.07
124.52
- -
Basic EPS, GAAP
14.6
17.52
11.09
-1.44
2.46
4.85
5.06
9.46
7.63
10.55
2.27
-5.19
11.13
- -
Free Cash Flow per Basic Share
-0.62
2.34
-10.37
-7.98
3.74
2.33
5.14
15.75
17.79
12.36
9.56
7.88
19.58
- -
Dividend per Share
- -
- -
- -
- -
6.99
6.25
5.2
3.59
- -
3
3.3
3.3
3.42
- -
Book Value per Share
62.93
70.53
80.31
55.4
52.19
47.17
46.66
57.18
60.55
63.39
76.56
67.93
79.1
71.26
Tangible Book Value per Share
42.53
50.43
49.65
30.6
30.86
24.74
25.19
34.25
36.28
34.79
36.33
29.01
37.05
31.87
Basic Weighted Avg Shares
1,833
1,831
1,822
1,820
1,797
1,798
1,798
1,799
1,802
1,805
1,806
1,807
1,821
1,832
Sales/Revenue/Turnover
137,270
146,930
147,063
147,920
132,869
134,560
151,460
179,361
181,646
207,003
221,056
188,001
226,707
- -
Operating Margin (%)
29.01
29.78
24.96
17.02
13.13
16.54
20.46
24.04
25.06
27.85
22.03
20.31
28.16
- -
Depreciation Expense
19,278
21,513
23,293
25,736
23,767
24,358
32,458
35,651
34,640
34,618
42,268
35,576
39,024
- -
Net Income, GAAP
26,751
32,079
20,204
-2,614
4,416
8,719
9,100
17,022
13,750
19,037
4,092
-9,369
20,262
- -
Effective Tax Rate (%)
28.81
26.17
32.45
159.18
52.46
36.18
38.95
32.45
41.03
41.66
65.87
- -
42.22
- -
Profit Margin (%)
19.49
21.83
13.74
-1.77
3.32
6.48
6.01
9.49
7.57
9.2
1.85
-4.98
8.94
- -
Working Capital
18,589
22,837
5,913
2,952
-4,379
-18,406
-8,395
1,461
-1,258
-5,816
-18,965
-6,587
-11,814
-17,776
LT Debt
34,664
40,166
53,372
67,319
70,567
114,615
120,728
122,210
105,164
115,611
111,074
134,108
118,429
116,246
Total Equity
121,812
133,442
151,838
106,716
95,336
88,226
86,100
106,225
112,615
119,639
149,054
137,574
169,733
154,333
Return on Invested Capital (%)
18.93
19.97
11.13
-3.9
5.28
7.64
8.59
12.49
9.61
12.71
5.64
- -
11.46
- -
Return on Capital (%)
17.31
17.25
10.38
-3.54
4.49
6.72
7.28
10.35
7.44
9.1
3.83
- -
8.07
- -
Return on Common Equity (%)
25.16
26.19
14.7
-2.09
4.47
9.76
10.79
18.23
12.97
17.02
3.24
-7.18
15.14
- -

Capital Structure

ZAR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
ST Debt
21,027
28,293
28,334
LT Borrowings
62,515
52,619
51,423
LT Finance Leases
65,545
65,810
64,823
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,830
1,833
1,832
Market Capitalization
261,964
314,224
425,191

Working Capital

ZAR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
Total Current Assets
156,922
185,913
175,212
Cash, Cash Equivalents & STI
106,302
142,391
116,090
Accounts Receivable, Net
33,843
18,566
37,434
Inventories
- -
1,310
- -
Total Current Liabilities
168,629
197,727
192,988
Payables & Accruals
- -
- -
- -
ST Debt
21,027
28,293
28,334
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.56%
10.51%
23.38%
Free Cash Flow
21.28%
18.59%
150.31%
Net Income, GAAP
-89.75%
-140.9%
-316.27%
Sales/Revenue/Turnover
5.03%
5.53%
20.59%
Total Cash Common Dividend
- -
- -
4.56%

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
188,001
2025
- -
- -
226,707
2026
- -
- -
- -

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
-5.19
2025
- -
- -
11.13
2026
- -
- -
- -

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
3.3
2025
- -
- -
3.42
2026
- -
- -
- -

Company Description

CEO
Ralph Tendai Mupita
Full Time Employees
14,970
Sector
Communications
Industry
Wireless telecommunications
Address
Innovation Centre, 216 14th Avenue Fairland GT South Africa 2195
IPO Date
Aug 17, 1995
Website
mtn.com
Business
MTN Group Limited (JSE: MTN) is Africa's largest mobile network operator, providing voice, data, fintech, digital, enterprise, wholesale, and application programming interface (API) services to over 300 million customers across 16 countries primarily in Africa and the Middle East and North Africa (MENA) region. The company offers mobile network services including GSM, 3G, 4G/LTE, and 5G connectivity; fixed broadband and fibre solutions through its Bayobab digital infrastructure unit; mobile financial services via the MoMo platform; enterprise solutions such as cloud, cybersecurity, and connectivity for businesses; wholesale carrier services; and digital platforms like the Chenosis API marketplace and ayoba communication app. MTN operates in key markets including South Africa, Nigeria, Ghana, Uganda, Côte d’Ivoire, Cameroon, and others, targeting consumer, small-to-medium enterprise (SME), and large corporate customers with a focus on data adoption, financial inclusion, and digital infrastructure. Founded in 1994 and headquartered in Johannesburg, South Africa, MTN Group has evolved from its origins as M-Cell into a pan-African telecommunications leader listed on the Johannesburg Stock Exchange, with subsidiaries like Bayobab for fibre and subsea cable operations and investments in tower companies in select markets. The company maintains a 49% stake in MTN Irancell in Iran as its primary remaining MENA exposure following exits from Afghanistan, Syria, and Yemen. In recent developments, MTN announced a strategic and leadership restructuring in late 2025 to advance its Ambition 2025 plan, prioritizing three pillars—Connectivity (including home broadband enhancements), Fintech (shifting to a scalable digital-first model), and Digital Infrastructure (expanding for AI integration, data centres, and satellite partnerships)—while streamlining operations and executive roles effective January 2026. Bayobab achieved a milestone in the 2Africa subsea cable project and contributed to repairs on disrupted Africa Coast to Europe cables in 2024. MTN is exploring the potential resumption of acquisition talks for Telkom SA, valued at approximately $1.4 billion, and plans significant capital expenditure of R33-38 billion in fiscal 2025 to support network expansions, including low-cost 4G devices and 5G rollouts. These initiatives underscore MTN's focus on Africa's digital progress amid half-year revenue growth and profitability recovery in 2025.

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