View ValuationMTN Uganda 将来の成長Future 基準チェック /16 MTN Ugandaは収益が増加すると予測されています。主要情報n/a収益成長率n/aEPS成長率Telecom 収益成長12.3%収益成長率14.7%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日23 Apr 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesUpcoming Dividend • May 20Upcoming dividend of USh8.50 per shareEligible shareholders must have bought the stock before 27 May 2026. Payment date: 19 June 2026. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 6.8%. Lower than top quartile of Ugandan dividend payers (10%). Higher than average of industry peers (4.9%).Reported Earnings • May 11First quarter 2026 earnings released: EPS: USh7.77 (vs USh8.10 in 1Q 2025)First quarter 2026 results: EPS: USh7.77 (down from USh8.10 in 1Q 2025). Revenue: USh914.5b (up 7.8% from 1Q 2025). Net income: USh174.0b (down 3.8% from 1Q 2025). Profit margin: 19% (down from 21% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • Mar 31Upcoming dividend of USh8.25 per shareEligible shareholders must have bought the stock before 07 April 2026. Payment date: 30 April 2026. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of Ugandan dividend payers (9.6%). Higher than average of industry peers (4.9%).お知らせ • Mar 19MTN Uganda Limited, Annual General Meeting, Apr 10, 2026MTN Uganda Limited, Annual General Meeting, Apr 10, 2026, at 10:00 E. Africa Standard Time. Location: will be held as a hybrid meeting comprising both, UgandaNew Risk • Mar 17New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 6.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (4.8% average weekly change).Reported Earnings • Mar 15Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: USh30.30 (up from USh28.66 in FY 2024). Revenue: USh3.61t (up 14% from FY 2024). Net income: USh678.8b (up 5.8% from FY 2024). Profit margin: 19% (down from 20% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 5.6%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth.Buy Or Sell Opportunity • Feb 19Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 46% to USh453. The fair value is estimated to be USh366, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 2.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (85% net debt to equity). Share price has been volatile over the past 3 months (2.9% average weekly change).Valuation Update With 7 Day Price Move • Feb 05Investor sentiment improves as stock rises 18%After last week's 18% share price gain to USh390, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Telecom industry in Africa. Total returns to shareholders of 197% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at USh364 per share.Upcoming Dividend • Nov 19Upcoming dividend of USh10.50 per shareEligible shareholders must have bought the stock before 26 November 2025. Payment date: 19 December 2025. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Ugandan dividend payers (9.9%). Higher than average of industry peers (3.5%).New Risk • Nov 15New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 85% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company.Reported Earnings • Nov 09Third quarter 2025 earnings released: EPS: USh9.06 (vs USh7.30 in 3Q 2024)Third quarter 2025 results: EPS: USh9.06 (up from USh7.30 in 3Q 2024). Revenue: USh931.8b (up 15% from 3Q 2024). Net income: USh204.2b (up 25% from 3Q 2024). Profit margin: 22% (up from 20% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 19% per year and the company’s share price has also increased by 19% per year.Upcoming Dividend • Aug 20Upcoming dividend of USh10.00 per shareEligible shareholders must have bought the stock before 27 August 2025. Payment date: 19 September 2025. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 8.3%. Lower than top quartile of Ugandan dividend payers (11%). Higher than average of industry peers (3.5%).New Risk • Aug 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 121% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 121% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (95% payout ratio).Reported Earnings • Aug 13Second quarter 2025 earnings released: EPS: USh3.82 (vs USh6.50 in 2Q 2024)Second quarter 2025 results: EPS: USh3.82 (down from USh6.50 in 2Q 2024). Revenue: USh876.4b (up 14% from 2Q 2024). Net income: USh86.1b (down 41% from 2Q 2024). Profit margin: 9.8% (down from 19% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 21Upcoming dividend of USh8.50 per shareEligible shareholders must have bought the stock before 28 May 2025. Payment date: 20 June 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 8.4%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (3.7%).お知らせ • Apr 25MTN Uganda Limited, Annual General Meeting, May 16, 2025MTN Uganda Limited, Annual General Meeting, May 16, 2025, at 10:00 E. Africa Standard Time. Location: as a hybrid meeting comprising both physical and, UgandaBuy Or Sell Opportunity • Mar 18Now 23% undervaluedOver the last 90 days, the stock has risen 1.6% to USh250. The fair value is estimated to be USh325, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 20%.New Risk • Mar 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.Reported Earnings • Mar 08Full year 2024 earnings released: EPS: USh28.65 (vs USh22.02 in FY 2023)Full year 2024 results: EPS: USh28.65 (up from USh22.02 in FY 2023). Revenue: USh3.17t (up 19% from FY 2023). Net income: USh641.5b (up 30% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Nov 15Upcoming dividend of USh7.50 per shareEligible shareholders must have bought the stock before 22 November 2024. Payment date: 16 December 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Ugandan dividend payers (12%). In line with average of industry peers (5.7%).New Risk • Nov 08New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 92% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (92% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.8% average weekly change).Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: USh7.30 (vs USh5.64 in 3Q 2023)Third quarter 2024 results: EPS: USh7.30 (up from USh5.64 in 3Q 2023). Revenue: USh808.7b (up 19% from 3Q 2023). Net income: USh163.7b (up 30% from 3Q 2023). Profit margin: 20% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Africa.New Risk • Sep 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 2.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.7% average weekly change).Upcoming Dividend • Aug 21Upcoming dividend of USh6.60 per shareEligible shareholders must have bought the stock before 28 August 2024. Payment date: 20 September 2024. Payout ratio and cash payout ratio are on the higher end at 76% and 76% respectively. Trailing yield: 10%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (6.0%).Reported Earnings • Aug 06First half 2024 earnings released: EPS: USh13.20 (vs USh10.19 in 1H 2023)First half 2024 results: EPS: USh13.20 (up from USh10.19 in 1H 2023). Revenue: USh1.52t (up 20% from 1H 2023). Net income: USh295.7b (up 30% from 1H 2023). Profit margin: 19% (up from 18% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Africa.Upcoming Dividend • May 23Upcoming dividend of USh6.40 per shareEligible shareholders must have bought the stock before 30 May 2024. Payment date: 21 June 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 11%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (6.3%).Reported Earnings • Apr 01Full year 2023 earnings released: EPS: USh22.02 (vs USh18.14 in FY 2022)Full year 2023 results: EPS: USh22.02 (up from USh18.14 in FY 2022). Revenue: USh2.67t (up 15% from FY 2022). Net income: USh493.1b (up 21% from FY 2022). Profit margin: 19% (up from 18% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Telecom industry in Africa.New Risk • Mar 07New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Dividend is not well covered by cash flows (170% cash payout ratio). Share price has been volatile over the past 3 months (1.8% average weekly change).Upcoming Dividend • Nov 21Upcoming dividend of USh6.00 per share at 7.0% yieldEligible shareholders must have bought the stock before 28 November 2023. Payment date: 22 December 2023. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Ugandan dividend payers (13%). Higher than average of industry peers (4.6%).New Risk • Nov 05New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 94% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (94% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: USh5.65 (vs USh4.43 in 3Q 2022)Third quarter 2023 results: EPS: USh5.65 (up from USh4.43 in 3Q 2022). Revenue: USh681.5b (up 16% from 3Q 2022). Net income: USh126.4b (up 28% from 3Q 2022). Profit margin: 19% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Telecom industry in Africa.Upcoming Dividend • Aug 22Upcoming dividend of USh5.60 per share at 6.6% yieldEligible shareholders must have bought the stock before 29 August 2023. Payment date: 22 September 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 6.6%. Lower than top quartile of Ugandan dividend payers (15%). Higher than average of industry peers (4.4%).Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: USh4.80 (vs USh4.16 in 2Q 2022)Second quarter 2023 results: EPS: USh4.80 (up from USh4.16 in 2Q 2022). Revenue: USh639.2b (up 15% from 2Q 2022). Net income: USh107.4b (up 15% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Telecom industry in Africa.Upcoming Dividend • May 22Upcoming dividend of USh5.50 per share at 9.6% yieldEligible shareholders must have bought the stock before 29 May 2023. Payment date: 26 June 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 9.6%. Lower than top quartile of Ugandan dividend payers (13%). Higher than average of industry peers (5.5%).Reported Earnings • Mar 11Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: USh18.14 (up from USh15.20 in FY 2021). Revenue: USh2.29t (up 11% from FY 2021). Net income: USh406.1b (up 19% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Africa.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Karabo Nondumo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: USh4.43. Net income: USh99.1b (up USh99.1b from 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Telecom industry in Africa.Reported Earnings • Mar 09Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: USh15.20. Revenue: USh2.06t (up 9.7% from FY 2020). Net income: USh340.4b (up 5.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Revenue was in line with analyst estimates.Reported Earnings • Mar 09Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: USh15.20. Revenue: USh2.06t (up 9.7% from FY 2020). Net income: USh340.4b (up 5.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Revenue was in line with analyst estimates.業績と収益の成長予測UGSE:MTNU - アナリストの将来予測と過去の財務データ ( )UGX Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20285,494,841N/AN/AN/A112/31/20274,826,615N/AN/AN/A112/31/20264,140,959N/AN/AN/A13/31/20263,673,703671,875992,1681,466,911N/A12/31/20253,607,168678,763886,6271,361,370N/A9/30/20253,498,145653,303827,0821,241,419N/A6/30/20253,375,008612,759905,2481,313,306N/A3/31/20253,271,058672,409708,1391,122,477N/A12/31/20243,173,599641,548722,8641,137,201N/A9/30/20243,053,232598,052578,643931,036N/A6/30/20242,926,041560,781530,745935,514N/A3/31/20242,792,765522,457649,6281,002,021N/A12/31/20232,670,256493,077608,581960,974N/A9/30/20232,554,106467,836681,4701,019,130N/A6/30/20232,489,452440,525465,368762,492N/A3/31/20232,376,104426,191687,7011,025,360N/A12/31/20222,317,051406,050549,705887,364N/A9/30/20222,235,778391,150437,773757,188N/A6/30/20222,160,525403,272549,071869,182N/A3/31/20222,112,516357,260472,748792,162N/A12/31/20212,060,087340,410574,374893,789N/A12/31/20201,877,799321,682-30,618585,956N/A12/31/20191,322,918154,931N/A584,170N/A12/31/20181,550,767219,527N/A452,286N/A12/31/20171,437,195152,664N/A442,278N/A12/31/20161,307,54096,331N/A112,833N/A12/31/20151,333,491176,814N/A326,862N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: MTNUの予測収益成長が 貯蓄率 ( 15.1% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: MTNUの収益がUG市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: MTNUの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: MTNUの収益 ( 14.7% ) UG市場 ( 8.7% ) よりも速いペースで成長すると予測されています。高い収益成長: MTNUの収益 ( 14.7% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: MTNUの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YTelecom 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/26 00:13終値2026/05/26 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋MTN Uganda Limited 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Linet MuriungiAbsa Bank LimitedTracy KivunyuSBG Securities (Proprietary) LimitedNadim MohamedSBG Securities (Proprietary) Limited
Upcoming Dividend • May 20Upcoming dividend of USh8.50 per shareEligible shareholders must have bought the stock before 27 May 2026. Payment date: 19 June 2026. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 6.8%. Lower than top quartile of Ugandan dividend payers (10%). Higher than average of industry peers (4.9%).
Reported Earnings • May 11First quarter 2026 earnings released: EPS: USh7.77 (vs USh8.10 in 1Q 2025)First quarter 2026 results: EPS: USh7.77 (down from USh8.10 in 1Q 2025). Revenue: USh914.5b (up 7.8% from 1Q 2025). Net income: USh174.0b (down 3.8% from 1Q 2025). Profit margin: 19% (down from 21% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • Mar 31Upcoming dividend of USh8.25 per shareEligible shareholders must have bought the stock before 07 April 2026. Payment date: 30 April 2026. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of Ugandan dividend payers (9.6%). Higher than average of industry peers (4.9%).
お知らせ • Mar 19MTN Uganda Limited, Annual General Meeting, Apr 10, 2026MTN Uganda Limited, Annual General Meeting, Apr 10, 2026, at 10:00 E. Africa Standard Time. Location: will be held as a hybrid meeting comprising both, Uganda
New Risk • Mar 17New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 95% Dividend yield: 6.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (95% payout ratio). Share price has been volatile over the past 3 months (4.8% average weekly change).
Reported Earnings • Mar 15Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2025 results: EPS: USh30.30 (up from USh28.66 in FY 2024). Revenue: USh3.61t (up 14% from FY 2024). Net income: USh678.8b (up 5.8% from FY 2024). Profit margin: 19% (down from 20% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 5.6%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth.
Buy Or Sell Opportunity • Feb 19Now 24% overvalued after recent price riseOver the last 90 days, the stock has risen 46% to USh453. The fair value is estimated to be USh366, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.
New Risk • Feb 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 2.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (85% net debt to equity). Share price has been volatile over the past 3 months (2.9% average weekly change).
Valuation Update With 7 Day Price Move • Feb 05Investor sentiment improves as stock rises 18%After last week's 18% share price gain to USh390, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Telecom industry in Africa. Total returns to shareholders of 197% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at USh364 per share.
Upcoming Dividend • Nov 19Upcoming dividend of USh10.50 per shareEligible shareholders must have bought the stock before 26 November 2025. Payment date: 19 December 2025. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of Ugandan dividend payers (9.9%). Higher than average of industry peers (3.5%).
New Risk • Nov 15New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 85% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company.
Reported Earnings • Nov 09Third quarter 2025 earnings released: EPS: USh9.06 (vs USh7.30 in 3Q 2024)Third quarter 2025 results: EPS: USh9.06 (up from USh7.30 in 3Q 2024). Revenue: USh931.8b (up 15% from 3Q 2024). Net income: USh204.2b (up 25% from 3Q 2024). Profit margin: 22% (up from 20% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 19% per year and the company’s share price has also increased by 19% per year.
Upcoming Dividend • Aug 20Upcoming dividend of USh10.00 per shareEligible shareholders must have bought the stock before 27 August 2025. Payment date: 19 September 2025. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 8.3%. Lower than top quartile of Ugandan dividend payers (11%). Higher than average of industry peers (3.5%).
New Risk • Aug 17New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 121% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 121% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (95% payout ratio).
Reported Earnings • Aug 13Second quarter 2025 earnings released: EPS: USh3.82 (vs USh6.50 in 2Q 2024)Second quarter 2025 results: EPS: USh3.82 (down from USh6.50 in 2Q 2024). Revenue: USh876.4b (up 14% from 2Q 2024). Net income: USh86.1b (down 41% from 2Q 2024). Profit margin: 9.8% (down from 19% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 21Upcoming dividend of USh8.50 per shareEligible shareholders must have bought the stock before 28 May 2025. Payment date: 20 June 2025. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 8.4%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (3.7%).
お知らせ • Apr 25MTN Uganda Limited, Annual General Meeting, May 16, 2025MTN Uganda Limited, Annual General Meeting, May 16, 2025, at 10:00 E. Africa Standard Time. Location: as a hybrid meeting comprising both physical and, Uganda
Buy Or Sell Opportunity • Mar 18Now 23% undervaluedOver the last 90 days, the stock has risen 1.6% to USh250. The fair value is estimated to be USh325, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 20%.
New Risk • Mar 09New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 3.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
Reported Earnings • Mar 08Full year 2024 earnings released: EPS: USh28.65 (vs USh22.02 in FY 2023)Full year 2024 results: EPS: USh28.65 (up from USh22.02 in FY 2023). Revenue: USh3.17t (up 19% from FY 2023). Net income: USh641.5b (up 30% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Telecom industry in Africa. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Nov 15Upcoming dividend of USh7.50 per shareEligible shareholders must have bought the stock before 22 November 2024. Payment date: 16 December 2024. Payout ratio is on the higher end at 77%, however this is supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Ugandan dividend payers (12%). In line with average of industry peers (5.7%).
New Risk • Nov 08New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 92% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (92% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.8% average weekly change).
Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: USh7.30 (vs USh5.64 in 3Q 2023)Third quarter 2024 results: EPS: USh7.30 (up from USh5.64 in 3Q 2023). Revenue: USh808.7b (up 19% from 3Q 2023). Net income: USh163.7b (up 30% from 3Q 2023). Profit margin: 20% (up from 19% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Telecom industry in Africa.
New Risk • Sep 24New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 2.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.7% average weekly change).
Upcoming Dividend • Aug 21Upcoming dividend of USh6.60 per shareEligible shareholders must have bought the stock before 28 August 2024. Payment date: 20 September 2024. Payout ratio and cash payout ratio are on the higher end at 76% and 76% respectively. Trailing yield: 10%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (6.0%).
Reported Earnings • Aug 06First half 2024 earnings released: EPS: USh13.20 (vs USh10.19 in 1H 2023)First half 2024 results: EPS: USh13.20 (up from USh10.19 in 1H 2023). Revenue: USh1.52t (up 20% from 1H 2023). Net income: USh295.7b (up 30% from 1H 2023). Profit margin: 19% (up from 18% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Africa.
Upcoming Dividend • May 23Upcoming dividend of USh6.40 per shareEligible shareholders must have bought the stock before 30 May 2024. Payment date: 21 June 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 11%. Lower than top quartile of Ugandan dividend payers (14%). Higher than average of industry peers (6.3%).
Reported Earnings • Apr 01Full year 2023 earnings released: EPS: USh22.02 (vs USh18.14 in FY 2022)Full year 2023 results: EPS: USh22.02 (up from USh18.14 in FY 2022). Revenue: USh2.67t (up 15% from FY 2022). Net income: USh493.1b (up 21% from FY 2022). Profit margin: 19% (up from 18% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Telecom industry in Africa.
New Risk • Mar 07New major risk - Earnings qualityThe company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Dividend is not well covered by cash flows (170% cash payout ratio). Share price has been volatile over the past 3 months (1.8% average weekly change).
Upcoming Dividend • Nov 21Upcoming dividend of USh6.00 per share at 7.0% yieldEligible shareholders must have bought the stock before 28 November 2023. Payment date: 22 December 2023. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Ugandan dividend payers (13%). Higher than average of industry peers (4.6%).
New Risk • Nov 05New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 94% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (94% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Nov 04Third quarter 2023 earnings released: EPS: USh5.65 (vs USh4.43 in 3Q 2022)Third quarter 2023 results: EPS: USh5.65 (up from USh4.43 in 3Q 2022). Revenue: USh681.5b (up 16% from 3Q 2022). Net income: USh126.4b (up 28% from 3Q 2022). Profit margin: 19% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Telecom industry in Africa.
Upcoming Dividend • Aug 22Upcoming dividend of USh5.60 per share at 6.6% yieldEligible shareholders must have bought the stock before 29 August 2023. Payment date: 22 September 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 6.6%. Lower than top quartile of Ugandan dividend payers (15%). Higher than average of industry peers (4.4%).
Reported Earnings • Aug 09Second quarter 2023 earnings released: EPS: USh4.80 (vs USh4.16 in 2Q 2022)Second quarter 2023 results: EPS: USh4.80 (up from USh4.16 in 2Q 2022). Revenue: USh639.2b (up 15% from 2Q 2022). Net income: USh107.4b (up 15% from 2Q 2022). Profit margin: 17% (in line with 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Telecom industry in Africa.
Upcoming Dividend • May 22Upcoming dividend of USh5.50 per share at 9.6% yieldEligible shareholders must have bought the stock before 29 May 2023. Payment date: 26 June 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 9.6%. Lower than top quartile of Ugandan dividend payers (13%). Higher than average of industry peers (5.5%).
Reported Earnings • Mar 11Full year 2022 earnings: EPS and revenues exceed analyst expectationsFull year 2022 results: EPS: USh18.14 (up from USh15.20 in FY 2021). Revenue: USh2.29t (up 11% from FY 2021). Net income: USh406.1b (up 19% from FY 2021). Profit margin: 18% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Telecom industry in Africa.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Karabo Nondumo was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: USh4.43. Net income: USh99.1b (up USh99.1b from 3Q 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Telecom industry in Africa.
Reported Earnings • Mar 09Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: USh15.20. Revenue: USh2.06t (up 9.7% from FY 2020). Net income: USh340.4b (up 5.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Revenue was in line with analyst estimates.
Reported Earnings • Mar 09Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: USh15.20. Revenue: USh2.06t (up 9.7% from FY 2020). Net income: USh340.4b (up 5.8% from FY 2020). Profit margin: 17% (in line with FY 2020). Revenue was in line with analyst estimates.