View ValuationMTN Uganda 향후 성장Future 기준 점검 1/6MTN Uganda의 수익이 증가할 것으로 예상됨입니다.핵심 정보n/a이익 성장률n/aEPS 성장률Telecom 이익 성장11.8%매출 성장률14.7%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트23 Apr 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent 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%).공시 • 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%).공시 • 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.이익 및 매출 성장 예측UGSE:MTNU - 애널리스트 향후 추정치 및 과거 재무 데이터 (UGX Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20285,494,841N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: MTNU 의 예상 수익 증가율이 절약률(15.1%)보다 높은지 판단하기에는 데이터가 부족합니다.수익 vs 시장: MTNU 의 수익이 UG 시장보다 빠르게 성장할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.고성장 수익: MTNU 의 수익이 향후 3년 동안 상당히 증가할 것으로 예상되는지 판단하기에는 데이터가 부족합니다.수익 대 시장: MTNU 의 수익(연간 14.7%)이 UG 시장(연간 8.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: MTNU 의 수익(연간 14.7%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: MTNU의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YTelecom 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 21:50종가2026/05/22 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스MTN Uganda Limited는 3명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Linet 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%).
공시 • 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%).
공시 • 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.