Safaricom PLC

NASE:SCOM Stock Report

Market Cap: KSh1.4t

Safaricom Past Earnings Performance

Past criteria checks 5/6

Safaricom has been growing earnings at an average annual rate of 3.8%, while the Wireless Telecom industry saw earnings growing at 11.7% annually. Revenues have been growing at an average rate of 9.3% per year. Safaricom's return on equity is 31.9%, and it has net margins of 22.6%.

Key information

3.81%

Earnings growth rate

3.96%

EPS growth rate

Wireless Telecom Industry Growth13.03%
Revenue growth rate9.26%
Return on equity31.91%
Net Margin22.56%
Next Earnings Update05 Nov 2026

Recent past performance updates

Recent updates

Narrative Update • Sep 17

SCOM: Increased Vodafone Stake Will Support Stronger Long Term Earnings Power

Analysts have raised their Safaricom price target from KES 45.00 to KES 50.00, citing updated assumptions that include a lower discount rate, higher forecast revenue growth, slightly stronger profit margins and a marginally higher future P/E multiple. What’s in the News for Safaricom No recent Safaricom specific news items were available from the provided primary sources as of 17 Sep 2026.
Narrative Update • Sep 03

SCOM: Higher Margins And Stable P/E Will Support Earnings Profile

Analysts have raised their Safaricom price target from KES 40.22 to KES 41.79 as they factor in updated assumptions for revenue growth, profit margins and future P/E expectations. What’s in the News for Safaricom No recent Safaricom specific news items have been identified in the primary feeds as of 1 Sep 2026.
Narrative Update • Aug 07

SCOM: Lower Discount Rate And Higher Future P/E Will Support Earnings Profile

Analysts have lifted the Safaricom fair value estimate to KES 40.22 from KES 38.46, citing an adjusted discount rate and updated assumptions on revenue growth, profit margin and future P/E as the key drivers of the new price target. What’s in the News for Safaricom No recent Safaricom specific news items were available from the provided primary or secondary sources as at 6 Aug 2026.
Narrative Update • Jul 24

SCOM: Higher Margins And Ownership Shift Will Support Balanced Return Outlook

Analysts have lifted their Safaricom price target from KES 24.80 to KES 34.30, citing updated assumptions that combine slightly lower revenue growth expectations with higher projected profit margins and a modestly higher future P/E multiple. What's in the News for Safaricom Vodafone Kenya Limited agreed to acquire an additional 15% stake in Safaricom from the Government of Kenya for cash consideration of KES 204 billion, valuing the 20% economic interest in Safaricom at KES 34 per share.
Narrative Update • Jul 10

SCOM: Increased Vodafone Stake Will Support Stronger Long Term Earnings Power

Analysts have raised their fair value estimate for Safaricom from KES 43.00 to KES 45.00, citing updated assumptions that include slightly lower discount rates, modestly stronger revenue growth, a marginally higher profit margin outlook, and a reduced future P/E multiple. What's in the News for Safaricom Vodafone Kenya Limited agreed to acquire an additional 15% stake in Safaricom from the Government of Kenya for cash consideration of KES 204b, valuing the 20% economic interest in Safaricom at the equivalent of KES 34 per share.
Narrative Update • Jun 26

SCOM: Higher Margin Outlook Will Support Stronger Future Earnings Profile

Analysts have raised their KES fair value estimate for Safaricom to approximately KES 38.46 from about KES 33.31, reflecting updated assumptions that include a slightly lower discount rate, a revised revenue growth outlook, a higher profit margin profile, and a future P/E of roughly 19.80. What's in the News for Safaricom No recent Safaricom specific news items or periodical coverage are available in the provided sources as of 24 Jun 2026.
New Narrative • Feb 14

Safaricom: Why I'm Holding Long

If you're investing in the Nairobi Securities Exchange and don't own Safaricom, you need to seriously rethink your portfolio. This isn't hype — it's the closest thing we have to a blue-chip monopoly on the NSE, and the numbers back it up.

Revenue & Expenses Breakdown

How Safaricom makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NASE:SCOM Revenue, expenses and earnings (KES Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 26423,86695,6093,7020
31 Dec 25411,91590,0356,3730
30 Sep 25399,96584,46211,5800
30 Jun 25392,59977,13012,6200
31 Mar 25385,23369,79911,1250
31 Dec 24377,97963,37210,7120
30 Sep 24370,72656,94410,2990
30 Jun 24358,34559,9689,4070
31 Mar 24345,96362,9928,5140
31 Dec 23332,57662,977-6,7230
30 Sep 23319,18962,961-21,9600
30 Jun 23313,75162,615-7,8390
31 Mar 23308,31362,2696,2820
31 Dec 22304,98764,1099,2450
30 Sep 22301,66165,94812,2080
30 Jun 22298,74967,7988,1920
31 Mar 22295,83869,6484,1770
31 Dec 21289,76171,2134,8640
30 Sep 21283,68572,7795,5500
30 Jun 21272,81570,7275,1400
31 Mar 21261,94568,6764,7310
31 Dec 20259,52770,1043,6680
30 Sep 20257,10971,5322,6060
30 Jun 20259,80472,5952,9030
31 Mar 20262,49973,6583,1990
31 Dec 19260,01970,087-10,1970
30 Sep 19257,37966,5162,2270
30 Jun 19253,75164,5033,7420
31 Mar 19250,12362,4915,2570
31 Dec 18246,21661,37519,3820
30 Sep 18242,44960,2595,3080
30 Jun 18238,32957,7744,4630
31 Mar 18234,20955,2893,6180
31 Dec 17230,90453,00324,0030
30 Sep 17227,60050,7146,5780
30 Jun 17221,44049,5794,8580
31 Mar 17215,27848,4443,1380
31 Dec 16208,01646,198-6,9880
30 Sep 16200,75943,9542,3860
30 Jun 16198,32541,0292,3860
31 Mar 16195,89038,1042,3860
31 Dec 15188,81536,672-6,6500
30 Sep 15181,74035,240-15,6050

Quality Earnings: SCOM has high quality earnings.

Growing Profit Margin: SCOM's current net profit margins (22.6%) are higher than last year (18.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SCOM's earnings have grown by 3.8% per year over the past 5 years.

Accelerating Growth: SCOM's earnings growth over the past year (37%) exceeds its 5-year average (3.8% per year).

Earnings vs Industry: SCOM earnings growth over the past year (37%) did not outperform the Wireless Telecom industry 47.2%.

Return on Equity

High ROE: SCOM's Return on Equity (31.9%) is considered high.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/19 19:59
End of Day Share Price 2026/09/18 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Safaricom PLC is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Linet MuriungiAbsa Bank Limited
Sarah WangaAIB-AXYS Africa Limited
null nullAIB-AXYS Africa Limited