Airtel Africa Plc

OTCPK:AAFR.F Stock Report

Market Cap: US$4.9b

Airtel Africa Valuation

Is AAFR.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AAFR.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AAFR.F ($1.25) is trading below our estimate of fair value ($5.29)

Significantly Below Fair Value: AAFR.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AAFR.F?

Key metric: As AAFR.F is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AAFR.F. This is calculated by dividing AAFR.F's market cap by their current revenue.
What is AAFR.F's PS Ratio?
PS Ratio1x
SalesUS$4.74b
Market CapUS$4.89b

Price to Sales Ratio vs Peers

How does AAFR.F's PS Ratio compare to its peers?

The above table shows the PS ratio for AAFR.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.9x
USM United States Cellular
1.4x0.7%US$5.3b
TIGO Millicom International Cellular
0.7x2.0%US$4.2b
TDS Telephone and Data Systems
0.8x-1.8%US$3.9b
VEON VEON
0.7x7.5%US$2.8b
AAFR.F Airtel Africa
1x12.6%US$3.9b

Price-To-Sales vs Peers: AAFR.F is expensive based on its Price-To-Sales Ratio (1x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does AAFR.F's PS Ratio compare vs other companies in the US Wireless Telecom Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
KORE KORE Group Holdings
0.08x4.8%US$22.62m
TIOG Tingo Group
0.001xn/aUS$2.52m
No more companies available in this PS range
AAFR.F 1.0xIndustry Avg. 1.3xNo. of Companies2PS00.61.21.82.43+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AAFR.F is good value based on its Price-To-Sales Ratio (1x) compared to the Global Wireless Telecom industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

What is AAFR.F's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AAFR.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate AAFR.F's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AAFR.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.25
US$1.71
+37.0%
20.0%US$2.54US$1.33n/a9
Dec ’25US$1.25
US$1.71
+36.5%
20.1%US$2.53US$1.33n/a9
Nov ’25US$1.37
US$1.78
+30.3%
17.9%US$2.60US$1.54n/a9
Oct ’25US$1.58
US$1.81
+14.5%
17.5%US$2.61US$1.57n/a9
Sep ’25US$1.55
US$1.80
+16.4%
16.9%US$2.61US$1.57n/a9
Aug ’25US$1.39
US$1.82
+31.3%
15.7%US$2.58US$1.56n/a10
Jul ’25US$1.65
US$1.75
+6.3%
18.3%US$2.53US$1.31n/a10
Jun ’25US$1.69
US$1.69
-0.2%
11.7%US$2.02US$1.31n/a10
May ’25US$1.54
US$1.67
+8.3%
14.7%US$2.02US$1.18n/a10
Apr ’25US$1.21
US$1.67
+38.0%
15.1%US$2.02US$1.18n/a10
Mar ’25US$1.20
US$1.78
+48.6%
21.6%US$2.67US$1.18n/a10
Feb ’25US$1.39
US$1.94
+39.7%
16.2%US$2.67US$1.61n/a10
Jan ’25US$1.66
US$1.98
+19.6%
17.1%US$2.66US$1.61n/a8
Dec ’24US$1.42
US$1.95
+38.1%
16.5%US$2.66US$1.61US$1.258
Nov ’24US$1.42
US$1.93
+35.7%
15.5%US$2.55US$1.61US$1.378
Oct ’24n/a
US$1.98
0%
15.6%US$2.58US$1.61US$1.588
Sep ’24US$1.45
US$2.09
+44.2%
37.6%US$3.92US$0.96US$1.558
Aug ’24US$1.45
US$2.04
+41.0%
38.9%US$3.92US$0.96US$1.398
Jul ’24US$1.37
US$2.03
+48.3%
36.3%US$3.84US$0.96US$1.659
Jun ’24US$1.46
US$2.06
+41.3%
35.7%US$3.82US$0.90US$1.699
May ’24US$1.36
US$2.06
+51.8%
34.7%US$3.77US$0.90US$1.549
Apr ’24US$1.29
US$2.06
+59.7%
34.8%US$3.77US$0.90US$1.219
Mar ’24n/a
US$2.07
0%
33.0%US$3.68US$0.90US$1.209
Feb ’24US$1.45
US$2.06
+42.0%
34.6%US$3.75US$0.86US$1.399
Jan ’24US$1.31
US$2.03
+55.3%
34.8%US$3.74US$0.86US$1.669
Dec ’23US$1.50
US$2.01
+33.8%
34.6%US$3.54US$0.86US$1.428

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 13:41
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

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 world class team 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 .

Analyst Sources

Airtel Africa Plc is covered by 17 analysts. 11 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
Maurice PatrickBarclays
Cesar TironBofA Global Research