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MTN Group Limited

JSE:MTN Stock Report

Market Cap: R257.3b

MTN Group (MTN) Stock Overview

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa. More details

MTN fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance0/6
Financial Health3/6
Dividends1/6

Rewards

Trading at 33.6% below our estimate of its fair value

Earnings are forecast to grow 69.85% per year

Trading at good value compared to peers and industry

Risk Analysis

No risks detected for MTN from our risk checks.

MTN Community Fair Values

Create Narrative

See what 81 others think this stock is worth. Follow their fair value or set your own to get alerts.

MTN logo
MTN Group
AN
AnalystLowTarget
Consensus Narrative from 10 Analysts

Geopolitical Instability And Rising Costs Will Hamper Prospects

Key Takeaways Geopolitical instability, currency devaluation, and regulatory headwinds pose major risks to MTN's cash flow, earnings, and ability to reinvest for growth. Intensifying competition and commoditization of core services are compressing margins and hindering long-term revenue and profit expansion.
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R73.00
FV
95.1% overvalued intrinsic discount
11.05%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
6 days ago author updated this narrative
MTN logo
MTN Group
AN
AnalystHighTarget
Consensus Narrative from 10 Analysts

Africa's Urbanization And Digital Adoption Will Ignite Fintech Expansion

Key Takeaways Accelerating digital infrastructure and financial inclusion in Africa will boost average revenue per user and drive significant non-voice revenue and margin expansion for MTN. MTN's integrated fintech and data services strategy, partnerships, and advanced platforms position it to outpace competitors and establish itself as a leading digital ecosystem provider.
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R220.00
FV
35.3% undervalued intrinsic discount
18.60%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
6 days ago author updated this narrative
MTN logo
MTN Group
AN
AnalystConsensusTarget
Consensus Narrative from 10 Analysts

Fintech Expansion And Cost Efficiencies Will Strengthen African Telecom Prospects

Key Takeaways Strong data and Fintech growth positions MTN to enhance service revenue and net margins in Africa's expanding market. Strategic focus on key markets and efficiency programs should streamline operations and boost profitability.
View narrative
R131.64
FV
8.2% overvalued intrinsic discount
11.56%
Revenue growth p.a.
1users have liked this narrative
0users have commented on this narrative
46users have followed this narrative
6 days ago author updated this narrative
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MTN Group Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for MTN Group
Historical stock prices
Current Share PriceR142.44
52 Week HighR143.69
52 Week LowR70.43
Beta0.95
1 Month Change9.45%
3 Month Change36.96%
1 Year Change73.41%
3 Year Change0.81%
5 Year Change141.42%
Change since IPO8,039.43%

Recent News & Updates

Should Shareholders Reconsider MTN Group Limited's (JSE:MTN) CEO Compensation Package?

May 22
Should Shareholders Reconsider MTN Group Limited's (JSE:MTN) CEO Compensation Package?

Here's Why MTN Group (JSE:MTN) Has A Meaningful Debt Burden

May 01
Here's Why MTN Group (JSE:MTN) Has A Meaningful Debt Burden

Is Now The Time To Look At Buying MTN Group Limited (JSE:MTN)?

Apr 08
Is Now The Time To Look At Buying MTN Group Limited (JSE:MTN)?

Recent updates

Should Shareholders Reconsider MTN Group Limited's (JSE:MTN) CEO Compensation Package?

May 22
Should Shareholders Reconsider MTN Group Limited's (JSE:MTN) CEO Compensation Package?

Here's Why MTN Group (JSE:MTN) Has A Meaningful Debt Burden

May 01
Here's Why MTN Group (JSE:MTN) Has A Meaningful Debt Burden

Is Now The Time To Look At Buying MTN Group Limited (JSE:MTN)?

Apr 08
Is Now The Time To Look At Buying MTN Group Limited (JSE:MTN)?
author-image

Localization Progress In Uganda And Ghana Will Unlock Future Earnings

Strong growth in data and fintech services could positively impact MTN's revenue and boost net margins through high-margin products.

Even With A 28% Surge, Cautious Investors Are Not Rewarding MTN Group Limited's (JSE:MTN) Performance Completely

Jan 31
Even With A 28% Surge, Cautious Investors Are Not Rewarding MTN Group Limited's (JSE:MTN) Performance Completely

Potential Upside For MTN Group Limited (JSE:MTN) Not Without Risk

Dec 07
Potential Upside For MTN Group Limited (JSE:MTN) Not Without Risk

MTN Group's (JSE:MTN) Returns On Capital Are Heading Higher

Nov 15
MTN Group's (JSE:MTN) Returns On Capital Are Heading Higher

MTN Group (JSE:MTN) Use Of Debt Could Be Considered Risky

Sep 13
MTN Group (JSE:MTN) Use Of Debt Could Be Considered Risky

MTN Group Limited (JSE:MTN) Screens Well But There Might Be A Catch

Aug 22
MTN Group Limited (JSE:MTN) Screens Well But There Might Be A Catch

Should You Think About Buying MTN Group Limited (JSE:MTN) Now?

Aug 01
Should You Think About Buying MTN Group Limited (JSE:MTN) Now?

Shareholder Returns

MTNZA Wireless TelecomZA Market
7D0.3%0.9%0.3%
1Y73.4%52.7%18.7%

Return vs Industry: MTN exceeded the ZA Wireless Telecom industry which returned 52.7% over the past year.

Return vs Market: MTN exceeded the ZA Market which returned 18.7% over the past year.

Price Volatility

Is MTN's price volatile compared to industry and market?
MTN volatility
MTN Average Weekly Movement4.6%
Wireless Telecom Industry Average Movement3.8%
Market Average Movement4.9%
10% most volatile stocks in ZA Market10.4%
10% least volatile stocks in ZA Market3.1%

Stable Share Price: MTN has not had significant price volatility in the past 3 months compared to the ZA market.

Volatility Over Time: MTN's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1994n/aRalph Mupitawww.mtn.com

MTN Group Limited, together with its subsidiaries, provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa. The company offers data, voice and SMS, interconnect, and roaming services; and sells mobile devices. It also provides digital and fintech services, such as value-added services, rich media services, MTN Mobile Money, insurance, airtime lending, and e-commerce services.

MTN Group Limited Fundamentals Summary

How do MTN Group's earnings and revenue compare to its market cap?
MTN fundamental statistics
Market capR257.33b
Earnings (TTM)-R9.59b
Revenue (TTM)R188.59b
1.4x
P/S Ratio
-26.8x
P/E Ratio

Is MTN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MTN income statement (TTM)
RevenueR188.59b
Cost of RevenueR70.75b
Gross ProfitR117.84b
Other ExpensesR127.43b
Earnings-R9.59b

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

n/a

Earnings per share (EPS)-5.31
Gross Margin62.49%
Net Profit Margin-5.09%
Debt/Equity Ratio60.1%

How did MTN perform over the long term?

See historical performance and comparison

Dividends

2.4%
Current Dividend Yield
-65%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/08 01:39
End of Day Share Price 2025/07/08 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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 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 Github.

Analyst Sources

MTN Group Limited is covered by 26 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jonathan BradleyAbsa Bank Limited
Niel VenterAbsa Bank Limited
Sameera CassimAfrifocus Securities (Pty) Ltd.