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
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 5/6 |
| Past Performance | 2/6 |
| Financial Health | 5/6 |
| Dividends | 2/6 |
Rewards
Risk Analysis
MTN passed our risk checks.
MTN Community Fair Values
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Analyst Price Targets
MTN Group Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | R219.20 |
| 52 Week High | R219.20 |
| 52 Week Low | R116.98 |
| Beta | 0.90 |
| 1 Month Change | 12.38% |
| 3 Month Change | 19.03% |
| 1 Year Change | 84.00% |
| 3 Year Change | 100.46% |
| 5 Year Change | 128.21% |
| Change since IPO | 12,425.71% |
Recent News & Updates
Narrative Update • Apr 29
MTN: Lower Discount Rate And Higher Margins Will Support Repriced Earnings Multiple
Narrative Update on MTN Group The analyst price target for MTN Group has been raised from ZAR230 to ZAR280, with analysts pointing to a lower discount rate, a higher projected profit margin of 20.64%, and a reduced future P/E assumption of 10.53 as key drivers of the revision. Analyst Commentary Bullish analysts initiating coverage on MTN Group with a positive stance are broadly aligned with the recent increase in the price target to ZAR280.
Narrative Update • Apr 15
MTN: Dividend Policy IHS Outcome And Margin Profile Will Shape Future Balance
The analyst fair value estimate for MTN Group has shifted from ZAR207.67 to ZAR216.25 as analysts factor in updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple following recent bullish research coverage. Analyst Commentary Recent research on MTN Group has shifted toward a more constructive tone, with bullish analysts updating their models and supporting a higher fair value estimate.Narrative Update • Apr 01
MTN: Dividend Policy IHS Decision And Margin Resilience Will Shape Future Balance
Analysts have nudged their fair value estimate for MTN Group to ZAR207.67 from ZAR200.00, citing updated assumptions that combine slightly softer revenue growth with higher profit margin expectations and a lower future P/E multiple. Analyst Commentary Recent commentary on MTN Group reflects a mix of optimism and caution around how the updated fair value estimate ties back to execution, profitability and the multiples investors might be willing to pay for the shares.Recent updates
Narrative Update • Apr 29
MTN: Lower Discount Rate And Higher Margins Will Support Repriced Earnings Multiple
Narrative Update on MTN Group The analyst price target for MTN Group has been raised from ZAR230 to ZAR280, with analysts pointing to a lower discount rate, a higher projected profit margin of 20.64%, and a reduced future P/E assumption of 10.53 as key drivers of the revision. Analyst Commentary Bullish analysts initiating coverage on MTN Group with a positive stance are broadly aligned with the recent increase in the price target to ZAR280.Narrative Update • Apr 15
MTN: Dividend Policy IHS Outcome And Margin Profile Will Shape Future Balance
The analyst fair value estimate for MTN Group has shifted from ZAR207.67 to ZAR216.25 as analysts factor in updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple following recent bullish research coverage. Analyst Commentary Recent research on MTN Group has shifted toward a more constructive tone, with bullish analysts updating their models and supporting a higher fair value estimate.Narrative Update • Apr 01
MTN: Dividend Policy IHS Decision And Margin Resilience Will Shape Future Balance
Analysts have nudged their fair value estimate for MTN Group to ZAR207.67 from ZAR200.00, citing updated assumptions that combine slightly softer revenue growth with higher profit margin expectations and a lower future P/E multiple. Analyst Commentary Recent commentary on MTN Group reflects a mix of optimism and caution around how the updated fair value estimate ties back to execution, profitability and the multiples investors might be willing to pay for the shares.Narrative Update • Mar 18
MTN: Dividend Policy IHS Outcome And Margins Will Shape Future Balance
Analysts have adjusted the MTN Group fair value estimate slightly higher, from ZAR 198.75 to ZAR 200.00, reflecting updated assumptions for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research updates on consumer and leisure names highlight how quickly sentiment can swing when earnings, forward guidance, or external operating conditions shift.Narrative Update • Mar 03
MTN: Margin Assumptions And Possible IHS Deal Will Shape Balanced Outlook
Analysts have nudged their fair value estimate for MTN Group up from ZAR193.63 to ZAR198.75, citing slightly stronger assumed profit margins and a modestly higher future P/E multiple as key supports for the higher price target. Analyst Commentary Recent valuation work on MTN Group points to a fairly balanced split between what bullish and bearish analysts are focusing on.Narrative Update • Feb 17
MTN: Leadership Reset And IHS Discussions Will Shape Balanced Execution Outlook
Narrative Update: MTN Group Price Target Revision Analysts have nudged their fair value estimate for MTN Group higher from ZAR190.11 to ZAR193.63. This reflects updated assumptions around a slightly lower discount rate, modestly adjusted revenue growth expectations, a stable profit margin outlook, and a small recalibration of the future P/E multiple.Narrative Update • Feb 03
MTN: Leadership Reset And Execution Risk Will Shape Balanced Brand Outlook
Narrative Update on MTN Group The analyst fair value estimate for MTN Group has been adjusted from $186.22 to $190.11. Analysts attribute this change to slightly higher assumed revenue growth, a modestly higher future P/E multiple, and recent external research that highlights the impact of leadership changes and execution expectations at Vail Resorts.Narrative Update • Jan 19
MTN: Leadership Reset And Brand Strength Will Shape Balanced Execution Outlook
Narrative Update Analysts have lifted their fair value estimate for MTN Group from R176.89 to R186.22, citing slightly higher projected revenue growth, a modestly lower profit margin profile, and an updated future P/E assumption of 11.49x that reflects recent sector research and valuation resets seen in wider leisure and consumer names. Analyst Commentary Recent Street research around MTN Group has focused less on near term trading updates and more on leadership changes, brand strength, and execution risk.
Narrative Update • Jan 05
MTN: Lower Future P/E And Leadership Changes Will Constrain Upside Potential
Analysts have slightly reduced their fair value estimate for MTN Group to $82.69 from $83.94, citing updated assumptions for faster revenue growth, higher profit margins, and a lower future P/E multiple following recent sector and leadership changes highlighted in Street research. Analyst Commentary Bearish analysts frame the reduced fair value estimate of $82.69 as a signal that MTN Group faces a thinner margin for execution, even with updated assumptions that factor in faster revenue growth and higher profit margins.Narrative Update • Dec 19
MTN: Leadership Reset Will Drive Future Turnaround Despite Near Term Execution Risks
Analysts have modestly lowered their price target on Vail Resorts to a range of about $145 to $237 per share. This reflects concerns over softer Epic pass sales, a more guarded fiscal 2026 EBITDA outlook, and uncertainty around the pace of the company’s operational turnaround.Analysis Article • Dec 12
Is It Too Late To Consider Buying MTN Group Limited (JSE:MTN)?
Today we're going to take a look at the well-established MTN Group Limited ( JSE:MTN ). The company's stock saw a...Narrative Update • Dec 05
MTN: Future Multiple Expansion Will Offset Margin And Leadership Execution Risks
Analysts have nudged their fair value estimate for MTN Group higher to approximately $176.89 from $172.50, citing a higher future P/E multiple despite slightly softer revenue growth assumptions and a notably lower projected profit margin. Analyst Commentary Recent Street research around Vail Resorts, which shares the MTN ticker in the U.S., offers a mixed backdrop that indirectly informs sentiment toward MTN Group.Analysis Article • Nov 24
MTN Group Limited's (JSE:MTN) Price Is Right But Growth Is Lacking
When close to half the companies operating in the Wireless Telecom industry in South Africa have price-to-sales ratios...Narrative Update • Nov 21
MTN: Future Leadership Changes And Operational Challenges Will Shape Performance
Analysts have raised their fair value estimate for MTN Group from $169.33 to $172.50, citing improved profit margin projections and stronger anticipated revenue growth. This comes despite recent concerns around leadership transitions and near-term operational challenges.Narrative Update • Sep 25
African Connectivity And Fintech Will Unlock Future Opportunities
Consensus revenue growth forecasts for MTN Group have risen significantly, but this has been offset by a lower net profit margin, resulting in only a marginal increase in the analyst price target from ZAR167.11 to ZAR169.33. What's in the News MTN CEO Ralph Mupita has publicly denied any ongoing talks or adviser engagement regarding an acquisition of Telkom SA, though industry speculation continues due to market dynamics.Analysis Article • Sep 12
Should You Think About Buying MTN Group Limited (JSE:MTN) Now?
MTN Group Limited ( JSE:MTN ) saw significant share price movement during recent months on the JSE, rising to highs of...Narrative Update • Aug 30
African Connectivity And Fintech Will Unlock Future Opportunities
The consensus price target for MTN Group has edged up to ZAR167.11, primarily reflecting a slight improvement in revenue growth forecasts. What's in the News MTN Group expects a first-half 2025 EPS of 495–577 cents, reflecting an increase of more than 200% from the prior year's loss.Analysis Article • Aug 25
MTN Group's (JSE:MTN) Strong Earnings Are Of Good Quality
Even though MTN Group Limited ( JSE:MTN ) posted strong earnings, investors appeared to be underwhelmed. Our analysis...Analysis Article • Aug 14
MTN Group Limited's (JSE:MTN) Subdued P/S Might Signal An Opportunity
With a median price-to-sales (or "P/S") ratio of close to 2x in the Wireless Telecom industry in South Africa, you...Analysis Article • May 22
Should Shareholders Reconsider MTN Group Limited's (JSE:MTN) CEO Compensation Package?
Key Insights MTN Group's Annual General Meeting to take place on 29th of May Total pay for CEO Ralph Mupita includes...
New Narrative • Feb 09
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.Shareholder Returns
| MTN | ZA Wireless Telecom | ZA Market | |
|---|---|---|---|
| 7D | 4.9% | 0.6% | 3.6% |
| 1Y | 84.0% | 170.0% | 27.6% |
Return vs Industry: MTN underperformed the ZA Wireless Telecom industry which returned 169.4% over the past year.
Return vs Market: MTN exceeded the ZA Market which returned 22.4% over the past year.
Price Volatility
| MTN volatility | |
|---|---|
| MTN Average Weekly Movement | 4.5% |
| Wireless Telecom Industry Average Movement | 4.3% |
| Market Average Movement | 4.9% |
| 10% most volatile stocks in ZA Market | 11.1% |
| 10% least volatile stocks in ZA Market | 3.3% |
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 (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1994 | n/a | Ralph Mupita | www.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, insurance, airtime lending, in-store payments, remittances, prepaid services, and e-commerce services; and MTN Mobile Money fintech platform.
MTN Group Limited Fundamentals Summary
| MTN fundamental statistics | |
|---|---|
| Market cap | R401.79b |
| Earnings (TTM) | R20.26b |
| Revenue (TTM) | R226.76b |
19.8x
P/E Ratio1.8x
P/S RatioIs MTN overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MTN income statement (TTM) | |
|---|---|
| Revenue | R226.76b |
| Cost of Revenue | R71.46b |
| Gross Profit | R155.29b |
| Other Expenses | R135.03b |
| Earnings | R20.26b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | 11.05 |
| Gross Margin | 68.48% |
| Net Profit Margin | 8.94% |
| Debt/Equity Ratio | 43.4% |
How did MTN perform over the long term?
See historical performance and comparisonDividends
2.3%
Current Dividend Yield45%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 06:06 |
| End of Day Share Price | 2026/05/06 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 19 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Niel Venter | Absa Bank Limited |
| Jonathan Bradley | Absa Bank Limited |
| Tibor Bokor | Arqaam Capital Research Offshore S.A.L. |