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Airtel Africa Valuation Multiples

Discover revenue and EBITDA valuation multiples for Airtel Africa and similar public comparables like e&, Space42, and Jordan Telecom.

Airtel Africa Overview

About Airtel Africa

Airtel Africa PLC is engaged in providing affordable and inventive mobile services. The principal activities of the company primarily consist of the provision of telecommunications and mobile money services. The company's segment includes Nigeria mobile services; East Africa mobile services; Francophone Africa mobile services; Mobile money and others. It generates maximum revenue from the Nigeria mobile services segment. Nigeria's mobile services segment comprises mobile service operations in Nigeria.


Founded

2018

HQ

United Kingdom of Great Britain and Northern Ireland
Employees

4.1K+

Financials

LTM Revenue $3.8B

LTM EBITDA $1.8B

EV

$12.4B

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Airtel Africa Financials

Airtel Africa has a last 12-month revenue of $3.8B and a last 12-month EBITDA of $1.8B.

In the most recent fiscal year, Airtel Africa achieved revenue of $6.4B and an EBITDA of $1.5B.

Airtel Africa expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Airtel Africa P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $6.8B $6.4B XXX XXX XXX
Gross Profit $3.9B $4.2B XXX XXX XXX
Gross Margin 57% 66% XXX XXX XXX
EBITDA $2.9B $1.5B XXX XXX XXX
EBITDA Margin 42% 23% XXX XXX XXX
Net Profit $813M $854M XXX XXX XXX
Net Margin 12% 13% XXX XXX XXX
Net Debt $2.1B $2.0B XXX XXX XXX

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Airtel Africa Stock Performance

As of April 15, 2025, Airtel Africa's stock price is GBP 2 (or $2).

Airtel Africa has current market cap of GBP 5.6B (or $7.3B), and EV of GBP 9.6B (or $12.4B).

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Airtel Africa Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$12.4B $7.3B XXX XXX XXX XXX $0.08

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Airtel Africa Valuation Multiples

As of April 15, 2025, Airtel Africa has market cap of $7.3B and EV of $12.4B.

Airtel Africa's trades at 2.5x LTM EV/Revenue multiple, and 5.4x LTM EBITDA.

Analysts estimate Airtel Africa's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Airtel Africa Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $12.4B XXX XXX XXX
EV/Revenue 2.3x XXX XXX XXX
EV/EBITDA 6.0x XXX XXX XXX
P/E 57.3x XXX XXX XXX
P/E/Growth 0.4x XXX XXX XXX
EV/FCF 12.5x XXX XXX XXX

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Airtel Africa Valuation Multiples

Airtel Africa's NTM/LTM revenue growth is 17%

Airtel Africa's revenue per employee for the last fiscal year averaged $1.6M, while opex per employee averaged $0.6M for the same period.

Over next 12 months, Airtel Africa's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Airtel Africa's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Airtel Africa Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -5% XXX XXX XXX XXX
EBITDA Margin 39% XXX XXX XXX XXX
EBITDA Growth -48% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 56% XXX XXX XXX XXX
Revenue per Employee $1.6M XXX XXX XXX XXX
Opex per Employee $0.6M XXX XXX XXX XXX
S&M Expenses to Revenue 12% XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 37% XXX XXX XXX XXX

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Airtel Africa Public Comps

See public comps and valuation multiples for Telecom Service Providers and Internet Service Providers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
e& XXX XXX XXX XXX XXX XXX
Space42 XXX XXX XXX XXX XXX XXX
Jordan Telecom XXX XXX XXX XXX XXX XXX
KPN XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Airtel Africa M&A and Investment Activity

Airtel Africa acquired  XXX companies to date.

Last acquisition by Airtel Africa was  XXXXXXXX, XXXXX XXXXX XXXXXX . Airtel Africa acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Airtel Africa

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Airtel Africa

When was Airtel Africa founded? Airtel Africa was founded in 2018.
Where is Airtel Africa headquartered? Airtel Africa is headquartered in United Kingdom of Great Britain and Northern Ireland.
How many employees does Airtel Africa have? As of today, Airtel Africa has 4.1K+ employees.
Who is the CEO of Airtel Africa? Airtel Africa's CEO is Mr. Sunil Kumar Taldar.
Is Airtel Africa publicy listed? Yes, Airtel Africa is a public company listed on LON.
What is the stock symbol of Airtel Africa? Airtel Africa trades under AAF ticker.
When did Airtel Africa go public? Airtel Africa went public in 2019.
Who are competitors of Airtel Africa? Similar companies to Airtel Africa include e.g. , e&, Space42, Jordan Telecom.
What is the current market cap of Airtel Africa? Airtel Africa's current market cap is $7.3B
What is the current revenue of Airtel Africa? Airtel Africa's last 12-month revenue is $3.8B.
What is the current EBITDA of Airtel Africa? Airtel Africa's last 12-month EBITDA is $1.8B.
What is the current EV/Revenue multiple of Airtel Africa? Current revenue multiple of Airtel Africa is 2.5x.
What is the current EV/EBITDA multiple of Airtel Africa? Current EBITDA multiple of Airtel Africa is 5.4x.
What is the current revenue growth of Airtel Africa? Airtel Africa revenue growth between 2023 and 2024 was -5%.
Is Airtel Africa profitable? Yes, Airtel Africa is EBITDA-positive (as of the last 12 months).

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