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Airtel Africa Valuation Multiples
Discover revenue and EBITDA valuation multiples for Airtel Africa and similar public comparables like TIM, Vodacom, Telia, Telkom Indonesia and more.
Airtel Africa Overview
About Airtel Africa
Airtel Africa PLC is engaged in providing affordable and inventive mobile services. The principal activities of the company principally 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. It generates maximum revenue from the East Africa mobile services, which comprises mobile service operations in Uganda, Zambia, Kenya, Tanzania, Malawi and Rwanda.
Founded
2018
HQ
Employees
4.3K
Website
Sectors
Financials (LTM)
EV
$23B
Airtel Africa Financials
Airtel Africa reported last 12-month revenue of $6B and EBITDA of $3B.
In the same LTM period, Airtel Africa generated $3B in EBITDA and $704M in net income.
Revenue (LTM)
Airtel Africa P&L
In the most recent fiscal year, Airtel Africa reported revenue of $5B and EBITDA of $2B.
Airtel Africa expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $3B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 70% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 46% | XXX | XXX | XXX |
| EBIT Margin | 33% | XXX | 30% | XXX | XXX | XXX |
| Net Profit | $704M | XXX | $220M | XXX | XXX | XXX |
| Net Margin | 11% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | — | — | $2B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Airtel Africa Stock Performance
Airtel Africa has current market cap of $18B, and enterprise value of $23B.
Market Cap Evolution
Airtel Africa's stock price is $4.81.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $23B | $18B | (0.1%) | XXX | XXX | XXX | $0.06 |
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Start Free TrialAirtel Africa Valuation Multiples
Airtel Africa trades at 3.7x EV/Revenue multiple, and 7.5x EV/EBITDA.
EV / Revenue (LTM)
Airtel Africa Financial Valuation Multiples
As of March 7, 2026, Airtel Africa has market cap of $18B and EV of $23B.
Equity research analysts estimate Airtel Africa's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Airtel Africa has a P/E ratio of 24.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $18B | XXX | $18B | XXX | XXX | XXX |
| EV (current) | $23B | XXX | $23B | XXX | XXX | XXX |
| EV/Revenue | 3.7x | XXX | 4.7x | XXX | XXX | XXX |
| EV/EBITDA | 7.5x | XXX | 10.0x | XXX | XXX | XXX |
| EV/EBIT | 11.3x | XXX | 15.8x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 6.6x | XXX | XXX | XXX |
| P/E | 24.9x | XXX | 79.7x | XXX | XXX | XXX |
| EV/FCF | 24.5x | XXX | 16.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Airtel Africa Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Airtel Africa Margins & Growth Rates
Airtel Africa's revenue in the last 12 month grew by 18%.
Airtel Africa's revenue per employee in the last FY averaged $1.5M.
Airtel Africa's rule of 40 is 67% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Airtel Africa's rule of X is 94% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Airtel Africa Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 27% | XXX | XXX | XXX |
| EBITDA Margin | 50% | XXX | 46% | XXX | XXX | XXX |
| EBITDA Growth | 20% | XXX | 35% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 67% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 94% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.5M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 13% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 41% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Airtel Africa Public Comps
See public comps and valuation multiples for other Telecom Service Providers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| TIM | XXX | XXX | XXX | XXX | XXX | XXX |
| Vodacom | XXX | XXX | XXX | XXX | XXX | XXX |
| Telia | XXX | XXX | XXX | XXX | XXX | XXX |
| Telkom Indonesia | XXX | XXX | XXX | XXX | XXX | XXX |
| Tele2 | 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 Activity
Airtel Africa acquired XXX companies to date.
Last acquisition by Airtel Africa was on XXXXXXXX, XXXXX. Airtel Africa acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Airtel Africa
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAirtel Africa Investment Activity
Airtel Africa invested in XXX companies to date.
Airtel Africa made its latest investment on XXXXXXXX, XXXXX. Airtel Africa invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Airtel Africa
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout 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. |
| How many employees does Airtel Africa have? | As of today, Airtel Africa has over 4K employees. |
| Who is the CEO of Airtel Africa? | Airtel Africa's CEO is Sunil Kumar Taldar. |
| Is Airtel Africa publicly listed? | Yes, Airtel Africa is a public company listed on London Stock Exchange. |
| 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? | Airtel Africa main competitors are TIM, Vodacom, Telia, Telkom Indonesia. |
| What is the current market cap of Airtel Africa? | Airtel Africa's current market cap is $18B. |
| What is the current revenue of Airtel Africa? | Airtel Africa's last 12 months revenue is $6B. |
| What is the current revenue growth of Airtel Africa? | Airtel Africa revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Airtel Africa? | Current revenue multiple of Airtel Africa is 3.7x. |
| Is Airtel Africa profitable? | Yes, Airtel Africa is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Airtel Africa? | Airtel Africa's last 12 months EBITDA is $3B. |
| What is Airtel Africa's EBITDA margin? | Airtel Africa's last 12 months EBITDA margin is 50%. |
| What is the current EV/EBITDA multiple of Airtel Africa? | Current EBITDA multiple of Airtel Africa is 7.5x. |
| What is the current FCF of Airtel Africa? | Airtel Africa's last 12 months FCF is $940M. |
| What is Airtel Africa's FCF margin? | Airtel Africa's last 12 months FCF margin is 15%. |
| What is the current EV/FCF multiple of Airtel Africa? | Current FCF multiple of Airtel Africa is 24.5x. |
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