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MTN Nigeria Valuation Multiples
Discover revenue and EBITDA valuation multiples for MTN Nigeria and similar public comparables like SK Telecom, Ooredoo Qatar, HKT Trust and HKT, Tigo and more.
MTN Nigeria Overview
About MTN Nigeria
MTN Nigeria Communications PLC is a provider of communications services. The principal activities of the company are the provision of broadband fixed wireless access service, mobile broadband solutions, and fibre-to-the-home connectivity. The group operates in three reportable segments, namely, Consumer Business Unit (CBU) which consists of subscribers sitting in value propositions and tariff plans for Youth, High Value and Mass segments, Enterprise Business Unit (EBU) consists of small and medium organizations to whom the services are provided, and Wholesale Business Unit (WBU) serves customers who buy MTN telecom products. The majority of the revenue is generated from the CBU segment.
Founded
2000
HQ
Employees
1.8K
Website
Sectors
Financials (LTM)
EV
$13B
MTN Nigeria Financials
MTN Nigeria reported last 12-month revenue of $4B and EBITDA of $2B.
In the same LTM period, MTN Nigeria generated $3B in gross profit, $2B in EBITDA, and $859M in net income.
Revenue (LTM)
MTN Nigeria P&L
In the most recent fiscal year, MTN Nigeria reported revenue of $2B and EBITDA of $294M.
MTN Nigeria expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $4B | XXX | $2B | XXX | XXX | XXX |
| Gross Profit | $3B | XXX | $1B | XXX | XXX | XXX |
| Gross Margin | 77% | XXX | 54% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $294M | XXX | XXX | XXX |
| EBITDA Margin | 54% | XXX | 12% | XXX | XXX | XXX |
| EBIT Margin | 35% | XXX | 23% | XXX | XXX | XXX |
| Net Profit | $859M | XXX | ($288M) | XXX | XXX | XXX |
| Net Margin | 21% | XXX | (12%) | XXX | XXX | XXX |
| Net Debt | — | — | $520M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
MTN Nigeria Stock Performance
MTN Nigeria has current market cap of $12B, and enterprise value of $13B.
Market Cap Evolution
MTN Nigeria's stock price is $0.55.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13B | $12B | 0.0% | XXX | XXX | XXX | $-0.01 |
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Start Free TrialMTN Nigeria Valuation Multiples
MTN Nigeria trades at 3.3x EV/Revenue multiple, and 6.2x EV/EBITDA.
EV / Revenue (LTM)
MTN Nigeria Financial Valuation Multiples
As of March 10, 2026, MTN Nigeria has market cap of $12B and EV of $13B.
Equity research analysts estimate MTN Nigeria's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
MTN Nigeria has a P/E ratio of 13.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $12B | XXX | $12B | XXX | XXX | XXX |
| EV (current) | $13B | XXX | $13B | XXX | XXX | XXX |
| EV/Revenue | 3.3x | XXX | 5.5x | XXX | XXX | XXX |
| EV/EBITDA | 6.2x | XXX | 45.1x | XXX | XXX | XXX |
| EV/EBIT | 9.6x | XXX | 23.9x | XXX | XXX | XXX |
| EV/Gross Profit | 4.3x | XXX | 10.2x | XXX | XXX | XXX |
| P/E | 13.4x | XXX | (39.9x) | XXX | XXX | XXX |
| EV/FCF | — | XXX | 47.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified MTN Nigeria 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.
MTN Nigeria Margins & Growth Rates
MTN Nigeria's revenue in the last 12 month grew by 21%.
MTN Nigeria's revenue per employee in the last FY averaged $2.2M.
MTN Nigeria's rule of 40 is 75% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
MTN Nigeria's rule of X is 107% (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).
MTN Nigeria Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 21% | XXX | 60% | XXX | XXX | XXX |
| EBITDA Margin | 54% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Growth | 26% | XXX | 598% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 75% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 107% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 31% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
MTN Nigeria Public Comps
See public comps and valuation multiples for other Telecom Service Providers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| SK Telecom | XXX | XXX | XXX | XXX | XXX | XXX |
| Ooredoo Qatar | XXX | XXX | XXX | XXX | XXX | XXX |
| HKT Trust and HKT | XXX | XXX | XXX | XXX | XXX | XXX |
| Tigo | XXX | XXX | XXX | XXX | XXX | XXX |
| KT | 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.
MTN Nigeria M&A Activity
MTN Nigeria acquired XXX companies to date.
Last acquisition by MTN Nigeria was on XXXXXXXX, XXXXX. MTN Nigeria acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by MTN Nigeria
| 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 TrialMTN Nigeria Investment Activity
MTN Nigeria invested in XXX companies to date.
MTN Nigeria made its latest investment on XXXXXXXX, XXXXX. MTN Nigeria invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by MTN Nigeria
| 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 MTN Nigeria
| When was MTN Nigeria founded? | MTN Nigeria was founded in 2000. |
| Where is MTN Nigeria headquartered? | MTN Nigeria is headquartered in Nigeria. |
| How many employees does MTN Nigeria have? | As of today, MTN Nigeria has over 1K employees. |
| Is MTN Nigeria publicly listed? | Yes, MTN Nigeria is a public company listed on Nigerian Exchange. |
| What is the stock symbol of MTN Nigeria? | MTN Nigeria trades under MTNN ticker. |
| When did MTN Nigeria go public? | MTN Nigeria went public in 2019. |
| Who are competitors of MTN Nigeria? | MTN Nigeria main competitors are SK Telecom, Ooredoo Qatar, HKT Trust and HKT, Tigo. |
| What is the current market cap of MTN Nigeria? | MTN Nigeria's current market cap is $12B. |
| What is the current revenue of MTN Nigeria? | MTN Nigeria's last 12 months revenue is $4B. |
| What is the current revenue growth of MTN Nigeria? | MTN Nigeria revenue growth (NTM/LTM) is 21%. |
| What is the current EV/Revenue multiple of MTN Nigeria? | Current revenue multiple of MTN Nigeria is 3.3x. |
| Is MTN Nigeria profitable? | Yes, MTN Nigeria is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of MTN Nigeria? | MTN Nigeria's last 12 months EBITDA is $2B. |
| What is MTN Nigeria's EBITDA margin? | MTN Nigeria's last 12 months EBITDA margin is 54%. |
| What is the current EV/EBITDA multiple of MTN Nigeria? | Current EBITDA multiple of MTN Nigeria is 6.2x. |
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